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#21
02-17-2007, 06:09 PM
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Re: AC and fractional reserve banking
Well, we do all use the same currency to pay all debts, public and private, regardless of the fact that there were once many different dollars from many different regional and local banks, don't we?
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#22
02-17-2007, 06:11 PM
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Re: AC and fractional reserve banking
[ QUOTE ]
Here's some food for thought...perhaps the USA of today is the result of the AC wonderland of decades gone by. [/ QUOTE ] Which decades would those have been...? [img]/images/graemlins/confused.gif[/img]
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#23
02-17-2007, 06:13 PM
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Re: AC and fractional reserve banking
[ QUOTE ]
[ QUOTE ] Uh.....wrong. The bank depends on interest . Therefore it is in the interest of the bank to keep the lending going as long as possible in order for the most money to be collected. If everyones assets are devalued through fiat currency , the bank will be out of business in no time and customers will take their business to a bank which isn't bankrupt. [/ QUOTE ] [/ QUOTE ] I would like to bestow upon this post a yellow sticky of appreciation for cleverness. However, I have to ask you, what would happen if all the banks got together and colluded? Would the situation in the banking industry start to look like what we have today, with 100 dollar bills being printed for $.02 a bill flooding the world? What if there were no such thing as a bank which wasn't bankrupt?
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#24
02-17-2007, 06:17 PM
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Re: AC and fractional reserve banking
[ QUOTE ]
[ QUOTE ] Here's some food for thought...perhaps the USA of today is the result of the AC wonderland of decades gone by. [/ QUOTE ] Which decades would those have been...? [img]/images/graemlins/confused.gif[/img] [/ QUOTE ] Alex, I'll go with decades prior to 1913 for $1000.
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#25
02-17-2007, 06:20 PM
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Re: AC and fractional reserve banking
[ QUOTE ]
Well, we do all use the same currency to pay all debts, public and private, regardless of the fact that there were once many different dollars from many different regional and local banks, don't we? [/ QUOTE ] And why do you think that is?
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#26
02-17-2007, 06:27 PM
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Re: AC and fractional reserve banking
[ QUOTE ]
However, I have to ask you, what would happen if all the banks got together and colluded? [/ QUOTE ] Shel Silverstein FTW [ QUOTE ] Last night, while I lay thinking here, some Whatifs crawled inside my ear and pranced and partied all night long and sang their same old Whatif song: Whatif I'm dumb in school? Whatif they've closed the swimming pool? Whatif I get beat up? Whatif there's poison in my cup? Whatif I start to cry? Whatif I get sick and die? Whatif I flunk that test? Whatif green hair grows on my chest? Whatif nobody likes me? Whatif a bolt of lightning strikes me? Whatif I don't grow talle? Whatif my head starts getting smaller? Whatif the fish won't bite? Whatif the wind tears up my kite? Whatif they start a war? Whatif my parents get divorced? Whatif the bus is late? Whatif my teeth don't grow in straight? Whatif I tear my pants? Whatif I never learn to dance? Everything seems well, and then the nighttime Whatifs strike again! [/ QUOTE ]
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#27
02-17-2007, 07:17 PM
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Re: AC and fractional reserve banking
[ QUOTE ]
[ QUOTE ] [ QUOTE ] Here's some food for thought...perhaps the USA of today is the result of the AC wonderland of decades gone by. [/ QUOTE ] Which decades would those have been...? [img]/images/graemlins/confused.gif[/img] [/ QUOTE ] Alex, I'll go with decades prior to 1913 for $1000. [/ QUOTE ] I'm sorry, I recall there being a government (and a growing one, at that) in those decades prior to 1913. Please try again.
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#28
02-17-2007, 07:45 PM
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Re: AC and fractional reserve banking
[ QUOTE ]
[ QUOTE ] [ QUOTE ] Uh.....wrong. The bank depends on interest . Therefore it is in the interest of the bank to keep the lending going as long as possible in order for the most money to be collected. If everyones assets are devalued through fiat currency , the bank will be out of business in no time and customers will take their business to a bank which isn't bankrupt. [/ QUOTE ] [/ QUOTE ] I would like to bestow upon this post a yellow sticky of appreciation for cleverness. However, I have to ask you, what would happen if all the banks got together and colluded? [/ QUOTE ] Again: What would happen if all the poker sites got together and colluded... They would leave a huge gaping hole of opportunity for a newcomer and also an enormous incentive for one of the guys that colluded to step out of it and serve the customer.
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#29
02-19-2007, 08:51 AM
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Re: AC and fractional reserve banking
[ QUOTE ]
[ QUOTE ] Well, YOU managed to figure it out, didn't you??? [/ QUOTE ] I may be able to correct my ignorance through educating myself, but you'll always be cheap. [/ QUOTE ] And once again, Pvn makes a valid point and instead of receiving a valid response, receives an attack with the point left ignored.
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#30
02-19-2007, 09:27 AM
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Re: AC and fractional reserve banking
This kind of thing is why I believe AC can only work for a small, homogenous subset of the current US population. If most of the members of the society understand the evils of fractional reserve banking, it can never get off the ground. These banking parasites would have to go elsewhere to find a host.
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