by Frank Shostak
"There are two kinds of credit: that which would be offered in a market economy with sound money and banking (good credit); and that which is made possible only through a system of central banking, artificially low interest rates, and fractional reserves (bad credit).
Banks cannot expand good credit as such. All that they can do in reality is to facilitate the transfer of a given pool of savings from savers (lenders) to borrowers. To understand why, we must first understand how good credit comes to be and the function it serves."
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Sunday, October 19, 2008
Friday, October 10, 2008
Jim Rogers on Wall Street
Successful commodities investor Jim Rogers on Wall Street and the future of equities.
Wednesday, October 1, 2008
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