atx crypto club



Anon Ymous

Tue Jan 7 00:00:59 2020
<9e126bf3> Financial markets fail when there is systematic credit fraud. But instead of fixing systems that lead to that fraud, they want to grow government role in markets- credit fraud is what government wants to increasingly enable as part of its policy toolbox
&gt; “Those who support fiscal tightening argue that it is indispensable for restoring the confidence of financial markets, which is perceived as key to economic recovery,” the report said.
&gt; “This is despite the almost universal recognition that the crisis was the result of financial market failure in the first place.”
— U.N. Body Warns of Risks of Global Austerity
— The global economy faces a stagnation because governments are pursuing austerity measures rather than stimulus packages, said a United Nations report.

<8f79fcda> “Regulation serves to protect the criminals” – sowell
<9e126bf3> indeed
<8f79fcda> And ofc the UN is going to say that
<9e126bf3> can’t forget Krugman
&gt; It is impossible for countries such as the US and the UK, which borrow in their own currencies, to experience Greek-style crises, because they cannot run out of money – they can always print more.
— The austerity delusion | Paul Krugman
— The long read: The case for cuts was a lie. Why does Britain still believe it?

<8f79fcda> Their existence is predicated on there being a financial bubble to exploit
<9e126bf3> absolutely
<8f79fcda> Or artificially prop up
<9e126bf3> it’s literally what fiat is… monetary policy is the art of blowing bubbles
<40112834> Love Sowell!
<8f79fcda> There’s a thing called “REPO” – it’s the overnight lending/credit system that banks and corporations sweep money into overnight
<8f79fcda> Apparently 8-ish months ago it ran out of liquid cash to float the market

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