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Exactly. Bankruptcy and insolvency is an immune response to financial illness in markets. However, instead of removing cancerous growths, we bail them out and t
by natenthe 6y ago
Exactly. Bankruptcy and insolvency is an immune response to financial illness in markets. However, instead of removing cancerous growths, we bail them out and thus they metastasize and become much larger and more lethal. This inevitably leads to the death of the host.
- seppin 6y agoOne bank (lehman brothers) went bankrupt and the global economy was instantly in a death spiral. If many did, it would have been multiple factors worse.
- fuzzfactor 6y agoThe host is already beyond recovery for the US dollar to ever again function as designed. Thos. Jefferson's quote continues: > I believe that banking institutions are more dangerous to our liberties than standing armies... The issuing power should be taken from the banks and restored to the people to whom it properly belongs.” Remember the purpose of the US Mint was to convert the silver & gold of any citizen into legal tender for a reasonable fee and return it to them as coins. Printing of bank notes was not on the agenda until politicians having a more predatory agenda got their way.