Collapse The Banks!

[james24]

1. Take your money out of them

2. Buy silver (not gold this only supports them) or anything else you can make money off that doesnt involve them.

3. Cash in bonds etc and dont buy any new ones.

4. Please add more ideas.

They are criminals and now is the time to stop them!

Regardless of my own personal experience today, thinking about it do we really need them..? The way finance is going it all seem to be going electronic so we can just deal with each other rather than through them. Really think about we dont need them, there is a way.

[trogers]

I wonder where you store all those silver...

[james24]

I wonder where you store all those silver...

k

?

Tangiable silver, coins etc, Stored personally. Look into it, they really arent as needed as you think.

[H2oDunc]

Fractional reserve banking, the system the banks use would be illegal in any other business. The only reason Bernie Madoff is in prison for a hundred or so years is he didn't call himself a bank. Banks make money out of nothing. Just look at the Federal reserve in the USA. The print money then charge the US interest on every dollar they print. Why doesn't the country print its own money and save the enormous amount they pay the Fed ?

Curious that every President that has proposed to do this has, by coincidence ended up being assassinated.

I watched a clip on Youtube showing one of the Feds chief officers being asked where all the bail out money has gone to and she could not answer. The US tax payer has given the Fed over 2 Trillion dollars and they cannot or will not tell the Government what they have done with it. It beggars belief!

[jdinasia]

Kinda a senseless OP.

Collapsing the banks would collapse the economies .... not to mention leave people exposed to unacceptable risk financially (banking systems are insured).

I choose to use Credit Unions (both in Thailand and abroad) but I obviously have bank accounts too.

[BillR]

did the banks foreclose on your house? Did you default on all your credit cards? Are creditors calling you daily?

If you answered yes to any of the above you Should move to Thailand.

[BillR]

^and only rent an apartment on the FIRST FLOOR^

[james24]

Fractional reserve banking, the system the banks use would be illegal in any other business. The only reason Bernie Madoff is in prison for a hundred or so years is he didn't call himself a bank. Banks make money out of nothing. Just look at the Federal reserve in the USA. The print money then charge the US interest on every dollar they print. Why doesn't the country print its own money and save the enormous amount they pay the Fed ?

Curious that every President that has proposed to do this has, by coincidence ended up being assassinated.

I watched a clip on Youtube showing one of the Feds chief officers being asked where all the bail out money has gone to and she could not answer. The US tax payer has given the Fed over 2 Trillion dollars and they cannot or will not tell the Government what they have done with it. It beggars belief!

Yeh I saw that too, the guy questioning her was right on the mark, things like this need to be done more often.

"We are in the process of an investigation..."

"What have you investigated?"

"Umm nothing yet"

Kinda a senseless OP.

Collapsing the banks would collapse the economies .... not to mention leave people exposed to unacceptable risk financially (banking systems are insured).

I choose to use Credit Unions (both in Thailand and abroad) but I obviously have bank accounts too.

Not true, it can be done.

did the banks foreclose on your house? Did you default on all your credit cards? Are creditors calling you daily?

If you answered yes to any of the above you Should move to Thailand.

Lol good idea

[jdinasia]

Kinda a senseless OP.

Collapsing the banks would collapse the economies .... not to mention leave people exposed to unacceptable risk financially (banking systems are insured).

I choose to use Credit Unions (both in Thailand and abroad) but I obviously have bank accounts too.

Not true, it can be done.

Lol good idea

Ummm no. It can't.

[james24]

Kinda a senseless OP.

Collapsing the banks would collapse the economies .... not to mention leave people exposed to unacceptable risk financially (banking systems are insured).

I choose to use Credit Unions (both in Thailand and abroad) but I obviously have bank accounts too.

Not true, it can be done.

Lol good idea

Ummm no. It can't.

Lol yes it can. Regarding economics collapsing look at the economies around the world, they already have, and whos fault was that.... the banks!

Edited November 19, 2010 by james24

[jdinasia]

Let's see .....

