By Germar Rudolf. The system is broken and can’t be fixed. It needs replacement. I wrote this paper in 2006 while in prison. It was inspired by a series of books I received from supporters who wanted to “enlighten” me about economic issues. It is based on my own reasoning, but very strongly influence by the works of Helmut Creutz, who is a professor for economics at Kassel University, Germany.
I have always worried about the dynamics of public and private debt, but only after reading Creutz’s book Das Geld Syndrom did all the pieces finally fall into place and made sense. The book is also available in English, although for some reason published by an Indian publisher only: The Money Syndrome. Towards a Market Economy Free from Crises, Hyderabad, India, 626 pages, 94 illustrations, GVM Krishna Publishing, 2009. I found out after my release why. I tried to get my paper published in the U.S., but I encountered nothing but ridicule and hostility. One publisher actually stated that there are no limits to economic growth. If we ever hit the physical limits of planet Earth, then we simply reach out for other planets and include them into the economy as well. That’s predatory capitalism, pure and simple. And it’s the primary threat to the world.
After having come to the conclusions laid out in the following paper, I wrote a letter to my wife in the U.S. explaining her the ineluctable dynamics we are caught in economically and warned her of an impending financial meltdown sure to come sooner or later: I strongly advised her to please regulate her finances in a way that would minimize the impact for us. She did not listen, and when the 2008 financial meltdown hit two years later, she was unprepared. She felt guilty about it later. “All the economic experts worldwide were clueless, but you called it from your prison cell,” she said. Well, yes, I did, thanks to Prof. Creutz. And it is plain to see that the 2008 crisis was only the beginning of what is yet to come. It’s going to get much worse. Mark my words.
