{"id":66369,"date":"2023-12-15T20:29:05","date_gmt":"2023-12-16T01:29:05","guid":{"rendered":"https:\/\/olduvai.ca\/?p=66369"},"modified":"2023-12-15T20:29:05","modified_gmt":"2023-12-16T01:29:05","slug":"money-for-nothing-and-nothing-for-money","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=66369","title":{"rendered":"Money for Nothing and Nothing for Money"},"content":{"rendered":"<div class=\"title-media-block\">\n<div class=\"post-title-wrap\">\n<h3 class=\"title\"><a title=\"Money for Nothing and Nothing for Money\" href=\"https:\/\/kunstler.com\/clusterfuck-nation\/money-for-nothing-and-nothing-for-money\/\" rel=\"bookmark\">Money for Nothing and Nothing for Money<\/a><\/h3>\n<\/div>\n<div class=\"intro-paragraph\">\u201cSociety lives and acts only in individuals\u2026. Everyone carries a part of society on his shoulders; no one is relieved of his share of responsibility by others. And no one can find a safe way out for himself if society is sweeping towards destruction. \u201d \u2014Ludwig von Mises<\/div>\n<\/div>\n<div class=\"entry\">\n<div class=\"column column-01\">\n<p>\u00a0\u00a0\u00a0 Remember, you are a sovereign individual and the blob in our nation\u2019s capital city is an undifferentiated mass of feckless protoplasm. You contain a cosmos of ideas and aspirations. The blob is an agglomeration of sham and failure. The blob stands for itself, not for our country. You and I can stand for our country.<\/p>\n<p>Remember, also, that the economy of our country at its best was the sum of choices made by sovereign individuals, while the economy of the blob is a gelatinous buildup of unsound hypotheses having nothing to do with the pursuit of happiness. We sense this in the menacing rumors of a Federal Reserve digital currency, which entails the rehypothecation of our hopes and dreams into the blob\u2019s waste-stream, turning everything we do \u2014 it can\u2019t be put delicately \u2014 into shit.<\/p>\n<p>The Fed digital currency will be used to cover-up the failure of end-state financialization of the economy. Finance, you understand, used to be a module of the economy, with a particular role to play. The purpose of finance, formerly, was to marshal surplus wealth from prior productive activity to make new productive activity possible. Financialization, however, does not do that. Financialization was an effort to replace the economy of real production with a hologram of production. Financialization is a racket \u2014 and a racket, remember, is an effort to get something for nothing, that is, dishonestly. The blob feeds and thrives on dishonesty, its favorite food.<\/p>\n<p>\u2026click on the above link to read the rest\u2026<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Money for Nothing and Nothing for Money \u201cSociety lives and acts only in individuals\u2026. Everyone carries a part of society on his shoulders; no one is relieved of his share of responsibility by others. And no one can find a safe way out for himself if society is sweeping towards destruction. \u201d \u2014Ludwig von Mises [&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":[2,6],"tags":[14964,2299,4955,303,449,3650],"class_list":["post-66369","post","type-post","status-publish","format-standard","hentry","category-economics","category-liberty","tag-clusterfuck-nation","tag-control","tag-digital-currency","tag-fed","tag-james-howard-kunstler","tag-us-federal-reserve"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/66369","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=66369"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/66369\/revisions"}],"predecessor-version":[{"id":66370,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/66369\/revisions\/66370"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=66369"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=66369"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=66369"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}