Anti-Free Market Bulls Gore with their Paper Horns the Gold Standard

By Con George-Kotzabasis-February 26, 2012

The matador, Associate Professor Henry Farrell, has unfurled his red rag before the rampaging cerebrally blind by fury anti-free market bulls to gore by their intellectually paper horns the Gold Standard. In their cognitive obscurantism ‘liberals’ are ignorant of the fact that it is on the “gold fetters” of the standard that price stability is based and the G.S. is an unequivocally effective hindrance to inflationary credit expansion that would lead to an economic crisis.

One has to take a lesson from the tour de force pages of Wilhelm Ropke, the main architect of the German economic recovery after the War–who is an admirable and illustrious predecessor of former president of France  Giscard d’Estaing, and former chancellor of Germany Helmut Schmidt–of the vital role the Gold Standard plays on the exchange mechanism and in the stability of the capitalist system, and the great damage it did during the depression, by aggravating the latter even more, when the U.S. abandoned it. “The abandonment of the gold dollar by the Roosevelt administration must, indeed, be viewed as one of the most disastrous acts on record of any government and any country in recent times, both for the country itself and for the rest of the world.” Wilhelm Ropke.

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Professor Varoufakis Proposes a Silent Axis between France and Greece Contra Germany

By Con George-Kotzabasis May 10, 2012

It’s interesting that you don’t mention one word about your one night stand with your inamorata Tsipras, the Radical Left leader of Syriza. But it’s obvious that Hollande replaced the latter in your gyrating amours, after the politically and economically inane and embarrassing post-election statements of Tsipras. And it won’t be long before you will be disappointed with President Hollande too with his dealings with Germany and you will be looking for a still more exotic paramour.

You are mired in the past when you still consider that the European leaders continue to push the austerity programme for the southern European countries as the sole measure of getting them out of the economic crisis. In the new economic orchestration of Europe the ‘soloist’ austerity no longer jingles. All the major European leaders, Jose Barroso, Olli Rehn, Chancellor Merkel, Wolfgang Schauble, the top technocrats, Christine Lagarde, Mario Draghi, and Mario Monti, are talking now about economic recovery and growth without which austerity cannot succeed. Thus they have all taken their cue from Antonis Samaras who was the only statesman that sounded this syndrome of austerity and growth two years ago and had quarrelled with Merkel and Sarkozi, for which he had been severely criticised and disparaged by politicians and the media, such as The Economist. All of them however admitted subsequently that Samaras was right. Hence there is already a sounding axis between Greece and the whole of Europe due to the intercession of Antonis Samaras. Moreover, Samaras warned the European leaders that the policies of the first Memorandum would change the political configuration of the country, as they would both give rise to the forces of the extreme left as well as lead to the break-up of social cohesion which in turn would make the country un-governable. These warnings were tragically verified in the elections of May 6. And I pose the question, why Professor Varoufakis you lack the nobility and courage to give credit where credit is due, to Samaras?

You seem to be obsessed with your toy The Modest Proposal that would drag Europe out of its crisis, and not finding any other children to play with it, you have turned into a surly and cantankerous little boy. Since, as its sire along with Stuart Holland, you flagged it more than a year ago you have made so many ‘bastard’ revisions to it, that it has become difficult to identify the ‘true father’. But one thing is for sure, that in your vainglorious pursuit to persuade governments and bankers to adopt it, you will miserably fail. Your Modest Proposal was always a flying kite that would inevitably take its nosedive.