Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: RJA_ who wrote (72954)	3/19/2010 1:14:04 AM
From: Maurice Winn	1 Recommendation of 74559

That's an excellent idea. <The Federal Reserve believes it is possible that, ultimately, its operating framework will allow the elimination of minimum reserve requirements, which impose costs and distortions on the banking system." > Leave it to the shareholders of each bank to decide how much to keep in reserve to handle fluctuations in demand. If they get it wrong, they'll lose their money. Losing money is a good punishment for mismanaging businesses. Shareholders took quite a hiding in the last plunge a year [and more] ago. The government made a profit on many of the rescue financings because it wasn't always just a total handout to deadbeat shareholders and creditors. If the Fed keeps changing their way of running money, they could even head off my fancy new Qi currency at the pass. That would be good. But they are extremely unlikely to do that because greed is a dominant human characteristic. Meanwhile, I'll keep preparing the system ready to take over at the right time. If they do change their system making Qi irrelevant, then that's okay by me. I just want things good. Noblesse oblige, Mqurice

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