Connect with us

Red Pill

News

Greece is right where Weimar Germany was in late 1922…no cash and few options to grow

If Greece in 2015 mirrors Germany in 1922, then we might expect Greece in 2016 to come to resemble Germany in 1923.

Published

on

14 Views

Post entitled “Weimar Greece – The Effects of a Currency Collapse” originally appeared in International Man:

Cash is a scarce commodity in Greece.

In June, Greek banks declared a surprise limitation on how much could be withdrawn from an account. At present, the government still limits the cash withdrawals of Greeks.

And, of course, this is just the most recent in a series of events that make up the cash squeeze. In response, Greeks have done what all people do when they cannot get enough currency – they improvise.

Several alternate systems for payment of goods and services have cropped up in Greece since 2010. One is TEM, which allows people to gain monetary credit on an internet site, which may then be used to pay others. Another system is the Athens Time Bank, which logs time units, allowing individuals to pay each other with their time. The services provided can be anything from language lessons to medical consultation. Other systems are popping up, as Greeks seek out any method of payment other than the euro, since they’re closed off from their own savings at the banks. As can be expected, barter is becoming more commonplace.

Greece is right where Weimar Germany was in late 1922. The 1919 Treaty of Versailles required Germany to pay reparations for WWI. At the time, Germany, having lost the war, was already on the ropes economically. The conditions of the treaty amounted to an unpayable level of debt. As it became apparent that it was impossible to pay, the allies squeezed harder. Economic conditions in Germany worsened dramatically, not unlike Greece today, and for the same reason.

Germans did their best to sidestep the economic squeeze. As the cost of goods and services was rapidly rising (on a daily basis), Germans learned that it was best to spend Reichsmarks as quickly as possible on virtually anything that was holding its value better than banknotes.

Interestingly, in 1922, virtually no one felt that currency was the problem. German politicians blamed the allies, particularly the French, for demanding that Germany live up to the treaty they had signed. Bankers often blamed foreign currencies for rising against the mark. And the people of Germany generally placed the blame on the most immediate symptom – that costs were rising more quickly than wages. Although they were pleased when their own wages went up, they wanted the prices of commodities to remain the same. They therefore blamed the merchants (particularly the many Jewish merchants) for raising the prices of their goods every time wages increased. They blamed this on Jewish greed, failing to understand that, every time wages increased, the cost of production increased and that increase was passed to the merchants.

In 1922, as in 2015, virtually everyone failed to recognise that monetary movement is circular in nature, not linear. All payments, for all goods and services, impact each other, in a domino effect.

The provision of goods and services is the lifeblood of any economy. Those who offer them and those who pay for them create wealth by doing so. This is the natural order of economics. However, if currency is artificially pumped into an economic system, either through the printing of bank notes, as in Germany in 1922, or the provision of bailouts, as in Greece in 2015, no goods have been created, no services have been performed. The injection of currency fails to improve the economy; it makes the situation worse. At some point, the money tap must be shut off, and, when it is, a crash takes place. The severity of the crash is directly proportional to the degree of currency injection.

So, as long as we’re comparing parallel events, what else happened back then? Well, one interesting development was that, although most everyone in Germany was experiencing a steady decrease in their standard of living, farmers seemed to be holding their own. This, of course, was because they remained productive. They created essential goods for sale to others, so they maintained their living standards. In the autumn of 1922, most Bavarians could not afford to attend Oktoberfest, but the beer halls did an acceptable business with the farmers who came to town for the celebration. They were deeply resented by city dwellers for being able to afford beer that they themselves could not afford.

Such was the resentment that the prime minister of Bavaria submitted a bill to the Reichsrat to make gluttony a public offense.

In 1923, as the Weimar inflation grew to the point that city dwellers were starving, many of them went out to the country to steal the produce the farmers had worked to grow. Resentment was so high against the farmers that many raiders killed the farmers out of hatred. Further, since they couldn’t take the farmers’ cattle back to the city with them, they slaughtered them in the fields, out of spite. Of course, by destroying the source of the food, they assured that they would receive even less in future. Many starved.

