Trump Continues to Signal Wall Street Deregulation

[Toro]

Now, how do we back out the $4 trillion of funny money pumped into Wall Street, without crashing the entire planet?

Over 10 trillion.....

And there are only two ways to remove money from the economy: inflation and interest rates....

The pain Obama wanted inflicted upon us is coming....

There is another way. But such an economic productivity and growth rate has never happened in all of human history.

Well. . . from other things I read, there is still another, more nefarious way, which Bannon intimated.

If we entered into a cashless society, and folks could not keep savings outside of banks, and then the international banking cartel could introduce negative interest rates in order to introduce a new kind of tax. . .

A cashless system makes it easier to remove cash from banks, not harder.

 

[AnCap'n_Murica]

A cashless system makes it easier to remove cash from banks, not harder.

A cashless system makes us all slaves to the banks, and in turn those who control the banks.

 

[Toro]

A cashless system makes it easier to remove cash from banks, not harder.

A cashless system makes us all slaves to the banks, and in turn those who control the banks.

I have no idea why you think that.

Technology creates alternative payment systems and savings options.

I've had conversations with people who think alternative digital currencies such as bitcoin could destroy the financial system as we know it.

 

[peabody]

After appointing more Wall Street billionaires and multi-millionaires to his administration than any other in history - including former corporate raider Carl Icahn as an unpaid special advisor on slashing regulations - Trump has nominated Wall Street lawyer Jay Clayton as head of the SEC.

And that is awesome.

It's time to get Washington off Wall Street's back!

With his selection of deal-making attorney Walter "Jay" Clayton to head the U.S. Securities and Exchange Commission, President-elect Donald Trump is signaling that the agency will try to reduce regulations that critics see as burdensome or hindering corporate growth.

Trump announced on Wednesday that he intends to nominate Clayton, a partner in the New York office of law firm Sullivan & Cromwell, to lead the agency that polices and regulates Wall Street. ...

Many Republicans in recent years have criticized the SEC for focusing too much on enforcement, especially under outgoing chair Mary Jo White, a former federal prosecutor, and not enough on its other missions, including writing rules that promote capital formation.

Legal experts said Clayton's background is more in line with some past SEC chiefs, and points to less regulation and perhaps a shift away from White's policy in which the agency fined firms for smaller violations in an effort to deter bigger ones. ...

As is often the case with SEC chair nominees, Clayton has some close personal and professional ties to Wall Street.

During the height of the 2008 financial crisis, Clayton worked on major deals involving big banks, including Barclays Capital's (BARC.L) acquisition of Lehman Brothers' assets, the sale of Bear Stearns to JP Morgan Chase (JPM.N), and the U.S. Treasury Department's capital investment in Goldman Sachs (GS.N), according to his law firm's website.

He has helped draft comment letters to the SEC that advocated for less onerous restrictions for foreign public companies, and also participated in a 2011 article which advocated for less zealous enforcement of the Foreign Corrupt Practices Act.

Clayton's background representing Goldman and other Wall Street firms is likely to come up during his Senate confirmation hearing. His wife, Gretchen Butler Clayton, is employed by Goldman Sachs as a private wealth advisor. ...​

Trump's SEC pick Clayton points to capital formation, not enforcement

This time is different. The fat cats are looking out for us and they want to help the little guy. Trump said so

 

[AnCap'n_Murica]

I have no idea why you think that.

Technology creates alternative payment systems and savings options.

I've had conversations with people who think alternative digital currencies such as bitcoin could destroy the financial system as we know it.

Bitcoin is one thing - a free market based medium of exchange. Federal reserve "legal tender" e-curreny, forced upon us by decree, is quite another.

Or maybe you could ask Bernard von NotHaus how his free market based currency business model worked out.