Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Hawkmoon who wrote (106781)	1/19/2010 1:25:45 AM
From: Skeeter Bug	1 Recommendation Read Replies (1) of 116555

>>We have to analyze the importance of US banks along the following lines.<< they are little more than debt machines. we have to cut out their gravy train and dislocate debt from money. we have to exorcise debt from money. money as debt benefits bankers. government issued and controlled money should benefit the people. >>Are they contributing to the economic prosperity of the US,<< not over the long term, no. they are blood suckers who think they are doing god's work as they suck america dry. >>or are they taking advantage of favorable taxpayer-backed debt to generate their profits.<< what profits? until they mark to market, all their profits are a lie. how about we ask them kindly to stop committing what would be felony securities fraud at any other time in our history? >>Until I see banks actually making profits from private lending, rather than taking cheap Federal Reserve money and "investing" in taxpayer backed debt, I think we have every right to limit their extraordinary bonuses.<< money needs to be wrestled from private bankers and brought back into congress' hands. i'm no fan of congress, but that is a better option than allowing private bankers to control the nation's money. >>Of course, there's the caveat that the US Treasury/Congress has a major onus to take those borrowed funds and EFFECTIVELY invest them to promote private sector growth and productivity.<< that's another way of saying "increasing debt" because money is debt. we need to decouple money from debt or we are doomed to continue repeating the same old crap over and over until the banksters own everything except the debt owed by the people. youtube.com

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