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Showing Original Post only (View all)The Dark Age of Money: Milton Friedman and the Rise of Monetary Fascism [View all]
America, we have a problem, a financial problem that gets ZERO coverage in Corporate McPravda:
Milton Friedman and the Rise of Monetary Fascism
The Dark Age of Money
by JAMES C. KENNEDY
CounterPunch Oct. 24, 2012
EXCERPT...
Monetary Fascism was created and propagated through the Chicago School of Economics. Milton Friedmans collective works constitute the foundation of Monetary Fascism. Knowing that the term Fascism was universally unpopular; Friedman and the Chicago School of Economics masquerade these works as Capitalism and Free Market economics.
SNIP...
The fundamental difference between Adam Smiths free market capitalism and Friedmans free market capitalism is that Friedmans is a hyper extractive model, the kind that creates and maintains Third-World-Countries and Banana-Republics, without geo-political borders.
If you say that this is nothing new, you miss the point. Friedman does not differentiate between some third world country and his own. The ultimate difference is that Friedman has created a model that sanctions and promotes the exploitation of his own country, in fact every country, for the benefit of the investor, money the uber-wealthy. He dressed up this noxious ideology as free market capitalism and then convinced most of the world to embrace it as their economic salvation.
SNIP...
[font color="green"]Monetary Fascism, as conceived by Friedman, uses the powers of the state to put the interest of money and the financial class above and beyond all other forms of industry (and other stake holders) and the state itself.[/font color]
SNIP...
Money has become the state and the traditional state is forced to serve moneys interests. Everywhere the Financial Class is openly lording over sovereign nations. Ireland, Greece and Spain are subject to ultimatums and remember Hank Paulsons $700 billion extortion from the U.S. Congress. The $700 billion was just the wedge. Thanks to unlimited access to the Discount Window, Quantitative Easing and other taxpayer funded debt-swap bailouts the total transfers to the financial industry exceeded $16 trillion as of July 2010 according to a Federal Reserve Audit. All of this was dumped on the taxpayer and it is still growing.
CONTINUED...
http://www.counterpunch.org/2012/10/24/the-dark-age-of-money/
We need to get back to the day when people were more important than profits; when peace trumped money. I'm so old, I remember when that was what being a Democrat stood for.
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The Dark Age of Money: Milton Friedman and the Rise of Monetary Fascism [View all]
Octafish
Oct 2012
OP
You're welcome; but, you deserve the credit in bringing this little reported fact - a life
byeya
Oct 2012
#9
David Stockman, Pruneface Budget Director, said the wealth transfer was political...
Octafish
Oct 2012
#42
For roughly 20 years after WWII this nation built up enormous equity. Over the next 30 years
Egalitarian Thug
Oct 2012
#15
This sentence, "...uses the powers of the state to put the interest of money and the financial class
Egalitarian Thug
Oct 2012
#12
this is why the EU is failing: They put the demands of the banks above the needs of people.
librechik
Oct 2012
#17
The EU also needs a treasury and the individual nations need to be able to adjust
byeya
Oct 2012
#20
Govts need to use the military to take over banks, before the banksters buy their military, too.
WinkyDink
Oct 2012
#26
This entire thread is MUST READ stuff! ... My thanks to all of the contributors.
Bozita
Oct 2012
#32