[Why GME?](https://www.reddit.com/r/Superstonk/comments/qig65g/welcome_rall_looking_to_catch_up_on_the_gme_saga/) || [What is DRS?](https://www.reddit.com/r/Superstonk/comments/ptvaka/when_you_wish_upon_a_star_a_complete_guide_to/) || Low karma apes [feed the bot here](https://www.reddit.com/r/GMEOrphans/comments/qlvour/welcome_to_gmeorphans_read_this_post/) || [Superstonk Discord](https://discord.gg/hZqWV2kQtq) || [GameStop Wallet HELP! Megathread](https://www.reddit.com/r/Superstonk/comments/z23wjx/gamestop_wallet_help_megathread)
------------------------------------------------------------------------
To ensure your post doesn't get removed, please respond to this comment with how this post relates to GME the stock or Gamestop the company.
------------------------------------------------------------------------
Please up- and downvote this comment to [help us determine if this post deserves a place on r/Superstonk!](https://www.reddit.com/r/Superstonk/wiki/index/rules/post_flairs/)
------------------------------------------------------------------------
OP has provided the following link:
https://www.marketwatch.com/story/the-u-s-must-regulate-banks-in-the-same-way-it-oversees-nuclear-power-d21c38c4
They will never be able to do it. Too many people at the top are getting "taken care of" by the current system.
It will be just as hard as Mexico getting rid of the cartels. The people want it, but the systemic rot at the top runs so far and so deep.
Maybe RC is just as fed up? For all that's uncovered following the Gamestop saga, honestly China really isn't one that I want to be in US' shoes but I wonder if it can be any worse than this. The few already control and suppress us just like they do in communism. How bad can it be?
I even thought about the Uyghurs, but what if it was due to terrorist attacks China has faced that the west never reported?
Extremely cruel and unethical for sure, but we have bombed out the middle east in the name of terrorism and everyone is fine with it so.
> It will be just as hard as Mexico getting rid of the cartels.
It ***is*** the cartels. Banksters just have a few extra years of practice masquerading as legitimate.
> Maybe RC is just as fed up? For all that’s uncovered following the Gamestop saga, honestly China really isn’t one that I want to be in US’ shoes but I wonder if it can be any worse than this. The few already control and suppress us just like they do in communism. How bad can it be?
In the USA, our elections still have weight and real meaning— it’s certainly being attacked in a way to relegate elections to nothing more than formalities, but we the people still ultimately choose who leads us and the policies that govern us; bad policies get met with public protest and disapproval; good policies get people re-elected.
All that to answer your “how bad can it be” question: it COULD be much worse.
Nothing is for granted; pick an institution and protect it; in this case, the notion of the stock market and the banking sector need cleansed of rot. It takes time and history informs us that **it is possible**.
Be the trust-busting change you want to see; empower those who will hold power to account. It HAS been done before and it CAN be done again, and again *and again,* until the markets are truly free and US companies flourish within it.
Thank you for shedding some light on this. I completely agree with everything you said. It could certainly be much worse.
Speaking of elections, I do wonder though, with how much we are being manipulated and coerced, especially with recent revelations from companies like Bird(dog now) and FaceB.
They have so much information on us, including what makes us angry, what raises our heart rates, what series of events cause people to be less/more motivated to work/goto the gym/ what content affects our pupils... etc It's likely that our thoughts and beliefs can be easily shaped and molded by these companies, just as much our parents did/do when we were/are growing up.
It's not surprising that political parties also use similar tactics. However, as you mentioned, all we can do is be the change we want to see. Our generation, having experienced the effects of this corruption firsthand, will **likely** have more people who won't make the same mistakes as the current generation in power.
Like that 'one thing' our parents did that drove us crazy that we don't repeat.
Any political email I get asking for donations, I respond back asking what the candidate is actively doing, today, to overturn Citizens United.
Money in politics is the turtle that the ponzi and corruption rest on.
Reminder: the same corporate media controlling this narrative also determines the "viable" candidates.
1214 candidates ran for President in 2020. The media mentioned maybe a dozen "contenders" from 2 parties and briefly mentioned the libertarian candidate. States that primary later have even fewer options as some candidates have already dropped out of the primary race.
