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That's a confusing response. Are you advocating for government bailouts for chaebols and US banks?
by rectang 8y ago
That's a confusing response. Are you advocating for government bailouts for chaebols and US banks?
- petermcneeley 8y agoOf course not! But im saying even without bailouts the banking system already is a collusion with government. Private banks take loans of money from the central bank at very low rates then add 2+% on top and provide those loans to consumers.
- fh973 8y agoNot exactly, the reality will sound even more annoying to you: banks don't need even need to get a central bank loan for most dollars they loan to customers. Only a fraction needs to be covered by central bank money.