Posted inincome inequality

Rich People Love Socialism

February 23, 2016109 Comments

One of the biggest problems with the current conversation on income inequality in America is the leniency with which people get to define their ideal political economy.  Socialism has taken on about 15 different meanings with god knows how many “definitions” accompanying it.  There is revolutionary socialism, democratic socialism, national socialism and Marxist-socialism all of which look very similar once in practice, miserable.  Whether you get your inspiration from Denmark or North Korea, neither place is a happy place. People in Denmark consume more anti depressants than any where else in the world, second to Iceland-another allegedly socialist country. Let’s skip all of this nonsense, shall we?

The definition of socialism is the (violent) over throw of the means of production into the hands of the state and the abolishment of private property.  Capitalism is exactly the opposite, it is a system which allows for the ownership of private property and voluntary exchanges between people, it is peaceful and requires sound money.  Socialism is not peaceful, it requires force be used through a military or police force.

Capitalism is like saying “hammer” and socialism is like saying “tool”, because if the private sector is not handling the allocation of resources, then the only other option is government.  This is absolutely black and white.  It is like being pregnant: you are either pregnant or you are not pregnant there is absolutely no third choice. If you are a revolutionary socialist, democratic socialist etc, then you are to some degree removing the right to own private property.  They are all the same, the only thing that varies is the degree of crazy.

When free market capitalists sound like they are calling everything under the sun socialism from: free healthcare, to nationalizing banks, to government intervention, to regulations, to bailouts and all the way down to central banking they are correct in doing so.  This is why I said that socialism is like saying “tool” there are many different kinds of tools and hammers (capitalism) basically serve one purpose, to put in and take out nails. If you advocate the removal of free market principles you are in fact advocating socialism to some degree.

So you may ask, why do rich people love socialism? Because if you are advocating government to remove free market competition in the private sector, it becomes very difficult or impossible to compete with the largest corporations. Rich people do not want you in their way, more on this later.

Socialism appeals to regular people because it gives them a false sense of security that they will be taken care of no matter what, despite all evidence to the contrary.  Universal healthcare sounds great, until you go and visit a VA hospital.  We can’t even take care of our veterans so we should take on another 320 million people? In theory socialism is great for the common man.  The reality is very different.

I have very little interest in the false promises of socialism, the purpose of this article is to explain what is always left out about socialism: why the rich love it. Here is the real reason: central banks, like the Federal reserve create monopolies on the creation of money, they act as slush funds for the rich to dip into at the expense of the average person.  The create an inflationary process which creates a gradual evaporation of purchasing power and causes a transfer of the ownership of property from the people who produced it (workers), to the people in the government (or who are most influential to it) and banks.

Socialism is truly evil, it makes the cost of living increase, fosters dependency and is a trick the rich came up with to transfer your property to them.  They have absolutely no desire to relinquish their private property, just for you to relinquish yours.  That is the end goal of socialism, massive income inequality.

When wealth is controlled in the hands of a small group of already very rich people through a central bank they begin the process of deliberate expansion and contraction of the money supply through inflation and deflation and the artificial fluctuation of interest rates. This is known as the boom-bust cycle. This process only serves the ultra wealthy, investors, speculators and harms savers, people on pensions and fixed incomes. Enormous amounts of wealth transfers at the expense of group A to Group B

Because as previously mentioned at the beginning of this article our definitions in this conversation are so skewed I frequently hear that: panics, boom-bust cycles and depressions are caused by ‘unfettered’ free markets and competition between banks, therefore socialists call for more government regulations which was the entire cause of those problems in the first place.

Socialism causes the above mentioned problems because it disrupts the free market and results in the prevention of competition through government machinations which grants monopolistic powers to a central bank.  Competition and only competition keeps rich people honest and prevents them from using central banks as a personal slush fund at the expense of everyone else.

If you care to learn more about why rich people love socialism then join my wealth transfer newsletter!

 

 

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