Sir John Whitmore - On The Crisis

[Ferrari312pb]

Ah, Sir John. What a driver !

[fwesdase]

we need a 100% gold standard. no more of this fractional reserve crap.

[janosabel]

@fwesdase

Going back to gold will not be enough.

Create and distribute debt free money to match the value of real wealth (goods and services) produced by the real economy.

[fwesdase]

@janosabel

i know what you mean, i fixed gold standard, per say, is probably too rigid and has caused problems in the past. im currently leaning more to fofoa's reference point gold idea. i think that once people have an legitimate way out of the global fiat monetary system, that system will have to reform itself or risk becomming obsolete.

[MIK415]

Hmmmm... Sir John is asking politicians to act logically and in a long-term fashion. My goodness, makes it sound like we're just caught up in a recent phenomenon that has no relationship to existing capital formation reality of , oh, the last 10 decades. What will make a poltician think long term? I know - how about holding a gun to their collective heads? Then you don;t have to pretend to be polite and in a state of beggary!

[15peter2015peter20]

I predict the EU will use global warming (which is a lie) to bring in legislation forcing people to buy new cars every 3 or 4 years, just as Japan did after their 90's financial collapse.

The objective here, as there, will be to stimulate borrowing by the public to fuel the necessary (but unsustainable) exponential growth required by the system.

He's right, structural change is definitely needed, but we won't get it. Just cynical, and obvious lies from politicians masquerading as green.

[SuperBlahmaster]

Good, but the environmental thing was sort of thrown in there, it wasn't covered at all. So he's not convincing people who disagree.