General

Re: CALL FOR UNIFIED REGULATION OF GLOBAL BANKING...

Don Roberto — Thu, 03 Jul 2008 14:45:47 GMT

histhasthai:
That's close to the right track, but the results would not be nearly as good as you hope.

Well, I wasn't hoping to get a positive sum game out of all this. As you pointed out the booms will be more 'violent' (as I wrote to the end of my post). But these somewhat out of context analysis is exactly what those who make the decisions use to convince the public. They simply bring forward these half-truths which by themselves are not wrong but just don't give the whole picture.

histhasthai:
Even I'm becoming worried that the US is due for a complete collapse, perhaps as soon as the next 4-5 years, and I'm not prone to doomsday scenario thinking.

I got a similar feeling sometime in January-February. But what I think is a really big problem is that if this 'doomsday' should come there might not be a way out. Since politicians have spent all this time convincing us that we are currently living in a capitalistic and free world, it's gonna take time to get the people accept the truth. And because almost everyone would then believe that capitalism was at fault (let's not forget that FDR is still a big hero who saved the world from the baad markets), it could very easily happen that the world could become entirely socialist.

Re: CALL FOR UNIFIED REGULATION OF GLOBAL BANKING...

histhasthai — Thu, 03 Jul 2008 13:57:11 GMT

Don Roberto:
I was thinking that maybe there is a positive side to this. With one global central bank the depressions would become simultanious all over the world instad of this mess that is happening today. Perhaps it would even shorten the recovery-time.

That's close to the right track, but the results would not be nearly as good as you hope. What it will do, in the short term, to allow another, perhaps the final, economic boom based not on actual productivity and sound economic priniciples, but on more quickly and efficiently draining the massive capital surplus the world has built up over the centuries. The resulting bust will be more widespread, devastating, and final than any yet seen - there will then be no lender of last resort to appeal to, no one left to bail out the system when the system is everything there is.

Even I'm becoming worried that the US is due for a complete collapse, perhaps as soon as the next 4-5 years, and I'm not prone to doomsday scenario thinking. This would buy a little more time to be prepared, but ultimately lead to a more complete collapse than even the US alone is capable of causing. I'd see it as an opportunity - to husband resources, accumulate capital and get it into hard assets like metals, land, etc., and prepare to begin rebuilding when the world has cleared the way for it by it's own stupidity. Why should we work at bringing the system down, when it seems all to willing to do the work for us?

Re: CALL FOR UNIFIED REGULATION OF GLOBAL BANKING...

Don Roberto — Thu, 03 Jul 2008 07:40:20 GMT

anonnymous:
Same story line as before but just on a global scale.

I was thinking that maybe there is a positive side to this. With one global central bank the depressions would become simultanious all over the world instad of this mess that is happening today. Perhaps it would even shorten the recovery-time.

...setting aside that the depressions themselves would become Titanics instead of some small fisherboats.

Re: CALL FOR UNIFIED REGULATION OF GLOBAL BANKING...

Jay — Thu, 03 Jul 2008 07:25:24 GMT

Felix:

Agree. Central banks are often inefficient. Global financial system was much more stable during Bretton Woods agreement.

Hmm...where do you see the global financial system moving in the future?

Re: CALL FOR UNIFIED REGULATION OF GLOBAL BANKING...

Superfluous — Mon, 23 Jun 2008 07:50:44 GMT

Good, bad or irrelevant?

WSJ: Citigroup to Cut 10%
of Investment Banking Jobs

http://online.wsj.com/article/SB121416925522495095.html?mod=hpp_us_whats_news

Re: CALL FOR UNIFIED REGULATION OF GLOBAL BANKING...

Felix — Sat, 14 Jun 2008 09:59:02 GMT

Agree. Central banks are often inefficient. Global financial system was much more stable during Bretton Woods agreement.

Re: CALL FOR UNIFIED REGULATION OF GLOBAL BANKING...

anonnymous — Thu, 12 Jun 2008 23:44:38 GMT

Superfluous:

What would the Founders say?

The founders rolled in their graves long ago.

