DC Tom Posted December 18, 2015 Share Posted December 18, 2015 The bankERS themselves, as Iceland continues to demonstrate. Edited key word: typing on the run. Yeah...probably not. Iceland's kind-of a special case, considering that their entire banking industry is about a tenth the size of Citi. Link to comment Share on other sites More sharing options...
GG Posted December 18, 2015 Share Posted December 18, 2015 The bankERS themselves, as Iceland continues to demonstrate. Edited key word: typing on the run. You could not have picked a worse example Link to comment Share on other sites More sharing options...
Deranged Rhino Posted December 18, 2015 Share Posted December 18, 2015 Yeah...probably not. Iceland's kind-of a special case, considering that their entire banking industry is about a tenth the size of Citi. It's not apples to apples, but it's surprising a lot of folks who predicted them to crater. They've grown faster than any other economy in Europe. But yes, it's a much smaller scale than the world's biggest economy. Link to comment Share on other sites More sharing options...
DC Tom Posted December 18, 2015 Share Posted December 18, 2015 It's not apples to apples, but it's surprising a lot of folks who predicted them to crater. They've grown faster than any other economy in Europe. But yes, it's a much smaller scale than the world's biggest economy. More to the point...when an Icelandic bank goes under - or when ALL the Icelandic banks go under - Icelandic companies have other alternatives for financing. When the major world banks become illiquid and the entire capital market crashes and major employers can't float commercial paper to make payroll...bankers don't suffer nearly as bad as the public. Which is what came close to happening in '08. Link to comment Share on other sites More sharing options...
GG Posted December 18, 2015 Share Posted December 18, 2015 More to the point...when an Icelandic bank goes under - or when ALL the Icelandic banks go under - Icelandic companies have other alternatives for financing. When the major world banks become illiquid and the entire capital market crashes and major employers can't float commercial paper to make payroll...bankers don't suffer nearly as bad as the public. Which is what came close to happening in '08. Make him do his own homework Link to comment Share on other sites More sharing options...
DC Tom Posted December 19, 2015 Share Posted December 19, 2015 Make him do his own homework He's had seven years. If he hasn't done it by now, he's not going to. Link to comment Share on other sites More sharing options...
Tiberius Posted December 19, 2015 Author Share Posted December 19, 2015 None of that makes his academic work on the Fed any more or less truthful. Nor is he the only academic who acknowledges the Federal Reserve is not a part of the US Government... Something you'd realize if you did the homework for yourself rather than sticking to the erroneous position that the Federal Reserve is an agency or branch of the government because it's what you "know" to be the truth. Remember when you "knew" no Europeans ever owned guns before? Yeah, this is like that. You're wrong. You've been wrong since the start. Yes, he is a 9-11 truther, thinks the CIA, Nixon, LBJ, Reagan and my aunt Minnie conspired to killed Kennedy, wants cancer patients to drink a magic potion to cure them, thinks HIV is a fraud and now he is comparing the Federal Reserve to a banana cartel! Bananas??? He has zero credibility at all. I'm sort of surprised you didn't connect the dots to the petro-dollar conspiracy Link to comment Share on other sites More sharing options...
Deranged Rhino Posted December 20, 2015 Share Posted December 20, 2015 (edited) Yes, he is a 9-11 truther, thinks the CIA, Nixon, LBJ, Reagan and my aunt Minnie conspired to killed Kennedy, wants cancer patients to drink a magic potion to cure them, thinks HIV is a fraud and now he is comparing the Federal Reserve to a banana cartel! Bananas??? He has zero credibility at all. I'm sort of surprised you didn't connect the dots to the petro-dollar conspiracy He only one lacking credibility is the person trying desperately to cling to his belief that the Fed is a part of the us government because it has the word federal in its title. Edited December 20, 2015 by Deranged Rhino Link to comment Share on other sites More sharing options...
Tiberius Posted January 5, 2016 Author Share Posted January 5, 2016 The Federal Reserve is not a part of the US government, it's not a government agency. Chef says it's part of the government Link to comment Share on other sites More sharing options...
