It is both interesting and instructive for the student of Austrian Economics to watch the predictable panic and superimposition of Draconian economic measures that Socialists always display when their economic Ponzi schemes start to unravel.
And so it is that that angel, Angela Merkel, and her German BaFin financial controlling body, have gone berserk in the face of the continued fleeing of investors from their Euro, and banned “naked” short selling of both Euro bonds and 10 large banks and insurers. You can be sure that when major world markets like the Euro-Socialists start imposing ad hoc rules, out of thin air, to try to control their markets, then panic has set in amongst the Socialist politicians. That huge Socialist rip-off, known as the Euro, is being shown for what it was; an attempt to give everything to everybody, without any pain, in the name of that eternal Socialist rallying call, “social justice”. I wonder how those who were not receiving any socialist benefits in Europe must feel as they see the value of all they’ve saved lose several years bank interest every few days, from currency devaluation. The little people of Europe are realizing that not all Socialists live east of the Berlin Wall. Indeed, it was more like no Capitalist ever lived to the West of that wall, until you got to America, and even that is stretching it a bit, given America’s 40% Socialist system.
Of course, things like trading bans are just red flags in front of bulls, (yes, I know they’re colorblind) or rather bears, and tonight’s reaction in Europe, as the rules are suddenly changed by the Germans out of thin air, should be of great interest to the Austrian School of Economics student. Those investors with some knowledge of history know that trading bans are merely Fascist impositions on the free-market, whether carried out by Hitler, Mussolini, Franco and Mugabe, or Merkel, Geithner, Obama, and (now thankfully gone) Mr. Brown. And those impositions are not taken very fondly to heart by millions and millions of investors.
Merkel says she is in a war with the speculators, and she will win. But she is actually at war not only with the “speculators”, as she so disparages Free-Market Capitalists, but also with vast numbers of small investors. And when they hear “trading ban” they know that something is rotten in Denmark (or is it Frankfurt and Brussels?). If she thinks that she is so powerful that she can micturate into the financial winds and not get the gift of blowback, then she is just another Socialist politician, with absolutely no idea of what the Free-market and risk taking means. But politicians all receive their paychecks from the government, not from consumers like real Capitalists must.
The German dreams of their Fourth Reich ruling over all Europe are fast becoming a National Socialist beerhall hallucination from the past. The Draconian financial Putsch announced only a few hours ago put an end to all that.
Capitalism uber alles!
Hooooooooooooooooooooooooooowwwwwwww! — Silverwolf