Tuesday, February 12, 2013
ANN BARNHARDT THE ECONOMY IS GOING TO IMPLODE
https://dl.dropbox.com/u/32961642/EconomicCollapseWorkbook.pdf.
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Interesting video from a smart woman, I think she has it mostly right explaining the problem. but somehow she still seems to want to defend fractional reserve banking. She also wants to defend interest (usury) using a Christian scriptures argument.
ReplyDeleteIt's strange she does make the leap to realize that all the lending must be backed, even stating the house lending should be market indexed. Why shouldn't the US dollars be indexed to gold like the way she wants the house mortgage prices backed.
Somehow she seems to have failed to acknowledge that inflation (caused by fractional reserve banking) at ANY level of the banking system is the cause of all of these problems.
Good explanation of credit default swaps and REPOs and how they are fundamentally flawed.
Mostly correct, well researched by Ann, a few logical flaws in an otherwise very good presentation.
PS and her name is Ann Barnhardt
Yes, that is how she spells it, ... and it is how i spelt it in the headline :P
Delete.... after some minor editing. :)
Anne is a smart woman and despite her views on fractional reserve lending, i appreciate what she brings to the table. Whether she is right or wrong ultimately is less important than the fact that we can actually have a conversation at a decent level. This might just lead to some long lasting solutions.
ReplyDeleteShe is from the 'industry' and this might explain her confidence in the fractional reserve lending cistern. As long as we don't go confusing our beliefs with facts we'll reach the promised land in the end.