A armed populace will cause some tragic deaths. An unarmed populace will lead to the death of millions via government tyranny. Just ask the jews of Nazi Germany. However you can not get an answer from an oven.
The correct transliteration is "molon labe".
Literally translated: "having come, take".
"molon" is a 2nd aorist participle of "blosko" and "label" is the 2nd person singular present imperative of "lambano".