Bongino: The Plot to Steal the Economy
By: Dan Bongino | March 14, 2016
Jacquelyn Martin | AP Photo
I’ve written a couple of books and I’ve even co-written a
movie script, but nothing I have ever written tells a story as
diabolical as the one I’m going to tell you here. Let’s pretend
you are a socialist in training and you are looking to take over the
economy, using government force and bureaucratic expansion as your
weapons of choice. How would you do it if you wanted to conceal your
intentions? Well, it’s already being done and here’s how.
They don’t call Japan’s decade of economic troubles the “lost decade” because it was a time marked by booming economic growth.
The first step in the economic takeover is to use taxpayer money, or taxpayer subsidies, to reward your crony friends through purchasing interests in PRIVATELY held businesses. How is this happening you ask? The European Central Bank recently followed Japan’s poor example and decided to expand its asset portfolio by purchasing corporate bonds. Take a moment to think about this. The European Central Bank is using its Euro-Zone monopoly power over money to buy stakes in non-government assets? How do they decide which businesses get to take part in this central bank largesse?
The opportunities for corruption and influence peddling here are myriad as government interference in the private economy typically ends poorly. They don’t call Japan’s decade of economic troubles the “lost decade” because it was a time marked by booming economic growth. Whenever government tries to pick economic winners and losers, it usually picks the losers, while the political winners continue to get re-elected because their campaign coffers are filled with business lobbyists eager to get their snouts in the tax-payer-funded trough.
The second step, after you have used taxpayer money to buy off private businesses, is to ensure that you can tax the private economy at confiscatory rates and use the taxpayers’ money to buy off more businesses and more votes. Also, you must ensure that there are no exit ramps to avoid this taxation. How is this happening you ask? It’s happening through two mechanisms. The first mechanism is the move towards negative interest rates. Negative interest rates are predicated on the idea that charging consumers for idle money in their bank accounts will “stimulate” the economy by incentivizing them to spend it. This farce of a policy is really a scam to ensure that big-government types and wanna-be socialists run up big government debts through their nanny-state spending plans and that the debts they run up are devalued over time. High interest rates make the money you hold worth more. But it also makes debts more difficult to pay off as the value of that debt goes up and up. This is one of the core reasons that big-government types love inflation and low interest rates. The bills can be delayed as they debase the currency and pile on the debt, which is then slowly inflated away.
Once you’ve used taxpayer money to buy off companies, and run up enormous government debts with devalued currency, you have to make sure your citizens can’t escape with their money before the pending collapse. How is this happening you ask? It’s happening through a global “war on cash.” Through capital controls, and the influence of misguided economists, governments such as Sweden have been actively promoting electronic payments in lieu of cash. When cash disappears the only way to acquire goods is through electronic transactions which, conveniently for the government, can all be monitored and taxed. And when the negative interest rates grow to punishing levels, and you begin to lose larger and larger amounts of money every day your money sits in your electronic bank account, there is nowhere for you to go because cash will be illegal to have or difficult to use.
What a deal huh? Take our money and give it to your crony business friends. Then spend all of our tax money on your big-government agenda. Then run up huge debts which will never be paid off because you are debasing the currency. And, finally, make sure the angry citizens cannot escape by pulling their money out of the failing system and moving to cash. Genius… if you’re a diabolical big-government, wanna-be socialist intent on destroying the lives and futures on hundreds of millions. Someone should write a movie script.
They don’t call Japan’s decade of economic troubles the “lost decade” because it was a time marked by booming economic growth.
The first step in the economic takeover is to use taxpayer money, or taxpayer subsidies, to reward your crony friends through purchasing interests in PRIVATELY held businesses. How is this happening you ask? The European Central Bank recently followed Japan’s poor example and decided to expand its asset portfolio by purchasing corporate bonds. Take a moment to think about this. The European Central Bank is using its Euro-Zone monopoly power over money to buy stakes in non-government assets? How do they decide which businesses get to take part in this central bank largesse?
