Showing posts from February 21, 2013

Clueless Bankers Know Nothing of Finance

Video Rebel's Blog
Either Or: Either We Cancel All Unpayable Debts Or We Dieby horse237Quackademic is a word coined to refer to academics and other professionals who sell their opinions and advice to the highest bidder with disastrous results for humanity. Let us begin with some reasonable questions for academic economists. What is a Depression like 1929-1939 and how did we get out of it? Depressions like that a period of time in which massive amounts of Unpayable Debts are canceled. This can take a long time during which there is much hardship. The demographer Borisov estimates that between 3 and 7 million Americans out of a population of 125 million died of starvation. Americans, Europeans and most people in the world have debt based currencies like the Federal Reserve Note. This means that checking account money can only be created when you or the government takes out a loan. If you pay the loan off or default on it, then the total of checking account money is decr…