Skip to content

Austrians: Decry Usurpation, Demand Usury!

by on March 4, 2014

Wayne Walton has been making some splendid memes recently and he has been so kind as to make two for Real Currencies too! I could not resist sharing them here!

For all RC articles on the Austrian Economics con game, see Faux Economics.

Austrian Economics = Faux Economics

Austrian Economics = Faux Economics

 

Austrian Economics = Cognitive Dissonance

Austrian Economics = Cognitive Dissonance

 

 

 

 

 

About these ads
12 Comments
  1. Austrian Economics AND Public Banking serve the less than 1%.

  2. Hi Anthony. This video is awful but about 15 minutes in she mentions Matthew 25 (parable of the talents) as justification for usury. How would you rebut this? https://www.youtube.com/watch?v=7bA_NbYSaGM

    • Kevin Moore permalink

      Anthony may have his viewpoint but I see it this way –

      Christ spoke in parables for those with spiritual discernment for they were to be spiritually understood. “….For everyone to whom much is given, from him much will be required; and of whom much has been committed, of him they will ask the more…..” Luke 12:48
      .
      http://www.raystedman.org/new-testament/matthew/living-dangerously
      .
      “….When it was safely buried he could forget about it and go on about his own affairs. It was not there to make him uncomfortable by constantly reminding him of his master’s expectations. But since he took no risk for Christ’s sake he had also no spiritual influence, no impact for eternal good. His life counted for nothing; there was no spiritual power. It had all been lived for himself…..”

  3. Ross N. permalink

    Hudson on usury:

    Interest: Antiquity had no distinct word to distinguish interest from usury. The distinction was drawn by medieval Churchmen to contrast commercially productive loans with personal usury, on the logic that commercial creditors shared in the risk of profit-making business ventures under traditional legal terms that freed merchants from debt in cases where they lost the money through no fault of their own. In such cases commercial interest was supposed to cover the banker’s or other creditor’s cost of doing business, plus compensation for risk. (See however watered costs.) This Church ruling enabled credit to be extended to finance foreign trade (see agio).

    In practice, what legitimized the charging of interest-usury was borrowing by governments to spend on war.

    Henceforth, the ancient term usury was limited to interest charges in excess of the legal maximum. The maximum limit was raised steadily over time, and finally removed altogether by the 1980s when interest rates peaked at 20 percent.

    Interest, compound: See Compound Interest.

    Interest, mortgage: Mortgage interest represents about 70 percent of all interest charges in the U.S. and British economies. This revenue now absorbs all the otherwise taxable profits for the commercial real-estate sector, leaving no revenue available for the tax collector (and in fact creating “book losses” that investors use to offset income earned on their other operations

    http://michael-hudson.com/?s=compound+interest

  4. yak230@comcast.net permalink

    Hi Mr. Migchels,

    I have been following your blog for a couple months now and have a question. I agree with you on the negative effects of usury. My question is in regard to Art 1 Section 10 clause 1. Do you not agree that the founders proscribed paper money in favor of specie? It seems like you favor non-debt paper Treasury Notes. Were not the founders against fiat currency?

    do you have any articles addressing this issue?

    thanks,

    Ken Yakovac

    • Hello Ken!

      No, I don’t, but my friend Jason Erb has this to offer:
      http://fauxcapitalist.com/2011/04/30/the-u-s-constitution-doesnt-say-money-should-be-gold-or-silver-coin/

      In general I think the situation is not really clear. The constitution seems a little ambiguous. The phrase ‘to coin’ can be understood in more than one way.

      The framers of this document themselves were not really to clear on it. The colonies had done well with paper money and Jefferson later in life seems to have regretted not getting to the bottom of this issue when putting it together.

      In general, though, I tend to agree with Dubya: the constitution is just a goddamn piece of paper. Obviously we cannot run a country solely on the ideas of some masonic Plutocrats who have been dead for more two centuries now.

    • “Coin” is a verb and not a noun, so the form of the interest free fiat doesn’t matter.

      • Kevin Moore permalink

        “To coin money” according Websters Twentieth Century Dictionary is to “to make money rapidly; to be very successful or fortunate financially [colloq.]”

        “coin” noun [M.E.coyn, coyne, coin; OFr,,coin, a wedge, stamp, die, also a corner; L. cuneus, a wedge.]

        2. a piece of metal with a distinctive stamp and of a fixed value and weight, issued by a government and used as money.

