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Cake day: June 13th, 2023

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  • So if I understand correctly, the reason it’s outdated is not because we don’t need those pesky banking regulations any more, but that it has been found that banks will just take out their own loans to cover the reserves they need from the central bank, so they can just lend as much as they want, no seatbelts. And the central bank will never run out of loans to give, since they have insane reserves, in their own currency it is technically unlimited.

    So money is not really the thing we think it is. If banks overextend themselves and fuck up, the only thing we’ll see instead of failing banks is runaway inflation in the consumer and asset (housing) markets. Wonder where I’ve seen that.










  • Except we would grab loans from our banker friends who are also in on the scheme, and use some of that money to pay taxes and buy some congresscritters to avoid further taxes. The banker guys would then grab some loans themselves, preferably also from each other, as they slowly repackage the whole thing and then sell it to retirement funds to make it everyone else’s problem. /s