Dear CIGAs,

In the final analysis it will be the permitting of financial crimes by market manipulators that history will label as the reason for the Greater Great Depression of 2011. Hedge Fund pooling, Naked Shorts and OTC derivative manufacturing all represent personal enterprise as opposed to free enterprise in a world of Authoritarian personal enterprise. Wars intended to reinvigorate the economy will be found, as we know, to be economic stimulants that fall totally on their face. Instead they will debase the currency of all entities involved, benefitting only Daddy Warbucks.

The final great profit made by Daddy Warbucks will be in gold before the FRGCR stabilizes gold at quite a high level, preventing the 1980 experience.

"Freedom, as people enjoyed it in the democratic countries of Western civilization in the years of the old liberalism's triumph, was not a product of constitutions, bills of rights, laws, and statutes. Those documents aimed only at safeguarding liberty and freedom, firmly established by the operation of the market economy, against encroachments on the part of officeholders. No government and no civil law can guarantee and bring about freedom otherwise than by supporting and defending the fundamental institutions of the market economy.

Government means always coercion and compulsion and is by necessity the opposite of liberty. Government is a guarantor of liberty and is compatible with liberty only if its range is adequately restricted to the preservation of economic freedom. Where there is no market economy, the best-intentioned provisions of constitutions and laws remain a dead letter."

- Ludwig von Mises, Human Action