moonbat1775

The Road to Economic Hell

Smarty,
It's good to see you posting again. Your sound thinking is a breath of fresh air.

Both parties should consider:

1. Good ideas do not have to be mandated by government.

2. Bad ideas should especially not be mandated by government.

Too bad politicians can't just be pure passive parasites who left the economy alone other than skim it. Instead they must also try to "help" it.

Pounding the drum, most social and economic evils can be traced to government backed money and banking cartels.

Great Depression Not Imminent, But Inevitable

Mr. President,

The free market system doesn't need you to save it. AT WORST, all it needs is for you to leave it alone. Which reminds me:

'Don't fight the Fed.'
I've heard this till I'm sick.
If that's the 'free market',
then I've never heard of it.
The Fed thinks it's our savior
when all it has are tricks.
Soon it will be shown:
what is what
and which is which;
Mr. Market is no dog
but the Fed is just a tick.

Great Depression Not Imminent, But Inevitable

Mr President,

What part of "government-backed money and banking cartel (GBMBC) sounds like the "free market"?

M. B. Moon

10 More Notes for the Current Crisis

Please excuse crummy looking link. I'm not a wiz at those things.

mises.org/Books/myster...

10 More Notes for the Current Crisis

"'Tis a very tangley subject to analyze. Difficult to say if any line of thought is heading the right direction. " Smarty

Thanks. It is hard for me to wrap my head around banking. At first the dishonesty of it appalled me, it was literally unbelievable. Then I thought about the justifications and that confused me for a while. <A href="mises.org/Books/myster...">The Mystery of Banking</A> did and is doing wonders.

10 More Notes for the Current Crisis

Smarty,
I will have to think about what you said. I assumed that with a massive, simultaneous default the foreclosure system would seize up. But now I have to think about what foreclosure and selling of the house would do to the money supply. My initial thoughts are that the sale of the foreclosed house will be a wash with regard to deflation since a FRB loan will likely be created to buy it.

Ouch, this case gives me a headache. But I will get back to you with new grooves in my brain I hope.

10 More Notes for the Current Crisis

Well, if deflation is such a bad thing that banks must start lending again then why would a DEFAULT on existing loans be bad? When fractional reserve loans are repaid, money is DESTROYED just as it is CREATED when FRB loans are made. This would not be theft. The theft occurs (by inflation) when the loans are MADE and spent. The thieves are the bankers and perhaps unknowingly the borrowers. Furthermore, seizing collateral and selling it benefits the banks, NOT the people who were cheated by the inflationary loan . (Yes, Smarty, people with cash can scoop up bargains but why should the bankers be rewarded with the auction proceeds?)

There is Biblical precedent for this in the Bible ala the Jubilee which was to occur every 49 years in Israel for the forgiveness of debts and the freeing of slaves.

If this would help prevent a depression, then let the bloody fractional reserve bankers be wiped out. Let their depositors be made whole by the FDIC.

Then, a NEW honest banking system, not like the one we have now.

Dear Fed: What Do You Have to Hide?

"Dear Fed: What Do You Have to Hide?"

The fact that it is one of the hugest monstrosities ever visited on mankind for transferring wealth to the banker class?

Who Benefits When the Fed Floods the System with Liquidity?

Ron Paul understands monetary policy. He will take us prudently and moderately to an honest monetary system. Please write him in this Nov. so he can't be ignored in 2012.