Economics–War And Tax - 1 March 1969

ne of the ways major Western powers will lose was once explained to me by a friend of mine, a famous US senator.

     He said that the drain of “brush wars,” rising taxes and resultant inflation could be maintained for only a few years after which, because of economic collapse, the communists might win after all. That was several years ago—1955.

     When one sees that the gold reserves of the US are at this writing at a minus 21 billion and that they have done a steep 9-year, 45º dive since their zero in 1960 (American Institute for Economic Research, Boston, report of 17 Feb. 69), one can understand what he was talking about.

     The uninterrupted plunge leaves the International Monetary Fund holding about $39.7 billion worth of gold demands on the US only slightly offset by US balances.

     Oddly, in the same report, the 1968 US produce year of food was 3 percent higher than the record-high year of 1967.

     As big bankers are also strangely found to be directors of psychiatric front groups, one begins to see that they are not always as pleasantly minded toward man as one might be led to believe by their press officers and press chains.

     Peculiarly, the economic doctrine followed by Western governments for the last quarter century is that of Lord Keynes.* The germ (or bacteria) of the Keynes theory (as I was carefully taught at one of these universities they say I never attended), is simply this: “Create want!” Followed to its natural end this means starvation would produce prosperity (for whom?).

     Now the “International Monetary Fund” was founded by Lord Keynes and the famous communist Harry Dexter White.

     By paying out gold and never demanding lend-lease payments in gold, the US public is getting its throat cut very nicely. The US soldier shortly won’t have an economically stable country to support. Inflation will have sent the dollar away with the wind.

     These international bankers are satisfied only with “increased taxes to stabilize the currency.”

Economics continued...

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