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Scott B
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Doug Casey on the Morality of Money

- Doug Casey - Casey Research

Aw, crud. I voted "1 star" on this article when I meant to do that on an article by Jesse the Keynesian (I had several tabs open and wasn't paying close enough attention). Sorry, Doug. If I could change my vote I'd give this 5 stars.

I guess that'll teach me not to vote, huh?

Commented 4596 days ago

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Beginning of the headline :In the old days, when Jesse James or other thieves robbed a bank, all the citizens would turn out to engage them in a gun battle in the streets. Why? Because it was actually their money, not the bankers'. It was just being stored in the bank; a robbed bank had immense personal consequences for everyone in a town. Today, nobody gives a damn if a bank is robbed – they'll get their money back from a US government agency. The bank has become impersonal; most aren't locally owned. And your deposit has been packaged up into some unfathomable security nobody is responsible for. The whole system has become corrupt. It degrades the very concept of money. This relates to why kids don't save coins in piggy banks any more – it's because they're no longer coins with value, they're just tokens, essentially worthless. All of US society is about as sound as the dollar now... Read More

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