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Comment Re:This is a propaganda war first of all (Score 1) 623

New Ukrainian government doesn't need ANY help in being portrayed as nazi sympathizers. Do you know what was the VERY FIRST law proposed to the Ukrainian Parliament after the revolution? Try to guess.

Ok, here's the answer - cancellation of the law against the denial of nazi crimes or nazi propaganda. Ultimately, this law was tabled (in Feb 28) but in the very first day the law about the regional language was canceled.

And just yesterday - Ministry of International Affairs said that Russians in Ukraine are not a native nationality but a diaspora, so they don't have any rights of self-determination. Just to assure Crimeans that they made the right choice and ditched that nazi losers in Kiev.

Comment Re: Makers and takers (Score 1) 676

Dude, M1 went up almost 3 _times_ during the last 4 years ( http://research.stlouisfed.org...). Do you see 250% inflation? I certainly don't. Nor does Billion Prices Project which monitors the cost of "Actual Groceries"(tm)(r).

And I don't care if you define inflation per millisecond or whatever. The end result is the same - there has been no hyperinflation episodes recently, exactly because central banks got quite good at lowering inflation.

Comment Re: Makers and takers (Score 1) 676

M1 changes are meaningless. They are NOT inflation. Inflation in 1947 was 18.13%, according to BLS ( http://www.multpl.com/inflatio... ).

The highest inflation after that was 13.91% in 1980, it was not a hyperinflation by any stretch. And I lived through an _actual_ period of hyperinflation after the USSR breakup.

Comment Re:Makers and takers (Score 1) 676

:facepalm: Do you realize that hyperinflation is impossible without actually _inflating_ the money supply? Which is controlled by the central banks.

Here's a list of hyperinflation episodes during the last 100 years: http://www.cato.org/sites/cato...

Do you see there any developed country with a central bank controlled by these devious money-grabbing bankers? Nope. All such countries have generally stable currencies and moderate inflation. There's a simple reason for that - inflation hurts rich people dis-proportionally. While deflation actually benefits them somewhat and hurts poor people.

Comment Re:Makers and takers (Score 3, Insightful) 676

First, central bankers have shown a remarkable restraint. There haven't been ANY hyperinflation episodes in developed countries for more than 50 years. Even in developing countries or xUSSR countries most hyperinflation episodes are linked with political upheavals.

In fact, right now ECB doesn't print _enough_ money - inflation is way under the targeted level, threatening to go into outright deflation.

Comment Re:Can someone explain this theft? (Score 1) 232

Incorrect. A crooked bank teller would be put into prison and bank would have to compensate you. In the case of a crooked bank president the _government_ (or state-run bank insurance organization like FDIC) would have to compensate you.

The classic banking system evolved for a LONG time to minimize the effects of bank failures and bad bank employees. Besides, it's almost impossible to actually _steal_ money from a bank. Sure, you can rob a bank and maybe get a couple hundred thousands in cash. But stealing any non-trivial sum is impossible, because accounts are not kept in anonymous cash.

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