via Conservative Review:
by Dan Bongino | March 14, 2016
… Let’s pretend you are a socialist in training and you are looking to take over the economy, using government force and bureaucratic expansion as your weapons of choice. How would you do it if you wanted to conceal your intentions? Well, it’s already being done and here’s how.
The first step in the economic takeover is to use taxpayer money, or taxpayer subsidies, to reward your crony friends through purchasing interests in PRIVATELY held businesses. How is this happening you ask? The European Central Bank recently followed Japan’s poor example and decided to expand its asset portfolio by purchasing corporate bonds. Take a moment to think about this. The European Central Bank is using its Euro-Zone monopoly power over money to buy stakes in non-government assets? How do they decide which businesses get to take part in this central bank largesse?
The opportunities for corruption and influence peddling here are myriad as government interference in the private economy typically ends poorly. They don’t call Japan’s decade of economic troubles the “lost decade” because it was a time marked by booming economic growth. Whenever government tries to pick economic winners and losers, it usually picks the losers, while the political winners continue to get re-elected because their campaign coffers are filled with business lobbyists eager to get their snouts in the tax-payer-funded trough.
The second step, after you have used taxpayer money to buy off private businesses, is to ensure that you can tax the private economy at confiscatory rates and use the taxpayers’ money to buy off more businesses and more votes. Also, you must ensure that there are no exit ramps to avoid this taxation. How is this happening you ask? It’s happening through two mechanisms. The first mechanism is the move towards negative interest rates. (Read More)
Read the full article on Conservative Review