Year of Surprises: Austrian Economics, Defying the WEF and CBDC Rejection

Year of Surprises: Austrian Economics, Defying the WEF and CBDC Rejection
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The following is a transcript of Topher’s editorial from Episode 73 of The Aussie Wire News discussing Austrian Economics, Defying the WEF and CBDC Rejection which aired on the 23rd of January 2024.

Topher: Hello and welcome to The Aussie Wire. This last week has been one of the most enjoyable in a very long time. Why? Because at last we’re beginning to see the effect of the pushback that began last year. I’m not saying that we’re winning yet, far from it. We still have an enormous amount of work ahead of us, and you can best believe there’s some twists and turns in this tale, and we will have to deal with those as we go. But there’s been three things in the last week that demonstrate to me that the times are a changing and for once it’s in a good way. 

As you know, because we covered it last week here on The Aussie Wire, the World Economic Forum has been holding its Davos conference. One of the invited speakers was none other than Javier Milei, the newly minted President of Argentina and a real life raving libertarian, which is why I like him so much, I confess. Now of course, he attracts lots of the black pill brigade from the freedom movement, who insist that he’s controlled opposition and that he only won because “they” let him and all that nonsense. So when it was announced that he was speaking at Davos, my inbox was full of people saying, “see, what did I tell you?” I told them to wait and see. And boy, was it worth waiting for. I’m tempted to play his entire speech just for this episode as a dedicated episode, because it’s just that good. But I won’t. Instead, let me play part of his opening and you can click here to watch the rest for yourself. 

Javier Milei’s speech: “The main leaders of the western world have abandoned the model of freedom for different versions of what we call collectivism. We’re here to tell you that collectivist experiments are never the solution to the problems that afflict the citizens of the world. Rather, they are the root cause. Do believe me, no one better place than us Argentines to testify to these two points. When we adopted the model of freedom back in 1860, in 35 years we became a leading world power. And when we embraced collectivism, over the course of the last 100 years, we saw how our citizens started to become systematically impoverished, and we dropped to spot number 140 globally. But before having the discussion, it would first be important for us to take a look at the data that demonstrate why free enterprise capitalism is not just the only possible system to end world poverty, but also that it’s the only morally desirable system to achieve this.”

Topher: He goes to absolute town, he schools them, and they had to sit and listen. Now Milei is an economist. He’s one of the world’s preeminent Austrian economists. No, he’s not from Austria. The Austrian school is a kind of economics, a pro freedom, pro capitalism kind. Now, capitalism, not to be confused with corporatism or cronyism, that’s an entirely different thing. Sadly, there’s not one country on earth that has truly embraced Austrian economics until Milei was elected president of Argentina and is now doing his best to do exactly that. Why? Well, because politicians are much more attracted to the Chicago school of economics, which is embodied by keynesian economics. That is the failed and failing economic model that is being used around most of the world and has brought us to the point of ever growing government tyranny and simultaneous failing government welfare. Austrian economists are not usually welcome at a place like Davos, but because of Milei’s credentials and now, especially with him as a sitting President, they can’t really refuse him. And he knows that. And so he took the opportunity and gave them both barrels. It was great to see, but it doesn’t stop there. 

We then saw the heritage foundation president, Dr. Kevin Roberts, give WEF an absolute slap. Putting them on notice that becoming a conservative president in the US now requires candidates to absolutely reject everything the WEF stands for. 

Dr. Kevin Robert’s speech: “The kind of person who will come into the next conservative administration is going to be governed by one principle, and that is destroying the grasp that political elites and unelected technocrats have over the average person. And if I may, I will be candid and say that the agenda that every single member of the administration needs to have is to compile a list of everything that’s ever been proposed at the World Economic Forum and object all of them, wholesale.”

Topher: Now, this is really interesting to me because it ties in to Saul Alinsky’s rules for radicals, where Alinsky breaks down the steps for radicals, as they called themselves, in the sixties, to bring about social change. I won’t rehash his book, but three of the key principles were to, personalise a problem, I. E. to tie it down to a specific person or group of people or organisation. And then once you’ve personalised it, to freeze them, I. E. to pin them down in their respective policy positions, such that they can’t change or manoeuvre. They have to defend where they are. And finally, once you’ve done that, you’ve personalised it and you’ve pinned them down and frozen them in place. Finally, you attack relentlessly. 

It is a brutal and ruthless formula and it works. And what the heritage president is doing here is putting the WEF on notice that the conservative movement in the US has essentially now made the WEF the Persona of the problem. They’ve personalised the problem onto the WEF and they’re pinning the WEF down on its policy positions and recommendations. And now the attacks are about to begin. And that these politicians will do it as part and parcel of trying to get elected. Being anti WEF is now one of the most basic criteria to being a viable conservative candidate in the US. That’s what the Heritage foundation president is saying, and he’s right. And it represents a huge step forward.

And finally, a third great thing this week was US presidential candidate Donald Trump outright rejecting CBDC’s. 

Donald Trump’s speech: “Protect Americans from government tyranny. As your president, I will never allow the creation of a central bank digital currency. New Hampshire, very smart people, very current. You know what they’re doing. Such a currency would give a federal government, our federal government, the absolute control over your money. They could take your money, you wouldn’t even know it was gone. This would be a dangerous threat to freedom, and I will stop it from coming.”

Topher: Trump is not the first Republican candidate to reject CBDCs, but he is the most significant because he’s not doing it as a point of difference. He’s doing it to fit in and to remove the point of difference from the others. And whilst that may sound like splitting hairs, there’s actually a world of difference in terms of what it represents. Donald Trump did not need to adopt this position in order to win the republican nomination. He’s set to romp it in regardless. Some of his opponents adopted an anti CBDC position as a point of difference and because they believed in it as well. I’m not saying they were being cynical, they believe in it, but they adopted it publicly as a point of difference to try and stand out away from Trump and maybe get some ground back. But Trump has such a huge lead, he didn’t need to address this issue at all. He didn’t need to take a position on CBDCs. So why did he? Because he recognizes that, at least within the likely republican primary voters, it’s not going to hurt him. In other words, being anti CBDC is so mainstream that it’s a position you can adopt as a matter of course, in order to fit in with everyone else. And doing so definitely won’t hurt you. 

So let’s put this together. In the last week, we’ve seen Austrian economics on the stage at the World Economic Forum. We’ve seen WEF being told point blank that a serious campaign to demonise the WEF is now underway, turning the methods of the radicals against them. And we’ve seen that rejecting CBDCs, which is, by the way, a WEF pet project, is now mainstream. Like I said at the start, we’re not winning yet. But this is significant. The pushback began last year and already early in this year, we’re beginning to see what that looks like in practice. Take heart and buy some popcorn. It is going to be a crazy year. But unlike the last few years, it won’t all be bad.

You can watch this episode of The Aussie Wire News here.

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