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Why Should the Banks Have All the Money?

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  • Why Should the Banks Have All the Money?

    Here is an interesting article by Neil Macdonald about banks and quantitative easing.

    Over the last few years I have wondered why there is no money left in my community and it looks like the answer is because the banks have it all.

    from the article...

    At the end of 2012, the balance sheets of the world's largest central banks, those of the G20 nations and the eurozone, including Sweden and Switzerland, totaled $17.4 trillion US, according to Bank of Canada calculations from publicly available data.
     
    That is nearly a quarter of global GDP, and slightly more than double the $8.5 trillion these same institutions were holding at the end of 2007, before the financial crisis hit.

    Neil Macdonald: The 'monarchs of money' and the war on savers

    It makes me wonder if the "crisis" could have been engineered by people who sit around and figure out how banks can make more profit than they did last year.



    you can't control the wind but you can learn to sail

    contentment is true wealth

  • #2
    It's a rigged bs system.

    Comment


    • Caulk Rocket
      Caulk Rocket commented
      Editing a comment

      Paul Krugman won't be happy about this.

       

       


      A war on savings

      Probably the most painful of the consequences of quantitative easing has been borne by the elderly.

      Most of that generation grew up believing that if you save and exercise prudence that you will earn at least a modest return on your hard-earned money to keep you comfortable in your old age, perhaps along with a pension.

      But the money-printing orgy of the last five years looks to have shot that notion to smithereens.

      Very deliberately, the central bankers have punished savers, pushing interest rates so low that any truly safe investment

  • #3

    Respectfully you don't know what you're asking.

     

    Banks without depositors are called empty buildings.


    Poeple are deposting money at a fever pitch because of uncertainty.

     

    It's not because of the same regurgitated ignorant talking points perpetuated by the left.

     

    And BTW, banks on average are only about 0.75% profitable (ROA).

    Comment


    • Caulk Rocket
      Caulk Rocket commented
      Editing a comment

      nedezero1 wrote:

      Respectfully you don't know what you're asking.

       

      Banks without depositors are called empty buildings.


      Poeple are deposting money at a fever pitch because of uncertainty.

       

      It's not because of the same regurgitated ignorant talking points perpetuated by the left.

       

      And BTW, banks on average are only about 0.75% profitable (ROA).


       

       

      And those banks were not the biggest benefactors of the bailout. 

      It wasn't simply depository institutions. 


    • onelife
      onelife commented
      Editing a comment

      nedezero1 wrote:

      Respectfully you don't know what you're asking.

      Banks without depositors are called empty buildings.

      Poeple are deposting money at a fever pitch because of uncertainty.

      It's not because of the same regurgitated ignorant talking points perpetuated by the left.

      And BTW, banks on average are only about 0.75% profitable (ROA).


      You may be right - I am a financial noob.

      I don't think the banks have all the money because "poeple are deposting money at a fever pitch" but because they have elaborate systems in place to take the money from people.

       


  • #4
    Maybe he is???

    Comment


    • #5

      Uh... exhausting.

      *signature removed by moderator*

      Comment


      • MrKnobs
        MrKnobs commented
        Editing a comment

        CCA wrote:

        Uh... exhausting.




        Once you have some money, it gradually becomes a full time job looking after your money.   Sure, you can delegate it to accountants and bankers and investment managers and tax preparers, but in the end all those people cost you a significant amount of money and have "no skin in the game."  It's your money, you leave it to others at your peril.


        I can think of no task more tedious than attending to all the details that are required to preserve and grow one's money.   Exhausting indeed.


        Terry D.


    • #6

      no one can be this stupid.

      *signature removed by moderator*

      Comment


      • #7

        The economy is recovering!

         

        Bank lending to small businesses declines by 18%

        Comment


        • #8



          coz ya don't keep your money in shoeboxes? 

          not everyone has a backyard? 

          it's uncomfortable to sleep on? 

           

          Comment



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