Mittwoch, 28. Juli 2010

The Road to Authoritarianism

"We remind our readers of the common political roots of all zombies because central banks and other GSEs are fascist constructs (see Yahoo TechTicker "Fascist" Fed Will Put the Squeeze on GE Capital"). The lack of accountability and corruption so visible in the handling of the financial crisis in the U.S. and around the world, to us, simply proves that many of our financial and governmental institutions are becoming more and more fascist -- this because they follow an authoritarian form of governance, as opposed to democracy or classical liberalism. For example, when the officials who run the Fed oppose public audits of their operations, they reveal the fascist, authoritarian tendencies of the central bank for all to see. A monetary authority in a democracy that truly serves the public interest has nothing to hide. But instead concealment is the current priority for central banks from Washington to Beijing -- both because of the excess of debt and the paralell growth of official corruption."

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