@jmski52 said:
It's just plain sick that the IMF wants to incentivize El Salvador to back away from bitcoin by "loaning" them a cool billion imaginary US dollars.
this is how international bankers take control of a needy country's infrastructure and economic policy.
Why is El Salvador seeking a loan? Why not just sell its bitcoin?
I'm sure if jmski wanted to borrow money from derryb, then derryb has every right to stipulate terms.
@jmski52 said:
It's just plain sick that the IMF wants to incentivize El Salvador to back away from bitcoin by "loaning" them a cool billion imaginary US dollars.
this is how international bankers take control of a needy country's infrastructure and economic policy.
Why is El Salvador seeking a loan? Why not just sell its bitcoin?
I'm sure if jmski wanted to borrow money from derryb, then derryb has every right to stipulate terms.
The IMF should just say no to the loan.
Both the International Monetary Fund (IMF) and World Bank have been accused of predatory lending practices to keep emerging economies in debt, including: demanding structural adjustment programs as a condition for loans, often to governments who see these loans as a last resort, pressuring for privatization and exerting undue influence over central banks.
Imagine applying for a car loan and being told what brand of gas and oil to put in it, the hours you can and cannot drive it, and who you had to purchase auto insurance from.
Repetition of ignorance is ignorance raised to the power two.
@jmski52 said:
It's just plain sick that the IMF wants to incentivize El Salvador to back away from bitcoin by "loaning" them a cool billion imaginary US dollars.
this is how international bankers take control of a needy country's infrastructure and economic policy.
Why is El Salvador seeking a loan? Why not just sell its bitcoin?
I'm sure if jmski wanted to borrow money from derryb, then derryb has every right to stipulate terms.
The IMF should just say no to the loan.
Both the International Monetary Fund (IMF) and World Bank have been accused of predatory lending practices to keep emerging economies in debt, including: demanding structural adjustment programs as a condition for loans, often to governments who see these loans as a last resort, pressuring for privatization and exerting undue influence over central banks.
Imagine applying for a car loan and being told what brand of gas and oil to put in it, the hours you can and cannot drive it, and who you had to purchase auto insurance from.
They should stop lending to these countries.
Imagine applying for a car loan and everyone says "no". Maybe then you'll get your friggen house in order. Or will you just go out and steal a car?
You can either have a car with driving stipulations, or no car. Your choice. Take it or leave it.
@jmski52 said:
It's just plain sick that the IMF wants to incentivize El Salvador to back away from bitcoin by "loaning" them a cool billion imaginary US dollars.
this is how international bankers take control of a needy country's infrastructure and economic policy.
Why is El Salvador seeking a loan? Why not just sell its bitcoin?
I'm sure if jmski wanted to borrow money from derryb, then derryb has every right to stipulate terms.
The IMF should just say no to the loan.
Both the International Monetary Fund (IMF) and World Bank have been accused of predatory lending practices to keep emerging economies in debt, including: demanding structural adjustment programs as a condition for loans, often to governments who see these loans as a last resort, pressuring for privatization and exerting undue influence over central banks.
Imagine applying for a car loan and being told what brand of gas and oil to put in it, the hours you can and cannot drive it, and who you had to purchase auto insurance from.
They should stop lending to these countries.
Imagine applying for a car loan and everyone says "no". Maybe then you'll get your friggen house in order. Or will you just go out and steal a car?
You can either have a car with driving stipulations, or no car. Your choice. Take it or leave it.
Enough of these bailouts, right?
.
You are not even close to getting it.
When a dollar was backed by actual gold, this type of lending would not happen because, in the event of a default, the gold would be very difficult to get back.
But when the dollars are basically created at no cost and with no backing, there is really nothing for the lender to lose. And the goal of the lending is to put the other country into debt servitude so that they have to work hard to produce and sell bananas (or whatever) to us on the cheap.
The same basic approach is deployed by domestic banks towards the general American public.
@jmski52 said:
It's just plain sick that the IMF wants to incentivize El Salvador to back away from bitcoin by "loaning" them a cool billion imaginary US dollars.
this is how international bankers take control of a needy country's infrastructure and economic policy.
Why is El Salvador seeking a loan? Why not just sell its bitcoin?
