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Milton Friedman: A Sales Pitch

Updated on August 24, 2014
Milton Friedman, a Nobel Prize winner for Economics has been influencing economies since the late 1970's.
Milton Friedman, a Nobel Prize winner for Economics has been influencing economies since the late 1970's. | Source

Sales Pitch to the Unwitting Post 911 Electorate

There is a sophisticated documentary being passed around that capsulizes the history of the western economy from the time of the Knights Templar and their eventual evolution into the Illuminati that had a profound influence on the French Revolution and all things bourgeois following that. The influence of the Illuminati was not always so secret as it is now and their ideas spread to Britain and the US. The Illuminati learned from their predecessors how to be bankers and money changers. Such concepts as loaning on interest and fractional reserve banking were first developed centuries ago and carried forward to the 20th century where it was established in the chief banks of the US and Britain. Fractional Reserve banking simply stated means that a bank can loan out several times more money than it actually has in supply. This is done by manipulating script and then loaning that out with interest to be returned to the bank in payments. The bank thus supposedly makes money by drawing value “out of thin air”, getting back more than it gave out in loan. This is a risky business built on the trust that savings loaned to the bank at smaller interest by masses of depositors, will not all be taken out at once en masse. This money is “recycled” at higher interest to borrowers. Legally, banks can loan out ten times more than they have in actual reserve, with the backing of other banks like the Federal Reserve that loans to loaners in a chain of command.

Loan interest varies from low interest to those who have substantial collateral by way of fixed capital assets to high interest loans to unsecured credit card holders. Almost everyone has some kind of loan attachment to the banks based on huge quantities of fractional reserve lending. This is the basic explanation and there is a sales job of a type that proposes a solution that proposes to end fractional reserve banking as a solution to the economy based on the capitalist model. That model of eliminating the fractional reserve part to contract the money supply to what is actually available in the banks has been done before with disastrous results for several countries where the model was applied. These countries were in the southern cone of South America, Central America and Iraq where poverty, social unrest and torture under a military junta was used to enforce the austere economic contraction. It is a policy that is now being sold to and directed to Europe, Canada and the US with the same tactics, at first by way of a sales job and eventually by terror, poverty and oppression. It is being promoted by non other than one of the largest protest movements to come along since the 9-11 attack on the world trade center, i.e., the 911 Truth organization. It is the concept of Milton Friedman and the Chicago School of economics. It is a hellish future of grinding poverty and torture, unless the working people determine otherwise. It is the next step of capitalism after the fractional reserve lending system that made everyone a slave to debt and a handful super rich and powerful enough to direct the fate of the world. Now the loans are being recalled with austerity and terror in the wake.

Building the Friedmanite Hit list

Milton Friedman is the economic and political philosopher behind the shock doctrine that serves as the contemporary tool of the capitalist exploiter in the form of absolute capitalism. Milton Friedman created the so-called “Chicago School” of followers that was first used in South America when Allende was overthrown by Pinochet on Sept 11th, 1973. Pinochet was convinced more than many others to use the full shock doctrine in order to give capitalism “absolute free reign”. Among the various shocks was the near total abolition of social programs such as welfare, daycare, pensions, medical insurance, unemployment benefits, unions and the like. In addition, all national and government programs and banks were privatized, so there were private oil, private banks, private power, private infrastructure and so on. Anyone who “stood in the way” was subject to being “disappeared”, tortured and executed in a public display. This included many teachers, union organizers, those who complained of any policy of lowering wages in a period of hyperinflation and were seen as opposition to the junta in any way. The torture was conducted in sports arenas, hospitals and in many other areas. People hearing the screams of victims were driven from many public places in fear. The dead by torture were dropped by plane in the oceans, but they washed up, sometimes several at a time. Bodies were seen washing down the rivers. Some bodies even landed in farmers fields from the planes. Eventually, Augusto Pinochet woke to the fact that the Friedman approach to absolute capitalism was disastrous, but by then it was too late. He was left to rule a country where 30 percent were unemployed and inflation was almost 400 percent a year. Under Allende, unemployment was ten times less and inflation was almost non existent. The Chicago School went on to take over all the southernmost countries and bringing untold misery and poverty to tens of millions, while a handful of people got super rich locally and in the US. The Shock Doctrine next emerged under the Clinton regime in Iraq, where millions died, were plunged into the stone age, had to adapt to a radioactive wasteland and ruined economy, privatized and held by foreign CEOs.

