Been thinkin' -- Dave Lewis
dharmajoint.blogspot.com
I took a few days off from blogging to think a bit.
The more I thought about Larry Summers' suggestion that emerging market nations should hand over their excess reserves to the IMF or other institution to manage to possibly insulate their politicians from the ultimate result of their acquisition of reserves the more I came to the view that the end game is near. The financial problems are too big to ignore for much longer.
It is one thing to forecast the end of a financial era and quite another to live through the process. I feel as if we sit on the edge of an intellectual event horizon, about to be pulled into a new universe, or more precisely a new understanding of the same universe-a revolution in thought.
I'll be spending the next few weeks taking a fresh look at the US, its relations with the world, and at the new proposals for running it, like Rubin's Hamilton Project.
In practical terms, that means that I should begin posting again tomorrow. The topic, financial centralization and Bob Rubin's Hamilton Project.
Is a Third Bank of the United States ( en.wikipedia.org ) in the cards?
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Andrew Jackson on the Bank of the United States
"... It is to be regretted that the rich and powerful too often bend the acts of government to their selfish purposes. Distinctions in society will always exist under every just government. Equality of talents, of education, or of wealth can not be produced by human institutions. In the full enjoyment of the gifts of Heaven and the fruits of superior industry, economy, and virtue, every man is equally entitled to protection by law; but when the laws undertake to add to these natural and just advantages artificial distinctions, to grant titles, gratuities, and exclusive privileges, to make the rich richer and the potent more powerful, the humble members of society the farmers, mechanics, and laborers who have neither the time nor the means of securing like favors to themselves, have a right to complain of the injustice of their Government. There are no necessary evils in government. Its evils exist only in its abuses. If it would confine itself to equal protection, and, as Heaven does its rains, shower its favors alike on the high and the low, the rich and the poor, it would be an unqualified blessing. In the act before me there seems to be a wide and unnecessary departure from these just principles..."
President Jackson on his veto of the Charter of the Second Bank of the United States ( let.rug.nl ) |
