• Madison320's Avatar
    Today, 11:33 AM
    If they have $100 in reserves with a 10% reserve requirement I'm pretty sure they can only loan out $90 not $900.
    80 replies | 719 view(s)
  • Madison320's Avatar
    Today, 11:05 AM
    That's a good point. Those rat barbecue get togethers would be awesome! Nothing like rat over an open fire.
    112 replies | 1136 view(s)
  • Madison320's Avatar
    Today, 11:03 AM
    Did you read the part Kucinich wants to replace a Fed controlled monetary system with a government controlled monetary system?
    112 replies | 1136 view(s)
  • Madison320's Avatar
    Today, 11:00 AM
    Show me where you were called a communist. When I call Kucinich a communist, it wasn't in the "Hey, Pinko Commie" insult sense. It was in the textbook, Karl Marx sense. What the hell am I supposed to call him? "Kucinich is someone who believes in many of the principles of communism but he's not a communist."
    112 replies | 1136 view(s)
  • Madison320's Avatar
    Today, 10:55 AM
    I'll disagree with you a little on this. If Kucinich has his way the number one problem, far above anything else, is that we be dirt poor in few years. I mean, stand in line, waiting for your food ration, dirt poor. If you just judged the candidates by their official positions (which is a stretch I admit) Kucinich would be about the last one I'd vote for. I'd vote for Hillary over Kucinich. I'd vote for McCain over Kucinich. I'd rather take the chance that McCain might not blow us all up vs the 100% certainty that I'd be standing in a bread line with Kucinich.
    112 replies | 1136 view(s)
  • Madison320's Avatar
    Today, 10:40 AM
    I don't think the fractional reserve thing means one bank can lend 10x. If a bank has $100 in reserves it can loan that out to someone for 10% for example. The lender might take the $100 and deposit it in another bank but that doesn't do anything for the original bank. So that bank could get 10% but there's risk that they might not get paid back. So I have know idea what the actual return is. The part about treasuries is a good point, maybe it's because of the risk? I just looked it up and the 2 year t bill is 1.45%. I'm not sure how much risk is in a 2 year t bill. Probably not much. Remember when you buy treasuries you're in it for the duration whereas I'm assuming the banks can take the money out of the Fed's reserve bank at any time. But 1.25% seems really low. Maybe there's some quid pro quo going on. Maybe the banks got bailed out with the agreement they would keep their money at low rates in reserve?
    80 replies | 719 view(s)
  • Madison320's Avatar
    Yesterday, 07:14 PM
    I'm not sure where you're getting the 10x number. That seems almost impossible. Also remember there's a huge amount of risk when you loan money. The banks are getting 1.25% risk free. That still seems a little low however.
    80 replies | 719 view(s)
  • Madison320's Avatar
    Yesterday, 07:11 PM
    Let's see if you stick to your theory when the economy implodes under Trump. And as I've replied, that's an argument in favor of my position, not yours. If the QE had all entered the system and prices had not gone up then you'd probably be right. But most of it is sitting in reserves, and it can't sit there forever. Money has to be spent eventually or else it's worthless.
    80 replies | 719 view(s)
  • Madison320's Avatar
    Yesterday, 07:06 PM
    That's true but eventually the money has to enter the system unless the Fed unwinds it before it gets out, which has never happened to any degree in history. Money is no good if it's just sitting in your vault forever. The banks didn't trade assets for money that they are not allowed to spend. Would you sell your car if the condition was that you could never touch the cash you got for it?
    80 replies | 719 view(s)
  • Madison320's Avatar
    Yesterday, 04:31 PM
    I have no earthly idea what you're talking about. You think Kucinich's first step would be to end the Fed and go to a free market banking system? And then step two would be to nationalize the banking system? Ha! Ha! Ha! Not a chance in hell! He would much prefer The Fed to a free market banking system. He wants MORE government control over banks not LESS. The only way he would end the fed would be a direct move to a government controlled system. On a slightly different topic, calling someone a communist is not an insult, it's merely a factual description. And I never called Ender a communist I called Kucinich a communist. Do some research on communism and Kucinich's positions.