1) financial security. You must have some system to preserve the wealth of individuals. Change the name and it is still a bank. The banking system is insured. A bankless system where people "buy silver not gold.." is not fluid enough and would offer no security. It has been a LONG time since the gold standard (precious metal backed currency) has been used effectively on a large scale.

2) Currency itself ... how would a bankless system deal with it? LOL

but basically besides being a non-starter --- this has nothing to do with Thailand.

[james24]

Let's see .....

1) financial security. You must have some system to preserve the wealth of individuals. Change the name and it is still a bank. The banking system is insured. A bankless system where people "buy silver not gold.." is not fluid enough and would offer no security. It has been a LONG time since the gold standard (precious metal backed currency) has been used effectively on a large scale.

2) Currency itself ... how would a bankless system deal with it? LOL

but basically besides being a non-starter --- this has nothing to do with Thailand.

When I say buy silver that doesnt mean extinguish "paper" money. Preserve the wealth of individuals...? Have they been doing that..? Um no not really... Is that why they are in business...? Of course not. And insured..? Can you show me how that made the slightest difference over the last 3 years...?

LOL nothing to do with Thailand...? It has everything to do with Thailand aswell as every other country in the world

All banks do is move money around a bit and make a killing off of that.and that is it. They dont protect or hold up anything, its all b.s and soon itll be shown as that, I have no doubt about it.

[bunta71]

^and only rent an apartment on the FIRST FLOOR^

Bill...remembering the constant confusion here about the First Floor / Second Floor / Ground Floor seems better for him to jump from the basement.

[james24]

^and only rent an apartment on the FIRST FLOOR^

Bill...remembering the constant confusion here about the First Floor / Second Floor / Ground Floor seems better for him to jump from the basement.

Edited November 19, 2010 by james24

[Heng]

Love the banks!

[gregb]

While the OP is totally unrealistic in his quest (idealism such as he shows gets boring after a while) there is still value in the sentiment. It is quite possible to eliminate fractional reserve banking and still have a functioning society. As JD says, banks are here to stay. They serve a purpose. Even in the old days banks arose because people found it more convenient to store their gold with a known custodian than guard it themselves from thieves.

However, the current system is truly an abomination. There is no need for economic growth, for loaning money at interest, or any of the other thousands of abominations against society that modern banking has become famous for. Deflation is actually good and normal when a society doesn't rely on debt for their very survival. The problem is, those with extreme wealth have much to lose if the system is changed, and they hold the strings of power. We are all complicit in the scam, because we all go along with it.

What the OP is suggesting is to stop believing in the narrative. Unfortunately, the myth is exactly what gives us credit and this entire industrial infrastructure. Collapse it to something that is fair to the masses, and we'll have to immediately accept being destitute. Leave the myth in place a little longer, and we can continue to maintain the illusion that we are wealthy for a while longer.

Eventually though, the charade will collapse, and we'll be forced to accept the truth of the matter. It is at that point, when 90% of the people alive have nothing, that a peasant revolt against fractional reserve banks will be possible. But it will also be at gunpoint and extremely bloody.

Fact is, there is no nice way to unseat the entrenched system. Anybody who thinks that banks will collapse because they buy silver doesn't understand how the world works very well. You may be able to preserve your individual wealth this way, but it just isn't possible on a mass scale. You'd set off an oscillation in price that would simply give those in power even more power. People who hold the reigns of power would simply share a small part of their power in strategic places, and the movement would collapse. Meanwhile, the wealthy would have shorted silver and only increased their paper fortune, leaving the poor even more destitute.

No, best you simply do what everyone else with vision is doing. Quietly accumulate assets that will survive the economic crisis, including gold, silver and other tangible commodities. It won't make you wealthy, but it will make sure you don't lose your shirt when the existing economic narrative is exposed for the lie it truly is.

Live in Thailand where gold is cheap and easily purchased, and the economy is not so tainted by debt, nor the entitlement mentality so deeply entrenched. Accumulate PMs quietly. Look out for yourself, keep your head down and wait. With luck, we will die before the horors of the inveitable coming collapse actually come to fruition. If I go to my grave still waiting I will be a happy man.

[geriatrickid]

Lol yes it can. Regarding economics collapsing look at the economies around the world, they already have, and whos fault was that.... the banks!

