http://annehodgson.de/2008/09/30/hlmencken-on-crooked-banks/ Learning English Online with Anne Hodgson Wed, 01 Feb 2012 18:01:24 +0100 http://wordpress.org/?v=2.8.4 hourly 1 http://annehodgson.de/2008/09/30/hlmencken-on-crooked-banks/comment-page-1/#comment-1343 Peter Hebert Thu, 04 Dec 2008 15:19:37 +0000 http://annehodgson.de/blog/2008/09/30/hlmencken-on-crooked-banks/#comment-1343 It's funny that the likes of H.L.Mencken is being re visited in 2008. We are witnessing history repeat itself, because of the Federal Reserve, fractional reserve lending, and the extension of excessive credit which created the boom - bust cycle. There is no such thing as a normal business cycle. This crisis, like ones from the 1920s and the 1930s, was manufactured by the private sector due to elected officials not understanding the nature of credit and the monetary supply. By creating a global crisis, a global solution can be proposed. Call it the Global Monetary Authority of the New World Order, call it whatever you want. This crisis was manufactured, not one aspect of it took place by accident. It’s funny that the likes of H.L.Mencken is being re visited in 2008. We are witnessing history repeat itself, because of the Federal Reserve, fractional reserve lending, and the extension of excessive credit which created the boom – bust cycle. There is no such thing as a normal business cycle. This crisis, like ones from the 1920s and the 1930s, was manufactured by the private sector due to elected officials not understanding the nature of credit and the monetary supply. By creating a global crisis, a global solution can be proposed. Call it the Global Monetary Authority of the New World Order, call it whatever you want. This crisis was manufactured, not one aspect of it took place by accident.

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