Saturday, October 17, 2009

ESSENCE OF THE FINANCIAL CRISIS

For millennia, the STATE controlled the currency. Now, though, most of the currency is controlled by a few private individuals, the bankers. The fractional reserve system is set up that way. This is actually a devolution of civilization.

And it happened before: the French Ancient Regime let private individuals be in charge of taxation, the Fermiers Generaux ("General Farmers"). This led directly to the French revolution of 1789. I have developed this theme, and many related issues, on my sites.

Now, again, this has got to stop. Bankers cannot just create the currency, and lend it to their friends and themselves, with the connivance of the government, artificially boosting GDP, joining insult to injury, has is the case now. Enough is enough.

Now, of course, this is not all what is wrong with the economy. There is a global economic crisis due to globalization (a form of re-colonization), one caused by increasing energy and ecological problems, and one caused by insufficient technological and scientific progress, considering the piling up of problems, and one caused by the related dissemination of Weapons of Mass Destruction.

Patrice Ayme
http://patriceayme.wordpress.com/