Pressure is growing from society's debtors and borrowers (the majority of voters) for their debts to be liquidated via printing press counterfeiting. Which is nice.
Eminent voices within the Bank of England's circle of friends are now calling for zero per cent interest rates.
Obviously this bid for debt destruction via the the machination of the printing press is appalling for creditors and savers (the minority of voters), therefore destructive of long term wealth and capital creation, but what the heck. Whatever the United Kingdom's voters want the United Kingdom's voters will get, even if it is absolutely the wrong thing to do. Thus, the God of Democracy is revealed in his full majesty.
Yes, you might argue that a man dying of thirst in a desert is willing to sell a gold bar for a glass of water, regardless of the long-term investment consequences, but we are about to start exchanging investment gold for opiate poison. Even the Chicagoan monetarists saw what happened to Japan when the zero per cent experiment was tried there, but no doubt there will be a whole host of excuses and tinkerings to "make it work better", this time, based upon "what we learned" from Japan.
You would also have thought that Keynesians and their ridiculous counterfeiting ideology were destroyed by their stagflation play book in the 1970s. But no; they're still with us, having crawled back out of the woodwork. These same Big Government idiots who got us into this mess and who failed to predict the consequent worldwide meltdown when their Keynesian confidence trick failed, still think that they possess the right to lead us into another calamitous set of Big Government policy initiatives which will make everything even worse.
Whereas those who predicted exactly what would happen (i.e. the Austrians) are to have their solutions completely sidelined. What can you do?
I know. To hose down the debt even quicker, why don't we just print ten million pounds for every man, woman, and child, in the United Kingdom, and then get everyone to collect it from their local post office this Friday? That way we'll all be rich before the weekend and none of us will ever need to borrow anything from a bank, ever again. Whoopee!
For an even cheaper solution, all we need to do is authorise everyone in the country to add an extra zero to every bank note they currently have in their possession. Actually, let's make it two zeroes! No, people might be worried about getting their fingers a little bit inky. The even easier solution is just to add ten million pounds to everybody's bank accounts, silently and electronically, to avoid any fiddling about with any messy paper or ink.
You see, AngloAustria has the answers. And with absolutely no pain whatsoever. After all, if creating fictitious money out of thin air is good enough for the Bank of England to solve global problems, it ought to be good enough for everyone else to solve their own local problems, surely?
Just ask Robert Mugabe:Or even better, just ask one of his country's billionaires about how it feels to have been made so rich by their glorious socialist leader: