What a great quote:
“There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.”
and the gov't is too proud/corrupt/etc. to do the formal, so it's all but guaranteed that the latter has to happen: it's just math now.
What a great quote:
>“There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.”
and the gov't is too proud/corrupt/etc. to do the formal, so it's all but guaranteed that the latter has to happen: it's just math now.
(post is archived)