/biz/ - Business & Finance

[Anonymous No.57908782]

AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!

[Anonymous No.57908833]

The gold standard in being consistently wrong

[Anonymous No.57908897]

>>57908782
LINK?

[Anonymous No.57909075]

>>57908897

https://youtu.be/BQlK-pS38lw

[Anonymous No.57909560]

>>57908782
>>57909075
your interview sucks my dude
also, you're talking to the guy preaching about "protecting yourself", but he's the dude who got attacked by the IRS and lost his bank
that should tell you everything you need to know about how "risky" crypto is vs banking

[Anonymous No.57909885]

>>57908782
>bank is insolvent
>oh no we have no money pls save me fed
>fed prints enough money to bail out bank
problem?

[Anonymous No.57909951]

>>57908782
why should I trust somebody that has been consistently wrong in all his predictions?

[Anonymous No.57910048]

>>57909885
yeah, eventually they can't print fast enough and all crumbles
hence the great reset
yes, there is even a point where punching numbers into a computer will no longer work

[Anonymous No.57910598]

>>57909075
>>57909560
its a solid interview

[Anonymous No.57910785]

>>57910048
Cope Austrian economic tard, wagies will just work harder and pay their taxes to keep the whole thing afloat.

Bank bailouts work in 2008, it worked last year, and it will continue to work so long as wagies keep on slave waging, which they will because they have 80 IQ.

[Anonymous No.57912085]

>>57910785
>worked
>insane inflation and economic decline
lol

[Anonymous No.57912279]

>>57910785
your wagies do nothing
you export dollars to pay for everything
guess what happens when you don't have that option anymore

[Anonymous No.57912310]

His argument: Fractional reserve lending means banks don't have the money to honor mass withdrawal, and are thus insolvent. F off we know this.

[Anonymous No.57912336]

>>57908897

I didn't even listen to it yet actually. I just saw the thumbnail and thought it was funny.

[Anonymous No.57912356]

>>57912310

We don't have fractional reserve lending though. Which Peter Schiff refuses to acknowledge.

[Anonymous No.57912365]

>>57908782
banks failing is gigabullish for bitcoin

[Anonymous No.57912382]

>>57912356
>We don't have fractional reserve lending though.
What? What do you think we have then?
What happens when banks issue a loan and they don't have the reserves?

[Anonymous No.57912462]

>>57912382

Banks issue loans from nothing. When they make a loan they create new money, they don't loan out existing money.

The idea that you deposit $1k into the bank and then they loan out $900 of it and keep $100 (10%) in reserves is a myth.

Banks main issues is when the medium-term treasury notes they hold are marked-to-market at a lower value because interest rates are higher and they have high-risk depositors (people with more than $250k) trying to move their deposits to another bank.

[Anonymous No.57912497]

>>57912462
In a banks balance-sheet, assets must = liabilities.

If they create a loan (asset), they must also have a corresponding liability (bank deposits). Further, they're required to hold liquid assets to cover liquidity requirements. They don't create loans "from nothing".

[Anonymous No.57912544]

>>57912462
What should our banking system be called then if not for fractional reserve?

[Anonymous No.57912658]

>>57912497

>They don't create loans "from nothing".

Okay. Let the ex-head of the Federal Reserve of New York's trading desk know that. And every economist worth his salt.

The only constraints they have on loans are credit risks. The liquidity requirements don't matter. There is plenty of information out there explaining why.

>>57912544

Idk. But it's not fractional reserve. At least not in the way people think it is.

[Anonymous No.57912711]

>>57908782
>buy my gold! (at all time high)

[Anonymous No.57912818]

>>57912711
Gold isn't all time high, dollar is all time low

[Anonymous No.57913024]

>>57912711
>buy my bitcoin! (at all time high)

[Anonymous No.57913375]

>>57913024
let's see which performs better going forward

[Anonymous No.57914150]

>>57912085
Yet plebs continue to buying corn pops at ATH prices
What's the issue?

[Anonymous No.57914497]

>>57908782
he's only saying this cuz BTC is up

[Anonymous No.57914525]

What is fractional reserve banking?

[Anonymous No.57914906]

>>57908782
>the economy sucks because my real estate investments are bleeding hard
lmao

[Anonymous No.57915058]

>>57912497
You are literally retarded.
This is financial advice.

[Anonymous No.57915408]

>>57912711
>>57912818
>>57913024
neither are at ath

[Anonymous No.57915413]

>>57912497
>In a banks balance-sheet, assets must = liabilities
bro did you just time travel to the future from the 18th century ???

[Anonymous No.57915442]

>>57908782

Great "news" for bitcoin. Hardly news as we all know fiat is a scam, that is why 1 bitcoin is worth 70k fiats

Given that fiat can be printed unlimitedly and is worth zero, by association bitcoin is worth infinite

[Anonymous No.57915451]

>>57912497
looooool get a load of this guy

[Anonymous No.57915466]

>>57915413
>>57915058
hes right though
thats how banks go under
when they dont have enough assets to cover their liabilities

[Anonymous No.57916991]

>>57915466

He's right about double-entry bookkeeping. He's totally wrong about liquidity requirements (which banks easily get around) and fractional reserve lending. I'm only going to repeat myself one last time. Banks do not loan out existing money, they create new money out of nothing when they make a loan. Until you can get your head around this and accept this, you'll always have a fundamental misunderstanding of the banking system.

[Anonymous No.57917041]

not my problem
*fart*

[Anonymous No.57917075]

>>57908782
I just wanted to make some money, but its looking so bad; now normies will be in hell while we come out as the new elite.

[Anonymous No.57917101]

>>57912711
The least conservative...
If you want to earn 1.2% a year buy gold.
It's time to invest in AI

[Anonymous No.57917130]

>>57917101

My porfolio
>FI
>QUBIC
>ZEPH
>BAKA
>AGRS
>PEAQ
>ANDR
>THT

[Anonymous No.57917142]

>>57917130

I do 10x with AGRS this year

[Anonymous No.57917151]

>>57917130

Nice porfolio

[Anonymous No.57917162]

>>57917142


0.95 since 2017

[Anonymous No.57917175]

>>57917162

Mentally retarded

[Anonymous No.57917208]

>>57917142

For sure 30-50x this year

[Anonymous No.57917225]

>>57908782
>Man predicts the collapse of the banking system for the 30 year in a row.

[Anonymous No.57917867]

>>57917225

Pretty much.

[Anonymous No.57918049]

>>57915466
that's every bank bro
go look at JPM's ratio