And we see that banks create credit – which governments could create just as easily, along more socially and economically productive lines.
* * *
So we’re classical economists. Hyman Minsky was the main modern monetary theorist. Heterodox meant that he got his ideas largely from Marx. You can say classical political economy reached its logical conclusion with Marx.
The first bit, before the asterisk-ellipsis, is funny. It's a religious belief on display there, that "government" as some specious, formless idealized entity, would be any better than private entities.
But this is a ruse, please note that.
It's hiding something about what caused banks to be hated/feared/not respected by those whom they impoverish and ruin.
One might be better to look at banks and bankers and what are their motives and their own private religious beliefs, but we'll sidestep that through polysyllabic niche jargon (above, omitted via said ellipsis) and get to the real truth. I provide it as a translation of the two ellipsis-severed statements:
We trust in Karl Marx's analysis, we believe him positively papal in his pronouncements, and we treat those scriptures he divinely authored as the Black Letter Canonical Law they deserve to become.
This, good readers of Ratchet Theory by Simulated Beavers and Pink Chipmunks Occasionally Transmogrifying into a Six-Headed Dragon, is the Ultimate Truth --
Marx was correct.
Please don't say, "Marx was right." He was never Right. Always, always, always Left. The very essence of it, in fact!
Try just a wee bit harder, Chalupa.
There's a good reason a lot of people don't think Govt gets it right when Govt has the authority/responsibility/power to control any aspect of human society.
Socialism and Marxism assume that a certain priest-like caste can determine what will be that Ultimate Noble Government's composition, framework, and power-exertion apparatus. They ask us non-Marxists and non-Socialists to trust them on that one. After all, these priest-like architects of Perfect, Noble Government know more than any of us.
That's what Hudson's pukepile tries to suggest.
Isn't that a whole lot of brambles and tar pits set up to protect Judaism's role in banking and Marxism?
Take off your ideological blinders and think about it, little pup.
--Hal Caidagh, son of Eire, child of the RC Church, foe of Judaism's principles and reluctant neighbor to, if not openly trusting of, Jews themselves.