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Ever wonder how Russia and China have surpluses while western countries like US and UK only deal with debt.
That is because their central bank is NATIONAL FOR REAL, they issue bonds and currency to their own government for free. Read this again FOR FREE
Russia has less debt because the Fascist government controls the export of its mineral wealth, of course. The rest of your rant is equally ungrounded in fact.
During the 19th century, the U.S. averaged a financial panic every 20 years. In each case, the cause was federal or state governments “monkeying” with the banking business, making it legal for banks who presented themselves to depositors as full-reserve institutions to operate with only fractional reserves. As is regularly the case, politicians colluded with wheeler-dealer bankers to allow the latter to skirt fraud laws and inflate credit by issuing loans not backed by bank reserves or — what is essentially the same thing — inflating the currency by printing money (i.e. promises to pay gold or silver on demand) not actually backed by precious metals.
What most politicians never understand, however, is that the leveraging and inflating of bank reserves may initially produce a boom, but it must also end with an equivalently severe economic contraction. Because artificial, bank-created credit is essentially counterfeit capital, i.e., counterfeit savings, it misrepresents the true level of genuine investment capital, or built-up savings, available in an economy and thus misleads business people —by misinforming them as to the actual ability of the economy to support their entrepreneurial projects.
Thus, artificial, bank-created credit necessarily produces a disproportionately large number of bad investments. Entrepreneurs’ time, energy, financial resources and workers’ labor get directed into producing goods and services for which there is no real demand. For a contemporary example, think of all the homes built during the housing mania now sitting empty and unwanted.
As investments made during the boom increasingly reveal themselves as unsustainable, people are recognizing that somehow they were misled. Wiser individuals start cutting their investment losses by extracting their money, others follow and the entire economy starts the painful readjustment to reality.
You are clearly on the wrong site.
The OP needs not to feed you because you can find troll food elsewhere.
Honestly, your superiors need to re-evaluate your position because you are clearly not competent.
Source/proof? It's all over the net. But you already know that don't you?
Please put more effort into derailing a thread because you only make yourself look stupid. I can't even come up with all the labels that you clearly deserve.
originally posted by: DJW001
a reply to: DYepes
Did I say America is perfect? Our problems are not due to a small cabal controlling the a natural resource that is the principle driver of the economy, are they? Oh... I get it. "America bad."