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JP Morgan commits to spend $2.5 Trillion in the next decade fighting global warming.

ding

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They must be hooked in to all those green companies. But, so many of you have said that spending trillions fighting AGW would destroy the US economy. How can JP Morgan do well if the economy is destroyed. Why aren't they rejecting this whole global warming thing like the rest of you skeptics? They must have consulted experts out the wazoo. Didn't the experts tell them it was all a left wing lie? I don't get it. But I'm sure some of you will explain it to me.

"JPMorgan Chase (JPM) is putting serious firepower behind the fight against climate change. The bank on Thursday said it would finance or facilitate investments of $2.5 trillion over 10 years to support initiatives that focus on combating climate change and enhancing sustainable development. Some of the efforts will center around renewable energy, new clean technology, waste management and conservation. The announcement is the latest addition to a long list of environment-focused pledges from financial institutions, but it's believed to be the largest of its kind by a major bank."


JP Morgan commits to spend $2.5 Trillion

Lend, not spend.

But, so many of you have said that spending trillions fighting AGW would destroy the US economy.

Nah, wasting money on more expensive, less reliable energy won't destroy the economy.
It's just a waste.
Lending it? Or creating debt out of thin air and banking the interest?

They don't care if it loses money. Privatized profits and socialized losses.

Lending it?

Yes.

They don't care if it loses money.

Baloney.

Privatized profits and socialized losses.

How does that work?
You are correct they'd rather it be paid back but they will be bailed out if it doesn't

Nobody is going to give them their money back if a loan defaults.
Did you forget about the government bailouts already?
 

Toddsterpatriot

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So it's your belief that they have $2.5 T in reserve to loan out?

They need that to make loans over the next 10 years?
When you deposit cash in a bank, the bank creates an IOU out of thin air. Similarly, when you take a loan out of a bank, the bank creates an IOU out of thin air. However, due to accounting conventions, the latter action results in net money creation, while the former action does not. (Although these conventions are weird, they make sense: currency in circulation is a good measure with real implications for economic activity, and currency in circulation is genuinely increased when banks loan money.)

.

Similarly, when you take a loan out of a bank, the bank creates an IOU out of thin air.

Yes, every loan is fully funded.
That's not exactly what that is saying.

Every loan is fully funded. Whether your source said it or not.

A bank with $1,000,000 in deposits can make, at most $1,000,000 in loans.
To make more loans, they need to borrow more from someone.

A bank with $1,000,000 in deposits cannot simply make a $10,000,000 loan.
 

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So it's your belief that they have $2.5 T in reserve to loan out?

They need that to make loans over the next 10 years?
When you deposit cash in a bank, the bank creates an IOU out of thin air. Similarly, when you take a loan out of a bank, the bank creates an IOU out of thin air. However, due to accounting conventions, the latter action results in net money creation, while the former action does not. (Although these conventions are weird, they make sense: currency in circulation is a good measure with real implications for economic activity, and currency in circulation is genuinely increased when banks loan money.)

.

Similarly, when you take a loan out of a bank, the bank creates an IOU out of thin air.

Yes, every loan is fully funded.
That's not exactly what that is saying.

Every loan is fully funded. Whether your source said it or not.

A bank with $1,000,000 in deposits can make, at most $1,000,000 in loans.
To make more loans, they need to borrow more from someone.

A bank with $1,000,000 in deposits cannot simply make a $10,000,000 loan.
Our fractional reserve banking system does allow for that.

.
 

Toddsterpatriot

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So it's your belief that they have $2.5 T in reserve to loan out?

They need that to make loans over the next 10 years?
When you deposit cash in a bank, the bank creates an IOU out of thin air. Similarly, when you take a loan out of a bank, the bank creates an IOU out of thin air. However, due to accounting conventions, the latter action results in net money creation, while the former action does not. (Although these conventions are weird, they make sense: currency in circulation is a good measure with real implications for economic activity, and currency in circulation is genuinely increased when banks loan money.)

.

Similarly, when you take a loan out of a bank, the bank creates an IOU out of thin air.

Yes, every loan is fully funded.
That's not exactly what that is saying.

Every loan is fully funded. Whether your source said it or not.

A bank with $1,000,000 in deposits can make, at most $1,000,000 in loans.
To make more loans, they need to borrow more from someone.