But the Friedman philosophy could only arise in North America itself only after Ronald Reagan deregulated the economy in 1984, allowing for the complete privatization of the US and Canada, while getting the working people to pay the tab. The collapse that came from the sub-prime mortgage crisis of Sept.-Oct. 2008 that led to the destruction of Bear-Stern, AIG, Fannie Mae, Freddie Mack, J P. Morgan and many banks was built on the earlier deregulation of the economy. The loss of industry such as Ford Motors and GM with the tacit approval of labor faking union bosses who discouraged any form of meaningful intervention grew out of the same collapse. The fix was to bail out the big banks and CEOs to the tune of 1.6 trillion dollars and export industry to China and India in 2009, the only two economies to grow when all other economies shrank. Obama who won on the promise of change, turned out to hold the course of Bush, his predecessor. He the promised and delivered a further 3.8 trillion in bailout. This served to devalue the dollar and raise cost of living for some 60 million new poor in the US. Much of this stems from the Friedman philosophy of the Shock Doctrine and Disaster Capitalism. This is a home grown exercise of what was done in South America and Iraq.

From there we turn to Canada, that has been undergoing an experiment in the Shock Doctrine in British Columbia since the Liberals won a near absolute rule in 2001. For four years, BC lived under the dictatorship of Gordon Campbell. He won in 2005 and again in 2009 with majority governments, demonstrating the ignorance of the working poor and their faith in this heartless Friedman follower. In months, Campbell had managed to roll back several decades of social programs, eliminated protections to tenants, tore up the NDP land settlements for the First Nations, froze the minimum wage for a decade, created a sub standard “training wage”, raised taxes, privatized power and infrastructure, threw a multibillion dollar Olympic party during a depressed economy and deregulated the provincial economy, thus raising the Provincial debt to disastrous proportions. At the same time, there has been no increase in minimum wage for a decade and few changes to benefit any social programs. The paramedics in BC have been on strike for over two years over issues of service and benefits. The government has chosen to ignore them and the safety of the working people of BC. Wait times for ambulance response in outlying areas is dangerously long and deadly for most who have heart or breathing problems. Campbell does not care and would like to see all medical practice privatized. This means if you're poor, you're dead. The same government has openly lied and betrayed promises. Gordon Campbell et al have at least in one occasion, censored free speech and backed another NDP enacted censorship in order to create a positive atmosphere for the 2010 Winter Olympics that the poor will have to shoulder to the tune of 6 billion and counting. The province has become militarized and functions as a de facto police state with virtually random street beatings and executions. There was the strange disappearance of the Facebook No HST protest page with over 130,000 members. Recently another protest page disappeared. No HST has been reinstated as mysteriously as it disappeared. A former BC Premier, Van Der Zalm, in the former the Socred party has come out to create a petition that protests the HST, but this is the same man who single handed, sent the Socred party the way of the dinosaurs due to his corruption and conflict of interest. During his reign, he enacted some barbaric legislation against the poor and the working class. He cannot be trusted due to his record being one who was in history, part of the chain of command in the march to absolute capitalism.