As stated by British Author Adam Fergusson in When Money Dies:

It brought out the worst in everybody… It caused fear and insecurity among those who had already known too much of both. It fostered xenophobia. It promoted contempt for government and the subversion of law and order.

As stated at the time by Sir Basil Blackett, controller of finance of the British Treasury, “Each class in Germany thinks that the burden of taxation should fall on some other class.” (Does any of this sound familiar?)

If Greece in 2015 mirrors Germany in 1922, then we might expect Greece in 2016 to come to resemble Germany in 1923.

But how about the rest of us? We’re not in the state that Greece is in – at least not yet. But the EU as a whole, and the U.S., Canada, and many other “First World” countries, are following the same destructive economic path. (They just aren’t quite as far along as Weimar Germany, 1923.)

So, we might be interested to know what came next in Germany.

  • Demands increased by the public for a mandatory redistribution of wealth.

This has become a common cry, particularly in the U.S., where a presidential election will take place in a year and some candidates are fanning the flames on this issue.

  • Movement of currency had to notified, then authorised.

Currency controls are being implemented, one after the other, to limit the people’s ability to move their own money. Most threatening is a plan to eliminate cash, so that money cannot be transferred without the permission of the banks.

  • Importation was regulated.

Politicians in the EU and U.S. are speaking increasingly of the need for protective tariffs.

Political leaders have, for decades been squeezing the economy for all they can get and, as they’ve reached the point of diminishing returns, they’ve done what politicians always do, increase debt in order to prolong and increase their intake of wealth.

This can be likened to a farmer who, wanting more milk than a cow can produce, milks it dry, then, refusing to admit his folly, starts draining the cow of its blood. He may say to both himself and others that the increasing need may be satisfied by increasing the removal of blood and, on a temporary basis, this will allow him to continue making use of the cow. However, once he has done so, it is a certainty that, at some point very soon, the cow will collapse.

This was the case in Germany in 1923…and is the case in much of the world now.

 

References:

http://www.internationalman.com/articles/weimar-greece-the-effects-of-a-currency-collapse

Liked it? Take a second to support The Duran on Patreon!
Advertisement
Click to comment

Leave a Reply

avatar
  Subscribe  
Notify of

Latest

Pat Buchanan: “The Late Hit” On Judge Kavanaugh

Wha exactly is professor Ford’s case against Judge Kavanaugh?

Patrick J. Buchanan

Published

on

Authored by Patrick Buchanan via Buchanan.org:


Upon the memory and truthfulness of Christine Blasey Ford hangs the Supreme Court nomination of Judge Brett Kavanaugh, his reputation and possibly his career on the nation’s second-highest court.

And much more. If Kavanaugh is voted down or forced to withdraw, the Republican Party and conservative movement could lose their last best hope for recapturing the high court for constitutionalism.

No new nominee could be vetted and approved in six weeks. And the November election could bring in a Democratic Senate, an insuperable obstacle to the elevation of a new strict constructionist like Kavanaugh.

The stakes are thus historic and huge.

And what is professor Ford’s case against Judge Kavanaugh?

When she was 15 in the summer of ’82, she went to a beer party with four boys in Montgomery County, Maryland, in a home where the parents were away.

She says she was dragged into a bedroom by Brett Kavanaugh, a 17-year-old at Georgetown Prep, who jumped her, groped her, tried to tear off her clothes and cupped her mouth with his hand to stop her screams.

Only when Kavanaugh’s friend Mark Judge, laughing “maniacally,” piled on and they all tumbled off the bed, did she escape and lock herself in a bathroom as the “stumbling drunks” went downstairs. She fled the house and told no one of the alleged rape attempt.

Not until 30 years later in 2012 did Ford, now a clinical psychologist in California, relate, in a couples therapy session with her husband, what happened. She says she named Kavanaugh as her assailant, but the therapist’s notes of the session make no mention of Kavanaugh.

During the assault, says Ford, she was traumatized. “I thought he might inadvertently kill me.”

