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Originally Posted by alexamenos
I don't want anything resembling the situation we have now -- an unaccountable private cartel committing the moral equivalent of counterfeiting with impunity -- this is the situation we have and the situation which you defend.
My earlier point remains -- inasmuch as you have no vote as it pertains to monetary policy (or the people who set monetary policy), your vote doesn't really matter.
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you are saying it's a bad thing that I don't have a vote in the matter. I'm saying it's a good thing. You also don't want me voting on how many tanks should be kept in Germany, how to build the proper amount of sway into a skyscraper, or how many microns of rat poop are allowed to go unannounced in baby formula. "moral equivalent." please.
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My analysis is a simple statement of economic law, no more controversial than saying that an increase in the supply of a thing reduces it's price, all other things being equal. .
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All other things aren't equal.