Economic Reality – Greed Explains Everything

“Greed is good” – Gordon Gekko

ELDER PATRIOT – Most people are at a total loss to understand how a capitalist economy functions and why history has proven it to be the only effective way to lift the standard of living of the largest number of people the highest.  Forget all of the confusing terminology that emanates from the mouths of politicians and economists.  They are meant to create the impression that they are smarter than you are so that you revert to ideologically predisposed view and believe what you want to believe rather than spending the time to learn a simple truth, that greed underlies the actions of people.

Four quotes expose the entirety of what anyone needs to know about the benefits of the free-market system that our Founding Fathers bequeathed to us and why Leftists have always sought to undermine it.

“If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered…I believe that banking institutions are more dangerous to our liberties than standing armies… The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.” – attributed to Thomas Jefferson

There is some argument that Jefferson never wrote these actual words.  That matters little.  What we do know for certain is Jefferson was absolute in his opposition to a federal banking system.

Given the recent policies of the Federal Reserve to revive our flagging economy and the massive debt that those efforts have left us with can anyone argue that the privately owned central bank hasn’t proven that a central banking system is not the answer?  Quite the opposite, in fact.  Why?  Greed.

The noted economist Milton Friedman was asked by liberal talk show host Phil Donohue how he could defend the greed that is evident in our capitalist system.  His answer left Donohue without a response:

“Well first of all, tell me: Is there some society you know that doesn’t run on greed? You think Russia doesn’t run on greed? You think China doesn’t run on greed? What is greed? Of course, none of us are greedy, it’s only the other fellow who’s greedy. The world runs on individuals pursuing their separate interests. The great achievements of civilization have not come from government bureaus. Einstein didn’t construct his theory under order from a bureaucrat. Henry Ford didn’t revolutionize the automobile industry that way. In the only cases in which the masses have escaped from the kind of grinding poverty you’re talking about, the only cases in recorded history, are where they have had capitalism and largely free trade. If you want to know where the masses are worse off, worst off, it’s exactly in the kinds of societies that depart from that. So that the record of history is absolutely crystal clear, that there is no alternative way so far discovered of improving the lot of the ordinary people that can hold a candle to the productive activities that are unleashed by the free-enterprise system.”

The final two quotes together explain Leftist’s reasoning for their determined undermining of capitalism.

“Permit me to issue and control the money of a nation, and I care not who makes its laws!” – Mayer Amschel Baier Rothschild  (The Rothschild family is generally acknowledged to be the richest family in history)

Leftists will argue that Mayer never uttered those words.  Again, that matters little.  The sentiment is universally shared by Leftists around the world from Communist China to the old Soviet Union and beyond.

Then there was this statement from William Pitt: “Let the American people go into their debt-funding schemes and banking systems, and from that hour their boasted independence will be a mere phantom.”

Now, economist Ken Shortgren reports in his column that appears on and, the central banks are now discussing the need to ban cash and ending capitalism entirely.  Undeterred by the consistent failure of their policies that has led us to the brink of worldwide bankruptcy they insist we trust them one final time, a final time from which there would be no coming back.  Why?  Greed.  The control of money in the hands of a few would result in untold wealth for them.  They understand that the control of money in the hands of the people results in increased wealth, albeit however humble, for the people and not so much for them.

There it is, so simple a seventh grader can understand it.  Of course, with Leftist control over our school curriculum they will never hear this in any of their classes from teachers who themselves never learned these simple truths.

The Founding Fathers gave us a decentralized government where decision-making was vested in the people to the largest degree possible and Leftists have been working to consolidate those powers ever since. 

At this time it is important to remember another quote, this one from the oft-maligned Ronald Reagan:

“Freedom is never more than one generation away from extinction. We didn’t pass it to our children in the bloodstream. It must be fought for, protected, and handed on for them to do the same, or one day we will spend our sunset years telling our children and our children’s children what it was once like in the United States where men were free.”

We have elected men and women who either ignored these truths for personal gain or are too stupid to understand them.  Either was, they put their hand on a bible and swore an oath to protect and defend the United States.  They haven’t and for that they must go.