The opportunities for corruption and influence peddling here are myriad as government interference in the private economy typically ends poorly. They don’t call Japan’s decade of economic troubles the “lost decade” because it was a time marked by booming economic growth. Whenever government tries to pick economic winners and losers, it usually picks the losers, while the political winners continue to get re-elected because their campaign coffers are filled with business lobbyists eager to get their snouts in the tax-payer-funded trough.
The second step, after you have used taxpayer money to buy off private businesses, is to ensure that you can tax the private economy at confiscatory rates and use the taxpayers’ money to buy off more businesses and more votes. Also, you must ensure that there are no exit ramps to avoid this taxation. How is this happening you ask? It’s happening through two mechanisms. The first mechanism is the move towards negative interest rates. Negative interest rates are predicated on the idea that charging consumers for idle money in their bank accounts will “stimulate” the economy by incentivizing them to spend it. This farce of a policy is really a scam to ensure that big-government types and wanna-be socialists run up big government debts through their nanny-state spending plans and that the debts they run up are devalued over time. High interest rates make the money you hold worth more. But it also makes debts more difficult to pay off as the value of that debt goes up and up. This is one of the core reasons that big-government types love inflation and low interest rates. The bills can be delayed as they debase the currency and pile on the debt, which is then slowly inflated away.
Once you’ve used taxpayer money to buy off companies, and run up enormous government debts with devalued currency, you have to make sure your citizens can’t escape with their money before the pending collapse. How is this happening you ask? It’s happening through a global “war on cash.” Through capital controls, and the influence of misguided economists, governments such as Sweden have been actively promoting electronic payments in lieu of cash. When cash disappears the only way to acquire goods is through electronic transactions which, conveniently for the government, can all be monitored and taxed. And when the negative interest rates grow to punishing levels, and you begin to lose larger and larger amounts of money every day your money sits in your electronic bank account, there is nowhere for you to go because cash will be illegal to have or difficult to use.
What a deal huh? Take our money and give it to your crony business friends. Then spend all of our tax money on your big-government agenda. Then run up huge debts which will never be paid off because you are debasing the currency. And, finally, make sure the angry citizens cannot escape by pulling their money out of the failing system and moving to cash. Genius… if you’re a diabolical big-government, wanna-be socialist intent on destroying the lives and futures on hundreds of millions. Someone should write a movie script.
- See more at:
https://www.conservativereview.com/commentary/2016/03/plot-to-steal-the-economy#sthash.1R5LHO6w.Dh9L6H7g.dpuf
Bongino: The Plot to Steal the Economy
By: Dan Bongino | March 14, 2016
Jacquelyn Martin | AP Photo
I’ve written a couple of books and I’ve even
co-written a movie script, but nothing I have ever written tells a story
as diabolical as the one I’m going to tell you here. Let’s pretend you
are a socialist in training and you are looking to take over the
economy, using government force and bureaucratic expansion as your
weapons of choice. How would you do it if you wanted to conceal your
intentions? Well, it’s already being done and here’s how.
The first step in the economic takeover is to use taxpayer money, or
taxpayer subsidies, to reward your crony friends through purchasing
interests in PRIVATELY held businesses. How is this happening you ask?
The European Central Bank recently followed Japan’s poor example
and decided to expand its asset portfolio by purchasing corporate
bonds. Take a moment to think about this. The European Central Bank is
using its Euro-Zone monopoly power over money to buy stakes in
non-government assets? How do they decide which businesses get to take
part in this central bank largesse?
The opportunities for corruption and influence peddling here are myriad as government interference in the private economy typically ends poorly. They don’t call Japan’s decade of economic troubles the “lost decade” because it was a time marked by booming economic growth. Whenever government tries to pick economic winners and losers, it usually picks the losers, while the political winners continue to get re-elected because their campaign coffers are filled with business lobbyists eager to get their snouts in the tax-payer-funded trough.
