The Austrian School of Economics was funded by the Rockefeller Foundation and the William Volker Fund. The same people who created the United Nations and wrote the Federal Reserve Act of 1913 got what they paid to have funded, a utopia for bankers and bureaucrats and a dystopia for the rest of us. To understand this dystopia, you only have to follow the deductive logic of the Austrians.
First, you have to borrow gold from the bankers to pay rent to the bankers to be on their land. Next, you have to borrow gold from the bankers to pay a toll to the bankers to travel across their land to find a stick. Then, you must borrow gold from the bankers to purchase the stick from the bankers. Finally, you can pick up the stick and engage in anarchy. However, you must be made aware the bankers have an army with bigger sticks.
You could just enter into a “free market” agreement to work for the bankers who have all the land and gold. If you’re strong, they might hand you a stick, a uniform, and a nice job of enforcing the laws of the “free market”, designed of course for and by the people who funded the Austrian School of Economics.
It doesn’t stop there. Gold increases in value as more and more people enter the bankers’ dystopian “free market.” With deflation, people wouldn’t be able to afford their debts, so the banks start to partially back the money by gold and loan at interest several times over what they have in reserve. This increases the money supply. This is called fractional reserve banking. At any time, the banks can stop loaning their partially backed gold notes and decrease the supply of money, resulting in a deflationary depression where the banks start to grab all the land as people go bankrupt on their loans.
You and the other peasants could decide you’ve had enough of this blatant tyranny. You could refuse to follow the rules, grab a stick, and go after the bankers and their army. Unfortunately, the bankers’ army has guns, tanks, fighter jets, nuclear bombs, navy ships, and chemical weapons. The bankers also own all the television stations, and all the people who work for the bankers enjoy their iPhones and all the stupid programming on television stations so you’re not going to find many anarchists to join you.
There would be no place to run if the world was ran by the same bankers under a world gold standard and without agrarian justice. There would be no escape. You either would have to work for the bankers or die because the bankers already own all the land and resources.
That is Henry Hazlitt in one lesson. It is certainly not economics in one lesson. It is only a glimpse into the complexity and corruption of political economy. There is no such thing as anarchy as long as there is more than one person. We have to cooperate and share the planet. The government has the duty to issue the money and strictly regulate the supply of money to prevent both inflation and deflation.
Austrian Lesson #2
The greatest deception of Austrian economics is a lie of omission. This lie holds the key for humanity to break the chains of debt slavery and they dare not mention it under any circumstance.
I’m referring to the most important financial decision an independent nation may make – does it use sovereign credit or sovereign debt?
Sovereign Debt – The sovereign debt route typically entails a nation using its credit to issue bonds which act as collateral and a pledge to borrow money. The collateral is the backing of the people and both private and public property. It is an instrument of debt.
Sovereign Credit – Enables nations to directly issue money instead of bonds. Both bonds and money are backed by the SAME collateral, the difference is that sovereign credit is totally debt free.
Thomas Edison elegantly explained the difference in a few paragraphs that are more succinct and important than a library of economic books:
“If our nation can issue a dollar bond, it can issue a dollar bill. The element that makes the bond good, makes the bill good also…
Both are promises to pay, but one fattens the usurers and the other helps the people. If the currency issued by the Government was no good, then the bonds would be no good either. It is a terrible situation when the Government, to increase the national wealth, must go into debt and submit to ruinous interest charges…”
There is only one way to restore the republic and break free from debt slavery – we must once again issue our own money!
Larry
I of course agree with the basic contention Larry.
But keep in mind the problem not debt, its interest:
http://realcurrencies.wordpress.com/2011/10/07/the-problem-is-not-debt-its-interest/
Both debt free money and interest free credit are viable models:
http://realcurrencies.wordpress.com/2012/01/03/mutual-credit-the-astonishingly-simple-truth-about-money-creation/
“The Austrian School of Economics was funded by the Rockefeller Foundation and the William Volker Fund.”
Nice. Starting off with a lie. You’re thinking of the Chicago School of Economics.
someone hasn’t read the biographies of ludwig von mises, including the one written by rothbard. you might want to check mises.org. easily verified fact. nice try. i hate to inform you but lincoln, einstein, edison, jesus, aristotle, and ceasar (among many others) all believed in cheap money. debt-free and commodity-free is ideal. you think these people might understand macroeconomics and monetary system better than you do? you think you might be the one fed lies by rockefeller and the world bank founder?
“Many readers may be surprised to learn the extent to which the Graduate Institute and then Mises himself in the years immediately after he came to United States were kept afloat financially through generous grants from the Rockefeller Foundation. In fact, for the first years of Mises’s life in the United States, before his appointment as a visiting professor in the Graduate School of Business Administration at New York University (NYU) in 1945, he was almost totally dependent on annual research grants from the Rockefeller Foundation.” – Richard M. Ebeling, The Life and Works of Ludwig von Mises
http://www.independent.org/publications/tir/article.asp?a=692
HERE IS THE SOURCE OF THE ROCKEFELLER FOUNDATION AND WILLIAM VOLKER FUND FUNDING OF LUDWIG VON MISES AND OTHER AUSTRIAN ECONOMISTS DIRECTLY FROM THE LUDWIG VON MISES INSTITUTE
http://mises.org/resources/3248
http://mises.org/daily/3896
Now, GFY
Why on earth would a mass murdering dictator, a physicist, an inventor, a judeo-christian social philosopher who claimed to be God, a greek philosopher and a Roman dictator know anything about macroeconomics?