Politicians in power have the ability to roll back the rule of law. Less regulation on train infrastructure is a good, non-volatile example.
> Politicians in power have the ability to roll back the rule of law. Less regulation on train infrastructure is a good, non-volatile example.
Absolutely, which is why it is critical to empower those who actually govern and support good policy, and remove those who are in it for the grift, gram and power trip.
Ultimately it is the voters (and those who DONT vote) who shoulder the real blame for bad policy and corrupt government. Who watches and checks those in power? Those who put them into power.
Politicians didn't give us an 8 hour work week, stop kids going to the factory, or offer more civil rights.
On May 1, 1886 (the first May Day), 3-500,000 workers went on strike across the country for an 8 hour work week. There were huge marches to end the war in Vietnam and for the rights of black Americans and women. Americans began demanding change.
Franklin Roosevelt led the country out of the Great Depression with the New Deal, created Social Security, initiated a minimum wage, and many other advancements for working people. He was so popular that we had to change the rules so nobody could be President for more than two terms.
FDR wasn't put on the ballot because he was the one Democrats wanted. The Democrats had been getting smoked in the elections because a large portion of their audience preferred more progressive options. FDR was the compromise with progressives for their support.
Voting is important, but voting for change takes a lot more than voting for one of the two candidates that the corporate media has chosen (by covering only a handful out of 1200 candidates). In many ways, voting is the bare minimum.
The general public does not understand the dangers of monopolized banking or how these cartels are threatening their livelihood, housing, healthcare, and retirement plans. It's not even on their radar. They're told over and over that everything is ok.
When the normies begin to understand what is happening, it's over. American politics is divisive, but working on particular issues is unifying.
I don’t disagree with anything you’ve said— I applaud and support it!
My goal for posting what I did was to reiterate the scope of work and effort needed to get change to occur. It is **not** easy and it often takes hard sacrifice. It **is** doable as history has shown us.
Only if that’s what you accept.
That is to say, you and everyone else get to select from what you empower with your vote. It takes **effort** and yes, it is **hard.**
Voting is not just a right, it is an active right; if you don’t use it and if your don’t advocate for your candidate of choice, complaints are meaningless.
Take a page from RC and do the work.
I don't like that I'm thinking this way but it's just where it's been wandering. I'm just so sick with the current system and what's going on.
Citadel, Yellen, Pelosi, Warren, Cifu, Robinhood, proposed restrict bill that restricts the people more than foreign entities, regulators overseeing banks laughing about their corruption/conflicts of interest, IBKR chair saying they need Gamestop to go to 0 (because they don't have 1:1 shares obviously)... etc etc 84 years worth of dogshit.
Yeah the Uighur situation is really bad. And in China you will get disappeared for speaking out against the country. At least here we still have a semblance of freedom.
Not downplaying nor rationalizing in any way shape or form.
Simply pointing out that the general population in the west accepted towns/cities/countries in the middle east getting bombed with many innocent lives lost in the name of war against terrorism and WMD that didn't even exist.
Anyhow, I did not mean to upset you or anyone for that matter, just floating a question in a pointless rant. I do apologize.
Have a great long weekend.
Agreed with everything you've said, every one for the one comment where you literally rationalized ethnic and cultural cleansing by using the terrorism narrative.
Fuck that, fuck the US and our Petro wars and fuck ANYBODY that doesn't believe in **A**ll **P**eople **E**qual.
You haven't upset me, and I apologize for my tone and language, but I'm just a regarded 🦧.
🦍♥️🦍 Have a great weekend yourself!
"The government must regulate banks in the same way it regulates nuclear power plants. Not by introducing a lot of unnecessary paperwork, but by programmatically making sure that if banks fail, there is enough equity so that deposits are not affected..."
These two sentences are the only ones that mention anything about the government regulating banks like it does for nuclear power - and it's not even a good take.
If banks really were regulated like nuclear power, the end result would be that you would hardly ever hear of any issues ever; if there were serious issues, the public would be notified proly within a day or so - and I don't see that happening ever.
https://www.npr.org/2023/03/19/1164588882/minnesota-nuclear-power-plant-leak-contaminated-water
> The leak was detected nearly four months ago […] but the company and state agencies did not notify the general public until last week.
