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Responses To: "It's the Fed and Fractional Reserve Banking"


Subject: "It's the Fed and Fractional Reserve Banking" created on 08/04/07 by guest
I think the free trade issue is a side issue... It's the Fed and central bank that is the bane of America's existence. Americans naturally find an outlet for all of their inflationary funny money in the purchase of foreign goods and services, often on credit. Yeah, we're going down hill. But blaming free and liberal access to foreign markets is just a post hoc fallacy in my humble opinion.

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guest says "I agree with you, but what is the solution???" on 08/04/07
Equal price regimes. I am an unemployed economist with over $70,000 in student debt and no prospects for employment. Boy, was a dumb to go to college.


guest says "Continued!!!" on 08/04/07
Especially by being tricked by banks to take out student loans. Now I will never be able to repay them back. I am a financial slave forever. I hope you don't have to stand in my shoes.

Good Luck and Good Night.


guest says "Debt" on 08/22/07
I am a debt slave too, but only to the tune of 20k. Read Proverbs. The borrower is a slave to the lender.


guest says "Inflation" on 08/24/07
Banks violate the basic principles of property rights by creating multiple titles to the same property, and then loaning them out. This is the fundamental cause of recurring economic crises. The government grants them this legal privilege because government is their largest customer, always in need of loans to pursue welfare and warfare while reluctant to raise unpopular taxes. Central banks coordinate the inflation between otherwise competing banks, massively multiplying the scope of the inflation/recession cycle. Inflation falsifies economic calculation generating industry-destroying trade deficits whereby we Americans, the inheritors of the massive productive capital accumulated by our ancestors watch powerless as it rusts, out-produced by rural laborers in China. Gold and silver, the gradually yet spontaneously selected for use as a medium of exchange by the free market, and enshrined in the long-forgotten Constitution of the United States, provides the sound money required for economic calculation. Sound money belongs in the same class as bills of rights.

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