I'm sure if jmski wanted to borrow money from derryb, then derryb has every right to stipulate terms.
The IMF should just say no to the loan.
Both the International Monetary Fund (IMF) and World Bank have been accused of predatory lending practices to keep emerging economies in debt, including: demanding structural adjustment programs as a condition for loans, often to governments who see these loans as a last resort, pressuring for privatization and exerting undue influence over central banks.
Imagine applying for a car loan and being told what brand of gas and oil to put in it, the hours you can and cannot drive it, and who you had to purchase auto insurance from.
They should stop lending to these countries.
Imagine applying for a car loan and everyone says "no". Maybe then you'll get your friggen house in order. Or will you just go out and steal a car?
You can either have a car with driving stipulations, or no car. Your choice. Take it or leave it.
Enough of these bailouts, right?
.
You are not even close to getting it.
When a dollar was backed by actual gold, this type of lending would not happen because, in the event of a default, the gold would be very difficult to get back.
But when the dollars are basically created at no cost and with no backing, there is really nothing for the lender to lose. And the goal of the lending is to put the other country into debt servitude so that they have to work hard to produce and sell bananas (or whatever) to us on the cheap.
The same basic approach is deployed by domestic banks towards the general American public.
The fact that money is loaned to desperate people/countries is a banker problem. Somehow banks act like stipulations and high rates will encourage repayment. Predatory lending, nothing less.
Lending to individuals was pretty much risk free back when banks were local and not national corporations. One typically saw his banker in church or at the 7 eleven.
Repetition of ignorance is ignorance raised to the power two.
The fact that money is loaned to desperate people/countries is a banker problem. Somehow banks act like stipulations and high rates will encourage repayment. Predatory lending, nothing less.
Lending to individuals was pretty much risk free back when banks were local and not national corporations. One typically saw his banker in church or at the 7 eleven.
We make ourselves the victims.
Stop being desperate.
This will continue until we start blaming ourselves. Then we will be strong, until .....we are weak.
@derryb said: Crypto price volatility? This is what true price discovery looks like. “There really is no real market anymore when you have an unlimited non-economic actor (the FED) in the market distorting prices, and furthermore, that other investors perceive them to be there, whether or not they're there. That is not a functioning market at all.”
Investors are simply looking for ways to escape the US dollar and “what this crypto space does is it allows for 1 trillion or 2 trillion of that excess froth to be diverted away from stocks and from real estate and all that and to go into this very benign asset,” Nakamura told Farley.
There will be a day when the Fed, the Treasury and the SEC (Securities and Exchange Commission) will stick their long regulatory snouts into crypto. It may not mean the digital party is over, but the markets will lose the price discovery elasticity that currently works so well.
there is alot of froth ..however the current mood in DC is massive deregulation, or so it seems thats the attitude..i think the regulation will be pinpoint targeted at percieved enemies while massive cheaters get a pass...if your in the friend club one will be okay..just a thought ....
there is alot of froth ..however the current mood in DC is massive deregulation, or so it seems thats the attitude..i think the regulation will be pinpoint targeted at percieved enemies while massive cheaters get a pass...if your in the friend club one will be okay..just a thought ....
"friend club," - I like the name. Seems we get a new one every four or eight years. Lots of volatility in the last turnover. Will it turn out to be good for gold as well or will cryptos hijack a good portion of gold investments? I personally think gold will not be affected by crypto demand and that equities will be the victim.
Repetition of ignorance is ignorance raised to the power two.
@derryb said:
this is how international bankers take control of a needy country's infrastructure and economic policy.
Why is it needy ?
because it mismanaged its finances. Something international bankers look for and take advantage of as they rape and pilfer an economy even worse than its own leaders did. You do understand that the whole premises for predatory lending is to take advantage of the down and out, correct?
“Once countries accepted the conditions of structural adjustment, the World Bank and the IMF rewarded them with still more loans, thus deepening their indebtedness—rather like a fireman pouring gasoline on a burning house to stop the blaze.”
Repetition of ignorance is ignorance raised to the power two.
I agree that the IMF has screwed up some troubled countries. Their repeated bankruptcies or going hand-in-hand back to the IMF or World Bank is proof of that.
