Curtiss is rightly worried -- as all nations and people are -- that too much money means none of it works.
But he has Greenspan all wrong. Guru G., whom I disagree with because he is too much allied with Curtiss and the Concord Coalition of deficit- fearing hard money enthusiasts, promises to protect the banking system only. This is an absolute necessity to prevent a severe depression. Once you make available to licensed banks, -- forced and able to pass many musters -- that is audits by the comptroller of the currency, the federal reserve, the fdic, etc., -- (to repeat) make available to these banks and their loan officers credit on the books of the central bank money enuf for them to continue to make loans to credit worthy borrowers at interest rates at least as high as the over-night bank rate imposed by the central bank, you ensure that business goes on BUT you do NOT risk hyperinflation. Hyperinflation can only result IF THE LIMIT- LESS money of the central bank and government is SPENT on projects and programs that do not create enough "meat for the table" for sale in your nations' markets. In Germany money was printed to pay government bills (not to create prudent bank loans at central bank controlled interest rates). Greenspan is Curtiss' ally in that he opposes fiscal deficits and incresed debt. He is also no fan of social credit or other debt-free money. He is my enemy -- he knows that our debt per- centage to GDP is many times lower than we can afford. He knows that, by inflation measure standards, we can create a substantial infusion of debt-free money (as Social Credit insists) to alleviate human suffering without risk to the a good life for those who now enjoy it. He knows that his refusal to to sympathize with the hungry children living without medical care, or with homeless families, is inexcusable. He will never enter heaven because if God does not know how terrible these hard-money guys are, I will tell Him myself. John ----- Original Message ----- From: W. Curtiss Priest <[EMAIL PROTECTED]> To: <[EMAIL PROTECTED]> ...<snip>... [see original message] ==^================================================================ This email was sent to: archive@mail-archive.com EASY UNSUBSCRIBE click here: http://topica.com/u/?a84IaC.bcVIgP.YXJjaGl2 Or send an email to: [EMAIL PROTECTED] TOPICA - Start your own email discussion group. FREE! http://www.topica.com/partner/tag02/create/index2.html ==^================================================================
