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3 comments:
Yes, many church goers are hypocrites because they have not read or believed the Bible, including the Old Testament.
That said, Progressives are not just either to the extent they support, and they have and still do, government privileges for "the banks".
I sympathize with the dim view that Andrew takes of self-styled "progressives". Bill Mitchell often takes the p*ss out of that lot.
On the other hand, the whole question as to whether private banks ought to be creating / printing the bulk of the nation's money supply is very much in dispute in the economics profession. I.e. it's not a simple issue. Thus the simpletons and well intentioned do-gooders who make up much of the "progressive" community cannot be blamed for not having much of a clue on this issue.
Even the great Bill Mitchell is not entirely clear on this issue. He definitely opposed full reserve banking two or three years ago, but has since gone very quiet on that issue.
I don't believe in full reserve banking either; instead let everyone who wants them have inherently risk-free debit/checking accounts at the Central Bank itself and abolish all other privileges for the banks too. Accounts for individual citizens should be free up to a reasonable account limit since all citizens have an inherent right to use their Nation's fiat. All other private sector accounts should be charged negative interest to cover overhead, to discourage fiat hoarding and perhaps to finance a Citizen's Dividend.
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