News & Analysis
Should the Government Step In?
We're done folks. CNBC is reporting that there are now clients running out of the markets entirely because they do not believe their customer funds are safe. That's the end of it. The belief that there are more MF Globals has now taken hold. The thieves have pushed it too far and now we've got the start of a global liquidity run, and with good reason.− Market Ticker
Dominant Social Theme: By expanding the regulatory state, we can make things better.
Free-Market Analysis: One of the main emergent US dominant social themes is that the government and regulators must step in to clean up the market and make it safe for investors. The idea is that the larger modern marketplace is very necessary for the functioning of modern society and that one must "clean up fraud" so that people will "trust" the market again.
This meme is being enunciated aggressively all over the place lately, and we have done our best to point it out. It is based on a misapprehension and is placing good people into rhetorical boxes where they decry modern finance but turn to the US's penitentiary-industrial complex for solutions. Here's more from the article excerpted above:
The authorities both in the regulatory side and on the prosecutorial side have refused to put a stop to the thievery and now the risk factors have turned into realized risk. The market is done folks. You can be right but if you make your bet in the markets, are right, and then get screwed anyway when someone steals the money and nobody goes to jail there comes a time when people begin to understand that it can happen to them and will unless they depart the market.
We're there folks. Oh sure, there will be rallies and there will be selloffs. But there is no longer a market, there is no longer a thing to trade, and there is no longer a reason to believe that superior analysis will lead to profit or even safety. This isn't just about speculators - it is also about farmers, shippers, airlines, manufacturing concerns, everyone in business who has a need to hedge.
More than four years ago I said that the government had to step in and demand that both off-balance sheet games be ended permanently and in all forms and that all derivatives had to be put on an exchange, without exception, and that every dollar of underwater position had to be backed by an actual dollar of capital in real money, held and known to be safe. The regulators refused and now it appears that what was put up on a regulated exchange was effectively stolen.
The article basically predicts a catastrophic sell-off if the "crooks" aren't punished. But is that what's really wrong with the market? Will, say, sex come to a screeching halt if rapists aren't rounded up? Will eating cease to take place if the FDA is rendered defunct? Will people cease to sleep soundly if the US removes some (or even all) of its 900 military bases around the world? We tend to doubt it.
See, what this article does is conflate the current marketplace with the Invisible Hand. But they are not the same, not in any way. No, what may eventually come to a "sudden stop" is THIS market and THIS commerce. The same market and commerce that the Federal Reserve spent US$16 trillion propping up. The same market driven by central banking fiat funny money.
All modern markets, in fact, are phony because the money driving these markets is not free-market money but is monopoly-bank issued money. When you have a monopoly in money, you cannot have free markets or anything close to them. The US hasn't had free markets and free money since some time after the Civil War. Europe is in the same predicament.
The power elite that has seemingly planned the current crisis (and is losing control of it, in our view) is behind the current economic system. They are doing their best to fight the spreading enlightenment about the way the world works – an illumination created by what we call the Internet Reformation.
In order to fight the spread of this meme, the elites have embarked on an elaborate manipulation that mimics that of the early 20th century. The most recent tactic in our view involves the recent, spreading government protest calling for the arrest of "Wall Street" crooks.
In fact, Wall Street in its initial incarnation is a "middle man" that performs an intermediary function. What OWS and other current protest-movements are calling for can basically be summed up, at least partially, as middle-man prejudice. Is there "wrong" being done on Wall Street? Sure. But is that the REAL problem? Do the real "controllers" reside on Wall Street? Are we sure they do?
The problem, in our view, is that there is a small group of people, what we call an Anglosphere Power elite, that controls the creation of money in the world. These people work as a cabal, a kind of mafia, and hire others of their own religion and similar backgrounds to carry out their vastly ambitious schemes.
"Wall Street" is a creation of this modern mafia. Remove Wall Street entirely and it won't make any difference, unfortunately. Those who work on Wall Street or anywhere throughout the world are not responsible for the system; they are for the most part merely exploiting it as best they can.
Some of these people may be "crooks" in common parlance, perhaps "big crooks," but the larger issue is the system itself, which resembles in some sense, an empire during its most corrupt days. Does one "cure" an empire via law enforcement? Or is the problem a good deal more basic than that and involves systemic corruption at the core of society?
