You're not making sense. Who is the economist? Who is the commie? What is classis? Back to what I said (the terrible business of reality for you). We know that right wing libertarianism is bankrolled by the rich. Its therefore not surprising that you get a created herd who are incapable of understanding the rent seeking behaviour that they support.
Haha, yeah they caught me and taught me to leave people alone to make their own decisions. Crazy, right?
Nope, they taught you to roll over and allow elitism to go unchallenged. See, for example, your chum who bogusly calls himself an anarchist. He couldn't be further away!
I thought as much! Stop telling folks to leave people alone and allow them to make their own decisions! You must worship government interventionalism! War is good! Value is objective and you will be told what something is worth! Do not allow free exchange of products! Don't you know, people are too stupid to know what their own needs are?
wrong of course fractional reserve banking is natural since depositors naturally want to earn interest on their money. Do you understand?
Ah, so they want to be lenders. Being a lender is risky. I sure hope they know what they're doing and that they don't expect any special treatment (I'm looking at you FDIC) if their creditor is unable to pay them their money back.
why change the subject??? The guy did not understand what FRB was now maybe he does.I don't mind FDIC t prevent runs though but thats another subject isn't it.
I wasn't changing the subject. I was responding to your idea that bank customers like to loan banks their money at interest. Personally, I consider loaning one's money to be risky, especially if one needs that money to pay rent. However, I think people should be free to make their own business decisions, even it it means that they may lose their money. But they shouldn't expect to be bailed out.
Yes, many of our Founders were very rich and very libertarian. It seems to have worked well enough to include saving civilization through two world wars
Maybe I don't. I thought FR was the issuing of government bonds for redemption at some vague time in the future?
It's when the bank creates money out of thin air, because they take someone else's money and lend it to someone else, but the first person still has "money" in their bank account. The question ultimately is, does that "money" lead to inflation? It's a pretty mind-bending question to answer.
You've gone off on one again. Don't you think the rich elite has more of a motive than just pandering to the sheep?
My original quote was: I think if there's not an expectation that money is going to be paid back, there's going to be inflation. So yes, you are right to a certain degree.
Not mindbending the tiniest little bit. As long as the Federal Reserve Bank controls the amount of money in circulation there can be no inflation. Do you understand this now?
Very little money is borrowed from the Fed. There are provisions for short term loans, but those facilities are not often used, for relatively small amounts, and for short term. Almost all the Fed's holdings are US government debt purchased on the open market. In the GR it purchased some US Govt guaranteed mortgages too.