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petition to end the Federal Reserve as our central bank...
#31
Yep .
Celebrating Over 25 Years as a Designated " Paper Terrorist " - I Will Stand Corrected - No Legal Advice or Recommended Course of Action Expressed or Implied

The Constitution - Estate in Trust for the Heirs of Freedom - Local Link
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#32
(05-14-2018, 04:39 PM)Luvapottamus Wrote: He was wrong about fractional Reserve banking, which is actually a really great idea.

Without it no new restaurants and few new businesses would ever open. Having a mechanism where only some of the loans have to perform is better than having a system where EVERY LOAN must perform or the bank goes tits up.

Facepalm   Couldn't disagree more.

I come from a family that ran a very successful local savings and loan,
much like the building and loan of "It's a Wonderful Life" movie.

THIS is the ONLY WAY to bring prosperity and commerce and equality
to any community.  AND this is why they have ALL been shut down.
Whenever anyone referred to my Father as a "Banker", he bristled and
immediately corrected them.  The difference is HUGE.

Once my Father retired, the vultures swept in and cannibalized it, shut it down.

Until we return to this model, Americans are at the oligarchs' mercies... an oxymoron
if I ever heard one.

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#33
(05-15-2018, 02:46 AM)K1ll_R06U3 Wrote:
(05-15-2018, 02:35 AM)Frigg Wrote: Never forget that all central banks are privately owned..

Ther federal reserve is privately owned....get it?

It will not be much of a surprise what their names are.

I won't post the entire list because it's in the hundreds. From Q

United States: Federal Reserve, Federal Reserve Bank of New York
Vanuatu: Reserve Bank of Vanuatu
Venezuela: Central Bank of Venezuela
Vietnam: The State Bank of Vietnam
Yemen: Central Bank of Yemen
Zambia: Bank of Zambia
Zimbabwe: Reserve Bank of Zimbabwe
The FED and the IRS
FACT: US Federal Reserve is a privately-owned company, sitting on its very own patch of land, immune to the US laws.
Q

OWNED BY THE CITY OF LONDON.

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#34
(05-15-2018, 12:01 PM)SouthernBelle Wrote:
(05-14-2018, 04:39 PM)Luvapottamus Wrote: He was wrong about fractional Reserve banking, which is actually a really great idea.

Without it no new restaurants and few new businesses would ever open. Having a mechanism where only some of the loans have to perform is better than having a system where EVERY LOAN must perform or the bank goes tits up.

Facepalm   Couldn't disagree more.

I come from a family that ran a very successful local savings and loan,
much like the building and loan of "It's a Wonderful Life" movie.

THIS is the ONLY WAY to bring prosperity and commerce and equality
to any community.  AND this is why they have ALL been shut down.
Whenever anyone referred to my Father as a "Banker", he bristled and
immediately corrected them.  The difference is HUGE.

Once my Father retired, the vultures swept in and cannibalized it, shut it down.

Until we return to this model, Americans are at the oligarchs' mercies... an oxymoron
if I ever heard one.

.

Depends on the rules.

S&Ls were under the management of the FED too. The whole time.

This system is so screwed up now the stock market isn't used to start businesses anymore.

IPO's are used to CASH OUT, not start a business.

Used to be you want to build an automobile, you write a prospectus, do an IPO, people invest, and you build the factory.

Now

You write some malware, build a website around it, get a lot of suckers to join up, then do the IPO, and suddenly you're a BILLIONAIRE!

Like Zuckerberg.

Why sell stock at all?

He already had the malware and website and membership.

Chuckle
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#35
(05-15-2018, 12:40 PM)Luvapottamus Wrote: S&Ls were under the management of the FED too. The whole time.

Yes they were and I knew some of these people.  And I can tell you that they
were honest and fought the FED every step of the way as the FED
fought to make the changes that eventually shut them down.

They were the WHITE HATS of the financial system.

Yeah3

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#36
(05-15-2018, 12:43 PM)SouthernBelle Wrote:
(05-15-2018, 12:40 PM)Luvapottamus Wrote: S&Ls were under the management of the FED too. The whole time.

Yes they were and I knew these people.  And I can tell you that they
were honest and fought the FED every step of the way as the FED
fought to make the changes that eventually shut them down.

They were the WHITE HATS of the financial system.

Yeah3

.