The Canadian, Swedish and Austrlaina economies are ok. They also have the most stable banking systems at this time.

Your suggestions range from dangerous to indicative of someone with a reliance of spooky conspiracy theory pushers. Look at what you wrote;

1. Take your money out of them

Ok, so you don't have money on deposit anymore. How do you propose people obtain credit or credit cards? What happens if I wihdraw 300,000 baht and keep it at my place and I get robbed or there's a fire and the money is burnt up?

2. Buy silver (not gold this only supports them) or anything else you can make money off that doesnt involve them.

Why silver? Have you ever heard of the Hunt Brothers?Google them to learn about market manipulation. Gold? Diamonds? These too are commodities that are manipulated. Why is gold so precious? Look at all the gold that's out there. Then think again. Diamonds? It's a fictitious market and there's a reason why DeBoers does what it does with the world's supplies. Do you really want to lug around gold bricks? How will you make change?

3. Cash in bonds etc and dont buy any new ones.

Why are you scared of bonds? This is how companies raise money, unless you mean national savings bonds. The good thing about those national bonds is that they are backed up by the national treasury. If the treasury can't pay, then the least of one's worries will be the bond as anarchy and civil war would probably be in full swing.

4. Please add more ideas.

How about you come clean and explain why you are so angry.

They are criminals and now is the time to stop them!

Why are they criminals? What laws did they break? OK sure the teller at the SCB is a total twit the way she takes so long to make a deposit, but hey she's paid crap.

Regardless of my own personal experience today, thinking about it do we really need them..? The way finance is going it all seem to be going electronic so we can just deal with each other rather than through them. Really think about we dont need them, there is a way.

What happens if the power goes off. If the economy collapses, it is highly likely that the power grid suffers. If you expect people to transact electronically, then you will still rrequire central clearing houses. D-uh.

I suggets you put on your aluminum foil hat and get thee to a trail park pronto.

[sarahsbloke]

Fight Club had the answer .... blow them all up at the same time and start again from scratch.

But let me get my savings out first!

[james24]

Lol yes it can. Regarding economics collapsing look at the economies around the world, they already have, and whos fault was that.... the banks!

The Canadian, Swedish and Austrlaina economies are ok. They also have the most stable banking systems at this time.

Your suggestions range from dangerous to indicative of someone with a reliance of spooky conspiracy theory pushers. Look at what you wrote;

1. Take your money out of them

Ok, so you don't have money on deposit anymore. How do you propose people obtain credit or credit cards? What happens if I wihdraw 300,000 baht and keep it at my place and I get robbed or there's a fire and the money is burnt up?

2. Buy silver (not gold this only supports them) or anything else you can make money off that doesnt involve them.

Why silver? Have you ever heard of the Hunt Brothers?Google them to learn about market manipulation. Gold? Diamonds? These too are commodities that are manipulated. Why is gold so precious? Look at all the gold that's out there. Then think again. Diamonds? It's a fictitious market and there's a reason why DeBoers does what it does with the world's supplies. Do you really want to lug around gold bricks? How will you make change?

3. Cash in bonds etc and dont buy any new ones.

Why are you scared of bonds? This is how companies raise money, unless you mean national savings bonds. The good thing about those national bonds is that they are backed up by the national treasury. If the treasury can't pay, then the least of one's worries will be the bond as anarchy and civil war would probably be in full swing.

4. Please add more ideas.

How about you come clean and explain why you are so angry

They are criminals and now is the time to stop them!

Why are they criminals? What laws did they break? OK sure the teller at the SCB is a total twit the way she takes so long to make a deposit, but hey she's paid crap.

Huh...? Are you serious...? Im not even gonna try to start with what laws they break, ther are too many broken everyday. Have you ever heard of Goldman Sachs or even worse JP Morgan...?

Regardless of my own personal experience today, thinking about it do we really need them..? The way finance is going it all seem to be going electronic so we can just deal with each other rather than through them. Really think about we dont need them, there is a way.

What happens if the power goes off. If the economy collapses, it is highly likely that the power grid suffers. If you expect people to transact electronically, then you will still rrequire central clearing houses. D-uh.

