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Govt Pyramid Scheme Under Threat?


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Govt Pyramid Scheme Under Threat?

"The government has declared a turf war over pyramid schemes," notes Libertarianz spokesman Andrew Bates, who says he trusts the government will be going all out to close down what he calls "the country's largest and least sustainable pyramid scheme: national superannuation."

"But of course that is not going to happen," he says. "Instead, in raising the penalties for other organisations involved with pyramid schemes the government is merely defending the market share of its own Ponzi scheme."

"Ironically, Ponzi schemers at least appeal to the self-interest of the participants - however irrationally - by persuasion and thereby implicitly treat them as sovereign over themselves," Bates continued. "However with national superannuation, the government simply claims sovereignty over us and takes our money for a scheme we all know to be bankrupt. It does so without regard for whether we want to 'invest' our money with it or not. Both schemers consider people to be stupid and rely on their being so. But at least the private schemers don't force a man to hand over his money."

"The government's role is to protect us from those who initiate force against us. This government, however, insists on initiating force against us, while claiming to protect us from ourselves." Bates said in concluding, "people who invest in such schemes voluntarily should learn their lessons the hard way and not be protected from mistakes by Nanny State backed up by Big Brother. We would be better off if Nanny left us alone and concentrated her efforts on seeing that police, justice and defence were looked after, as they are supposed to be."

ENDS

For more information, contact: Andrew Bates Libertarianz Spokesman Mobile: 021 EGOIST (09) 631 0034, organon@ihug.co.nz

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