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Old 06-27-2020, 09:00 AM
 
Location: Washington Park, Denver
8,108 posts, read 7,533,820 times
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Quote:
Originally Posted by NJ Brazen_3133 View Post
No sovereign needs either BIS, IMF, or the World Bank for anything. a



More like avoid depressions for banks, and the side market the banks have with each other only when trading stocks/bonds/etc etc.
You can’t think that all the banks can collapse without bringing the entire economy down with them, can you? Bank facilitate the flows of capital in our system. We need them.
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Old 06-27-2020, 11:24 AM
 
2,632 posts, read 1,005,147 times
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Quote:
Originally Posted by SkyDog77 View Post
You can’t think that all the banks can collapse without bringing the entire economy down with them, can you? Bank facilitate the flows of capital in our system. We need them.
That’s what Skeletor told Congress in 2008 during that famous “tanks in the streets” closed-door session. The fools believed him and voted to bail out the five large banks.

In an alternate history, the a-hole bankers would have been called on their bluff and the lot of them dismissed and investigated for financial fraud. The “TBTF” banks would be dissolved, depositors made whole by the FDIC. Within six months the whole mess would have ended and new banks opened to handle commerce.
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Old 06-27-2020, 01:06 PM
 
8,390 posts, read 7,531,341 times
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Quote:
Originally Posted by SkyDog77 View Post
You can’t think that all the banks can collapse without bringing the entire economy down with them, can you? Bank facilitate the flows of capital in our system. We need them.
No they facilitate the flow back to themselves under our current regulations. Plus even if we do need banks, no one needs those international banks.
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Old 06-27-2020, 01:15 PM
 
Location: Washington Park, Denver
8,108 posts, read 7,533,820 times
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Quote:
Originally Posted by NJ Brazen_3133 View Post
No they facilitate the flow back to themselves under our current regulations. Plus even if we do need banks, no one needs those international banks.
That’s not how the economy works. I don’t think you realize how interconnected everything is.

Multinational firms that provide millions of jobs rely on financing and cash movement from international banks.

Take them away and everything implodes.
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Old 06-27-2020, 01:31 PM
 
10,588 posts, read 4,602,795 times
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Quote:
Originally Posted by SkyDog77 View Post
That’s not how the economy works. I don’t think you realize how interconnected everything is.

Multinational firms that provide millions of jobs rely on financing and cash movement from international banks.

Take them away and everything implodes.
All so true! Exports and imports are a large part of most any economy.

The Fed created $T's of new USD's while supporting foreign banks after the 2008 crash. Every last one of those dollars was returned, paid off or cancelled.
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Old 06-27-2020, 02:24 PM
 
8,390 posts, read 7,531,341 times
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Quote:
Originally Posted by SkyDog77 View Post
That’s not how the economy works. I don’t think you realize how interconnected everything is.

Multinational firms that provide millions of jobs rely on financing and cash movement from international banks.

Take them away and everything implodes.
Those multinationals also killed off all the mom and pop when they came about. They largely owned by bankers, and they just printed out more money, outbid everyone for assets, then undercut everyone, to obtain all the market share, and essentially all the flow of money goes back to them.

Will it be worse than right now with Covid-19? 99% of world's population dont get to play around with huge denominations the banks have arbitrarily assigned to themselves, and their assets. Banking is not infrastructure. If things like fuel production halt, bridges collapsing, worldwide famine caused by natural disaster, oceans' drying up completely, then things will "implode".
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Old 06-27-2020, 02:30 PM
 
8,390 posts, read 7,531,341 times
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Quote:
Originally Posted by Hoonose View Post
All so true! Exports and imports are a large part of most any economy.

The Fed created $T's of new USD's while supporting foreign banks after the 2008 crash. Every last one of those dollars was returned, paid off or cancelled.
What is point of all those middle men? I need middle men to put seller, and buyer together. Whoever knows how many more to handle delivery. And now there needs to be some bankers who holds onto the newly created Ts of USD until someone, in exchange for putting themselves into debt to these bankers, is granted usage.

Heck if someone gave me enough money to buy every single tree on the planet I could also pay it back. I just charge so and so for all plywood, and cardboard. The FED will just have to print out more bills (or have it done), or the bankers can issue an extended line of credit. That way everyone will be afford my new price. I can then change the numbers on my computer, and the FED or the IRS can change the numbers on their computer, and will all be a wash.
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Old 06-27-2020, 04:47 PM
 
Location: Silicon Valley
4,893 posts, read 2,197,155 times
Reputation: 7939
Quote:
Originally Posted by TimAZ View Post
That’s what Skeletor told Congress in 2008 during that famous “tanks in the streets” closed-door session. The fools believed him and voted to bail out the five large banks.

In an alternate history, the a-hole bankers would have been called on their bluff and the lot of them dismissed and investigated for financial fraud. The “TBTF” banks would be dissolved, depositors made whole by the FDIC. Within six months the whole mess would have ended and new banks opened to handle commerce.
With all due respect, the FDIC had nowhere near the funds it needed to make depositors whole. If even just one of the TBTF banks failed the FDIC would be in the red by a significant margin....that's why they were TBTF. Even if the FDIC rallied the funds to bail out one, then the rest of the FDIC coverage was worthless for everyone else, and we'd be back to the bank panic days of 100+ years ago. Basically it was a giant extend and pretend exercise...and it worked.
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Old 06-27-2020, 07:50 PM
 
19,121 posts, read 25,039,687 times
Reputation: 36782
hopefully we have plenty of ink for those printers..

its odd we are trillions and trillions of dollars in debt..probly never be able to pay the interest...and the value of a dollar remains fairly constant
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Old 06-27-2020, 08:06 PM
 
Location: Silicon Valley
4,893 posts, read 2,197,155 times
Reputation: 7939
Quote:
Originally Posted by mainebrokerman View Post
hopefully we have plenty of ink for those printers..

its odd we are trillions and trillions of dollars in debt..probly never be able to pay the interest...and the value of a dollar remains fairly constant
The dollar doesn't remain constant, but a weakening dollar allows all other countries to do the same. If everyone does it at the same pace, you won't see large currency issues. Plus, inflation in everyday consumable goods and electronics is constantly needing increases in productivity to remain at a fixed price point. For things that can't be mass produced, like land, education and hospitalization...we're seeing some pretty high rates of inflation.
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