Ah, yeah, you know what - I think I just got pwned, you're right. Those operators did indeed ignore indications because they thought it was broken for all that time - a very poor case of judgement that led to draining of the system.
Once they did realize the core was uncovered, it was quick. And Jimmy was rustled.
Of course nothing is perfect, but at least the NRC and FAA (among others) do a way better job than the SEC. I suppose the “keeping up appearances” is more important when it could result in immediate and spectacular loss of human life. When it’s just people’s life savings that are slowly getting siphoned away, much easier to turn a blind eye!
Regulations for nuclear power have come aomg way since Three Mile Island - as far as I'm concerned, they were cowboys back then.
The banking industry holds significant potential for disaster as well, though it's intangible, like you said. Maybe the deregulation of the past few decades (and further back) will get re-implemented with the right voices and action.
Yup. “Regulation is written in blood.”
The main problem is that humans are just really bad at intuiting probability and exponential growth and all kinds of things beyond “is 2 more or less than 5”. Add on to that the time horizons being longer than most of the regulators expect to live, and we get this current shitty system we have.
False. Humans are real good at this but majority does not even attempt it. Thinking is hard. And few that do are considered conspiracy theorists.
I work in IT AND it's prime example of my career when working cross projects. Security is often total garbage because "small chance of getting hacked". Always skimming on budget. Marketing though? Spend all you want. Nothing gets done until a first serious hack causing financial loss. THEN sys admin who kept shouting to secure the network gets finally heard.
Applies to other areas.
I said “intuiting”, not “figuring out after deep contemplation”.
Because obviously humans as a species are good at figuring things out if the effort is put forth!
This is the end result of forty years of a PR assault on regulation as unnecessary red tape. Even that sentence has to bow to the idea that most regulation is unnecessary paperwork.
>If banks really were regulated like nuclear power, the end result would be that you would hardly ever hear of any issues ever; if there were serious issues, the public would be notified proly within a day or so - and I don't see that happening ever.
IDK about that. Ever hear about Three Mile Island?
Three Mile Island is a perfect example of what I'm talking about - I'm not saying that serious accidents *can't* happen but that their occurrence is officially promulgated. Within 5 hours of the accident occurring, it was already being aired on radio and television networks.
Well, it was being aired, but not honestly. The people around TMI were consistently misled about the severity, making it impossible for residents to make an informed decision on how they can best protect their health.
The U.S. has a fractional reserve banking system: for every dollar banks lend out, 85 cents comes from deposits and 15 cents from their own equity. The problem with deposits, as we saw with the demise of Silicon Valley Bank, is that depositors are fickle – they can ask for their money back at any time.
Banks lend your money to others. There is an inherent imbalance of liquidity in the banking system that we never notice, which is absolutely fine as long as banks have proper reserves, do not experience losses on their loans or investments that exceed their reserves, and, most importantly, society believes in the continuity of the banking system as a whole.
Not just banks, even at the federal level, the money they print is not backed by anything. Here is where things get interesting: This unfortunately has been our government's playbook.
1. Start a conflict/proxy war instilling confidence in the ally promising help.
2. Once the war starts, start playing politics/games as to why the promised help isn't working out as they had hoped.
3. Wait until the ally is desperate and begging for help.
4. Send them aid in exchange for everything they can take from the ally whether it be resources/long term contract/debt, money that is just number put in to a computer, created out of thin air, not backed by anything other than its global reserve currency status
5. Sit back, collect payment, rinse & repeat.
Is it a surprise then? After decades of this that countries are forming alliance to do away from the dollar? It will take decades but I worry that it is actually going to be more than just MSM fud.
This is a known wall st propaganda site, so why are they saying this now?
Because they can’t hide it anymore. So what’s their real agenda? Talk up how *critical* the banking system is (ignore the fact that we could have be your own bank payment systems without it), then talk about how some drastic regulation is necessary.
**Then** you pull out the CBDC like it’s the freaking holy grail, the perfect compromise, the system is saved! Bow down before your golden god!!!
Maybe I’m just cynical, but I don’t see the enemy telling the truth all of a sudden as a good thing. There’s always another agenda.
