What we are unfortunately seeing is that the IMF and Fabian/Keynesian Fascist activists have seized on the idea of demonizing bankers so they can argue for complete control over the financial system. Fractional reserve banking is bad. We can agree on that. But their solutions are worse, MUCH worse.
Only with prior inflation to eradicate public and private debt can gradual deflation be anything but catastrophic.
Folks, you don’t know me from Adam, but I HAVE A PROPOSAL THAT ADDRESSES EVERYTHING. I post it often, but get little response. I am a University of Chicago Alumni, and have thought the damn thing through in a way none of these dumbass academic economists have. They can’t be creative because it is trained out of them in school.
Please read this: http://www.goodnessmovement.com/Page23.html
Read it all the way through. If you start with the fix, you likely won’t understand the problems it addresses. It uses plain English, basic facts, common sense analysis, and offers sweeping and unique proposals.
What the IMF is doing here, to be clear, is trying to draw support for a proposal which furthers the Keynesian/Fabian ends of bureaucratic control of all aspects of our lives; at least that is my assumption. What I have read thus far is big worded gobbledygook, which is ALWAYS trying to either hide an actual intention, or a lack of intellectual clarity.
In conditions of massive debt, though, I will submit that gradual deflation is ALWAYS ALWAYS ALWAYS a bad thing. It is what started the Great Depression.
Please, read my piece. It will enlighten you.