Posted on 05/19/2009 10:36:33 AM PDT by Pontiac
Maybe he thinks there was no fraction reserve banking while we were on the gold standard?
Perhaps not cropping my statement would be more honest Toddie. The statement was "When the banks can leverage by 10X the 'deposits' and loans" where the loans make up the bulk of the manufactured money, but hey, why address the point when you can attack the strawman? LOL
Anywayz you shill for a corrupt system and it's fun to coax it out of you.
Do you seriously believe the Treasury and the FED are not joined at the hip with regards to monetary policy? That they are somehow discrete entities that have no overlapping common interest?
the way bad banks were run under specie, hopefully they would be tipped off ahead of time and kegs of coins rushed to the bank being inspected. some kegs were full of nails or scrap with just a thin layer of coins on top. same money would then be rushed to the next bank, etc.
it is strange that in an increasingly precise system of measurement and standardization money itself seems less so. or not.
How does a bank do that? A $1000 deposit allows a $900 loan. Not a $10000 loan.
Do you seriously believe the Treasury and the FED are not joined at the hip with regards to monetary policy?
You were talking about loans your grandchildren will be repaying. Those would be TARP loans administered by the Treasury, not the Fed.
its none of my business really, but do you have/had a mortgage on a house?
Spoken like a good honest worker!
Of course we work for it, and yes it's vaporware. And as long as everybody closes their eyes and believes, no problemo compadre.
An alternative? How about honest oversight? Although I hate government involvement in any form, in the interim to sound fiscal policy, a temporary (read sun-setted) policy group that could dig into the real balance sheet of AIG et al would serve to restore confidence.
Obviously there's not enough gold or precious metal that's ever been mined in the history of the world to back our bloated 'currency' so something else will have to be done to restore the 'faith and credit' in the system.
Yes. Several. I currently own rental property too.
Not running from the conversation FRiends, gotta go teach a class. I’ll check back in 2 hours.
good. then you realize better than most, and I, certainly the efficacy of lower interest loans. in the good old days ya had to have half down to start, interest negotiated yearly, 7 year note say, and calleable anytime. Oh yeah, in gold of course. see where I’m going with that?
you bringup good points. in some ways oversight has or lack of it contributed to the problem. years ago robbing a smalltown bank meant a posse. don’t think that cannot return.
What?
They claim that the SEC should have "caught this" and therefore they want their millions back - meaning the taxpayers (you and me) should pay them - and these were rich Democrats being interviewed from million dollar living rooms in mansions on Palm Beach.
I am not joking.
I guess these former millionaires never heard the phrases; "Let the buyer beware” and “Due diligence “ in their world travels.
I guess Madoff should have put it in his prospectus that the SEC is not an insurer. If he had these idiots would have had better sense than to invest in a fund that had consistently ludicrously high returns.
Two hours? What planet??
Hmmn. OCD much? I checked back that night and saw no new reason to comment.
I thought you might appreciate how lending worked “in the good old days”, no need to call people names. How _does_ 50 per cent down sound to you on a 7 year mortgage? Thats how those evil banksters operated prior the government backing everything, and while it took a while look what happened. Utter collapse.
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