A bank with $1,000,000 in deposits cannot simply make a $10,000,000 loan.
Our fractional reserve banking system does allow for that.

.

Our fractional reserve banking system does allow for that.

That is not correct. A single bank with only $1,000,000 in deposits can loan, at most $1,000,000.
 

Toddsterpatriot

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Did you forget about the government bailouts already?

Which ones apply to JPMorgan getting their losses covered?
Be as specific as you can.
If they are deemed to be too big to fail the government will bail them out just as they did back in 2008.

If they are deemed to be too big to fail the government will bail them out just as they did back in 2008.

Which banks received money to cover their losses in 2008?
 

Decus

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Greenwashing is a profitable business approach. Say it's green and it sells. Energy, products, everything.

The reality of the businesses that claim to be green is often very similar to the snake oil sales pitches of yesteryear.

If you get a chance you really have to watch a documentary made by an environmentalist and backed by Michael Moore regarding "green companies". The title of the documentary is "Planet of the Humans":

Comments regarding documentary:

Full documentary:

.
 

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So it's your belief that they have $2.5 T in reserve to loan out?

They need that to make loans over the next 10 years?
When you deposit cash in a bank, the bank creates an IOU out of thin air. Similarly, when you take a loan out of a bank, the bank creates an IOU out of thin air. However, due to accounting conventions, the latter action results in net money creation, while the former action does not. (Although these conventions are weird, they make sense: currency in circulation is a good measure with real implications for economic activity, and currency in circulation is genuinely increased when banks loan money.)

.

Similarly, when you take a loan out of a bank, the bank creates an IOU out of thin air.

Yes, every loan is fully funded.
That's not exactly what that is saying.

Every loan is fully funded. Whether your source said it or not.

A bank with $1,000,000 in deposits can make, at most $1,000,000 in loans.
To make more loans, they need to borrow more from someone.

A bank with $1,000,000 in deposits cannot simply make a $10,000,000 loan.
Our fractional reserve banking system does allow for that.

.

Our fractional reserve banking system does allow for that.

That is not correct. A single bank with only $1,000,000 in deposits can loan, at most $1,000,000.
I can't help you anymore.
 

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Did you forget about the government bailouts already?

Which ones apply to JPMorgan getting their losses covered?
Be as specific as you can.
If they are deemed to be too big to fail the government will bail them out just as they did back in 2008.

If they are deemed to be too big to fail the government will bail them out just as they did back in 2008.

Which banks received money to cover their losses in 2008?
 

Toddsterpatriot

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So it's your belief that they have $2.5 T in reserve to loan out?

They need that to make loans over the next 10 years?
When you deposit cash in a bank, the bank creates an IOU out of thin air. Similarly, when you take a loan out of a bank, the bank creates an IOU out of thin air. However, due to accounting conventions, the latter action results in net money creation, while the former action does not. (Although these conventions are weird, they make sense: currency in circulation is a good measure with real implications for economic activity, and currency in circulation is genuinely increased when banks loan money.)

.

Similarly, when you take a loan out of a bank, the bank creates an IOU out of thin air.

Yes, every loan is fully funded.
That's not exactly what that is saying.

Every loan is fully funded. Whether your source said it or not.

A bank with $1,000,000 in deposits can make, at most $1,000,000 in loans.
To make more loans, they need to borrow more from someone.

A bank with $1,000,000 in deposits cannot simply make a $10,000,000 loan.
Our fractional reserve banking system does allow for that.

.

Our fractional reserve banking system does allow for that.

That is not correct. A single bank with only $1,000,000 in deposits can loan, at most $1,000,000.
I can't help you anymore.

I know, your confusion can't help anyone.
 

Toddsterpatriot

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Did you forget about the government bailouts already?

Which ones apply to JPMorgan getting their losses covered?
Be as specific as you can.
If they are deemed to be too big to fail the government will bail them out just as they did back in 2008.

If they are deemed to be too big to fail the government will bail them out just as they did back in 2008.

Which banks received money to cover their losses in 2008?

That bailout lists loans.
Loans don't cover losses.
 

ding

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So it's your belief that they have $2.5 T in reserve to loan out?

They need that to make loans over the next 10 years?
When you deposit cash in a bank, the bank creates an IOU out of thin air. Similarly, when you take a loan out of a bank, the bank creates an IOU out of thin air. However, due to accounting conventions, the latter action results in net money creation, while the former action does not. (Although these conventions are weird, they make sense: currency in circulation is a good measure with real implications for economic activity, and currency in circulation is genuinely increased when banks loan money.)