Duh...? How old are you...? Grow up. And your power grid input is just poo.

I suggets you put on your aluminum foil hat and get thee to a trail park pronto.

Lol. Credit, mortgages etc are setup to sell the idea that we certain things to be a part of society. I come from London and I see my friends buying houses with a mortgage that they will not be able to pay of till half their life is over. Its a way for banks to lock you in, I dont want that thankyou. Everything I have I paid cash for and will continue to do this

No I dont want to lug bricks around but considering the fed have just said they will not monetize the debt then, there is a big chance of that happening.

Bonds are another way for banks to hold your money. It just supports the banks thats why I say cash them in.

More than happy to. I feel that the money I earn is not really in my control. If the banks want to change something they will and more and more they are pushing the boundaries of what they can get away with, just look at what they are doing now.

Well you'll see what happens soon. You must be missing the airport scanners or perhaps the electronic chip (very visible) in your passport which is tracked to a satellite to give your exact location. Perhaps I am a bit spooked out but perhaps Im not too.

Edited November 19, 2010 by james24

[midas]

Lol yes it can. Regarding economics collapsing look at the economies around the world, they already have, and whos fault was that.... the banks!

The Canadian, Swedish and Austrlaina economies are ok. They also have the most stable banking systems at this time.

Your suggestions range from dangerous to indicative of someone with a reliance of spooky conspiracy theory pushers. Look at what you wrote;

1. Take your money out of them

Ok, so you don't have money on deposit anymore. How do you propose people obtain credit or credit cards? What happens if I wihdraw 300,000 baht and keep it at my place and I get robbed or there's a fire and the money is burnt up?

2. Buy silver (not gold this only supports them) or anything else you can make money off that doesnt involve them.

Why silver? Have you ever heard of the Hunt Brothers?Google them to learn about market manipulation. Gold? Diamonds? These too are commodities that are manipulated. Why is gold so precious? Look at all the gold that's out there. Then think again. Diamonds? It's a fictitious market and there's a reason why DeBoers does what it does with the world's supplies. Do you really want to lug around gold bricks? How will you make change?

3. Cash in bonds etc and dont buy any new ones.

Why are you scared of bonds? This is how companies raise money, unless you mean national savings bonds. The good thing about those national bonds is that they are backed up by the national treasury. If the treasury can't pay, then the least of one's worries will be the bond as anarchy and civil war would probably be in full swing.

4. Please add more ideas.

How about you come clean and explain why you are so angry

They are criminals and now is the time to stop them!

Why are they criminals? What laws did they break? OK sure the teller at the SCB is a total twit the way she takes so long to make a deposit, but hey she's paid crap.

Huh...? Are you serious...? Im not even gonna try to start with what laws they break, ther are too many broken everyday. Have you ever heard of Goldman Sachs or even worse JP Morgan...?

Regardless of my own personal experience today, thinking about it do we really need them..? The way finance is going it all seem to be going electronic so we can just deal with each other rather than through them. Really think about we dont need them, there is a way.

What happens if the power goes off. If the economy collapses, it is highly likely that the power grid suffers. If you expect people to transact electronically, then you will still rrequire central clearing houses. D-uh.

Duh...? How old are you...? Grow up. And your power grid input is just poo.

I suggets you put on your aluminum foil hat and get thee to a trail park pronto.

Lol. Credit, mortgages etc are setup to sell the idea that we certain things to be a part of society. I come from London and I see my friends buying houses with a mortgage that they will not be able to pay of till half their life is over. Its a way for banks to lock you in, I dont want that thankyou. Everything I have I paid cash for and will continue to do this

No I dont want to lug bricks around but considering the fed have just said they will not monetize the debt then, there is a big chance of that happening.

Bonds are another way for banks to hold your money. It just supports the banks thats why I say cash them in.

More than happy to. I feel that the money I earn is not really in my control. If the banks want to change something they will and more and more they are pushing the boundaries of what they can get away with, just look at what they are doing now.

