Dakryn's Batshit Theory of the Week
- Thread starter Ender Rises
- Start date
Jimmy... Dead.
contemplative curmudgeon
@Cyth You make some good points and most people on this board should not have a hard time agreeing with most of your views...
However, abolishing the Fed Reserve is not one that I believe we should engage. I understand the failures of the Fed and it Board Chairmens' actions over the past 30 years causing the major financial crisis this country has faced. But, the Fed does have a serious and important role in our economic system.
My history and college education tells me that the Fed was founded by Congress to provide stability in the banking system and the economy by:
1) serving as the one clearinghouse for all negotiable instruments passed by businesses in the US and aboard
2) serving as the custodian of US currency (the US Treasury prints the currency)
3) serving as a bank to banks
4) serving as the financial arm of the US Government in relation to foriegn banks and governments.
My history further tells me the Fed regulated the credit extended to any bank by another bank, and by the Fed to any bank. In the 30's - 60's, a majority of credit issued to US businesses and individuals came from the banks regulated by the Fed, the US Treasury, and state banking commissions. In the late 60's other sources of credit were made available to those in our economy and the world - namely companies like GE, GMAC, Ford, Sears, JC Penney, oil companies, etc.
The Fed had no control over those credit lines like it had over bank credit. Then the credit card industry erupted with VISA, MasterCard, American Express, etc. In the 90's and this decade, new sources of mortgage monies poured into the country from overseas and from local investment houses. Again, the Fed did not have authority to regulate those sources of credit. Congress, not the Fed, encouraged subprime mortgage markets and forced the banks to absorb most of the credit risks.
All i'm saying is that we should probably stop calling a car manufacturer a bank and give the Fed the authority to regulate credit through the banking system by prohibiting non-regulated companies from creating credit.
IMHO this would Strengthen the regulatory process of the banking industry and get security houses and insurance companies out of doing what banks should be doing.
However, abolishing the Fed Reserve is not one that I believe we should engage. I understand the failures of the Fed and it Board Chairmens' actions over the past 30 years causing the major financial crisis this country has faced. But, the Fed does have a serious and important role in our economic system.
My history and college education tells me that the Fed was founded by Congress to provide stability in the banking system and the economy by:
1) serving as the one clearinghouse for all negotiable instruments passed by businesses in the US and aboard
2) serving as the custodian of US currency (the US Treasury prints the currency)
3) serving as a bank to banks
4) serving as the financial arm of the US Government in relation to foriegn banks and governments.
My history further tells me the Fed regulated the credit extended to any bank by another bank, and by the Fed to any bank. In the 30's - 60's, a majority of credit issued to US businesses and individuals came from the banks regulated by the Fed, the US Treasury, and state banking commissions. In the late 60's other sources of credit were made available to those in our economy and the world - namely companies like GE, GMAC, Ford, Sears, JC Penney, oil companies, etc.
The Fed had no control over those credit lines like it had over bank credit. Then the credit card industry erupted with VISA, MasterCard, American Express, etc. In the 90's and this decade, new sources of mortgage monies poured into the country from overseas and from local investment houses. Again, the Fed did not have authority to regulate those sources of credit. Congress, not the Fed, encouraged subprime mortgage markets and forced the banks to absorb most of the credit risks.
All i'm saying is that we should probably stop calling a car manufacturer a bank and give the Fed the authority to regulate credit through the banking system by prohibiting non-regulated companies from creating credit.
IMHO this would Strengthen the regulatory process of the banking industry and get security houses and insurance companies out of doing what banks should be doing.
Prismatic Sphere
We Carouse
Dak
mentat
Those weren't accidental "failures". The boom and bust cycle is in favor of the house, which is the banks, who just happen to also provide the people to the various economic positions in government. Quite a neat game to have rigged. One worth billions of fiat cash.
Dak
mentat
Badbird
Never banned
Valerie
¯\(ã)/¯
- Aug 29, 2005
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V.V.V.V.V.
Houses Ov Mercury
wut
Matt
Active Member
Why wouldn't they? If there weren't any rules in place to prevent it, why wouldn't they want to maximize profits?
Einherjar86
Active Member
It wouldn't make sense for them to take advantage of the customers who are their only means to make a profit. Competition will keep them affordable, and if they (for some fantastical reason) choose to band together so that they could charge whatever they wanted, they would soon find that no one could make payments and they'd have anarchy on their hands.
It strikes me as odd that everyone assumes those in financially enviable positions will always do everything in their power to exploit and do harm to the "little people."
It strikes me as odd that everyone assumes those in financially enviable positions will always do everything in their power to exploit and do harm to the "little people."
V.V.V.V.V.
Houses Ov Mercury
Matt
Active Member
You are delirious with political ideology
Obviously, in a situation like that, the two or three banks we're discussing wouldn't charge exorbitantly high prices, but higher prices than a free/pure/uninhibited market would dictate. Thus maximizing profit.
Einherjar86
Active Member
I'm not saying it doesn't happen, only criticizing that so many people seem to think it's a universal trend (i.e. that all wealthy people are just bad, evil people).
Mathiäs;9398339 said:You are delirious with political ideology
I'm confused. What do you mean by "free/pure/uninhibited" market?
Dak
mentat
Mathiäs;9398339 said:You are delirious with political ideology
And then a new source of competition of be created and undercut them, forcing them to lower prices or offer more services for existing prices. The last part of your post didn't match the beginning.
