We are developing the social individualist meta-context for the future. From the very serious to the extremely frivolous... lets see what is on the mind of the Samizdata people.
Samizdata, derived from Samizdat /n. - a system of clandestine publication of banned literature in the USSR [Russ.,= self-publishing house]
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Samizdata quote of the day – Tossery built upon ignorance Cash savings are not dead money – they’re the deposits that finance the banks’ loan books.
Tossery built upon ignorance. Richard Murphy – that Sage of Ely – is one of the few people in the country able to proffer up budget ideas even worse than the ones we’re going to get from Rachel this week.
– Tim Worstall
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Who Are We? The Samizdata people are a bunch of sinister and heavily armed globalist illuminati who seek to infect the entire world with the values of personal liberty and several property. Amongst our many crimes is a sense of humour and the intermittent use of British spelling.
We are also a varied group made up of social individualists, classical liberals, whigs, libertarians, extropians, futurists, ‘Porcupines’, Karl Popper fetishists, recovering neo-conservatives, crazed Ayn Rand worshipers, over-caffeinated Virginia Postrel devotees, witty Frédéric Bastiat wannabes, cypherpunks, minarchists, kritarchists and wild-eyed anarcho-capitalists from Britain, North America, Australia and Europe.
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I wish cash savings were the only source of bank lending – sadly Credit Money expansion (Credit Bubble blowing) is the vast majority of it.
However, I agree with Tim Worstall, the idea that savings are “dead money” is utterly false, Richard Murphy has managed to observe the current situation, which is horrific, and come up with a way of making it even WORSE.