Well you'll see what happens soon. You must be missing the airport scanners or perhaps the electronic chip (very visible) in your passport which is tracked to a satellite to give your exact location. Perhaps I am a bit spooked out but perhaps Im not too.

This will play right into the hands of people like George Soros who believes he is " God Like "

"If truth be known, I carried some rather potent messianic fantasies with me from childhood, which I felt I had to control, otherwise they might get me into trouble," [soros] once wrote. When asked to elaborate on that passage by The Independent, Soros said, "It is a sort of disease when you consider yourself some kind of God, the creator of everything, but I feel comfortable about it now since I began to live it out."

Soros November 25, 2005

its one thing for Lloyd Blankfein to say He Is Doing "God's Work" - but its another dimension entirely

when you think you are doing by determining which economy should fail and which should grow

[Kwasaki]

Q1. Take your money out of them.

Ans. No!! my monies OK in Nationwide, First Direct, Bangkok Bank and Kasikorn.

Q2. Buy silver (not gold this only supports them) or anything else you can make money off that doesn't involve them.

Ans. No!! nothing wrong with gold I use it for my extension money, as I have bought over the years in Thailand.

Q3. Cash in bonds etc and don't buy any new ones.

Ans. No, my last Bond was a three year one and it pays me nearly 7% each month tax free, wish l could of got a five year one at the time, seeing as Bonds don't return much now in the present world situation.

Q4. Please add more ideas.

Ans. Yeah OK !! Watch Max Keiser report and email him with your questions.

Notation. They are criminals and now is the time to stop them!

Ans. A very strange remark, refer to JD's post.

Notation. Regardless of my own personal experience today.

Ans. Oh well !! " som naam na " with your situation.

Notation. thinking about it do we really need them..?

Q5. l thought about it for a Milli-second, Yes we do.

Notation. The way finance is going it all seem to be going electronic so we can just deal with each other rather than through them.

Ans. About the only sensible remark you've made, it could be done with gold, silver, commodities credits buying with credit cash.

Notation. Really think about we don't need them, there is a way.

Ans. Oh dear !! You've just been distracted again from the last notation.

[fletchsmile]

LOL - I suggest you find yourself a cave up in Nakorn Nowhere and move into substistence farming. Bear in mind though: - no electricity allowed, no vehicles, no petrol, dig your own well for water, don't get sick as the hospitals have no electricity either and no money for medicine, research and development or equipment. Most of these rely on banks at some point in the credit system for either collections or financing, and if they don't their suppliers or customers usually do.

Roll on the Dark Ages....

[james24]

Lol yes it can. Regarding economics collapsing look at the economies around the world, they already have, and whos fault was that.... the banks!

The Canadian, Swedish and Austrlaina economies are ok. They also have the most stable banking systems at this time.

Your suggestions range from dangerous to indicative of someone with a reliance of spooky conspiracy theory pushers. Look at what you wrote;

1. Take your money out of them

Ok, so you don't have money on deposit anymore. How do you propose people obtain credit or credit cards? What happens if I wihdraw 300,000 baht and keep it at my place and I get robbed or there's a fire and the money is burnt up?

2. Buy silver (not gold this only supports them) or anything else you can make money off that doesnt involve them.

Why silver? Have you ever heard of the Hunt Brothers?Google them to learn about market manipulation. Gold? Diamonds? These too are commodities that are manipulated. Why is gold so precious? Look at all the gold that's out there. Then think again. Diamonds? It's a fictitious market and there's a reason why DeBoers does what it does with the world's supplies. Do you really want to lug around gold bricks? How will you make change?

3. Cash in bonds etc and dont buy any new ones.

Why are you scared of bonds? This is how companies raise money, unless you mean national savings bonds. The good thing about those national bonds is that they are backed up by the national treasury. If the treasury can't pay, then the least of one's worries will be the bond as anarchy and civil war would probably be in full swing.

4. Please add more ideas.

How about you come clean and explain why you are so angry

They are criminals and now is the time to stop them!

Why are they criminals? What laws did they break? OK sure the teller at the SCB is a total twit the way she takes so long to make a deposit, but hey she's paid crap.

