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Wednesday miscellany


  1. Ellendra
    Ellendra November 23, 2011 3:46 pm

    “Shoe factories paid their workers in bonds for shoes which they could exchange at the bakery for bread or the meat market for meat.”

    Am I the only one who thinks that seems like a really cool way to do things? And, from what I understand, if they were labelled “coupons” instead of “bonds”, and contained a disclaimer that it wasn’t redeemable for cash and did not count as legal tender, they’d be legal in the US. A possible small-community currency alternative?

    (I know, I know, the whole “Does it matter if it’s legal or not?” thing, but for some of us, for one reason or another, the attempt to stay legal still matters. Personally, I try for now because my dad would be the first to turn me in.)

  2. EN
    EN November 23, 2011 7:34 pm

    This caught my attention. One might even say a chill ran down my spine. So the Germans have already gone this route with disastrous results, “but most observers now agree that massive ECB intervention is the only way to avoid catastrophe”???

  3. Claire
    Claire November 23, 2011 7:51 pm

    EN — Exactly. It’s creepy, the uniformity with which conventional pundits are now crying for “massive ECB intervention.” They insist it’s the only cure. They insist that, if it doesn’t happen, catastrophe will ensue. Gads, how many times, from how many commentators have we all read that in the last few weeks?

    But never, ever, ever, ever do they address the question of where that mass of ECB money is supposed to come from and how more debt and more funny money can “cure” problems caused by debt and funny money.

    A chill. Darned right.

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