Posted on 09/19/2017 7:24:05 PM PDT by Tolerance Sucks Rocks
Its nice work, if you can get it.
I guess. Luckily we don’t need them very often.
We don't need them at all. They should be hanged for crimes against humanity.
Did much better since 2008.
Screwed up with Russian default, Tech-bubble, housing too
But its the nature of all Central Banks. They are agents of government and the powerful, to protect their interests.
In the USA the maintain the pretense of independence. In China, they just do what the Party and Government tell them
The result is the same though.
How so?
But its the nature of all Central Banks. They are agents of government and the powerful, to protect their interests.
I agree, it's not in the interest of the government and the powerful to have the banking system crumble in a financial panic. Of course a banking system meltdown sucks for regular people too.
I considered that a year ago when he started spouting off about our monetary system in which he doesn’t have the foggiest idea on how it operates, and I think you are right which is why I didn’t respond to him, but he did respond to my post?? Paid Schill for the Money Changers.
You make the false assumption that central banks can prevent or mitigate financial panics
How did that compare to 2008-2010?
Why is it the Fed’s job to prevent banks from failing?
According to the Fed itself, the number of commercial banks in the USA declined by 20% from 1920-29 anyway.
Besides, is there a government / private agency to prevent computer companies, railroads, or any other business from failing?
A private central bank issuing a public currency is a greater menace to the liberties of the people than a standing army... We must not let our rulers load us with perpetual debt. We must make our election between economy and liberty or profusion and servitude. If we run into such debt, as that we must be taxed in our meat and in our drink, in our necessaries and our comforts, in our labors and our amusements, for our calling and our creeds...[we will] have no time to think, no means of calling our miss-managers to account but be glad to obtain subsistence by hiring ourselves to rivet their chains on the necks of our fellow-sufferers... And this is the tendency of all human governments. A departure from principle in one instance becomes a precedent for [another]... till the bulk of society is reduced to be mere automatons of misery... And the fore-horse of this frightful team is public debt. Taxation follows that, and in its train wretchedness and oppression.
~ Thomas Jefferson
Depends. Why are the banks failing?
Besides, is there a government / private agency to prevent computer companies, railroads, or any other business from failing?
I can't think of one.
It's a good thing we don't have that.
We must not let our rulers load us with perpetual debt.
I agree, the debt is way too high, they spend way too much on way too much.
“More tariffs and less income taxes. “
Goods from OPEC & China need tariffs immediately.
A uniform tariff would be better.
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