Huh...? Are you serious...? Im not even gonna try to start with what laws they break, ther are too many broken everyday. Have you ever heard of Goldman Sachs or even worse JP Morgan...?

Regardless of my own personal experience today, thinking about it do we really need them..? The way finance is going it all seem to be going electronic so we can just deal with each other rather than through them. Really think about we dont need them, there is a way.

What happens if the power goes off. If the economy collapses, it is highly likely that the power grid suffers. If you expect people to transact electronically, then you will still rrequire central clearing houses. D-uh.

Duh...? How old are you...? Grow up. And your power grid input is just poo.

I suggets you put on your aluminum foil hat and get thee to a trail park pronto.

Lol. Credit, mortgages etc are setup to sell the idea that we certain things to be a part of society. I come from London and I see my friends buying houses with a mortgage that they will not be able to pay of till half their life is over. Its a way for banks to lock you in, I dont want that thankyou. Everything I have I paid cash for and will continue to do this

No I dont want to lug bricks around but considering the fed have just said they will not monetize the debt then, there is a big chance of that happening.

Bonds are another way for banks to hold your money. It just supports the banks thats why I say cash them in.

More than happy to. I feel that the money I earn is not really in my control. If the banks want to change something they will and more and more they are pushing the boundaries of what they can get away with, just look at what they are doing now.

Well you'll see what happens soon. You must be missing the airport scanners or perhaps the electronic chip (very visible) in your passport which is tracked to a satellite to give your exact location. Perhaps I am a bit spooked out but perhaps Im not too.

This will play right into the hands of people like George Soros who believes he is " God Like "

"If truth be known, I carried some rather potent messianic fantasies with me from childhood, which I felt I had to control, otherwise they might get me into trouble," [soros] once wrote. When asked to elaborate on that passage by The Independent, Soros said, "It is a sort of disease when you consider yourself some kind of God, the creator of everything, but I feel comfortable about it now since I began to live it out."

Soros November 25, 2005

its one thing for Lloyd Blankfein to say He Is Doing "God's Work" - but its another dimension entirely

when you think you are doing by determining which economy should fail and which should grow

Mmm the independant is owned by Rupert Murdoch right...?

[Chunky1]

Going to be funny if Thailand ends up having their own little banking crisis once the dust clears and we find just how loose their lending standards have been during our current inflationary bubble. Here is a clue, when you lend a hundred dollars for every dollar that is deposited, that's not "safe" economics. of course, most of the people replying in this thread likely haven't a clue how fractional reserve banking works. all they know is "the government keep me safe" and "the people run the government want what's best for me".

Edited November 19, 2010 by Chunky1

[Chunky1]

LOL - I suggest you find yourself a cave up in Nakorn Nowhere and move into substistence farming. Bear in mind though: - no electricity allowed, no vehicles, no petrol, dig your own well for water, don't get sick as the hospitals have no electricity either and no money for medicine, research and development or equipment. Most of these rely on banks at some point in the credit system for either collections or financing, and if they don't their suppliers or customers usually do.

Roll on the Dark Ages....

you do realize that when the us gov was on a gold standard that it was the most economically successful periods in our history, right? you also realize that Jefferson, who most consider the wisest of our founders, spent more or less his entire post revolution effort at attempting to prevent private banks from controlling our money supply, right? and that throughout American and European history the gov and banks have fought over who issues the money? or did you not know any of this?

are you that ignorant that you believe that there would be no banking system or lending without fractional reserve cronyism where losses are nationalized and profits privatized?

[fletchsmile]

Going to be funny if Thailand ends up having their own little banking crisis once the dust clears and we find just how loose their lending standards have been during our current inflationary bubble. Here is a clue, when you lend a hundred dollars for every dollar that is deposited, that's not "safe" economics. of course, most of the people replying in this thread likely haven't a clue how fractional reserve banking works. all they know is "the government keep me safe" and "the people run the government want what's best for me".

LOL, Any particular Thai bank you have in mind. Doesn't sound like any of the Thai banks I know: AD Ratio of 100/1 or maximum CAR of 1% even assuming average RWA of 100% for each loan, and that capital is as large as the deposit base which is stretching even my imagination ????? Or are you including yourself in the most people have no clue how it works category?

