Atlas Shrugged

A friend sent me a news item from U.S. News and World Report which reported that Louisiana’s board of education is going to implement a new policy which requires all students to fill out a Free Application for Federal Student Aid in order to receive a high school diploma – LINK.

Think about that for a moment.  In order to receive a high diploma, the State of Louisiana is requiring that high school seniors fill out an application which would enable them to go into debt the moment they receive their diploma.

This is a mind-blowing event.  Most jobs available to high school grads do not require a college degree.  But some might require a high school diploma.  I have to wonder what the motive is behind this.  A significant portion of student debt is now being used for corporate-owned “universities” which are largely worthless to everyone except the entities who own the schools.  Goldman Sachs is a big player in this space.   Student debt, backed by the Taxpayer, is just another form of wealth transfer from the public to the banks and big corporations.


The amount of student debt issued and outstanding is now over $1.3 trillion. Obama pats himself on the back because student loan delinquency rates are falling a bit.  But this is because he has made it easier to defer payment – LINK.  While 11.5% – roughly $150 billion – is in delinquency, about 50% of this debt is in some form of grace period, deferment or forebearance.  Loans in deferment are not part of the delinquency rate calculation.  The true level of delinquency and technical default is probably somewhere in the 35-45% range.

I have to believe that the requirement being implemented in Louisiana is violating some part of the Constitution.  Of course, with the simple stroke of a pen, Obama can override the Constitution with yet another Executive Order upholding this requirement.

This requirement in Louisiana is exactly the type insane laws which were imposed by the Government as described in the narrative laid out in “Atlas Shrugged.”  Acts of mandate which enabled the Government and the corporate friends of the Government to suck wealth from the populace and from productive workers and redistribute the largesse amongst themselves.

We know how the story unfolds in “Atlas Shrugged.”  Unfortunately, I see the same type of story unfolding in the United States.

If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered…I believe that banking institutions are more dangerous to our liberties than standing armies… The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.  – Thomas Jefferson

15 thoughts on “Atlas Shrugged

  1. Use the fiat price model with the bullion based settlement. The market will then govern with much greater power. We need some yang with the existing Yin (debt)

    It’s not complicated. It just a change of habit because it’s bottom-up by its participation.

  2. This is also unconstitutional, as most graduates are 18, and FAFSA requires detailed disclosure of PARENT’s financials at risk of perjury/false financial statement penalties. To make it worse, the kid is supposed to complete FAFSA. I have sent 7 kids to college and they have not had the knowledge base (or access to the parent info) needed to complete FAFSA. There is no financial responsibility between an 18 year old and the parents. It is voluntary. A government law that force feeds requirements on un-prepared form filers at the risk of penalty is not a legitimate law.

  3. Dave it´s exactly the same playbock as the real estate scam 2008.
    then it was real estate now it´s education and maybee also car loans.

  4. The nazis called executive orders Enabling Act in 1933. Just wonder why US citizens don’t use their constitutional right and put their guns to work.

  5. The more people in debt, the more the government can control the debtors. So far, it looks like a free ride, but student loans cannot be discharged in bankruptcy. The government will have lots of young people under its thumb – a generation of slaves.

    1. Debt as slavery. A diabolical way to rule the world without the physical whip. Quite sophisticated really, much better than medieval serfdom.

      The invisible collar and chain. You can even convince yourself you are sovereign with it snugly around your neck.

      Babylonian money magik.

  6. MIND CONTROL, at its finest….where is the conservative governor on this one, how about you BOBBY JINDAL…a VETO is in order….imho

  7. The criminal bankers used to wait until the H.S. grads got to
    college and then bombard them with credit card offers.
    These bastards are going to use every trick they can to keep
    this game going. These are truly criminals who invent this shit
    while doing blow and hitting the crack pipe.
    Happy holiday’s to all, 2016 should be just like 2015 except a
    little bit wilder.

  8. Wow.. excellent post Dave… good pick up on the LA plan. Merry Christmas to you and yours… thank you for keeping it real in a world where there is so much noise, BS, obfuscation, and just pure evil. JimH, aka 1 Kg Lunar Drago

  9. Dave, your comments are always on target and I appreciate the opportunity to read them. However, there are many false quotes running around the internet and at least a portion of the one you end with by Jefferson is bogus. Because Jefferson was a hard currency advocate and was also distrustful of bankers in general, it’s easy to believe he might have said this. Here is what can be found on Wikiquotes:

    “If the American people ever allow the banks to control the issuance of their currency (instead of Congress), first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children will wake up homeless on the continent their fathers occupied.

