Monday, August 31, 2015

Oh and btw, Zerohedge are still neo-Nazis

Zerohedge - Austrian economics is now equivalent to terrorism. This was where I found the link to that Daesh video on the gold standard (yes I feel dirty).

What's funny isn't so much that Daniel Ivandjiiski calls the video a case of US psyops:

The coins may not be there, but instead ISIS released a 55-minute propaganda video with the latest in straight to YouTube special effects, in which the ISIS voiceover actor says, in perfect English, "as history repeated itself, one of the great forms of corruption that the earth came to witness was the dark rise of bank notes, borne out of the satanic conception of banks, which mutated into a fraudulent system of enslavement orchestrated by the Federal Reserve in America - a private corporation and system that would, through the use of deceit and force, deprive people of their due, by imposing upon them the usage of the piece of paper that came to be known as the dollar bill."

"It is the Federal Reserve bank note that they alone print, and that would go on to replace gold and silver which Allah created as the standard mediums of exchange for the purchase of goods and services. Allah blessed the songs of the Khilafah and gave them the ability and foresight to break from the shackles of the Federal Reserve system and to restore the gold dinar, and the silver dirham as the ultimate measure of goods and services beginning in the birth place of the Islamic State."

The punchline: "the currency is meant to break the shackles of “the capitalist financial system of enslavement, underpinned by a piece of paper called the Federal Reserve dollar note."

It just gets better from there and for the next hour, the video basically goes through the failings of not only the dollar as the Fed's currency of choice, which since 1971 is no longer backed by any hard asset, but does a surprisingly good job of explaining the pitfalls of fractional reserve banking (30 minutes into the clip), which as many have witnessed first hand, nearly resulted in the collapse of capitalism, then several years ago, the Lehman failure showed that should financial counterparties fail, there is not nearly enough underlying assets to satisfy existing credit claims. It gets so funny, ISIS even bashes the petrodollar system (38 minutes in), and quotes Jim Rickards (39 minutes into the clip) as supportive of its "evil" observations.

What is implied, is that it does all this by making such observations and thoughts indicative of affiliation with ISIS, and hence, terrorism.

No, what makes it really funny is that Ivandjiiski has waived his supposed "anti-Nazi policy" and allowed his userbase to unleash a flood of racist comments, basically blaming the whole thing on (you guessed it) a Jewish conspiracy to (oh this is great) discredit Austrian economics and bring back Keynesianism.

Nobody ever changes their stripes. And right-wingers will always be fucking idiots.

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