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Source link: http://archive.mises.org/8724/the-prophetic-dr-hoppe-on-the-rise-of-the-phoenix/

The Prophetic Dr. Hoppe on the Rise of the Phoenix

October 7, 2008 by

In Hans-Hermann Hoppe’s important article Banking, Nation States and International Politics: A Sociological Reconstruction of the Present Economic Order (published in 1990 in the Review of Austrian Economics; reprinted as Chapter 3 in his The Economics and Ethics of Private Property), he notes one possible end-result of the state monopolization of money and credit. He notes the then-imminent rise of the ECU/Euro, and then predicts what might happen next: the combination of the three dominant currencies (at the time, the US dollar, the Japanese yen, and the Euro) into a new one-world paper currency (which might be called the “Phoenix,” say) run by a US-dominated World Central Bank. (We might add in now the Chinese Yuan, too.) With all the talk of the need for “coordination” among central banks to deal with the current crisis, and the anti-capitalist regulations that are sure to come, maybe the Phoenix is about to rise.

An extended quote from Hoppe’s paper is below.

With the European calculational chaos solved, then [by the creation of the ECU/Euro], and in particular with the European hard currency countries neutralized and weakened within a cartel that by its very nature favors more against less inflationary countries so as to protect and prolong U.S. hegemony over Europe, little indeed would remain to be done. With essentially only three central banks and currencies and U.S. dominance over Europe and Japan, the most likely candidates to be chosen as a U.S-dominated World Central Bank are the IMF [International Monetary Fund] or the BIS [Bank for International Settlement]; and under its aegis then, initially defined as a basket of the dollar, the ECU, and the yen, the “phoenix” (or whatever else its name may be) will rise as a one-world paper currency–unless, that is, public opinion as the only constraint on government growth undergoes a substantial change and the public begins to understand the lesson explained in this book: that economic rationality as well as justice and morality demand a worldwide gold standard and free, 100-percent reserve banking as well as free markets worldwide; and that world government, a world central bank and a world paper currency–contrary to the deceptive impression of representing universal values–actually means the universalization and intensification of exploitation, counterfeiting-fraud and economic destruction.

{ 18 comments }

eric lansing October 7, 2008 at 12:17 pm

the thing is, 6 billion people cannot be forced by, say a hundred thousand people, to accept a piece of paper as means of payment.

“What will replace the US dollar? It can only be gold…”

http://www.thelongwaveanalyst.ca/pdf/V5_1.pdf

Nick October 7, 2008 at 12:21 pm

Quote:

“…unless, that is, public opinion as the only constraint on government growth undergoes a substantial change and the public begins to understand the lesson explained in this book: that economic rationality as well as justice and morality demand a worldwide gold standard and free, 100-percent reserve banking as well as free markets worldwide; and that world government, a world central bank and a world paper currency–contrary to the deceptive impression of representing universal values–actually means the universalization and intensification of exploitation, counterfeiting-fraud and economic destruction.”

ROFL…ROFLMAO…OMG I’m crying…

Yeah, people are suddenly going to wake up and say – Hey, what’s that slapping my ass?

LOL – If that’s what we have to rely on then I better stop paying my bills and use that money to buy guns, ammo, food, and smokes to use for currency.

P.O'B. October 7, 2008 at 11:22 pm

How many of you guys are concerned about this “emergency summit” Bush has called for? You don’t actually think anything like above could come out of this, do you?

Anonymous October 8, 2008 at 10:01 am

Hey!? What’s that slapping my ass??

Bruce Koerber October 8, 2008 at 7:06 pm

Today the secretive agreements among the central banks that serve as the basis of world monetary hegemony came to the surface (for air!). Two things are apparent: 1). The unConstitutional coup is fearful of drowning in its own cesspool, 2). The U.S. dominated world bank already exists and is the monster behind all the wars designed to weaken any and all rival monetary systems.

After sucking in some air (the propaganda that a coordinated system of central banks is good for the world) the beast went back under the water of secrecy. Oh how sweet the vulnerablitity of the mammal in need of air, with all of its sucking and unweaned offspring!

The next time it surfaces the waves of the cries for liberty will gag the oxygen deprived behemoth. As its members flail (We know who one of the members of the unConstitutional coup is – Paulson) the wave of liberty becomes as one and casts the scum of the earth (the ego-driven interventionists) on the shore to rot while the ocean current regain their equilibrium.

Richard Romaine October 10, 2008 at 2:06 am

What, practically, can we do to undercut the beast that will destroy our savings and enslave us to nonsensical policies? Buy gold? Live in mud huts? Grow our own vegetables? What can we do on a practical daily basis to avoid our hard-earned time and “money” being sucked up by the inadequate policies of our time.

M.A. Hargett October 10, 2008 at 11:55 am

I’m afraid I am seconding Richard Romaine’s question. For those of us who are Johnnie-Come-Latelies and have had no ability or time to prepare, what is the answer?