Here the story grows vague. She does not remember who drove her to the party. She does not say how much she drank. She does not remember whose house it was. She does not recall who, if anyone, drove her home. She does not recall what day it was.

She did not tell her parents, Ford says, as she did not want them to know she had been drinking. She did not tell any friend or family member of this traumatic event that has so adversely affected her life.

Said Kavanaugh in response, “I categorically and unequivocally deny this allegation. I did not do this back in high school or at any time.”

Mark Judge says it never happened.

Given the seriousness of the charges, Ford must be heard out. But she also needs to be cross-examined and have her story and character probed as Kavanaugh’s has been by FBI investigators as an attorney for the Ken Starr impeachment investigation of Bill Clinton, a White House aide to George Bush, a U.S. appellate judge and a Supreme Court nominee.

During the many investigations of Kavanaugh’s background, nothing was unearthed to suggest something like this was in character.

Some 65 women who grew up in the Chevy Chase and Bethesda area and knew Kavanaugh in his high school days have come out and spoken highly of his treatment of girls and women.

Moreover, the way in which all of this arose, at five minutes to midnight in the long confirmation process, suggests that this is political hardball, if not dirt ball.

When Ford, a Democrat, sent a letter detailing her accusations against Kavanaugh to her California congresswoman, Anna Eshoo, Ford insisted that her name not be revealed as the accuser.

She seemingly sought to damage or destroy the judge’s career behind a cloak of anonymity. Eshoo sent the letter on to Sen. Diane Feinstein, who held it for two months.

Excising Ford’s name, Feinstein then sent it to the FBI, who sent it to the White House, who sent it on to the Senate to be included in the background material on the judge.

Thus, Ford’s explosive charge, along with her name, did not surface until this weekend.

What is being done here stinks. It is a transparently late hit, a kill shot to assassinate a nominee who, before the weekend, was all but certain to be confirmed and whose elevation to the Supreme Court is a result of victories in free elections by President Trump and the Republican Party.

Palpable here is the desperation of the left to derail Kavanaugh, lest his elevation to the high court imperil their agenda and the social revolution that the Warren Court and its progeny have been able to impose upon the nation.

If Kavanaugh is elevated, the judicial dictatorship of decades past, going back to the salad days of Earl Warren, William Brennan, Hugo Black and “Wild Bill” Douglas, will have reached its end. A new era will have begun.

That is what is at stake.

The Republican Senate should continue with its calendar to confirm Kavanaugh before Oct. 1, while giving Ford some way to be heard, and then Kavanaugh the right to refute. Then let the senators decide.

Liked it? Take a second to support The Duran on Patreon!
Continue Reading

Latest

Arizona Senator Jeff Flake Opposes Vote on Kavanaugh Until Leftist Accuser Has Her Say

The end of the Republic inches closer as Identity Politics knows no bounds: Republicans join the fight to delay Brett Kavanaugh confirmation vote.

Alex Christoforou

Published

on

Via The Gateway Pundit


FLAKE OUT — ARIZONA SENATOR OPPOSES VOTE ON KAVANAUGH

Anti-Trump Senator Jeff Flake, a member of the Senate Judiciary Committee, said in an interview Sunday evening that until he learns more about the sexual assault allegation regarding Brett Kavanaugh, he is “not comfortable voting yes” on Kavanaugh.

It’s Flakes last chance to poke President Trump and the country in the eye before he rides retires and likely finds a job in the liberal media.

Via Mike Cernovich:

Kavanaugh’s accuser is a far left anti-Trump activist.

Via Zerohedge


Over the past few days, what appeared at first to be a merely token resistance to the nomination of Trump SCOTUS pick Brett Kavanaugh has morphed into something entirely more menacing. And for the first time since Kavanaugh’s name was first floated in June, his nomination may be in jeopardy.

