<blockquote>Banks are in the business of making loans. Is that the right model?
- Mish,
Should Banks Lend Money At All?, September 8, 2014</blockquote>
'It is usually workers through unemployment and middle class savers through hidden or explicit taxes who end up paying'<blockquote> <ol>
<li>Excessive debt impedes growth, and very few sovereign debt crises in history have been resolved by growth</li>
<li>The only other way to "resolve" a debt crisis is to assign the losses to one group or another</li>
<li>It is usually workers through unemployment and middle class savers through hidden or explicit taxes who end up paying</li>
<li>It may or may not be worthwhile to save the banks at the expense of the middle and working classes, but at the very least we should discuss it openly and make sure that this is what we have really decided is in the best interests of the country. </li></ol>- Michael (
Reply From Pettis on Spain; Prisoner's Dilemma in Reverse; EMU End Game, November 21, 2014</blockquote>
Context<blockquote>
(Haptopraxeology) - '..We have lost three centuries as a result of ignoring our scholars!'(Banking Reform - English/Dutch) '..a truly stable financial and monetary system for the twenty-first century..'In The Electric Universe a Future of Peace and Love[/url</blockquote>