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Thursday, June 2, 2011

Fractional Reserve Banking as Economic Parasitism

This is a 60 page read. One of the best reads I've had in the past many moons. Having a mathematical background I found this very interesting. We need to ways of explaining the parasitic economy and fractional reserve banking system that we are living in. Mathematics will give us solutions.

Take your time and give this a read. I spread it over 2 days.

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Fractional Reserve Banking as Economic Parasitism

A Scientific, Mathematical, & Historical Expos´e, Critique, and Manifesto

Vladimir Z. Nuri

http://www.lampsacus.com/documents/NuriParasitism.pdf


Abstract

This paper looks at the history of money and its modern form from a scientific and mathematical point of view. The approach here is to emphasize simplicity. A straightforward model and lgebraic formula for a large economy analogous to the ideal gas law of thermodynamics is roposed. It may be something like a new F = ma rule of the emerging econophysics field. Some mplications of the equation are outlined, derived, and proved. The phenomena of counterfeiting, inflation and deflation are analyzed for interrelations. Analogies of the economy to an ecosystem or energy system are advanced. The fundamental legitimacy of “expansion of the money supply” in particular is re-examined and challenged. From the hypotheses a major (admittedly radical) onclusion is that the modern international “fractional reserve banking system” is actually quivalent to legalized economic parasitism by private bankers. This is the case because, contrary to conventional wisdom, the proceeds of in- flation are not actually spendable by the state. Also possible are forms of “economic warfare” based on the principles. Alternative ystems are proposed to remediate this catastrophic flaw.

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