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So again, someone, somewhere is paying interest on that money because it was created as a loan.
No, the $20s were not created as a loan.
So where was their value created? Please remember, when new, crisp stacks of $20 bills are sitting in the BE&P's vault, they're not money.
So where was their value created?
When the Fed sells them to a bank.
So where was their value created? Please remember, when new, crisp stacks of $20 bills are sitting in the BE&P's vault, they're not money.
So where was their value created?
When the Fed sells them to a bank.
Absolutely right. Well, kind of. The Fed ships them to the banks and debits their account. Since their account at the Fed represents money the regional Fed bank owes the bank, it is debt. The $20 is just another representation of a loan. That's why they're called federal reserve notes.
You're half right, Eddie. When small and medium sized banks get into trouble, they end up being taken over by the FDIC who then doles out their assets to other, larger banks.
if I disagreed I'll pay you $10,000. Bet or run away with your liberal strawman between your legs. Slow?
However, when the big NY banks get into trouble, they get bailed out by the taxpayers (too big too fail),
some got bailed out once and paid the money back and other huge banks went bankrupt like Bear, WaMu, Lehman, Merryl,etc etc. What planet have you been on????
which is one of Griffin's alleged objectives of the cartel; to keep the control of the money supply in the big NY banks.
too stupid by 1000%!! Money supply is in hands of Federal Reserve
For someone who still insists that supermarkets don't have substantial permanent assets, you throw the 'stupid' thing out way too much.
again too stupid by 1000%. Its the classic ROI example in Finance 101 which, surprise, the liberal fool has not taken!
A supermarket can rent space and buy inventory on 120 day terms thus needing no fixes assets while a utility would have to built and pay for a nuclear power plant asset at a cost in the billions yet both yield the same ROI!!
Way over you pea brain liberal head - right??
So where was their value created?
When the Fed sells them to a bank.
Absolutely right. Well, kind of. The Fed ships them to the banks and debits their account. Since their account at the Fed represents money the regional Fed bank owes the bank, it is debt. The $20 is just another representation of a loan. That's why they're called federal reserve notes.
Absolutely right. Well, kind of. The Fed ships them to the banks and debits their account.
Yes, the banks pay for their FRNs, they aren't created from debt.
No interest attached.
How about I start a utility company, buy electricity from a Canadian dam for cheap, and sell it to my customers in NY, using the existing utility's power lines. Look, Ma! No Assets!
But a viable business model in the real world for a utility or a supermarket?
Not so much.
Most observers say the Federal Reserve Bank of New York is the leader of the Fed. And who owns the FRBNY?
JP Morgan Chase
Citibank
Goldman Sachs
Ya know, the big NY banks.
So says the guy who thinks supermarkets don't have fixed assets.
very few as compared to asset heavy businesses like giant utilities which was the point that obviously went way over your head as usual
Welfare payments? Really? They'd "go back to work"? WHERE???
too stupid!! Ever hear of the law of supply and demand?? Supply equals demand for labor as long as liberals aren't paying people not to work and fixing the price. Over your head once again??
I have a few friends who are only being kept alive by unemployment insurance. They've been trying to find jobs, even working delivering pizzas, or bartending (these are college-educated people with masters degrees).
What world do you live in where just wanting a job gets you one?
ever hear of the law of supply and demand?? The entire economy runs it. Its for example why your supermarket has just the right number of apples each day. IF we don't have the right number of jobs its only because liberals interfere with the market. Over your head once again??
Most observers say the Federal Reserve Bank of New York is the leader of the Fed. And who owns the FRBNY?
JP Morgan Chase
Citibank
Goldman Sachs
Ya know, the big NY banks.
and your point if you know it is??????????????????????????
Um, I said the big NY banks dictate the money supply. You objected and said the Fed does.
I'm merely demonstrating how the big NY banks mostly own and run the Fed.Please try to keep up, thanks.
By the way, I would assume you identify as a 'conservative'. Does that mean you also think the earth was created 6.000 years ago by an imaginary sky-daddy? Cause that would explain a lot....
Um, I said the big NY banks dictate the money supply. You objected and said the Fed does.
I'm merely demonstrating how the big NY banks mostly own and run the Fed.Please try to keep up, thanks.
dear, please remember you are a liberal and so will be slow, very very slow. If you have evidence that the NY Banks dictate the money supply rather than Bernanke and board I will pay you $10,000. Bet or run away with your liberal tail between your legs.