However...this is a result of the AUSTERITY policies favored by the globalists like the IMF. A proper focus on "The Denominator Effect" would focus on growing NOMINAL GDP and achieving escape velocity for debt payments. You MUST grow nominal GDP.
That's where some of you get it wrong. The U.S. -- for all it's problems -- is able to grow GDP over the long-term. Check out our GDP compared to the BRICs or EU or other countries. We put most or all of them to shame. The debt servicing ability is enhanced IF you can grow NOMINAL GDP. If you can't...then you're in trouble. And by growing nominal GDP I don't mean negative or no REAL GDP growth either -- but higher nominal (and real) GDP growth are essential to debt servicing.
Remember those forecasts of the U.S. being 3rd in GDP by 2040 compared to China and India ? Oops.....
@GoldFinger1969 said:
I agree that the IMF has screwed up some troubled countries. Their repeated bankruptcies or going hand-in-hand back to the IMF or World Bank is proof of that.
However...this is a result of the AUSTERITY policies favored by the globalists like the IMF. A proper focus on "The Denominator Effect" would focus on growing NOMINAL GDP and achieving escape velocity for debt payments. You MUST grow nominal GDP.
That's where some of you get it wrong. The U.S. -- for all it's problems -- is able to grow GDP over the long-term. Check out our GDP compared to the BRICs or EU or other countries.
Key to this is a functioning govt with checks and balances and not run by despots, dictators or wannabe kings.
The poor folk of these countries never have a chance when aid is funneled to said depots, dictatorship and wannabe kings. The cycle will continue until the weak are strong.
Key to this is a functioning govt with checks and balances and not run by despots, dictators or wannabe kings.
The poor folk of these countries never have a chance when aid is funneled to said depots, dictatorship and wannabe kings. The cycle will continue until the weak are strong.
Sounds very, very close to home. LOL
Repetition of ignorance is ignorance raised to the power two.
@GoldFinger1969 said:
I agree that the IMF has screwed up some troubled countries. Their repeated bankruptcies or going hand-in-hand back to the IMF or World Bank is proof of that.
However...this is a result of the AUSTERITY policies favored by the globalists like the IMF. A proper focus on "The Denominator Effect" would focus on growing NOMINAL GDP and achieving escape velocity for debt payments. You MUST grow nominal GDP.
That's where some of you get it wrong. The U.S. -- for all it's problems -- is able to grow GDP over the long-term. Check out our GDP compared to the BRICs or EU or other countries.
Key to this is a functioning govt with checks and balances and not run by despots, dictators or wannabe kings.
The poor folk of these countries never have a chance when aid is funneled to said depots, dictatorship and wannabe kings. The cycle will continue until the weak are strong.
.
And you want to "end Congress" as you put it.
So you are in favor of eliminating one of the major "checks and balances".
But now you write that those checks and balances are important.
You should get your story straight.
@GoldFinger1969 said:
I agree that the IMF has screwed up some troubled countries. Their repeated bankruptcies or going hand-in-hand back to the IMF or World Bank is proof of that.
However...this is a result of the AUSTERITY policies favored by the globalists like the IMF. A proper focus on "The Denominator Effect" would focus on growing NOMINAL GDP and achieving escape velocity for debt payments. You MUST grow nominal GDP.
That's where some of you get it wrong. The U.S. -- for all it's problems -- is able to grow GDP over the long-term. Check out our GDP compared to the BRICs or EU or other countries.
Key to this is a functioning govt with checks and balances and not run by despots, dictators or wannabe kings.
The poor folk of these countries never have a chance when aid is funneled to said depots, dictatorship and wannabe kings. The cycle will continue until the weak are strong.
.
And you want to "end Congress" as you put it.
So you are in favor of eliminating one of the major "checks and balances".
But now you write that those checks and balances are important.
You should get your story straight.
.
You think Congress provides counter balance?
Who created and passed the spending that put us $36 Trillion in debt?
Congress ain't no "major" checks and balances.
And to support derryb, we are losing those checks and balances, to fealty. Weak we are.
@GoldFinger1969 said:
I agree that the IMF has screwed up some troubled countries. Their repeated bankruptcies or going hand-in-hand back to the IMF or World Bank is proof of that.
