We rule, not banks!

Janusz Korwin-Mikke, born October 27, 1942 in Warsaw, Poland) is a Polish PALEOLIBERTARIAN political commentator and politician.
In 1987 he was elected the chairman of a liberal-conservative political party called Ruch Polityki Realnej (The Real Politics Movement).
Janusz Korwin-Mikke's economic views are radically liberal, in the classical sense of the word; in the U.S. his views would be best described as libertarian. He frequently refers to such figures as Adam Smith, Milton Friedman or Ayn Rand.

Category:

News & Politics

Tags:

• Janusz
• Korwin-Mikke
• Bank
• Milton
• Friedman
• FED

[davorinas]

Nice!

[Trimbler00]

The customer rules in every transaction...

[WelcomeToTheFreekSho]

That the bank benefits from the transaction is certainly true, because we pay it for something it costs nothing to create. If a bank can issue credit, why can't any individual or corporation also offer credit which has no backing, like the bank does? If it is wrong for an individual to lend money they do not possess, then it is also wrong--and fraudulent--for banks to do the same.

[grraadd]

great job man!

with translation - have you got more of these?

[publicanimal]

You know I've never quite thought about it in those terms but it's very true, especially with fractional reserve banking. The only way they can create money is by lending, thus by taking a loan we are allowing them to create more money for themselves. The customer does rule.