Journal zogger's Journal: The case for public run money 4
I've commented often on the need for a restructuring of the money supply and how it gets into circulation and who controls it, etc. Here are two related articles that have a similar-not exact, but similar- type viewpoint.
State/public Banks
Fix the economy by deleveraging from the crony revolving door wallstreet/DC 'government' casino "banking" system
Not perfect solutions but at least something to the alternative of the status quo we have now, which is apparently just continuation on crack and steroids of the disastrous policies of the shrub the lesser administration. There has been no "change" whatsoever, the same cabal of casino banking insiders are still looting the economy. And it isn't going to get better, it will continue to get worse because that is what they have been and are doing, looting and bankrupting the middle class and charging them a huge principle for the bribes and extortion demands along with a not even theoretically possible to be paid off interest payment for these "services"..
The first is a loophole for Article I Section 10 (Score:2)
The Bank of North Dakota has proven it can be done. I finally found the court case dealing with it- Green V Frazier effectively limited this bank to being more like the FED and less like a commercial bank.
I'm all for the North Dakota solution- it gives states the ability to create money without coining it or issuing letters of credit directly (the BND simply buys out percentage points on loans issued through retail banking institutions).
Not only that, it creates a very interesting form of a usury law- sinc
Re: (Score:1)
One hesitation towards this might be along the following lines: Presumably banks who practice this fractional reserve lending thingie, where they can create money out of thin air by only holding a fraction of the real money involved, are regulated by another entity, the govt., as to how precarious this fraction can get.
With govt. in the business of doing this, it seems to me that states like my state of Calif. would leave nothing in reserve but a bunch of (worthless) IOU's. I.e. I don't think govt. makes mo
blood sugar swings rambling... (Score:1)
...started haying today with zero notice from joe boss, usually takes me a full day prep work to start. Dang I hate when he springs this stuff on me...worked until full dark at 9 pm so I am a little spacey and shaky right now....it shows in the following ramble but it should be readable-enough...
Yes, they have to have a minimum reserve by various regulations. A lot of them don't now though because of loan defaults. They are dependent on loan payments in order to make more loans and to be able to give out ca
Re: (Score:2)
One hesitation towards this might be along the following lines: Presumably banks who practice this fractional reserve lending thingie, where they can create money out of thin air by only holding a fraction of the real money involved, are regulated by another entity, the govt., as to how precarious this fraction can get.
Presumably yes- of course, that presumption got us into trouble when they stopped.
With govt. in the business of doing this, it seems to me that states like my state o