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Source: Yahoo Finance

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One Response to “This Is Housing Bubble 2.0: David Stockman”

  1. I’ve been reading “Salt” by Mark Kurlansky about its role in history…

    “The British advanced money to malangis against future salt production, and the malangis got deeper and deeper in debt and eventually were forced to work for the British producing salt to pay off their debt—virtual slaves to the British salt department.”

    What’s going on with American banking with the help of the government has parallels in history.

    We (metaphorically the 99%) have become the colonials dominated by outside forces and our dependence on the credit and currency creation over which we’ve ceded control.

    Jefferson also warned of this:

    “If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered…I believe that banking institutions are more dangerous to our liberties than standing armies… The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”

    Decision Technologies: Currencies and the Social Contract
    http://culturalengineer.blogspot.com/2010/07/decision-technologies-currencies-and.html