  5. Kevin Moore permalink

    What of anything real or productive [ an asset ] do Banks use to be able to produce a representation of wealth called money?
    .
    As Banks do no labour they are parasites which need the real productivity of others in the form of promissory notes to put on the asset side of their ledger.
    .
    I can relate this NASB interpretation of the prophecy of Habakkuk chapter 2. to Rothschild –
    .
    1. I WILL stand on my guard post And station myself on the rampart; And I will keep watch to see what He will speak to me, And how I may reply when I am reproved.
    .
    2. Then the LORD answered me and said, Record the vision And inscribe it on tablets, That the one who reads it may run.
    .
    3. For the vision is yet for the appointed time; It hastens toward the goal and it will not fail. Though it tarries, wait for it; For it will certainly come, it will not delay.
    .
    4. Behold, as for the proud one, His soul is not right within him; But the righteous will live by his faith.
    .
    5. Furthermore, wine betrays the haughty man, So that he does not stay at home. He enlarges his appetite like Sheol, And he is like death, never satisfied. He also gathers to himself all nations And collects to himself all peoples. [ Mr Rothschild I have read owns wineries in France ]
    .
    6. Will not all of these take up a taunt-song against him, Even mockery and insinuations against him And say, ” Woe to him who increases what is not his — For how long — And makes himself rich with loans?’
    .
    7. Will not your creditors rise up suddenly, And those who collect from you awaken? Indeed, you will become plunder for them.
    .
    8. Because you have looted many nations, All the remainder of the peoples will loot you — Because of human bloodshed and violence done to the land, To the town and all its inhabitants.
    .
    9. Woe to him who gets evil gain for his house To put his nest on high, To be delivered from the hand of calamity!
    .
    10. You have devised a shameful thing for your house By cutting off many peoples; So you are sinning against yourself.

    11. Surely the stone will cry out from the wall, And the rafter will answer it from the framework.

    12. Woe to him who builds a city with bloodshed And founds a town with violence!

    13. Is it not indeed from the LORD of hosts That peoples toil for fire, And nations grow weary for nothing?

    14. For the earth will be filled With the knowledge of the glory of the LORD, As the waters cover the sea.

    • Kevin Moore permalink

      Excerpt from ‘Rabbi’ Reichhorns’ Funeral Oration published in, “la Vielle France” 21 Oct. 1920 [Number 195], ——
      .
      [7]. “We shall force the Christians into wars by exploiting their pride and their stupidity. They will massacre each other and clear the ground for us to put our own people into.” [8] “…….Our capital will make us their masters…….”
      .
      [6] “……….Jews have preached “democracy”, and through getting their dupes to believe in it, have succeeded in riveting on their necks the chain of Shylocracy, the rule of the CROWNED USURER, Shylock-Rothschild, who was admitted to Englands’ parliament by “Liberal” statesmen, and now rules the world. Jew Banks appear to be many, but in reality they are ONLY ONE. Reduced to impotence the Nations bow before the Law—–not of Moses even, but of the Jews Bank——”always united and always devoted to our [Jewish] cause.”
      The Fulfillment of Prophecies 1923
      .
      http://itccs.org/2013/01/18/
      “Gerrard Winstanley (1609 10 September 1676) was an English Protestant religious reformer and political activist during the Protectorate of Oliver Cromwell. Winstanley was one of the founders of the English group known as the True Levellers for their beliefs, based upon Christian communism, and as the Diggers for their actions because they took over public lands and dug them over to plant crops.”

      “For what you call the Law is but a club of the rich over the lowest of menrty to make you fat stands the Law of Creation, which renders judgement on rich and poor alike, making them one. For freedom is the man who will thus turn the world upside down, therefore no wonder he has enemies”

      Gerrard Winstanley, The True Levellers’ Standard, Surrey, England, 1649
      “Everyone that gets an authority into his hands tyrannizes over others; as many husbands, parents, masters, magistrates, that live after the flesh do carry themselves like oppressing lords over such as are under them, not knowing that their wives, children, servants, subjects are their fellow creatures, and hath an equal privilege to share them in the blessing of liberty.”

      “Was the earth made to preserve a few covetous, proud men to live at ease, and for them to bag and barn up the treasures of the Earth from others, that these may beg or starve in a fruitful land; or was it made to preserve all her children?”
      .
      From Protocol No.6
      “…….We shall soon begin to establish huge monopolies, resevoirs of colossal riches, upon which even large fortunes of the goyim will depend to such an extent that they will go to the bottom together with the credit of the States on the day after the political smash.”

      • John Cummings permalink

        please, no Protocols. they were a Czarist forgery.

  6. Fantastic, a picture is worth a thousand words, = is well depicted here. Two dead ones are missing, the cunning Calvin, and the goddess of this tricky bunch Ayn Rand, a fake atheist, but an ardent Zionist. There is No Zionism without U$ury, their evils projects are funded by Intere$t.
    Will share on Tweeter.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Follow

Get every new post delivered to your Inbox.

Join 2,031 other followers

%d bloggers like this: