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That's true but on the other hand there's pressure for the banks to offer higher yields so eventually they will go full retard or they'll go under.
Outlawing fractional reserve banking makes no sense to me, why not let the customers decide? As long as the bank is not lying about its position.
You were wrong about QE not causing inflation and you're going to be wrong about the price inflation being temporary. As soon as the Fed does a hard pivot commodities are going to make all time highs and price inflation will as well.
A good explanation of what happened to SVB:
https://youtu.be/t5w5mk1_K3A
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"A politician will do almost anything to keep their job, even become a patriot" - Hearst
Spread the word: Gold as Unpegged Legal Tender (GAULT) | PMBug's Vault (Articles)
Spread the word: Gold as Unpegged Legal Tender (GAULT) | PMBug's Vault (Articles)
Spread the word: Gold as Unpegged Legal Tender (GAULT) | PMBug's Vault (Articles)
Michael Burry: 'We Found Our Enron'
https://www.msn.com/en-us/money/mark...19e501bc&ei=60
T.S. Eliot's The Hollow Men
"One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors." - Plato
We Are Running Out of Time - Mini Me
Originally Posted by Philhelm
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"A politician will do almost anything to keep their job, even become a patriot" - Hearst
Not that it matters couldn't have been more right. It almost reads like I had a crystal ball. And it wasn't me. I just listened to a handful of monetarists Jeremy Siegel, Steve Hanke and Scott Sumner and ripped their ideas off. It isn't even worth arguing.
From March 2021 when inflation was 2% (responding to your posts from then)
Last edited by Krugminator2; 03-13-2023 at 10:41 AM.
Yeah, but by then it was too late. I'm talking about a year earlier when covid hit and you were calling for 6 trillion in QE. Your theory is that M2 just magically goes up for no apparent reason.
Do you think inflation is under control now and not going to be a problem for the next few years?
Edit: I went and looked up the cpi numbers. The cpi started rising a couple months BEFORE you predicted it to rise!!! You need a new crystal ball.
https://www.bls.gov/charts/consumer-...line-chart.htm
Last edited by Madison320; 03-13-2023 at 10:58 AM.
1. Wasn't even close to too late. Inflation expectations were still low single digits. The Fed eased for another 14 months after I wrote that. Expectations have a large influence on inflation. You live on an isolated island society with $1 million in circulation. Someone drops another $1 million on the island. Is that always inflationary? If the people on the island think that new money is permanently in circulation prices will double quickly. If people think someone will take back the $1million they dropped on the island in a few months it will have no impact on prices.
2. I have no idea what inflation will be years down the road. That is impacted by future policy decisions. Hanke thinks 2-5% by year end. https://www.wsj.com/articles/high-in...ction-e2259a30
3. The official CPI numbers that had already been released would have been either 1.4% or 1.7%. What more do you want? Not only that, it was based off this article which was written in February of that year which is when I first mentioned it.
Last edited by Krugminator2; 03-13-2023 at 12:33 PM.
Good 'ol Massie. Look at the 7 million views.
T.S. Eliot's The Hollow Men
"One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors." - Plato
We Are Running Out of Time - Mini Me
Originally Posted by Philhelm
Ok, so you agree that if the fed doesn't reduce its balance sheet prices have a long way to go up, right?
You keep skipping the part where you were calling on the fed to print 6 trillion in early 2020. That's when it was too late.
So what do you think is going to happen with prices (specifically housing, energy, food) over the next few years?
Assuming they use the current methodology I think the CPI will be well north of 10% and commodities like copper, wheat, oil will all be at record highs.
WHAT IF I TOLD YOU
THE REAL REASON SILICON VALLEY BANK WAS FIRST
IS BECAUSE THEY ARE THE ELITES AND WERE TIPPED OFF
"When Sombart says: "Capitalism is born from the money-loan", I should like to add to this: Capitalism actually exists only in the money-loan;" - Theodor Fritsch
Great point. According an article posted above, it happened too quickly for a buyer. But we know that SVB had plenty of assets, even if they weren't liquid, and they had to take a loss to sell some of them. The price of bonds did not go to zero. And their Mortgage Backed Securities (MBS) were not in a crisis at this point. The housing market did not collapse.