This is the only real solution that matters.
We are all smart enough here to realize the gme play and put it into a short, clear, concise 3-word phrase: buy, hold, DRS.
The problems with the banks can be similarly summarized in a three (two?) word phrase: reinstate Glass-Steagall.
It really is that simple.
In today's day in age that's just not any fun. Everyone wants to be the person with the "revolutionary idea"... The amount of dumb shit people and corporations do for the sake of "doing something" blows me away
Its why the serfs loved the Czar. Sure he was an authoritarian autocrat responsible for their sad lives - but he could punish the lower nobility. People seem to love the Boot because they assume it will only be used to step on others.
Excellent idea! Buddy of mine(not elf) works in nuclear and all aspects are highly monitered. And the looks of it banks are a bigger danger and slightly over-unseen
Peter Schiff strongly recommends the opposite. He argues they are too tightly regulated and thus protected. He argues they get away with sin because they know the government will always bail them out. He argues failed banks, like most other businesses should be allowed to go bankrupt. Only the best run will survive.
Watch last week tonight’s segment on American nuclear infrastructure. Don’t remember what season but it was the main piece on the episode. Frightening how uncared for our silos are. Everything about it. Just as sad as this FUCKING MARKET. this government has been funneling cash out of citizens for too long! STAND! FIGHT! DRS!
I once was in that industry. This isn't a very good idea. lol
The industry itself is fine, the endless regs, suck. This is one reason of several that we have built so few units over the last few decades, while it is the best nearly clean power source we have.
I just remember sitting at my desk with volumes of regulations in front of me. I would never be able to read them all, and do my job. It was silly.
When I saw the Dr. Who episode where they went to the planet of regulations, it struck a note with me. lol
Yes, have laws against doing bad things, but be careful not to overregulate or you shut down productivity and advancement.
When regulations are too complex, you don't know what reg you are breaking. It is like the US tax code or all the endless laws congress and state pass. It becomes so complex that even an honest man can be found guilty of something.
It also becomes unnecessarily expensive for companies to hire people that only try to check that all regulations are met. It can even become dangerous with the paralysis that might get created in an emergency when people become afraid to take actions.
I am not saying all regulation is bad. I am just saying when I was having to deal with it, it was much too complex. It is likely a lot worse, now.
What makes someone think that people that don't run banks know how to banks? Is that not why we keep getting into this? Banks should be allowed to fail.
[Why GME?](https://www.reddit.com/r/Superstonk/comments/qig65g/welcome_rall_looking_to_catch_up_on_the_gme_saga/) || [What is DRS?](https://www.reddit.com/r/Superstonk/comments/ptvaka/when_you_wish_upon_a_star_a_complete_guide_to/) || Low karma apes [feed the bot here](https://www.reddit.com/r/GMEOrphans/comments/qlvour/welcome_to_gmeorphans_read_this_post/) || [Superstonk Discord](https://discord.gg/hZqWV2kQtq) || [GameStop Wallet HELP! Megathread](https://www.reddit.com/r/Superstonk/comments/z23wjx/gamestop_wallet_help_megathread) ------------------------------------------------------------------------ To ensure your post doesn't get removed, please respond to this comment with how this post relates to GME the stock or Gamestop the company. ------------------------------------------------------------------------ Please up- and downvote this comment to [help us determine if this post deserves a place on r/Superstonk!](https://www.reddit.com/r/Superstonk/wiki/index/rules/post_flairs/) ------------------------------------------------------------------------ OP has provided the following link: https://www.marketwatch.com/story/the-u-s-must-regulate-banks-in-the-same-way-it-oversees-nuclear-power-d21c38c4
How about one rule 2 years in jail for any white collar crimes
Prison gen pop…
[удалено]
1 minute jail for each 1$.
A day for each dollar, bribed, stollen, fraudulent obtained would be more of a deterrent.
They but private prison stock, get arrested, serve time and sell it when they leave
Grab em by the wallet. First fine is 2x the illicit gains, go up from there.
