Money is a concept that is valid as long as we believe in it. Its physical instantiations are merely symbols representative of the concept, whether the symbols be paper, electronic ledgers, coins, or any other symbol the people of a society are mutually willing to suspend their disbelief about.
The government issued a 16 trillion dollar credit as an electronic ledger entry to bail out the banks. There was no corresponding debt issued at that time, as this would have been apparent by inspection of the national debt at the time this credit was added to the ledger.
There is no question that this is what happened. The question is whether the government thinks we, the people, are as important to it as the banks are.
kozandaishi
The short answer is No…. at least since 1963, if not before.
Incitatus rides – or rather, is ridden – again ! Ave Imperator, morituri te salutant !…
Henri
psychohistorian
This is just more eleven dimensional chess kabuki hiding centuries of inheritance and ongoing accumulation of “property” by the few to enslave the many. The global inherited rich are the ones that need to have their virgin daughters and sons sacrificed to Anon Amarth so all their inheritance reverts to the public commons of the “Western” world.
kozandaishi
Let’s put it this way – we’d all be better off, if indeed there was a Hobbit in the White House.
Money is a concept that is valid as long as we believe in it. Its physical instantiations are merely symbols representative of the concept, whether the symbols be paper, electronic ledgers, coins, or any other symbol the people of a society are mutually willing to suspend their disbelief about.
The government issued a 16 trillion dollar credit as an electronic ledger entry to bail out the banks. There was no corresponding debt issued at that time, as this would have been apparent by inspection of the national debt at the time this credit was added to the ledger.
There is no question that this is what happened. The question is whether the government thinks we, the people, are as important to it as the banks are.
The short answer is No…. at least since 1963, if not before.
Incitatus rides – or rather, is ridden – again ! Ave Imperator, morituri te salutant !…
Henri
This is just more eleven dimensional chess kabuki hiding centuries of inheritance and ongoing accumulation of “property” by the few to enslave the many. The global inherited rich are the ones that need to have their virgin daughters and sons sacrificed to Anon Amarth so all their inheritance reverts to the public commons of the “Western” world.
Let’s put it this way – we’d all be better off, if indeed there was a Hobbit in the White House.