Couldn't tell from what the guest said if the 'not for profit' public bank was substantively any different from the 'Wall Street' faux opposition he cited.
1. not clear if it is like the giro bank model in which each loan is 100% match funded against deposits, or if it does riskier multiplier based lending just like ordinary banks;
2. seems his institution charges interest on loans advanced although no discussion of how the rate might differ from that charged on commercial bank loans.
Basically appears Government / public body tax receipts and other funds are banked with public banks which can then indulge in 'creative lending' for purposes of zany but politically popular projects which the commercial banks won't touch. He mentioned German sparkassen but the closer analogy is probably the German landesbanken which despite illegal State support were commercially disastrous when roaming into lending, securities trading, derivatives etc beyond their primary remit.
'Web of Debt' Ellen Brown is apparently also an officer of his institution. She's already been adequately savaged by Mike Montagne.
Who is that guy in the picture?
ReplyDeleteLindsey
Thats an Eskimo lindsey please wheres yo manners..
ReplyDeleteYou handed her a stack of your 'demon on two legs' flyers on the Metro. Don't you remember?
ReplyDeleteUsurer-friendly.
ReplyDeleteCouldn't tell from what the guest said if the 'not for profit' public bank was substantively any different from the 'Wall Street' faux opposition he cited.
1. not clear if it is like the giro bank model in which each loan is 100% match funded against deposits, or if it does riskier multiplier based lending just like ordinary banks;
2. seems his institution charges interest on loans advanced although no discussion of how the rate might differ from that charged on commercial bank loans.
Basically appears Government / public body tax receipts and other funds are banked with public banks which can then indulge in 'creative lending' for purposes of zany but politically popular projects which the commercial banks won't touch. He mentioned German sparkassen but the closer analogy is probably the German landesbanken which despite illegal State support were commercially disastrous when roaming into lending, securities trading, derivatives etc beyond their primary remit.
'Web of Debt' Ellen Brown is apparently also an officer of his institution. She's already been adequately savaged by Mike Montagne.
http://archive.org/details/mathematically-perfected-economy-audio