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okaycuckoo

Crisis Of Values

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In context, this is very strong - Bill Still video with a sound recording of an outburst by this economist ...

Sachs is considered left wing (US standard), well connected. He really loathes the bankers and is agnostic on fractional reserve lending - so long as you can maintain liquidity, get rid of it. Plus he comes straight out with accusations of fraud against people who can sue him to death.

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In context, this is very strong - Bill Still video with a sound recording of an outburst by this economist ...

Sachs is considered left wing (US standard), well connected. He really loathes the bankers and is agnostic on fractional reserve lending - so long as you can maintain liquidity, get rid of it. Plus he comes straight out with accusations of fraud against people who can sue him to death.

A good man. He says as it is. This world needs more people like him.

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We'll have to see. Sachs is one of the men who helped oversee the post soviet criminal/oligarch free for all. He always seemed a bit to Friedman-ite for me: Just scrap regulations and all will be OK. That didnt turn out so great.

Disgraceful people like summers et al arent shunned out of town, let alone given a top job by Obama.

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We'll have to see. Sachs is one of the men who helped oversee the post soviet criminal/oligarch free for all. He always seemed a bit to Friedman-ite for me: Just scrap regulations and all will be OK. That didnt turn out so great.

Disgraceful people like summers et al arent shunned out of town, let alone given a top job by Obama.

He seems to be very honest in this audio. That doesn't mean I agree with everything he has done. I think he has learned his lessons about free market, it needs rules (values) otherwise you have wild west where the strongest and unscrupulous takes all. He is supporting glass-steagall.

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He seems to be very honest in this audio. That doesn't mean I agree with everything he has done. I think he has learned his lessons about free market, it needs rules (values) otherwise you have wild west where the strongest and unscrupulous takes all. He is supporting glass-steagall.

I think glass steagall really is a red herring. Consider the savings and loans crisis occured under glass steagall and cost the US taxpayer billions, despite those being wholly retail operations. Consider also Steve Keens observation that by the time G-S was abolished in 1998, total financial debts had already passed the % of GDP size they did at the height of the 20s bubble.

The problem is the fractions used under fractional reserve and only that. Sort that out and we wouldnt even be thinking about glass steagall.

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I think glass steagall really is a red herring. Consider the savings and loans crisis occured under glass steagall and cost the US taxpayer billions, despite those being wholly retail operations. Consider also Steve Keens observation that by the time G-S was abolished in 1998, total financial debts had already passed the % of GDP size they did at the height of the 20s bubble.

The problem is the fractions used under fractional reserve and only that. Sort that out and we wouldnt even be thinking about glass steagall.

You wouldn't even need to regulate fractions, leverage ratios or anything else if you did two things.

1) only allow banking licences to partnership structures so the directors are financially liable

2) abolish the lender of last resort and licence a money broker exchange in order to provide transparent market based funding .

You would not need ANY regulation as reckless lending on a systemic basis would be punished by higher market rates instantaneously and directors would make sure ALL financial institutions had a shit load of reserves to back up their liabilities . The government could still in extreme circumstances provide liquidity but at pre determined rates which would be erroneously high and at a charge on reserves and directors own wealth

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  • 239 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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