"living wills" of 5 banks fail to pass muster

[Jacque67 7,328]

Absolutely not. More government control is not the solution to everything. This little central bank ponzi scheme going on all over the world needs to end, first and foremost. Second, there should not have been bailouts to start with nor should there be in the future. The banks engage in reckless activity knowing full well that the taxpayers will end up bailing them out. It's a win win for them. The banks basically own the Federal Reserve. It is a cartel, they do what they want. It needs to end. Government needs to stop encouraging them.

So perhaps up to now the correct legislation hasn't been taken.

Who do you think will stop the Ponzi schemes ? Individuals? Don't make me laugh .

[OriZ 3,157]

So perhaps up to now the correct legislation hasn't been taken.

Who do you think will stop the Ponzi schemes ? Individuals? Don't make me laugh .

The government is in bed with the banks, the government is the last body that can stop it. They actively encourage it in many ways, allowing and even encouraging central bank intervention is one of many. It all has to stop. The government is not the one to look to here - it is part of the problem.

[Jacque67 7,328]

The op isn't about Ponzi schemes but....

You are just throwing around the idea that the gov is in cahoots... I am asking you what you propose as an alternative to gov legislation in such matters.

Or perhaps you only care about microeconomics iie yourself..

Funny piece of graffiti I once saw in the loos at college-If elections changed anything, they'd be illegal.

[OriZ 3,157]

And I told you what I propose.

Get rid of central banks. Central banks only give them more power. Hold banks accountable/no bailouts.

I am not "throwing around an idea". Trust me, to those of us who know what's going on it's not such an extreme proposition. Expecting the government to handle it is like letting the cat guard the cream.

[Jacque67 7,328]

https://m.youtube.com/watch?v=Hjpo5_aC9XE#

https://www.youtube.com/watch?v=Hjpo5_aC9XE

[Jacque67 7,328]

And I told you what I propose.

Get rid of central banks. Central banks only give them more power. Hold banks accountable/no bailouts.

I am not "throwing around an idea". Trust me, to those of us who know what's going on it's not such an extreme proposition. Expecting the government to handle it is like letting the cat guard the cream.

You are one of the people in the know???

Preposterous idea, but the LGT group, and the gnomes in Switzerland , give you a thumbs up;)

[Jacque67 7,328]

https://www.google.co.jp/url?sa=t&source=web&cd=10&ved=0ahUKEwj77MS6io7MAhUjG6YKHY2JAJ0QFgggMAk&url=http%3A%2F%2Fwww.businessinsider.com%2Fits-time-for-america-to-move-on-from-the-gnomes-of-zurich-2015-2&usg=AFQjCNG2ok2K41AiNkCoLmdgmGZAzGuVQQ&sig2=hIFhGYU6CVp2l3c_Jyev3w

[OriZ 3,157]

You are one of the people in the know???

Preposterous idea, but the LGT group, and the gnomes in Switzerland , give you a thumbs up;)

I didn't say I was "in the know". But I know alot more about what's truly going on than the "average person". You can choose to believe that or you can choose not to I really don't care. And the best thing is it really ain't rocket science to know it - anyone can know it if only they take their head out of either the sand, or their ###, or both, and do some research with an open mind. Bottom line is the government AND the FED enable reckless activity and don't hold banks accountable because they have the ATM called the taxpayer. Until that changes, nothing is going to change. And I don't see any of it changing any time soon. What they have done to this economy is what's preposterous.

[Jacque67 7,328]

Actually if you reread what you posted you did imply you were one of those in the know...however....

The havoc caused by getting rid of the central banks would be astronomical for starters...

[OriZ 3,157]

Actually if you reread what you posted you did imply you were one of those in the know...however....

The havoc caused by getting rid of the central banks would be astronomical for starters...

The havoc they themselves cause daily is much worse, trust me.

There was no federal reserve until 1913, the economy did just fine, actually better, on a relative basis(not talking about innovations of the past century that have nothing to do with them).

All they have done was introduce volatility.

Edited April 14, 2016 by OriZ

[OriZ 3,157]

And what I meant was not "in the know" in the way of being a fly on their wall or having too many connections anywhere close...but those of us who do market and economy related work, well some, not all, know a hell of alot more of what's going on behind the scenes than people that just see a few minutes of it on the news.