MG Kouba October 10, 2008 at 12:10 pm

In responce to Misters Romaine and Hargett:

Dr. Edwin Vieira of Harvard University has suggested that all it will take is one state out of the entire union to make sound money an option.

I am petitioning my state legislature and putting the word out there that it is perfectly legal for Missouri, my home state, to take steps that would prevent the widespread devestation that will happen someday (sooner, more likely than later) from being quite as severe for us.

As a citizen, I feel that it the best I can do for my state, and ultimately my country.

TC Bell October 10, 2008 at 12:20 pm

Kouba,

Please do not think that any meaningful change is going to come through electoral politics; no matter how “local” it is.

ugh October 10, 2008 at 2:19 pm

This’ll be great! The evangelicals will be surprised to see that their own man (bush) is responsible for the one-world currency and the ensuing mark of the beast. (how else to impose currency controls on everyone?) Wasn’t it reported that Pope John Paul II feared he was the anti-christ?

Excuse me, What?

This isn’t prison planet.com?

Oh, Sorry.

Well, at least we’ll be able to stop worrying about the Amero.

Ugh

MG Kouba October 10, 2008 at 4:42 pm

Personally, I think consumers will be too suspicious of a new hard currency, unless the government approves it. If the state makes it legal to pay taxes in the new currency, I think it’ll have a fighting chance. If not, it’ll be much harder for a new currency to become useful in daily transactions.

JB October 10, 2008 at 9:36 pm

anyone ever read “The Reconstruction Acts 1868″ from Civil War era? You may ask what does this have to do with anything today..well this is what stripped our “union” of any states rights…the states have about as much independence to choose this or that as a 10 year old child. we’re done for…

JB

Erik October 11, 2008 at 2:03 pm

Re: M.A. Hargett.

What can you do to prepare? Go to SurvivalBlog.com This is “the” place to go and is the most popular site on the web for preparing. Buy the “Rawles Gets You Ready” preparedness course here… http://www.readyfortheworst.com

For the first time in nearly a year, it will be offered at 1/3rd off, starting on Monday. The course is centered around the concept of stocking up for a family, by making well-planned trips to a “Big Box” store.

Marco Costa March 24, 2009 at 2:01 am

‘In an essay posted on the People’s Bank of China’s website, Zhou Xiaochuan, the central bank’s governor, said the goal would be to create a reserve currency “that is disconnected from individual nations and is able to remain stable in the long run, thus removing the inherent deficiencies caused by using credit-based national currencies”.’

Gah! And how are they supposed to make us use them? International legal tender laws?

I feel sick. :-0

EotS March 24, 2009 at 7:40 am

I second (or third, or whatever) the point that if we’re counting on a mass-scale awakening by the public, we’re in for deep, deep trouble.

As the State fails, they’ll look to the State for solutions – right up until they’re loading people onto trains. Or perhaps not even then…

Dan March 24, 2009 at 9:25 am

igolder.com
e-gold.com
libertyreserve.com

Google DGC…

Goldie Locks March 24, 2009 at 12:10 pm

As long as their is food on the table and a roof over their heads, the world will tolerate inflationary theft and corruption. When the system fails to deliver the basic goods, no amount of paper money will make people comply with the wishes of their overlords.

Of course, this is why governments need standing armies–to ensure their survival when policies fail. But if there were a true systemic failure to provide the necessities of life, no amount of bullets will make people comply with the wishes of their overlords.

Globalization gives great power to the politico-financial cartel. It also creates the potential for global financial and industrial collapse. Just like interconnected electric grids in North America allowed continental blackouts, world-wide financial interconnections allow for world-wide catastrophe. Interconnections do not lead to stability; rather, they lead to a giant domino effect.

Globalization is not being created out of a natural need. It is being artificially imposed in desperation to keep a ponzi scheme going. Pyramid schemes need to bring in ever increasing numbers of victims to prop up the scam. The scheme is going global because it is rapidly consuming every last available mark.

The aftermath of ponzi schemes are ruined lives and financial failure. Generally this occurs in the context of a greater society that victims can integrate themselves back into and get a new start. But if the whole world is absorbed into a pyramid scheme, who will save us when it goes bust? And how much longer can it go on if we are literally recruiting every last person to be victimized?

What is going to happen?

EotS March 24, 2009 at 8:21 pm

Goldie Locks,

I agree with most of what you said, with exception to this statement:

“Interconnections do not lead to stability; rather, they lead to a giant domino effect.”

As a general statement, the more interconnected systems are, the more stable they are. Nature itself is highly interconnected, and if you want to look at a man-made version, look at the Internet.

Government doesn’t “interconnect” things, it conquers them. It imposes its rule on a greater and greater scale until it destroys everything in its domain.

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