Arkanaut: Is anyone else annoyed at the British use of "pc" instead of the % sign?
Ricardo Klement: AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAARRRRGGGHHHHH!*sploosh*Now that my head exploded, fractional reserve banking is not some magical power to conjure forth money. It is a mathematical side-effect of lending out money and accepting deposits. If I lend Bob $20, and he buys a bottle of cheap whiskey from Jack, who then asks me to hang on to the cash for him because he doesn't have pockets, and then I lend that $20 to Bill, I just created money. And I am not a bank, and I am not regulated by the feds.
probesport: IMF? Unbelievable.
fireclown: Actually, that's kind of one of the suggestions of the Austrian School 'O Economics. If you want to spin up your libertarian friends, tell 'em you are in favor of "Fiat Currency"/
YixilTesiphon: DerAppie: Elegy: No fractional reserve banking? Good luck getting credit....Live within your means and you won't need credit.Right, but how do you start a business without credit?
slayer199: Ron Paul is not a libertarian, is not widely supported by libertarians.
Amos Quito: Sounds like a great idea... but[2.bp.blogspot.com image 578x522]Coming from the IMF???
Amos Quito: RanDomino: bunnerYeah, we can make earth bigger in a few years. You left out the "of earth" part. That was sort of the point. What do you suppose the probable time needed would be to, like, invent more money to pay that back with from, you know, earth?I cut that part because of the multiple lines. It doesn't matter. Point is, if the total worldwide debt is let's say a quadrillion dollars and total worldwide GDP is a hundred trillion dollars, it's not like everyone has to pony up a quadrillion dollars all at onceOne question: If THE WORLD owes a quadrillion dollars, to WHOM might we owe it?
slayer199: 1. Ron Paul is not a libertarian, is not widely supported by libertarians.2. Libertarianism is not the same as Randianism.
genepool lifeboat: probesport: IMF? Unbelievable.OH!
RanDomino: d23Ron Paul libertarians = Corporate Anarchists.An oxymoron. The internal structure of any corporation is fascism.
nmemkha: Does anyone know how we got into this mess?
Slaxl: flucto: jasonvatch: There is much to what you say. But, have you seen how the banks have done so much to for us?I am not defending the Fed, but handing the money supply to Congress doesn't seem like a net upgrade. That the IMF thinks this is a good plan is not really comforting.It does seem like we could jump out of the frying pan and into the fire. Part of me thinks 'better the devil you know is going to continue farking you over at every opportunity', rather than switch to a new method that gives control over to a body that will fark you over, you just don't know how badly yet.Or am I too cynical?
flucto: jasonvatch: There is much to what you say. But, have you seen how the banks have done so much to for us?I am not defending the Fed, but handing the money supply to Congress doesn't seem like a net upgrade. That the IMF thinks this is a good plan is not really comforting.
flucto: So wait, all we have to do is put Congress in charge of the money supply and everything will be wonderful and shiny? Have they MET our farking Congress?
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