DiLorenzo’s Ignorance of the Cause of the 2008 Economic Meltdown & His Call for Only Currencies Issued by Private Banks

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Subject: DiLorenzo’s page 157 recommendation of only competing currencies issued by private banks
Date: 2024-06-20 09:42
From: ReadingLiberally-SaltLake@johnkarls.com
To: Participants in the 6/19/2024 Meeting

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Dear Friends,

During our final moments last evening, I was searching for DiLorenzo’s subject proposal.

And couldn’t find it in my outline because it was right behind DoLorenzo’s ignorance of what caused the 2008 Economic Meltdown – please see our 12/27/2017 letter to the Presidents of each of the 12 Regional Federal Reserve Banks on “Will The Federal Reserve Permit Another Economic Meltdown Caused By Supposedly ‘Offshore’ Funds Generated By U.S.-Based Multi-National Companies From Exporting American Jobs?” at viewtopic.php?f=23&t=1685&sid=58cd094f1 ... 29c2bcc13a.

Unfortunately, DiLorenzo’s subject proposal re only competing currencies issued by private banks was only 4 pages after his ignorance of the cause of the 2008 Economic Meltdown and I was frantically, before you all signed off, looking for his competing-currency idea in the portion of my notes dealing with subsequent chapters.

And you did all sign off without being asked to defend yet one more of DiLorenzo’s nutty ideas.

Some questions, in case any of you would like to try.

How is John Q. Public supposed to cope with shopping at his grocery store which uses Bank of America “Pesos,” then his pharmacy which uses Chase Bank “Pesetas,” then his hardware store which uses Wells Fargo “Shillings,” etc.?

Can John Q. Public even calculate in his head all of the exchange rates, and does he have to keep all those different currencies in his wallet since his grocery, pharmacy, and hardware stores are all likely to provide change in the currency each of them uses?

What’s to keep a Sam Bankman-Fried from stealing the $8 billion from one of these private banks and then actually disappearing to a foreign jurisdiction that has no extradition treaty with the U.S.?

Especially since DiLorenzo does NOT believe in governmental police forces? In other words, does each bank have to have its own police force to deter the Sam Bankman-Frieds of the world?

What about counterfeiters?

Etc., etc.?

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If anyone is brave enough to tackle these questions, I promise not to bombard her/him with more, though many are obvious.

Your friend,

John

PS – The ultimate Q -- was reading the book worth the risk of a stroke or heart attack???