Just a taste of things to come (End of the World) | Cyprus

This too shall pass.
Mr. Perfect
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Re: Just a tast of things to come (End of the World) | Cypru

Post by Mr. Perfect »

I ran into this leftwing brainless zombie arguing the this is a good thing and the natural order of things. What is it about leftists that they can continually stand for things they used to oppose (neoconservatism, helping the rich get richer, etc)

http://www.slate.com/articles/business/ ... tains.html

It is too brainless to post the text, but in case you read it you should realize that it was the left that created things like FDIC and Central Banks for the precise reason that depositors not be considered creditors, and this move by the powers that be is just the beginning of the capitulation for this leftist bedrock principle.
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Enki
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Re: Just a tast of things to come (End of the World) | Cypru

Post by Enki »

The FDIC stabilized banks.
Men often oppose a thing merely because they have had no agency in planning it, or because it may have been planned by those whom they dislike.
-Alexander Hamilton
Mr. Perfect
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Re: Just a taste of things to come (End of the World) | Cypr

Post by Mr. Perfect »

That's not what the Slater writer is talking about.

FDIC is simply insurance, if there was no FDIC banks would find other forms of insurance. The leftist guiding principle has been the depositors should not be considered creditors and deserve protection (FDIC/Central banks/fiat currency) which has now been cast aside, easy come easy go leftist style.
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Zack Morris
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Re: Just a taste of things to come (End of the World) | Cypr

Post by Zack Morris »

Mr. Perfect wrote: FDIC is simply insurance, if there was no FDIC banks would find other forms of insurance.
But they didn't and that's why the FDIC was formed.
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Re: Just a taste of things to come (End of the World) | Cypr

Post by Mr. Perfect »

They also did not have airbags in 1933 but do now. Banks use derivatives to insure their positions now also, with a near perfect record except in gov't meddled in markets (subprime).

BTW the FDIC and Fed failed to cover the losses of the Democrat subprime mortgage collapse, illustrating for the umpteenth time the folly of central planning/chainsaw circumcision, now this slate.com nitwit is challenging the very basis of the Democrat created Fed and FDIC itself.

So back to the drawing board for you.
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Zack Morris
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Re: Just a taste of things to come (End of the World) | Cypr

Post by Zack Morris »

Unlike airbags, the technology for insuring bank deposits existed before 1933. And it exists today for deposits higher than the FDIC guarantees. Neither I nor anyone else I know lost any money in FDIC-insured accounts.
Mr. Perfect
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Re: Just a taste of things to come (End of the World) | Cypr

Post by Mr. Perfect »

Zack Morris wrote:Unlike airbags, the technology for insuring bank deposits existed before 1933. And it exists today for deposits higher than the FDIC guarantees. Neither I nor anyone else I know lost any money in FDIC-insured accounts.
Because the government bailed out the banks Zack Morris. Surely they wouldn't have done that if they thought the Fed or the FDIC could fulfill their functions Zack Morris. Wouldn't they?

What is your area of knowledge, proficiency Zack Morris. Do you have any professional knowledge of any topic?

But Zack Morris, we run again into your titanic reading comprehension issues, deposit insurance is failing in Cyprus, at the hands of the European Keynesian leftists who instead of insuring the accounts are raiding the accounts, contrary to the leftist principles you are championing, while a leftist brainless zombie at salon directly contradicts you and called for depositors to be considered creditors, who should not be protected.

Are you following any of this? What about this world do you understand, if anything.
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Taboo
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Re: Just a taste of things to come (End of the World) | Cypr

Post by Taboo »

Mr. Perfect wrote:They also did not have airbags in 1933 but do now. Banks use derivatives to insure their positions now also, with a near perfect record except in gov't meddled in markets (subprime).
But since government and markets are always intertwined, that's like saying that a certain fellow has a perfect driving record, except for those few times he plowed into a crowd of pedestrians.
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Re: Just a taste of things to come (End of the World) | Cypr

Post by Mr. Perfect »

Some markets are more involved than others. For example, look into this market:

http://www.tommiecopper.com/

Then look at this one:

http://www.medicare.gov

Let me know which one has more gov't involvement.
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