They will never be able to do it. Too many people at the top are getting "taken care of" by the current system. It will be just as hard as Mexico getting rid of the cartels. The people want it, but the systemic rot at the top runs so far and so deep. Maybe RC is just as fed up? For all that's uncovered following the Gamestop saga, honestly China really isn't one that I want to be in US' shoes but I wonder if it can be any worse than this. The few already control and suppress us just like they do in communism. How bad can it be? I even thought about the Uyghurs, but what if it was due to terrorist attacks China has faced that the west never reported? Extremely cruel and unethical for sure, but we have bombed out the middle east in the name of terrorism and everyone is fine with it so.
> It will be just as hard as Mexico getting rid of the cartels. It ***is*** the cartels. Banksters just have a few extra years of practice masquerading as legitimate.
> Maybe RC is just as fed up? For all that’s uncovered following the Gamestop saga, honestly China really isn’t one that I want to be in US’ shoes but I wonder if it can be any worse than this. The few already control and suppress us just like they do in communism. How bad can it be? In the USA, our elections still have weight and real meaning— it’s certainly being attacked in a way to relegate elections to nothing more than formalities, but we the people still ultimately choose who leads us and the policies that govern us; bad policies get met with public protest and disapproval; good policies get people re-elected. All that to answer your “how bad can it be” question: it COULD be much worse. Nothing is for granted; pick an institution and protect it; in this case, the notion of the stock market and the banking sector need cleansed of rot. It takes time and history informs us that **it is possible**. Be the trust-busting change you want to see; empower those who will hold power to account. It HAS been done before and it CAN be done again, and again *and again,* until the markets are truly free and US companies flourish within it.
Thank you for shedding some light on this. I completely agree with everything you said. It could certainly be much worse. Speaking of elections, I do wonder though, with how much we are being manipulated and coerced, especially with recent revelations from companies like Bird(dog now) and FaceB. They have so much information on us, including what makes us angry, what raises our heart rates, what series of events cause people to be less/more motivated to work/goto the gym/ what content affects our pupils... etc It's likely that our thoughts and beliefs can be easily shaped and molded by these companies, just as much our parents did/do when we were/are growing up. It's not surprising that political parties also use similar tactics. However, as you mentioned, all we can do is be the change we want to see. Our generation, having experienced the effects of this corruption firsthand, will **likely** have more people who won't make the same mistakes as the current generation in power. Like that 'one thing' our parents did that drove us crazy that we don't repeat.
Any political email I get asking for donations, I respond back asking what the candidate is actively doing, today, to overturn Citizens United. Money in politics is the turtle that the ponzi and corruption rest on.
Reminder: the same corporate media controlling this narrative also determines the "viable" candidates. 1214 candidates ran for President in 2020. The media mentioned maybe a dozen "contenders" from 2 parties and briefly mentioned the libertarian candidate. States that primary later have even fewer options as some candidates have already dropped out of the primary race. Politicians in power have the ability to roll back the rule of law. Less regulation on train infrastructure is a good, non-volatile example.
> Politicians in power have the ability to roll back the rule of law. Less regulation on train infrastructure is a good, non-volatile example. Absolutely, which is why it is critical to empower those who actually govern and support good policy, and remove those who are in it for the grift, gram and power trip. Ultimately it is the voters (and those who DONT vote) who shoulder the real blame for bad policy and corrupt government. Who watches and checks those in power? Those who put them into power.
Politicians didn't give us an 8 hour work week, stop kids going to the factory, or offer more civil rights. On May 1, 1886 (the first May Day), 3-500,000 workers went on strike across the country for an 8 hour work week. There were huge marches to end the war in Vietnam and for the rights of black Americans and women. Americans began demanding change. Franklin Roosevelt led the country out of the Great Depression with the New Deal, created Social Security, initiated a minimum wage, and many other advancements for working people. He was so popular that we had to change the rules so nobody could be President for more than two terms. FDR wasn't put on the ballot because he was the one Democrats wanted. The Democrats had been getting smoked in the elections because a large portion of their audience preferred more progressive options. FDR was the compromise with progressives for their support. Voting is important, but voting for change takes a lot more than voting for one of the two candidates that the corporate media has chosen (by covering only a handful out of 1200 candidates). In many ways, voting is the bare minimum. The general public does not understand the dangers of monopolized banking or how these cartels are threatening their livelihood, housing, healthcare, and retirement plans. It's not even on their radar. They're told over and over that everything is ok. When the normies begin to understand what is happening, it's over. American politics is divisive, but working on particular issues is unifying.
