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Mar 22, 2023Liked by Peter Nayland Kust

"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."

Which will it be, Mr. Powell?

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Jay Powell should give me a call. We need dynamic, market-driven Keynesian economic interventions of the following form: Banks borrow from the Fed at a lower rate and longer pay-back terms if they then lend to the consumers at a lower rate and better terms. Banks can decide their appetite for loans, and bank customers can shop. #FreeTheRate

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founding
Mar 22, 2023Liked by Peter Nayland Kust

One personal result of the past few years is that I’ve become a lot better at spying propaganda in the media, and boy, it’s been nothing but propaganda this past week about the banking crisis. Every adjective, every adverb, every innuendo has been ‘nothing to see here, no big deal, crisis averted’. The newspaper buries the articles on inner pages, and refers to the banking crisis in the past tense, as if there’s no possibility of more turmoil. The same media that practically screams about racial inequity and trans oppression talks soothingly about Credit Suisse going under, with less concern than if a local grocery store was closing.

Thank heavens for Substacks like yours, Mr Kust.

By the way, have you read Bad Cattitude’s Substack today?

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