Alan がリツイート
Central Bankers they don’t serve capitalism. They serve their own interests.
If capitalism were their aim, we would have built stronger industries, deeper productive capacity, and a broader class of owners, makers, engineers, farmers, builders and manufacturers.
Instead, the system was selected for deindustrialisation. It rewarded financial extraction over production, asset inflation over wages, imports over national capability, and dependence over sovereignty.
In the 17th century, a serf might work three days for the manor house. Today, many workers spend a similar portion of their lives working for the bank.
The name and firm have changed, but the system is familiar. The modern worker is chained to his shelter by debt, rent, mortgages, fees, inflation and financial claims created by institutions that contribute little to the real economy.
In a systemic sense, they are patristic; sure, they provide capital, though in this cycle, they provided capital to financialise the systems indentured workers.
The banks don't support the economy. Too often, they sit above it. They create credit, expand asset prices, collect interest, and then claim they are the indispensable engine of prosperity.
But when finance grows too large, it stops funding production and starts feeding on it. We stopped funding production decades ago.
Which is the cycle? Every time banks and financial interests overstep, they become too greedy. Every time they become too greedy, they distort the economy. Every time they distort the economy, the political class eventually protects them instead of the public. Then the technocratic class arrives to justify the arrangement with complicated language, models, forecasts and moral lectures.
But the outcome is fewer real industries, fewer independent producers, fewer competitive markets, and more dependence on a narrow class of financial and technological gatekeepers.
Hamilton understood the importance of productive industry. Eisenhower warned against concentrated power and the military-industrial machine. Robert Menzies understood that national strength required more than consumption and financial speculation.
Leaders of the past, whatever their flaws, often understood something many modern leaders have forgotten: liberty is not built on debt, dependence and imports. Freedom rests on the ability of a people to make things, defend themselves, feed themselves, power themselves and not be permanently beholden to foreign suppliers or domestic financiers.
A nation that cannot produce is not truly sovereign. A nation that cannot manufacture becomes strategically weak. A nation that sells off its productive base and calls the result “efficiency” is not modernising, it is dismantling its own state.
When production and finance fall out of balance, rivalry becomes inevitable. Nations that lose their industrial base become insecure. Nations that dominate supply chains become aggressive. Financial elites profit from instability, while ordinary people pay the price through inflation, unemployment, debt and war.
Central banks and financial institutions may not print ammunition directly, but they create the conditions that make conflict more likely. They inflate assets, punish workers, reward speculation, and push nations into dependency. Then, when the imbalance becomes dangerous, the same class that caused the instability presents itself as the only class capable of managing it.
Real capitalism requires competition, productive investment, broad ownership, failure for the incompetent, reward for the capable, and markets that are not permanently rigged in favour of insiders. But most of the modern economy is not that. It is dominated by duopolies, monopolies, cartels, too-big-to-fail banks, captured regulators, and technology platforms that behave more like private governments than companies.
Capitalism exists as an ideal, and at certain points in the economic cycle, it briefly appears. But it rarely remains pure for long. Power concentrates. Finance captures politics. Corporations eliminate competitors. Banks socialise losses and privatise gains. The productive economy gets hollowed out while everyone is told this is progress.
A free society cannot survive on financial engineering, imported goods, inflated property values and digital monopolies. It needs productive strength. It needs industry. It needs skilled workers. It needs competition. It needs national independence. Above all, it needs a system where money serves the real economy, not the other way around.
Once finance becomes the master rather than the servant, liberty begins to disappear. And once a nation forgets how to make things, it eventually forgets how to defend itself.
English