After allegations of decades-old sexual improprieties first surfaced last week, it looked as if Kavanaugh would easily surmount this obstacle. But we have to give the Democrats credit: They have lined up their dominoes perfectly. And on Sunday, they set their plan in motion when the Washington Post published an in-depth interview with Kavanaugh’s accuser, Christine Blasey Ford. The story detailed a blow-by-blow accounting of Ford’s allegations, as well as her explanation for why she neglected to share her experience until decades later. Tellingly, the story also noted that Democrats have been sitting on the story since July, and that Ford only decided to out herself after some unscrupulous members of the Judiciary Committee shared her identity with the press – or at least that’s what California Sen. Dianne Feinstein’s office alleges.

While the allegations are relatively tame by #MeToo era standards (the incident allegedly unfolded when Kavanaugh was 17), it has apparently been enough for Democrats and a handful of turncoat moderate Republicans to successfully shut down a planned Thursday vote of the Judiciary Committee. Arizona Sen. Jeff Flake effectively shut down the vote last night when he revealed that he wanted to hear more from Ford before voting. Without Flake, the Republicans’ 11-10 majority on the Judiciary Committee shifts to a 10-11 vote in favor of the Democrats. While Committee Chairman Charles Grassley has said he’d like the vote to proceed as scheduled, media reports say he is quietly working to organize a private call involving Ford and curious Senators in an effort to help mitigate their concerns.

But looking further ahead, Republican leaders might have more difficulty as Tennessee Republican Bob Corker – who is not a member of the Judiciary Committee but could still hold up the final confirmation vote – said Sunday that he’d also like to see Thursday’s committee vote delayed.

Here’s more from Bloomberg:

“I’ve made it clear that I’m not comfortable moving ahead with the vote on Thursday if we have not heard her side of the story or explored this further,” said Flake, who has the power to stall consideration if all Democrats on the panel join him since Republicans only hold an 11-10 majority on the committee. Flake’s office didn’t respond to requests for comment.

Corker of Tennessee, who isn’t a member of the panel but whose vote is critical to confirmation, also doesn’t want the committee to vote on Kavanaugh’s confirmation until Ford’s allegations can be heard, said his spokeswoman, Micah Johnson. The senator wants the allegations to be heard promptly, she said.

The backlash intensified late Sunday when Alaska Sen. Lisa Murkowski told CNN that Thursday’s hearing should be delayed.

“Well, I think that might be something they might have to consider, at least having that discussion,” Murkowski.

[…]

“This is not something that came up during the hearings. The hearings are now over. And if there is real substance to this it demands a response.”

However, at least one of the Senate’s reputed moderates has stood up to the Democrats in an interview with the New York Times, castigating them for withholding this information until so late in the process (remember: Feinstein justified this decision by saying she had referred Ford’s allegations to the FBI, who reportedly added them to his background check file).

“What is puzzling to me is the Democrats, by not bringing this out earlier, after having had this information for more than six weeks, have managed to cast a cloud of doubt on both the professor and the judge,” Collins told The New York Times.

Collins asked if Democrats believed Ford, “why didn’t they surface this information earlier,” and if they didn’t believe Ford, “why did they decide at the 11th hour to release it?”

“It is really not fair to either of them the way it is was handled,” Collins said.

Collins comments come after Ford spoke publicly about the alleged incident for the first time during an interview with The Washington Post that was published on Sunday.

On Monday, in the latest sign that Ford could appear at an embarrassing public hearing, Ford’s attorney, Debra Katz, told “Today” that her client would be willing to testify publicly before the Senate Judiciary Committee. “She’s a credible person. These are serious allegations. And they should be addressed.”

The White House, for its part, is standing by Kavanaugh, and allowing the Senate to sort things out. According to Bloomberg, Kellyanne Conway said Ford should not be “insulted and ignored” in what appears to be an attempt to beat the Democrats at their own virtue-signaling game.

Still, according to a White House spokesperson, Trump isn’t giving an inch. Washington Post reporter Seung Min Kim, citing WH spokesperson Kerri Kupec, reported that Judge Kavanaugh “categorically and unequivocally” denied this allegation: “This has not changed. Judge Kavanaugh and the White House both stand by that statement,”she said.

