tag:blogger.com,1999:blog-3026964724548353970.post3076650792519535922..comments2023-03-07T07:45:34.135-08:00Comments on The Honest Ex-Bankers and "Economics For The Rest Of Us" @HonestBanker1: Canada Plans for its own Cyprus ScenarioHonest Bankerhttp://www.blogger.com/profile/02177040931207771731noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-3026964724548353970.post-41436563370242032642013-04-01T12:17:24.199-07:002013-04-01T12:17:24.199-07:00Hmmm, tough question. Not sure in Canada - have ...Hmmm, tough question. Not sure in Canada - have seen no plans here. I cannot say for sure, but I think such an idea would be the death knell for the stock market. The powers that be in various central banks and finance ministries are almost always fanatically committed to keeping stock markets at high levels. This is part of the reason we see the US Fed carrying on with its money printing or QE programs. A such, I cannot see then going after a portion of stock market shares. :-) Honest Bankerhttps://www.blogger.com/profile/02177040931207771731noreply@blogger.comtag:blogger.com,1999:blog-3026964724548353970.post-89804740232564291932013-04-01T11:58:32.574-07:002013-04-01T11:58:32.574-07:00Honest Ex-Banker,
Is there a similar plan that de...Honest Ex-Banker,<br /><br />Is there a similar plan that deals with brokerage houses? Would western governments nationalize a portion of outstanding stock shares in each account?Jim Rockhttps://www.blogger.com/profile/12279873665969791754noreply@blogger.comtag:blogger.com,1999:blog-3026964724548353970.post-21134242802817099292013-03-28T15:00:20.486-07:002013-03-28T15:00:20.486-07:00I concur on the nickle-and-dime approach combined ...I concur on the nickle-and-dime approach combined with inflation as a form of silent theft.<br /><br />What will be different if this develops will be that accounts get a full scale raid instead of the usual fees.<br /><br />This, BTW, is the 100th annivesary of the US Fed. A dollar in 1913 is now worth about 5 cents! Honest Bankerhttps://www.blogger.com/profile/02177040931207771731noreply@blogger.comtag:blogger.com,1999:blog-3026964724548353970.post-7865205949676363892013-03-28T14:43:30.302-07:002013-03-28T14:43:30.302-07:00Banks have been converting liabilities, i e deposi...Banks have been converting liabilities, i e deposit moneys into assets, i e taking them in fees and other legally sanctioned schemes for hundreds of years. In fact that is how banks operate. Europeans have seen bank saving consistently raided in this fashion. In Canada and the US we do it differently: we make certain that the value of money constantly erodes (Check out the CPI to find out what a Nixon era dollar is worth today and plan to be shocked). Today banks contribute to dollar value erosion most effectively by creating and trading in instruments like default credit swops which are entirely artificial assets which no actual underlying value and when caught short, as they notoriously were four years ago, demanding the shortfall be made up by the likes of AIG who in turn look to the federal governments to provide quantitive easing, another was of saying pay he bill. The only way the feds can do that is by printing more money. Which is what they have done.<br /><br />fractureshttps://www.blogger.com/profile/04833585059307103833noreply@blogger.com