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re: What percentage of your portfolio is cash?
Posted on 8/6/16 at 8:53 pm to MadDoggyStyle
Posted on 8/6/16 at 8:53 pm to MadDoggyStyle
quote:Not a Ponzi scheme.
but we do keep our money in accounts that are tallied on computer screens rather than in stacks of coins or paper bills.
Just because you don't understand how fractional banking works, it doesn't make it a Ponzi scheme.
Are you advocating that banks be required to keep 100% reserves for all deposits? That is the alternative to having a fractional reserve banking system.
The banks that failed mentioned in your last post, where you did not provide a link for where you copied that quote, did not fail because of fractional reserve banking. They failed because they made too many bad loans.
2
Posted on 8/6/16 at 8:56 pm to LSURussian
Audit the Fed! Count the gold! MAGA!
Posted on 8/6/16 at 9:00 pm to MadDoggyStyle
quote:
Wrong. Fractional banking is a Ponzi scheme. Case closed. Read the link
quote:
Brown is clearly saying here it is banks lending “the use of something the lenders never had to lend” which “is a fraud” because people are made to think they’re borrowing money that’s there to be lent. Surprisingly then, Brown ends up wanting to enshrine this “fraud” by inserting it into the U.S. Constitution. Furthermore, Brown would enthrone the biggest Wall Street banks inside the U.S. Government to continue perpetrating it on the people.
quote:
Finally, after hundreds of pages telling us how bad the debt-money system is, Brown turns around and starts ‘justifying’ the present unsustainable (and unjust) debt-based money system, telling us fractional reserve banking: “… would be sorely missed if banks could no longer engage in it.” [p. 403] Brown completes her remarkable U-turn by rejecting what she’d just said is “the cheapest and most honest way” to create money in favor of keeping the system she earlier said had “reached the end of the line” and jumps to the ‘conclusion’ that we could somehow fix the problem by ‘nationalizing’ the banking business:
quote:
Notice Brown has shifted her definition of the problem from the “fraud” itself to the interest on the “fraud”. She then asserts that taking interest on ‘loans’ of “nothing” would be okay if only “national” banks took it. In one paragraph, Brown redefines the problem and turns the “fraud” into her ‘solution’. But her flawed argument misses the point entirely: it turns our government into a banker, the ‘owner’ of our indebtedness, but does nothing to change the ill effects caused by a debt-based money system.
quote:
It seems incredible that Brown is now advocating what she’s described throughout most of the book as fraud, counterfeiting and Ponzi, pyramid or ‘smoke-and-mirrors’ schemes. Why? Perhaps the answer lies in Brown’s apparent confusion and/or fundamental misunderstandings about the nature of money and the role of government in society, and about monetary history and monetary reform.
LINK
Posted on 8/6/16 at 9:05 pm to LSURussian
Just because you don't understand how a Ponzi scheme works does not mean That fractional banking is a sustainable system.
See, I can create a straw man too.
You didn't read the links anyway so what's the point in linking the same articles over?
Obviously you are trying to defend a system where less than 10% of cash reserves are required by banks to be available when depositors decide to take out "their" money. Enjoy your fake deposits when the banks start limiting withdrawals as they did in Greece and are now duplicating in Europe.
See, I can create a straw man too.
You didn't read the links anyway so what's the point in linking the same articles over?
Obviously you are trying to defend a system where less than 10% of cash reserves are required by banks to be available when depositors decide to take out "their" money. Enjoy your fake deposits when the banks start limiting withdrawals as they did in Greece and are now duplicating in Europe.
Posted on 8/6/16 at 9:18 pm to MadDoggyStyle
Buy gold! Guns! MAGA!
Posted on 8/6/16 at 9:25 pm to Iowa Golfer
The Fed has my back! Forward together! 
Posted on 8/6/16 at 9:28 pm to MadDoggyStyle
Janet Yellen is a hero! All conservatives are in favor of expansionary fiscal and monetary policy!
Banks are God!
MAGA!
Banks are God!
MAGA!
Posted on 8/6/16 at 9:33 pm to MadDoggyStyle
quote:
where less than 10% of cash reserves are required by banks
Is that what you think it means for banks to keep required (fractional) reserves.....a required percent of their deposits in cash?
Posted on 8/6/16 at 11:09 pm to Zach
quote:
And let's say that a great buying opportunity presents itself. If you're sitting on little to no cash, you have to watch that ship sail by... or use margin (assuming it's not a retirement account).
quote:
I didn't watch that ship sail by. When I had 30K in the bank drawing zero interest I took it out and bought stocks. It's really simple math.
quote:
If you're sitting on little to no cash
Posted on 8/7/16 at 12:47 am to castorinho
Yeah, I noticed that. I guess something got lost in the translation.
Posted on 8/7/16 at 1:09 am to Soft_Parade
Less than 1%. I'm not counting emergency fund or checking account.
For my investments, I have a target allocation of 20% bonds. It's currently at 11%. I will sell bonds to buy stocks when I feel there is a buying opportunity (e.g. debt limit crisis, Greece, etc).
I'm currently directing most of new contributions to bonds to correct the allocation.