In fact, those who advocate "law enforcement" to cure the West's money problems are providing a "fix" that likely does not offer a realstic anodyne. The problem is not one that can be rectified by prison. It is not a case of a "few bad apples" or even many bad ones. It is the system ITSELF that is damaged. (Actually, it was likley built cold-bloodedly to provide the ruin we now struggle with.)
What's the REAL solution? Simple. The modern ruin afflicting the world could be done away with if monopoly central banking were ended and free banking (money competition) became the societal standard. Shut off the spigot of central banking and Wall Street deflates into its middle-man role. Corporations shrink. Standing armies are disbanded as too expenseive.
Money-from-nothing is the root of the modern dillemma. And more and more people know it. Central banking has never been under the scrutiny that it is now, not since it began to take over the modern global economy some 100 years ago. It is quite possible, as we have been predicting for years now, that central banking may fail entirely or undergo significant change as a result of a dawning comprehension, worldwide, of its destructiveness.
But the power elite that created central banking and supervised its expansion, isn't ready to surrender it precious money-from-nothing facility yet; or even to change its attributes by installing some sort of government-run gold standard (another ruse that has been used in the past). It is fighting back as hard as it can by apparently creating a whole series of controllable false flag protest movements and "leaders" like Julian Assange.
When it comes to attacks on Money Power itself, the Anglosophere elites have turned to an old playbook, one that last proved effective in the early 20th century. Then, as now, they pointed fingers at corrupt "banksters" and Wall Street in order to absolve the larger money system from blame. This sort of directed history actually allowed central banking to gain rather than lose power and authority, though it was central banking that had caused the Great Depression and subsequent recessions.
They are not that imaginative, this bunch. They apparently control money supplies around the world and this gives them appearance of infallibility; but if we can figure it out, anyone can. Here's a chart we published previously:
VIDEO: Parallels Between Early 20th Century and Present Are Scary
| Progressive Movement | Occupy Wall Street |
| • Trust Busting | • Breaking Up Big Banks & Big Corporations |
| • Wall Street regulation | • Re-regulating Wall Street |
| • Voting through referendum | • Direct Democracy |
| • Graduated Income Tax | • Making the Rich Pay their "Fair Share" |
Back in the early 20th century, the same sociopoliical paradigm seems to have been initiated in the US. The elites created a movement called "progressivism" and then drove through a large-scale shift in how American elections were held. By emphasizing direct democracy (today's buzzword as well) the country's larger destiny was placed in the hands of mercantilist enablers of the Anglosphere power elite.
To ensure that the larger central banking meme was not challenged, the power elite mounted a campaign to punish Wall Street and bankster crookery. The story that greedy Wall Street banksters had been responsible for the Depression took hold. In fact, history reveals that it was the New York Fed that was behind the 1929 Crash; these central bankers printed so much money they caused first a boom and then a bust.
The same thing has taken place today. It was low interest rates and high-volume money printing that caused the crash of 2008 and subsequent economic crisis. And now the same tactics are being repeated. The idea is to whip up a wave of populism that will drive Congress toward special hearings aimed at "banksters" and Wall Street generally.
This will have two effects. One, the finger of blame will be pointed at the enablers of Money Power rather than Money Power itself. Second, the entire illegitimate arsenal of modern American law enforcement will be brought to bear, including RICO and other unconstitutional laws and regulations.
What are the ramifications? Basically, the anger over the current system shall be turned in on itself. The painful construct of American authoritarianism shall be employed by those who are most angry at the system; they will utilize its tools of oppression to pursue those at whom they are aggrieved.
Conclusion: The article above reinforces the meme that putting top Wall Streeters in prison will "cure" the market and restart the current system. In truth, the modern money system is likely dead. It was killed deliberately by those powers-that-be that are trying to prop it up just long enough move the system to a one world government. They use the meme of crooked "banksters" and financiers to distract people from the West's deeper problems, and from their one-world goals. It's happened before.
Attribution updated on Nov. 26th.
l 
|
You must be a site member to submit suggested edits or post feedback. In addition to submitting edit suggestions and posting feedback, your Free Membership to The Daily Bell gives you access to our Member Zone where you will discover a plethora of other member benefits. Want to learn more? click here |
|||||
|
|
||||
 |
Posted by Dilence Sogwood on 11/29/11 02:20 PM
Bloomberg news today is runing a TOP story about how coal regulations may cost $13bn and thousands of jobs, but that they will generate $12bn of new economic activity and thousands of jobs/bureacrats. Clearly the editors have heard of the Broken Window Fallacy, yet they choose to push this to the TOP function today.
