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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (40174)	9/20/2008 6:34:04 PM
From: Metacomet	1 Recommendation Read Replies (1) \| Respond to of 218072

...the crisis is not a 'failure of capitalism'... Are you aware of any capitalist experiment where the players were not aggressively trying to bend all the rules to make even more money? That IS capitalism. To imagine a capitalistic system where everybody tries to play fair is some sort of Ayn Rand wetdream....

To: TobagoJack who wrote (40174)	9/20/2008 6:46:56 PM
From: pogohere	Respond to of 218072

"maybe someone should point out to them that the crisis is not a 'failure of capitalism' as they all seem to believe, but a failure of the fractionally reserved, and centrally planned, fiat money system?" All fiat is not the same. Today's is a failure. An Anglo-Dutch model failure. The Germans under the guidance of Hjalmar Schacht abandoned the Anglo-Dutch model in the 1930s and did quite well. (And yes, the die were cast and the monetary regime was not dispositive of the political outcome.) History is instructive on fiat regimes: Message 24716042