Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Hate to say this, but the only "sane" financing structure is one where "Credit Institutions" such as  Banks do not create credit as a multiple of their Capital base (so-called "fractional reserve banking") but rather manage:
(a)the mutual guarantee of bilateral "peer to peer" credit aka "Time to Pay" on the one hand; and
(b)the bringing together of investors with investment in productive assets of all kinds, on the other.

The "Deficit-based" Money created by Credit Institutions is IMHO:
(a) by definition inflationary, of asset prices directly, and other prices indirectly; and
(b) directly responsible for driving the "Economic Growth" which is sending us all "to hell in a hand-basket".

That, I believe, is the Inconvenient Truth.

"The future is already here -- it's just not very evenly distributed" William Gibson

by ChrisCook (cojockathotmaildotcom) on Thu Nov 30th, 2006 at 01:48:22 PM EST
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