Thursday, 05 December 2013 18:34

The Economic Recovery

We are told the economy is recovering, we are told not to worry.  "All is well, we are seeing the recovery now", I have been hearing and reading words like these for some time now.  I think I'd need to be on drugs to believe this message.

How can there be a debt problem in a monetary system that relies on the creation of debt to facilitate the creation of new money?  If debt is a problem and is considered generally to be a problem in the world of banking, money and political finance then it seems like a devastating error to have made it a part of the actual process of creating money in the first place.  Of course debt is a problem when it is an integral part of the finance process.

Published in Editorial


a warning to the American people not to fall into the same trap as the Soviets, not to see only a distorted and desperate view of the other side, not to see conflict as inevitable, accommodation as impossible and communication as nothing more than an exchange of threats. JFK Commencement Address American University, Washington, Monday, June 10, 1963