The Austrian School was founded in the late 19th century by Carl Menger, building on a tradition dating back to the French physiocrats in the 13th and 14th centuries. I’m quite sure that predates the Rockefeller foundation and William Volker fund by a few centuries at least.
Murray Rothbard worked for a brief while at the Volker fund, then he left. So what? Mises spent most of his time in his native Austria, he only moved to America in his late 50s. Most, if not all of his seminal work, including “A Theory of Money and Credit” and “Human Action” was written in Austria, in German.
So yes, to say that Rockefeller and Volker founded the Austrian School is a blatant lie.
You are calling Rothbard, mises.org, and the Independent Institution (a Libertarian foundation) a bunch of liars because that is where I read the information. Seems you don’t know who the liar is because you don’t check facts. If you actually checked facts and weren’t a typical brainwashed libertarian jerk, you wouldn’t embarrass yourself.
“Many readers may be surprised to learn the extent to which the Graduate Institute and then Mises himself in the years immediately after he came to United States were kept afloat financially through generous grants from the Rockefeller Foundation. In fact, for the first years of Mises’s life in the United States, before his appointment as a visiting professor in the Graduate School of Business Administration at New York University (NYU) in 1945, he was almost totally dependent on annual research grants from the Rockefeller Foundation.” – Richard M. Ebeling, The Life and Works of Ludwig von Mises
http://www.independent.org/publications/tir/article.asp?a=692
More information can be found direct from the source from Murray Rothbard’s biography of Ludwig von Mises and an article published at the Ludwig von Mises Institute.
HERE IS THE SOURCE OF THE ROCKEFELLER FOUNDATION AND WILLIAM VOLKER FUND FUNDING OF LUDWIG VON MISES AND OTHER AUSTRIAN ECONOMISTS DIRECTLY FROM THE LUDWIG VON MISES INSTITUTE
http://mises.org/resources/3248
http://mises.org/daily/3896
Lincoln was a mass-murdering dictator? I was born and raised in the South, and I actually decided Lincoln was a great man trying to hold the union together, free the slaves, and free all of humanity from the usury and control of money issued as debt through fractional reserve banking.
I also added a gem from Einstein on my quotations page…
“The gold standard has, in my opinion, the serious disadvantage that a shortage in the supply of gold automatically leads to a contraction of credit and also of the amount of currency in circulation, to which contraction prices and wages cannot adjust themselves sufficiently quickly.” — Einstein, “The World As I See It”, 1934.
Seems Einstein is under the opinion that the Austrian School of Rockefeller Foundation and William Volker Fund Banker Propaganda are full it as well.
I flagged you as spam. Now go away. The Austrian School of Economics was funded by old world bankers and robber barons. They promote a feudalistic economic philosophy in complete opposition to the Founding Fathers, Classical Liberalism, and Biblical Economics. The Austrian School of Economics are a bunch of economic tyrants promoting socialism for the rich. The Austrian School of Economics aren’t Libertarians. They’re a bunch of land and banking fascists, blocking the truth.
Gosh, such fabrications! The fact is that the Rockefeller Foundation assisted over 500 scholars, that would have otherwise probably perished under the thumb of the NAZI regime. If you logic was correct then that must also mean that all the others who were helped by the Rockefeller Foundation, such as the mathematicians, scientists, historians, physicists, musicians were also all in the elitist scheme for global domination since they too were funded. Sorry, but your conclusions don’t really make much sense. That being said however, I do agree with you about Lincoln, he was a murderer, a tyrant and a destroyer of the Republic.
So is it fabrication or did the Rockefeller Foundation fund Ludwig von Mises?
Considering Lincoln kept the Union together, kept it from foreign invasion, freed the slaves, and who tried to free all Americans from usury with the sovereign debt-free Greenback, used to fund the Civil War, like George Washington funded the American Revolution with the sovereign debt-free Continental, which leads even a Senator from Canada to believe Lincoln gave his life to try, knowing full well that the bankers were a greater enemy than the Confederate army, I consider your words about Lincoln a complete fabrication.
I believe I’m a real Libertarian who is able to think. I believe you’re a royal libertarian, a gullible person who will believe in any snake oil sold to you with slick funding and the obfuscating language of Ludwig von Mises. Opinions are like assholes. We all have one.
Henry George was self-funded and self-published. He also sold more copies of Progress and Poverty than the Rockefeller Foundation’s Human Action, which is a good indication the world isn’t full of gullible assholes like yourself.
Oh, and Jefferson does not agree with you. Jefferson believed in progressive taxation of property, was against government using national debt, and against the chartered banks issuing money as debt. Jefferson was a Real Libertarian, not a Royal Libertarian.
Ah! Now I know where Meme hunter got his data, it’s from you!
Great stuff! I wrote a major article for Henry Makow’s site about this. It blows the whole lot out of the water, doesn’t it?
http://realcurrencies.wordpress.com/2012/02/17/how-the-money-power-created-libertarianism-and-austrian-economics/
Reblogged this on Recovering Austrians.