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When dollar falls, European exporters count their bruises
LA Times ^
| 17 November 2007
| Geraldine Baum
Posted on 11/17/2007 10:16:45 AM PST by shrinkermd
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To: dollarbull; Fan of Fiat
Borrowing and lending (or lending your own capital) isn't evil.Excellent!
From previous discussions, I know that you know how fractional reserve lending works - i.e. that the banking system creates money out of thin air and then lends it out to "earn" interest.
And each individual bank lends out less than their deposits, so who is leaching and how?
By creating credit and then charging interest on it, they are extracting wealth from society in the exact same way that a counterfeiter would.
A bank takes in deposits of $1,000,000 and pays interest. They must hold some as a reserve and can lend out the rest. You'll have to show me how that is like counterfeiting.
You can hold $US, CAD, CHF, Euros, gold and silver there. There is no fractional reserve lending.
Wow, there is a place where I can deposit my money and earn no interest? How much do they charge?
381
posted on
06/26/2008 4:19:20 PM PDT
by
Toddsterpatriot
(Why are doom and gloomers, union members and liberals so bad at math?)
To: A Strict Constructionist
A devalued dollar is not all bad. Unless your a tourist. Or if you buy anything from overseas... ( ummmm, that would include every TV set on the market - and just about everything else.
382
posted on
06/26/2008 4:23:21 PM PDT
by
GOPJ
(Hypocrisy doesnÂ’t apply to liberals. (according to the MSM) FreeperProud2BeRight)
To: Toddsterpatriot
Wow, there is a place where I can deposit my money and earn no interest? How much do they charge?
Todd, I know you're smarter than that. Dig a little deeper. Do you think earning 3% on a savings account while inflation is over 10% is a good deal? It's a great deal for the bank, they get to pyramid loans off your deposit - you pay for it with higher inflation. How much gasoline/corn/healthcare/etc does your savings account buy now vs. 2 years ago?
To: dollarbull
Todd, I know you're smarter than that.It's true, I'm too smart to pay someone to hold my money.
Do you think earning 3% on a savings account while inflation is over 10% is a good deal?
Better than paying 1% while inflation is over 10%.
It's a great deal for the bank, they get to pyramid loans off your deposit -
Pyramid? You mean lending out a portion of my deposit?
How much gasoline/corn/healthcare/etc does your savings account buy now vs. 2 years ago?
How is paying goldmoney.com to hold my money going to make my gasoline/corn/healthcare more affordable?
384
posted on
06/26/2008 5:14:35 PM PDT
by
Toddsterpatriot
(Why are doom and gloomers, union members and liberals so bad at math?)
To: Toddsterpatriot
How is paying goldmoney.com to hold my money going to make my gasoline/corn/healthcare more affordable?
Things go in cycles - right now the "fiat money", "debt as money", "crap as money" (CDOs, etc) system is imploding. It did have a good run for a while there.
The last 5 years and probably the next 10 years it will be better to pay someone 1% to hold your gold backed currency, than to have a bank pay you X% interest while inflation is X+10%
To: dollarbull
The last 5 years and probably the next 10 years it will be better to pay someone 1% to hold your gold backed currencyYou can do that today. Still don't see how that reduces inflation. And how long will you hold your breath for a gold backed currency?
386
posted on
06/26/2008 7:11:41 PM PDT
by
Toddsterpatriot
(Why are doom and gloomers, union members and liberals so bad at math?)
To: Toddsterpatriot
And how long will you hold your breath for a gold backed currency?
didn't we just talk about this? goldmoney.com
To: Toddsterpatriot
To: dollarbull
They sell gold backed dollars? Gold backed Euros? Gold backed Yen?
389
posted on
06/26/2008 7:32:52 PM PDT
by
Toddsterpatriot
(Why are doom and gloomers, union members and liberals so bad at math?)
To: dollarbull
390
posted on
06/26/2008 7:33:45 PM PDT
by
Toddsterpatriot
(Why are doom and gloomers, union members and liberals so bad at math?)
To: Toddsterpatriot
I’ll have to admit I didn’t think the financials would fall this far this fast. While I think they are still not at the bottom, there will be a counter trend rally I’m thinking about trading.
Where you do see the bottom for WFC, BAC, C
To: dollarbull
Where you do see the bottom for WFC, BAC, CNot sure.
I'd like to talk more about your recommendation to pay goldmoney.com to hold your $US, CAD, CHF, Euros, gold and silver. How much did you pay them in the last 12 months?
392
posted on
07/01/2008 6:43:11 PM PDT
by
Toddsterpatriot
(Why are doom and gloomers, union members and liberals so bad at math?)
To: Toddsterpatriot
I'd like to talk more about your recommendation to pay goldmoney.com to hold your $US, CAD, CHF, Euros, gold and silver.
Full fee schedule is at www.goldmoney.com. But you knew that already.
To: dollarbull
Sounds great. How much did you pay them in the last 12 months?
394
posted on
07/03/2008 7:57:32 AM PDT
by
Toddsterpatriot
(Why are doom and gloomers, union members and liberals so bad at math?)
To: Toddsterpatriot
What is your alternative to fractional reserve banking? Please spell it out.
Are you getting the picture now? IMB, FNM, FRE = bankrupt. WB, WM, C, MER, MS, BAC, etc = decimated
Fractional reserve banking sets up a exponential system that contains the seeds of its own destruction. We have passed the debt "event horizon".
Fiat money is fast losing its remaining credibility. Houses are being priced in gold terms in Vietnam. This cycle is over. Hard assets only for the next 10-15 years.
To: dollarbull; Fan of Fiat
Fiat money is fast losing its remaining credibility.Can you still use fiat money to buy gold?
Houses are being priced in gold terms in Vietnam.
You're taking your economic cues from Vietnam? Wow!
I think you should pay goldmoney.com to hold all your PMs and currency. That's less money to be lent out and more demand for my cash. The interest I earn should rise.
396
posted on
07/09/2008 8:14:09 PM PDT
by
Toddsterpatriot
(Why are doom and gloomers, union members and liberals so bad at math?)
To: Toddsterpatriot
Are you replying just to have the last word? You’re not saying anything of substance. The banking sector is melting down because fractional reserve lending is a failed system - you’re rearranging deck chairs on the titanic.
To: dollarbull
Youre not saying anything of substance.Your recommendation of 100% reserves was something of substance?
398
posted on
07/09/2008 8:22:41 PM PDT
by
Toddsterpatriot
(Why are doom and gloomers, union members and liberals so bad at math?)
To: Toddsterpatriot
Your recommendation of 100% reserves was something of substance?
The market has spoken on that. Check any financial stock. Then check any hard asset stock.
Are you going to go down with the ship?
To: dollarbull
The market has spoken on that.People are pulling cash out of interest paying accounts and putting it into accounts where they are charged interest for the privilege? Link?
Then check any hard asset stock.
What do my hard asset stocks have to do with the return of 100% reserve banking?
Are you going to go down with the ship?
If you mean am I going to continue to hold funds in interest bearing accounts, the answer is yes.
400
posted on
07/09/2008 8:33:39 PM PDT
by
Toddsterpatriot
(Why are doom and gloomers, union members and liberals so bad at math?)
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