Forum Post: Rep. Pearce to Bernanke "They understand the creation of money out of thin air depreciates what they have"
Posted 11 years ago on Feb. 27, 2013, 10:19 p.m. EST by john32
(-272)
from Pittsburgh, PA
This content is user submitted and not an official statement
"...On Monday, the Dutch Council of State blessed that procedure and thus set an example for the rest of the Eurozone: when a bank is bailed out and nationalized, owners of its debt can lose their entire capital. The unwritten government guarantee on bank debt is off...."
"...A government finally drew the line on one of its big banks, instead of flailing about to justify why taxpayers had to bail out bondholders who’d benefitted from the yields that had compensated them for the risks. Why tolerate a situation where the capital “at risk” wasn’t at risk?..."
Read more: http://www.testosteronepit.com/home/2013/2/26/a-taxpayer-revolt-against-bank-bailouts-in-the-eurozone.html#ixzz2MBZmPKD3
They're a bunch of thieves and everything the obamacats promote grows borrowing - everything -and it's intended to grow borrowing, without it the Fed Reserve will cease to exist and the rich everywhere lose money. And I don't really like the way our economists try to pin inflation on any other cause.
When the amount of money in circulation increases with the amount of goods and services, neither inflation nor deflation will result.
When the amount of money increases to cover the losses of risky speculation by the major banks, and none of it is going into the productive economy then we have deflation in the productive sector.
Every recession/depression is acompanied by deflation in the productive sector. Without a medium of exchange - the economy is stifled. The recession/depression of 2008 began as the banks stopped extending loans in order to protect their capital base.
ALL of our money except coins initiates as a loan from a private bank. Even the 12 Federal Reserve Banks are privately owned, as their stock is sold EXCLUSIVELY to the member banks of their districts.
http://www.WebOfDebt.com