The Fed

The best remedy would be for the government to stop interfering and let the market process work.

"As a response to the actions of the Bank of England, the Currency School proposed a simple, yet powerful limitation on the bank: a 100-percent reserve requirement on the issue of new bank notes."

However, it is perhaps not too optimistic to assume that those governments and parties whose policies have led to this crisis will some day disappear from the stage and make way for men whose economic program leads, not to destruction and chaos, but to economic development and progress.

Bernanke and the other macro wizards will just so happen to find that their models point them toward bailing out the major bankers and other politically connected titans of finance.

"Through Fed monetary policy, the dollar is cheapened to produce an economy on steroids that eventually breaks down."

The only really good trends exist in two worlds right now. In the digital world, we see growth and expansion and progress. This sector is not as heavily hooked up to manipulations of the Keynesian elite, and its development has proceeded at a clip even in a depression.

By whatever name you call it, this massive "pump priming" by the US monetary authorities will engender exactly the same results it always has: malinvestment, dollar debasement, and speculative mania.

Bankers can spend their interest payments on real goods and services, thereby returning that money to the public, which can then use it again for further debt payments.

This is the sense in which our fiat-money, fractional-reserve system uses "debt-based money."

"Under deflation, it is those non–wealth generating activities that end up having the most difficulties in serving their debt, because these activities were never generating any real wealth and were really supported or funded, so to speak, by genuine wealth generators."