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The name of the game is differential accumulation. As wealth becomes more and more concentrated not only will the economy further be strangled, but I can even imagine a scenario where, with so much of the asset base in the hands of the few, it becomes favorable to their interests to destroy the monetary system so as to facilitate even further looting. It will never be necessary to do so, but it might become desirable to some. It would recapitulate the Morgan Bank's actions in the 1870s in withdrawing gold from circulation after they had gotten the US back on the gold standard. That greatly facilitated their wealth consolidation by enabling them to foreclose on so many to whom they had made loans, capturing not only much of the money loaned but also the asset which secured the loan and most of the increased value the borrowers had added to the enterprises.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Sat Dec 22nd, 2012 at 03:28:19 PM EST
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