.

Similarly, when you take a loan out of a bank, the bank creates an IOU out of thin air.

Yes, every loan is fully funded.
That's not exactly what that is saying.

Every loan is fully funded. Whether your source said it or not.

A bank with $1,000,000 in deposits can make, at most $1,000,000 in loans.
To make more loans, they need to borrow more from someone.

A bank with $1,000,000 in deposits cannot simply make a $10,000,000 loan.
Our fractional reserve banking system does allow for that.

.

Our fractional reserve banking system does allow for that.

That is not correct. A single bank with only $1,000,000 in deposits can loan, at most $1,000,000.
I can't help you anymore.

I know, your confusion can't help anyone.
I couldn't be happier for you to see it that way. :)
 

skookerasbil

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Last edited:

Toddsterpatriot

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So it's your belief that they have $2.5 T in reserve to loan out?

They need that to make loans over the next 10 years?
When you deposit cash in a bank, the bank creates an IOU out of thin air. Similarly, when you take a loan out of a bank, the bank creates an IOU out of thin air. However, due to accounting conventions, the latter action results in net money creation, while the former action does not. (Although these conventions are weird, they make sense: currency in circulation is a good measure with real implications for economic activity, and currency in circulation is genuinely increased when banks loan money.)

.

Similarly, when you take a loan out of a bank, the bank creates an IOU out of thin air.

Yes, every loan is fully funded.
That's not exactly what that is saying.

Every loan is fully funded. Whether your source said it or not.

A bank with $1,000,000 in deposits can make, at most $1,000,000 in loans.
To make more loans, they need to borrow more from someone.

A bank with $1,000,000 in deposits cannot simply make a $10,000,000 loan.
Our fractional reserve banking system does allow for that.

.

Our fractional reserve banking system does allow for that.

That is not correct. A single bank with only $1,000,000 in deposits can loan, at most $1,000,000.
I can't help you anymore.

I know, your confusion can't help anyone.
I couldn't be happier for you to see it that way. :)

You should start your own bank and make loans with no deposits.

Post your results here.
 

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So it's your belief that they have $2.5 T in reserve to loan out?

They need that to make loans over the next 10 years?
When you deposit cash in a bank, the bank creates an IOU out of thin air. Similarly, when you take a loan out of a bank, the bank creates an IOU out of thin air. However, due to accounting conventions, the latter action results in net money creation, while the former action does not. (Although these conventions are weird, they make sense: currency in circulation is a good measure with real implications for economic activity, and currency in circulation is genuinely increased when banks loan money.)

.

Similarly, when you take a loan out of a bank, the bank creates an IOU out of thin air.

Yes, every loan is fully funded.
That's not exactly what that is saying.

Every loan is fully funded. Whether your source said it or not.

A bank with $1,000,000 in deposits can make, at most $1,000,000 in loans.
To make more loans, they need to borrow more from someone.

A bank with $1,000,000 in deposits cannot simply make a $10,000,000 loan.
Our fractional reserve banking system does allow for that.

.

Our fractional reserve banking system does allow for that.

That is not correct. A single bank with only $1,000,000 in deposits can loan, at most $1,000,000.
I can't help you anymore.

I know, your confusion can't help anyone.
I couldn't be happier for you to see it that way. :)

You should start your own bank and make loans with no deposits.

Post your results here.
I'm happy enough with the posts I made here. :)
 

ding

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I'm happy enough with the posts I made here. :)

I'm sure you're very comfortable in your ignorance.
I think what I posted spoke for itself. Banks are allowed to lend more than their deposits and there have been bailouts. I don't have anything else to prove. If you want to argue against these facts I'm more than happy for you to do so.
 

Toddsterpatriot

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I'm happy enough with the posts I made here. :)

I'm sure you're very comfortable in your ignorance.
I think what I posted spoke for itself. Banks are allowed to lend more than their deposits and there have been bailouts. I don't have anything else to prove. If you want to argue against these facts I'm more than happy for you to do it.

Banks are allowed to lend more than their deposits

Only if they borrow from other banks.

Without extra borrowing, a bank can only lend as much as their deposits.

and there have been bailouts.


Yes, there were tons of short term loans.
 

Toddsterpatriot

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