However...this is a result of the AUSTERITY policies favored by the globalists like the IMF. A proper focus on "The Denominator Effect" would focus on growing NOMINAL GDP and achieving escape velocity for debt payments. You MUST grow nominal GDP.
That's where some of you get it wrong. The U.S. -- for all it's problems -- is able to grow GDP over the long-term. Check out our GDP compared to the BRICs or EU or other countries.
Key to this is a functioning govt with checks and balances and not run by despots, dictators or wannabe kings.
The poor folk of these countries never have a chance when aid is funneled to said depots, dictatorship and wannabe kings. The cycle will continue until the weak are strong.
.
And you want to "end Congress" as you put it.
So you are in favor of eliminating one of the major "checks and balances".
But now you write that those checks and balances are important.
You should get your story straight.
.
You think Congress provides counter balance?
Who created and passed the spending that put us $36 Trillion in debt?
Congress ain't no "major" checks and balances.
And to support derryb, we are losing those checks and balances, to fealty. Weak we are.
.
I'm no fan of what Congress does most of the time.
But the three branches of government do help to balance each other and prevent fascism.
Now if only those checks and balances could be applied to the Federal Reserve Bank.
@GoldFinger1969 said:
I agree that the IMF has screwed up some troubled countries. Their repeated bankruptcies or going hand-in-hand back to the IMF or World Bank is proof of that.
However...this is a result of the AUSTERITY policies favored by the globalists like the IMF. A proper focus on "The Denominator Effect" would focus on growing NOMINAL GDP and achieving escape velocity for debt payments. You MUST grow nominal GDP.
That's where some of you get it wrong. The U.S. -- for all it's problems -- is able to grow GDP over the long-term. Check out our GDP compared to the BRICs or EU or other countries.
Key to this is a functioning govt with checks and balances and not run by despots, dictators or wannabe kings.
The poor folk of these countries never have a chance when aid is funneled to said depots, dictatorship and wannabe kings. The cycle will continue until the weak are strong.
.
And you want to "end Congress" as you put it.
So you are in favor of eliminating one of the major "checks and balances".
But now you write that those checks and balances are important.
You should get your story straight.
.
You think Congress provides counter balance?
Who created and passed the spending that put us $36 Trillion in debt?
Congress ain't no "major" checks and balances.
And to support derryb, we are losing those checks and balances, to fealty. Weak we are.
.
I'm no fan of what Congress does most of the time.
But the three branches of government do help to balance each other and prevent fascism.
Now if only those checks and balances could be applied to the Federal Reserve Bank.
Comments
Why is El Salvador seeking a loan? Why not just sell its bitcoin?
I'm sure if jmski wanted to borrow money from derryb, then derryb has every right to stipulate terms.
The IMF should just say no to the loan.
Knowledge is the enemy of fear
Both the International Monetary Fund (IMF) and World Bank have been accused of predatory lending practices to keep emerging economies in debt, including: demanding structural adjustment programs as a condition for loans, often to governments who see these loans as a last resort, pressuring for privatization and exerting undue influence over central banks.
Imagine applying for a car loan and being told what brand of gas and oil to put in it, the hours you can and cannot drive it, and who you had to purchase auto insurance from.
Repetition of ignorance is ignorance raised to the power two.
They should stop lending to these countries.
Imagine applying for a car loan and everyone says "no". Maybe then you'll get your friggen house in order. Or will you just go out and steal a car?
You can either have a car with driving stipulations, or no car. Your choice. Take it or leave it.
Enough of these bailouts, right?
Knowledge is the enemy of fear
so, you support predatory lending.
Imagine a car loan that dictates where you can publicly post your opinion.
Repetition of ignorance is ignorance raised to the power two.
Neither a borrower nor lender be,
Knowledge is the enemy of fear
.
You are not even close to getting it.
When a dollar was backed by actual gold, this type of lending would not happen because, in the event of a default, the gold would be very difficult to get back.
But when the dollars are basically created at no cost and with no backing, there is really nothing for the lender to lose. And the goal of the lending is to put the other country into debt servitude so that they have to work hard to produce and sell bananas (or whatever) to us on the cheap.
The same basic approach is deployed by domestic banks towards the general American public.
.
Oh, i get it. Its a borrower problem.
Knowledge is the enemy of fear
Like the lending for housing in 2008?
