The Ethics of Money Production
Posted by Orrin Woodward on July 28, 2014
Jorg Guido Hulsmann
The Cobden Centre’s Andy Duncan did an excellent review of Jorg Guido Hulsmann’s fantastic book The Ethics of Money Production. In my opinion the number one battle for freedom begins with checking the Five Laws of Decline (FLD) destruction of the monetary system by the State elites. What is the point in checking government through representative government, separation of powers, term limits if the government can have access to practically unlimited funds? The State, simply by partnering with the Big Banks, runs a fraudulent Fractional Reserve Banking system anchored by the State’s favored central bank to bilk society’s monetary system.
Indeed, my new book And Justice For All spells out how the elites plunder the production of society. Since Adam Smith and Jean Baptiste Say, economists have recognized the 3 factors of all production – labor, land, and capital. The elites have plundered all three factors of production. Thankfully, Human Slavery (the plunder of society’s production through the monopolization of labor) is diminishing worldwide along with Land Serfdom (the plunder of society’s production through monopolization of land). However, Financial Subjection (the plunder of society’s production through the monopolization of capital) is exploding.
Why is it, you ask? Simply put, society cannot resist oppression until it discovers its source. The central planning of the financial system is inconceivable, illogical, and inconsistent since its underlying presuppositions run counter to our alleged free market system. Nonetheless, because the FLD rewards too tempting to ignore, the State and Big Bankers fill society with propaganda designed to confuse and disorient. As a result, the elites capitalize on society’s ignorance for massive FLD gains. Fortunately, anyone who invests the time to read and understands The Ethics of Money Production will not remain ignorant.
LIFE Leadership intends to play its part in educating society in the 8F’s of life to play its part in the restoration of liberty. Below is a portion of Andy Duncan’s review.
Sincerely,
The book is divided into three beautifully-written main parts:
- The Natural Production of Money
- Inflation
- Monetary Order and Monetary Systems
These three parts cover everything you might think of, from the invention of metallic money all the way through to the end of Bretton-Woods and then the later creation of the Euro. However, the heart of the book is a sequence of four chapters — in the second part of the book on Inflation —with two of these chapter titles, alas, unfortunately insisting on the use of American spellings and the appalling employment of the letter ‘zed’; the chapter content, however, is still very good, even if has fallen under the unwelcome control of an American spell-checker:
- Legalized Falsifications
- Legal Monopolies
- Legal-Tender Laws
- Legalized Suspensions of Payments
When you are the elite organisation calling yourself ‘The State’, you have a monopoly on law in a particular territory; it is with this power that you can subvert and distort the natural order of private property, thus leading to the impoverishment and helotry of everyone else within that territory, under your rule, even leading to the ridiculous notion that any debt this elite runs up — to maintain their position of privilege — is somehow ‘owed’ by the subjugated population, despite no-one ever asking their opinion about whether this debt should have been taken on by the elite and despite all the benefits of the spending of that debt going directly into the grasping hands of that same privileged elite.
The whole problem with money is the state’s imposition of legal privileges for bankers, given to bankers in return for the promise that they will always soak up the debts of politicians, to enable politicians to enslave their populations over time in a Procrustean bed of warfare and welfare, to the ultimate benefit of the politicians and their friends, and to the detriment of everyone else.
These chapters make clear how that mechanism of monetary enslavement operates, and therefore how we can break that mechanism and become free again from the appalling bondage of government bonds. It is with the removal of these legal privileges and a restoration of the natural order of private property rights that we will be able to put the wheels back on the cart, get moving again, and put the politicians back in their place,
13 Responses to “The Ethics of Money Production”
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Randy Robson said
This is a great book.
Steve Meixner said
I just placed an order for the book! Thanks Orrin,
Steve
Heather Woods said
This sounds like a marvelous book to read–and soon! As Oliver DeMille says economics and monetary policy are moral issues. The author is absolutely right. Until we get that corrected, we can’t put the wheels back on the cart and move forward. Politicians have done a bang-up job convincing the people that economics are too complicated to understand and not worth the effort to learn. It was a key move for them to get away with the plunder they have wreaked on us! Let’s thwart their efforts and educate people, one individual at a time and get moving in a positive direction!