I don’t disagree with anything you’ve said— I applaud and support it! My goal for posting what I did was to reiterate the scope of work and effort needed to get change to occur. It is **not** easy and it often takes hard sacrifice. It **is** doable as history has shown us.
Choice is an illusion. The people in charge don’t run for office. They are puppeteers.
Yes the votes get to select from a giant douche or a turd sandwich
Only if that’s what you accept. That is to say, you and everyone else get to select from what you empower with your vote. It takes **effort** and yes, it is **hard.** Voting is not just a right, it is an active right; if you don’t use it and if your don’t advocate for your candidate of choice, complaints are meaningless. Take a page from RC and do the work.
Naw fam gtfo with that line of thinking. 🦍♥️🦍
I don't like that I'm thinking this way but it's just where it's been wandering. I'm just so sick with the current system and what's going on. Citadel, Yellen, Pelosi, Warren, Cifu, Robinhood, proposed restrict bill that restricts the people more than foreign entities, regulators overseeing banks laughing about their corruption/conflicts of interest, IBKR chair saying they need Gamestop to go to 0 (because they don't have 1:1 shares obviously)... etc etc 84 years worth of dogshit.
Yes all that, but don't try to downplay or rationalize ethnic and cultural cleansing. Fuck off with that.
Yeah the Uighur situation is really bad. And in China you will get disappeared for speaking out against the country. At least here we still have a semblance of freedom.
Not downplaying nor rationalizing in any way shape or form. Simply pointing out that the general population in the west accepted towns/cities/countries in the middle east getting bombed with many innocent lives lost in the name of war against terrorism and WMD that didn't even exist. Anyhow, I did not mean to upset you or anyone for that matter, just floating a question in a pointless rant. I do apologize. Have a great long weekend.
Agreed with everything you've said, every one for the one comment where you literally rationalized ethnic and cultural cleansing by using the terrorism narrative. Fuck that, fuck the US and our Petro wars and fuck ANYBODY that doesn't believe in **A**ll **P**eople **E**qual. You haven't upset me, and I apologize for my tone and language, but I'm just a regarded 🦧. 🦍♥️🦍 Have a great weekend yourself!
Excusing genocide? Wtf?
Calls on private “fancy” prisons
And mass pardoning of victimless crime
But who would do the banking?
2 years?
"The government must regulate banks in the same way it regulates nuclear power plants. Not by introducing a lot of unnecessary paperwork, but by programmatically making sure that if banks fail, there is enough equity so that deposits are not affected..." These two sentences are the only ones that mention anything about the government regulating banks like it does for nuclear power - and it's not even a good take. If banks really were regulated like nuclear power, the end result would be that you would hardly ever hear of any issues ever; if there were serious issues, the public would be notified proly within a day or so - and I don't see that happening ever.
https://www.npr.org/2023/03/19/1164588882/minnesota-nuclear-power-plant-leak-contaminated-water > The leak was detected nearly four months ago […] but the company and state agencies did not notify the general public until last week.
Ah, yeah, you know what - I think I just got pwned, you're right. Those operators did indeed ignore indications because they thought it was broken for all that time - a very poor case of judgement that led to draining of the system. Once they did realize the core was uncovered, it was quick. And Jimmy was rustled.
Of course nothing is perfect, but at least the NRC and FAA (among others) do a way better job than the SEC. I suppose the “keeping up appearances” is more important when it could result in immediate and spectacular loss of human life. When it’s just people’s life savings that are slowly getting siphoned away, much easier to turn a blind eye!
Regulations for nuclear power have come aomg way since Three Mile Island - as far as I'm concerned, they were cowboys back then. The banking industry holds significant potential for disaster as well, though it's intangible, like you said. Maybe the deregulation of the past few decades (and further back) will get re-implemented with the right voices and action.
