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| Jul 29, 2009 1:57 am |
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re: Causes of the World Financial Meltdown? |
James Booth
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How truly bizarre seems an argument that we must either have a Communist system, or instead, "tolerate" the "perfidy" (how very polite) of the likes of Goldman Sachs taking advantage of a "free" market, which of course is not free at all considering how much government regulation / deregulation / reregulation – in short, *manipulation* - is involved ...
Or my reading comprehension fails
... as if there were, or could be, no alternate possibility.
The very existence of a fiat currency, even if it were "legitimately" issued by a government, is manipulation of a worst kind – one which limits transactions among individual, otherwise free, men and women, to use of "legal tender" only.
Imperial currency, "coin of the realm" – a way to impose hidden taxes.
Sure, we are almost all of us guilty of gorging ourselves on debt, or abandoning dead men's values in exchange for an "end-of-the-world" orgy, but not without "guidance from above" – not without, for instance, repeal of Glass Steagall.
To blame the current global greatest of all economic depressions on The People is to admit ignorance, unless one is a shill of the central bank and its cronies.
The main reason "there was too much debt" resulted from ending the Gold Standard and creating a debt-based economy.
"You get what you pay for.
You get what you vote for.
You get what you deserve."
Easy to say if one still suffers any delusion there is wealth among The People with which to pay, or that they can challenge the obscene amounts "contributed" to campaign coffers by certain corporate entities; if one still thinks their act of voting actually elects anyone, with possible exception of local races; only in the act of trusting elected and appointed officials and other "office holders" to honour their contracts and do what is moral does anyone in the public "get what they deserve" for not calling the crooks to account and locking them away as the ordinary, or sometimes not-so-ordinary, criminals they are.
JB
Private Reply to James Booth (new win) |
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