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What Caused the Financial Meltdown?
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<blockquote data-quote="wkmac" data-source="post: 404187" data-attributes="member: 2189"><p>I'm shocked it's long enough to even qualify to be called a span!</p><p><img src="/community/styles/default/xenforo/smilies/FeltTip/happy-very.png" class="smilie" loading="lazy" alt=":happy-very:" title="Happy Very :happy-very:" data-shortname=":happy-very:" /></p><p> </p><p>Good point BTW.</p><p> </p><p></p><p> </p><p>Hmmmm. That might prove interesting if true in relation to the S&L deal in the 80's. Reagan gets the blame because it was on his watch and that's life but I'm a believer in compounding gov't over time (to borrow a principle of investing saying) and that sometimes what happens in one adminstration may have in fact had some roots in a previous term.</p><p> </p><p>Wait! I just remembered, that 1980' Act was what killed Glass Steagall and allowed the Federal Reserve to regulate non-member banks like S&L's. It also gave the S&L's/credit unions/etc. the power to have checking accounts. Why is that so important? Consider how money is created and this directly from the Federal Reserve Bank of Chicago in their book "Modern Money Mechanics" <a href="http://landru.i-link-2.net/monques/mmm2.html" target="_blank"><span style="color: red"><strong>http://landru.i-link-2.net/monques/mmm2.html</strong></span></a></p><p> </p><p></p><p> </p><p>but here's the kicker!</p><p> </p><p></p><p> </p><p>I used the blue highlight for effect. The 1980' Monetary Act and all acts afterwards should be looked at in relation to one aspect. Reserve Requirements. If the reserve requirements are eased, this is a sure way of inflating the money supply through local bank money creation which a debt receipt in itself. </p><p> </p><p><a href="http://en.wikipedia.org/wiki/Reserve_requirements" target="_blank"><span style="color: red"><strong>http://en.wikipedia.org/wiki/Reserve_requirements</strong></span></a></p></blockquote><p></p>
[QUOTE="wkmac, post: 404187, member: 2189"] I'm shocked it's long enough to even qualify to be called a span! :happy-very: Good point BTW. Hmmmm. That might prove interesting if true in relation to the S&L deal in the 80's. Reagan gets the blame because it was on his watch and that's life but I'm a believer in compounding gov't over time (to borrow a principle of investing saying) and that sometimes what happens in one adminstration may have in fact had some roots in a previous term. Wait! I just remembered, that 1980' Act was what killed Glass Steagall and allowed the Federal Reserve to regulate non-member banks like S&L's. It also gave the S&L's/credit unions/etc. the power to have checking accounts. Why is that so important? Consider how money is created and this directly from the Federal Reserve Bank of Chicago in their book "Modern Money Mechanics" [URL="http://landru.i-link-2.net/monques/mmm2.html"][COLOR=red][B]http://landru.i-link-2.net/monques/mmm2.html[/B][/COLOR][/URL] but here's the kicker! I used the blue highlight for effect. The 1980' Monetary Act and all acts afterwards should be looked at in relation to one aspect. Reserve Requirements. If the reserve requirements are eased, this is a sure way of inflating the money supply through local bank money creation which a debt receipt in itself. [URL="http://en.wikipedia.org/wiki/Reserve_requirements"][COLOR=red][B]http://en.wikipedia.org/wiki/Reserve_requirements[/B][/COLOR][/URL] [/QUOTE]
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