[split] Rabbi Skobac
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26-07-2015, 06:57 AM
RE: [split] Rabbi Skobac
(22-07-2015 04:56 PM)BnW Wrote:  You literally have no clue how the banking system works or what the role of a central bank is in the economy.
role of fed is described on its site
http://www.federalreserve.gov/faqs/money_12848.htm
Quote:The Congress established the statutory objectives for monetary policy--maximum employment, stable prices, and moderate long-term interest rates--in the Federal Reserve Act.

Quote: No one who has ever lived on their own and paid their own way in life thinks the "natural" interest rate is any where close to what you think it is.
I don't care what majority of population thinks about economics since they never applied critical thinking to it.
Just try thought experiment - where would you get loans and how high interest rates would be if banking system will stop functioning(I repeat again, banks are responcible for 90%(!!!) of money supply in america)
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26-07-2015, 07:57 AM
RE: [split] Rabbi Skobac
So, you're idea of utopian society is one where there is no cash flow, no jobs and no bank loans. Is that it?

Seriously, when did this forum become a haven for morons?

Shackle their minds when they're bent on the cross
When ignorance reigns, life is lost
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26-07-2015, 08:02 AM
RE: [split] Rabbi Skobac
(26-07-2015 07:57 AM)BnW Wrote:  So, you're idea of utopian society is one where there is no cash flow, no jobs and no bank loans.
Huh I just described how real world works
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26-07-2015, 08:04 AM
RE: [split] Rabbi Skobac
(26-07-2015 07:57 AM)BnW Wrote:  So, you're idea of utopian society is one where there is no cash flow, no jobs and no bank loans. Is that it?

Seriously, when did this forum become a haven for morons?

It gets worse every day. Undecided

Apparently if you have Internet connection and can hammer out something that looks like words you're in.

See here they are the bruises some were self-inflicted and some showed up along the way. - JF
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26-07-2015, 10:43 AM
RE: [split] Rabbi Skobac
(26-07-2015 08:02 AM)dimaniac Wrote:  
(26-07-2015 07:57 AM)BnW Wrote:  So, you're idea of utopian society is one where there is no cash flow, no jobs and no bank loans.
Huh I just described how real world works

So, the real world works with a cratered economy and mass unemployment? That's the preferred system?

You do realize, don't you, that before we had a central bank we had banks that made loans, right? And that we had a monetary system, right? And, people borrowed money, right? And, interest rates were not 50%, right? You do know this, don't you? My guess is that you do not.

Trust me on this: you have no idea how the real world works. You have no idea what the real world is. You have no idea on the topics you are talking about. You have no idea what the Fed does, how banking systems work, or what economics are. You have no idea that an economy works and that it is larger than simply the monetary policy. It is abundantly evident to anyone reading any of your jibberish that you are either a child or a simpleton.

Shackle their minds when they're bent on the cross
When ignorance reigns, life is lost
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26-07-2015, 10:52 AM
RE: [split] Rabbi Skobac
(26-07-2015 10:43 AM)BnW Wrote:  ... you are either a child or a simpleton.

Why not both?

The people closely associated with the namesake of female canines are suffering from a nondescript form of lunacy.
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26-07-2015, 11:31 AM
RE: [split] Rabbi Skobac
(26-07-2015 08:02 AM)dimaniac Wrote:  
(26-07-2015 07:57 AM)BnW Wrote:  So, you're idea of utopian society is one where there is no cash flow, no jobs and no bank loans.
Huh I just described how real world works
No cash flow = no economy
No jobs = unemployment
No loans --- irrelevant if there is no economy

I'll pass, sounds like a living hell to me Undecided

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26-07-2015, 11:34 AM (This post was last modified: 26-07-2015 11:43 AM by dimaniac.)
RE: [split] Rabbi Skobac
(26-07-2015 10:43 AM)BnW Wrote:  That's the preferred system?
Where did I say anything about preferred system??? I only described how alternative system would look if government would not manipulate interest rates.
Preferred system would be universal basic income or atleast job guarantee.



Quote:You do realize, don't you, that before we had a central bank we had banks that made loans, right?
And there also were bank panics and evaporation of money supply which caused mass unemployment. Last time fed fucked up and bank money supply was evaporated America had 25% unemployment.

Quote:And, interest rates were not 50%, right
Because there were banks. Remove banking system and interest rates will raise to that level. Study history of usury.

Quote:You have no idea what the Fed does, how banking systems work, or what economics are.
Studying economics was my hobby since 2008 crisis. I'm pretty sure I have good understanding of how economy works.
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26-07-2015, 11:44 AM
RE: [split] Rabbi Skobac
(26-07-2015 11:31 AM)LostLocke Wrote:  
(26-07-2015 08:02 AM)dimaniac Wrote:  Huh I just described how real world works
No cash flow = no economy
No jobs = unemployment
No loans --- irrelevant if there is no economy

I'll pass, sounds like a living hell to me Undecided
Hell only for workers and borrowers. Investors will be in great shape.
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26-07-2015, 02:41 PM (This post was last modified: 26-07-2015 04:29 PM by GirlyMan.)
RE: [split] Rabbi Skobac
(26-07-2015 11:34 AM)dimaniac Wrote:  
Quote:And, interest rates were not 50%, right
Because there were banks. Remove banking system and interest rates will raise to that level. Study history of usury.

You are a simpleton. US States are free to legislate maximum interest rates on loans. And they do so independent of any banking system or other source of lending. And the federal RICO statute sets severe penalties for trying to collect on an illegal debt where the interest rate charged is not legal. Nothing to fucking do with the banking system.

(26-07-2015 11:34 AM)dimaniac Wrote:  
Quote:You have no idea what the Fed does, how banking systems work, or what economics are.
Studying economics was my hobby since 2008 crisis. I'm pretty sure I have good understanding of how economy works.

Well you sure as shit haven't demonstrated that here. Maybe as part of your research you should you know like get a fucking job. And maybe apply for a loan while you're at it. I got a FICO score >800. Lenders compete for my business by offering lower interest rates. The market forces take care of your idiotic conclusion that interest rates will go to 50%. ... Fucking adolescent idiots think they know shit about how this game is played when they've never even fucking played it.

#sigh
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