Aug. 30, 2012
The $16 trillion national debt, now larger than the entire economy, would shrink to the debt to 88 percent of GDP within ten years.
Dinesh D'Souza's new documentary on American President Barack Obama has raked in a lot of money. It's hard to find and some critics have not seen it. However, it has won many over.
Far too many politicians, planners, bureaucrats and judges see themselves as intellectually gifted rulers, who know what's best for us citizens, treating communities, businesses, families and people like let's-pretend virtual realities in a SimCity, SimState or SimNation – helpless, ill-prepared to make our own decisions, and in need of constant, pervasive "guidance."
The theme of the evening was "We Can Change It."
"Under 100%-reserve banking, banks that accepted deposits would essentially be transformed into money-market mutual funds — 'narrow banks' — which could not create credit… How would credit be supplied in such a money and banking system? Merchant (or investment) banks that do not accept deposits would assume that function."