{"id":57874,"date":"2021-05-15T16:36:43","date_gmt":"2021-05-15T21:36:43","guid":{"rendered":"https:\/\/olduvai.ca\/?p=57874"},"modified":"2021-05-15T16:38:45","modified_gmt":"2021-05-15T21:38:45","slug":"karl-marxs-road-to-hell-is-paved-with-fake-money","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=57874","title":{"rendered":"Karl Marx\u2019s Road to Hell is Paved with Fake Money"},"content":{"rendered":"<h3 class=\"entry-title\"><a href=\"https:\/\/economicprism.com\/karl-marxs-road-to-hell-is-paved-with-fake-money\/\">Karl Marx\u2019s Road to Hell is Paved with Fake Money<\/a><\/h3>\n<div class=\"entry-content\">\n<p><em><a href=\"https:\/\/economicprism.com\/karl-marxs-road-to-hell-is-paved-with-fake-money\/\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-5944 size-full\" title=\"Karl Marx's Road to Hell is Paved with Fake Money\" src=\"https:\/\/economicprism.com\/wp-content\/uploads\/2018\/02\/EasternBloc.jpg\" sizes=\"auto, (max-width: 150px) 100vw, 150px\" srcset=\"https:\/\/economicprism.com\/wp-content\/uploads\/2018\/02\/EasternBloc.jpg 150w, https:\/\/economicprism.com\/wp-content\/uploads\/2018\/02\/EasternBloc-144x144.jpg 144w\" alt=\"\" width=\"150\" height=\"150\" \/><\/a>\u201cThe way to Hell is paved with good intentions,\u201d<\/em>\u00a0remarked Karl Marx in\u00a0<em>Das Kapital<\/em>.<\/p>\n<p>The devious fellow was bemoaning evil capitalists for having the gall to use their own money for the express purpose of making more money.<\/p>\n<p>Marx, a rambling busybody, was habitually wrong.\u00a0 The road to hell is paved with something much more than good intentions.\u00a0 Grift, graft, larceny, corruption and fake money are what primarily composes the pavement.\u00a0 Good intentions are merely dusted in to better the aesthetic.<\/p>\n<p>If you want to understand what\u2019s going on with exploding price inflation then you must understand this\u2026<\/p>\n<p>Right now in the United States we have a scam currency that\u2019s controlled by central planners.\u00a0 Specifically, we have what Marx envisioned in Plank No. 5 of his\u00a0<em>Communist Manifesto<\/em>:<\/p>\n<p><em>\u201cNo. 5.\u00a0 Centralization of credit in the hands of the state, by means of a national bank with state capital and an exclusive monopoly.\u201d<\/em><span id=\"more-7565\"><\/span><\/p>\n<p>The Federal Reserve System, created by the Federal Reserve Act of Congress in 1913, is indeed a \u2018national bank\u2019 and it politically manipulates interest rates and holds a monopoly on legal counterfeiting in the United States.<\/p>\n<p>Without the Fed\u2019s policies of mass credit creation the U.S. government could have never run up a national debt over $28 trillion.\u00a0 Without the Fed\u2019s policies of extreme credit market intervention the U.S. trade deficit for March of $74.4 billion \u2013 a new record \u2013 would have never been possible.\u00a0 Without the Fed\u2019s printing press money the U.S. government could have never run annual budget deficits over $3 trillion.<\/p>\n<p>The fact is centralized credit in the hands of a central bank always leads to money supply inflation.\u00a0 Asset price inflation and consumer price inflation then follow in strange and unpredictable ways.<\/p>\n<p>\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Karl Marx\u2019s Road to Hell is Paved with Fake Money \u201cThe way to Hell is paved with good intentions,\u201d\u00a0remarked Karl Marx in\u00a0Das Kapital. The devious fellow was bemoaning evil capitalists for having the gall to use their own money for the express purpose of making more money. Marx, a rambling busybody, was habitually wrong.\u00a0 The [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[31236,12043,20952,303,309,426,3300,24043,11763,17970,534,538,13351,3650],"class_list":["post-57874","post","type-post","status-publish","format-standard","hentry","category-economics","tag-das-kapital","tag-economic-prism","tag-fake-money","tag-fed","tag-fiat-currency","tag-inflation","tag-karl-marx","tag-mmt","tag-mn-gordon","tag-modern-monetary-theory","tag-monetary-policy","tag-money-printing","tag-price-inflation","tag-us-federal-reserve"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/57874","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=57874"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/57874\/revisions"}],"predecessor-version":[{"id":57875,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/57874\/revisions\/57875"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=57874"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=57874"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=57874"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}