This is the extremest form of Nihilism: nothing (purposelessness) eternal!
European form of Buddhism: the energy of knowledge and of strength drives us to such a belief. It is the most scientific of all hypotheses. We deny final purposes. If existence had a final purpose it would have reached it.
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It should be understood that what is being aimed at, here, is a contradiction of Pantheism: for "everything perfect, divine, eternal," also leads to the belief in Eternal Recurrence. Question: has this pantheistic and affirmative attitude to all things also been made possible by morality? At bottom only the moral God has been overcome. Is there any sense in imagining a God "beyond good and evil"? Would Pantheism in this sense be possible? Do we withdraw the idea of purpose from the process, and affirm the process notwithstanding? This were so if, within that process, something were attained every moment—and always the same thing. Spinoza won an affirmative position of this sort, in the sense that every moment, according to him, has a logical necessity: and he triumphed by means of his fundamentally logical instinct over a like conformation of the world.
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But his case is exceptional. If every fundamental trait of character, which lies beneath every act, and which finds expression in every act, were recognised by the individual as his fundamental trait of character, this individual would be driven to regard every moment of his existence in general, triumphantly as good. It would simply be necessary for that fundamental trait of character to be felt in oneself as something good, valuable, and pleasurable.
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Now, in the case of those men and classes of men who were treated with violence and oppressed by their fellows, morality saved life from despair and from the leap into nonentity:. for impotence in relation to mankind and not in relation to Nature is what generates the most desperate bitterness towards existence. Morality treated the powerful, the violent, and the "masters" in general, as enemies against whom the common man must be protected—that is to say, emboldened, strengthened. Morality has therefore always taught the most profound hatred and contempt of the fundamental trait of character of all rulers—i.e., their Will to Power. To suppress, to deny, and to decompose this morality, would mean to regard this most thoroughly detested instinct with the reverse of the old feeling and valuation. If the sufferer and the oppressed man were to lose his belief in his right to contemn the Will to Power, his position would be desperate. This would be so if the trait above-mentioned were essential to life, in which case it would follow that even that will to morality was only a cloak to this "Will to Power," as are also even that hatred and contempt. The oppressed man would then perceive that he stands on the same platform with the oppressor, and that he has no individual privilege, nor any higher rank than the latter.
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On the contrary! There is nothing on earth which can have any value, if it have not a modicum of power—granted, of course, that life itself is the Will to Power. Morality protected the botched and bungled against Nihilism, in that it gave every one of them infinite worth, metaphysical worth, and classed them altogether in one order which did not correspond with that of worldly power and order of rank: it taught submission, humility, etc. Admitting that the belief in this morality be destroyed, the botched and the bungled would no longer have any comfort, and would perish.