I agree with that.

But savings and loans focused on mortgages.

What is the Small Business Failure Rate?
20% of small businesses fail in their first year, 30% of small business fail in their second year, and 50% of small businesses fail after five years in business. Finally, 30% of small business owners will survive their 10th year in business...

https://www.fundera.com/blog/what-percen...esses-fail

This is where fractional reserve lending comes in handy.^^^^

The bank only needs 16% of these loans to perform if you have 1/6 FRB.

If the bank needs more than 30% of the loans to perform they have to charge interest nobody can afford to pay. Businesses would go tits up from the interest alone.

I have friends who have started restaurants that succeeded and most fizzled out eventually. They were soundly conceived, soundly managed, but it's a tough business, and they eventually tanked.

Where and when you use FRL makes a lot of difference.

If you use it to loan your day trading division money to buy derivatives where they bet against your mortgage loan division you get 2007.

Chuckle
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#37
(05-15-2018, 12:59 PM)Luvapottamus Wrote: But savings and loans focused on mortgages.

Not all of them.  Many diversified and were located in
areas that supported the diversification, essentially
helping to grow the entire community.  Commercial
and residential.  Perhaps they had better market
research and a very skilled labor pool to choose from
to promote their success. But success they had and
many are still going strong today.  Some were more
'trendy' and are no longer around.  Retail anything
is more precarious for long life, and the more it
rides a trend and does not keep up with the trends,
the greater the drop in revenue.  You know how it
seems we all must constantly have something new
to obsess over!

Restaurants are especially touchy because they need
certain proven winners right out of the gate to stay
in business and have sticking power.  Location
location location comes to mind along with the
leve of expertise in the kitchen staff and the
sourcing of the raw materials.  Ambiance of
the restaurant itself is also something that does
come into play.  

Lots of market research enabled the s&l to make
good loans bringing culture and commerce to
the community which has staying power.  And
those mortgages were building bedroom
communities that for the most part are still there.

When the banks took over all hell broke loose,
as was expected by many.
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#38
The biggest criminal cartel will not go down quietly and will not honor a petition.....
"Here they defended themselves to the last, those who still had swords using them, and the others resisting with their hands and teeth."Herodotus VII, 225
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#39
(05-15-2018, 01:17 PM)SouthernBelle Wrote:
(05-15-2018, 12:59 PM)Luvapottamus Wrote: But savings and loans focused on mortgages.

Not all of them.  Many diversified and were located in
areas that supported the diversification, essentially
helping to grow the entire community.  Commercial
and residential.  Perhaps they had better market
research and a very skilled labor pool to choose from
to promote their success. But success they had and
many are still going strong today.  Some were more
'trendy' and are no longer around.  Retail anything
is more precarious for long life, and the more it
rides a trend and does not keep up with the trends,
the greater the drop in revenue.  You know how it
seems we all must constantly have something new
to obsess over!

Restaurants are especially touchy because they need
certain proven winners right out of the gate to stay
in business and have sticking power.  Location
location location comes to mind along with the
leve of expertise in the kitchen staff and the
sourcing of the raw materials.  Ambiance of
the restaurant itself is also something that does
come into play.  

Lots of market research enabled the s&l to make
good loans bringing culture and commerce to
the community which has staying power.  And
those mortgages were building bedroom
communities that for the most part are still there.

When the banks took over all hell broke loose,
as was expected by many.

Yeah3

Repeal of Glass-Steagall caused a lot of it.

But don't forget:
https://en.wikipedia.org/wiki/Keating_Five

That happened first^^^^

I don't think we're in much disagreement.

The main problem with the FED though is the fact we are financing our government by borrowing from them, money they don't even have.

Lmao

Treasury should invent the currency, then the FED can borrow it from the treasury.

Chuckle
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#40
In fact, that's almost the only thing that needs to be done:

Treasury issues United States Notes, and LOANS them to the Fed at low interest rates, so the banking system can loan it to businesses and people at reasonable interest rates.

The other thing that needs to happen:

Congress needs a ZERO PERCENT inflation mandate.

FED has a 2% inflation mandate, which causes a lot of PONZI and confusion, makes it difficult for young people to enter the marketplace.

How do you get zero percent inflation?

TAX OUT excess money.

When treasury prints too much, you tax the excess amount back out.
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