Saxo Bank CEO Warns of Collapse Into “Totalitarian” Society

080114saxoSaxo Bank CEO Lars Seier Christensen warns that excessive government regulation, overtaxation and a coming economic collapse are all setting the stage for a slide into an overtly “totalitarian” society. In a blog post entitled, What is the broader relevance of Ayn Rand for society?, Christensen adeptly describes how the predictions of the author, most famous for her 1957 dystopian classic Atlas Shrugged, are now coming to pass. The Saxo Bank CEO argues that free market capitalism and freedom in general is under constant attack by elites whose constant intrusions into the economy and people’s personal lives are predicated around the need to justify more centralization of power. “First, the politicians assign ever greater powers to themselves, as they manage to convince the citizens of the need for even more interference, although the problems are created by interference in the first place,” writes Christensen, citing the European Union as an example of how, “one mistake invariably leads to call for even more powers, leading to new mistakes.” The deliberate effort on the part of the political class to undermine and restrict freedom and free market capitalism prevents the system from working efficiently, “meaning that the underlying strength of human ingenuity and creativity is stopped from working and becomes increasingly powerless to pull us out of the morass we are in,” writes Christensen, adding that corporate fascism, or “business people using government favours in return for giving up their independence,” is another of Ayn Rand’s warnings that has come to pass. “In fact, the undemocratic, power-grabbing, emotional, populistic Washington that takes over in Atlas Shrugged is today most closely resembled by the EU and the Eurozone in the real world,” asserts Christensen, adding, “We may have to go through a much more severe economic collapse before change will be forced upon us. Unfortunately, that change may also be totalitarian in nature, of course. In fact, that is the more likely outcome in the short run.” More
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