Open Letter to Warren Buffett
Posted by Ivo Cerckel on May 29th, 2010
Dear Mr Buffett,
You have been issued with a subpoena to force you to appear before a government panel in Washington examining the causes of the 2008 financial crisis.
Tell them that the crisis is due to the frauds of irredeemable, at least unbacked, paper money and of fractional-reserve banksterism.
Refer to page 45 of your 2008 biography “The Snowball” by Alice Schroeder (Bantam Books} where it is being demonstrated that after going off the “gold standard” in September 1931, England, – which was deeply in debt – would, to avoid bankruptcy, simply print more money to pay off its loans.
A footnote on the same page adds that the “gold standard” stopped the government from provoking inflation simply by printing money.
Tell the government panel in Washington examining the causes of the 2008 financial crisisthat the flaws that could be remedied through reforms are,
ONE, preventing government from creating money out of thin air through the (digital) printing machine
TWO, preventing commercial banksters from doing the same thing through fractional-reserve banksterism.
They may ask you how the banksterism system can ever get into problems if it can create money of out thin air through fractional-reserve banksterism.
I don’t know the answer to this question.
Good luck!
Warmest regards,
Ivo Cerckel
From Times Online
May 29, 2010
Warren Buffett subpoenaed to appear before US commission
Alexandra Frean
http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article7139615.ece