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Comment Re:Government is a tool (Score 1) 243

Who creates money?

Government does. Notice that every major currency in the world is backed by a government or in the case of the Euro, a group of governments. You have to go pretty far down in scale before you find currencies that aren't government-backed, such as BitCoin or currencies in MMOs.

Wrong.

Look into Federal Reserve system. It is not Federal. It does not maintain a reserve. It is a consortium of privately owned and undisclosed banks.

https://duckduckgo.com/?q=how%20the%20federal%20reserve%20creates%20money

In modern, neo-Liberal economic societies Government borrows money from private, central banks. This money is called into creation as debt. The creation of the money is an act of the bank - an accounting phantom - entering new assets as black ink on their ledgers.

Government no more "creates money" under this scenario, that you do, by using a credit card.

If "governments" backed the money, they wouldn't declare "austerity" programs on their own constituency - but instead issue jubilee forgiveness, with full restoration of productive capacity, etc. Instead, the EU and US BOTH "bail out" creditor institutions, ceding all right to their own resources and productive capacity to ownership by the bank.

 

Comment Re:Government is a tool (Score 2) 243

Government is only a corporate tool. Corporations are the shadow actors created by the super-rich to give themselves vehicles for action that are both superior to the state, and state-sanctioned legitimacy in this superiority.

Hating the "Government" is like pig-iron hating the hammer and the forge - not the Blacksmith.

Comment Counter? (Score 1) 7

"By holding up modern China as an example of Communism, Smith expressly shows us that he is fucking propagandist scum inhabiting the more clever of propagandist echelons as the peon is then seemingly left with NO OPTIONS as to how they could potentially reorder or rethink their society."

http://www.moonofalabama.org/2014/04/open-thread-2014-10.html#c6a00d8341c640e53ef01a73dae40f4970d

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