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Dalsuh
Penny Hoarding Member
USA
757 Posts |
 Posted - 10/10/2009 : 02:58:01
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I read this on webofdebt.com
# Contrary to popular belief, creeping inflation is not caused by the government irresponsibly printing dollars. It is caused by banks expanding the money supply with loans. (Chapter 10)
# Most of the runaway inflation seen in "banana republics" has been caused, not by national governments over-printing money, but by global institutional speculators attacking local currencies and devaluing them on international markets. (Chapter 25)
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Nickelless
Administrator
USA
5580 Posts |
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Dalsuh
Penny Hoarding Member
USA
757 Posts |
Posted - 10/10/2009 : 03:28:52
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quote:
Originally posted by Nickelless
Interesting tidbit, Dalsuh. I'm going to need a little while to wrap my brain around this, but I think I see what this is saying--the money being circulated isn't as much a product of the central bank as it is available credit based on the fractional reserve system.
Is that the way the rest of you are reading this?
I think it's saying that we tend to (including myself) get caught up the news and start blaming the puppets instead of the puppetmasters. The puppetmasters being the central banks.
I'm definitely ordering this book, awesome read from the excerpts available online. |
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Nickelless
Administrator
USA
5580 Posts |
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Bluegill
1000+ Penny Miser Member
USA
1964 Posts |
Posted - 10/10/2009 : 07:35:52
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Save your money my friend and avoid that book. Use that money to get yourself a copy of the "The Creature from Jekyll Island" instead.
The authors understanding of the gold standard is flawed at best. She ultimately believes the power to print money should be taken from the Federal reserve and given to Congress. She is actually a Keynesian and believes in fiat currency. Just that the Government should control the fiat and not a private bank.
The author is a hack Lawyer from L.A. Not an economist.
Instead, read the works of G. Edward Griffin.
Ron Paul.
Tom Woods.
The Mises Institute.
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Edited by - Bluegill on 10/10/2009 07:54:27 |
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Dalsuh
Penny Hoarding Member
USA
757 Posts |
Posted - 10/10/2009 : 15:45:06
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quote:
Originally posted by Bluegill
Save your money my friend and avoid that book. Use that money to get yourself a copy of the "The Creature from Jekyll Island" instead.
The authors understanding of the gold standard is flawed at best. She ultimately believes the power to print money should be taken from the Federal reserve and given to Congress. She is actually a Keynesian and believes in fiat currency. Just that the Government should control the fiat and not a private bank.
The author is a hack Lawyer from L.A. Not an economist.
Instead, read the works of G. Edward Griffin.
Ron Paul.
Tom Woods.
The Mises Institute.
Your right, I'll save my money. Probably find a copy at the library anyhow.
I found the site from a David Morgan interview on goldforum.
I have not read the whole book but from what I read on her website so far...she doesn't seem like a Keynesian.
It's hard to judge w/o reading the whole book I guess, but what really fascinated me was the allegory of "The Wizard of Oz" and the financial situation at the time.
Yes your right, we have plenty of hacks and shoemakers out here in L.A. 
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Copper Catcher
Administrator
USA
2092 Posts |
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Bluegill
1000+ Penny Miser Member
USA
1964 Posts |
Posted - 10/11/2009 : 14:12:38
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The lecture is definitely worth listing to. I posted it here about a year ago and didn't get many views. However, one should still buy and read the book. He goes into a whole lot more detail and lists his references.
I have the 4th edition I bought almost 2 years ago, a local borders actually had it on the shelf.
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web of debt
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