For my investments, I have a target allocation of 20% bonds. It's currently at 11%. I will sell bonds to buy stocks when I feel there is a buying opportunity (e.g. debt limit crisis, Greece, etc).
I'm currently directing most of new contributions to bonds to correct the allocation.
Posted on 8/7/16 at 9:33 am to LSURussian
If you can't see that global banking, built on fractional reserves, and massive debt is a house of cards, then I can't help you.
I can tell when someone starts deflecting they have lost the argument and are just being obtuse so I won't continue to argue.
When the time comes, I hope that you are happy $20/day withdrawals. Have a great day.
I can tell when someone starts deflecting they have lost the argument and are just being obtuse so I won't continue to argue.
When the time comes, I hope that you are happy $20/day withdrawals. Have a great day.
Posted on 8/7/16 at 9:38 am to MadDoggyStyle
so should i just liquidate all my assets today and withdraw all my cash and just leave it under my mattress so I reign as king when $20/day withdraw limits occur? Get off the goldbug, doomsday sites. I remember when obama won people were proclaiming the worst of times ahead and we had the best market we've ever seen. This is the united states, not some 3rd world african dump, $20/day limits will never ever happen here. 
Posted on 8/7/16 at 9:41 am to dabigfella
It must be nice to be so naive when you can look to Greece, Cypress and other Euro countries as to how a banking crisis looks.
Posted on 8/7/16 at 9:45 am to MadDoggyStyle
do greece or cyprus even have economies? Im pretty sure they do nothing there but cater to tourists. Its comical that you're comparing the united states to greece or cyprus. You know Greece had a GDP of like $200B right? Cyprus had a GDP of $20B and I live in one city in this giant nation called the united states and that one city, houston had over $400B in GDP lol. There's currently 16 cities that have a higher GDP than greece right here in the united states. Dont ever compare us to a POS like that ever again.
Posted on 8/7/16 at 9:47 am to MadDoggyStyle
quote:Where have I deflected? You're the one who keeps jumping back and forth between 'fractional banking is a Ponzi scheme' and 'banks lend money they don't have.' And you've yet to make a logical case for either argument.
I can tell when someone starts deflecting
You ignored my question relative to your understanding of fractional reserves when you referred to banks keeping "10% of cash reserves" so I'll repeat it: "Is that what you think it means for banks to keep required (fractional) reserves.....a required percent of their deposits in cash?"
And you also have not answered my earlier question: are you advocating a system where banks must keep on reserve an amount equal to 100% of their deposits? Please answer.
Your comment in your last post "I hope that you are happy $20/day withdrawals" reinforces the need for you to answer my questions above. If you refuse to do so, then it can only be because you realize you don't know what you're talking about.
quote:That we can agree on.
I can't help you.
So far it's obvious you don't understand what fractional reserves means and you sure don't understand how it works. I'm starting to think you don't even understand what the word "reserves" means, yet you're opposed to the idea.
Unless you can prove otherwise, all you've shown yourself to be is someone who doesn't understand something and therefore fears it.
Websites like ZeroHedge, Alex Jones and Glenn Beck, along with all the gold sellers, make their living off of making uninformed people like you afraid.
Posted on 8/7/16 at 9:50 am to LSURussian
Russian, you cant reason with people like this. These are the same people who proclaimed the world ending when obama won, the same people who have gold bars which in real terms are up barely 50% since 1980 and never once paid a dividend, the same people who constantly tell us the govt is gonna take our guns which still hasnt happened. These doomsday preppers are just people you point and laugh at while life and the stock market passes them by. I dont know how many people have been waiting for that 20% market crash since DOW 14,000, Dow 15,000, etc and now continue with the same rhetoric without any rhyme or reason as to why stocks are "expensive" as they proclaim.
Posted on 8/7/16 at 9:53 am to dabigfella
quote:I'm with you on that. It's obvious he's clueless about banking and finance.
Russian, you cant reason with people like this.
All he knows is he's read about a banking crisis in other countries and now doomsday websites keep telling him he needs to be afraid. So he is. Fear sells.
Posted on 8/7/16 at 9:57 am to MadDoggyStyle
quote:And neither one of those countries' banking crisis was a result of fractional reserve banking.
It must be nice to be so naive when you can look to Greece, Cypress
Their problems were a result of poor asset quality, not because they didn't have enough reserves for their deposits.
Posted on 8/7/16 at 10:02 am to LSURussian
gold is no joke the most dogshite investment I can think of. In the past 36 years if you bought the top in 1980 you're up barely 50% and considering the premiums you pay to pay and sell even less.Gold pays no dividends or rental income. At least with some POS stock like Coca Cola if you bought the top in the year 2000 you've gotten 16 years of dividends + dividend growth which have offset your bad purchase. Im so tired of people saying gold is a hedge on doomsday scenarios, people in venezuela if they had gold cant leave the country with it and mobs of people will kill you for your precious gold bars there right now bc everyone is in dire straits. Gold bars are probably trading hands in venezuela at black market prices, people act like gold is trading for spot prices currently in caracas as the chaos unfolds. Id love to hear real reports on the gold markets in venezuela,iraq,syria and post those metrics all over the goldbug forums.
This post was edited on 8/7/16 at 10:03 am
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