As the pyramid ponzi-money continues to unravel in the states, here in Australia we have one ardent fractional-reservist who is charging about desperately arguing that the American taxpayer must continue to subsidise wealthy bankers. Cambria is arguing that this subisidy of about $2000 at least for every man woman and child in the US is necessary to keep rich bankers in the lifestyle that they have become accustomed to.
Clearly Cambria was always a crony-communist insinuating himself onto the free enterprise side of things. Consider what this wiould mean here. In this country one billion dollars is apparently a little bit too much to ask for for our poorest retirees living in squalid conditions. But a bailout of a similiar proportion here would be for perhaps 40-50 billion dollars to keep bankers in the comfort and style that they have drawn accustomed to.
Over at “Thoughts On Freedom” people seem a little bit stunned and are giving Cambria’s crony-communist option the benefit of the doubt. Cambria may have even gone into multiple personalities to push this outrage.
This is what happens when a ponzi-scheme comes unstuck. These bankers thought that they were the Kings of free enterprise. When in reality they were pampered parasites.
So lets get this straight because its important to understand. You have cash. And you have this racket, supported by government, where they pyramid all this ponzi-money on top of the cash. They ought not be able to do it. Or if they are able to do it they ought not be able to do it much. You and me would get thrown in jail if we tried this obvious fraud on. Hence a reserve asset ratio is entirely appropriate for them to have to deal with in return for the government to produce enough cash to bring the crisis to an end.
We have three idiots over at Thoughts On Freedom. And all three of them might be Cambria. He’s trying to confuse people into thinking that we ought to just hand all of our extra-money over to bankers and that this is only fair and proper. Perhaps we can make them our overlords.
But there is no trick to this. The ponzi-money is collapsing. Hence the idea is to flush in much cash to replace it and have a reserve-asset-ratio put in that will stop this extra cash from being inflationary.
There is no substitute for doing this. We might all decide to become serfs for the pleasure of rich bankers and that still wouldn’t help. Because it won’t increase the amount of cash available in relation to ponzi-money.
So don’t be fooled by Cambria. Cambria is utterly full of shit. And we now know why it was he never supported me in these threads of doom when Mark Hill, Reynolds, and all the others were talking such nonsense thread after everlasting thread.
The thing about talking money with these parasites is that they lie all the time and they expect the rest of us to put up with being stolen from by these guys.
And its no different here with Cambria.
Now think of how much of a subsidy everything the Feds are doing is. Already they are loaning all this money to the banks at bottom basement interest rates. Apparently they can do this without Congressional stealing to assist them. Why should bankers get these benefits? Supposing these benefits came my way. Supposing if I was allowed to refinance my house at 2% interest. How would that not be a subsidy?
The differnce is that this money in my hands would actually acheive something. At the expense of the rest of you I’d be much better off. But any amount of money the American taxpayer subsidises these financial institutions is just propping up economically injurious operations.
The dillemma is this. If they flush in enough cash to replace the ponzi-money without instituting a reserve asset ratio than the problem will be solved but thereafter the financial institutions will go on a money creation binge. Extorting all sorts of wealth to their own pockets and creating inflation.
But if they don’t flush in enough money, not only will all the banks go bust but it will hurt main street as well. So its a question of letting the bankers keep their ill-gotten earnings, letting the institutions go bust, and from there on in not letting these guys create any more ponzie-money.