Anatomy of casino capitalism Pt6 - democratize or replace The Fed

Jane D'Arista: democratize or replace The Fed

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• Jane D'Arista

[sirellyn]

Yes it's called fractional reserve banking. I was explaining the bank doesn't lend out a portion of the money it receives (the way she explained it, it sounded like that.) It can and does create the money out of thin air up to 9 times the amount it obtained from you.

Fractional reserve banking is now used everywhere except for Islamic banks.

[bbburton]

End the Fed, not reform the Fed. We don't need a central bank, we need real money back by gold and silver.

[Wrath0fKhan]

HAHAHAHA... You are saying it like youve solved issues that top notch economist and sociologist havent been able to do in decades of research. Congrats to your invisible, immaterial "Nobel prize", bbburton.

End of argument is here: your "burried pot" isnt enough to buy an actual, equivalent share. All your other claims are utterly irrelevant. Period.

[bbburton]

Your analysis consistently misses the point of what is of value, how it is valued, and how that value is maintained over time. Those are the facts you elide over so foolishly. Period, end of argument.

[Wrath0fKhan]

Lack of understanding? I see plenty of that especially on your side. Yet thats all irrelevant. What counts, thats exactly that your pot of gold is less worth than the invested paper. Ignoring facts (that can be easily checked) is simply foolish. Period.

[bbburton]

LOL. your comment shows just how little you know about 'something' which explains you lack of understanding this or any other subject of value. The joke is in your hand.

[Wrath0fKhan]

LOL Every value is "hypothetical". Its all about how much people are willing to value something. You are a joke, sahib...

[Wrath0fKhan]

You are simply wrong, bbburton. I explained everything that had to be explained. You just kept ingoring it. You even ignored your self-proposed criteria and started exercising in escapism. Facts... Ive repeatedly alluded to them. They are verifiable. Just a few clicks away. Math is a tool in this game and indeed it helps us to understand/express specific logical concepts/contexts. You have completely missed the point.

Bottom line, the invested paper is more worth than your burried pot.

[bbburton]

LOL... the value of gold or dollars is relevant, as I've already told you... The value of gold today isn't hypothetical, and the value of the dollar today isn't hypothetical either. The only hypothetical is the DOW; it's value is, and always has been manipulated. You've been asleep at the wheel too long...LOL

[bbburton]

Then what are you claiming? What kind of comparison are you making: between the value of gold/dollar in 1920 and the gold/dollar value today? You've never explained that at all. Your facts are no facts at all, and applying simple math rules is no explanation, either.

[Wrath0fKhan]

*Dow/Gold Ratio

[Wrath0fKhan]

Nah... I dont claim that inflation is irrelevant. I claimed that in this particular equation it was irrelevant. Thats a big difference.

In 1920 the Dow/Gold ratio was 3.2. Nowadays its about 10. You would need 3x the gold you bought back then if you desired to buy the same share in the present. Indeed, the famous "burried pot of gold" doesnt multiply (unless its all about a fairy tale). Busted again...