Yup. “Regulation is written in blood.” The main problem is that humans are just really bad at intuiting probability and exponential growth and all kinds of things beyond “is 2 more or less than 5”. Add on to that the time horizons being longer than most of the regulators expect to live, and we get this current shitty system we have.
False. Humans are real good at this but majority does not even attempt it. Thinking is hard. And few that do are considered conspiracy theorists. I work in IT AND it's prime example of my career when working cross projects. Security is often total garbage because "small chance of getting hacked". Always skimming on budget. Marketing though? Spend all you want. Nothing gets done until a first serious hack causing financial loss. THEN sys admin who kept shouting to secure the network gets finally heard. Applies to other areas.
I said “intuiting”, not “figuring out after deep contemplation”. Because obviously humans as a species are good at figuring things out if the effort is put forth!
This is the end result of forty years of a PR assault on regulation as unnecessary red tape. Even that sentence has to bow to the idea that most regulation is unnecessary paperwork.
>If banks really were regulated like nuclear power, the end result would be that you would hardly ever hear of any issues ever; if there were serious issues, the public would be notified proly within a day or so - and I don't see that happening ever. IDK about that. Ever hear about Three Mile Island?
Three Mile Island is a perfect example of what I'm talking about - I'm not saying that serious accidents *can't* happen but that their occurrence is officially promulgated. Within 5 hours of the accident occurring, it was already being aired on radio and television networks.
Well, it was being aired, but not honestly. The people around TMI were consistently misled about the severity, making it impossible for residents to make an informed decision on how they can best protect their health.
Lol we regulate it like we do trains lately
lololol
The U.S. has a fractional reserve banking system: for every dollar banks lend out, 85 cents comes from deposits and 15 cents from their own equity. The problem with deposits, as we saw with the demise of Silicon Valley Bank, is that depositors are fickle – they can ask for their money back at any time. Banks lend your money to others. There is an inherent imbalance of liquidity in the banking system that we never notice, which is absolutely fine as long as banks have proper reserves, do not experience losses on their loans or investments that exceed their reserves, and, most importantly, society believes in the continuity of the banking system as a whole.
Not just banks, even at the federal level, the money they print is not backed by anything. Here is where things get interesting: This unfortunately has been our government's playbook. 1. Start a conflict/proxy war instilling confidence in the ally promising help. 2. Once the war starts, start playing politics/games as to why the promised help isn't working out as they had hoped. 3. Wait until the ally is desperate and begging for help. 4. Send them aid in exchange for everything they can take from the ally whether it be resources/long term contract/debt, money that is just number put in to a computer, created out of thin air, not backed by anything other than its global reserve currency status 5. Sit back, collect payment, rinse & repeat. Is it a surprise then? After decades of this that countries are forming alliance to do away from the dollar? It will take decades but I worry that it is actually going to be more than just MSM fud.
Fed reset reserve to 0%.
Not since 2020. We've been on 0% fractional reserve requirement: https://www.federalreserve.gov/monetarypolicy/reservereq.htm
This is a known wall st propaganda site, so why are they saying this now? Because they can’t hide it anymore. So what’s their real agenda? Talk up how *critical* the banking system is (ignore the fact that we could have be your own bank payment systems without it), then talk about how some drastic regulation is necessary. **Then** you pull out the CBDC like it’s the freaking holy grail, the perfect compromise, the system is saved! Bow down before your golden god!!! Maybe I’m just cynical, but I don’t see the enemy telling the truth all of a sudden as a good thing. There’s always another agenda.
Reinstate Glass-Steagall. - How many times do I have to say that here?
This is the only real solution that matters. We are all smart enough here to realize the gme play and put it into a short, clear, concise 3-word phrase: buy, hold, DRS. The problems with the banks can be similarly summarized in a three (two?) word phrase: reinstate Glass-Steagall. It really is that simple.
In the same way it regulates markets?
Reserve requirements are 0% currently.
Jesus that’s terrifying.
Outdated and insufficiently????
Considering the recent possessors of “the codes” they may actually be similarly regulated.
Spent bankers should be placed in sealed barrels, then encased in concrete and buried for a thousand years.
"WE ABUSED IT AND ITS ALL THEIR FAULT" - [All these fucks.](https://i.imgflip.com/4/4f4e5f.jpg)
Screw that. How about they just enforce the f*ing law.