    “Attributed to Thomas Jefferson, letter to then Secretary of the Treasury, Albert Gallatin, 1802. The book Respectfully Quoted says this is “obviously spurious”, noting that the OED’s earliest citation for the word “deflation” is from 1920. The earliest known appearance of this quote is from 1935 (Testimony of Charles C. Mayer, Hearings Before the Committee on Banking and Currency, House of Representatives, Seventy-fourth Congress, First Session, on H.R. 5357, p. 799)”

  10. Since student loan debt is not dischargeable even in bankruptcy, this seems like a first step towards implementing a final system whereby every single student in the country is in debt as soon as they finish high school. This ensures high profits and enrollment for the diploma mill corporations; the Wall Street firms that will chop, securitize, and repackage these loans to be sold to pension plans and the like; and an infinite captive pool of slaves to whom the Fedgov can offer “loan forgiveness” in exchange for working for the government.

    Also, quick note, the first section of that quote by Jefferson is internet fakery. “Deflation” as a financial term didn’t enter the language until the 1920s.

  11. First, the TJ quote is “spurious”.

    Next, yes, the gov’t. wants to “take care of you.”
    “From each according to his ability, to each according to his need.” – Karl Marx

    “The education of all children, from the moment that they can get along without a mother’s care, shall be in state institutions.”- Karl Marx

    “The goal of socialism is communism.” – Vladimir Lenin

    “The problem with socialism is that eventually you run out of other people’s money [to spend].” – Margaret Thatcher

    “Democracy and socialism have nothing in common but one word, equality. But notice the difference: while democracy seeks equality in liberty, socialism seeks equality in restraint and servitude.” – Alexis de Tocqueville

    “It is one thing to have free immigration to jobs. It is another thing to have free immigration to welfare. And you cannot have both. If you have a welfare state, if you have a state in which every resident is promised a certain minimal level of income, or a minimum level of subsistence, regardless of whether he works or not, produces it or not. Then it really is an impossible thing.” – Milton Friedman.

    “The enduring lesson of the 20th century is that socialism is a failure, and free markets are a success. But the politicians keep advocating just a little more socialism.” – Milton Friedman
    “Cultural Marxism entails, among other things, that secularist aspect of left-wing statist ideology that seeks, within society, to supplant traditional values, norms and mores with postmodern moral relativism. Cultural Marxists endeavor to scrub America of her Judeo-Christian, constitutional-republican founding principles, and take, instead, a secular-statist Sharpie to our beloved U.S. Constitution.”

    “Who is John Galt?” We are John Galt.
    “Galt, a creator and inventor, symbolizes the idealistic power of the human mind — the antithesis of the stifling, government-controlled social structure depicted in the story. Asked who best embodies the spirit of John Galt in America today, Kaslow says there’s a little Galt in everyone who resists the forces of socialism.”

    “Government “help” to business is just as disastrous as government persecution… the only way a government can be of service to national prosperity is by keeping its hands off.” – Ayn Rand

    “We are fast approaching the stage of the ultimate inversion: the stage where the government is free to do anything it pleases, while the citizens may act only by permission; which is the stage of the darkest periods of human history, the stage of rule by brute force.” – Ayn Rand

    “If a society is to remain free, its government must be controlled.” – Ayn Rand

    “America’s abundance was not created by public sacrifices to the common good, but by the productive genius of free men who pursued their own personal interests and the making of their own private fortunes.” – Ayn Rand

    “Either we believe that the State exists to serve the individual or that the individual exists to serve the state.” – Ayn Rand

    “Socialism has been tried on every continent of the globe. In light of its results, it is time to question the motives of [its] advocates.” – Ayn Rand

    “Every government interference in the economy consists of giving an unearned benefit, extorted by force, to some men at the expense of others.” – Ayn Rand

    “The government was set to protect man from criminals – and the Constitution was written to protect man from the government.” – Ayn Rand

    “Socialism is the doctrine that man has no right to exist for his own sake, that his life and his work do not belong to him, but belong to society, that the only justification of his existence is his service to society, and that society may dispose of him in any way it pleases for the sake of whatever it deems to be its own tribal, collective good.” – Ayn Rand

    “Money is made—before it can be looted or mooched—made by the effort of every honest man, each to the extent of his ability. An honest man is one who knows that he can’t consume more than he has produced.”-Ayn Rand, Atlas Shrugged

    “When a society establishes criminals-by-right and looters-by-law, men who use force to seize the wealth of disarmed victims, then money becomes its creators’ avenger. Such looters believe it safe to rob defenseless men, once they’ve passed a law to disarm them. But their loot becomes the magnet for other looters, who get it from them as they got it. Then the race goes, not to the ablest at production, but to those most ruthless at brutality. When force is the standard, the murderer wins over the pickpocket. And then that society vanishes, in a spread of ruins and slaughter.” – Ayn Rand, Atlas Shrugged

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