Reply from The Daily Bell
Hm-mm ... The more regulations there are, the more prosperous society is ...
 |
Posted by mds on 11/28/11 11:07 AM
@amanfromMars
KD is usually interesting, and usually right, so I'll keep following his blog. But he does have a priapistic urge to put everyone in lock-up, and a major superiority complex to boot.
The Judge's speech is powerful, and frighteningly true.
 |
Posted by Agent Weebley on 11/28/11 08:34 AM
Hi amanfromMars,
Absolutely incredible speech!
It makes me think the Power Elite is now allowing everyone to speak their mind . . . so they can solve "bad government" by instituting world government with Middle Earth managers in each country . . . enforcing the new truth. The ultimate co-opting of the truth movement.
I'm calling the crew right now.
Mordor, here we come!
Click to view link
 |
Posted by amanfromMars on 11/28/11 04:53 AM
Wow! Pow! ... ... .. Click to view link
One for the Daily Bell to host front and centre, DB? At least Karl Denninger didn't get it wrong with presenting that on is site, mds.
|
Posted by mds on 11/28/11 12:51 AM
To almighty Denninger, everyone except himself should be locked up. The financiers, the lawyers, the doctors, the politicians, everyone. Only He has true knowledge and moral purity. Disagree and you will surely feel His wrath. To Karl, even Ron Paul is a shameless sell-out, a fake. Really.
|
Posted by Agent Weebley on 11/27/11 08:22 PM
Click to view link
Sorry I took so long to get back to you, Ingo, but I was working (and have to get back at it now) then I had a ballroom dancing lesson with Lucy (lots of fun), then dinner (she is a good cook and conversationalist.)
Your comment, 11/27/11 02:37 AM, that explained your sentence:
"Having special knowledge about an isolated subject and using it to be adament about knowing the workings of the whole world works, is dangerous."
Was this:
"This has to do with the Heisenberg Principle (Dick Feynman's thinking)"
Heisenberg ]]] Click to view link
Are you a fan of JLAIP? I used to talk to John Lennon all the time, but I think I blew his virtual fuse or something. I am refused entry nowadays: "The website declined to show this webpage" is what I get when I go there.
JLAIP ]]] Click to view link
John Lennon used to throw me curveballs. You saying "Heisenberg" was like John Lennon saying something like "geotropism" as an answer to a question of mine.
Anyway, I don't want to pick a never ending fight with you, Ingo. I just want to have a decent argument with you about the premise of government, and their immoral monopoly on money; but you would like to modify and perfect it, based on the past. That is why want to speak to you. I want to learn through conversation, not be told using your special knowledge on an isolated subject.
For example: if you want to make micrometer measurements of what Henry George said, or John Locke from that odd TV show "Lost" and expand them to the present day, that is your business. But to foist people with your own petard by dusting your tracks with more words @ 4:59pm (below) will only make it more difficult for me to respond to your Heisenberg principle without Brownian's Motion In Words affecting the outcome, and hence, the source measurement being invalidated.
I will take what I said and what you said in an random format below, and lay it out in a format that adds to this thread, otherwise DB will have my guts for garters. You, on the other hand, have tenure here.
Anyway, hi ho, hi ho, it's off to work I go.
Click to view link
Oh.. and it may not be today, as I have 3 more reports to do. So, in keeping with this thread I exit . . . stage left . . . even
Click to view link
 |
Posted by Bischoff on 11/27/11 04:59 PM
"However, that is something totally different than having confidence in a paradigm (from the big bang to today or from A to Z) and stating it. If that paradigm "works" (stands up to reason and logic), it us "a truth"."
"Confidence? What's that . . . belief?" No, it is confidence in your own reasoning powers to evaluate and order facts. It is different from belief.
"That is from the big bang to today? What's up with that? Unless you can make an argument for your paradigm based on facts from the origin of the universe to logically connect today's occurrences, then you don't have a paradign that "works".
Belief, conviction. Sounds like a religion to me. If it doesn't fit your paradigm, it gets tossed?
"Belief, conviction. Sounds like a religion to me." The purpose of a religion is to provide moral guidance. To believe in, or to be convinced about the "correctness" of the moral teachings is not at all what I am talking about. Where did I mention "belief" and "conviction"... ???
