11/08/2007

Rage against the central banking machine

Total Fed Credit was up last week by $3.8 billion, which seems like a lot of money to us proletariat working trash, but it is mere chump change to the American banking system, which can literally compound that money to infinity at their whim, thanks to the magic of insane levels of fractional-reserve banking and zero required reserves against new deposits or loans. In short, the banks are corrupt scum, just like always, and that is why history shows that all financial crises are always caused by the banks. [...] It is certainly NOT the business of government to "make sure that people who have more money help the people who have less money", but to make sure that people are given a fair shake by hewing strictly to the Constitution, and not being made poor in the first place by the damned stinking Federal Reserve allowing the banks to create excess money and credit, and thus creating the inflation in prices that make the poor poor!

~The Mogambo Guru (TMG)

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