The poor are pampered good-for-nothings Does this sound exaggerated?
Like in the Greek tragedies, Deus ex Machina is now the only way that the world can avoid a total economic collapse.
This would involve God being lowered down onto the world stage and miraculously saving the plot. But since this is a very unlikely solution most people will instead rely on governments and central banks to save us. But how can anyone possibly believe that totally incompetent and clueless politicians and central bankers could solve anything.
They created the problem in the first place and are therefore totally unsuitable to play the role of Deus. The main objective of governments is to stay in power and thus to buy votes. Therefore they are incapable of taking the right decisions. And the opposition, aspiring to power is even less suitable since they will lie through their teeth and promise the earth in order to be elected.
We know that there are exceptions like Ron Paul, but the voters will most probably find his medicine too strong to swallow. Unfortunately any sensible person who becomes a central banker loses all his senses and becomes a prisoner of the political system.
Let us return to the wise von Mises to look at the options available now: Whatever politicians, bankers, economists or others experts say, there is no solution to this crisis.
We have reached the end of the road and are now staring into the abyss. The credit manufacturing system that started in when the Fed was founded, began its terminal phase in when Nixon abolished gold backing of the dollar.
It has been clear to us for at least 20 years that the outcome was inevitable. It is now clear to us that the false prosperity that the world has experienced by printing unlimited amounts of money will very soon come to an end.
For almost years we have lived on a system based on debt. This has created a false prosperity as well as false values. For a great many people it is now totally natural to rely on the state for their needs rather than on themselves.
This situation is totally untenable. Since any additional money printing will only exacerbate the crisis and make the final collapse so much greater, the swiftest solution would be let the financial system implode now.
We need to reset the world to a level which is sustainable. The consequences of this implosion would be a collapse of the financial system and a reset of debt to zero.
Although this is unthinkable to any government or politician, it would be by far the quickest way to get the world back on its feet with no major debts, minimal government interference, and no central bank that can print money. It would be like a forest fire getting rid of all the dead wood.
Out of that would rise masses of green shoots in the form of strong unchequered growth. The transition will of course be traumatic and the current generation will experience enormous hardship. But not voluntarily abandoning the money printing now will just delay the inevitable and the consequences will be dramatically greater and affect many future generations.
Anyone who has followed my articles will know my view that governments worldwide are totally incapable of stopping the money printing. This is their only means of staying in power and buying votes. But not only that, this is the only method they know.
This has been their patent solution to all economic problems in the last decades. Not that this is new in history. But as far as I know it has never before been done by so many countries simultaneously to such an extent. The problem this time is that we are not talking about one currency or one country.
We have been used to measuring currencies and economies on a relative basis i.Improving the Efficiency of Bank Regulation 37 Capital and Liquidity 37 debt, equity, commodities and derivatives markets, central clearing and other operational functions; • The asset management and insurance industries, and retail and institutional investment The U.S.
banking system is the strongest in the world and is critical in.
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By Cassandra Fairbanks. During Wednesday’s Liberty Report, Ron Paul asserted that he believes there is “zero chance” that the chemical attack in Syria was conducted by Bashar al-Assad. Mar 23, · Ron Paul's Money Illusion (Sequel) As I promised to do here, I am posting a sequel to my original column: Ron Paul's Money Illusion.
I want to thank everyone who took the time to comment and criticize the views expressed there because it has led to me to sharpen my thinking on the matter. May 23, · Ron Paul talks about the World Bank, poverty and problems therein.
He hits another one out of the park. (audio is slightly low due to cable box) C-SPAN 5/22/ Used with permission under C-SPAN. Central Bank of Denver: Bank One: Chase: Central Bank of Denver goal is to help businesses become successful and give them the capital needed to expand their operation," said Ron Tilton, President of FirstBank.
Print, radio and out-of-home executions will follow in the coming weeks. Colorado's Largest Locally Owned Bank Announces. Ron Paul says the inability to produce wealth and the destruction of wealth in the E.U.
is a signal "this system is coming to an end. "Eventually you .