If it doesn't fit your paradigm, it gets tossed? Yes, it does get tossed. There is no room in my paradigm for illogical ramblings.
|
Posted by nithsdale on 11/27/11 02:40 PM
Yes, some dutch descendants were on Jekyll Island, along with others who had new ideas. Spotlight called it a Rockefeller Scheme way back when. And the dutch still keep a hand in it all, even if they don't approve. The whole conspracy was named after a dutch hotel where meetings were held... The Bilderbergers! If you name a chairman of the ed Reserve who had the most influence, who comes to mind? Volker!!!!... Remember him? Obama even brought the old dutchman to the White House, although he gave him an office in the basement!
The dutch are very clever. They always listen in and reserve judgment. The dutch may be a small group but they have connections everywhere. especially in Eastern Europe and in Asia. Our "foreign born" Secretaries of State all have dutch connections, if you go back into their lives. State was a most important office since it involves trade. The first international "intelligence" was gathered for trade. The first newspapers were just conduits re shipping and what was aboard each vessel due and when it would make port. The first great fortunes in America were made by Captains of those ships, the most astute being Commodore Vanderbilt!
I do not understand your bias against the dutch since you live in a city founded by them, maintained by them and even archived by them in the New York Historical Society. You should attend their lectures! The Arkansas Boy, Clinton chose that august body to review his book with his daughter Chelsea as the interlocutor.
Reply from The Daily Bell
We are proponents of directed history and we do not believe the Dutch are the primary conspiracists. You argue there is no conspiracy and that the Dutch have been the primary movers and shakers behind the current manipulated marketplace. When we point out that Jekyll Island was not primarily a Dutch operation, you respond by saying "Dutch descendants were on" Jekyll Island and then bring up the Bilderbergers and Volcker. Big deal. Here are two more names: Greenspan and Bernanke. The Dutch have no lock on this thing. But others do ...
|
Posted by Danny B on 11/27/11 01:02 PM
A couple of observations on the question of GOV stepping in. Just a short recap.
Banks transfered their toxic paper to GOV. GOV is broke because of this. Investors have now deserted GOV because it is broke. GOV might wish to step in but, has little power.
From a historical point of view, GOV has already gone off the cliff. It is now in what is called the "Wiley E Coyote" moment. It might also be called the "Dexia moment". The short interval between the exit from terra firma and the insinuation of gravity. This time of transition can be very short and happen without warning.
Click to view link
Amanfrommars has pointed out that we can't very well expect tomorrow to be like yesterday. As everyone has noticed, things seem to be picking up speed. Here is a collection of graphs that point this out very clearly.
Click to view link
GOV has made some spectacular bad bets. This doesn't help it's credibility.
Click to view link
Japan is now crashing.
Click to view link
The various Western GOVs use about the same model as Japan. Why should GOV have any credibility?
The EU GOV has NO credibility. They act like they have time to formulate a solution. Given that the markets are calling the shots, the EU is delusional. They have NO time.
Look at a graph of bond yields. Then, imagine how long it would take to execute the required treaty changes.
GOV, in general has no credibility. GOV is doing it's best to accentuate this fact. There are Russian, Chinese and American warships adjacent to Iran and Syria.
GOV worldwide has cut away the nets on the aviaries where they raise the black swans.
China too has stepped on a land-mine. They moved 300 million self-sufficient peasants to the cities. They have had to build ghost cities to provide continuity of employment.
A slowdown is death. They now have liquidity problems and can't afford all of their energy an material imports without liquidating their reserves.
http://www.moneyweb.co.za/mw/view/mw/en/page503823?oid=556670&sn=2009+Detail
The Chinese black swans have taken flight and are looking for a wall to crash into.
So, the answer is no,,, GOV should not step in. They already stepped in to fix things up for their rich friends. Enough damage has been done.
Now it is a race to see which GOV collapses first.
Click to view link
Here is the first mention of a bank holiday that I've read.
Click to view link
Here is a list of the banks with the most exposure.
Click to view link
Bon Chance
|
Posted by Agent Weebley on 11/27/11 08:18 AM
But I am commenting on the thread. A mere morph of the current system is not the way we are going to cause peace to happen in this world.
And don't worry, I'll get to the point . . . eventually . . although I may have to go to Mars and back first. you know long winded meee!
