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Quantitative Easing In Russia

Mike

Well-known member
QE has caused the Ruble to collapse in Russia and the EXACT same thing has been going on for some time here, just not as much and not as fast.

Look for interest to go up here.
 

Faster horses

Well-known member
Mike said:
QE has caused the Ruble to collapse in Russia and the EXACT same thing has been going on for some time here, just not as much and not as fast.

Look for interest to go up here.

Our banker friend says interest will go up as well. Said he read where it will be good for the economy. He fails to understand that and he's one sharp cookie.
 

Mike

Well-known member
I wouldn't mind seeing interest go up some. As it is now, none of the banks are paying anything on a savings account. Some as little as .01%.
 

redrobin

Well-known member
This country isn't solvent at historically normal interest rates. Even (or especially) the govt. can't service it's debts.
 

Brad S

Well-known member
Red robin hit the bullseye, add a point to the us interest rate and we'll soon learn why grampa and grama were so debt adverse. Paying back isn't the problem, but rolling a big stone uphill gives an example of paying interest.
 

Faster horses

Well-known member
Brad S said:
Red robin hit the bullseye, add a point to the us interest rate and we'll soon learn why grampa and grama were so debt adverse. Paying back isn't the problem, but rolling a big stone uphill gives an example of paying interest.

The1980's certainly separated the men from the boys. Remember that 20% interest? :shock:
 

Mike

Well-known member
Banks should be paying more interest on savings accounts to individuals.

No one has the incentive to save anymore with the low rates they are paying. If I buy a T-Bill from the Treasury, they pay me a piddling 2%. Heck, Treasury notes can be as low as .05%.

But when a bank finances a loan for me they want 5-10%, but Fed Funds cost nearly nothing to the bank. It's a screwed up system and we're the ones getting screwed...........

To big of a spread between bank interest charged and bank interest paid. Has little to do with the government debt. Banks get by with charging some people 20-25% on credit cards. I want in on the action too.
 

loomixguy

Well-known member
Mike said:
Banks should be paying more interest on savings accounts to individuals.

No one has the incentive to save anymore with the low rates they are paying. If I buy a T-Bill from the Treasury, they pay me a piddling 2%. Heck, Treasury notes can be as low as .05%.

But when a bank finances a loan for me they want 5-10%, but Fed Funds cost nearly nothing to the bank. It's a screwed up system and we're the ones getting screwed...........

To big of a spread between bank interest charged and bank interest paid. Has little to do with the government debt. Banks get by with charging some people 20-25% on credit cards. I want in on the action too.

Then follow Tony Soprano's advice and "Get your shy workin' right". I always was told that the Mob started Bank of America.
 

hypocritexposer

Well-known member
Relax...what I suggested and LittleJoe said was not possible is happening.

OPEC and Russia weren't't producing any more...it was the US that was producing more...allow it to break the others financially.
 

Steve

Well-known member
Mike said:
I wouldn't mind seeing interest go up some. As it is now, none of the banks are paying anything on a savings account. Some as little as .01%.

and while you save you actually lose value through inflation..

we all need savings.,..

as for debt.. if the value of the asset appreciates.. (land ect) you will end up paying for it with a devalued dollar..
 

Brad S

Well-known member
Mike, you're right about lending problems, but if you look a little deeper, you'll find dodfrank. The small banks are scared to death - nobody knows how to follow the law, but they know there is heavy sanctions if some bureaucrat decides you voted for the wrong guy. Most bankers are intimidated to openly discuss the situation. How's that for freedom.

It was the huge banks that were involved in credit default swaps (at the direction of the govt), but the Main Street banks are paying for it.

Ok, here is my tinfoil hat analysis. What do all socialists crave? Where do all socialists begin the revolution? Socialists target banks. Look what they did to student loans - federalized them. Fanny and Freddy were the worst banking actors - they get secret bailouts. So government mandates resulted in a housing bubble that hit some banks hard - the response, cripple small banks.
 
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