Kucinich has gone insane

[sobmaz]

[quote=Eugene][quote=patb]Nationalize the fed. Excellent

Creates new money? A change over forces hidden cash to be explained.

Ends fractional reserve lending? The tea baggers should be thrilled.[/quote]

I should clarify that he wants to ban ALL lending (or at least make lending the sovereign right of the federal government). To quote, “Any person who creates or originates United States money by lending against deposits, through so-called fractional reserve banking, or by any other means, after the effective date shall be fined under title 18, United States Code, imprisoned for not more than 5 years, or both.”

So that pretty much means shutting down or nationalizing all banks, credit unions, mortgage lenders, etc. etc.[/quote]

How would that shut down all banks and credit unions?

It clearly states that you can not do lending via the “so called fractional reserve banking”. It doesn’t say you CANT lend!

All that means is they can’t receive 1.00 on deposit and then lend out 6.00 and collect interest on 6 based upon the 1.00 deposit, as the current “fractional lending system allows”.

It might do some good for a bank to take in 1.00 in deposits and only loan out 1.00. It might encourage them to pay depositors more interest to attract more deposits. It might encourage them to be more selective about lending money to only those who might be able to pay it back.

Lax lending destroyed our economy.

Exactly how is revamping a banking industry that has gotten a free ride and screwed the American public, GOING BONKERS?

[sobmaz]

[quote=briansd1]Sure, Dennis sees the writing on the wall; and he does care about the people.

But does he care about the people of the today or the people of the future? It makes a difference because the people of today need to cut back so that the people of the future may live better.

Any credit system is based on front loading the present and borrowing from the future. As long as that works, we will borrow more and more from the future until the system collapses. Who knows when that time will come?

Dennis wants us to live sustainably. Even if he’s successful in convincing Americans, it won’t last long. If Americans didn’t have access to easy credit, our standard of living (the products and services we can purchase) would quickly drop. Soon, other countries where credit is widely available (because not all countries would follow the Kucinich model) would surpass us and we would wonder what’s wrong with our political system.

My prediction is that when the current credit-based regime collapses, another one will takes its place. The power players will be different.

The mortgage business is a good illustration. If mortgage were extremely hard to get, people would live “in poverty”, more simply, in small houses. The economy would not be as strong because all the jobs to support housing would not exist.

Households would save to payoff their houses and future generations would not inherit debts. Over the long run (hundreds of years), that’s a better system.

But who is willing to make the sacrifices today for a future they will never live to see?[/quote]

Wow…..

Spot on and well said.

[sobmaz]

[quote=briansd1]Sure, Dennis sees the writing on the wall; and he does care about the people.

But does he care about the people of the today or the people of the future? It makes a difference because the people of today need to cut back so that the people of the future may live better.

Any credit system is based on front loading the present and borrowing from the future. As long as that works, we will borrow more and more from the future until the system collapses. Who knows when that time will come?

Dennis wants us to live sustainably. Even if he’s successful in convincing Americans, it won’t last long. If Americans didn’t have access to easy credit, our standard of living (the products and services we can purchase) would quickly drop. Soon, other countries where credit is widely available (because not all countries would follow the Kucinich model) would surpass us and we would wonder what’s wrong with our political system.

My prediction is that when the current credit-based regime collapses, another one will takes its place. The power players will be different.

The mortgage business is a good illustration. If mortgage were extremely hard to get, people would live “in poverty”, more simply, in small houses. The economy would not be as strong because all the jobs to support housing would not exist.

Households would save to payoff their houses and future generations would not inherit debts. Over the long run (hundreds of years), that’s a better system.

But who is willing to make the sacrifices today for a future they will never live to see?[/quote]

Wow…..

Spot on and well said.

[sobmaz]

[quote=briansd1]Sure, Dennis sees the writing on the wall; and he does care about the people.

But does he care about the people of the today or the people of the future? It makes a difference because the people of today need to cut back so that the people of the future may live better.

Any credit system is based on front loading the present and borrowing from the future. As long as that works, we will borrow more and more from the future until the system collapses. Who knows when that time will come?

Dennis wants us to live sustainably. Even if he’s successful in convincing Americans, it won’t last long. If Americans didn’t have access to easy credit, our standard of living (the products and services we can purchase) would quickly drop. Soon, other countries where credit is widely available (because not all countries would follow the Kucinich model) would surpass us and we would wonder what’s wrong with our political system.

My prediction is that when the current credit-based regime collapses, another one will takes its place. The power players will be different.

The mortgage business is a good illustration. If mortgage were extremely hard to get, people would live “in poverty”, more simply, in small houses. The economy would not be as strong because all the jobs to support housing would not exist.

Households would save to payoff their houses and future generations would not inherit debts. Over the long run (hundreds of years), that’s a better system.

But who is willing to make the sacrifices today for a future they will never live to see?[/quote]

Wow…..

Spot on and well said.

[sobmaz]

[quote=briansd1]Sure, Dennis sees the writing on the wall; and he does care about the people.

But does he care about the people of the today or the people of the future? It makes a difference because the people of today need to cut back so that the people of the future may live better.

Any credit system is based on front loading the present and borrowing from the future. As long as that works, we will borrow more and more from the future until the system collapses. Who knows when that time will come?

Dennis wants us to live sustainably. Even if he’s successful in convincing Americans, it won’t last long. If Americans didn’t have access to easy credit, our standard of living (the products and services we can purchase) would quickly drop. Soon, other countries where credit is widely available (because not all countries would follow the Kucinich model) would surpass us and we would wonder what’s wrong with our political system.

My prediction is that when the current credit-based regime collapses, another one will takes its place. The power players will be different.

The mortgage business is a good illustration. If mortgage were extremely hard to get, people would live “in poverty”, more simply, in small houses. The economy would not be as strong because all the jobs to support housing would not exist.

Households would save to payoff their houses and future generations would not inherit debts. Over the long run (hundreds of years), that’s a better system.

But who is willing to make the sacrifices today for a future they will never live to see?[/quote]

Wow…..

Spot on and well said.

[sobmaz]

[quote=briansd1]Sure, Dennis sees the writing on the wall; and he does care about the people.

But does he care about the people of the today or the people of the future? It makes a difference because the people of today need to cut back so that the people of the future may live better.

Any credit system is based on front loading the present and borrowing from the future. As long as that works, we will borrow more and more from the future until the system collapses. Who knows when that time will come?

Dennis wants us to live sustainably. Even if he’s successful in convincing Americans, it won’t last long. If Americans didn’t have access to easy credit, our standard of living (the products and services we can purchase) would quickly drop. Soon, other countries where credit is widely available (because not all countries would follow the Kucinich model) would surpass us and we would wonder what’s wrong with our political system.

My prediction is that when the current credit-based regime collapses, another one will takes its place. The power players will be different.

The mortgage business is a good illustration. If mortgage were extremely hard to get, people would live “in poverty”, more simply, in small houses. The economy would not be as strong because all the jobs to support housing would not exist.

Households would save to payoff their houses and future generations would not inherit debts. Over the long run (hundreds of years), that’s a better system.

But who is willing to make the sacrifices today for a future they will never live to see?[/quote]

Wow…..

Spot on and well said.

[Author]

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