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REAL WORLD EVENT DISCUSSIONS
The best (short!) discussion of money, debt, fractional reserve banking, and you. Evar.
Sunday, July 17, 2016 10:46 PM
SIGNYM
I believe in solving problems, not sharing them.
Monday, July 18, 2016 1:38 AM
WISHIMAY
Monday, July 18, 2016 2:33 AM
Tuesday, July 19, 2016 7:06 AM
Tuesday, July 19, 2016 8:14 AM
Quote:Sorry, only saw a minute. Laughable at best - thx. Like Wish said, old news. It's like when you find out your parents are real people. I am always amused by the irony of angry people who are jealous of anyone with money and yet say it is the root of all evil.
Tuesday, July 19, 2016 2:21 PM
THGRRI
Tuesday, July 19, 2016 4:45 PM
SECOND
The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at https://www.mediafire.com/two
Wednesday, July 20, 2016 5:27 AM
Quote:Watched it all - I should have listened to myself. It's sad that you can't recognize that so much of this is old
Quote:and that many of us
Quote: - not just you - have heard it all before. It's 90's coffee shop blathering (it's quite a bit older than that even).
Quote:What describes you, is you actually buy into it. You buy the package and don't question the content. You don't even realize that you have been duped by the same kind of shiny marketing that is used to sell knobs and widgets to people who you look down upon.
Quote:So yeah, you understand how banks work
Quote:Now what's you alternative?
Quote:I see you dodged that question, naturally.
Quote:You pay cash for your house or get a loan? Either way, according to your video, you are using fancy air puff BANK money. OMG, we're all doomed! That's the world, honey.
Wednesday, July 20, 2016 5:31 AM
Quote:If you caught the first day of Trumps convention ...= THUGR
Wednesday, July 27, 2016 10:22 AM
Wednesday, July 27, 2016 11:23 AM
Quote:Originally posted by SIGNYM: One obvious solution is to get rid of fractional reserve banking. I just thought I'd let this marinade for a while and see if anyone noticed that it was right in the video itself.
Saturday, July 30, 2016 7:15 AM
Quote:Fractional-reserve banking refers to a banking system where the bank holds a fraction of the demand deposits it receives, and loans out the rest
Saturday, July 30, 2016 7:25 AM
Quote:Originally posted by G: Quote:Originally posted by SIGNYM: One obvious solution is to get rid of fractional reserve banking. We could also just make everything free. And no school. Ever. And have tacos and cake every Friday.
Quote:Originally posted by SIGNYM: One obvious solution is to get rid of fractional reserve banking.
Saturday, July 30, 2016 9:16 AM
Quote:Originally posted by SIGNYM: Fractional reserve banking means that banks loan out MORE THAN NINE TIMES MORE THAN WHAT THEY HAVE ON DEPOSIT. . . . Well, we COULD start by limiting the amount of money lent out on a certain capital base, or conversely, as usually expressed: requiring greater capital (Tier One capital) reserves. Instead of allowing only a 10% Tier One capital, you could require (say) 25%.
Saturday, July 30, 2016 9:28 AM
Quote:Fractional reserve banking means that banks loan out MORE THAN NINE TIMES MORE THAN WHAT THEY HAVE ON DEPOSIT. ... Well, we COULD start by limiting the amount of money lent out on a certain capital base, or conversely, as usually expressed: requiring greater capital (Tier One capital) reserves. Instead of allowing only a 10% Tier One capital, you could require (say) 25%. -SIGNY But with "(say) 25%" the banks loan out MORE THAN FOUR TIMES MORE THAN WHAT THEY HAVE ON DEPOSIT. Are you anxious at 4 as you were with 9? Why are you not feeling anxious at 4?- SECOND
Saturday, July 30, 2016 11:43 AM
Quote:Originally posted by SIGNYM: To answer your question, the goal, at least as far as I'm concerned, would be to eventually require 100% reserve.
Saturday, July 30, 2016 12:33 PM
JO753
rezident owtsidr
Saturday, July 30, 2016 1:06 PM
Quote:Originally posted by second: Quote:Originally posted by SIGNYM: To answer your question, the goal, at least as far as I'm concerned, would be to eventually require 100% reserve. There is about $1.2 trillion dollars of U.S. currency in circulation. www.newyorkfed.org/aboutthefed/fedpoint/fed01.html I see that household debt outstanding was $14.3 trillion at the end of the first quarter of 2016. Nonfinancial business debt was $13.0 trillion. Non-financial debt is debt owed by any corporation that is NOT in the financial sector. www.federalreserve.gov/releases/z1/current/z1.pdf Did you notice that $1.2 trillion in currency is less than outstanding debts of $27.3 trillion? You cannot move the bank reserve from 10% to 100% without many old loans being paid back and very few new loans being made. Obviously it will take a few years to get to 100%. Obviously, with fewer loans the economy will have to shrink, too. Since Federal Reserve says that the net worth of households and nonprofits was $88.1 trillion, I think you can figure out how much shrinkage there will be. If you think the economy would not shrink because of your commitment to 100% bank reserves, you would not be correct. I keep forgetting to give tangible examples for Signym. If banks make very few loans because they need 100% reserves, some people won't be getting car loans and mortgages and new furniture. Those sad people will have to save their incomes until they have 100% cash to buy. Homes and cars and furniture won't be built until the cash is paid. The economy will have to shrink.
Saturday, July 30, 2016 1:13 PM
Quote:Originally posted by JO753: Money iz an invention. Like many inventionz, it got turned into a wepon.
Saturday, July 30, 2016 1:25 PM
Quote:Originally posted by SIGNYM: If you think THAT'S bad, just consider that the derivatives market, always priced in USD, is somewhere in the realm of 6 to 10 X the WORLD GDP. That's why people keep saying that our system is a house of cards. We should not be surprised when it experiences significant crashes from time to time, and catastrophic ones every now and again. Do we really want to continue on this way? Or should we be thinking about ways to rein in not only the power of the banks but the instability that our financial system is based on?
Saturday, July 30, 2016 6:42 PM
1KIKI
Goodbye, kind world (George Monbiot) - In common with all those generations which have contemplated catastrophe, we appear to be incapable of understanding what confronts us.
Quote:It has already been figured out,
Quote: but government just won't do it because they will have to hurt the rich. The rich start whining and the poor give in or ... people like SECOND and GSTRING... decide to be passive and defend the status quo.
Sunday, July 31, 2016 2:27 PM
Monday, August 1, 2016 3:27 AM
Monday, August 1, 2016 10:42 AM
Monday, August 1, 2016 4:38 PM
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