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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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