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"We used the oligarchic liberal model instead and gave it to Quian," said Olaf quietly. "We thought we were really clever. We thought that if we can eradicate the economic support structures necessary for war, war would be avoided by default."
"In real terms the opposite is true," said Natalia. "Large scale economic development is the only war-avoidance policy there is, because that development cannot proceed without the renaissance principles that give humanity its Spirit back and invariable disable oligarchism."
"So we did everything wrong," said Olaf. "Still, we did everything right according to the book, and things went fast. The global investment pool on Quian had been drained in three years and poured into the gambling casinos of the vulture funds that wrecked industry after industry. They took their assets ans scrapped the rest, and shut down production. Their own financial organizations did the wrecking-job themselves. We did the same on Earth. It took a bit longer on Earth, except they turned on the printing presses on Earth, at the end, to satisfy the speculative needs a little longer, that the system created, even while it was already bankrupt. They didn't have to do that on Quian. They didn't have time."
Zy interrupted and said that his collaborators on the planet had introduced the same new security instrument that had been pioneered on Earth with great success. But it was all a scam without backing of anything real, but it offered huge returns. When the physical economy is collapsing, the collateral vanishes and thereby the securities become valueless. People lost big time that way. They went into debt in order to keep going. The banks loved that. They sold people's debt to them as assets to other investors, but the debts could never be repaid in a collapsing economy. They soon discovered that the so-called debt-based assets were worthless too. Eventually the entire value system disintegrated. The entire financial system blew away, but with it the specter of war was brought back to the foreground. Before empires fall they bring out the sword in a lst attempt to save themselves."
"We are close to that on Earth," said Wendy, "and that includes collapsing cultural values."
Olaf nodded. "When liberalism rises cultural values vanish. It was a two edged sword that we unleashed on Quian," said Olaf. "Not only did this system bleed the productive economy dry, it also turned the looted funds into a battering ram for the destruction of the planet's most successful industries, even its necessary infrastructures, like farming." He turned to Wendy. "You must have seen some of that too. I hear that they now take vast tracts of farmland out of food production and grow corn for making ethanol as a motor fuel. The insanity is that it takes more energy to produce the ethanol than the ethanol gives back by burning it in cars. However, the process is highly efficient in destroying the food supply system on Earth. I take it that it is infinitely more difficult to defeat this trap that that the people on Earth have sprung on themselves than it was for the two children in your home to refuse the diamonds you had brought them. They gave the diamonds back, because they recognized that it wasn't right to keep them. They probably felt that it was a kind to stealing to ask money for them. Making ethanol is stealing the food from people's dinner table, but everybody loves the ethanol scam. They believe the lies that it is a pollution free alternate fuel. That's how it was on Quian. Everybody bought into the lies that the scams promoted, even though they were beginning to see the lies. In response they simply closed their eyes. Stealing from one-another to get rich was the glorious way to live. That was the watchword. The most successful thieves, who had the greatest wealth amassed, were celebrated by society as heroes and paraded in public as role models to be emulated."
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