http://renegadeeconomist.com/blog/smhbanking-problems-bigger-prelehman-stiglitz.html Just another WordPress weblog Thu, 01 Jul 2010 21:56:34 -0700 http://wordpress.org/?v=2.8.5 hourly 1 http://renegadeeconomist.com/blog/smhbanking-problems-bigger-prelehman-stiglitz.html/comment-page-1#comment-448 joseph glynn Thu, 17 Sep 2009 19:57:26 +0000 http://renegadeeconomist.com/?p=711#comment-448 Colluding land monopolists and banking monopolists have crashed the global economy and devastated our future. Private banks have proven themselves ungovernable- a law unto themselves, and a global tyranny everywhere inflating land credit bubbles. As Abraham Lincoln said,'No duty is more imperative for the government than the duty it owes the people to furnish them with a sound and uniform currency...' 'Money is the creature of law, and the creation of the original issue of money should be maintained as the exclusive monopoly of national government'....'The privelege of creating and issuing money is not only the supreme prerogative of government, but it is the governments greatest creative opportunity'. 'Money will cease to be the master and become the the servant of humanity. Democracy will rise superior to the money power'. These quotations are from Abraham Lincoln's Monetatry Policy (1865), Senate Document 23, Page 91. The exclusive monopoly power private banks enjoy in the issuance and allocation of credit fuels the land credit boom/bust cycles now globally synchronised. Henry George's land reform and Lincoln's monetary reform go hand in hand in the Jubilee laws of Leviticus (Ch 25). If we waste the opportunity this global banking crisis affords we remain slaves by choice and sacrifice the earth and future generations to our monetary idol. Let's grasp the means to share this wonderful earth with respect to every living thing, or lose it all. Time to decide. Colluding land monopolists and banking monopolists have crashed the global economy and devastated our future. Private banks have proven themselves ungovernable- a law unto themselves, and a global tyranny everywhere inflating land credit bubbles.
As Abraham Lincoln said,’No duty is more imperative for the government than the duty it owes the people to furnish them with a sound and uniform currency…’ ‘Money is the creature of law, and the creation of the original issue of money should be maintained as the exclusive monopoly of national government’….’The privelege of creating and issuing money is not only the supreme prerogative of government, but it is the governments greatest creative opportunity’.
‘Money will cease to be the master and become the the servant of humanity. Democracy will rise superior to the money power’.
These quotations are from Abraham Lincoln’s Monetatry Policy (1865),
Senate Document 23, Page 91.
The exclusive monopoly power private banks enjoy in the issuance and allocation of credit fuels the land credit boom/bust cycles now globally synchronised. Henry George’s land reform and Lincoln’s monetary reform go hand in hand in the Jubilee laws of Leviticus (Ch 25). If we waste the opportunity this global banking crisis affords we remain slaves by choice and sacrifice the earth and future generations to our monetary idol. Let’s grasp the means to share this wonderful earth with respect to every living thing, or lose it all. Time to decide.

]]> http://renegadeeconomist.com/blog/smhbanking-problems-bigger-prelehman-stiglitz.html/comment-page-1#comment-442 Tony Beckwith Tue, 15 Sep 2009 11:17:49 +0000 http://renegadeeconomist.com/?p=711#comment-442 It's probably worth remembering that Stiglitz detests the current White House Economic Advisor Larry Summers, so is highly unlikely to be positive about economic prospects anyway! Having said that, Stiglitz's recent work on moving away from an obsession with GDP as a measurement of 'economic growth' gets that debate right out into the open: http://www.neurope.eu/articles/96146.php Having expected GDP figures to have to start turning positive, the question now is how much longer QE is kept going, creating asset bubbles (including housing?) on the way and against what economic backdrop on the ground...? Tony B. It’s probably worth remembering that Stiglitz detests the current White House Economic Advisor Larry Summers, so is highly unlikely to be positive about economic prospects anyway!
Having said that, Stiglitz’s recent work on moving away from an obsession with GDP as a measurement of ‘economic growth’ gets that debate right out into the open:
http://www.neurope.eu/articles/96146.php
Having expected GDP figures to have to start turning positive, the question now is how much longer QE is kept going, creating asset bubbles (including housing?) on the way and against what economic backdrop on the ground…?
Tony B.

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