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Comment: Re: Great Recession part II? (Score 0) 742

by jcr (#49772685) Attached to: Greece Is Running Out of Money, Cannot Make June IMF Repayment

The Fed is not to blame for the predatory lending practices of the giant corporate banks

The Fed is definitely to blame for providing the banks with an unlimited amount of fiat money to lend. If the banks were limited to lending out their deposits, the interest rates would provide a natural limiting effect.

-jcr

Comment: Re: Great Recession part II? (Score 0) 742

by jcr (#49772681) Attached to: Greece Is Running Out of Money, Cannot Make June IMF Repayment

Unlike you, I actually understand the economy

As conceited as you are ignorant. How tragic.

if you had at least two brain cells ...and bereft of a logical argument, naturally you resort to being snotty.

The Fed has caused a series of bubbles by fucking with interest rates. Latin American debt, the dot-com bubble, and the most recent real-estate bubble are just three in a series going back to the Fed's inception.

When they interfere with interest rates, they break the crucial information flow. When there's an endless supply of fiat currency, the market signal of the scarcity of capital is destroyed. Read and learn.

-jcr

Comment: Re: Great Recession part II? (Score 0) 742

by jcr (#49767389) Attached to: Greece Is Running Out of Money, Cannot Make June IMF Repayment

You are a moron.

Coming from you, that carries no weight at all.

Fiat currency has nothing to do with the 2008 crisis.

What's your next guess?

The whole problem was caused by a huge shadow banking system that essentially allowed to use private debts as if they were a currency.

All enabled by the Fed. You really weren't paying attention, were you?

Without the Fed holding down the interest rates by inflating the currency, rising rates would have limited the pyramiding of debt on debt.

-jcr

"When in doubt, print 'em out." -- Karl's Programming Proverb 0x7

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