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North West Libertarians

Friday, 16 January 2009

Yes, the banks are STILL insolvent.

Shhhh! don't mention the Fractional Reserve System.

http://www.telegraph.co.uk/finance/financetopics/recession/4250231/Financial-crisis-The-banks-are-still-sinking.html

Why is anyone surprised?


Posted by sound money man at 00:41
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Labels: bailout, fractional reserve system, insolvency

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THE VIEWS EXPRESSED ON THIS BLOG ARE THOSE OF THE CONTRIBUTORS AND DO NOT NECESSARILY REFLECT THOSE OF THE LIBERTARIAN PARTY AS A WHOLE.

For Life, Liberty and Prosperity

"The only part of the conduct of any one, for which he is amenable to society, is that which concerns others. In the part which merely concerns himself, his independence is, of right, absolute. Over himself, over his own body and mind, the individual is sovereign." John Stuart Mill

This is the alternative answer we need to the prevailing ideology of statism and authoritarianism - a rebirth of the classical liberal ideals that made our country one of the most successful nations on Earth.

This blog is run by current and former members of the Libertarian Party living in the counties of Cheshire, Cumbria, Greater Manchester, Lancashire and Merseyside. Unfortunately the Libertarian Party's assets are currently under the control of an unelected group who are acting without the authority of the National Coordinating Committee. Until that situation is resolved to the satisfaction of the Libertarian Party's membership and supporters, this blog will continue as an independent voice.


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