As soon as a crisis breaks out, within the given institutional framework, the same mistake will be made over and over again, on a larger and larger s… - Hans-Hermann Hoppe

The American model – democracy – must be regarded as a historical error, economically as well as morally. Democracy promotes shortsightedness, capital waste, irresponsibility, and moral relativism. It leads to permanent compulsory income and wealth redistribution and legal uncertainty. It is counterproductive. It promotes demagoguery and egalitarianism. It is aggressive and potentially totalitarian internally, vis-à-vis its own population, as well as externally. In sum, it leads to a dramatic growth of state power, as manifested by the amount of parasitically – by means of taxation and expropriation – appropriated government income and wealth in relation to the amount of productively – through market exchange – acquired private income and wealth, and by the range and invasiveness of state legislation. Democracy is doomed to collapse, just as Soviet communism was doomed to collapse.

Even a professed "revisionist" such as Ebeling cannot free himself entirely from orthodox-leftist historical myths when he appears to liken and classify as on a par the "evils" of Stalin and Hitler and the socioeconomic character of Soviet Russia and Nazi Germany. From 1929 to 1939, in peace time, Stalin and the Bolsheviks killed about 20 million Soviet citizens, for no predictable reason. Hitler and the National Socialists ruined the businesses and careers of hundreds of thousands of German citizens, but the number of people killed by them before the outbreak of the war was only a few hundred, most of them fellow Nazis and all of them for a predictable reason.

The monopolization of money and banking is the ultimate pillar on which the modern state rests. In fact, it is probably become the most cherished instrument for increasing state income. For nowhere else can the state make the connection between redistribution-expenditure and exploitation-return more directly, quickly, and securely than by monopolizing money and banking. And nowhere else are the state's schemes less clearly understood than here.