End the Fed!

[Toddsterpatriot]

Uncle Vinny?

Without a central bank, shitty banks would fail. As they should. Don't put your money in a shity bank!

How much are you willing to spend to bail out the customers of shitty banks?

 

[dblack]

How much are you willing to spend to bail out the customers of shitty banks?

None

 

[Toddsterpatriot]

None

What bank is your money in?

 

[gipper]

Has anyone proven that theory? We now have both inflation and are paying vast amounts of interest for borrowing our own currency. Smells fishy to me.

Agreed.

 

[gipper]

How long are you guys gonna let Toddster keep jerking you around in a redundant circle?

You're letting him control your arguments with redundant spin.

Exactly.

 

[Orangecat]

Name some countries that printed instead of borrowing.
What are their inflation and interest rates?

I don’t have the time to do a bunch of research for you. I believe we need to spend within revenue levels and go back to a gold standard. Borrowing at interest from a group of private banks is silly, when we have the ability to print our own currency.
Do you disagree?
If so, why?

 

[dblack]

What bank is your money in?

Why would I tell you that??

Anyway, I don't want to hear all the excuses. Sure, the Fed lets our banks loan money they don't have so we can supercharge the economy. But we shouldn't be doing that. It's cheating.

 

[Orangecat]

I won't argue with that. So, you're not saying we should print instead of tax?

I’m saying we should tax minimally, drastically cut spending, and only print when we have the gold to back up the amount printed.

And when China converts their dollars to gold, we have to shrink our money supply.
Wouldn't deflation be an issue?

China’s dollars are no less valuable than anyone else’s dollars. If they want to convert them to gold, at the rate we determine, they should be able to. Deflation sounds a lot better than inflation to me.

 

[Orangecat]

We had fractional reserve banking under a gold /silver standard.

Does that make it right?

 

[Toddsterpatriot]

I don’t have the time to do a bunch of research for you. I believe we need to spend within revenue levels and go back to a gold standard. Borrowing at interest from a group of private banks is silly, when we have the ability to print our own currency.
Do you disagree?
If so, why?

I believe we need to spend within revenue levels

Absolutely.

and go back to a gold standard.

Why?

Borrowing at interest from a group of private banks is silly,

Who would you rather borrow from?

when we have the ability to print our own currency.
Do you disagree?

I do not agree that printing to cover a deficit is better than borrowing.

If so, why?

Inflation.

 

[Toddsterpatriot]

Why would I tell you that??

Anyway, I don't want to hear all the excuses. Sure, the Fed lets our banks loan money they don't have so we can supercharge the economy. But we shouldn't be doing that. It's cheating.

Why would I tell you that??

I'd like to know which non-crappy bank I should have my money in.

Sure, the Fed lets our banks loan money they don't have

How does the Fed let them do that?

 

[sparky]

There is no revenue Todd, how many folks do you think have been inside Ft Knox in the last 1/2 century?

This is why the petro$$$ became the earthly benchmark

Defending it is the real reason for our M.E. involvement, 9/11 ,as the BRICS walk all over it

Sooner or later the IMF will grant special drawing rights to those members that HAVE revenue

The Asian consortiums have wanted this for quite some time are gaining allies

The kind that makes $$$, not asks for ours

~S~

 

[Toddsterpatriot]

There is no revenue Todd, how many folks do you think have been inside Ft Knox in the last 1/2 century?

This is why the petro$$$ became the earthly benchmark

Defending it is the real reason for our M.E. involvement, 9/11 ,as the BRICS walk all over it

Sooner or later the IMF will grant special drawing rights to those members that HAVE revenue

The Asian consortiums have wanted this for quite some time are gaining allies

The kind that makes $$$, not asks for ours

~S~

The federal government has no revenue?
You're not making any sense.

 

[BackAgain]

If a bank or several banks had behaved with alarming disregard for financial realities and was/were on the brink of becoming insolvent, and couldn’t manage to secure any loans to keep it/them operational, why should an independent “central bank” be the lender of so-called last resort?

Bailing out that bank (or those banks) only rewards them for their prior shitty performance.

Furthermore, even if the Central Bank deems it “critical” for national economic “stability” to bail them out, why should they get a unilateral say-so? Why wouldn’t it make more sense for them to have to ask Congress (on a case by case basis) for authority to do such things? Shouldn’t such things be a matter of transparency and proper debate under Constitutional authority?

 

[Toddsterpatriot]

If a bank or several banks had behaved with alarming disregard for financial realities and was/were on the brink of becoming insolvent, and couldn’t manage to secure any loans to keep it/them operational, why should an independent “central bank” be the lender of so-called last resort?

Bailing out that bank (or those banks) only rewards them for their prior shitty performance.

Furthermore, even if the Central Bank deems it “critical” for national economic “stability” to bail them out, why should they get a unilateral say-so? Why wouldn’t it make more sense for them to have to ask Congress (on a case by case basis) for authority to do such things? Shouldn’t such things be a matter of transparency and proper debate under Constitutional authority?

There is a difference between insolvent and illiquid.

why should an independent “central bank” be the lender of so-called last resort?

I see no reason why a central bank shouldn't make collateralized loans to banks
during a liquidity crisis or panic.

Bailing out that bank (or those banks) only rewards them for their prior shitty performance.

I don't think a collateralized loan is a bailout. What's your definition of bailout?

 

[BackAgain]

There is a difference between insolvent and illiquid.

why should an independent “central bank” be the lender of so-called last resort?

I see no reason why a central bank shouldn't make collateralized loans to banks
during a liquidity crisis or panic.

Bailing out that bank (or those banks) only rewards them for their prior shitty performance.

I don't think a collateralized loan is a bailout. What's your definition of bailout?

It’s not a bailout? Lol

So, if not for the “loan” of “last resort,” the failing bank would continue?

 

[Toddsterpatriot]

It’s not a bailout? Lol

So, if not for the “loan” of “last resort,” the failing bank would continue?

Define bailout.

 

[BackAgain]

Define bailout.

Look it up. Stop deflecting.

 

[Toddsterpatriot]

Look it up. Stop deflecting.

Do you understand the difference between insolvent and illiquid?

 

[BackAgain]

Do you understand the difference between insolvent and illiquid?

Again, do you ever actually reply?

Maybe you just can’t.