Kev, keep in mind that there are thousands who work in finance; none of whom would be impressed, to put it mildly, by your Continuous Repetitive Acronym Phenomenon.

Anyone with a half a brain will ignore rantings that touch upon a million topics. What you bombastically describe as a statement that is “compressed to the point where nearly every single sentence contains a whole volume’s worth of facts” is, quite simply, useless.

Also, ciccio, concerning the central banks’ power to raise interests, the spinner is in lowering those rates for their banks to re-lend at much higher rates. Raising interest rates in the past was just part of the ‘business cycle’ ploy… you know, like raising sheep and shearing them once in a while.

Last sentence: ‘death’ should read ‘debt’ of course – quite a Freudian slip, that…

How predictable you are ciccio. But that’s the Catch 22 element you’re talking about, isn’t it?

The crisis had its beginnings precisely when money ceased to be money and became fiat paper money (see Bretton Woods I and II). The corruptibility of politicians became easier when central banks could print money at whim. But the more autonomy were the central bankers given, the more power they exerted over those same incompetent politicians ever in need of money to bribe the people with what we call ‘re-distribution’ of ‘wealth’.

And now, what has long been foreseen has happened.

But keep your eyes on the ball before parroting that mainstream bull: the trillions that the central banks pump out, including those nasty ‘bailouts’, go straight into commercial banks – and that’s where the spinner is – and also where the unpayable soverign debts emerge from.

You say, “These are economic and market issues, not democratic issues.” Yes, ciccio, these are market issues, so why do central banks mess about with interest rates when it is the market that should be establishing that – and that works organically when you have sound money.

You yourself mentioned the ‘power of central bankers to raise interest rates’. That dabbling is only a part of the Ponzi scheme. If money is to be printed, then let the treasury print it debt-free, but if we want to prevent the erosion of the middle class, then we need sound money – the type no banker or treasury can dabble with.

This is a very short answer ciccio. I understand your perspective clearly, for I live in the same world. I, however, see beyond your illusion and it’s never easy to explain it in a way that you may understand since there are too many branches to go through.

Enslaving whole nations through death is as old as the Bible, ciccio. That’s why you live in the land of Pollyanna.

Not a bad retort, Kevvy. However, you tipped your hand by obliquely referring to your dishwashing duties. That must truly be a downer. Such a brilliant mind reduced to such a mundane duty.

BTW, Piscopo is handing out free Kinnie aprons and I’ve saved one for you. They’re really nice, and I think it will go so well with your reddish complexion.

Kev, you say “just remove democratic control over monetary policy and manage the slaves super-centrally…”

Let’s be honest with the truth and talk about basic concepts without making them seem too complex, like you do.

Since when is monetary policy one to be controlled democratically?

Central banks are expected to be autonomous institutions that deal with money, its issue, its control and its price (interest rates). These are economic and market issues, not democratic issues.

It is precisely because of the democratic control – i.e. the political interference of governments with the ability of central bankers to raise interest rates in the early part of the 2000s that the world experienced the financial crisis.
Governments were happy to see ‘economic expansion’ and new house affordability through mortgages at low interest rates. So no political pressure was put on central bankers to raise interest rates when the bubble was developing.

I love it when the REAL Purdie emerges from within that inspiringly mundane genius who’s proved to be not only Nosebook’s finest applauder, but its brightest flatterer and surely the most eloquent joker in the dishwashing category.

Let s keep it civil please.

. I think you re a conservative prickkkkkkkkk

Anna Caruana, you seem to think I’m some Nazzjonalist imgiddem. I’m not. I hate socialism, and PN is getting more socialist by the minute.

Yes, PN is squandering money in an inefficient way. By inefficient I mean handing it out to those who contribute nothing to the economy and who weigh down the nation. Or spending it on useless projects to create jobs in the construction industry and keep the bazuzli happy.

But the biggest chunk of government spending (look at the figures) is wasted on free health care and stipends, the two pillars of socialist evil in Malta. Both of which Labour has promised not only to keep, but to strengthen.

In other words, Labour will be just as wasteful as PN, with the addition of subsidies on utility rates, which it has foolishly promised to lower. They need to be RAISED, not lowered.

Between socialism (PN) and greater socialism without a plan (MLP), I choose PN. Holding my nose of course, but I still choose PN.

Kevvy, you are beginning to sound like Franco Debono in drag. Self-serving, plagiarized meanderings, hiding behind a skirt.