RE:Bank Holiday Bank Runs Open Discussion

When you look at the charts take a look at other crisis that have occurred like 9/11 or savings and loans or the Market crashes then compare them to the current crisis.

In some cases you must look at other charts to see that those other events where huge but this even is, well catastrophically gargantuan.

GOT GOLD?

Total Reserves
http://research.stlouisfed.org/fred2/series/TOTRESNS?cid=123
Non Borrowed Reserves
http://research.stlouisfed.org/fred2/series/BOGNONBR?cid=123
Monetary base for the deflationists out there.
http://research.stlouisfed.org/fred2/series/BOGAMBSL?cid=124
Deposits with the Federal reserve to make more money.
http://research.stlouisfed.org/fred2/series/WTREGEN?cid=32215
Lender of last resort helping out the poor banks...
http://research.stlouisfed.org/fred2/series/TOTBORR?cid=32215

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[tfrenn]

I done told you and told you that PM is a currency play. Period. If the dollar gets debased than gold will rise.. Period. That's it. All this talk about the history of PM's, manipulation, conspiracy is a waste of time. Just watch the dollar and inflation.

[davincij15]

I'm not watching anything except my job that I love and the work that I do. I want to keep a thing that has value that I can see and touch and is not a paper statement of wealth.

I am not a trader I am a hard worker at the job I do best. You are a hard worker at the job you do best that is trading.

Thus gold will go up because of workers like me that buy it and hold it and do not spend it and you need it when it's going up and have it.

[tfrenn]

You have a few misconceptions about me. I am not a trader. I just try to find out if certain markets are in long term bull or bear moves.. 2 to 4 years. You've been watching the dollar like a hawk and so have I. The move in gold just isn't in the charts yet. Watch that price of 1002.20 and when it breaks over that and stays there without falling back, then look out. That's when I will invest.

[davincij15]

Ok good for you but I want something real right now I don't want to try and time it I don't want to gamble I want to save.

Gamble all you want but there will be a day when your luck runs out.

I work hard as it is for money I don't want to work hard gambling it.

I like enjoy producing real product for you to buy (real wealth) not winning bets against the unfortunate gambler.

[Numonic7]

Also I want to add the govt. does not give the money to the bank electronically it only gives physical money to the bank. The bank always has the power to lend(electronic money), it just chooses not to in times of FRN shortages because by extending credit, the bank would be giving more people an opportunity/right to withdraw the already scarce FRNs and the more people withdrawing these FRNs the harder it will be to print/mint enough FRNs to meet demand. This is why credit is tight.

[Numonic7]

Yeah you have to wait for it to be printed and that's my point. The dollar's value comes from the fact that you don't have to wait for it to be printed. The longer it takes to mint/print the dollars, the more value the dollar looses and right now the dollar is very overvalued. The govt. charges a hefty hyperinflated fee for printing/minting dollars. This is seigniorage. If the govt. can't mint/print those dollars in a reasonable time their minting costs drop and the value of the $ drops.

[davincij15]

As a side note the government has placed 100% principle guarantees on no interest accounts.

[davincij15]

The Cali IOUs are not legal bonds.

This is my last try.

Lets say I am the only one that electronically deposited 1 billion dollars at a bank that has 1 customer ME.

That banks spends the deposit and is broke. Now it still owes me the money and the government gives the money back to the bank electronically.

Now for some crazy reason I do not want to electronically deposit the money to another bank I want the paper cash.

The bank has the money now I just have to wait for it to be printed.

[Numonic7]

davinci you are wrong. The fact that Cali IOUs are selling for less than face value is proof that not being able to liquidate your bond devalues the dollar. The fact that an ounce of gold rose from $20 to $35/oz is proof that not being able to liquidate your bond devalues the dollar. The bailouts are NOT electronic. Banks don't have a shortage of people that know how to use a keyboard, banks have a shortage of FRNs. That is what the bailouts are: FRNs not electronic digits from a keyboard.

[davincij15]

I don't think I can convey my understanding clearly. The government does not need to print anything to keep the banks solvent it just has to hit a keyboard and poof there is the money to keep you operating.

If people want physical and there isn't enough they just have to wait the bank is not going anywhere.