• 10 Posts
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Joined 1 year ago
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Cake day: July 4th, 2023

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  • This isn’t going to do anything. First of all, North Korea is probably not going to send battle ready soldiers to a foreign country. There’s really no reason for it. They might send ditch diggers for trenches.

    Second of all, this isn’t going to move the needle on the battlefield. Russia already has more troops than Ukraine. They need more and better arms and ammunition, plus better support, training, airplanes, missiles, drones, commanders, etc. Basically Russia needs a completely different military.


  • It’s not a “failed model”. Japan has issues because banks committed fraud and disguised non-performing loans. There are strict rules in the US about when assets must be “marked to market”. Plus the US has a growing population because we let in immigrants, which supports a growing economy. We are not close to having problems like Japan.

    There are also many levers the Federal Reserve can pull to keep banks in check. As I said, they can raise and lower the reserve requirement and raise and lower the overnight lending rate. This can prevent banks from going nuts with lending, but obviously can’t prevent all asset bubbles. Sometimes people are just irrational.

    Frankly you seem to be using a bunch of big words and implying that they make a point. Using “ex nihilo” instead of “from nowhere” clinched it for me. Also, you spelled “keiretsu” wrong.


  • Yes, they still have it. It’s just not in cash.

    Fractional reserve banking works because most people don’t need all their money as soon as they get paid. Most businesses keep some money in the bank too. Banks have a required percent of deposits that they must keep on hand to allow these withdrawals. And if they run low on cash, they just borrow money for a day from other banks (literally just one day). The US government can adjust the percent of required reserves or the overnight lending rate to keep banks from lending too much money out.

    Banks use this money to loan to businesses or people buying houses. It works well because whenever the money is loaned out it is used for a purchase and just redeposited in another bank. A percentage of that money is retained by the bank and the rest is loaned out again. And again and again. This way money is “created” when people buy things in the economy.





  • “You better hire another negotiator within 48 hours, and fire this clinical idiot who values Americans’ bank secrecy at $50,000,” the LockBit post said

    My friend, you don’t want the Federal Reserve to be mad at you. They’re offering a low price because the alternative is that you spend 20 years in a federal prison.

    You’re lucky they’re embarrassed about the hack. I’m surprised they’re offering anything besides, “Turn yourself in and we won’t yank you out of your house in Bulgaria in the middle of the night”.







  • This was done on purpose so the crisis didn’t escalate. There’s no world police to prevent Russia from nuking everyone. It’s better for outside actors to focus on de-escalation anyway.

    Also, Putin is not doing this because of Ukraine. I mean that’s part of it, but he is doing it for domestic appeal. He wants to appear tough to Russian citizens. Two situations allow that: beating Ukraine easily, and losing to NATO forces. He knows NATO will not risk invading Russia, so he’s in no real danger from the second one.

    NATO is intentionally not intervening because it makes Putin look weak domestically. Russia has created their own problem and the war will not end until the people of Russia demand it.