if you have something SPECIFIC that I've saidd that you disagree with you should have no trouble pointing out the inaccuracy and setting the record straight. it would be a service not only for me but for all the members of the forum.
Fine, you said a lot of stupid things... but I will focus on the DUMBEST thing you said.
There shouldn't be any "Reserve ratios" at all. banks shouldn't be abel to lend out money they don't have.
This is the DUMBEST STATEMENT I HAVE EVER SEEN IN MY LIFE FROM ANYONE IN the subject of banking. Do you realize how stupid you sound saying this??
Firstly... Do you even know what a reserve requirement is?? Secondly, why the heck would a bank take deposits in the first place if they couldnt lend any of it out??? What would be there motivation to pay interest on anyone's deposits??
What would people do with their money if they wanted to save it? If I wanted to borrow money for a new business??? how would I get that money??
Please explain to me how this would all happend under your glorious new proposal of having a 100% reserve requirement??
brian,
to gain perpective on this think back to the barter system.
if i milk your cow, you'll give me your wheat. that's how things used to work.
Money=value.
If someone wants money they need to provide VALUE i.e. they need to WORK for it. (this to you is also probably the dummest thing you've heard).
If you want money for a small business you need to WORK for that money. Sure you can borrow it from whoever you want. But NOBODY should be able to lend out money they don't have. That is called a scam my friend and it should be illegal.
Banks will stay in business if they provide VALUE i.e. people who have banks will be people who have more money than they need so they will choose to loan it out at interest. if they are good bank i.e. giving loans to people who deserve them with REAL money that they have instead of scamming everbody... they will prosper. they also will SECURE the money in exchange for a fee. That's STILL a good business to be in.
Banks won't be nearly as profitable as they are now..but it's still a viable business because they're providing a service people need: loans and security.
They SHOULDN"T be as profitable as they are now...because the vast majority of their wealth is all a sham: one giant ponzi scheme. they should be arrested.
as a results all the wealth in our economy is a sham too! people who take out LOANS to start a business don't have a business they have a DEBT. and unless their business is growing faster than they're debt (in a global sense this is impossible because there is more debt in the economy than there is mony in the economy).
i'd rather have a less prosperous america with REAL wealth than an america that LOOKS prosperous on the outside but is really a ticking time bomb of debt that explodes in our faces every 10 years and eventually will collapse compleletely.
Banks should be banks. Not money magicians pulling money out of their butts. They should have NEVER been in control of the money supply.
if america will be truly prosperous it will provide tremendous VALUE to the world...not because we are the best BORROWERS in the world.