Kim Black said
I wouldn’t know where to begin or how to educate myself on how our monetary system works without this business. I think that most of society, including myself (not too long ago) felt overwhelmed and helpless to do anything about the direction our countries were heading. It is liberating to know that there are authors who care enough to do the research and share with the public the truth. We all need to step up and do our research and read and listen to all that we can. Our government, monetary system, rights and laws are our business, every single one of us. I look back now and feel so naive to think I went about my own life and relied on my government take care of me. To sit and do nothing is not acceptable anymore. We allowed our governments to promise to take care of us through our childhoods, working years and retirement.
We should have been learning how to continuously put money aside for all our needs throughout all stages of our lives. We should always stayed informed as to what our governments are doing and how. It’s our business to do so. Thank you Orrin for opening our eyes and giving us hope for a better future for our kids. Let’s do our part to make a difference.
Kim Black
Elaine Mallios said
So much here Orrin! Thank you for doing all the research and relating it so I can understand. Admittedly, I had to look up words three times! Holy smokes we are being stretched to fit the bed – Procrustean. The book will be very interesting.
Rob Robson said
Thanks for taking the time to write this Orrin! You once told me that “Economics is the easiest doorway into the philosophy of freedom”. I completely agree! Once the masses are let in on the scam that has been perpatrated against them, they will immediatly see the fraud of the left/right paradigm and immediatly see that the real political division is between the sheep and those that hold the sheers.
CJ Calvert said
Thanks for this, Orrin. Reading And Justice for All was an eye opener, because before your writings, I never gave much thought to Financial Subjugation. Thanks for being a fantastic educator!
Steve Meixner said
Orrin, Just received my book in the Mail! 80 pages in, Wow, the stuff I did not know!!! Thanks for the Education,
Steve
Abraham Friesen said
This is so TRUE Orrin, I’m currently reading your book IN JUSTICE FOR ALL. All I can say is AMAZING and WELL RESEARCHED. Keep up the FREEDOM FIGHT Orrin, I’m with you all the way!!
Jessie Ogle said
I just received my copy in the mail. I’ll be reading it very soon. I love And Justice For All so much that I bought 5 copies to share with close friends that tend to complain and always pull the victim card. Delivering the first one this morning. Thank you for being a great leader and showing us the light through your inspiration and education. I’m All In!
Greg Nguyen said
Chris Mattis suggested I post this. He hasn’t seen it so he is not endorsing it, but this is information I’ve gathered. Please perform your own due diligence, as this is not financial advice. It is for informational purposes only.
It’s a year old, but it’s relevant information on the bank bail-outs in the 2008 financial crisis, and what is coming with new banking “reforms”–the bank bail-ins. More recently, money market funds “gating” reforms have also been adopted by the SEC.
Bottom line: bank deposits are on the banks’ balance sheets–the account holder is now an unsecured creditor holder, i.e. an investor in the bank. Same concept applies with money market funds in brokerage accounts.
I would love feedback from readers refuting my findings. In other words, I hope I am wrong, but I fear I may be right. I included a quote from former FDIC Chairwoman Sheila Bair. I also included a link from the Huffington Post, traditionally a liberal website to quell any criticism of conservativism. This is not about the Democratic or Republican parties. This affects every individual, company or institution with a bank or brokerage account.
bank bail-in
Chris Olson said
Orrin right on again.
Jim Wilson said
Orrin,
I remember well when I was a young man. I’m 73 now. I remember Edward Kennedy promoting the idea of buying things on credit now and paying them off later with cheaper dollars. He forgot to tell us that our wages and salaries wouldn’t keep up with inflation. Also, he forgot to tell us that interest rates would go from two and 3% up to 20 and 30%. I have learned more about economics in the last two years then I did in the previous 70 years. Thanks Orrin, Jim Wilson