We wonder if this strange case that has occurred after the de-facto passing of the hated HST, the proroguing of the Federal government and just prior to the start of the 2010 Olympics fits in with the greater Chicago School of the Shock Doctrine philosophy. If this is the case, then the two groups that have been targeted for possible investigation, have created a hit list of some 140,000 BC residents that could be targeted for disappearance and outsourced to torture facilities under various new agreements and extradition laws. Consider the tasering of Robert Dziekanski and the beating death of a downtown east side resident by the police. Consider that an active anti-poverty advocate was “confused” with a criminal fleeing from a car B&E crime and shot dead on sight. Consider the beating and crippling of Firoz Khan by off duty police because they didn't like brown people. The police have illegally profiled innocent people like construction laborers for the purpose of harassment because they “look like drug addicts”. These are just what is known in prominent cases and there are many more incidents. Consider the fact that BC has been militarized for the upcoming 2010 Olympic games with over a billion dollars on security alone consisting of private security, three police forces and the Armed forces with support from the US air force. Vancouver, Whistler and roads between them will be regulated with strict military protocol access control as if everyone is a terrorist. The Vancouver Airport has the distinction of installing the first backscattering Imaging devices; the so called X-ray machines that strips off your clothes in a virtual strip search and doses you with a high amount of ionizing radiation. Most people of BC had absolutely no access at all to the games, but they are encouraged to spend money on useless trinkets and souvenirs. These are all symptomatic of a greater problem. All of this has been confirmed and extended in other sources from the daily newspapers of Vancouver, to the internet and left papers. On the facts, they are in agreement if not in solution.

The hit list is by no means limited to strange goings on within the Facebook social network. All militant groups are under scrutiny. In another article we described how the police set up a front organization to stir up trouble and entrap legitimate protest over poverty issues, homelessness, First Nations concerns and hysterical anti-trust. Fascists and anarchists were organized for a false flag op and were used in Vancouver in the Olympics to defuse protest and the G8-G20 meet up in Toronto to justify mass arrests and police terror. News of the disappearance of two tonnes of ammonium nitrate has created concerns that there would be something horrific in the works that will lead to martial law and round-up of all undesirables and political opponents to the Friedman philosophy of shock capitalism and corporatist sponsored torture. Locals had an eye out for what they considered the disappearance of the homeless, allegedly to mine shafts in Trail and Kamloops BC.

A large part of modern capitalism is disaster management such as seen in Malaysia, New Orleans and now Haiti. In Haiti alone, they now estimate ten years to rebuild, but who will pay? It could work if Haiti is privatized to rich tourist, gambling and prostitution interests, just as Cuba was once run by organized crime and Mr. Batista prior to its revolution. These arose from natural disasters. But there are manufactured ones as well as in the wars of Iraq, Afghanistan and by the looks of it, soon to be Iran now being torn apart by civil war and attacks by robot bombs against prominent nuclear scientists.

So how did BC rate a Friedman make over? In 2001, the Liberals took all but two seats in the entire legislature by vote. Gordon Campbell seized the moment and reversed several decades of reforms, proving once and for all that capitalism cannot sustain and maintain reforms. Campbell gutted social programs and privatized the province, paving the way and setting the example for the rest of Canada. Modern day capitalism is undergoing its own “revolution” begun under Reagan in 1984 that involves the use of the Shock Doctrine that uses every conceivable shock from economic, technological, social, warfare, false flags, public relations get togethers, misinformation, propaganda, censorship, corporatist sponsored torture and more. This revolution is against the entire working people and peasant farmers of the whole world. In addition, there is no regard for the destruction of nature. The goal of capitalists today is to privatize the entire planet and even outer space for personal profit of a few. Capitalist banks are the tool in use to effect this process. Recent bids for Iraq oil companies attest to this fact, where Russia won the right to the oil by outbidding competition. To counter such tactics will require the full might of the working people of the world. They will have to unite under an informed and dedicated leadership of liberation to remove the people of the world and nature from the ultra oppressive yoke of the Friedman capitalist shock doctrine. The choice is clear: Freedom of slavery of the type seen in Peenemunde, Mittlewerk and Nazi concentration camps.

Fractioanl Reserve Banking Explained


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