    112 replies | 1136 view(s)
  • Madison320's Avatar
    Yesterday, 04:02 PM
    Whatever. Also I've been researching Kucinich's position on the Fed. It looks like he wants to replace the Fed not with a free market banking system but with CONGRESS!!!!! So basically it appears Kucinich wants a government takeover of the entire banking system. http://www.zerohedge.com/article/guests-contrarian-take-dennis-kucinichs-recent-attempt-end-fed I remember some idiots in congress talking about how terrible the Fed is and how it sucks that we have to pay interest on the money we borrow. They said "if we could only print the money ourselves we wouldn't have to pay interest." I'm wondering if Kucinich was one of those guys.
    112 replies | 1136 view(s)
  • Madison320's Avatar
    Yesterday, 03:37 PM
    Nightmare is an accurate term. I've always thought Ender had a left wing streak in him and this confirms it. I'm guessing things like progressive taxation don't bother him a bit. This thread is reminding me of the Seinfeld episode where they meet a guy who's a communist, and everybody is saying ,"Wow, cool you're a communist? I never met one of those before!"
    112 replies | 1136 view(s)
  • Madison320's Avatar
    Yesterday, 03:12 PM
    I think Kucinich and Paul both like the color blue, maybe Kucinich is ok after all. That little communist thing is no big deal.
    112 replies | 1136 view(s)
  • Madison320's Avatar
    Yesterday, 03:06 PM
    Good point. It really irritates me that many people in this forum still deny that printing money devalues the currency. And it does it in proportion to the amount printed. People argue that printing money causes "imbalances" but it doesn't necessarily devalue the currency. If that were true you could always fix any imbalances by printing. The fact is that printing money always devalues the currency, but it doesn't always show up right away in prices.
    80 replies | 719 view(s)
  • Madison320's Avatar
    Yesterday, 02:58 PM
    I know I was just being a little sarcastic. But seriously, Kucinich seems to be a pretty hard core socialist/borderline communist. He's so horribly bad on so many issues that there's no way the positives can outweigh the negatives. That's like a serial killer who helps old ladies cross the street. Then there's McCain. Hmm. That's a tough one. I think I'd still take McCain over Kucinich. I'll bet if you looked at the voting record Kucinich is WAY more socialistic than McCain. And I doubt that McCain supports a total ban on handguns (yikes!). So the question would be does McCain's war mongering outweigh Kucinich's communism? That's why I joked "Excluding McCain" earlier.
    112 replies | 1136 view(s)
  • Madison320's Avatar
    Yesterday, 02:49 PM
    That's why I don't vote for republicans or democrats, I vote libertarian.
    112 replies | 1136 view(s)
  • Madison320's Avatar
    Yesterday, 01:55 PM
    Man-Made global warming pales in comparison to Dinosaur-Made global warming. Those damn dinosaurs melted the polar caps.
    7 replies | 169 view(s)
  • Madison320's Avatar
    Yesterday, 01:52 PM
    No sir, that was a factual question. Read Kucinich's position one more time, very slowly. He's a communist. OK, I'll be nice. He's a very extreme socialist. Believes health care is a right and supports universal health care. Wants to ban all handguns. Supports "free" education all the way thru college. Opposes free trade. Basically wants to take over farming. Favors a steeply progressive tax, the second plank of the communist manifesto.
