Exploiting Legal Loopholes . . . for Fun and Profit!

About a year ago I wrote here an open letter to NPR reporter Adam Davidson challenging him to delve into the subtleties of our nation's banking system that have, from the available evidence, thus eluded him. After reading several books by authors that otherwise appear quite competent discussing economics, I realize I may have been too harsh on Davidson, since even these authors miss a single subtlety that allows banks to run roughshod over our economic system and to this day party like it's 1928. I'm referring to a fact that I've mentioned here several times, but the stunning implications of which I only realized the day I typed my last entry.

( I hope you find this theory as stunning and earth-shattering as I have. )