Wednesday, September 17, 2008

Creditism (Mark Davis)

Mark Davis on true capitalism (or "savingism") as opposed to the fraudulent system we have today:

Capitalism is blamed whenever the economy inevitably contracts after an artificial boom caused by the creation of credit money. The boom and bust cycle is considered by most to be as natural as the tides. The ignorant media trumpet that irrational business people just go overboard for no other reason than pure human greed. So this willy-nilly, unfair system requires elite supervision! Capitalism is so wild and crazy that it must be caged by Marxist interventionist regulations. Oh, the irony. But wait, there has been a case of mistaken identity! Capitalism has already been caged, while its evil twin creditism has run amuck. We must free capitalism from its statist cage.

Marx coined the term capitalism as a derogatory term, but capital is just another word for savings. When capital is used purposely, we have capitalism. Invested capital leads to greater productivity and a more complex division of labor. Maybe if we called it savingism then more people could see the system of exchange and cooperation that spontaneously develops more clearly. This word better distinguishes the real system from its fraudulent step-brother. An economy built on savings, free-trade and secure property rights will grow based on the amount saved. An economy built on credit, central planning and fractional reserve banking will grow faster, but then collapse. Guess which type of economy we have today?

The imposter must be exposed and identified as such. The phony creditism must be revealed.

Read the rest


viagra online said...

I know the people blame capitalism but I think that it is quite unfair. Even Socialism is worst. It isn't the concept behind the problem is the execution that people try to get in top of other.

Anonymous said...

It seems this Morales person was writing about this stuff (and presenting it as professional conferences all over the place) way back in 2004 based upon papers he submitted for review in 2003?

Anonymous said...

Found this on:
This was taken from page three:

"Global Credit Economy"

"Creditism (Morales, 'Our Null Society': Creditism)
Cr-Cr*C - Cr *V - Cr *DI = Cr *VA
Looks like he was not only writing about creditism but published a formula as how it was done - and that way back in 2003.