China’s Creative Accountants

China’s Creative Accountants
PublicBankingTV • January 9, 2011

How publicly owned banks benefit the commonwealth instead of a few private financiers and what it means for you and me.

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One Response

  1. Is it possible that you guys are missing a “few minor details”? Such as the fact that the Chinese are NOT running a trade or current account deficit but heavy surpluses instead? Or the fact that the Chinese are investing government money in productive ways – instead of wasting it for consumption and welfare?

    Get real: In the long run, one can spend only what has been earned – that applies to consumers as well as whole nations. Printing money is NEVER a solution, no matter who does it. The Chinese are not printing money, they are producing goods. The U.S. has to do the very same thing. Taking the job of creating fraudulent money from party A (the Fed) and giving it to party B (government-owned banks) doesn’t change a thing.

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