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Submitted by joebhed on
Sorry for minimizing the importance of your analysis, but it really doesn't say much about anything that's important. First, let me state clearly that the causes of financial and economic instability lie with the nature of the money system employed by all the WB and IMF member countries. It has nothing to do with the size of the institutions. Please follow closely. The bedrock cause of global financial instability is the fact that with the fractional-reserved, debt-based money system, when the banks fail to lend - maybe for true survival reasons and maybe for the more injurious practice of wealth-accumulation via monetary contractions - the END result is that the national economies of the world have no money. N Having no money is the symptom of the problem, not the problem. Given the productive capacities of these national economies, with surplus labor, capacity and resources, it is clearly a systemic failure of the money system, not the banking system, that is the cause of the resulting financial instability. The solution to this current crisis and the means to prevent any future crises of financial instability is laid out in the long-lost paper by six noted economists in 1939 called A Program For Monetary Reform, and it can be had via connecting to this link at our website at economicstability.org . http://www.economicstability.org/history/a-program-for-monetary-reform-the-1939-document If you want to save free-enterprise, you need to restore the level playing field of a permanent and adequate supply of each nation's circulating medium. Thanks. Joe Bongiovanni Harborton, Virginia The Kettle Pond Institute