jon_perez
03-02-2009, 01:08 AM
http://mises.org/story/3333
Gary North analyses is usually 2 steps ahead - sometimes 3 - ahead of most everyone.... Very, very eye opening...
Seems like there is something to what I was mulling earlier (in the "Greenspan's Legacy" thread, iirc), that the crisis might become so bad it could even mean the end of fractional reserve...
As for North's comments on tinfoil hatters, here they are:
"I have plenty of these ignoramuses contacting me, telling me it was all planned by the insiders. The conspiracy has won again! In their worldview, the conspiracy always wins. That is because they believe that the conspiracy has the attributes of God. It is omniscient, omnipotent, and omnipresent.
The thought that commercial-bank insiders actively demolished trillions of dollars of their own equity as part of a conspiratorial plan is so imbecilic, so outrageous, so ludicrous that I am convinced that these conspiracy worshippers have lost whatever remained of their minds.
That's about a quarter to a third of the population here on RPF, Gary North indicts... LOL!
Gary North analyses is usually 2 steps ahead - sometimes 3 - ahead of most everyone.... Very, very eye opening...
Seems like there is something to what I was mulling earlier (in the "Greenspan's Legacy" thread, iirc), that the crisis might become so bad it could even mean the end of fractional reserve...
As for North's comments on tinfoil hatters, here they are:
"I have plenty of these ignoramuses contacting me, telling me it was all planned by the insiders. The conspiracy has won again! In their worldview, the conspiracy always wins. That is because they believe that the conspiracy has the attributes of God. It is omniscient, omnipotent, and omnipresent.
The thought that commercial-bank insiders actively demolished trillions of dollars of their own equity as part of a conspiratorial plan is so imbecilic, so outrageous, so ludicrous that I am convinced that these conspiracy worshippers have lost whatever remained of their minds.
That's about a quarter to a third of the population here on RPF, Gary North indicts... LOL!