Re: Call your Banker

Posted by Brent VZ on August 05, 2005 at 22:41:01 from (69.29.197.113):

In Reply to: Call your Banker posted by Nebraska Cowman on August 04, 2005 at 18:57:10:

Funny the way this thread has run.

The "problem with capitalism" is that we don"t have it.

Free market capitalism requires a free market for capital.

We aint got one of those. Instead we have debt instruments as legal tender loaned into existence at an interest rate fixed by providing as much credit as necessary at that rate to fix it.(Federal Reserve)

The problem isn"t really environmental regs, wage disparities, or any of that stuff.

The problem, the heart of the problem, is that there"s no mechanism whatsoever in the global monetary and trade system to keep us from running trade deficits so long as the government can keep selling bonds on the global market, and the politicians aint gonna stop selling bonds (which let them spend even more money than they tax) until the people demand it, or nobody wants to buy them.

The reason we"re having trouble exporting as much stuff as we import is that the difference is made up by US dollars, T-bills, stocks and bonds going overseas, the floating exchange rate international monetary system.

Fix that, and everything else fixes itself.

All it would take is a very simple bill that says the dollar does not have to be accepted in payment of debts, that you can in fact write a contract specifying any means of exchange you choose, and the government must live within its means, since they have nothing of value that doesn"t belong to we the people to borrow against.

No more legal tender, whole new world. All of a sudden trade is self balancing, only way to get those foreign goods is to send equal value back.

Then it doesn"t matter how cheap their labor is, or how atrocious their environmental situation. They"ve still gotta buy something from us in order to sell us their stuff.

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