Posted on 05/22/2020 6:46:35 AM PDT by Kaslin
As soon as the Bolsheviks took over Russia in October 1917, Vladimir Lenin began churning out rubles. In fact, he spent half the state's revenue on just the printing of new currency. Within a year, the ruble was worth 100,000,000 times less than it had been before the communists took over. Existing rubles, and any investment denominated in rubles, were worthless.
Lenin's inflationary program was not a response to the need for an increased money supply. It was a deliberate strategy designed to eliminate money as a means of transactions and, with it, to crush capitalism. From that point on, the state would directly control the means of production and distribution, and the people would, in theory, be dependent on the state for all goods and services. In reality, Lenin's policy fostered a thriving black market, of which the communists were well aware and on which they relied to feed a segment of the population. So began 73 years of economic demoralization and corruption, driving the people of Russia to secrecy, callous indifference, and even cannibalism.
As Martin Amis writes in his book on the Soviet Union, Koba the Dread (2002) — from which much of my analysis and data are drawn — Lenin's inflationary policy rested on an underlying contempt for ordinary people, and especially for Russia. From the beginning, Lenin's strategy was to decimate the value of private property by means of inflationary printing of vast sums of money. Lenin cheered Russia's descent into starvation, believing that the crisis would increase his party's support among the peasantry. Those who were starving would have nowhere else to turn. It was an early example of never letting a crisis go to waste.
(Excerpt) Read more at americanthinker.com ...
A better policy would have been debt deferral. The gov’t could have said all major debt (mortgage, student loans, auto, credit card, etc.) was deferred for a period of 90 (?) days. Any income shortfall could have been done with existing programs (e.g., unemployment comp, food stamps, and other transfer payments). The result would have been an order of magnitude less expensive. So why wasn’t it done? Because politicians know that giving money away makes them look good and gives them power. Unfortunately, no one seems to grasp the fact that it’s our money in the first place.
And at a press conference Trump should take Pelosi’s stimulus bill and tear it to shreds ala her SOTU stunt.
And china’s trade deal.
Excellent article!
Excellent article!
The spending will lead to hyperinflation.
The dollar will be worthless.
Any store of value, gold, silver and cryptocurrency, will be capitalisms last bastion, until they are outlawed. Then it will be bullets.
And if Soviet history is anything to learn from, by the time property in store of value is confiscated by the government, the guns and bullets of the people will have been confiscated long before.
The atrocities of government and its abuses against their own people exceed that of war against a government’s foreign enemies.
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