The Death of Credit

[quote]pat wrote:

[quote]LIFTICVSMAXIMVS wrote:

[quote]ZEB wrote:

[quote]LIFTICVSMAXIMVS wrote:
Fear not good citizens; here, have some more of our paper.

Hahahaha!

People are dumb.[/quote]

The dollar is up today.[/quote]

Hahahahaha

Against what? other paper currencies that are backed by the same worthless paper?
[/quote]

So what do you use to purchase goods and services? Goats, gold, what?

It’s easy to criticize, what’s the solution. [/quote]

He has no solution, he never does. He throws out a few inane comments regarding anarchy and then he’s off on his merry way.

It’s kind of hard to use gold/silver as money when doing so gets you punished…

Occupy Wall Street, c 1793:

“…Many of those whose violence in 1788 and 1789 had made Paris ungovernable, and thus allowed the Revolution to succeed, had never been much enamored of economic liberalism or individualism. Much of their anger had been a reaction against the unpredictable and impersonal operation of the market. They had clung to the traditional mind-set which saw in price rises and shortages the operation of a ‘famine plot’ and, so far from wanting the state to dismantle all customary protection, wanted a more interventionist policy. They were not only indifferent, then, but actually hostile to much of the modernizing and reformist enterprise embarked on, first by the monarchy and then by successive revolutionary inheritor regimes.”

Schama, Simon, Citizens: A Chronicle of the French Revolution, (1989), pp 754-755.

[quote]DrSkeptix wrote:
Occupy Wall Street, c 1793:

“…Many of those whose violence in 1788 and 1789 had made Paris ungovernable, and thus allowed the Revolution to succeed, had never been much enamored of economic liberalism or individualism. Much of their anger had been a reaction against the unpredictable and impersonal operation of the market. They had clung to the traditional mind-set which saw in price rises and shortages the operation of a ‘famine plot’ and, so far from wanting the state to dismantle all customary protection, wanted a more interventionist policy. They were not only indifferent, then, but actually hostile to much of the modernizing and reformist enterprise embarked on, first by the monarchy and then by successive revolutionary inheritor regimes.”

Schama, Simon, Citizens: A Chronicle of the French Revolution, (1989), pp 754-755.[/quote]

Awesome find, Doc; on the 754th page of what I’m certain is an even more monstrous tome, no less.

[quote]Cortes wrote:

[quote]DrSkeptix wrote:
Occupy Wall Street, c 1793:

“…Many of those whose violence in 1788 and 1789 had made Paris ungovernable, and thus allowed the Revolution to succeed, had never been much enamored of economic liberalism or individualism. Much of their anger had been a reaction against the unpredictable and impersonal operation of the market. They had clung to the traditional mind-set which saw in price rises and shortages the operation of a ‘famine plot’ and, so far from wanting the state to dismantle all customary protection, wanted a more interventionist policy. They were not only indifferent, then, but actually hostile to much of the modernizing and reformist enterprise embarked on, first by the monarchy and then by successive revolutionary inheritor regimes.”

Schama, Simon, Citizens: A Chronicle of the French Revolution, (1989), pp 754-755.[/quote]

Awesome find, Doc; on the 754th page of what I’m certain is an even more monstrous tome, no less.

[/quote]

The only heavy lifting I do lately.

Homage to Varqanir (and Mark Twain): History does not repeat itself, but it sure does rhyme.

“If one had to look for one indisputable story of the transformation in the French Revolution, it would be the creation of the juridical entity of the citizen. But no sooner had this hypothetically free person been invented than his liberties were circumscribed by the police power of the state. This was always done in the name of republican patriotism…Militarized nationalism was not, in some accidental way, the unintended consequence of the French Revolution: it was its heart and soul.”

Ibid. p 858.

Is Europe doomed?