Re: CALL FOR UNIFIED REGULATION OF GLOBAL BANKING...

anonnymous — Thu, 12 Jun 2008 23:43:37 GMT

well, no one really thought that we could have a one world government without having a one world bank did you? It seems to me it is a done deal as we speak, this was just a formality. The bankers will cause a depresion this world can not even begin to imagine and then people will demand a one world bank as the solution. Same story line as before but just on a global scale. Take this time to prepare your selves for the hard rain thats going to fall. Try and convince your neighbors and friends to do the same, for them to suggest such an idea shows that they have the plan in place and now it is just a matter of geting the world, particlurly the U.S., to want a one world bank.

Re: CALL FOR UNIFIED REGULATION OF GLOBAL BANKING...

Superfluous — Thu, 12 Jun 2008 23:14:07 GMT

What would the Founders say?

Re: CALL FOR UNIFIED REGULATION OF GLOBAL BANKING...

Solredime — Tue, 10 Jun 2008 14:48:44 GMT

ChaseCola:

Might be better than a national central bank, at least this way countries can't print their ways through wars or debts.

That's kind of naive. Banks are known to finance both sides of a conflict, to hedge their bets, and also to create conflicts for their political friends.

Re: CALL FOR UNIFIED REGULATION OF GLOBAL BANKING...

ChaseCola — Tue, 10 Jun 2008 03:04:40 GMT

Nitroadict:

ChaseCola:

Mark B.:

This clearly is a call for a global central bank. Would be disastrous if they actually managed to establish a global central bank.

Might be better than a national central bank, at least this way countries can't print their ways through wars or debts.

While we're at it, let's all hope that a global central bank paves the way for that wonderful global government that seems to do the Star Trek universe wonders.

lol, i'll pass on that one.

Re: CALL FOR UNIFIED REGULATION OF GLOBAL BANKING...

ViennaSausage — Tue, 10 Jun 2008 02:22:16 GMT

Superfluous:
NY Fed chief urges global bank framework

OMG.

Re: CALL FOR UNIFIED REGULATION OF GLOBAL BANKING...

Nitroadict — Tue, 10 Jun 2008 02:14:05 GMT

ChaseCola:

Mark B.:

This clearly is a call for a global central bank. Would be disastrous if they actually managed to establish a global central bank.

Might be better than a national central bank, at least this way countries can't print their ways through wars or debts.

While we're at it, let's all hope that a global central bank paves the way for that wonderful global government that seems to do the Star Trek universe wonders.

Re: CALL FOR UNIFIED REGULATION OF GLOBAL BANKING...

ChaseCola — Tue, 10 Jun 2008 01:11:11 GMT

Mark B.:

This clearly is a call for a global central bank. Would be disastrous if they actually managed to establish a global central bank.

Might be better than a national central bank, at least this way countries can't print their ways through wars or debts.

Re: CALL FOR UNIFIED REGULATION OF GLOBAL BANKING...

wombatron — Tue, 10 Jun 2008 01:07:47 GMT

Mark B.:

This clearly is a call for a global central bank. Would be disastrous if they actually managed to establish a global central bank.

I agree. Maybe another decade of pseudo-growth, followed by the most disasterous depression the world has ever seen, leaving the survivors digging in the woods for roots and berries.

General

Re: CALL FOR UNIFIED REGULATION OF GLOBAL BANKING...

Re: CALL FOR UNIFIED REGULATION OF GLOBAL BANKING...

Re: CALL FOR UNIFIED REGULATION OF GLOBAL BANKING...

Re: CALL FOR UNIFIED REGULATION OF GLOBAL BANKING...

Re: CALL FOR UNIFIED REGULATION OF GLOBAL BANKING...

WSJ: Citigroup to Cut 10% of Investment Banking Jobs

Re: CALL FOR UNIFIED REGULATION OF GLOBAL BANKING...

Re: CALL FOR UNIFIED REGULATION OF GLOBAL BANKING...

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Re: CALL FOR UNIFIED REGULATION OF GLOBAL BANKING...

Re: CALL FOR UNIFIED REGULATION OF GLOBAL BANKING...

Re: CALL FOR UNIFIED REGULATION OF GLOBAL BANKING...

WSJ: Citigroup to Cut 10%
of Investment Banking Jobs