In fact, as Axios reports, Senate Republicans could “play hardball” by calling on Ford to testify before Thursday’s scheduled vote. Though Republicans wouldn’t surprised if Ford holds a press conference or gives a TV interview, which Axios says “would raise the stakes considerably.” Chuck Schumer, meanwhile, has repeatedly called for an FBI investigation and a postponement of the vote

To be sure, the Democrats’ goals here are obvious. After Sen. Corey Booker’s “selfless” decision to release unauthorized documents about Kavanaugh’s time in the Bush Administration failed to even delay the process, Democrats have now played their Trump card – no pun intended. Their goal: Delay Kavanaugh’s confirmation at least until the Oct. 1 mark – the beginning of SCOTUS’s next term – to put a halt to any controversial decisions that could reverse important precedents. Of course, their ultimate goal is to stonewall the White House until after Nov. 6, when a few victories in the midterms might allow them to sink Kavanaugh’s nomination once and for all.

Liked it? Take a second to support The Duran on Patreon!
Continue Reading

Latest

University announces “White Awake” safe space for white students

The University of Maryland at College Park has set up a new diversity support group to create a “safe space” for white students to discuss their feelings.

Campus Reform

Published

on

Via Campus Reform:


Update: After publication of this article, University of Maryland-College Park changed the name of the group to “Anti-Racism and Ally Building Group,” along with a shorter description, which reads,  “Do you want to improve your ability to relate to and connect with people different from yourself? Do you want to become a better ally? Members will support and share feedback with each other as they learn more about themselves and how they can fit into a diverse world.”

In a statement provided to Campus Reform on Friday, the university explained the name change: “Our Counseling Center acknowledges that we did not choose the right words in raising awareness about this research-based initiative, and how this group has been perceived is counter to the values of inclusiveness and diversity that we embody. Therefore, we are renaming the group to better reflect our intention and values.”


The University of Maryland at College Park announced Friday a new diversity support group to create a “safe space” for white students to discuss their feelings about “interactions with racial and ethnic minorities.”

The support group, called “White Awake,” will help white students who may “sometimes feel uncomfortable and confused before, during, or after interactions with racial and ethnic minorities.”

“This group offers a safe space for White students to explore their experiences, questions, reactions, and feelings,” the description explains. “Members will support and share feedback with each other as they learn more about themselves and how they can fit into a diverse world.” The description asks students if they want to “improve [their] ability to relate to and connect with people different from [themselves]” or if they want to become a better “ally.” The new group is now one of four in the university’s “Diversity Issues” program series.The group is being led by Noah Collins, who works for the UMD Counseling Center, and will be held once a week. Collins specializes in group therapy and is interested “especially in the areas of racial and cultural awareness,” according to his faculty bio.The safe space has been met with harsh criticism from students on social media.

“I am ashamed over the execution of white awake nor do I fully understand its clause. ‘How they can fit into a diverse world’? Why do they need to attend therapy sessions on how to be a decent human being in society?” a UMD student wrote on Twitter. “Why do they need to have these sessions to learn how to coexist?”

“Just like classes. You can’t take one class and feel like you have all understanding over a certain subject,” the student added. “It takes practice, it takes problems, it takes more than one course, so ‘White Awake’ has good intention but I am skeptical over the fairytale result.”

Campus Reform reached out to Collins and UMD for comment but did not receive a response by time of publication. If and when a comment is received, the article will be updated.


Follow the author of this article on Twitter: @Grace_Gotcha

Liked it? Take a second to support The Duran on Patreon!
Continue Reading

JOIN OUR YOUTUBE CHANNEL

Your donations make all the difference. Together we can expose fake news lies and deliver truth.

Amount to donate in USD$:

5 100

Validating payment information...
Waiting for PayPal...
Validating payment information...
Waiting for PayPal...
Advertisement

Advertisement

Quick Donate

The Duran
EURO
DONATE
Donate a quick 10 spot!
Advertisement
Advertisement

Advertisement

The Duran Newsletter

Trending