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interesting that redwood doesn’t get to the heart of the problems with central banking The real reason the recent problems cannot be solved, despite the varying factions John Redwood does mention, is that banking is a government cartel, a monopoly. Ron Paul is another gold bug who also misses this central factor. Within the straight-jacket of accepted unquestioned dogma, John Redwood has some grasp of the real problems the gold bugs and others would generate. But the only way to break the problem, should you be prepared to carry the costs, is to allow banks to issue their own money and to allow people to choose banks with the policy stance/s customers favour (regulation then becomes a matter of monitoring fraud). The only way to hope for monetary probity is competition. This is, of course, why governments do everything possible to remove such competition, as demonstrated by the European monetary union. In free banking, one bank may offer you gold-based banking.This would mean lower risk and would end in you paying higher banking charges. Another bank could offer you money linked to a basket of goods, or to wage levels, or housing. Another bank could offer you a high reserve ratio, and thus lower risks and lower profits. Another could offer you a low reserve ratio, and attendant high profits with high risk. This process would give you much greater choice, and get interfering governments out of another part of public life where they operate to your grave disadvantage. No wonder no government is proposing such freedoms. They are making far too much money out of inflation taxes and exerting far too much power through their control of the presses. related material the web address for this article is |
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the deliberate intentions of sub-prime, the history of the current usa ‘depression’ This history includes:
There is another way you can see this, as no accidental breakdown but a deliberate attempt to “spread the wealth around”. Many of the people who could not afford the properties are now steadily being bailed out. There are pseudo-legal attempts to stop repossession etc. Bush, McCain and Greenspan all warned this was a disaster waiting to happen, and tried to stop it. The Democrats blocked changes. Obama is heavily enmeshed in Wall Street, with several of Wall Streeters in his administration. I am increasingly convinced that much of this mess has been at least semi-deliberately engineered. related material |
