Saturday, February 7, 2009

Gary North Blasts American Banking Fascism

Gary North gives fantastic perspective to the failure of fascist banking in America:

The American conspirators have lost the one thing that they thought they had: control over the nation and the nation's finances by means of the fractional reserve banking system. That system is coming unglued, just as Ludwig von Mises said it would, just as Murray Rothbard said it would, and just as those other Austrian economists who understand the enormous weakness of the fractional reserve system had said would eventually take place.

I wonder sometimes if there is anything coherent remaining in what is generally called the conservative movement. Do any of these people have a clue as to what has been taking place? We are seeing the disintegration of the fractional reserve banking system all over the world. It is being held together by bailouts, which are the government equivalent of bailing wire and chewing gum.

Basically, the economic laws of the universe are having their way with the backside of central banking. This is not the failure of the free market, it is the triumph of the free market over the fascist, government-directed system that has been suffocating it for nearly a century. The scrambling of central bankers and politicians all over the world is an attempt to sustain the conspiracy and the power it gives them just a little while longer. It won't work. Great, great read. Gary North is one of the select few who saw the whole crisis coming and predicted it almost to the day. Read everything you can find by him. It seems like very day I'm posting another "Must Read." This is another. I highly recommend you go read it.

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