Quotes

"Fascism and communism both promise "social welfare," "social justice," and "fairness" to justify authoritarian means and extensive arbitrary and discretionary governmental powers." - F. A. Hayek"

"Life is a Bungling process and in no way educational." in James M. Cain

Jean Giraudoux who first said, “Only the mediocre are always at their best.”

If you have ten thousand regulations, you destroy all respect for the law. Sir Winston Churchill

"summum ius summa iniuria" ("More laws, more injustice.") Cicero

As Christopher Hitchens once put it, “The essence of tyranny is not iron law; it is capricious law.”

"Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it." Ronald Reagan

"Law is where you buy it." Raymond Chandler

"Why did God make so many damn fools and Democrats?" Clarence Day

"If I feel like feeding squirrels to the nuts, this is the place for it." - Cluny Brown

"Oh, pshaw! When yu' can't have what you choose, yu' just choose what you have." Owen Wister "The Virginian"

Oscar Wilde said about the death scene in Little Nell, you would have to have a heart of stone not to laugh.

Thomas More's definition of government as "a conspiracy of rich men procuring their own commodities under the name and title of a commonwealth.” ~ Winston S. Churchill, A History of the English Speaking Peoples

“Laws are like cobwebs, which may catch small flies, but let wasps and hornets break through.” ~ Jonathon Swift

Sunday, January 8, 2012

RentenMark was similar in 1923, this could help with less central planning and social programs. Greece to 'sell bonds backed by state property'

With Hyper-inflated Currency sinking the economic hope for the Weimar Republic, the Rentenmark was introduced in October 1923 to replace the inflated Post War Deutsche Mark. This plan was instituted in part by Hjalmar Schacht, the Currency Commissioner and President of the Reichsbank under the Weimar Republic. The introduction of the Rentenmark was a new currency. Its value was based on a mortgage on all of the properties in Germany. This economic policy stemmed Germany's inflation and stabilize the German mark. ♘


Greece to 'sell bonds backed by state property'
Jan 7- 12 US/Eastern
Crisis-hit Greece plans to sell bonds with state property as collateral to buy back sovereign debt and postpone a privatisation drive under unfavourable market conditions, a report said on Saturday.

To Vima weekly said the Hellenic state asset development fund, an agency set up last year to manage Greece's asset sales, plans to create a privatisation bond to buy back part of the country's enormous debt on the secondary market.

For every one billion euros earned by the planned bond, the state will be able to buy back older debt worth 2.5 billion euros given the currently depressed value of Greek debt, unnamed agency officials told the newspaper.

Greek state debt, which has exploded to over 350 billion euros ($447 billion), is currently trading up to 35 percent below its face value, To Vima said.

Athens last year pledged a sweeping privatisation drive in return for bailout loans from the European Union and the International Monetary Fund.

-more at links-

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