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The PJ Tatler

by
Stephen Green

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March 26, 2013 - 8:04 am

There’s video at the link, but this quote from Steve Forbes ought to shock you right down to your socks:

Before a final deal was done, Forbes penned a piece explaining why Cyprus could be a disaster for all of us, lamenting the attempt to seize depositors money. But with a final bailout agreed upon that saves insured depositors, is it less of a disaster?

“Not really,” he tells The Daily Ticker. “Because the idea’s out there that now in a crisis politicians won’t hesitate to seize any asset they can lay their hands on. So it just guarantees more fear in the future when a crisis comes, which it will come.”

On the other side of the Atlantic, the European Central Bank isn’t allowed to run the printing presses like Ben Bernanke has been doing at the Fed these last few years. So, the grubby statists will seize whatever assets they can get their panicked little hands on.

On this side of the Atlantic, the grubby statists will keep the printing presses running until the value of your assets (and their debts) is inflated away.

I’m reminded of Ellsworth Toohey’s big speech to Peter Keating in Ayn Rand’s The Fountainhead. Only instead of the examples being Eastern Europe and Western Europe, it’s the eurozone and Obama’s America. Here he is:

Look at Europe, you fool. Can’t you see past the guff and recognise the essence? One country is dedicated to the proposition that man has no rights, that the collective is all. The individual held as evil, the mass – as God. No motive and no virtue permitted – except that of service to the proletariat.

That’s one version. Here’s another. A country dedicated to the proposition that man has no rights, that the State is all. The individual held as evil, the race – as God. No motive and no virtue permitted – except that of service to the race. Am I raving or is this the harsh reality of two continents already ? If you’re sick of one version, we push you in the other. We’ve fixed the coin. Heads – collectivism. Tails – collectivism.

One way or another, the State will take what it likes.

For a book written before the Second World War, I’d say it’s aged pretty well — wouldn’t you?

Stephen Green began blogging at VodkaPundit.com in early 2002, and has served as PJMedia's Denver editor since 2008. He's one of the hosts on PJTV, and one-third of PJTV's Trifecta team with Scott Ott and Bill Whittle. Steve lives with his wife and sons in the hills and woods of Monument, Colorado, where he enjoys the occasional lovely adult beverage.

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Why bother to take something that is worthless?
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