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Erm, no... It all started with you suggesting that "you wouldn't know if the fed is not supporting the stock market" and "it's not like they open the books..." (from your post on page 4). Was I incorrect in interpreting this as an assertion that the Fed could be intervening, but then...

Awwwww, does that mean we can't stay friends, you and I?

1. Since when does the verb "create" has the same meaning as the verb "hide"? The assets/liabilities that were created in the course of the Fed lending are there, for everyone to see (if they bother). This is a fact. 2. What do you mean "we don't know who owns or controls those banks"...

Right, fine, let's play this game again a bit... 1. Fed did lend trillions, yes. To be exact, the actual amounts lent were between $1.2trn and $1.5trn, depending on how you account for the various bits and pieces. $7.77trn reflects Fed's maximum commitment (i.e. the max amount it could have...

Because it is boring, jem, honestly... I have engaged in similar discussions before (you can find the older threads if you so desire). It's obvious to me from your remarks that you've made up your mind already. There is no point in me trying to reason with you, as you will not be hearing...

Yes, they're hiding a few annual GDPs worth of assets they've bought on the sly in a vault in Switzerland... And has anyone ever seen Britney Spears and Ben Bernanke in the same room at the same time? Just sayin'...

So I am a massive fan of internet-based lending and I am supporting a few of these efforts. However, you need a LOT more transparency on behalf of the borrowers for this to work properly. I don't see why that can't be done, given the internet. As to full-reserve banking, I just think that...

NSI is HMT or, in their own words, an Executive Agency of the Chancellor of the Exchequer (just a way to issue gilts to retail investors). And, I assure you, HMT isn't a full-reserve entity by any description. [B] Well, again, like I said before, there's a whole weight of historical...

Well, the best reason that I can think of is that it seems that this is the best thing to do, based on available empirical evidence. This is further theoretically corroborated if you perceive (as most societies do) banking as a public good. After all, the government doesn't allow water and...

I am not sure I completely agree with your point about why the insco's don't get bailed out. Don't think it's a matter of premia, really. I mean, sure, a loss of a life insurance policy feels like it's less of an immediate pain than losing a bank deposit, but it can still be a large loss...

I think a million or so of my brain cells just died, screaming in agony, as I read and attempted to understand the drivel above. Why oh why did I venture into this thread?

It's the patriotic thing to do, I'm sure... Like 'em Freedom Fries, innit?

Again, with all due respect, I have to disagree with you. Obviously, perfection is impossible, but traditional insurance companies exhibit a failure rate that is several orders of magnitude below that of financial institutions. Consider that between 1970 and 2000 there were around 700...

I am not sure I agree with this... The traditional insurance industry seems to have done OK, black swans or no black swans. Sure, you hear about the large payouts that insurance companies have to make, but they mostly seem to take the unexpected in stride. I don't see why this can't work in...

Yep, 100% agreed. [B] I have said this many times. Full reserve banking doesn't work and doesn't exist other than a purely theoretical concept. It certainly won't be viable in an environment where full reserve banks are expected to compete against the fractional reserve ones. UK building...

Well, it may be efficient to backstop "some" deposits in the interest of having a banking system that is not completely reliant on the state during times of stress. However, it's also very true that too much of a good thing can breed moral hazard and introduce other unpleasant issues. So in...

As I have mentioned in our other conversations, I remember 2008 all too well. I was right in the middle of that sh1t and I still have the scars. So I am 100% in total, unwavering agreement with you re: Glass-Steagall. It's shocking that there's been no progress in the US on this issue...

Yeah, bruv, right on...

Kinell! When The Donald talks, you gotta listen. He's a quiet, soft-spoken, self-effacing man, not known for hyperbole and overdramatization. A veritable shrinking violet, The Donald! What is one to do when The Donald and other great people mentioned in the article tell you to run for the...

"Historically" is a bit vague here, tbh. How far back are we talking about? Before the FDIC was established in the US, there was nothing in the US, for example. In the Eurozone, every national government, at least up until now, does whatever it feels is the right thing to do. For example...