David and Diane:
Reading you two I kick myself for not having followed up with true faith and
scholarship my first reading of Pound back in 1950 and my stunned
recognition of economic truth. I am child of the Great Depression, and Pound
was the first person I had ever read who had a convincing explanation of
what was going on. Since then I have read Murray Rothbard, who gives the
whole Depression story in detail (book, The Great Depression) and many many
others, all unapproved by the Establishment, which regrettably is utterly
corrupt, especially the major media.
(I should include links but do not have the time, but Google should provide
Now more and more Pound looks entirely rehabilitated in the breaking news,
for those who can see. Not in his ad hominem stuff, for which he
apologized, but for his understanding of the world-shattering avarice which
throws the entire world into debt and war and is doing so most horribly at
Along the way, check out the von Misean school of "Austrian" economics.
Check out V. Gordon Childe's What Happened in History. Griffith's The
Creature from Jekyll Island, Eustace Mullins on the Federal Reserve. In
general, the web is alive today with stuff on the basic perversion of
economic life by way of fiat money and fractional reserve banking. Not much
will improve until that is history.
I disagree with Pound's expectation that govt. could run money well. Govt.
can't do anything well. Instead I would substitute the libertarian concept
of anarcho-capitalism, with the essential underpinning being a money that is
not created as debt but is arrived at through market processes entirely
uncontrolled by govt. (Keep in mind that most mentions of free trade really
mean govt.-managed trade; this distinction is of the first importance.)
Anarcho-capitalism means REALLY free trade.
All for now. I have sworn I am not going to get into lengthy correspondence
on this stuff what with other needs for my vanishing time, but I could not
resist this much. Hope it gets through. I get the list mailings but think I
may have relinquished my right to post. Anyway here goes: hit send! Tom