Oct. 9, 2010
Ellen Brown is the latest representative of an inflationist movement that began in the 186s in the United States: the Greenbackers. They hate banks. They hate the gold coin standard. They love the State. They say that, merely by printing money, the welfare state can be funded without taxes, debt, or inflation.
They are economic utopians. They keep publishing their books on how this never-land can come into existence. Ellen Brown's book, The Web of Debt (2006) is by far the best-selling book on this since the 1930s. It is getting a hearing in Tea Party circles.
I have created a new department that examines here errors, one by one. It examines her economic errors. It examines her historical errors.
You may think, "Why is this book worth all this effort?" Because it's selling. We are seeing websites multiplying that promote this error. She rides the wave of hostility to the Federal Reserve System, persuading readers that mere hostility to the FED justifies a fiat-money currency and the welfare State. It doesn't.
The average person's ignorance of economics is matched by his ignorance of American history. So, a person like Brown finds victims galore. They are angry about the Federal Reserve, as well they should be. They are angry about the Federal government's bailouts of the banks. No argument there. But what if the cure is worse than the disease? What if the Congress nationalizes the FED -- as she recommends -- and pays off the national debt with unbacked paper money, as she also recommends? She promises that this will not cause price inflation. But she cannot prove this.
Why are people taken in? Because, deep in their hearts, the really do believe in something for nothing. They believe that pieces of paper with dead politicians' pictures on them can make them rich, pay off their debts, and bring in economic Nirvana. They are, deep in their hearts, socialists. They read a book like this and rejoice. Their deliverance draweth nigh!
No, it doesn't. Their enslavement draweth nigh. Ellen Brown is the high priestess of this enslavement.
The Greenbackers have been trying to take over the conservative movement since 1950. They are false-flag infiltrators. Ellen Brown is leading the tiny band of Greenback theorists. That is why I have responded, chapter by chapter, to her book. This will not persuade people who believe in something for nothing. For them, the philosophy of stones into bread is a constant temptation. But if someone really wants economic arguments against another brand of utopian statism, my department will serve.
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