- Although it s an idea worth looking at, banks don t create money. However, this requires looking afresh at the concept of money, something it s probablyMessage 1 of 90 , Jan 16, 2013View Source
Although it’s an idea worth looking at, banks don’t create money. However, this requires looking afresh at the concept of money, something it’s probably impossible to get economists to do. They’ve been taught certain basics, erected an edifice on them and are not prepared to relearn from the beginning which may mean shattering the edifice.
I don’t altogether blame them, but it forces monetary discussion along paths that may be completely incorrect.
Much the same happened with land. Once land becomes capital it becomes difficult or impossible to separate them, as is witnessed with the “housing bubble” discussion.
The Alumni Group
Henry George School
Of Los Angeles
Tujunga CA 91042
--- In LandCafe@yahoogroups.com, Bob Matter wrote:
>If that means getting private banks not printing money then that is the way to go. FDR took on Wall St and beat them all.
> "I want a strong currency. And lots of it." -FDR
- ... Inflation is shorter and more descriptive. ... Having a label and definition for the concept helps people share information about it. ... Maybe that sMessage 90 of 90 , Feb 1, 2013View Source--- In LandCafe@yahoogroups.com, "harrypollard" wrote:
> So why not say they are changing systematically?"Inflation" is shorter and more descriptive.
> How does calling rising prices inflation help to "understand how, when and why"?Having a label and definition for the concept helps people share information about it.
> Whereas inflation in its original meaning indicates that the money issuer has done something.Maybe that's part of it: the apologists for bankster privilege want to conceal the fact that it is private commercial banks that are issuing the money, not government.
-- Roy Langston