monetary reform nonsense watch

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New Rules For Western Banks, Same Hypocrisy

The “extra capital” which (some) U.S. banks will be forced to implement over a period of seven years under the new “Basel II” accord would all be 100% consumed (plus much more) if U.S. housing prices fall even 1% more

28Jun2011 | | 0 comments | Continued
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Odious Debt… Apologetics

“Let me be clear: I don’t like odious debt, debt peonage and Draconian austerity any more than Brown does — especially when there are vast areas of waste and graft that could be cut to balance the budget instead. But it’s irresponsible to argue that “deficits don’t matter” in order to justify cutting nothing. We need an honest focus on the key areas that could (and SHOULD) be cut and do the least real damage to the domestic economy, so that people can start agitating for that course of action. All these innumerate fiscal apologetics from “progressives” do is provide cover for the military and banking looters at the public trough.”

27Apr2011 | | 2 comments | Continued