Smashing The Big Banks: Only The First Step
by Jeff Nielson
Bullion Bulls Canada
It was encouraging to see a recent article in the N.Y. Times arguing for the necessity of smashing the Big Bank Oligopoly in the U.S. Apparently not everyone has forgotten the basic fundamentals of economics.
Going all the way back to Adam Smith; all the economic theorists have acknowledged a central premise of capitalism: oligopolies (and/or monopolies) are predatory, parasitic abominations which can never be allowed to evolve in our economies. Or, as I put more succinctly in a previous commentary, “too big to fail = too big to exist.”
This premise is so self-evident that it should not even require elaboration. Yet the fact that these Vampire Banks not only exist but continue to grow shows that this simple truth is still not grasped by more than a small fraction of the population.
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2012-12-17 07:41:44
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