Another week, another massive (and flagrantly anti-“free market capitalism”) bailout here in “the land of the free and the home of the NSA.”
The Orwellian/Romans 1 insanity of our culture seems to become more plain and laughably tragic with each passing minute.
We raise debt ceilings to not raise the debt, we bail out stock holders and “too big to fail” businesses in the name of “preserving the free market system”, we destroy liberties at home in the name of “preserving our freedom”, we go to war in country after country in the name of peace, and we keep flying folks in from West Africa in order to fight the spread of Ebola.
Welcome to Orwell’s 1984.
And, even more accurately: Welcome to Romans 1 America.
On the economic front, the latest wave of free market crushing activity done in the name of preserving free markets is the recent action taken by the Federal Reserve to comfort and assist the “too big to fail” class by (once again) embarking upon a(nother) massive asset bubble preservation/re-inflation project. Before we get into the particulars of this week’s Corpo-Fascist style manipulation of the economy and culture in the name of America and freedom, let’s take a moment to note some of the consequences of these sorts of unbiblical economic actions.
In Why does God despise the US dollar? Here are seven reasons…, we considered the following consequences of rejecting the Word of God as the basis for economic fundamentals:
- It is as “unfair a balance” as a balance can possibly be. Since the dollar was finally severed from its last objective restraints by president Richard Nixon in 1971, it has literally become detached from all external restraint. Those with the power to create (by printing press or keyboard stroke) this “money” are able to do so effortlessly. All they need is the will to create it. All they have to do is make a decision for there to be billions, trillions, or more, for whatever reason they desire, and the “money” becomes available…all while everyone else in the world is forced to spend their very life energy in pursuit of the amount of “money” made available for them to chase after by those who crafted it out of thin air. This “fiat currency” or “Monopoly money” approach could not possibly be more of an unfair balance. It is the ultimate “unfair balance” of Proverbs 11:1 and it is therefore the ultimate abomination of Proverbs 11:1.
- It fundamentally corrupts the concept of work. When some have the power to literally create wealth out of thin air, the requirement that work be done at some point in some way in order to acquire wealth is destroyed.
- It fundamentally corrupts the work ethic. When some have the power cited above, and others (the vast majority beneath them) do not, all who dare look are able to confirm that the concept of a true and good universal work ethic has been fundamentally undermined and corrupted.
- It enslaves the many to the few. When some are granted the power to craft the “money” needed to sustain life out of thin air, they are effectively granted the power to own everyone and everything beneath them. This is no exaggeration and it is actually the point of all fiat currency like the US dollar: Fiat currency is designed to accomplish fiat slavery of the masses.
- It fundamentally corrupts business. When some can either manufacture limitless wealth from nothingness or benefit from their friends who have been granted such power, and the rest of humanity is left to scrap and claw for even enough “money” to feed themselves, the business playing field has been fundamentally compromised and truly “free markets” become a fiction.
- It empowers the emerging Corpo-Fascist State: Governments and corporations use the power of fiat currency to control masses from birth to death. The few who are able to craft “money” from nothing use that wealth to build and expand governmental systems and corporate powers in ways that would be impossible if there was a biblically sound form of currency in place.
- It enables perpetual war. Without the ability to craft “money” out of thin air, it would be impossible to finance the never-ending military adventures used to perpetuate the growth of the State and the control of its subjects.
Please keep these seven things in mind as we go on to consider recent economic maneuvers by the powers atop the present (and presently dying) economic system…
Last week, as the markets took a header and were down, down, down, the money-printing class intervened on behalf of the larger protected class and at the expense of all others…again.
It’s just what they do.
It’s what they’ve been doing for generations now, and it’s why the US dollar has purposefully lost over 90% of its real-world purchasing power under the steady, manipulative, thieving hand of the Federal Reserve.
In ‘Plunge protection’ behind market’s sudden recovery, the New York Post‘s John Crudele helped chronicle and explain some of this latest wave of free market warping activity:
But let me explain about the unknown forces in the market these days. Call it by a nickname — the Plunge Protection Team. Or call it the President’s Working Group on Financial Markets, the official name given to the group when it was formed by President Ronald Reagan after the market turbulence of 1989.
These forces may be working from a script in the “Doomsday Book,” which the US government recently fought to keep secret when it was brought up last week during the AIG trial in Washington.
Here’s the bottom line: Someone tried to rescue the market last Wednesday. And it’s becoming a regular occurrence.
How “free market” is that?
And who gets the bill for these “rescues” (aka bailouts)? Who pays the price?
Maybe you’ll believe that there was some manipulation going on if you knew that a guy named Robert Heller, who was a member of the Federal Reserve’s Board of Governors until 1989, proposed just such a rigging as soon as he left the Fed.
Look it up. Oct. 27, 1989, Wall Street Journal. Headline: “Have Fed Support Stock Market, Too.” By Robert Heller, who had just left the Fed to head up the credit card company Visa.
“It would be inappropriate for the government or the central bank to buy or sell IBM or General Motors shares,” Heller wrote. “Instead, the Fed could buy the broad market composites in the futures market.”
In case you don’t know the lingo, Heller is proposing that the Fed or government purchase stock futures contracts that track — and can influence — the major indices.
These contracts are cheap and a government could turn the whole stock market around quickly — but probably not permanently.
Wow! Doesn’t that seem a lot like what happened Wednesday at 9:41 a.m., when S&P futures contracts were suddenly and mysteriously scooped up?
So once again we have the illusion of stock and certain asset wealth preserved through the further dilution of the dollar…for now. Of course, this can’t go on forever. It must end, and end very badly, as all biblically abominable pursuits must (see: Proverbs 11:1). But, in the meantime, more pain and the (purposefully) increased threat of State dependency is brought to those struggling under the bottom of this unholy Ponzi Pyramid.
Lord willing, the Church will lead the way in repentance and restoration in the economic realm and all others through the faithful proclamation and application of the Gospel and Great Commission.
Until then…War is peace, ignorance is strength, and freedom is slavery in Romans 1 America. There is no escape from any of this apart from the nature of Christ the King as revealed in His perfect Word.
So let’s get to it! There’s a war to be won, a culture to be saved, and an economy to be reborn…one supernatural salvation at a time…
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© 2015 Scott Alan Buss – All Rights Reserved.
Soli Deo Gloria!