You supply the 10 speed racer, and we supply the Tour De France.
Click to view link
|
Posted by Agent Weebley on 11/27/11 07:45 AM
It is just after 7 here in the Big Smoke. After a mere 5 hours sleep, I wipe the sleep from my eyes to find a sucessfully shared MSL mission launch blasting past a Phobos Grunt.
I had decided 7 was my lucky number, many moons ago, so it is rather fitting that I should put my rather large nose to the grindstone and now begin processing a test report for . . .
Click to view link
. . . that just turned 7 this year! I have a button they issued in cerebralation of that milestone. They host some rather AbFab Toronto Film Festival parties, don't ya know. Never had the time to shoulder my way in to dance with the stars, though . . . not very high on my list of priorities, I guess.
Anyway, gotta go.
Ingo, your wishy is my whatty? I'll be back in the future to talk about the ubercertainty of your big bang theory . . . or whatever that ballshillistic curve was that you entered into the chemical . . . or is it physical mixture, known as fully duplex communication . . . here at The Daily Bell. I can't wait to wipe the dust off my "physics" colloquiallisms. It'll be quite a challenge. I have already begun to digest the primer, but have not drilled down on the links contained therein.
Click to view link
Who is this Einstein guy?
Click to view link
Reply from The Daily Bell
How about commenting on the thread, Weeble ...
|
Posted by amanfromMars on 11/27/11 03:37 AM
"So, Ingo, are you now going to say I claim to go faster than the speed of light?" …. Posted by Agent Weebley on 11/26/11 11:25 PM
Hmmm? Hi AW, [good to see and hear and read that you are back in the saddle again. Those short sabbaticals (virtual catnaps in the great scheme of things) can be very invigorating] and Daily Bell ringers, who may include spooky intelligence visitors on phishing expeditions/deep throated metadatamining missions, for there is certainly revolutionary conceptual chatter alive and into kicking dumb asses into gear, here?
That faster than speed of light claim might be an alien technology with earthly applications being explored for AI Predominance and Absolute Power in Control of CyberSpace and ITs Virtualised Commands/Cyber Security Operations Centres …… and All with AI Virtual Machinery for a Relatively Anonymous Remote Vehicle Control, Cloaked in Stealth Layers of Increasing Simple Complexity the Deeper the Native Probing. …… for the safety which madness presents to the wonderfully sane and creative ….. The more unbelievable the facts of the reality presented, the more likelihood of the fiction being perfectly true as a future element to take the place in space of a failed meme, destined to be a memory for storage in a closed vault, and best forgotten in the past. The Future beckons with everything Brand Spanking New for those into sharing the Grand Magical Mystery Turing Art of Fine and Refined Quantum Leaping.
And how spooky is it that we should be on similar parallels but dealing with the subject matter from quite different areas of interest and passion …… Sweet Sticky SMART Obsession.
[blockquote]Faster than Light Travel ... ... Imagine it, and IT Delivers Virtually Live Picture Streams ….. Click to view link
Posted Sunday 27th November 2011 03:40 GMT
Hi. How very encouraging that Man has finally appeared to take account that
Mars is a novel and noble and easily nobbled Nobel and virulent environment with digital binary control protocols to master navigate/caress conscientiously. And as for hostiles, IT is a silent grave.
ESA are remarkably silent on Roscosmos and NASA funding successes for currency spending excesses on fiat engine regeneration with highly radioactive fuelled systems, although perhaps the Mini Cooper component is their sterling stealth pay lode.
Congratulations MSL ... ... The drinks are on us with an open bar whenever you arrive, spent and alive and ready to jive and rumble, rock and roll ... .. http://youtu.be/neoUi4poCXI
And Noordwijk would wish it be known that they would not endorse or encourage any of their sort of actions from the marital home, because of the insane risks inherent in space travel and celestial body exploration probing discoveries with curious tools.[/blockquote]
Daily Bell, You are hosting something in these little chats and coded threads, which is …. well, earth shattering doesn't do it and its IT Use, justice. Nor even ground-breaking, although I would ponder a moment, and wonder on admission of astounding and astonishingly astute.
|
Posted by Bischoff on 11/27/11 02:37 AM
"Having special knowledge about an isolated subject and using it to be adament about knowing the workings of the whole world works, is dangerous."
