@Quintars I'll tell you what. Find a credible professional economist with published results showing any of this and I'll consider it. I've been studying economics for about 20 years and understand quite well how fiat money works. I've never seen any published economic theory or empirical result showing fiat money is inherently a problem. Quite conversely, it solves many but with trade-offs. I see plenty of tin-foil hattests assert it's a problem though. Tells you something.
@Quintars well yes anyone who knows what global trade is knows that Canada will go down in such a situation. It's fun to learn the history of paper money and try to predict the future with it but there are only limited things a Canadian central banker can do. Carney has warned us about high levels of personal debt in Canada and possible damaging scenarios to the Canadian economy, that's his job. That's a lot more than Bernanke would say
@Quintars I don't really get such thinking. "Backing" isn't inherently good; it is a trade-off. Fiat currency tends to be more stable over time and since it isn't tied to commodities it isn't subject to the volatility of those markets and technology, nor those uncertainties when financial planning. Commodity money inherently deflates over time. Fiat money can be adjusted by printing more for investment. Commodity money (e.g., gold) has huge transactional costs. It's a trade-off.
Give the guy a break, he's doing a good job. Canada is a small economy on the world stage and I'm sure if Carney were a "Goldman ahole" then Canadian banks would probably be writing CDS as aggressively as the Americans do. I'm sure if one would go and visit many other countries in the world they would see how fair Canada is. It could be more fair but still pretty good
There was never "too big to fail" there still isn't.
The worst that would happen is the banks themselves would go under (good) and there would be a harsh year, two at the most.
The world economy did not spiral down because Lehman failed. Thats absolute garbage. We've been suffering because the other banks HAVEN'T failed. The nearly 70% rise in commodities + energy comes from the nearly 14 trillion the Fed printed for their back door bailouts.
Bring back the trust busters. Dump the massive corporations and force them into sustainable mass moderate corporations. This drives up competition based on quality and keeps us out of the to big to fail dilemma. Companies success are then based on performance and not on back room monopoly formation.
The Governor is doing a fantastic job and I'm proud to have someone as intellegent as he is to represent all Canadians in this Economy. People listen when he has something to say, he's been on the other side and knows what needs to be done and how to do it. I trust that he will also do a great job as Head of the FSB. I wish him all the best!
Steady hand? Inequalities in wealth is increasing tremendously in Canada. We have to look at our current economic policies and establish more fair economic system.
@Quintars I'll tell you what. Find a credible professional economist with published results showing any of this and I'll consider it. I've been studying economics for about 20 years and understand quite well how fiat money works. I've never seen any published economic theory or empirical result showing fiat money is inherently a problem. Quite conversely, it solves many but with trade-offs. I see plenty of tin-foil hattests assert it's a problem though. Tells you something.
DashingLeech 2 months ago
Ooooh ! A new bill! I guess the economy is fixed after all!!
antmayfield 2 months ago
@Quintars well yes anyone who knows what global trade is knows that Canada will go down in such a situation. It's fun to learn the history of paper money and try to predict the future with it but there are only limited things a Canadian central banker can do. Carney has warned us about high levels of personal debt in Canada and possible damaging scenarios to the Canadian economy, that's his job. That's a lot more than Bernanke would say
neilcwright 2 months ago
@Quintars I don't really get such thinking. "Backing" isn't inherently good; it is a trade-off. Fiat currency tends to be more stable over time and since it isn't tied to commodities it isn't subject to the volatility of those markets and technology, nor those uncertainties when financial planning. Commodity money inherently deflates over time. Fiat money can be adjusted by printing more for investment. Commodity money (e.g., gold) has huge transactional costs. It's a trade-off.
DashingLeech 2 months ago
Give the guy a break, he's doing a good job. Canada is a small economy on the world stage and I'm sure if Carney were a "Goldman ahole" then Canadian banks would probably be writing CDS as aggressively as the Americans do. I'm sure if one would go and visit many other countries in the world they would see how fair Canada is. It could be more fair but still pretty good
neilcwright 2 months ago
There was never "too big to fail" there still isn't.
The worst that would happen is the banks themselves would go under (good) and there would be a harsh year, two at the most.
The world economy did not spiral down because Lehman failed. Thats absolute garbage. We've been suffering because the other banks HAVEN'T failed. The nearly 70% rise in commodities + energy comes from the nearly 14 trillion the Fed printed for their back door bailouts.
sirellyn 3 months ago
Bring back the trust busters. Dump the massive corporations and force them into sustainable mass moderate corporations. This drives up competition based on quality and keeps us out of the to big to fail dilemma. Companies success are then based on performance and not on back room monopoly formation.
odensmeadhorn 3 months ago
Can we have him in the US, please? Pretty please?
hitch4645 3 months ago in playlist More videos from TheHour 5
The Governor is doing a fantastic job and I'm proud to have someone as intellegent as he is to represent all Canadians in this Economy. People listen when he has something to say, he's been on the other side and knows what needs to be done and how to do it. I trust that he will also do a great job as Head of the FSB. I wish him all the best!
Sunshinelives1 3 months ago
good guy
senssuck24163 3 months ago
LOL..You can literally see the inflation!
army2k08 3 months ago in playlist More videos from TheHour
why do these goldman sachs aholes run Canada's and the US national banks?
chad071981 3 months ago
Comment removed
xudnoxaj 2 months ago
Steady hand? Inequalities in wealth is increasing tremendously in Canada. We have to look at our current economic policies and establish more fair economic system.
Alpinex105 3 months ago