madam president the modern world economy is based on a gigantic pyramid of debts the debts of states banks corporations and companies
the debts are interrelated with one another
the structural defects of the economic system we have been experiencing and the market economy system that is distorted are basically combined with a money credit system
the defective functioning of the economy results from linking the system of creating money with credit
maurice allais compared it to a cancer which relentlessly eats away the capitalist economy
this system provides for the creation of the purchasing power with no real equivalent
serious reforms of the banking and financial systems need therefore to be implemented
the tax system needs to be reformed and the way that stock exchanges work needs to be changed as well
as regards the plan to patch up gaps in the financial crunch by means of money injections they are apparently going on in my country too i think one may put it where the moon does not shine
