So Karl is this all hat and no cattle? You backing specie now? Seems long on promise; short on detail. One would think that had plans been made you would want your core supporters to know the details so they could fax and call their congresscritters in support of "alleged" plans? NO?

This book is dedicated to

Trades4beer, you're OBVIOUSLY new around here....
see the "volunteers" thread in FedUp.

"Where's Your Unicorn Now Bitch?"

Bring back the granite standard and demand physical!

Nice. Can't wait to buy a copy Karl.

Quote:

"Where's Your Unicorn Now Bitch?"

did we miss this?
I don't remember reading about it on here

this KUCINICH bill was submitted November 23, 2010

KUCINICH Introduces an employment bill that Reforms Our Money System: The National Emergency Employment Defense Act (NEED) proposes an historic money reform ending "fractional reserve" banking

http://kucinich.house.gov/UploadedFiles/....
http://www.monetary.org/

I tickered it at the time.

Karl, I suspect the banking elite are far more afraid of you and Bill than they are of any central bank or the whole passel of lap-dog regulators. What you suggest is nothing short of the end of sovereignty-theft by usury - a wholescale emasculation of the rentier class. As such, you have powerful enemies. May God go with you. We may not always agree, but my respect for patriots like you is unshakable. Be well.

still mentions doing away with fractional reserve lending. i thought karl was in favor of frl. seems i'm getting conflicting messages here.

also what are the dynamics of money creation where banks are allowed to increase the so called "normal" leverage banks should be allowed? and what is "normal"?

Critter, wouldn't it be great if someone could write a book on Leverage and cover some of those topics?

Critter look for the ticker on one dollar of capital.

Did I hear Bill refer to Karl as a goldbug?

karl & bill: the butch cassidy & the sundance kid of bankstersdom
i know i know ... makes no sense on its face

but im talking about the part of the movie where paul & robert 'er i
mean butch & sundance go to work for the miner guarding him on his payroll
rides y'know working on protecting the dinero from the robbers who
present day are the banksters so it does make sense

well at least to me but im still feeling the effects of yesterday's
legailize our weed already thread

so if your milage varies understood

now back to our program already in progress ...

KD I applaud you and all your efforts to tackle this problem. You are a true patriot and have been a guiding light to many many souls.

Best of luck to you and I wish you well.

Many of us have never quit trying, but you really hit the ball out of the park with your efforts and abilities to communicate.

Both of my parents were born in farms in Ireland and I have been there many times in my life, so I hate what I see happening there. One cousin I have butted head with is very tied to the former ruling party (when he came to the US for a vacation, he got calls 24/7 from party officials asking his advice).
I even sent him links to the videos Karl and Bill did on Ireland, before the election.
His response was 'What do they know about Ireland?' I replied, they know about money and can look from the outside to see the problems from an objective point of view. Unfortunately, he's in favor of the bailouts as are majority of the pols.
They have the same problem our pols here in the US have (pointed out clearly in the great Max Keiser vids on Ireland). They want to believe the lie was real and we can just go back there with no pain. 'Just eat you beans and you can have ice cream'. No one wants to believe they are in a hole digging deeper. I am afraid that only when the top starts caving in will adults stand up. I'm concerned who those adults will be.

US Greek CDS exposure....also Ireland and Spain and Portugal.......

http://streetlightblog.blogspot.com/2011....

Here we go with the "net netting" again, I'll never understand this, probably because its BS

1.If multiple parties sell "insurance" against a default on certain positions and that "insurance" all "nets out"........who has any insurance then?

2.Since its been known for the last 2 or more years that Greece was bound to default who the hell would sell the insurance in the first place?

These guys on Wall Street would obviously sell "life insurance" to a CORPSE now!

Hey the premiums are great for the bonus pool


I suspect all this netting out they speak of is true but what they actually mean is that it all nets out to The Bernank and therefore to us the taxpayers.

The problem with fractional reserve banking is that there isn't enough money to cover deposits - it is inflationary since people don't have to save or get the other people's savings to spend, the bank can give them 90% of saver's money but pretend it is still there.

I would just convert bank (and credit union) accounts to mutual fund accounts if the depositor didn't want to change. A mutual fund doesn't need a large cash position but can halt redemptions if there is a run (or borrow or do something else). But it would be a mutual fund for local businesses with the traditional bank lending (and the original lending standards)

There are some treasury only funds that you can write drafts (checks) on, though they typically have fees or limits.

In Japan, interest rates were so low that everyone kept yen in a safe - the Tsunami ended up making a lot of them part of the rubble so getting them back to the owners was complicated. But that is what happens with really low interest rates.

For banks, you can have US Treasury Only money-market funds (and get interest, maybe negative after management fees), pay a fee to store your funds $1 for $1, buy a safe-deposit box so you can also store coins, or have a checkable 100% MMF that your checks might bounce in a crisis.

LOOOOOOOOOOOVE the thunder & lightning in the background!

RE: Karl's book...pre-order today!!

http://www.barnesandnoble.com/w/leverage....

What would you all recommend as Austrian economics 101 for liberal arts majors like me?

If I'm going to be one of the Austrians beating down the doors of Congress that Bill refers to, I figure I better know what I'm talking about.

I have Hayek's Road to Serfdom in stack next to bed. What else?

Bill Still does seem quite extreme in wanting a central government monopoly on money creation. I remember Karl opposing something like this when I first started reading the Ticker. There's no reason why you shouldn't have banks creating money for secured loans.

Bill Still says that there's no reason to have governments borrow money, but I can think of a very good reason - it allows the government to abuse its monopoly position on money creation. If the government decided to provide some kind of good or service, there is simply no way that the private sector could compete against it, because the private sector would have the additional cost of paying interest on its borrowing for capital expenditure.

I'd have thought a much better system would be for governments borrow money on a genuine free market, so that anyone with capital can get a fair return on lending to the government - not just the primary dealers.