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iwog

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Registered Nov 10, 2007

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iwog's most recent comments:

  • On Fri, 31 Jul 2015, 2:24pm PDT in What's going to happen if the fed raises rates but mortgages don't go up?, iwog said:

    Heraclitusstudent says

    I never claimed it is multiplied, loaned, blah blah, but I have shown INCONTROVERTIBLY that banks deposits increased by a large factor after 2008.

    Not related. Unless you can link them, you have no business attempting to make that point. You have no way of connecting excess reserves with bank deposits.

    Heraclitusstudent says

    - second, banks could not sell t-bills and get $2.6T of cash BECAUSE THERE WASN'T THAT MUCH CASH IN THE ENTIRE ECONOMY IN 2008.

    I warned you before not to use the M1 and I'll warn you again. Besides no one said cash. I said MONEY. The M2 MONEY supply in 2008 was $8 trillion and much of that was held by banks.

    Heraclitusstudent says

    - first there are only $1,393 billions of T-bill available to public trading today: https://www.treasurydirect.gov/govt/reports/pd/feddebt/feddebt_jun15.pdf

    You know you're linking a balance sheet showing $13 trillion in debt held by the public, right?

  • On Fri, 31 Jul 2015, 1:18pm PDT in What's going to happen if the fed raises rates but mortgages don't go up?, iwog said:

    Heraclitusstudent says

    Where is your $2.6T coming from? Do you know?

    Yup, I know. It's coming from bank money that was previously invested in short term bond debt. Mostly in the form of money market accounts or direct holdings. I trust the Nobel Prize winning economist on this point.

  • On Fri, 31 Jul 2015, 1:16pm PDT in What's going to happen if the fed raises rates but mortgages don't go up?, iwog said:

    Heraclitusstudent says

    Again whether the bank lends it or not, if I have $10,000 in my account, I can spend it. If my bank account goes from $350 to $1200 then I have more money to spend.

    Your focus on bank lending is not founded. The key fact remains that much more money ($1T more) is now available to be spent because of fed actions.

    Wow you are really squirmy today. I already said the initial deposit is a constant so why the fuck are you bringing it up again? The initial $10,000 deposit DOES NOT CHANGE.

    What changes is what the bank does with the $10,000 and the financial effects of those actions.

    Heraclitusstudent says

    If you want to dismiss bank deposits being multiplied by 4 as the same as "doing nothing", or "none of it" being available, (or whatever the rhetoric) again you are covering yourself with ridicule. This money is absolutely there to be spent.

    This is a lie. Show me the money trail where $10,000 deposited in the reserve account as excess reserves is multiplied, loaned, or spent in any way. It's in no way required to be reserves for any loans or deposits made by the bank. It's EXCESS.

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