The Use of ‘Toxic’
September 22, 2008
Funny how all the media decided to call overvalued bonds “toxic.” Not stupid, not reckless, not worthless, but poisonous. The implication is that the banks are somehow not at fault; they were poisoned.
Toxic comes from the Greek, meaning a poison into which arrows were dipped. It is the Fed’s boom, and the attempt to keep failing institutions in business through potential hyperinflation, that are poisoned arrows aimed at our freedom ahd prosperity. The shooters are the Fed, the Treasury, and the plutocracy. The response: the shield and buckler of liberty.
The Best of Llewellyn H. Rockwell, Jr.
Llewellyn H. Rockwell, Jr., former editorial assistant to Ludwig von Mises and congressional chief of staff to Ron Paul, is founder and chairman of the Mises Institute, executor for the estate of Murray N. Rothbard, and editor of LewRockwell.com. He is the author of Against the State and Against the Left. Follow him on Facebook and Twitter.
TWiT on the Bailout