Another Money Corrective

(Just thought I'd post this here as well, since it's so darned long and you have need of reading things that are tl;dr.)

I just got through reading a very insightful reply from montecristo, one free of bombast and flourish, but focusing rather on the meat of his philosophy, a kind of exegesis. I thank him for his candor.

I cannot, though, overlook his errors. Now, before everyone rushes to the mods and reports this as a trolling post, bear in mind that he makes some very common mistakes on a subject that very few command well at all, myself especially. These mistakes are, in my opinion, directly responsible for a majority of the economic problems we are facing as a planet. Therefore, be your philosophical bent to the center, to the left, to the right; be it up to the totalitarian or down toward the anarchists; be it with Xenu or Gaia or whomever; all of us can benefit from a basic primer ( into the basic manner in which money today is created. )

"All the perplexities, confusions and distresses in America arise not from defects in the Constitution or Confederation, not from want of honor or virtue, as much as from downright ignorance of the nature of coin, credit and circulation."

(John Adams, in a letter to Thomas Jefferson.)


X-Posted to talk_politics and to the_recession.