F Dominicus Blog

A politically incorrect blog about matters of money, government, bureaucracy, freedom and sometimes something else.

The chances and risk for Lybia

Well it seems that Ghaddaffi was "gone".. That itself probably is good news. Now there will be some interims government. The people of Lybia now have chances hardly ever seen by countries like ours. The chances are gigantiv and the risks not less.

If they embrace sound money, no corruption, money as value and debt free government. They will strive without comparison

Unfortunatly for them it seems most of the interrims government were risen and "de"-educated in developed country. So I'm nearly sure that they will follow the developed countries. I do not think corruptoin will be fought very hard. I do not think they will not have a central bank nor "gold-money" they. The bureaucrats from the IMF, etc will come and suggest them they can not use gold as money.

If they will not embrace austrian economics they will be just another dictatorship this time under "green" authority.

If I'd live in Lybia I'd ask for the following: 1) civil rights 2) free markets and freedom of contracts 2) sound money based on gold or anything else of value 3) no acceptance for corruption 4) no debts allowed for the government

I'm afraid they will get 1) civil rights 2) Bureaucrats (probably too much in too short time, Argument we can not trust markets) 3) regulated markets and limits to freedom of contract (e.g not the freedom to accept anything but gold for payment 4) "democratic" parties 5) central bank and fractional reserve 7) fiat-money 8) tons of corrupton and "worthless" money

The chanced of the first are surely below 1% so I bet that Lybia will just get another France .... The bastard bureacrats from hell will do their best to start a new round of suppression, theft, black mailing etc. It's not that they will want freedom for everyone, but support of the population for their vermins