The second step, after you have used taxpayer money to buy off private businesses, is to ensure that you can tax the private economy at confiscatory rates and use the taxpayers’ money to buy off more businesses and more votes. Also, you must ensure that there are no exit ramps to avoid this taxation. How is this happening you ask? It’s happening through two mechanisms. The first mechanism is the move towards negative interest rates. Negative interest rates are predicated on the idea that charging consumers for idle money in their bank accounts will “stimulate” the economy by incentivizing them to spend it. This farce of a policy is really a scam to ensure that big-government types and wanna-be socialists run up big government debts through their nanny-state spending plans and that the debts they run up are devalued over time. High interest rates make the money you hold worth more. But it also makes debts more difficult to pay off as the value of that debt goes up and up. This is one of the core reasons that big-government types love inflation and low interest rates. The bills can be delayed as they debase the currency and pile on the debt, which is then slowly inflated away.
Once you’ve used taxpayer money to buy off companies, and run up enormous government debts with devalued currency, you have to make sure your citizens can’t escape with their money before the pending collapse. How is this happening you ask? It’s happening through a global “war on cash.” Through capital controls, and the influence of misguided economists, governments such as Sweden have been actively promoting electronic payments in lieu of cash. When cash disappears the only way to acquire goods is through electronic transactions which, conveniently for the government, can all be monitored and taxed. And when the negative interest rates grow to punishing levels, and you begin to lose larger and larger amounts of money every day your money sits in your electronic bank account, there is nowhere for you to go because cash will be illegal to have or difficult to use.
What a deal huh? Take our money and give it to your crony business friends. Then spend all of our tax money on your big-government agenda. Then run up huge debts which will never be paid off because you are debasing the currency. And, finally, make sure the angry citizens cannot escape by pulling their money out of the failing system and moving to cash. Genius… if you’re a diabolical big-government, wanna-be socialist intent on destroying the lives and futures on hundreds of millions. Someone should write a movie script.
They don’t call Japan’s decade of economic troubles the “lost decade” because it was a time marked by booming economic growth.
The opportunities for corruption and influence peddling here are myriad as government interference in the private economy typically ends poorly. They don’t call Japan’s decade of economic troubles the “lost decade” because it was a time marked by booming economic growth. Whenever government tries to pick economic winners and losers, it usually picks the losers, while the political winners continue to get re-elected because their campaign coffers are filled with business lobbyists eager to get their snouts in the tax-payer-funded trough.
The second step, after you have used taxpayer money to buy off private businesses, is to ensure that you can tax the private economy at confiscatory rates and use the taxpayers’ money to buy off more businesses and more votes. Also, you must ensure that there are no exit ramps to avoid this taxation. How is this happening you ask? It’s happening through two mechanisms. The first mechanism is the move towards negative interest rates. Negative interest rates are predicated on the idea that charging consumers for idle money in their bank accounts will “stimulate” the economy by incentivizing them to spend it. This farce of a policy is really a scam to ensure that big-government types and wanna-be socialists run up big government debts through their nanny-state spending plans and that the debts they run up are devalued over time. High interest rates make the money you hold worth more. But it also makes debts more difficult to pay off as the value of that debt goes up and up. This is one of the core reasons that big-government types love inflation and low interest rates. The bills can be delayed as they debase the currency and pile on the debt, which is then slowly inflated away.
Once you’ve used taxpayer money to buy off companies, and run up enormous government debts with devalued currency, you have to make sure your citizens can’t escape with their money before the pending collapse. How is this happening you ask? It’s happening through a global “war on cash.” Through capital controls, and the influence of misguided economists, governments such as Sweden have been actively promoting electronic payments in lieu of cash. When cash disappears the only way to acquire goods is through electronic transactions which, conveniently for the government, can all be monitored and taxed. And when the negative interest rates grow to punishing levels, and you begin to lose larger and larger amounts of money every day your money sits in your electronic bank account, there is nowhere for you to go because cash will be illegal to have or difficult to use.
What a deal huh? Take our money and give it to your crony business friends. Then spend all of our tax money on your big-government agenda. Then run up huge debts which will never be paid off because you are debasing the currency. And, finally, make sure the angry citizens cannot escape by pulling their money out of the failing system and moving to cash. Genius… if you’re a diabolical big-government, wanna-be socialist intent on destroying the lives and futures on hundreds of millions. Someone should write a movie script.
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