"cut the wealth of billionaires in half over 15 years, "

[bripat9643]

Without fraud?

Full-reserve banking - Wikipedia

"In The Mystery of Banking, Murray Rothbard argues that legalized fractional-reserve banking gave banks 'carte blanche' to create money out of thin air.[24]

"Economists that formulated the Chicago Plan following the Great Depression argue that allowing banks to have fractional reserves puts too much power in the hands of banks by allowing them to determine the amount of money in circulation by changing the amount of loans they give out.[25]

"Is fractional-reserve banking fraud?"​

So? Explain how they can make money of they can't loan out some of their reserves?

 

[daveman]

Like Operation Barbarossa?

No ideology in history kills like capitalism.

Operation Barbarossa

LOL! How retarded. Hitler was not a capitalist, you moron.

 

[daveman]

Without fraud?

Full-reserve banking - Wikipedia

"In The Mystery of Banking, Murray Rothbard argues that legalized fractional-reserve banking gave banks 'carte blanche' to create money out of thin air.[24]

"Economists that formulated the Chicago Plan following the Great Depression argue that allowing banks to have fractional reserves puts too much power in the hands of banks by allowing them to determine the amount of money in circulation by changing the amount of loans they give out.[25]

"Is fractional-reserve banking fraud?"​

Oh, right, because government has NEVER done bad things to people.

 

[georgephillip]

So? Explain how they can make money of they can't loan out some of their reserves?

"Full-reserve banking (also known as 100% reserve banking, narrow banking, or sovereign money system) is a system of banking where banks do not lend demand deposits and instead, only lend from time deposits."

Full-reserve banking - Wikipedia

 

[georgephillip]

LOL! How retarded. Hitler was not a capitalist, you moron.

Like Trump's a populist.

 

[georgephillip]

Oh, right, because government has NEVER done bad things to people.

Government serves rich people.

"Republicans for over 20 years have waged a war to eviscerate the Securities and Exchange Commission and the Commodities Futures Trading Commission, the CFTC, which is supposed to regulate financial derivatives..."

"For example, now hyper frequency trading, trading, and literally in nanoseconds is the vast bulk of all trades, and it’s really dangerous and stupid to the system, and it doesn’t have any benefits to society, just individual sleaze.

"So we clearly ought to be regulating it..."

"The Republicans have ensured that the SEC the CFTC do not have sufficient resources to buy the computer capacity to even analyze after the fact the crises."

Bill Black Pt 8/9 — The Best Way to Rob a Bank is to Own One

 

[daveman]

Like Trump's a populist.

Trump never tried to hide what he was, a businessman. Dumbass.

 

[DustyInfinity]

Government serves rich people.

"Republicans for over 20 years have waged a war to eviscerate the Securities and Exchange Commission and the Commodities Futures Trading Commission, the CFTC, which is supposed to regulate financial derivatives..."

"For example, now hyper frequency trading, trading, and literally in nanoseconds is the vast bulk of all trades, and it’s really dangerous and stupid to the system, and it doesn’t have any benefits to society, just individual sleaze.

"So we clearly ought to be regulating it..."

"The Republicans have ensured that the SEC the CFTC do not have sufficient resources to buy the computer capacity to even analyze after the fact the crises."

Bill Black Pt 8/9 — The Best Way to Rob a Bank is to Own One

Hey George. Do you ever envision a version of a nation where the people are not under somebody's thumb? If you say the government is corrupt, people will say corporations are worse and vice versa. Is there ever a version where people have a large degree of freedom? I'm still holding on to the idea that the government has limited control and power and that its two major roles are national defense and breaking up monopolies. If the government actually broke up monopolies, would you be dead set against the reduction of government power?

 

[daveman]

Government serves rich people.

"Republicans for over 20 years have waged a war to eviscerate the Securities and Exchange Commission and the Commodities Futures Trading Commission, the CFTC, which is supposed to regulate financial derivatives..."

"For example, now hyper frequency trading, trading, and literally in nanoseconds is the vast bulk of all trades, and it’s really dangerous and stupid to the system, and it doesn’t have any benefits to society, just individual sleaze.

"So we clearly ought to be regulating it..."

"The Republicans have ensured that the SEC the CFTC do not have sufficient resources to buy the computer capacity to even analyze after the fact the crises."

