tag:blogger.com,1999:blog-648884752216444797.post3971035480736669831..comments2024-03-28T09:59:13.754-07:00Comments on bionic mosquito: Walter, You Can Do Better*bionic mosquitohttp://www.blogger.com/profile/12002548958078731031noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-648884752216444797.post-59843076068045566022016-07-15T04:52:25.950-07:002016-07-15T04:52:25.950-07:00The brilliant "anonymous" adding so much...The brilliant "anonymous" adding so much value to the conversation with this well-reasoned and thoroughly developed argument. Thank you for stopping by.bionic mosquitohttps://www.blogger.com/profile/12002548958078731031noreply@blogger.comtag:blogger.com,1999:blog-648884752216444797.post-15527484402645842572016-07-14T21:31:44.332-07:002016-07-14T21:31:44.332-07:00There's not only A, B and C in fractional rese...There's not only A, B and C in fractional reserve banking. But D, E, F and all the way to Z. So your theory of FRB being "legal" falls apart as well. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-648884752216444797.post-20935958247712489972016-07-12T14:38:00.454-07:002016-07-12T14:38:00.454-07:00Igor
I could be smug and say "take it up wit...Igor<br /><br />I could be smug and say "take it up with Walter." You see, he understands it is a loan, yet he persists in pretending it is not.<br /><br />As to what people believe...Many people believe that Iraq was behind 911; does this make the subsequent invasion by Bush OK?<br /><br />People are want to believe many silly things. If they choose to believe that the bank holds their money without charging them for storage - and on top of this pays interest while holding the money; if they choose to believe that the bank can offer many other services for free....<br /><br />In the meantime, virtually 100% of the time people have been able to access 100% of their money - ever since governments backstopped the banks (which we all are betting our lives on the hope that this never ends; more on this momentarily). So, what is there for you (or the people) to complain about? (I will answer that for you: the monopoly, nothing else.)<br /><br />But to answer your last question - if the banks ever fail to deliver, they will riot...for a few days, and then we will all starve. Because without a functioning payment system, 99% of us in the developed world are dead.<br /><br />bionic mosquitohttps://www.blogger.com/profile/12002548958078731031noreply@blogger.comtag:blogger.com,1999:blog-648884752216444797.post-80302258502424601812016-07-12T13:19:29.595-07:002016-07-12T13:19:29.595-07:00Mr. Mosquito, you're big on realism, yes? Theo...Mr. Mosquito, you're big on realism, yes? Theory and all that is fine but realism is what matter, right? Then let me ask you this: realistically, what do the 99.99% of the bank customers think? Do they think they're giving the bank a loan which may or may not be paid back on demand? Or are they convinced that they have every right to that money and are not, in fact, lenders? What will they do when they realize that only X% of their money actually exists, shrug or riot?<br /><br />Igor KarbinovskiyAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-648884752216444797.post-39929688104757729082016-07-12T09:25:35.257-07:002016-07-12T09:25:35.257-07:00As Walter recognizes that A is making a loan, he m...As Walter recognizes that A is making a loan, he must also recognize that A is not making a deposit - demand or otherwise; at least not a deposit in any traditionally understood sense.<br /><br />Therefore his entire position falls apart.bionic mosquitohttps://www.blogger.com/profile/12002548958078731031noreply@blogger.com