Saturday, 5 January 2013

Only the left want to change banking

Assuming that it is not good for private firms to have the ability to increase the money supply (that banking is bad) then we would assume most people would be opposed to how banking operates. If we do not want to allow private firms to be able to cause inflation we would want to change the system. If we want a 'sound' currency. Because the government allows the banks to inflate the currency it is inconsistent to be supportive of the government and for sound money. We cannot support the government if we support sound money. But it is not so important that we are able to support the government. (It is not vital that we are able to support the government.) If being against the government is not a problem for your philosophy then the currency arrangement with banking is fine. We only have a problem with banking if we object to the role of the government in enabling the banks to cause inflation. If we are fine with the role of the government in allowing the banks to cause inflation then we have no objection to banking. Only people who support the government want to change banking.

No comments:

Post a Comment