Tom:

nice to read your article.


Hongguang Bi


> 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
> them easily.)
>
> 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
> the moment.
>
> 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
> White