[Jacque67 7,328]

And what I meant was not "in the know" in the way of being a fly on their wall or having too many connections anywhere close...but those of us who do market and economy related work, well some, not all, know a hell of alot more of what's going on behind the scenes than people that just see a few minutes of it on the news.

Oh, for sure. You don't need to justify yourself to me-lol

After an A grade or something ?

The havoc they themselves cause daily is much worse, trust me.

There was no federal reserve until 1913, the economy did just fine, actually better, on a relative basis(not talking about innovations of the past century that have nothing to do with them).

All they have done was introduce volatility.

But deconstructing it now?? Seems a step backwards rather than forwards...

[OriZ 3,157]

What would doing it now cause? Do you think it would cause more financial disruptions than they themselves already do? I know what I'm saying right now might sound radical to you, or to most people, but I assure you it is not and I'm truly hopeful one day that might change. If you realized how much disruption and damage they do to financial markets and the economy you might change your mind. At least I hope to god you do. Hell they don't even set interest rates - the market does, they just basically follow the market. That is how in the other thread I was able to call BS(and for years before the thread) on their rate hike predictions, with the exception of Dec last year when I said they will actually do it and they did. Then they expected to hike 4 times this year and I said it was not happening and well guess what? Now they've lowered that to 2. Want to know where rates are headed? Follow T-Bills, not the FED. Their "economic forecasts" aren't worth the paper they are printed on. They are not the good guys that keep coming to the rescue that some people think they are - in fact they do NOTHING to promote growth or stability, all they do is cause larger booms and busts than would otherwise happen, and they do it with their own interests in mind(the banks that is). Some people actually believe the fed is owned by the gov...it is not, it is private. So at times it might seem like they created growth but in the end they only create a larger crash.

It is no coincidence the great depression was 16 years after the federal reserve act was enacted. They were in part responsible for the "roaring twenties" which was the boom that led to the bust. I have shown this chart in the past - you can see before 1913 - slow and steady whereas afterwards we just get larger swings but not alot of real net progress. This is the dow priced in gold which is the chart you would see in every paper if we were still under the gold standard. You can see that while people these days are obsessed with their nominal returns, they tend to forget what the fed did to REAL returns, real money, real purchasing power.

So no, I don't think there would be havoc as they are the number 1 havoc causing body today. Markets might freak out and overreact for a little while but eventually things will run alot smoother. Central banks are the largest load of BS ever created by governments, and the day that the majority of people realize this, we just might get riots.

[Jacque67 7,328]

What would doing it now cause? Do you think it would cause more financial disruptions than they themselves already do? I know what I'm saying right now might sound radical to you, or to most people, but I assure you it is not and I'm truly hopeful one day that might change. If you realized how much disruption and damage they do to financial markets and the economy you might change your mind. At least I hope to god you do. Hell they don't even set interest rates - the market does, they just basically follow the market. That is how in the other thread I was able to call BS(and for years before the thread) on their rate hike predictions, with the exception of Dec last year when I said they will actually do it and they did. Then they expected to hike 4 times this year and I said it was not happening and well guess what? Now they've lowered that to 2. Want to know where rates are headed? Follow T-Bills, not the FED. Their "economic forecasts" aren't worth the paper they are printed on. They are not the good guys that keep coming to the rescue that some people think they are - in fact they do NOTHING to promote growth or stability, all they do is cause larger booms and busts than would otherwise happen, and they do it with their own interests in mind(the banks that is). Some people actually believe the fed is owned by the gov...it is not, it is private. So at times it might seem like they created growth but in the end they only create a larger crash.

It is no coincidence the great depression was 16 years after the federal reserve act was enacted. They were in part responsible for the "roaring twenties" which was the boom that led to the bust. I have shown this chart in the past - you can see before 1913 - slow and steady whereas afterwards we just get larger swings but not alot of real net progress. This is the dow priced in gold which is the chart you would see in every paper if we were still under the gold standard. You can see that while people these days are obsessed with their nominal returns, they tend to forget what the fed did to REAL returns, real money, real purchasing power.

So no, I don't think there would be havoc as they are the number 1 havoc causing body today. Markets might freak out and overreact for a little while but eventually things will run alot smoother. Central banks are the largest load of BS ever created by governments, and the day that the majority of people realize this, we just might get riots.

Ah..an anarchist at heart;)

[elmcitymaven 9,712]

I like the reference to the Gilded Age as being a time when everything worked just fine.

As an aside, the X-axis on that graph is abysmal, irrespective of what the data actually is.