Ron: Today, 17 October 2008, I had a a somewhat truncated letter published in the Canberra Times (The Canberra Times' motto is: "To Serve the National City and Through it the Nation"). The letter reads:
Fraud by 'banksters'
‘Paul Klugman (“Thank heavens Brown knows what he is doing:” October 15, p.21) says British Prime Minister Gordon Brown’s major equity injections into British banks backed by guarantees on bank debt may solve the global financial crisis.
Wrong. Brown’s solution ignores the cause, which is fraudulent money creation combined with usury, grossly leveraged lending and fraudulent consumer lending practices. The crisis stems from frauds by “banksters”.
Solving it requires criminal prosecution of the perpetrators not rewarding them with trillions of dollars of taxpayer’s money.
Simultaneously the fiat system of electronic money creation out of nothing coupled with usury, charging compound interest on that virtual money, must be scrapped.
Banks being rewarded with multi-billions in taxpayer’s funds are in trouble because they lent up to sixty times the amount of funds available, charging huge fees and/or compound interest. And it continues.