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Tyrants inevitably work to destroy private associations. Such associations are outside of their control and are an alternative pole of allegiance, and therefore must be eliminated.
"Politically there is nothing more advantageous for a government than an attack on property rights, for it is always an easy matter to incite the masses against the owners of land and capital."
The Fed has abandoned its own rules on "price stability" in order to favor what are essentially higher inflation targets. The Fed is now headed down a road it traveled in the 1970s.
The commandment "Thou shalt not steal" was not to be abolished outright. That would offend too many. So the commandment was simply modified to "Thou shalt not steal—except by majority vote."
The Fed’s Spring credit impulse continues to fade, as Reserve Bank credit (i.e. the sum total of interest bearing assets on the balance sheet) registered at $6.97 trillion, the eleventh straight weekly reading just below the $7 trillion mark. The three-month annualized growth rate has now fallen to minus 4.5%, though Reserve Bank credit remains higher by 87% year-over-year. (- 4,5% ÄR UTAN TVEKAN EN ÅTSTRAMNING)
Extraordinary measures require extraordinary evidence. Have the advocates for lockdowns made their case? The data suggests they have not.
Europe needs more than ever the principles that made it successful: decentralization, free trade, and sound markets.
Eventually, loose monetary policy will damage real savings to the point that the economy can no longer sustain sufficient economic growth. At that point, it will become clear that money printing can't create economic growth.
Capitalists, acting as intermediaries between present production and future consumption, are the key players in every capitalistic economy.
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