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January 18, 2009



I'm not sure Skidelsky does agree. From memory, he equivocates on the issue and recounts Keynes repudiating some of his earlier remarks.

Your point still stands, though.


Keynes view changed upon seeing Nazi anti-semitism at work; as did many other peoples'opinions.

More generally, Keynes earlier remaks about Jewish repulsiveness suggest an idea about persistently excluded social groups. In defiance of the majority, they develop marked behaviour patterns that the majority dislike. It would hold for say Spanish gypsies, Japanese eta, US negros and many local 'colonies' of Brits settled in a foreign land. However, any foreign attack upon these excluded groups makes the majority react by seeing them as 'our' gypsies, 'our' blacks, 'our' jews, even 'our' Brits.

MC Shalom

Chairman Ben S. Bernanke, We Are Opting Out of Credit.

All of Our Economic Problems Find They Root in the Existence of Credit.

Out of the $5,000,000,000,000 bail out money for the banks, that is $1,000 for every inhabitant of this planet, what is it exactly that WE, The People, got?

They Bail Out, We Opt Out

The Credit Free, Free Market Economy

Is Both Dynamic on the Short Run & Stable on the Long Run, The Only Available Short Run Solution.

I Propose, Hence, to Lead for You an Exit Out of Credit:

Let me outline for you my proposed strategy:

✔ Preserve Your Belongings.

✔ The Property Title: Opt Out of Credit.

✔ The Credit Free Money: The Dinar-Shekel AKA The DaSh, Symbol: - .

✔ Asset Transfer: The Right Grant Operation.

✔ A Specific Application of Employment Interest and Money.
[A Tract Intended For my Fellows Economists].

If Risk Free Interest Rates Are at 0.00% Doesn't That Mean That Credit is Worthless?

Since credit based currencies are managed by setting interest rates, on which all control has been lost, are they managed anymore?

We Need, Hence, Cancel All Interest Bearing Debt and Abolish Interest Bearing Credit.

In This Age of Turbulence The People Wants an Exit Out of Credit: An Adventure in a New World Economic Order.

The other option would be to wait till most of the productive assets of the economy get physically destroyed either by war or by rust.

It will be either awfully deadly or dramatically long.

A price none of us can afford to pay.

“The current crisis can be overcome only by developing a sense of common purpose. The alternative to a new international order is chaos.”

- Henry A. Kissinger

They Are Bailing Them Out, Let's Opt Out!

If You Don't Opt Out Now, Then When?

Let me provide you with a link to my press release for my open letter to you:

Chairman Ben S. Bernanke, Quantitative [Ooops! I Meant Credit] Easing Can't Work!

I am, Mr Chairman, Yours Sincerely,

Shalom P. Hamou AKA 'MC Shalom'
Chief Economist - Master Conductor
1 7 7 6 - Annuit Cœptis
Tel: +972 54 441-7640


Of course, he still had sex with them: "When he apparently had a quick, anonymous hook-up, he listed that sex partner generically: "16-year-old under Etna" and "Lift boy of Vauxhall" in 1911, for instance, and "Jew boy," in 1912."


D'oh: link got stripped out. http://www.moreintelligentlife.com/node/824 was what I was talking about.

bob mcmanus

I find this very interesting, and I probably should be more reticent about approaching this topic. For the record, I consider myself, as an amateur, a hardcore Abba Lerner/Hyman Minsky Post-Keynesian.


"euthanasia of the rentier class"? GT, ch24

Dangerous & scary to discuss, having much more to do with attitudes towards Finance as Cultural Artifact and the Enlightenment as a Universalism than Bergen-Belsen.

Some have described Keynesian as near Corporatism proto-Fascism. Never mind.


Skidleskly is pretty lenient on him - e.g. search semitism here


Bob B

"Some have described Keynesian as near Corporatism proto-Fascism. Never mind."

There is a thin connecting thread.

Keynes co-wrote a pamphlet for the Liberals in the 1929 election with the title of: "Can Lloyd George do it?", which advocated a public works programme to reduce unemployment in place of the standard policy prescription at the time of general wage cuts as well as cutting public spending to match the lower tax revenues in a recession so as to reduce the budget deficit.

Keynes visited Hamburg to give a lecture in January 1932 - DE Moggridge: Maynard Keynes (1992) p.539. On his return, he wrote in the New Statesman: "Germany today is in the grips of the most powerful deflation any nation has experienced . . "

In January 1933, after Hitler became Reich Chancellor in Germany, the National Socialist administration embarked on a public works programme to build autobahns, stadiums and public buildings to create jobs. In his study of the inter-war years, Kindleberger noted that this was successful in cutting unemployment which went down:

" . . from 6 million in October 1933 to 4.1 million a year later, 2.8 million in February 1935, 2.5 million in February 1936, and 1.2 million in February 1937." [The World in Depression 1929-1939 (Allen Lane, 1973) p.240]

In 1936, Lloyd George went on a visit to Germany to meet with Herr Hitler. On returning to Britain he wrote an article for the Daily Express of 17 November 1936 in which he said all sorts of amazingly nice things about Herr Hitler:

Note too this academic assessment of the motivation for National Socialism:

"The Nazi Party leaders were savvy enough to realise that pure racial anti-semitism would not set the party apart from the pack of racist, anti-semitic, and ultranationalist groups that abounded in post-1918 Germany. Instead, I would suggest, the Nazi success can be attributed largely to the economic proposals found in the party's programs, which in an uncanny fashion integrated elements of 18th and 19th century nationalist-etatist philosophy with Keynesian economics. Nationalist etatism is an ideology that rejects economic liberalism and promotes the right of the state to intervene in all spheres of life including the economy." [W Brustein: The Logic of Evil - The Social Origins of the Nazi Party 1925-33 (Yale UP, 1996), p.51]


I almost wish that people who are bad at understanding social justice were also bad at everything else. That way I wouldn't accidentally fall in love with them before I realize they are actually bigots.

This is like how I felt when I found out that Orson Scott Card suffers from severe homophobia. Doesn't really make me like Ender's Game any less. Still... it's unfortunate.

Bob B

"That way I wouldn't accidentally fall in love with them before I realize they are actually bigots."

Churchill is properly esteemed for his war time premiership although there are unresolved issues about the bombing strategy of RAF Bomber Command and over the way Dowding and Keith Park were treated after the Battle of Britain:

We tend to overlook that as a Conservative backbencher during the 1930s up to the start of the war, Churchill not only campaigned for rearmament and against appeasement, he also ran a noisy campaign against Stanley Baldwin's India Act 1935, which provided for limited internal self-government in India because he regarded that as damaging to the British Empire:

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And a lot of it reflects a switch from bank deposits to securities; foreigners “other investments” in the UK, http://www.watchgy.com/ mostly bank deposits, fell by £143.2bn in Q1. And of course there’s no guarantee such buying will continue.

Benson MacCuller

What you fellows are calling "bigotry" is actually a good thing. It's pro-Nature and pro-evolution for races to diverge (eventually into new subspecies and then species) rather than to merge. Racial feelings, whether aesthetic or intellectual or visceral, that help that divergence process are therefore good.

All the best,



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