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Wow. I don't know where to start with some of these comments. There's just a real lack of understanding of central banking. Protip: Your critique of "status

Wow. I don't know where to start with some of these comments. There's just a real lack of understanding of central banking. Protip: Your critique of "status quo" (e.g. central banking) systems will be taken more seriously when you demonstrate thorough knowledge of the subject matter and don't rely on emotionally laden arguments involving "fraud" and "lies."

meric 11y ago
Whether the critics are aware of how central banking works, central banks are losing credibility. They've tried everything in Japan & Europe, getting governments trillions into debt, and now they want to go negative interest rates. Clearly what they did before didn't work, and now they are trying something else. They're shooting in the dark and unknowingly killing the economy. It doesn't take a genius to figure out people will just keep cash at home if you impose negative interest rates, and by keeping cash away from banks, reduce the reserves banks hold, and the money they can lend, reducing the money supply, exacerbating the deflation the NIRP was supposed to fight in the first place.[1] There's no fraud and no lie, except for the fact central bankers operate on economic models detached from reality. The only lie is claiming to know more than they do. The policies the Japanese central bank tried to impose to lower the value of the Yen in the past few months, only raised it. https://au.finance.yahoo.com/q/bc?s=USDJPY=X&t=3m&l=on&z=l&q=l&c= https://au.finance.yahoo.com/q/bc?s=USDJPY=X&t=3m&l=on&z=l&q... "Central bank impotency" heading your way. [1] http://www.wsj.com/articles/japanese-seeking-a-place-to-stash-cash-start-snapping-up-safes-1456136223 http://www.wsj.com/articles/japanese-seeking-a-place-to-stas...
- mindslight 11y ago
  > Clearly what they did before didn't work, and now they are trying something else Erm no, they're trying the exact same thing even harder. The top of the economy is awash in capital with nowhere to go, while the bottom has to run ever faster on the debt treadmill. Creating even more debt that funnels wealth upwards is obviously the solution <g>.
- rogersmith 11y ago
  "It doesn't take a genius to figure out people will just keep cash at home if you impose negative interest rates..." Hence why the alleged benefits of a cashless economy are being pushed across the board at the moment. Cue the "if you insist on holding cash, you must be a terrorist" rhetorics.

meric 11y ago

Whether the critics are aware of how central banking works, central banks are losing credibility. They've tried everything in Japan & Europe, getting governments trillions into debt, and now they want to go negative interest rates. Clearly what they did before didn't work, and now they are trying something else. They're shooting in the dark and unknowingly killing the economy. It doesn't take a genius to figure out people will just keep cash at home if you impose negative interest rates, and by keeping cash away from banks, reduce the reserves banks hold, and the money they can lend, reducing the money supply, exacerbating the deflation the NIRP was supposed to fight in the first place.[1] There's no fraud and no lie, except for the fact central bankers operate on economic models detached from reality. The only lie is claiming to know more than they do. The policies the Japanese central bank tried to impose to lower the value of the Yen in the past few months, only raised it. https://au.finance.yahoo.com/q/bc?s=USDJPY=X&t=3m&l=on&z=l&q=l&c= https://au.finance.yahoo.com/q/bc?s=USDJPY=X&t=3m&l=on&z=l&q... "Central bank impotency" heading your way. [1] http://www.wsj.com/articles/japanese-seeking-a-place-to-stash-cash-start-snapping-up-safes-1456136223 http://www.wsj.com/articles/japanese-seeking-a-place-to-stas...

mindslight 11y ago
> Clearly what they did before didn't work, and now they are trying something else Erm no, they're trying the exact same thing even harder. The top of the economy is awash in capital with nowhere to go, while the bottom has to run ever faster on the debt treadmill. Creating even more debt that funnels wealth upwards is obviously the solution <g>.
rogersmith 11y ago
"It doesn't take a genius to figure out people will just keep cash at home if you impose negative interest rates..." Hence why the alleged benefits of a cashless economy are being pushed across the board at the moment. Cue the "if you insist on holding cash, you must be a terrorist" rhetorics.