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Wednesday, February 10, 2010

Lincoln

>>"I do think that you're overlooking how much suffering the innocent victims of the recession must endure for your purity."

It's not purity. There's a right way and a wrong way to run a monetary system, and what is wrong will always be wrong. The wrong way to run a monetary system is *always* the wrong way. You don't resort to flawed, short-sighted policies to repair a system broken by flawed, short-sighted policies.

If the founding fathers wanted the government to depend on a private banking cartel to feed them credit during a recession, they would have included that option in the Constitution. They did not. They knew that once you take that easy shortcut, you are destined to lose all sovereignty.

Lincoln turned down the banking cartel when he needed to issue currency during the Civil War. If Lincoln couldn't be persuaded to prostrate himself before the banks during a civil war, then I hardly see why we should increase our dependence on creditors during something less cataclysmic, like this recession.

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