Badbird
Never banned
Not surprising. That all they do over there. Speaking of political shows, Real Time with Bill Maher is better than I thought it was. He not as leftist as the Republicans think he is. He bashes Obama and his crew lot. One of the few shows about politics along with Daily Show, Colbert Report, and Cspan, that worth watching.
zabu of nΩd
Free Insultation
- Feb 9, 2007
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when did MOSS decide to start attempting to engage people in mature conversations? is this some sort of last ditch effort of his to get people to take him seriously?
Cythraul
Active Member
- Dec 10, 2003
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Actually, in certain cases bashing Obama is confirmation of one's leftist credentials.
Regarding the subject of cartelization, some of you seem to be assuming that cartels would actually be stable in a free market. That is far from obvious.
Prismatic Sphere
We Carouse
If any of you are naive enough to think of Bill Maher as an independent thinker, let alone a libertarian you don't know shit about ANYTHING.
Bullshit. Dogshit. PoGoStickFuck.
As I posted on another forum:
I have watched many of his shows; Politically Incorrect AND "REAL" TIME alike.
-He is indeed a political pundit. Anyone who has senators and congressmen on his show regularly either in person or via simulcast is not doing a comedy show, however much trying for laughs illicits.
-He does not retain his composure throughout his panel discussions. If you steal his thunder for even a second; he will turn on you like the spineless, sniveling, zionist, liberal weasel that he is. I have observed this countless times.
-He is not funny. Occasionally(and pretty rare) he comes up with a funny no doubt written by someone less smarmy and full of shit. So to call it a comedy show is indeed more resembling of a funny joke than anything from Billy Boy. The only exception is when he's had actual COMEDIANS on, like George Carlin.
-He used to call himself a Libertarian and I was embarrassed for the Libertarian Party. Bill Maher was and is the furthest thing from a libertarian.
He is as anti-capitalist as many of you cats and he's anti-2nd Amendment. And that's just the tip of the iceberg.
He later stopped saying he was Libertarian once people started knowing who libertarians were and realizing that he would be called out on his shit.
I remember when he had Harry Browne on his show in 2000 and one woman brought up their differences on guns and he shut the fuck up and changed the subject.
-He was shitcanned from ABC for his remarks because we were trumatized as a nation. Now I am against ANY form of censorship; but the reasons were not as political as usual. We were all having very primal and raw feelings at that time, our blood boiled, and we were more united than we have been in my lifetime(albeit for a very brief moment).
-He is probably the biggest hypocrite in the media and I could give countless examples. But let's start with this one:
If he likes to segue into bashing religion(which is fine by me), why not attack Obama(since he won't attack him as a fuckin' socialist) on his very devout religious beliefs???
Oh and sidenote: He picked some really retarded people for his film and as a result really isn't anything special.
Fuck Bill Maher. He IS a liberal puppet and a cartoon of himself. That is, he IS a cartoon. And a painfully unfunny one at that.
Bullshit. Dogshit. PoGoStickFuck.
As I posted on another forum:
I have watched many of his shows; Politically Incorrect AND "REAL" TIME alike.
-He is indeed a political pundit. Anyone who has senators and congressmen on his show regularly either in person or via simulcast is not doing a comedy show, however much trying for laughs illicits.
-He does not retain his composure throughout his panel discussions. If you steal his thunder for even a second; he will turn on you like the spineless, sniveling, zionist, liberal weasel that he is. I have observed this countless times.
-He is not funny. Occasionally(and pretty rare) he comes up with a funny no doubt written by someone less smarmy and full of shit. So to call it a comedy show is indeed more resembling of a funny joke than anything from Billy Boy. The only exception is when he's had actual COMEDIANS on, like George Carlin.
-He used to call himself a Libertarian and I was embarrassed for the Libertarian Party. Bill Maher was and is the furthest thing from a libertarian.
He is as anti-capitalist as many of you cats and he's anti-2nd Amendment. And that's just the tip of the iceberg.
He later stopped saying he was Libertarian once people started knowing who libertarians were and realizing that he would be called out on his shit.
I remember when he had Harry Browne on his show in 2000 and one woman brought up their differences on guns and he shut the fuck up and changed the subject.
-He was shitcanned from ABC for his remarks because we were trumatized as a nation. Now I am against ANY form of censorship; but the reasons were not as political as usual. We were all having very primal and raw feelings at that time, our blood boiled, and we were more united than we have been in my lifetime(albeit for a very brief moment).
-He is probably the biggest hypocrite in the media and I could give countless examples. But let's start with this one:
If he likes to segue into bashing religion(which is fine by me), why not attack Obama(since he won't attack him as a fuckin' socialist) on his very devout religious beliefs???
Oh and sidenote: He picked some really retarded people for his film and as a result really isn't anything special.
Fuck Bill Maher. He IS a liberal puppet and a cartoon of himself. That is, he IS a cartoon. And a painfully unfunny one at that.
Cythraul
Active Member
- Dec 10, 2003
- 6,755
- 133
- 63
Prismatic Sphere
We Carouse
Also let me add:
On religion and civil liberties, Bill Maher is 100% right. On everything else, he is 100% wrong.
I'm smart enough to know that freedom of economics IS a civil liberty. And if Bill Maher is a libertarian, I'm the Trix Rabbit.
On religion and civil liberties, Bill Maher is 100% right. On everything else, he is 100% wrong.
I'm smart enough to know that freedom of economics IS a civil liberty. And if Bill Maher is a libertarian, I'm the Trix Rabbit.