[james24]

Going to be funny if Thailand ends up having their own little banking crisis once the dust clears and we find just how loose their lending standards have been during our current inflationary bubble. Here is a clue, when you lend a hundred dollars for every dollar that is deposited, that's not "safe" economics. of course, most of the people replying in this thread likely haven't a clue how fractional reserve banking works. all they know is "the government keep me safe" and "the people run the government want what's best for me".

I agree 100%

Thailand has been in trouble along time ago. Theres only so much something can take before it breaks.

Its just because governents banks etc paint themselves in a certain way and because of who they are people, including myself up till about a year or two ago trusted them. But in actual fact they really really do lie.

The thing is, do the smallest amount of looking and you see how blatent they are about it. Check your statements to the baht or penny or whatever currency you're in and I guarantee there will be more than one transaction that is different in amount to the money you thought it was. Perhaps only a small bit but if they do that to 10m people a month, how much profit is that.....

[Chunky1]

Going to be funny if Thailand ends up having their own little banking crisis once the dust clears and we find just how loose their lending standards have been during our current inflationary bubble. Here is a clue, when you lend a hundred dollars for every dollar that is deposited, that's not "safe" economics. of course, most of the people replying in this thread likely haven't a clue how fractional reserve banking works. all they know is "the government keep me safe" and "the people run the government want what's best for me".

LOL, Any particular Thai bank you have in mind. Doesn't sound like any of the Thai banks I know: AD Ratio of 100/1 or maximum CAR of 1% even assuming average RWA of 100% for each loan, and that capital is as large as the deposit base which is stretching even my imagination ????? Or are you including yourself in the most people have no clue how it works category?

I haven't done any research at all into what Thai banks are or are not doing and guess what, if we have learned anything from this crisis is that banks and the people who run them are lying corrupt fraudsters. Guess what, all of these huge, too big to fail $200,000,000,000 market capitalization banks were telling everyone that it was all unicorns and rainbows right until the rug got pulled out from under. what we do know is that there has been a very long period of low interest, high lending from Thai banks and that Thai real estate has appreciated substantially in price. we also know that the BoT every now and then felt the need to come out and say "No really there is no housing bubble here folks, nothing to worry about". Until interest rates go up substantially we will not know the real picture.

Gonna be hilarious to hear about all the suckers buying into these rallies. The US market isn't and won't gain anything in real terms, only nominal dollars. But I know, this inflationary bubble is DIFFERENT this time. Even though the US is losing jobs in production Obama is touting "We are almost at 12,000. Look how great of a job I have done!" ((fingers crossed 2012 comes before the next crash))

Edited November 19, 2010 by Chunky1

[fletchsmile]

LOL - I suggest you find yourself a cave up in Nakorn Nowhere and move into substistence farming. Bear in mind though: - no electricity allowed, no vehicles, no petrol, dig your own well for water, don't get sick as the hospitals have no electricity either and no money for medicine, research and development or equipment. Most of these rely on banks at some point in the credit system for either collections or financing, and if they don't their suppliers or customers usually do.

Roll on the Dark Ages....

you do realize that when the us gov was on a gold standard that it was the most economically successful periods in our history, right? you also realize that Jefferson, who most consider the wisest of our founders, spent more or less his entire post revolution effort at attempting to prevent private banks from controlling our money supply, right? and that throughout American and European history the gov and banks have fought over who issues the money? or did you not know any of this?

are you that ignorant that you believe that there would be no banking system or lending without fractional reserve cronyism where losses are nationalized and profits privatized?

555 I remember the gold standard well. I also remember that they had banks during that period as well.

OP suggested collapsing the banking system. I'd be interested in your concept of a gold standard without any banks, which is what OP suggested. Or are you two working together to develop some sort of silver standard without any banks... who's printing the money in this world of yours or is it all done on bartering... careful the buffalo doesn't get sick.. tell us more please...

Sound like something off Hancock's half hour, where he deposited a pint of blood at a blood bank, and wanted to make sure he got his own pint of blood back. Excellent comedy...

[flying]