fractional reserve banking parasitism (Score 1)

griffin is a brilliant writer & was a major inspiration for a paper I wrote on the subject. for those who would like to go deeper than the history.

"fractional reserve banking as economic parasitism"

endorsed by two phd economists. printed in nexus magazine, 60k world circulation. #1 top downloaded economics paper. used by economics teacher in australia as standard classroom material.

more info on request.

as for the book, for those saying that it is a conspiracy theory, who says? which part? it is true that history in retrospect often looks like a conspiracy.

as for those who ask, whats the point? well think about it this way. theres a lot of new online services that are experimenting with currency and microcurrency. consider Linden Labs & 2nd life. they have a fully functioning online/cyber economy with an exchange rate. what is the dynamics of that system? the paper considers that.

also, economics is a complex system. there is a new science of complex systems. cyberspace is a complex system. the web is a complex system. understanding one complex system will help us understand other complex systems. the economic system has many parallels to engineering fields also, such as electrical engineering. but because there is so far no science of "money engineering", few are aware of this connection.

many slashdot readers are interested in security, such as regarding viruses etcetera. the paper reveals that the banking and economic system can have worms, viruses, parasites, trojan horses, very much like cyberspace. in fact the security of our banking system may be very poor, and in dire need of improved engineering approaches to increase its security. it really needs the kind of first rate minds that build complex software systems.

the money system is in fact very much like a massive electrical or energy system. if you are concerned with cooling your cpu or optimizing its performance, imagine a machine that spans entire states, countries even. how can it be optimized? to what degree is it failing us? what are its design deficiencies?

consider the goethe quote. "none are more enslaved than those who falsely believe they are free"

some very interesting recent supporting material:

• The Shock Doctrine: Naomi Klein on the Rise of Disaster Capitalism
• Confessions of an Economic Hit Man: How the U.S. Uses Globalization to Cheat Poor Countries Out of Trillions
• John Perkins on "The Secret History of the American Empire: Economic Hit Men, Jackals, and the Truth about Global Corruption"
• Video, senator/pres candidate Dennis Kucinich at last years 2005 Monetary Reform Conference
• money as debt video by Grignon