European Tribune - Comments - LQD: Capitalism is Not Worth Saving

LQD: Capitalism is Not Worth Saving | 98 comments (98 topical, 0 editorial, 0 hidden)

Re: There is nothing wrong with... (none / 1)

But that requires breaking the grip of the financial system over the US Government. If we could institute an effective wealth tax we could easily solve the current system. Currently the big bankers have an almost absolute veto over anything they dislike. See NBBooks current diary.

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Sat May 16th, 2009 at 01:30:03 AM EST
[ Parent ]

Re: There is nothing wrong with... (none / 1)

Carping critics might note that abolishing fractional reserve banking would also require breaking the grip of the financial system over the US Government.

- Jake

If you only spend 20 minutes of the rest of your life on economics, go spend them here.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Sat May 16th, 2009 at 01:42:46 AM EST
[ Parent ]

Regulating tightly is not abolishing (none / 0)

Banking Act of 1933 ("Glass Steagal") did this.

Fractional Reserve banking introduces a fiduciary duty and calls to make bankers officers of the State. Because only the State, as the will of the People, should have the power of creating money and giving newly created money to whomever it pleases.

Patrice Ayme Patriceayme.com Patriceayme.wordpress.com http://tyranosopher.blogspot.com/

by Patrice Ayme on Sat May 16th, 2009 at 03:50:07 PM EST
[ Parent ]

LQD: Capitalism is Not Worth Saving | 98 comments (98 topical, 0 editorial, 0 hidden)

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