This has to do with the Heisenberg Principle (Dick Feynman's thinking)
|
Posted by Agent Weebley on 11/27/11 12:24 AM
Hey Danny and Ingo . . . my friend, Doctor Sternum, posted this just before I posted my little Weebley, Agent Weebley ditty.
Click to view link
Pretty freaky, eh?
|
Posted by Agent Weebley on 11/27/11 12:02 AM
Oh and that's Weebley, Agent Weebley. I am an Agent Of Peace.
|
Posted by Agent Weebley on 11/26/11 11:59 PM
Thanks, Danny B, that was a nice rendition. Would they be charged 3 times as much as Colm for the air they breathe, or would they have to calculate when they were in harmony differently than when singing solo under Ingo's universal paradigm?
Why would you mention a seer? Why genetics? Why am I now playing this . . .
Click to view link
I don't like the partitioning either. But manicuring indicates pride.
|
Posted by Danny B on 11/26/11 11:47 PM
Agent Weebly,,, coming right back at you,,, a capella.
Click to view link
I backpacked around Ireland. It was just too manicured and partitioned for me. I prefer Scotland. As a sidenote, I visited the highland seer. Swein Macdonald.
Click to view link
I asked him when the next big earthquake would take place in Los Angeles. Evidently, it was an off-day. Didn't happen on schedule. The old guys at the pub told me that his father was MUCH better than him at predictions. Makes you wonder about genetics.
|
Posted by Agent Weebley on 11/26/11 11:25 PM
Hi Ingo (ne) it seems, so I will howl at the moon. I now only have 6 reports left to do . . . all biggies. But I have stopped for the night now.
I just found what I consider to be an eccentric sentence you posted . . . but first, a little something for Danny B.
Click to view link
Danny . . . imagine Colm has to pay for each O2 molecule he breathes in while singing this tune . . . then pays a little more as he exhales CO2, since he improved things for plants during the day, but is costing farmers lost O2 while singing at night, which is when he normally sings for money.
He must pay to sing, as Ingo's "local assessor" does not like his music.
Now onto Ingo. This is the sentence that has been on my mind since you exited stage left (already.)
Click to view link
Posted by Bischoff on 11/18/11 01:15 AM
"Having special knowledge about an isolated subject and using it to be adament about knowing the workings of the whole world works, is dangerous."
I ask you, Ingo, what do you mean? Where did I say I knew how the whole world works? Where have I been adamant about anything except trying to find the truth? And to whom is it dangerous? You?
Anyway, I found it rather bizarre. Then you went on to say:
"However, that is something totally different than having confidence in a paradigm (from the big bang to today or from A to Z) and stating it. If that paradigm "works" (stands up to reason and logic), it us "a truth"."
Confidence? What's that . . . belief? From the big bang to today? What's up with that? Cue Klaatu:
Click to view link
So, Ingo, are you now going to say I claim to go faster than the speed of light?
And then you said this:
"All I am doing with Wiseman is testing my paradigm. So far he has made it very easy for me to stick to my conviction about its correctness."
Belief, conviction. Sounds like a religion to me. If it doesn't fit your paradigm, it gets tossed?
Anyway, I would love to have a fully duplex conversation with you Ingo, but you need to regard me as an equal first.
|
Posted by Bischoff on 11/26/11 11:20 PM
"I bought farmland, gold and guns. Now, I'm impoverished, so I'm safe."
... and I agree with you there.
|
Posted by Danny B on 11/26/11 10:28 PM
Bischoff, once again, we're in agreement. GOV sets policy. The markets set reality;
Click to view link
Various states can no longer access bond investors. Like a car with a bad alternator, they're rapidly running out of juice. Jim Rogers said that investment is dead,,, get into farming.
The problem with cash is that GOV will force people to buy GOV bonds. It worked quite well in Argentina. Their retirement accounts were converted to GOV bonds. There is only ONE safe position,,, poverty. GOV will leave you alone if you're impoverished.
Farmland has appreciated about equal to gold. Stock in arms manufacturer Sturm Ruger has appreciated at 4 times the rate of gold. I bought farmland, gold and guns. Now, I'm impoverished, so I'm safe.
Incidentally, I believe that the original gold confiscation act prohibited the hoarding of cash also.
@ Hoss, the U.S.S.R. failed because it was a command economy. I believe that Mises predicted it 35 years in advance.
|
|