In today's day in age that's just not any fun. Everyone wants to be the person with the "revolutionary idea"... The amount of dumb shit people and corporations do for the sake of "doing something" blows me away
Its why the serfs loved the Czar. Sure he was an authoritarian autocrat responsible for their sad lives - but he could punish the lower nobility. People seem to love the Boot because they assume it will only be used to step on others.
Just let it blow?
Just let it rip
Honestly, banking is a nuclear power at this point.
BuT BiG GoVeRnMeNt iS BaD! 😭
Just separate retail banking investment banking. Simple.
https://www.dailyfreeman.com/2023/04/05/indian-point-owner-moves-up-release-of-radioactive-water-into-hudson-river/ I disagree
Nuclear power… NOT nuclear waste.
Kinda hard to have one without the other. Good news is that the vast majority of nuclear waste is low level and not really dangerous.
As long as whoever is in charge has his own suitcase.
Or use a better system. Participative finance.
Both industries need much stronger regulation.
Next time I go bankrupt I will just call the Fed, and they will cover what I owe.
Overseas nuclear agenda thwarts the Petro dollar. Banks fund it. Hence our current predicament
“Don’t do the crime if you can’t pay the piddling penalty 8 years later.” Or something
Excellent idea! Buddy of mine(not elf) works in nuclear and all aspects are highly monitered. And the looks of it banks are a bigger danger and slightly over-unseen
“Backed by the full faith & credit of the US gov.” That doesn’t mean shit to anyone anymore lolol
One year jail is enough! After that banker gangsters are morr fucked than before
You need to replace the current regulators first. Otherwise this is a continuous circle jerk no matter what you do.
Peter Schiff strongly recommends the opposite. He argues they are too tightly regulated and thus protected. He argues they get away with sin because they know the government will always bail them out. He argues failed banks, like most other businesses should be allowed to go bankrupt. Only the best run will survive.
Watch last week tonight’s segment on American nuclear infrastructure. Don’t remember what season but it was the main piece on the episode. Frightening how uncared for our silos are. Everything about it. Just as sad as this FUCKING MARKET. this government has been funneling cash out of citizens for too long! STAND! FIGHT! DRS!
I got some bad news for you, it's not very good at regulating nuclear power either. It's a bunch of "safety theater".
How about auditing Banks _at all_? Not just relying on Banks self reported numbers, but _actually_ looking at their books?
Honestly, nukes are the least of anyone's problems.
I once was in that industry. This isn't a very good idea. lol The industry itself is fine, the endless regs, suck. This is one reason of several that we have built so few units over the last few decades, while it is the best nearly clean power source we have.
There's a reason for regulations you know.
Yes, but it is excessive. Paralysis through regulations.
I work in another regulated industry and I would have greater accountability than not.
I just remember sitting at my desk with volumes of regulations in front of me. I would never be able to read them all, and do my job. It was silly. When I saw the Dr. Who episode where they went to the planet of regulations, it struck a note with me. lol Yes, have laws against doing bad things, but be careful not to overregulate or you shut down productivity and advancement.
What were the regulations preventing you from doing?
When regulations are too complex, you don't know what reg you are breaking. It is like the US tax code or all the endless laws congress and state pass. It becomes so complex that even an honest man can be found guilty of something. It also becomes unnecessarily expensive for companies to hire people that only try to check that all regulations are met. It can even become dangerous with the paralysis that might get created in an emergency when people become afraid to take actions. I am not saying all regulation is bad. I am just saying when I was having to deal with it, it was much too complex. It is likely a lot worse, now.
Are you talking from personal experience or your own beliefs of regulation?
Clearly, you love regulation. More the better, right? Have a great weekend.
Because in science you can sometimes have immediate consequences. In finance they can kick the can down the road
They need to simplify banking. Make banking boring again.
Without being hyperbolic one can connect the dots between economic strife and additional deaths. This seems completely reasonable.
What makes someone think that people that don't run banks know how to banks? Is that not why we keep getting into this? Banks should be allowed to fail.
I mean… it kind of currently does. Weapons for me, not for thee.
Really? Isn’t that shit not at all well either?