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Famed Economics Authority Nicholas Buckner Comments on Gross Economic Misunderstandings
april 8, 2013

Famed Economics Authority Nicholas Buckner Comments on Gross Economic Misunderstandings (April 8, 2013)

Subject: Gross economic misunderstanding
From: buck9ers
Date: Mon, April 8, 2013
To: Ken Adachi


I am concerned about your economics page, it has some very wrong ideas. Firstly, you argue that all the money is reduced by interest. For every financial asset there is a financial liability and this is true of banking, the depositors and shareholders get the exact amount of interest received. Secondly, you degrade fractional-reserve banking as wrong, it is merely the conversion of longer term debt (bonds, mortgages, derivatives) into short-term debt (money). Thirdly, you argue that developing countries are reliant on imports with free-trade. The precise opposite is true, they are reliant on exports. Fourthly, taxes were not introduced to fund debt, they are introduced to fund government. Also, government debt funds investment, it need not invest if it does not want to, and its bonds need not go to banks, it can pretty much pay its workers in treasury bills (UK gilts).

Consider taking a course in something before you write about it or allow it to be wrote.

Nicholas Buckner



I'm not interested in reading anything you have to say.

Save your erudite comments for someone who is willing to tolerate your rudeness, your atrocious grammar, your inability to identify me by name, your inability to recognize who wrote the article to which your trite and bloated opinions allude.

In short, don't write to me again.

Ken Adachi

PS: I don't have an "economics page" either, you twit.

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