That whenever any form of Government becomes destructive of those ends, it is the right of the People to alter or abolish it and to institute new Government.
Thursday, February 25, 2010
The mandatory Darius Guppy post
Now, I see Guppy has been in The Telegraph. The thing is, um... that is... eyes feel heavy... I ...
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Hmmm? What? Ah. Sorry. I must have dozed off and fallen face first into the keyboard.
It was amusing seeing him discover fractional reserve banking really. All that "not mentioned anywhere" when it's part of every textbook and appears in the A level syllabus.
I only glanced at his piece, but yes it was very funny. Unless I skimmed too fast, he seemed to completely misunderstand this fiendishly hidden banking system. Banks can lend £90 for every £10 on deposit? Um... only out by a complete order of magnitude there, Darren.
It was amusing seeing him discover fractional reserve banking really. All that "not mentioned anywhere" when it's part of every textbook and appears in the A level syllabus.
ReplyDeleteI only glanced at his piece, but yes it was very funny. Unless I skimmed too fast, he seemed to completely misunderstand this fiendishly hidden banking system. Banks can lend £90 for every £10 on deposit? Um... only out by a complete order of magnitude there, Darren.
ReplyDelete