Displaying items by tag: Fractional Reserve Banking
Fractional Reserve Banking - Greed, Government & Central Banks
Published in
Economics
Thursday, 16 April 2009 07:05
During times of crisis rhetoric works wonders. Especially upon an unsuspecting public. Kevin Rudd’s financial crisis whipping boy, “free-market fundamentalism, extreme capitalism and excessive greed,” is the perfect example. It rolls eloquently off the tongue. Voters in a handout state thrive off such rhetoric. It breeds contempt against straw man fundamentalism. The capitalist pigs must be blamed. Sadly ill informed Australian Christians have lapped it up. You must understand the motif behind this rhetoric. Simply stated; it paves the way for increased legislative power, leading to greater government spending. Our father in Canberra must provide you with your daily bread. So, the cards are being stacked for a bigger, grander government. Amidst the financial storm cries for a savior are touted. Our chivalrous government is groping at that title. Economics Nobel Prize Laureate (1974), Henry Hazlitt, observed;...”[t]here is no more persistent and influential faith in the world today than the faith in government spending.”[1]Nothing has changed. Greedy capitalists are to be martyred and the grandeur of government provides salvation. By faith you are to accept Canberra’s “free” deliverance from the toils of thrift and hard work.
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