The fact that money is loaned to desperate people/countries is a banker problem. Somehow banks act like stipulations and high rates will encourage repayment. Predatory lending, nothing less.
Lending to individuals was pretty much risk free back when banks were local and not national corporations. One typically saw his banker in church or at the 7 eleven.
Repetition of ignorance is ignorance raised to the power two.
We make ourselves the victims.
Stop being desperate.
This will continue until we start blaming ourselves. Then we will be strong, until .....we are weak.
Knowledge is the enemy of fear
Glad to see you accept the blame, it's not my fault in any way.
Repetition of ignorance is ignorance raised to the power two.
All the more reason to end the FED
there is alot of froth ..however the current mood in DC is massive deregulation, or so it seems thats the attitude..i think the regulation will be pinpoint targeted at percieved enemies while massive cheaters get a pass...if your in the friend club one will be okay..just a thought ....
"friend club," - I like the name. Seems we get a new one every four or eight years. Lots of volatility in the last turnover. Will it turn out to be good for gold as well or will cryptos hijack a good portion of gold investments? I personally think gold will not be affected by crypto demand and that equities will be the victim.
Repetition of ignorance is ignorance raised to the power two.
Bitcoiners’ Guide to Austrian Economics
Good guide to Austrian Economics in general.
Repetition of ignorance is ignorance raised to the power two.
Why is it needy ?
because it mismanaged its finances. Something international bankers look for and take advantage of as they rape and pilfer an economy even worse than its own leaders did. You do understand that the whole premises for predatory lending is to take advantage of the down and out, correct?
Yes, they did it to themselves but it does not justify a predatory lender twisting the knife.
“Once countries accepted the conditions of structural adjustment, the World Bank and the IMF rewarded them with still more loans, thus deepening their indebtedness—rather like a fireman pouring gasoline on a burning house to stop the blaze.”
Repetition of ignorance is ignorance raised to the power two.
I agree that the IMF has screwed up some troubled countries. Their repeated bankruptcies or going hand-in-hand back to the IMF or World Bank is proof of that.
However...this is a result of the AUSTERITY policies favored by the globalists like the IMF. A proper focus on "The Denominator Effect" would focus on growing NOMINAL GDP and achieving escape velocity for debt payments. You MUST grow nominal GDP.
That's where some of you get it wrong. The U.S. -- for all it's problems -- is able to grow GDP over the long-term. Check out our GDP compared to the BRICs or EU or other countries. We put most or all of them to shame. The debt servicing ability is enhanced IF you can grow NOMINAL GDP. If you can't...then you're in trouble. And by growing nominal GDP I don't mean negative or no REAL GDP growth either -- but higher nominal (and real) GDP growth are essential to debt servicing.
Remember those forecasts of the U.S. being 3rd in GDP by 2040 compared to China and India ? Oops.....
.
Key to this is a functioning govt with checks and balances and not run by despots, dictators or wannabe kings.
The poor folk of these countries never have a chance when aid is funneled to said depots, dictatorship and wannabe kings. The cycle will continue until the weak are strong.
Knowledge is the enemy of fear
Sounds very, very close to home. LOL
Repetition of ignorance is ignorance raised to the power two.
.
And you want to "end Congress" as you put it.
So you are in favor of eliminating one of the major "checks and balances".
But now you write that those checks and balances are important.
You should get your story straight.
.
You think Congress provides counter balance?
Who created and passed the spending that put us $36 Trillion in debt?
Congress ain't no "major" checks and balances.
And to support derryb, we are losing those checks and balances, to fealty. Weak we are.
Knowledge is the enemy of fear
Term Limits is one answer.
Close the revolving door is another.
Reconstruct the wall between commercial banking and investment banking is another.
I knew it would happen.
don't expect you to admit it here, but just how many of those "who" did you help put in office?
Repetition of ignorance is ignorance raised to the power two.
.
I'm no fan of what Congress does most of the time.
But the three branches of government do help to balance each other and prevent fascism.
Now if only those checks and balances could be applied to the Federal Reserve Bank.
.
Less than you.
And I only agree as the effort has accelerated recently.
Knowledge is the enemy of fear
Doesn't really look like they check much anymore.
Knowledge is the enemy of fear