No Government, No Force

Doug Casey on the ‘Worsening Storm,’ QE3 and the Hard Assets Alliance

by Anthony Wile interview with Doug Casey — The Daily Bell?
Source article republished at and again here on

[No-Ruler will share only excerpts here — the full source article is SO worth the time!]

Excerpts of Doug Casey interview:

“A depression is a period of time when most people’s standard of living drops significantly. I think we can argue that this one really started in 2008. For the last couple of years, by printing up trillions of currency units, governments have ? so far successfully ? papered things over. Instead of allowing markets to liquidate, their currency printing has made it possible for people to continue living beyond their means. It’s just a question of time before things really come apart…

everything the government is doing ? and not just the US government but governments everywhere ? is not only the wrong thing but exactly the opposite of the right thing...

…spending a trillion and a half dollars more than it’s taking in… It’s not going to stop because it’s entirely structural at this point in time; it’s going to get worse. If you look at where the government spends its money, it’s actually very interesting, as well as disturbing…? [Outlay chart at source]

“…If you abolished the praetorian agencies like the ATF, the FBI, the DEA, the CIA and the NSA and the regulatory agencies like the FDA, FCC, SEC, DOT, DOA, HEW, HUD, EPA, EEOC and so many more ? it’s an endless list ? that alone would help the economy boom and give us some prospect of recovery, some possibility of not having the US government declare bankruptcy. But that’s a fantasy, a pipe dream; meaningful reform is not going to happen..

“Congress…not just part of the problem; it is the main problem... Everything…is constitutional; it’s all been arbitrated by the Supreme Court.

As much as I like Ron [Paul’s] solution of observing the Constitution ? the entire Constitution ? it’s not realistic in the totally corrupt political system we now have. Any part of the Constitution that deals with maintaining liberty for the individual against the state ? which is to say the important parts of the document, the parts that made it unique ? are now meaningless. In fact, anyone who quotes the Constitution now runs the risk of being jailed, in the interest of “national security,” as a subversive, a dangerous anti-government radical or perhaps sent to an institution for psychiatric procedure…

There’s simply no hope for any change without totally draconian measures. Of course, we are going to get draconian measures but they are going to be the kind that make things worse, not make things better.

It shouldn’t be an issue of what the Fed should be doing ? the Fed shouldn’t exist. I don’t believe in price controls of any type, and for the Fed to determine interest rates, to overrule the market, is just a form of price control. The Fed should be abolished, as it serves no useful purpose whatsoever. It never has. It’s not necessary. With its current policies, the Fed is creating gigantic distortions in the markets, in the ways people produce and consume. The longer they suppress interest rates in a vain effort to keep unsustainable economic patterns going, the worse the collapse is going to be….

“…if you vote the bums out you are just going to get a new set of bums. What kind of people do you think want to be politicians? Primarily sociopaths. The elections are a ridiculous charade performed every four years. People imagine that if you vote for Tweedledum, that he will somehow be an improvement over Tweedledee. There is vanishing little difference between the left wing of the Republicrat Party and the right wing of the Demopublican Party; they’re really the same thing. They are both philosophical statists and collectivists. The only difference between the two US parties is that while the Republicans pretend to like the free market, they definitely dislike social freedom. And while the Democrats pretend to like social freedom, they definitely hate economic freedom. What a choice! There’s no real difference between them; they’re just distinctions of rhetoric...

“… the Federal Reserve should be abolished, I’m forced to conclude that anyone trying to prop up the structure is either a knave or a fool, or both. But, looking at the bright side, perhaps Bernanke will unwittingly cause Keynesianism to be utterly discredited in the years to come.

“…almost nobody ? wanting to buy government debt at close to zero interest rates, the Fed will continue buying most of the debt out there. And it is actually creating super money; the purchase of debt by the Fed is actually the engine of inflation, the most effective one. The purchase of US government debt by the Federal Reserve will not only continue but necessarily accelerate.

Daily Bell: What’s going on in Libya these days? Mali? Syria?

[With this the article continues at length with discussion on many nations and the liklihood of more wars.? It’s also very good; this is more reason to visit the source.]

Doug Casey has appeared on hundreds of radio and TV shows and has been the subject of articles in People, US, Time, Forbes, The Washington Post, and numerous other publications. For nearly three decades, Doug Casey and his team have been correctly predicting major budding trends in the overall economy and commodity markets

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1 Comment

  1. An amazing article – the best I have read in some time. I believe Doug is spot on in his assessments and conclusions. Most of us will have to ride out this storm, and none of us will have much help from any government source, and that’s disgusting. BUT, Americans are resilient, resourceful, and bright – that is good, because those who are NOT may not make it.

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