Chef Jim Posted January 5, 2016 Share Posted January 5, 2016 Chef says it's part of the government So is the White House cafeteria. Link to comment Share on other sites More sharing options...
Deranged Rhino Posted January 5, 2016 Share Posted January 5, 2016 Chef says it's part of the government Incorrect. He said it was both. Link to comment Share on other sites More sharing options...
Tiberius Posted January 5, 2016 Author Share Posted January 5, 2016 So is the White House cafeteria. But Greggy says the fed isn't part of it at all. And Tom thinks only the people with operational control, management, authority and power are part of the government. So you guys disagree Incorrect. He said it was both. And you said not part of government, he says government does play a role Link to comment Share on other sites More sharing options...
Chef Jim Posted January 5, 2016 Share Posted January 5, 2016 But Greggy says the fed isn't part of it at all. And Tom thinks only the people with operational control, management, authority and power are part of the government. So you guys disagree And I don't give a !@#$ what Greggy and Tom say. See I can think for myself. Link to comment Share on other sites More sharing options...
DC Tom Posted January 5, 2016 Share Posted January 5, 2016 And Tom thinks only the people with operational control, management, authority and power are part of the government. You really have no idea how the Federal Reserve system works. Link to comment Share on other sites More sharing options...
Tiberius Posted January 6, 2016 Author Share Posted January 6, 2016 You really have no idea how the Federal Reserve system works. I have a much better handle on it than you clowns do. Do you understand it better than chef? He thinks you are wrong! Oh, and Go Sabres! Time to watch! Link to comment Share on other sites More sharing options...
Chef Jim Posted January 6, 2016 Share Posted January 6, 2016 I have a much better handle on it than you clowns do. Do you understand it better than chef? He thinks you are wrong! Oh, and Go Sabres! Time to watch! I think you're all wrong. Link to comment Share on other sites More sharing options...
Deranged Rhino Posted January 6, 2016 Share Posted January 6, 2016 And you said not part of government, he says government does play a role And I never said government doesn't play a role... again, different people have different opinions. But facts are facts. And the fact is that the Federal Reserve Board of Governors is not the Federal Reserve. The Federal Reserve is a collection of private banks working together (rather than competing). These private banks are 100% independent from the federal government and serve their own interests above all else, they are in no way a branch or agency of the United States Government... the US Government is their partner/client. History and common sense show this to be true. Even your own sources are telling you this is true, you just can't/won't take the time to read what's actually said in the sources you're linking. I have a much better handle on it than you clowns do. Again, so far the evidence you've presented contradicts this conclusion. Link to comment Share on other sites More sharing options...
Tiberius Posted January 6, 2016 Author Share Posted January 6, 2016 I think you're all wrong. But you are only arguing with me. You are afraid of Tom Link to comment Share on other sites More sharing options...
Deranged Rhino Posted January 6, 2016 Share Posted January 6, 2016 But you are only arguing with me. You are afraid of Tom Link to comment Share on other sites More sharing options...
DC Tom Posted January 6, 2016 Share Posted January 6, 2016 I have a much better handle on it than you clowns do. Do you understand it better than chef? He thinks you are wrong! Oh, and Go Sabres! Time to watch! No, you really don't. Your apparent understand is that the Federal Reserve is some monolithic central banking organization that exerts direct control over over the financial activities of member banks. It's not. It's a diffuse system (not even an organization, really) of relationships, privately funded, consisting mostly of private institutions save for the Board of Governors, who are only empowered to make broad policy decisions. Which is why Wells Fargo can be part of the Federal Reserve (which they are), but not part of the federal government - they're not only not on the Board, they're insulated from direct representation on the Board by the Federal Reserve Banks, which are non-profit and private. The irony being that your apparent understanding is far, far closer to the typical "conspiracy understanding" that you accuse us of having. You have a truly amazing ability to be, not just completely wrong, but to be completely wrong across multiple dimensions of wrongness. You're so wrong, it defies classical definitions of wrongness...I would have to invent a whole new theory of relativistic quantum wrongness to adequately explain how wrong you are. And thanks for the Sabres reminder. I'd completely forgot. Link to comment Share on other sites More sharing options...
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