Bill Black Pt 8/9 — The Best Way to Rob a Bank is to Own One

And there you are, demanding more government as the solution.

 

[georgephillip]

Trump never tried to hide what he was, a businessman. Dumbass.

So what?
He's never hid the facts he's a malignant narcissist and pathological liar either.
Donald Trump Settlement & Lawsuits - History of Legal Affairs - CRUSH The LSAT 2021

 

[dblack]

Government serves rich people.

Which is exactly why it's important to keep it limited in power and scope.

 

[georgephillip]

I'm still holding on to the idea that the government has limited control and power and that its two major roles are national defense and breaking up monopolies. If the government actually broke up monopolies, would you be dead set against the reduction of government power?

Government hasn't paid much attention to breaking up monopolies since Carter and Reagan. Look at how Bush II and Obama handled those monopolies responsible for the greatest economic downturn since the Great Depression.

In 2004 the FBI warned about an epidemic of mortgage fraud that would cause a financial crisis if not prosecuted:

Bill Black Pt 8/9 — The Best Way to Rob a Bank is to Own One

"So the FBI comes back and says to Mukasey, Attorney General under Bush, the way you’ve got this set up is a recipe for failure because what we know works, the thing we used in the savings and loan debacle, the thing we used in Enron is task forces, and there are essential to dealing with large amounts of really sophisticated fraud.

"And you need to have a task force against mortgage fraud. And Mukasey refuses and he refuses on the grounds that and I quote, 'it’s just the equivalent of white-collar street crime,...'"

Obama's reactions to Wall Street's criminal monopolies was just as anemic:

"So it would have been so simple for the Obama administration to be the heroes. It was set up for them to be the heroes. All they had to do was what they said they were going to do. And as I say, their first act was to unwind this insane decision by the attorney general under Bush, Mukasey, that forbade any task force and they created a task force, so good right?..."

"So they decided almost immediately that they weren’t even going to try to bring criminal cases.

"They turned it into a civil case and then they said on top of that, we’re not going to sue the CEOs, and the CFOs, and the people in the C-suite, that got incredibly rich by blowing up our world economy and predating on blacks and Latinx folks.

"We will virtually eliminate such suits.

"There were only about six against prominent folks."

Government is not the problem.
Rich people are the problem.
When rich people control government, the problem gets worse.

 

[georgephillip]

Which is exactly why it's important to keep it limited in power and scope.

Right after it taxes private fortunes above a certain level into extinction.

 

[georgephillip]

And there you are, demanding more government as the solution.

I'm demanding government construct laws and institutions that benefit 99% of productive workers instead of 1% parasites.

 

[dblack]

Right after it taxes private fortunes above a certain level into extinction.

But you just said ...

Nevermind. You'd wouldn't acknowledge the contradiction in any case.

 

[Flash]

How about cutting welfare in half this year and the other half next year?

Also, cut the Federal budget in half and then reduce taxes for everybody?

We really don't need the filthy ass income and corporate taxes.

The only functions we should be doing at the Federal level are defense, courts, state department and few other minor things.

 

[dblack]

How about cutting welfare in half this year and the other half next year?
...

No, no. That won't do at all. The way to deal with abuse of welfare is more welfare. Duh.

 

[LAUGHatLEFTISTS]

Why do you think there were no US billionaires before Reagan's tax cuts?

Causes of income inequality in the United States - Wikipedia

The answer to your "simple economics" is obvious, create a set of democratically constructed laws and institutions that prevent obscene levels of income and wealth inequality from forming in the first place.

Income inequality is just another buzz phrase the leftist made up to take money from one group and give it to another for votes.

 

[georgephillip]

But you just said ...

Nevermind. You'd wouldn't acknowledge the contradiction in any case

There is no contradiction.
Government created the laws and institutions that enabled vast private fortunes to come into existence. Only government has the ability to exterminate the political influence those private fortunes exert over society today.

After JPMorgan Chase Admits to Its 4th and 5th Felony Charge, Its Board Gives a $50 Million Bonus to Its CEO, Jamie Dimon

 

[Markle]

Nothing is too much for me to handle. I was just wondering how drastically your life would be changed if you only had half a billion instead of 1 billion.

What does that have to do with anything?