tag:blogger.com,1999:blog-11906042.post541088601337623156..comments2024-03-29T10:51:27.752+13:00Comments on Not PC: Bubble finance brings Australasia a new world-historical momentPeter Cresswellhttp://www.blogger.com/profile/10699845031503699181noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-11906042.post-36390044800655864622013-05-23T07:02:58.875+12:002013-05-23T07:02:58.875+12:00Thor42
Get out of cash. Cash is only pretty bits o...Thor42<br />Get out of cash. Cash is only pretty bits of paper with picturs of decaying dirt politicians and the like on them. You are accepting a present from a promise-maker who can never be trusted. It is a bit like what the neighbour's kid is saying to all the pretty girls he takes over there. He keeps making promises about respect and so on. They are always disappointed by what happens next. You can hear them get upset and the whining when it happens and when they get kicked out. Don't be one like that because when the meltdown comes and your money is either taken or becomes a pile of worthless promissory notes you will end up with a bad taste in your mouth just like the girls next door.<br /><br />AmitAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-11906042.post-43943093547022123142013-05-23T06:54:57.645+12:002013-05-23T06:54:57.645+12:00Sam
The "creation of cash" by a bank is...Sam<br /><br />The "creation of cash" by a bank is fraud. It is a lot like selling the same property two or more times. So long as more than one of the purchasers do not come over to claim the property the fraud goes undetected. It is still a fraud. When the second purchaser comes for his property then the fraud is realised and it is all on for one and all. But is already a fraud straight from inception already. <br /><br />Would a bank be free to create as much money as it likes? The true answer is it would be as free to do that as a man would be to steal from his neighbours. <br /><br />Amit Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11906042.post-73126310429388249262013-05-22T02:51:41.012+12:002013-05-22T02:51:41.012+12:00@thor42 I Wouldn't put that much trust in so c...@thor42 I Wouldn't put that much trust in so called "cash". If we are thinking in terms of decades for a super then we can almost be sure that bank deposits will be obliterated by inflation or a Cyprus style crisis, if it's not that the fiat currency hasn't straight up collapsed by then. Anyway isn't this so called cash often government bonds? Daniel Ahttps://www.blogger.com/profile/16610799189880417672noreply@blogger.comtag:blogger.com,1999:blog-11906042.post-91952671819489817932013-05-21T14:43:57.061+12:002013-05-21T14:43:57.061+12:00@Sam, you asked "wouldn't a bank be free ...@Sam, you asked "wouldn't a bank be free to create as much money as it wants under a libertarian banking system?"<br /><br />There are libertarians who say yes, and other libertarians who say it should be banned. (How they square that last circle, you'd have to ask them.)<br /><br />For mine, the best shortest answer was given by Ludwig Von Mises: Yes, banks should be free to create money so that no banks will want to.<br /><br />Think about it...Peter Cresswellhttps://www.blogger.com/profile/10699845031503699181noreply@blogger.comtag:blogger.com,1999:blog-11906042.post-70315830134230878592013-05-21T10:26:57.007+12:002013-05-21T10:26:57.007+12:00Well... corporate profits aren't exactly doing...Well... <a href="http://research.stlouisfed.org/fred2/graph/?g=iBB" rel="nofollow">corporate profits aren't exactly doing badly</a><br /><br />And anyway, wouldn't a bank be free to create as much money as it wants under a libertarian banking system?Samnoreply@blogger.comtag:blogger.com,1999:blog-11906042.post-81233948966097508202013-05-20T21:38:20.447+12:002013-05-20T21:38:20.447+12:00Very good post.
This is why my investment posit...Very good post. <br /><br />This is why my investment position has been ultra-conservative for the last 5 years or so (and will be for the forseeable future). <br /><br />Of the money going into my super fund, 96% goes into a cash fund. Two percent goes into a "conservative fund" with small exposure to shares, and the last two percent goes into a moderate fund with a bit more share exposure. <br /><br />If the very worst happens and the "mother of all financial meltdowns" comes along, I still have 96% of my funds in cash - damned-near untouched. Anonymousnoreply@blogger.com