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| User Info | Making Sure "It" Never Happens Again in forum [Ticker] | |||
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Genesis Posts: 71435 Incept: 2007-06-26 
KD^2 
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http://market-ticker.org/archives/1045-M....
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-05-18 08:20:07
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Venkman Posts: 2608 Incept: 2008-03-08 
Central Florida
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LOVE the format. That's just totally designed to go viral. :) ---------- Skittle crapping Unicorns - Taste the Rainbow!
2009-05-18 08:25:48
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Chessmaster Posts: 274 Incept: 2009-01-25
Near the Bay
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Get that out there. True banking for the public should not be a casino. Send it to everyone. Thanks GLTA ---------- You never go broke taking a profit UNLESS you spend like an *******!
2009-05-18 08:29:34
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Karlmarxghost Posts: 2641 Incept: 2009-01-26
Stealing Your Property
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So how many politicians do I need to send this to? Also damn you for shutting down comments all day Friday :D ---------- My views are my view and mine alone. Karl or ticker forum does not endorse or necessarily agree with my views. DO not trade on my views or take them personally.
2009-05-18 08:31:08
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Genesis Posts: 71435 Incept: 2007-06-26
KD^2
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TJ: All of them.
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-05-18 08:33:21
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Laura Posts: 3153 Incept: 2008-05-05
Florida Space Coast
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TJ, pay up and the pink screen disappears at will. It works out to slightly more than $10/month, which I am sure doesn't cover Genesis' costs to support the site.
---------- Karl's just a shill for Big Math. 1LumpSum Honey, where's the AK ? Tyler Durden My Ford focus can get me from point A to point B just as good Tigger's Cadillac. And my back door window is not broken. Mliu
2009-05-18 08:35:01
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Jstanley01 Posts: 2574 Incept: 2008-07-30
San Antonio, Texas
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Prudence is being enforced with borrowers again, now it's the lenders' turn.
---------- ...so in short, my fellow Texans, we must secede. "For the children..." --Me
2009-05-18 08:36:14
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Tsberts Posts: 1809 Incept: 2008-02-05 
Minnesota
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Karl - Thought you'd like to know that here at the corporate office, we have a very strict web content filter - WebSense, with a restrictive ruleset. All of tickerforum.org and all of market-ticker.org passes muster as "market-related" and therefore germane to business. The link today was to a pdf on denninger.net, which is firewalled as a "personal or social networking site." I can't read it, so I don't know if there was a conscious decision on your part to post it to denninger.net instead of market-ticker.org. I also don't know how many of the 20,000+ employees of my organization read your ticker, but you lost us today moving it to your self-titled domain. ---------- Photoguy was an optimist. In Soviet Russia, the banks are run by the politicians.
2009-05-18 08:49:32
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Lordhumongous Posts: 1973 Incept: 2008-09-29
USA
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Quote:TJ, pay up and the pink screen disappears at will. It works out to slightly more than $10/month, which I am sure doesn't cover Genesis' costs to support the site. That doesn't help Gold Star members who don't like logging in from their work account. ---------- Freedom. Is there anything it can't do?
2009-05-18 08:50:43
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Jstanley01 Posts: 2574 Incept: 2008-07-30
San Antonio, Texas
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Quote:The above transaction stream is completely safe. If Joe comes into the bank it does not have $10,000, but it does have a title worth $9,000 or more, and it thus can sell the promissory note into the market immediately or take a loan out itself against that value, generating the “missing” $9,000 immediately and paying Joe.Looking at the balance sheet this refers to, the bank has actually does have $10,000 in cash: $1000 of Joe's and $9000 of the dealer's. If both Joe and the dealer demand their money, that's when they'd have to sell the promissory note. ---------- ...so in short, my fellow Texans, we must secede. "For the children..." --Me Last modified:
2009-05-18 09:00:45 by jstanley01
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Nightowl Posts: 2279 Incept: 2007-06-26
On a 45 for 18
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Great stuff Karl thanks.
2009-05-18 09:09:52
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Genesis Posts: 71435 Incept: 2007-06-26
KD^2
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Ts, there is no particular file storage location on the Ticker machines. I will look into fixing that; my "storage" location off-site (at http://storage.denninger.net) is going to run into the same problem - that's where I upload the podcasts from Blogtalk. ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-05-18 09:11:37
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Aac123 Posts: 1518 Incept: 2007-09-23
Online
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Brilliant Karl
---------- Any one of us who doesn't have a healthy fear of the unknown isn't paying attention - Bank of America's Ken Lewis
2009-05-18 09:18:18
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Genesis Posts: 71435 Incept: 2007-06-26
KD^2
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I found a way to stuff it in the "images" directory on the market-ticker.org server, even though the software bitched a bit. You should be able to get it now from work Ts. ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-05-18 09:18:52
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Snowman Posts: 1040 Incept: 2009-03-09
avoiding yellow snow
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Karl, Good summary, and very much liked the "back to basics" and clear approach. Smoke and mirrors has been going on for too long. There is a good case for wrapping any company whose primary business is "financial services", including the treasury operations of corporations, into these thoughts. This is particularly important these days with the interconnectiveness of financial flows in the markets. I.e., "banking" is a function that needs to be treated as such.
