I will start by asking my Readers to read this link, along with both the Cowen link and the Kling link. I literally cannot find any Creditanstalt. It is simply the old Banker Shell Game of people getting the Money when they pay enough Interest on the money, so that the Bankers are willing to play. Here is the interesting Side-Bet on the old Shell Game: if the Governments only raised more tax revenues, the Bankers would concede; they knowing that they will never get the higher Interest rates. The Governments realize, but do nothing about, the fact that what they need is higher taxes. The later would pay for the Government services which the citizenry demand, and would only cost the End-Game Consumer with higher Prices; something they will have to pay anyway, if the currency dilution plans are carried forward.
The Great Recession is much different from the Great Depression. Then, we had a vast overstock of Inventories without Consumers. We have a shortage of Production and a vast fund of Credit in the Great Recession; the problem here being How to repay all those Credit instruments at every level considering the limited Production dictated by both Business and Consumer. Keynes made a great Argument for Government fueling Recovery from the Great Depression through getting funds to the Consumer and Business. But will the same formula work for the Great Recession?
The answer to that is No! We have to make both Business and Consumer work harder to attain the Product and Profits that they want. Here is where I really make enemies! The only sound way to do this is by raising Taxes. I have chosen the most innocuous manner to do this that I can find, which happens to be a uniform tariff on Trade of 6%. It both raises tax revenues to hold off the Bankers, only makes Business Operating Costs uniformly higher–No Gain–No Foul–everyone stuck with the same marketing structure, and Consumers simply paying the higher Prices which they will have to pay anyway; the kicker being that their Money is still worth something in the long-run. People will scream that it will reduce Trade when it will only reduce Trade volume; can I plant a Yippe-Ki-Yah here? It would actually be quite beneficial to lower Port facility transfer volume by 20%, reduce the ships on the high seas by 12%, and reduce Transport fuel volume by some 20%; again, a little Secret, the worst polluting fuel existent. lgl