Thursday, 22 November 2012

Marxist banking will destroy the government

It will be difficult for the government to survive the emergence and appeasement of fractional-reserve banking. Fractional reserve banking will destroy the currency in one of two ways: either the 'private' liabilities will be too large for the government to absorb and there will be a collapse of the banking and financial system. (Which will be hard for the government to survive.) Or the government will absorb the balance sheet of the banks onto its own balance sheet in defiance of the people and again the government will fail. In either case banking (in its present Marxist form) will destroy the government.

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