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porca misèria

Credit Serfdom

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21:30 last night (Sunday), a very HPC-flavour program on credit/debt, MEWing into trouble (HPI as "privatising the welfare state" :o ), creative banking, etc. Available on Listen Again. Recommended!

Sorry, was too busy to post at the time, and now this morning I'm surprised not to see a thread about it.

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A good programme as far as it goes, but as usual in the MSM the discussion failed to address the fundamental question of the nature of our money supply.

When almost all of our means of exchange is borrowed from commercial banks, is it any wonder that we are credit serfs?

For a much more insightful analysis:

http://www.positivemoney.org.uk/

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A good programme as far as it goes, but as usual in the MSM the discussion failed to address the fundamental question of the nature of our money supply.

When almost all of our means of exchange is borrowed from commercial banks, is it any wonder that we are credit serfs?

For a much more insightful analysis:

http://www.positivemoney.org.uk/

We've got to work with what we've got. No serious political party or movement is suggesting the kind of reforms that would make discussing monetary reforms on that scale anything more than an intellectual exercise.

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We've got to work with what we've got. No serious political party or movement is suggesting the kind of reforms that would make discussing monetary reforms on that scale anything more than an intellectual exercise.

To me 'what we've got' includes our critical understanding of the current money system.

We've got to start somewhere, and the only option is to start from where we are now.

Don't all transformations start as 'an intellectual excercise'?

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To me 'what we've got' includes our critical understanding of the current money system.

We've got to start somewhere, and the only option is to start from where we are now.

Don't all transformations start as 'an intellectual excercise'?

They usually start from chaos. When we have monetary chaos - say a double portion of the 2008 derivatives and banking crisis - transformation may begin. Until then, governments will cling on to the status quo. I think someone needs to start preparing the intellectual bedrock, so good on you. Let's hope there are no Keynsians involved this time.

Edited by 50sQuiff

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  • 285 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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