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Friday, October 7, 2011

Wall Street protesters disgusted with both parties


SACRAMENTO, Calif. - Sacramento police arrested anti-Wall Street protesters early Friday morning.

The Sacramento Bee reports that police began arresting a group of about 19 protesters about 12:40 a.m. Friday.

After a series of warnings, police arrested the protesters one by one and brought them to nearby paddy wagons.

Police dispatchers told The Associated Press early Friday that they couldn't comment and spokespeople weren't immediately available.

The protest in support of Wall Street demonstrations in New York began in Sacramento Thursday with a rally that drew more than 500 people.The protesters on Wall Street shouldn’t be patronized. Though they may not be financial sophisticates and they don’t know how to articulate a coherent message, they are absolutely – unquestionably – intuitively correct in directing their protest against the banking system.

Conceptually and now practically, a fractionally-reserved lending system combined with an uncollateralized currency allows governments, central banks and private banks to issue infinite credit to themselves. Briefly, credit/debt is “when-issued” money; a dollar of credit today demands the creation of a dollar tomorrow.

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