Otherwise, the big boys are just going to keep doing you like small farm animals with that good easing.
Then, next step, tell foreigners their paper holdings are not convertible into gold, only those of citizens held here. That will fuck with their heads.
Foreigners' runs on gold reserves had shut it down here and elsewhere, among other things, like wars.
Fractional reserve currencies need to be strictly limited. Even under a gold and silver standard, they never really were. It was a faux metallic regime ab initio.
Having a currency backed by nothing whatsoever is unsustainable. It will last only until the next revolution, which seems now to be coming.
If you had a general contractor build a house for you, and you asked about the quality of the sand foundation, what would you think if he said:
"If it weakens, we can always add more foundational quantitative easing (to the settling) as needed, but I'll have to later charge you for that, every time it happens, cause I have to charge for every easing and bail out"?
Even having a metal standard is meaningless under overly liberal fractional reserve currency policies, which they almost always have been.
Then, next step, tell foreigners their paper holdings are not convertible into gold, only those of citizens held here. That will fuck with their heads.
Foreigners' runs on gold reserves had shut it down here and elsewhere, among other things, like wars.
Fractional reserve currencies need to be strictly limited. Even under a gold and silver standard, they never really were. It was a faux metallic regime ab initio.
Having a currency backed by nothing whatsoever is unsustainable. It will last only until the next revolution, which seems now to be coming.
If you had a general contractor build a house for you, and you asked about the quality of the sand foundation, what would you think if he said:
"If it weakens, we can always add more foundational quantitative easing (to the settling) as needed, but I'll have to later charge you for that, every time it happens, cause I have to charge for every easing and bail out"?
Even having a metal standard is meaningless under overly liberal fractional reserve currency policies, which they almost always have been.
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