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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: philv who wrote (18518)	6/5/2003 4:14:40 PM
From: sea_urchin	Read Replies (2) \| Respond to of 82363

Phil > your economic model of dollars and debt ascribes no penalty or consequences to the accumulating debt. It's not my model, it's what it is. The money is created from the debt as a book-keeping entry. You are applying a moralistic or value judgement that debt is a bad thing. In fact, in the present system, debt is a virtue. I quote from the Gospel of the Federal Reserve: Blessed is he who borrows, even more than he who lends, for it is the hunger of the borrower which drives the system. For if there was no hunger and therefore no debt there would be no loan and thus no business. In turn, everyone would starve because it is business which is the cornerstone of our economic system called Capitalism. Thus, I say unto thee, "Go forth and borrow. Borrow till it hurts but borrow in the knowledge that you are a true son of Capitalism and it is on your borrowing that the prestige, power and wealth of the world's greatest nation rests." > The US dollar is the world's reserve currency, and as such must remain "sound". And who is to say it isn't?! Especially for what it's being used. Let's face it, what is it all about, anyway? As I see it --- consumption and keeping people busy. Things are made, things are sold, things are bought and things are thrown away. Then the cycle starts afresh. Everything is in abundance, especially people. So they made a game. They call it business. And this keeps us all occupied --- because there's nothing else. In fact, one might even think it's what we were born to do. > a declining currency is a declining standard of living as prices must eventually rise Yes, but a declining currency also means cheap exports which, in turn, means more income and more employment. Canada competes with SA and Russia as a prime exporter of primary, especially mineral, products. So, if the CAD is too high then Canada doesn't get the business. Involved in all this is also a social problem because if people are not employed they get unhappy and may start a socialist revolution. So, they have to be kept running on the treadmill, come what may. In fact, the system fails when they have too much time to think about and be busy with politics and run in the streets instead of on the treadmill. So, debt, besides being the power which drives the business machine is also the motivation which keeps the runners running.