The members of the Board of Governors have a majority (7 out of 12) of the votes on the FOMC, the arm of the Fed that determines the nation's monetary policy. The five other votes belong to the president of the Federal Reserve Bank of New Yorkit is the New York Fed that conducts the open market operations to implement the FOMC's monetary policyand four other Reserve Bank presidents who serve one-year terms as voting members of the FOMC on a rotating basis. The chairman of the Board of Governors serves as chairman of the FOMC.
By the way, I would assume you identify as a 'conservative'. Does that mean you also think the earth was created 6.000 years ago by an imaginary sky-daddy? Cause that would explain a lot....
dear, the religious beliefs of some conservatives are not important important but the pure stupidity of liberalism is. Liberals treasonously spied for Stalin, pay child mothers per illigitimate birth, think you expand an economy by taxing it, cripple millions with personal bailouts with no thought of moral hazard, just subversively buying a voting constituency, and beloeve in trickle down welfare rather than trickle down supply side economics.
to wit:
You want to talk about no moral hazard? How about a business that no matter how badly you screw up, you get bailed out by the taxpayers,
They've actually convinced the government and the people to give them the power to create the money and the subsequent huge profits from it.
Um, I said the big NY banks dictate the money supply. You objected and said the Fed does.
I'm merely demonstrating how the big NY banks mostly own and run the Fed.Please try to keep up, thanks.
dear, please remember you are a liberal and so will be slow, very very slow. If you have evidence that the NY Banks dictate the money supply rather than Bernanke and board I will pay you $10,000. Bet or run away with your liberal tail between your legs.
Sorry, I don't bet with strangers unless I know they have the money to pay up.
Especially when I know they'd lose the bet, to wit:
Board of Governors of the Federal Reserve System - Fedpoints - Federal Reserve Bank of New York
But you'll stammer and steam and say "But the President nominates and the Senate confirms all those BoG guys!"
FRB: Board Members
Read their bios. Ben was in and out of the NYFed several times. Three others worked at the NY Fed in their careers.
The government/private industry revolving door is alive and well-oiled at the Fed.
And since, as quoted above, the NY Fed conducts the FOMC policy decisions, you can be damn sure they're not going to be "told" to do anything they don't want to do.
By the way, I would assume you identify as a 'conservative'. Does that mean you also think the earth was created 6.000 years ago by an imaginary sky-daddy? Cause that would explain a lot....
dear, the religious beliefs of some conservatives are not important important but the pure stupidity of liberalism is. Liberals treasonously spied for Stalin, pay child mothers per illigitimate birth, think you expand an economy by taxing it, cripple millions with personal bailouts with no thought of moral hazard, just subversively buying a voting constituency, and beloeve in trickle down welfare rather than trickle down supply side economics.
Rather than start another thread about conservatives religious beliefs, I'll let that one lie.
You want to talk about no moral hazard? How about a business that no matter how badly you screw up, you get bailed out by the taxpayers, and get to keep your job to boot? You think the CEOs of the big NY banks worry themselves to sleep at night about what their decisions are going to mean for the business or their personal situation?
You conservatives scream and wail about welfare queens (which don't actually exist any more), but the bankers are the biggest hogs at the government teat. They've actually convinced the government and the people to give them the power to create the money and the subsequent huge profits from it.... but they're doing it in your best interests. They've actually managed to convince the vast majority of the country that constant growth in a finite environment is not only possible, but desirable.
And let's not start in with 'supply-side'. There's a good reason the developer of that 'economic theory' is Laffer, cause it's a joke.
If you have evidence that the NY Banks dictate the money supply rather than Bernanke and board I will pay you $10,000. Bet or run away with your liberal tail between your legs.
to wit:
You want to talk about no moral hazard? How about a business that no matter how badly you screw up, you get bailed out by the taxpayers,
too stupid by 1000% a few banks got bailed out and paid the money back .
1000's went bankrupt too. But, millions get personal bailiouts , more all the time, and they never pay it back. Thats moral hazard times 10000000%. Got it now???
See why we are 100% positive a liberal will be slow????.
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Yeah, a few banks got bailed out... the 'too big to fail' ones. Which is my point. The big NY banks got bailed out,
I have to wonder why you get so upset at people who are down on their luck, disabled, old, single parents, and otherwise unable to support themselves getting a measly thousand or two a month when the bankers rip you off blind every day.
a government sponsored cartel of banks running the money supply on thin air and for their own profit,
