tag:blogger.com,1999:blog-648884752216444797.post3216584042109878892..comments2024-03-22T17:43:18.211-07:00Comments on bionic mosquito: White and Salerno on Gold and Bankingbionic mosquitohttp://www.blogger.com/profile/12002548958078731031noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-648884752216444797.post-47910145493648187212014-10-27T02:00:22.642-07:002014-10-27T02:00:22.642-07:00@M111ark, I agree with you. Debt-money issued by ...@M111ark, I agree with you. Debt-money issued by FRBs is the problem. Banks create debt-money but they don't create the money to pay interest on the debt already created. Only by constantly issuing new debt-money into the economy can existing debt be repaid with interest. If people stop taking out new loans(a credit crunch) then the existing pile of debt cannot be repaid. Loans go bad and banks go bust(or more likely get a government bailout). The pile of debt-money must constantly expand to keep the FRBs profitableCommenter No 1noreply@blogger.comtag:blogger.com,1999:blog-648884752216444797.post-20345032611651057322014-10-25T04:29:43.817-07:002014-10-25T04:29:43.817-07:00Ya' really gotta rethink that fractional reser...Ya' really gotta rethink that fractional reserve banking thing... I'll take your word for it that Rothbard called it fraud, it is and it's far worse than than that.<br /><br />From my earlier comments I suggested that you formulate the consequences of bank created debt-money. I see that you've decided against that, too bad...<br /><br />The world needs and Einstein of economics. He famously started at the beginning, thinking of things others long since dismissed as mere fundamentals already understood by all. <br /><br />Pity.markhttps://www.blogger.com/profile/07458572414243185043noreply@blogger.com