Comments on: One Nation Under Inflation

By: Eric Zucker

Eric Zucker — Sat, 03 Dec 2011 19:10:48 +0000

Barroso reminds me of Cleavon Little’s portrayal of the black sheriff in Mel Brooks’ classic “Blazzing Saddles”. When threatened, the black sheriff points a gun at his OWN head and says, “the next man makes a move, the ‘nigger’ get’s it.” It’s a little over two minutes into the scene at http://www.youtube.com/watch?v=upvZdVK913I.

The real threat, if Germany refuses to put their credit at risk, the bankers will be poorer and less powerful when the PIIGs default or devalue their loans. Just like the sheriff, the bankers are using the threat of their own demise to scare Europe. And I imagine, just like the sheriff, the bankers when out of site are amused at how “dumb” the public is.

By: Nick from Europe.

Nick from Europe. — Fri, 02 Dec 2011 21:10:56 +0000

Barosso creeps the bejeezus out of me. He’s a thuggish, big guy but his voice is much higher.

On to serious things, he’s lying like the thug he is in that video. In the event of a EU breakup and a euro failure, European countries would not lose their continental markets, as most would still be under obligation from EFTA and EEA (both independent from the EU and Eurozone) to avoid imposing customs and quotas on each others’ products. Further integration will not help, because even with a common fiscal policy, the EU will still be bringing together 27 different cultures, which means 27 different work ethic models.

Us Eurotrash can aspire to create some sort of USA-like federal entity, but there’s a catch. Behind the entire melting pot business, the US remains a very anglo-saxon, unitary culture. Europe cannot achieve this in any case.

By: Robert (aka Meathead)

Robert (aka Meathead) — Fri, 02 Dec 2011 17:26:43 +0000

It is true, as you have adroitly recorded here, that Europe now yearns for the U.S. model of centralized government power (thanks “Honest Abe”) vs their flawed economic confederation of sovereign nation states. The imposition of tyranny by an enlightened Intelligentsia is so much easier without all of the bickering and infighting that has plagued all previous attempts at European unification. I only wish to point out that it may not be hyper-inflation that unites Europe (and the U.S.) in the end game. Debt is the creator of fiat currency. Failure to pay debt, whether through defaults, foreclosures, or creditor write downs; destroys fiat currency. In other words, there is a hole in the bottom of the currency bucket. If more debt is destroyed than is created, then the supply of fiat currency will deflate. It will be interesting, should (when?) en mass sovereign defaults occur and the $500 trillion derivative markets unravel, if all of the private property in the bankrupt nations will be legally construed to be the legitimate collateral for the defaulted loans.

By: My Ron-Paul i

My Ron-Paul i — Fri, 02 Dec 2011 17:12:50 +0000

Here is modern fiscal policy as explained by Ethel Merman (from my hometown):

http://www.youtube.com/watch?v=Rbcbhjq_FxY

By: Dennis

Dennis — Fri, 02 Dec 2011 13:15:37 +0000

The LINKS will add information for completing the picture of where all of us are headed unless more ethical, non-Keynesian, non-Central Bank Politicians are elected this time around.

http://mises.org/daily/5742/The-Origins-of-the-Fed

http://mises.org/daily/5824/Explaining-Central-Banks-Gold-Purchases

I, for one, do not wish to see the European model here in the U.S. nor do I wish to see a UNIVERSAL CURRENCY issued by a GLOBAL GOVERNMENT operated by FASCISTS.

By: David Smith

David Smith — Fri, 02 Dec 2011 12:41:34 +0000

With our “betters” busily brewing up the next economic potion in order to save the day – for whom? – I’m strangely feeling . . . doomed. At the same time, and though it may be good theater, I can’t help thinking our collective hopes being set on one candidate or another in next year’s election is equally futile.

Look, I’m a confirmed “Paulian”, but I’m afraid we’re well past the point of No Return economically. What his presidency would do is surrender usurped powers by the federal government back to the sovereign states, thus aiding in the reinvigoration of more local control, wherein lies our best hope.