Very good point, Geoffrey: ³Perhaps banks should be forbidden from lending to each other so that all balancing of the books would be totally under central...
Dear Geoffrey, In practice, the banks sell the foreclosed property to cronies at unrealistically low prices. It¹s the cronies who make the surplus. The banks ...
Right, Geoffrey, not all gov¹t debt increases the money supply. I don¹t think I gave that impression. I merely said that paying OFF the gov¹t debt would...
I should perhaps have explained the character of bank insider dealing on foreclosures better. It's true that banks order foreclosed properties to be sold at...
Thanks, Geoffrey, Re pensioners, I thought I had written to the Gang my proposal for how Latvia would deal with this problem. Many pensioners live in areas...
Thanks, Gunnar. Absolutely right about the productivity figures. That would be another show, with a lot more anecdotes featuring the NBER and Solomon Fabricant...
In support of Dirk, look at Japan-financed Carry Trade. And as you point out, Geoffrey, the fact that banks can lend to banks shows that the banking SYSTEM...
Michael, I do not follow your argument, A 100% of what? It would mean of course there would be no LIBOR, which causes a technical problem as so many commercial...
Bill, Not that I am aware, but I am not up to date on mortgage law. The Texas system is great. We have no such protection that I know of. Sales are usually by...
...regarding Dirk's point, however much banks push loans, a matter I dealt with in TTM, they are still creating money for depositors, not themselves, and as...
The point that Dirk is making is that in the United States, thanks to repeal of the Glass-Steagall Act, banks have turned into Loan Originators. Whereas in the...
Dear Geoffrey, I suspect that the issue of ³risk² will have to be decided in the courts ‹ which means five years of waiting, as there are so many lawsuits...
Dear Gang. FYI. Gunnar Transcript of a Press Conference by Dominque Strauss-Kahn, Managing Director-designate of the International Monetary Fund, with Masood...
What an awful interview, Gunnar! Was there a particular passage you wanted us to note? What I noted is that the US now controls both the World Bank AND the ...
Dear Michael. I have underlined some parts of Mr. Strauss-Kahn's comments which strike me as noteworthy. Gunnar MR. STRAUSS-KAHN: We need more multilateralism....
I guess the de-dollarization has begun. Any thoughts on how Old Europe may protect itself from the dollar glut? Or does Europe suffer from the Stockholm...
Michael asks ... In the long run: To be blunt about it, either Russia becomes a member or the EU or the US coughs up its 'rights' to Australia and New Zealand...
Geoffrey and ALL. (I have done it Geoffrey) Since I have been away in Stockholm for a week and might be so also in the future, this is an issue that concerns...
Effectively, banks' not client preferences determine the creation of loans. Indeed, Dirk. You will recall that was a major point in my books. Geoff ... From:...
Of course all the repossessed properties I have seen had been stripped of everything removable by the owners, so a specialist purchaser was inevitable. There...
Oops - yes I do, and apologies for explaining your book to you. But I was tempted to because then it also seems to follow - to my mind - that banks DO create...
Dirk, Yes. Of course banks would not create deposits for others if there were not something in it for them. They expect a reward for the huge risk they take...
Agreed. Dirk ... -- Dirk J Bezemer, Ph.D. Assistant Professor Faculty of Economics University of Groningen Landleven 5, 9747 AD Groningen, The Netherlands ...
Gang, Good policy advice in the attached paper. Dirk The Macroeconomic Implications of MDG-Based Strategies in Sub-Saharan Africa - Policy Research Brief # 4 ...
Debunking the Federal Reserve Conspiracy Theories (and other financial myths) BY: Edward Flaherty, Ph.D. Department of Economics College of Charleston, S.C. ...
I have followed as carefully as I can the intricacies of this discussion. While I respect Geoffrey's view, and often end up feeling that he may be right, I...
