Karl Marx: A Convenient Prophet
An article appeared on the dailyreckoning.com.au website (which incidentally is a pretty consistently good read) asking whether Marx could have predicted the latest worldwide trend for “nationalization” of everything that has a business name. I guess he called it Communism in his day. A quote is given, suggesting that Marx predicted in ridiculous detail the chain of events which have led to the present moment:
Owners of capital will stimulate the working class to buy more and more of expensive goods, houses and technology, pushing them to take more and more expensive credits, until their debt becomes unbearable. The unpaid debt will lead to bankruptcy of banks, which will have to be
nationalized, and the State will have to take the road which will eventually lead to communism.”
– Karl Marx, 1867, Das Kapital
The quote given indeed did not come from Karl Marx but seems to be based on a satirical article at newsmutiny.com entitled “Americans to Undergo Preschool Reeducation in Advance of Country’s Conversion to Communism”. Funny in itself, and amazing that people swallow this sarcastic humour, it is no wonder the Nigerians make money from their poorly written spam.
Marx predicted that capitalism would fail by its very nature and ultimately lead to communism. I personally think he was wrong.
Nobody knows if he is right. Nobody will ever know, because the capitalist system (insofar as it even exists) hasn’t been given a chance to fail and yet it is already being phased out.
The bankers at the Federal Reserve are educated and, more than all of us, informed. They knew what was coming and they are following their agenda and their time line. Like any project, things don’t always go according to plan, but people saw this coming from miles away. Mr. Madoff, for example, knew his game was up and was ready when he handed himself over. People all over the world saw the problems of the fiat monetary system and the errors of fractional reserve banking from its inception. They saw who benefited. Many, understanding how to exploit it, did so. Others forgot or couldn’t resist getting involved.
To say this is a failure of capitalism is the same kind of naive claptrap that feel-good-feel-bad Marxists everywhere will sell. It’s like saying World War I and II was an accident and all the heads of state had no idea what they were doing or knew of any potential consequences. Marxism is old hat.
What is occurring in the world is a major overhaul of the financial powerbase, a stripping of middle class financial power and centralization of government. It carries with it political, military and social consequences. Anyone who reads even the most basic headline news can see this and is rightly alarmed and anxious. Politicians everywhere call for “unanimous action” and a “New Order” for what started off as a regular market correction (albeit a large one) but has resulted in a worldwide financial collapse caused by banks who are refusing to lend and politicians who, like zombies, are sinking their constituents in debt and amassing power to themselves. Yet they intend, some day soon, to give this power away to a central world governing body, so that this financial collapse will “never again” happen.
When a martial artist is confronted with an enemy larger than himself, he will occasionally feign a fall as the enemy charges him. What he is doing, though, is using the enemy’s weight and momentum to his own advantage, as he grabs the enemy by the arm and throws him some distance (such as at some trashcans in the alleyway). The result is that the enemy is injured, but the martial artist escapes relatively unscathed.
The banks are playing dead, but in the end, they still have the control of money supply. It’s the taxpayer that will take the brunt of the fall and find himself disempowered. It has nothing to do with workers and Marx is just a distraction.