a fictional character made up by a terrible person
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The Mogambo Guru (TMG, as he phrase it) is a regular contributor to Bonner and Wigginson’s “The Daily Reckoning” and in a recent piece he explains why the John Galt strategy won’t work, and at the same time, why Michelle Malkin‘s strategy won’t work, either:

Dr. Helen Smith, who is a Tennessee forensic psychologist and political blogger … “dubbed the phenomenon ‘Going Galt’ last fall” which is “a reference to the famed Ayn Rand novel Atlas Shrugged, in which protagonist John Galt leads the entrepreneurial class to cease productive activities in order to starve the government of revenue.” [Ms Malkin] apparently is not interested in guns, and sums up the situation of “Going Galt” as being that “There’s only one monkey wrench that can stop the redistributionist thieves’ engine. It’s engraved with the word: Enough.”

Ayn Rand came up with this “don’t work and starve the government of revenue” idea for the fictional John Galt in her novel Atlas Shrugged, which was written in 1957 when the dollar was still more-or-less linked to gold and thus the money supply was constant.

Back then, the only place that the government could get money was to borrow it from those who had saved their money, whereas today the poor old dollar is just a piece of fiat currency or computer-embedded digital crap that the Federal Reserve can create more of anytime it wants, whether or not anybody ever saves any! Hahaha!

So, if you think that the federal government needs your stupid tax money or that you can hurt them by working less, then I laugh – Hahahaha! – at the very concept! The Fed can, literally, create unlimited amounts of credit in the banks, which becomes unlimited amounts of money, with which to buy unlimited amounts of Treasury debt so that the government can spend unlimited more amounts of money than it collects in taxes!

And the only thing you can do about it, because the amount of corruption is always at its maximum at the end of long monetary booms, is to save yourself and get rich by buying gold, which is a bet against government and their stupidity, and which is the only sure-fire, can’t miss bet you will ever have in this cold, cruel world.

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