http://www.dailyreckoning.com.au/modern-economists/2008/07/28/ An independent perspective on the Australian and global investment markets Sat, 21 Nov 2009 10:39:45 -0600 http://wordpress.org/?v=2.8 hourly 1 http://www.dailyreckoning.com.au/modern-economists/2008/07/28/comment-page-1/#comment-32561 Mireille Tue, 29 Jul 2008 13:26:32 +0000 http://www.dailyreckoning.com.au/?p=3096#comment-32561 Mr. Davies I agree. Mr. Davies I agree.

]]> http://www.dailyreckoning.com.au/modern-economists/2008/07/28/comment-page-1/#comment-32397 Stuart Davies Mon, 28 Jul 2008 15:02:29 +0000 http://www.dailyreckoning.com.au/?p=3096#comment-32397 Here it is again, the famous mis-attribution of responsibility. Yes, the government prints the physical currency, and yes, they share a major responsibility for a major portion of the increase in the supply of the even more ubiquitous digital dollars that are created. However, as I'm sure you know perfectly well, Bill, it is the privately owned Fed and the other central banks which are responsible for the majority of money created from thin air, that "print as much money as they want". To the extent that governments in general, in particular the Uninted States government, have become subsidiaries of the central Banks and their interlocking web of trans-national mega-corporations, it is semi-accurate to say that it is the government prints as much money as they want. without that expicit acknowlegement, however, this contrary to the simple truth. The central bank "prints" the money, and they own the government, period. Here it is again, the famous mis-attribution of responsibility. Yes, the government prints the physical currency, and yes, they share a major responsibility for a major portion of the increase in the supply of the even more ubiquitous digital dollars that are created. However, as I'm sure you know perfectly well, Bill, it is the privately owned Fed and the other central banks which are responsible for the majority of money created from thin air, that "print as much money as they want".
To the extent that governments in general, in particular the Uninted States government, have become subsidiaries of the central Banks and their interlocking web of trans-national mega-corporations, it is semi-accurate to say that it is the government prints as much money as they want. without that expicit acknowlegement, however, this contrary to the simple truth. The central bank "prints" the money, and they own the government, period.

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