Anonymous Coward writes:
"http://www.theguardian.com/commentisfree/2014/mar/ 18/truth-money-iou-bank-of-england-austerity
Back in the 1930s, Henry Ford is supposed to have remarked that it was a good thing that most Americans didn't know how banking really works, because if they did, 'there'd be a revolution before tomorrow morning.'
Last week, something remarkable happened. The Bank of England let the cat out of the bag. In a paper called "Money Creation in the Modern Economy", co-authored by three economists from the Bank's Monetary Analysis Directorate, they stated outright that most common assumptions of how banking works are simply wrong, and that the kind of populist, heterodox positions more ordinarily associated with groups such as Occupy Wall Street are correct. In doing so, they have effectively thrown the entire theoretical basis for austerity out of the window."
(Score: 2) by Boxzy on Tuesday March 25 2014, @04:08AM
Wow, what an amazing argument. I give in. The American economy relys on its brutal ownership of the oil industry to keep afloat. while the rest of the world is forced to buy and sell oil in dollars no bad checks will be cashed on the US's horrendous economy. If you want hundreds of examples of why this is true just look at the war history of General Smedley http://r.duckduckgo.com/l/?kh=-1&uddg=http%3A%2F%2 Fwww.wanttoknow.info%2Fwarisaracket.shtml [duckduckgo.com]
Go green, Go Soylent.
(Score: 1) by Tork on Tuesday March 25 2014, @04:10AM
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(Score: 2) by Boxzy on Tuesday March 25 2014, @04:24AM
I never attempted to disprove your disproveable statement, I posted a more generally important concept, that what you rely on is a lie.
Go green, Go Soylent.
(Score: 1) by Tork on Tuesday March 25 2014, @04:32AM
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