Re: Money from nothing
Inviato da Ashoka il 10/5/2006 15:38:06
quindi se io m'indebito con una banca comerciale, o io banca commerciale m'indebito con la banca centrale, e gli do gli attivi, cioč i titoli, se sono aria fritta io sarei "libero di non restituire nulla".... bella faccia tosta che hai
Permitting bank to refuse payment
All these limits, of course, rest on one fundamental obligation: the duty of the banks to redeem their sworn liabilities on demand. We have seen that no fractional-reserve bank can redeem all of its liabilities; and we have also seen that this is the gamble that every bank takes.
[..]
The bluntest way for government to foster inflation, then, is to grant the banks the special privilege of refusing to pay their obligations, while yet continuing in their operation. While everyone else must pay their debts or go bankrupt, the banks are permitted to refuse redemption of their receipts, at the same time forcing their own debtors to pay when their loans fall due. The usual name for this is a "suspension of specie payments." A more accurate name would be "license for theft;" for what else can we call a governmental permission to continue in business without fulfilling one's contract?
C'č anche il termine tecnico... Suspension of specie payments
Invece tu per ottenere il tuo bel mutuo per comprarti la casa la ipotechi e se non paghi il mutuo la casa va alla banca...
ma poi venne la Banca Centrale...
The Central Bank proceeded to invest the private banks with the public's confidence. This was a more difficult task. The Central Bank let it be known that it would always act as a "lender of last resort" to the banks-- i.e., that the Bank would stand ready to lend money to any bank in trouble, especially when many banks are called upon to pay their obligations.
Ricordiamo poi che gran parte degli economisti (gli inflazionisti) hanno un sogno:
Clearly, the inflationists' dream is some sort of world paper money, manipulated by a world government and Central Bank, inflating everywhere at a common rate.
Ashoka
Permitting bank to refuse payment
All these limits, of course, rest on one fundamental obligation: the duty of the banks to redeem their sworn liabilities on demand. We have seen that no fractional-reserve bank can redeem all of its liabilities; and we have also seen that this is the gamble that every bank takes.
[..]
The bluntest way for government to foster inflation, then, is to grant the banks the special privilege of refusing to pay their obligations, while yet continuing in their operation. While everyone else must pay their debts or go bankrupt, the banks are permitted to refuse redemption of their receipts, at the same time forcing their own debtors to pay when their loans fall due. The usual name for this is a "suspension of specie payments." A more accurate name would be "license for theft;" for what else can we call a governmental permission to continue in business without fulfilling one's contract?
C'č anche il termine tecnico... Suspension of specie payments
Invece tu per ottenere il tuo bel mutuo per comprarti la casa la ipotechi e se non paghi il mutuo la casa va alla banca...
ma poi venne la Banca Centrale...
The Central Bank proceeded to invest the private banks with the public's confidence. This was a more difficult task. The Central Bank let it be known that it would always act as a "lender of last resort" to the banks-- i.e., that the Bank would stand ready to lend money to any bank in trouble, especially when many banks are called upon to pay their obligations.
Ricordiamo poi che gran parte degli economisti (gli inflazionisti) hanno un sogno:
Clearly, the inflationists' dream is some sort of world paper money, manipulated by a world government and Central Bank, inflating everywhere at a common rate.
Ashoka
Messaggio orinale: https://old.luogocomune.net/site/newbb/viewtopic.php?forum=46&topic_id=103&post_id=22583