    112 replies | 1136 view(s)
  • Madison320's Avatar
    Yesterday, 01:46 PM
    Printing money. QE. Increases in the monetary base. It's all the same thing. What difference does it make? What do you call increases in the monetary base before 2008? Dang. This is at least the 5th time you've been wrong about this. The monetary base is what drives the money supply. And as I've told you at least 5 times previously, even the Fed defines the monetary base as one type of money supply. They call it high powered money, because small changes in the base get multiplied. The monetary base is the amount of money that's been printed. In 1971 the base was about 70 billion. In 2008 before massive QE it was almost 900 billion. That means the base is 12 times bigger in 2008 than it was in 1970 and that's why prices also went up by around that much. It wasn't an increase in population as you suggested.
    80 replies | 719 view(s)
  • Madison320's Avatar
    Yesterday, 01:19 PM
    I'm confused. Which part of communism are you ok with?
    112 replies | 1136 view(s)
  • Madison320's Avatar
    Yesterday, 01:12 PM
    I have to admit that the results as a group of each party seem to be pretty close, despite that fact that on an individual basis, the worst republican is probably better than the best democrat. And my Gary Johnson vote is looking better all the time.
    112 replies | 1136 view(s)
  • Madison320's Avatar
    Yesterday, 12:48 PM
    That's true to a point but it's more like herpes vs losing your arms and legs. My point not that republicans are good but how remarkably bad democrats are.
    112 replies | 1136 view(s)
  • Madison320's Avatar
    Yesterday, 12:44 PM
    I think one reason you think Kucinich is not that bad is because you seem to put a much higher emphasis on civil liberty vs economic liberty, especially the economic liberty of the most productive. Personally I think while they are both important, if I had to choose I'd take economic liberty first. At least if my property rights are protected I can afford to take a trip to Amsterdam and smoke weed every once in awhile. If Kucinich had his way none of us would even be able to afford weed. We'd all be worried about food, shelter and clothing. For the third time Kucinich: Believes health care is a right and supports universal health care. Wants to ban all handguns.
    112 replies | 1136 view(s)
  • Madison320's Avatar
    Yesterday, 10:14 AM
    I think I've had more arguments with Zippy about the fact that QE devalues the dollar than anyone in this forum. One time I kept asking him (over and over, you know Zippy!) what was the main reason prices have gone up so much over the last 50 years. My point was that the increase was far and away due to the increase in the monetary base, which is QE, which is printing money. He claimed that the monetary base has little effect on increasing prices and finally claimed it was the increase in population that was the main factor!
    80 replies | 719 view(s)
  • Madison320's Avatar
    Yesterday, 09:55 AM
    I really curious to know what Zippy thinks Obama did to create that tremendous recovery. Was it the tax hikes? Obamacare? Constant threats to steal from the wealthy? Military strikes? Magic?
    80 replies | 719 view(s)
  • Madison320's Avatar
    Yesterday, 09:50 AM
    From what I remember Zippy might've mildly stated we don't need more QE, but he loudly claimed, over and over that there are no after effects from QE.
    80 replies | 719 view(s)
  • Madison320's Avatar
    Yesterday, 09:23 AM
    What economic policies did Obama implement that created the "recovery"? What was the point of that comment?
    80 replies | 719 view(s)
  • Madison320's Avatar
    Yesterday, 09:22 AM
    At least that's progress. I remember when it used to be 500-1. And you can guess who the "1" was.
    112 replies | 1136 view(s)
  • Madison320's Avatar
    Yesterday, 09:19 AM
    Exactly. I've said that many times. Socialist's core principle is theft. That's not a good foundation.
    112 replies | 1136 view(s)
  • Madison320's Avatar
    Yesterday, 09:16 AM
    I don't think agreeing with Ron Paul on one thing forgives the fact that he's a communist: Believes health care is a right and supports universal health care. Wants to ban all handguns. Supports "free" education all the way thru college. Opposes free trade. Basically wants to take over farming. Favors a steeply progressive tax, the second plank of the communist manifesto. Again, I'm not saying I like the republican party. I don't. I don't vote for them. All I'm saying is that as bad as the republicans are, the democrats are MUCH worse.
    112 replies | 1136 view(s)
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