Capitalism is NOT Democratic: Democracy is NOT Capitalist

[georgephillip]

Who says deflation is good?

Which type of deflation?

Types of deflation - Economics Help

 

[Toddsterpatriot]

Better than Enron.

26 years on, Russia set to repay all Soviet Union's foreign debt

The Soviet Union was better than Enron? DURR

 

[georgephillip]

Before or after Chavez stole billions?

Are you jealous?

 

[Toddsterpatriot]

Which type of deflation?

Types of deflation - Economics Help

Which type of deflation?

Capitalism is NOT Democratic: Democracy is NOT Capitalist

How did those evil owners force you to work for them? They tricked him. They told him there would be cake.

www.usmessageboard.com

The type you were whining about in post #1977.

 

[Toddsterpatriot]

Are you jealous?

He was your hero, are you?

 

[georgephillip]

No. If you don't recall, or don't have the wherewithal to search for them yourself, I give no shits.

Why don't you try explaining the differences between industrial and finance capitalism?

America’s Path To A FIRE Economy

 

[dblack]

Why don't you try explaining the differences between industrial and finance capitalism?

Because you won't even read it. You'll just post another unrelated meme and pretend it means something relevant.
Why don't you argue for your position honestly? It would be a refreshing change.

 

[georgephillip]

"We want every fucking thing you do to be controlled by majority rule."

 

[dblack]

[another stupid fucking meme]

Which, as always, in no way addresses or contradicts my post. You want everything subject to your sacred majority rule.

 

[georgephillip]

one share buys you one vote…just like in a democracatic govt, one citizen (with age requirements) gets one vote.

however you can buy more shares and get more votes

What does one share/one vote tell you about equality of opportunity?

 

[georgephillip]

ead what Marx wrote…and of course seen it throughout history

Which of Marx's works have you read?

 

[georgephillip]

A crooked lawyer going to prison?
So sad.

Crooked corporation frames human rights lawyer, and you blame the lawyer.

 

[georgephillip]

'm the owner as long as I want to be.
You're still a poor loser.
Lose those chains, comrade!!!

What do you own, Bean Counter?

 

[georgephillip]

So you are admitting that democracy can't work.

I'm saying vast concentrations of money kill democracy.

 

[georgephillip]

Yes. We need a constitutional "wall of separation" between economic and state power. The more we combine them, the worse things get

Which side of that wall are corporations on?

 

[dblack]

Which side of that wall are corporations on?

Fuck you and your phony questions. You know goddamned well which side, you're just playing more stupid agitprop games. You've turned out to be a real piece of shit troll.

 

[bripat9643]

You can't find a single bank that had 100% gold coverage for every note they issued.

Please explain what "Partial gold coverage" is. I've never heard of it.

 

[bripat9643]

Which side of that wall are corporations on?

They are not on the "state power" side of the wall.

 

[bripat9643]

Better than Enron.

26 years on, Russia set to repay all Soviet Union's foreign debt

Russia is going to pay all the debt it incurred to the USA during WW II?

You're joking.

 

[bripat9643]

They all did.

You're confused.

What's the point of partial coverage?

So that they can redeem a portion of their notes with gold coin.

What does that even mean?

It means that you don't understand free banking.

Do they renege on their promise to return a specified amount of gold for the note?

If enough notes were redeemed, they reneged the shit out of their promise.

View attachment 570895
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https://www.philadelphiafed.org/-/media/frbp/assets/economy/articles/economic-insights/2016/q3/eiq316_free_banking_era.pdf

See this part at the end?

WHY DID SO MANY FREE BANKS FAIL?

Was it the consequence of unrestricted entry, or something else? A free bank’s reserves of gold and silver were typically small compared with the par value of its notes in circulation. Because their gold and silver reserves paid no interest, banks sought to keep only enough cash in their vaults to meet that day’s expected redemptions. But because free banks were required to pay the holders of their banknotes gold or silver on demand at par value, they were subject to runs if for some reason an unusually large number of note-holders decided to redeem their notes at the same time.

Normally, one would expect only a small fraction of outstanding banknotes to return to the issuing bank for redemption within a few days. But should the public suddenly suspect that the bank is in financial difficulty because, for instance, it made too many bad loans, an unusually large number of note-holders might simultaneously choose to redeem their notes, causing a bank run. Sometimes, bank runs start not necessarily because people believe that the bank is insolvent but simply because each note-holder believes that other note-holders will choose to redeem their notes today and everyone fears being last in line

>> They all did.

You're confused. <<

Nope. You are.

>>What's the point of partial coverage?

So that they can redeem a portion of their notes with gold coin. <<

Why would anyone use such notes?

>> What does that even mean?

It means that you don't understand free banking. >>

Of course I do. Russian foreign debt has nothing to do with free banking

>>Do they renege on their promise to return a specified amount of gold for the note?

If enough notes were redeemed, they reneged the shit out of their promise. <<

Yes they did. Old news. How does paying off old debt make their notes useful? They aren't even gold notes.