Little
has been written about autarky; what has been is usually negative in tone. “Only
by eliminating the deadly germ of monetary sovereignty will currency crises
become yesterday's disease, and will globalization live up to its economic and
political promise”, wrote Benn Steil, Senior Fellow and Director of
International Economics of the Council on Foreign Relations, an impartial
organization if ever there was one, heh heh. The CFR is a policy arm of the NOW
and the globalist banker cabal, an integral part of what has come to be known
as the “Shadow State” that pulls the strings of the political puppets the
unwashed are permitted to elect. The article appeared on 22 April 2004 as an
op-ed piece in the little-people-friendly publication The Wall Street Journal.
Also
weighing in against the principle was Dispensationalist minster and Y2K
hysteric Gary North, a fan of Austrian Economics. Yours truly went through an
Austrian phase and contributed essays (non-economic) to an online publication
of Lew Rockwell, founder of the Ludwig von Mises Institute, the leading
Austrian economics organization. Austrian economics advocates free trade and a
return to the gold standard, positions it took me two years to abandon once I
understood how thoroughly heartless and banker-friendly the Austrian School
truly is. No citations from the-sky-is-falling Gary North are necessary; ignore
him.
The
final easily accessed web page dealing with autarky comes from a 25 Sept. 2005
paper taken from the Board of Governors of the Federal Reserve System International
Finance Discussion Papers series. Favorable or unfavorable with respect to
currency autarky? Ah hah hah! A rhetorical question if ever there was one! Let’s
look elsewhere.
Ellen
Brown’s 2007 book Web of Debt (a very
worthy read) explores a Twentieth Century example of a reasonably successful—in
some instances, very much so—trial of autarky: Hitler’s (EEEEEK! HITLER!!) Germany.
Even the astonishingly ignorant young folk of the present century know who
Hitler (EEEEEK!) was. They may never have heard of Stalin and/or Chairman Mao,
both of whom killed many more people and lasted in power for far longer, but everyone knows who Hitler (EEEEEK!) was.
But once one goes beyond his boogieman status, subjects such as how he came to
power and what he did during his early years in power remain in the vault of
general ignorance along with the fact that the Federal Reserve is neither federal
nor a reserve. Monetary history is simply not a part of national educational
systems and the people who run those systems plan to keep it that way.
The Subsidiarity
Institute is designed to be a source for monetary education materials. Its
founder and only scribe at present is independent of outside influence and
therefore free to make errors and more importantly to admit them, which while
humbling is of great importance in an inexact “science” such as economics.
Thanks for recommending montefrio from zman
ReplyDeleteYou're very welcome. Thanks for your fine blog.
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