Who Is The ‘Somebody’?

Untit2led“Who is the Somebody?

by Benjamin Tucker

“Somebody gets the surplus wealth that labor produces and does not consume. Who is the ‘Somebody?’ …The usurer is the Somebody, and the State is his protector. Usury is the serpent gnawing at labor’s vitals, and only liberty can detach and kill it. Give laborers their liberty, and they will keep their wealth. As for the Somebody, he, stripped of his power to steal, must either join their ranks or starve.”

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~ by rechelon on September 12, 2009.

One Response to “Who Is The ‘Somebody’?”

  1. Mr. Tucker is correct, but with some clarifications in order. I think we need to distinguish between the fraudulent systems of fractional reserve banking and of fiat money creation, and the perfectly legitimate practice of charging interest on loans of honestly accumulated capital. If I save a portion of my surplus wealth and, either directly or through and intermediary, loan it out at interest, then I am providing an honest service. I am allowing the productive use of my wealth while I forego the present enjoyment of it. I deserve to be paid for my services.

    On the other hand, the creation of unbacked money and the process of loaning out that fraudulent “capital” as if it were real surplus wealth is simply the old theft of counterfiting, just dressed up to look more respectible.

    An even more subtle — but just as unethical — variation of this crime is to create and inject money into an economy at a rate equal to the yearly increase in productivity caused by advances in technology. Labour produces more goods, more efficiently, but instead of the wages rising or prices dropping, both stay the same because of the increased money supply. All the surplus production goes to the bankers, and the laborer keeps the same standard of living, making it difficult to convince him that he has been robbed.

    Of course in the real world, the financial elite can never be satisfied while the workers keep ANY of their wealth.

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