2009-05-18 09:19:52
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Karlmarxghost Posts: 2641 Incept: 2009-01-26
Stealing Your Property
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I printed and faxed it to all the reps in the local area here in S Florida and to both senators. Not that it will help but hey I can sleep at night knowing I tried.
---------- My views are my view and mine alone. Karl or ticker forum does not endorse or necessarily agree with my views. DO not trade on my views or take them personally.
2009-05-18 09:22:21
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Reza30 Posts: 233 Incept: 2009-02-15
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Karl, Love the white paper and your simple examples in layman's terms. It should be an easy read for anyone who is struggling to understand how this crisis has evolved. I think however that the key to all of your arguments is that we need to learn to live within our means as a nation. We are clearly unable to support our lifestyle as Americans without blowing economic bubbles. The kind of consumer economy that we have in place is unsustainable without the economic mirage that bubbles generate. "Feel good economy" is the key to all of our consumer spending. It takes a lot of education (as you are doing) and a lot of discipline (as I hope will be beaten into us by this crisis) to make your vision a reality. Thanks for all your efforts. Last modified:
2009-05-18 09:29:24 by reza30
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Tesla Posts: 8182 Incept: 2008-04-03
Delaware
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Quote:It only requires prudent regulation that is difficult or impossible to “game”. Quote:we are here today in our economy and banking system due to the You have still not solved the problem of "regulatory capture". When the rewards of lawlessness are greater than the rewards of virtue, then you know what will win out every time. Until and unless there is some non-capturable agency that can enforce regulation, you are merely setting up another cycle to be gamed. I don't see that mechanism in your work, and IMO it's probably the single most important topic around. My proposal ? Allow citizens to bring enforcement action - have standing - such that a citizen or group of citizens could bring civil or criminal action against the culprits. Additional emphasis should be put on the failure part - no injections from taxpayers, for any reason. Dead is dead. That still doesn't answer the problem of a captured judiciary such as we have today, but at least it's a start. ---------- "Neither the wisest Constitution nor the wisest laws will secure the liberty and happiness of a people whose manners are universally corrupt." Samuel Adams I'd rather die on my feet than live on my knees. - Emiliano Zapata
2009-05-18 09:28:33
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Genesis Posts: 71435 Incept: 2007-06-26
KD^2
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You can't blow bubbles without regulatory fraud Reza. The reason Paulson went to the SEC in 2000 and again in 2004 is that the leverage limits were the overhead that they were banging their head again, and there was no way around them other than to play regulatory games. There will ALWAYS be people who desire to cheat and to live beyond their means. The purpose of regulation (and laws) is to prevent those who would cheat from getting away with it. You can't stop 'em from trying - that's human nature. ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-05-18 09:29:38
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Tsberts Posts: 1809 Incept: 2008-02-05
Minnesota
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Thanks for the change, Karl. That worked, reading now.
---------- Photoguy was an optimist. In Soviet Russia, the banks are run by the politicians.
2009-05-18 09:35:12
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Tsberts Posts: 1809 Incept: 2008-02-05
Minnesota
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Typo - paragraph four: s/insures/ensures Excellent piece. Finally, a piece on banking my mother can understand. That means our reps should be able to understand it, too, right? ---------- Photoguy was an optimist. In Soviet Russia, the banks are run by the politicians.
2009-05-18 09:43:56
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Rjsasko Posts: 31 Incept: 2009-03-23
aurora, IL
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Karl, What you've written is terrific but I think it only addresses the rot that is in plain sight but not the roots of the problem and therefore will ultimately fail. Government is way too big. As long as the tentacles of Congress are enmeshed in everything they will be committing self-serving mischief. Look at the Fannie Mae/Freddie Mac mess. Certain Congress critters want more loans for their constituents and they literally forced the banks to lower credit standards to make those horrid loans. And when people raised alarms about the bad loans those people were politically smeared by those profitting from the crimes. Meanwhile the same players hop from elected government to appointed government to private business and back again. There is a reason why the three richest counties in the U.S. are suburbs of Washington, D.C. and it is bloated government and corruption. In the Soviet Union there was a saying: "Moscow is downhill from all the Russias". It meant that all of the wealth rolled towards the center of bureaucratic corruption. We are becoming a Banana Republic if we don't shrink the government. What you've written is a good start but I fear it is like rearranging the deck chairs on the Titanic.
2009-05-18 09:43:58
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Exorcism Posts: 301 Incept: 2007-11-30
Denver Area
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---------- The fact that we live at the bottom of a deep gravity well, on the surface of a gas covered planet going around a nuclear fireball 90 million miles away and think this to be normal is obviously some indication of how skewed our perspective tends to be. -Douglas Adams
2009-05-18 09:48:03
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Tsberts Posts: 1809 Incept: 2008-02-05
Minnesota
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Typo - Page 7, Glass-Steagall bullet point s/Travellers/Travelers (Would you prefer proofreading comments in PM?) ---------- Photoguy was an optimist. In Soviet Russia, the banks are run by the politicians.
2009-05-18 09:48:27
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Genesis Posts: 71435 Incept: 2007-06-26
KD^2
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Fixed it - thanks. ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-05-18 09:52:14
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