The Great Oops

oops - a natural exclamation of dismay or surprise at doing something awkward
― [OED 1933]

“Facts do not cease to exist because they are ignored.”
― Aldous Huxley

“Nothing in the world is more dangerous than sincere ignorance and conscientious stupidity.”
― Martin Luther King Jr.

“There is a cult of ignorance in the United States, and there has always been. The strain of anti-intellectualism has been a constant thread winding its way through our political and cultural life, nurtured by the false notion that democracy means that 'my ignorance is just as good as your knowledge.”
― Isaac Asimov


When Fed  Czar Yellen recently admitted that inflation and wages are a "mystery" because they are not rising as expected after decades of unparalleled monetary manipulation, anyone who still believes the Fed knows what it is doing should have broken out in a sweat.

However, ignorance is not a sin ... unless it is willful ... which in this case it is. Why? Because money is the oldest and remains the most important social medium by which individuals reliably communicate accurate information about themselves with one another in real time with real economic and political consequences. It is more important than the printing press, radio, TV or the internet. And this means money directly and powerfully influences virtually every facet of individual and communal action across the globe and across the generations.

It also means that when money is subverted into political propaganda by modern central banks, pervasive economic and political destruction is set in motion and spreads with no breaks to stop its descent into deviancy.

One of no less stature than Keynes himself said this about the hubris of those who believe they are wizards who can pull monetary levers behind the curtains to manage human action with confidence that they are collectively omniscient and understand the full consequences of their actions:

"Lenin is said to have declared that the best way to destroy the Capitalist System was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some. ... Lenin was certainly right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose."

Modern day politicians and central bankers have tinkered with and fallen prey to the demons of central planning and they are dragging the population of the world down to hell with them.

You owe it to your progeny [if not to yourself] to get educated ... and to act forcefully ... because you can no longer claim ignorance ... you have become aware of the greatest crime in world history [yes I mean that] ... for you have seen The Great Oops.