An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
Isn't it obvious who has the power? The banks and the most so-called creditworthy, the rich, since that's who the system, government-subsidized private credit creation, was designed or has evolved to favor?
“The few who understand the system will either be so interested in its profits or be so dependent upon its favours that there will be no opposition from that class, while on the other hand, the great body of people, mentally incapable of comprehending the tremendous advantage that capital derives from the system, will bear its burdens without complaint, and perhaps without even suspecting that the system is inimical to their interests.” The Rothschild brothers of London writing to associates in New York, 1863.I wonder where that leaves Progressives? Since they have little apparent interest in reforming the system except to regulate it - as if theft can be properly regulated?
Isn't it obvious who has the power? The banks and the most so-called creditworthy, the rich, since that's who the system, government-subsidized private credit creation, was designed or has evolved to favor?"Capitalism is the legitimate racket of the ruling class." — Al CaponeAl Capone on Capitalism
Since when does the definition of capitalism require government-subsidized private credit creation? Since always (in the US at least, maybe since the Tally Stick was abolished in the UK) since monetary sovereigns have neglected their inherent duty to provide accounting and transactions services for all citizens in their fiat? Leaving the citizens to the mercy of the private banks or else be limited to physical fiat?
"This American system of ours," he shouted, "call it Americanism, call it Capitalism, call it what you like, gives to each and every one of us a great opportunity if we only seize it with both hands and make the most of it." Al CaponeOnly the banks do the seizing on behalf of the most so-called creditworthy and it's all legal.
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