Wednesday, October 27, 2010

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It breaks the taboo on fractional reserve

Who was going to tell us!
I almost had to rub my eyes when I saw the headline. In fact, I have them all with me in the end it is not an elaborate joke or the star leave immediately deny having said what the news said that he had said.

But first, let us introduce an assumption of reality:

face it: liberals are an absolute minority. Socialism is an ideology rather, is "ideology." Not only the dominant, but has become the system. Has variants and above all different shades, but most world population considered essential state power almost all-powerful "direct" (not only to regulate) the relationships between countries, between social groups and even between individuals. This vision been substituted the God of religion by the God-state, is compounded in terms of economics. The catapult economic misconceptions most of the world population to a sense of insecurity and victimization that makes them beg for protection. Given this fear, people prefer to sacrifice some (or all) of their freedom in exchange for protection (actually, in exchange for a false sense of protection). Socialism provides the false sense and varnished with a heroism violent and hateful. Hatred tends to work more simply and efficiently than any other drive.

But also, within liberalism, the branch "Austrian" also is a minority. Believe that liberalism is a monolithic or one-way flow is a ridiculous naivete. Many liberals are from his conservatism. Others are considered traditional, others have come to liberalism from Christian or Jewish faith, others separate the economic liberalism of the social ... In economic beliefs fragmentation is greater and there are many strong trends with common roots but with branches that grow in different directions and sometimes clashing reach. The "Austroliberalismo" , despite the laudable efforts of some organizations, it is also quite a minority in Spain. There are "many" who claim to know and defend it. Few can be considered true representatives of this trend. (In my case, although I recognize my tendency to consider this branch of liberalism as the most convincing, unashamedly admit my limitations prevent me from considering me a worthy representative of it).

One of the "key ideas" of this branch of liberalism, is on the abolition of fractional reserve banking. In the last quarter century, who probably has made more and more to this idea is a English, Jesus Huerta de Soto. It is known their thesis are answered by the few who stand to discuss. Especially as "revolutionary" would move to a completely different banking system today. Needless to say, the provosts of the current system are those most in circles refuse to consider such action.

For that reason, who could imagine that those who break the taboo on this subject, it would precisely, A GOVERNOR OF CENTRAL BANK IMPORTANT?

've read you well. If you have been bowlegged, you and me both:

Governor Ban co England


supports "eliminating fractional reserve "



There is hope. Surely now you throw up hundreds of static, but the spigot has been opened. Even if ultimately not going anywhere, liberalism has a unique opportunity to defend their ideas. While that be elsewhere, not in Spain. But let's face it: anyone really think that in a socialist country such as ours could prosper a similar debate in the U.S. before. UU. or England?


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