Last edited by Brian4Liberty; 03-13-2023 at 01:29 PM.
"Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
"Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
"Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
"Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul
Proponent of real science.
The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.
There's no doubt that what we are seeing right now is a panic. Panics are irrational.
Peter Theil may have triggered the panic, because he saw that SVB was having problems with large transactions, and pulled all of his money out:
It's not just bank withdrawals, it's panic selling of bank stocks. And when that happens, cui bono? No doubt the (elite?) short sellers have been going crazy since last week. It's a downward spiral of greed and panic.Peter Thiel's Founders Fund had no cash left in Silicon Valley Bank by Thursday as it began to unravel, Bloomberg reported.
A source told Bloomberg the PayPal cofounder's fund had moved to close its exposure to the failing bank after running into problems using SVB's services.
The venture capital group had been engaging in a "capital call" — where it asked investment partners to send funds to invest in a company — by transferring funds to its Silicon Valley Bank account. However, the funds didn't immediately go through as expected.
Following the withdrawals, the fund no longer had any exposure to SVB as of Thursday morning, the unnamed source told Bloomberg. It wasn't clear whether the transfers happened on that day, or earlier.
SVB's share price collapsed after it revealed a $1.8 billion loss Thursday following a $21 billion fire sale of its fixed-income portfolio.
An attempt to raise $2.3 billion to cover those losses failed and the Federal Deposit Insurance Corporation shut it down and took control of customer deposits Friday.
...
https://www.businessinsider.com/pete...-report-2023-3
"Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
"Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
"Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
"Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul
Proponent of real science.
The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.
"Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
"Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
"Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
"Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul
Proponent of real science.
The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.
"Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
"Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
"Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
"Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul
Proponent of real science.
The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.
"Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
"Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
"Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
"Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul
Proponent of real science.
The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.
Charlie Gasparino on Fox Business is saying that SVB took huge risks with loans (to venture capital groups and private equity firms), so much that they should have been considered a VC firm themselves instead of an FDIC insured bank.
A lot of the stock in SBV was owned by Vanguard, Black Rock, etc. ETFs. So a lot of mom & pop investors (and probably pension funds) lost money on this collapse.
"Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
"Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
"Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
"Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul
Proponent of real science.
The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.
"When Sombart says: "Capitalism is born from the money-loan", I should like to add to this: Capitalism actually exists only in the money-loan;" - Theodor Fritsch
Do something Danke
Two rumors on Fox Business today:
- The last time JP Morgan and others bought failing banks, they got screwed. Massive liabilities. Likewise SVB appears to have a lot of bad loans out, on top of declining assets (long term debt instruments).
- Elizabeth Warren's associates are preventing the approval of a buy-out.
"Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
"Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
"Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
"Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul
Proponent of real science.
The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.
It's a myth that recession stops inflation. It's true that people spend less during a recession but they also produce less stuff. And governments tend to run much bigger deficits therefore print more money in recession. Look at countries that have had high to hyper-inflation. Their economies are always screwed up.
Continued at link: https://mises.org/power-market/id-buy-dollarI’d Buy That for a Dollar!
9 MIN AGORobert Aro
What a weekend! On Sunday morning Treasury Secretary Janet Yellen told CBS there would be no bailouts. Later that day the Fed declared Quantitative Easing to infinity and beyond.
What’s going on?
Quite simply: the Fed is willing to overpay for debt (again). They call it the Bank Term Funding Program (BTFP), and as far as one can tell, its dollar value is limitless. The term sheet reads:
Program: To provide liquidity to U.S. depository institutions, each Federal Reserve Bank would make advances to eligible borrowers, taking as collateral certain types of securities.
And who is eligible?
Any U.S. federally insured depository institution (including a bank, savings association, or credit union) or U.S. branch or agency of a foreign bank…
Basically everyone (i.e., not you or main street, just financial institutions) can take part in this legal counterfeiting operation.
T.S. Eliot's The Hollow Men
"One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors." - Plato
We Are Running Out of Time - Mini Me
Originally Posted by Philhelm
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