tag:blogger.com,1999:blog-5882645467378797266.post3320220178038759145..comments2023-07-17T11:55:51.363+02:00Comments on ObservingGreece: At Some Point Germans May Discover That They Are In Deep Troublekleinguthttp://www.blogger.com/profile/12491174042954678023noreply@blogger.comBlogger11125tag:blogger.com,1999:blog-5882645467378797266.post-36559609282617523422018-06-17T17:19:36.106+02:002018-06-17T17:19:36.106+02:00Dear Klaus Kastner, I am not necessarily a fan of ...Dear Klaus Kastner, I am not necessarily a fan of The Saker, but admittedly I found Pepe Escobar an interesting voice in the early post 9/11 universe. And yes strictly on the blog I follow there was an early reference to Syria from someone I find one of the more, although more rare too, contributors. At one point in time he mentioned in the comment section that China may be poised (?) to help rebuilding in Syria. The Piraeus Port port surfaces too in passing in Escobar's narrative. We stumbled across it here too. The interview shifts to English after a while.<br /><br />Strictly China, always take my comments with a grain of salt, but China too seems to have his own inner Turkmen problem. As Russia. Chechnya? Some Turkmen were rumored to fight in Syria. ...<br /><br />http://thesaker.is/interview-of-pepe-escobar-the-world-is-waiting-for-the-apocalypse-if-there-is-a-conflict-between-america-and-russia/<br /><br />Glass Seagall?<br />http://turcopolier.typepad.com/sic_semper_tyrannis/2018/06/harper-happy-anniversary-glass-steagall-we-miss-you-come-back.html<br /><br />Strictly, I have to admit, Trump's approach sounds like a variation of the old trickle down theory. Some more polite ennobled members in the leverage investment camp seem to have come to the conclusion it may not work anymore quite a while ago.<br /><br />LeaNder, the nitwit babbler<br /><br /><br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-25167941996713527512018-06-13T17:26:07.741+02:002018-06-13T17:26:07.741+02:00Sorry, Klaus for my unrelated diatribe above.
I g...Sorry, Klaus for my unrelated diatribe above.<br /><br />I get emotional sometimes, I wish I didn't, but yes lately I seem to respond like a Pavlovian Dog, here too. ... <br /><br />Concerning my second comment. I am beyond relaxing on the idea of being a nobody in this brave new universe. ...<br /><br />LeaNderAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-86075055208891022602018-06-12T08:10:46.899+02:002018-06-12T08:10:46.899+02:00King's proposal is totally unrelated to the Vo...King's proposal is totally unrelated to the Vollgeld Initiative. He wrote a book after leaving office; he obviously intended to make historical proposals in that book and the result was the above proposal. One can obviously raise the question whether Central Banks can be efficient administrators of collateral appraisal, valuation, etc. etc. But the ECB is doing it already with ELA.kleinguthttps://www.blogger.com/profile/12491174042954678023noreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-60682779349145048842018-06-11T17:13:18.882+02:002018-06-11T17:13:18.882+02:00Thank you for the comment.
In "The End of Al...Thank you for the comment.<br /><br />In "The End of Alchemy" Mervyn King is writing about the definition of "good collateral" and Walter Bagehot in the crisis of 1866 (lender of last resort)<br /><br />"Banks are very different from banks in Bagehot’s time (...) They are bigger, their assets are more complex and difficult to value, they hold far fewer liquid assets, they finance themselves with far less equity capital, and they wield greater political power.<br />As a result, the maxim ‘lend freely against good collateral at a penalty rate’ is outdated (Bagehot approach) ."<br /><br />(...)"Until well into the post-war period, banks<br />held around 30 per cent of their assets in the form of government securities,most of them short-term and all of them liquid."<br /><br />What i can't understand is the motive for someone with deposit 1 mln CHF to "give" (the bank) a loan to someone with 10.000 CHF deposit, even with good collateral, if we accept that banks generally hold far fewer liquid assets even at 1% in total.<br /><br />Its like a closed box.<br /><br />Typically, in the initiative claim that 90% is electronic money and only 10% in circulation, so it is easy to find lines of credit for that 10%.<br /><br />This is probably a very complex issue, and my approach may be a general reference or simplification that does not touch the core of the issue.<br /><br />Mervyn King's approach about back up lines up to a year is related with the initiative approach or is independent and is implemented under current banking rules?<br /><br />It seems logical.<br /><br /><br /><br /><br /><br /><br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-76367228084471505862018-06-11T08:20:23.540+02:002018-06-11T08:20:23.540+02:00From the little I know about Vollgeld, it sounds t...From the little I know about Vollgeld, it sounds to me very much like a 'planned' financial system, i. e. the Central Bank determines how much money/credit the real economy needs. But I may be wrong. I think there are better ways to stabilize the financial system, the best one I have heard so far comes from the former governor of the Bank of England, Mervyn King.<br /><br />King proposes that banks should be required to have committed back-up lines from their respective Central Banks in the amount of their total liabilities up to 1 year. The Central Banks would require the banks to post enough eligible collateral as security for this line (similar to ELA, except it would have to be worthy collateral and not Greek bonds). That in itself would constrain banks in their expansion because they may not have sufficient eligible collateral.<br /><br />The point of this is that there cannot be a bank run and/or liquidity crisis of a bank: the bank's liquidity is safe for up to 1 year, and 1 year is enough time either to solve the bank's problems (if they can be solved) or to arrange an orderly liquidation.<br /><br />Add to that a reasonably conservative total leverage ratio (total liabilities to equity), say 5:1, and the banking system is totally stable. kleinguthttps://www.blogger.com/profile/12491174042954678023noreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-81935371855990214752018-06-10T15:28:23.022+02:002018-06-10T15:28:23.022+02:00kleingut, about Vollgeld initiative how logical it...kleingut, about Vollgeld initiative how logical it is?<br /><br />https://www.vollgeld-initiative.ch/english/<br /><br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-54175365708262078352018-06-09T17:37:26.371+02:002018-06-09T17:37:26.371+02:00Dear Stavros,
seems Google is targeting me lately...Dear Stavros,<br /><br />seems Google is targeting me lately among others, on the surface it looked as if it was Google. They even may be making it past my usual Firewalls. Resulting in oddities like Roger Griffin showing up in my usual search routine in my favorite University Library. Without me even entering a search term, that is. ...<br /><br />On the other hand seriously no library ever bought a copy of this publication?<br /><br />https://www.amazon.com/Russian-1920-1941-Oxford-Historical-Monographs/dp/0199250219<br /><br />You still owe me an answer, why as German, after all you address us collectively--"Dear Germans"--this is a must-read-book for me or us considered collectively?<br /><br />LeaNder<br /><br />LeaNderAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-70763512852982349902018-06-08T20:29:30.591+02:002018-06-08T20:29:30.591+02:00If the Germans sweat so much over Target2, why don...If the Germans sweat so much over Target2, why don't they send the money back to where they came from? Reducing their absurdly large current-account surplus would be such a way. That would also work as a fine recycling mechanism.Jim Sliphttps://www.blogger.com/profile/15325962115410722474noreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-50289801618724506402018-06-07T18:46:58.629+02:002018-06-07T18:46:58.629+02:00What would be your reply, Stavros, if we opted out...What would be your reply, Stavros, if we opted out of the initially purely economic and then later idealist project the EEC/EU? Never mind the devil always lies in the details on the respective unifying ground as far as idealist projects are concerned?<br /><br />E.g. what if we followed the Swiss option? Strictly, that would have been my favorite choice with 18. No rearmament beyond protection. How comes the subject has shifted to the right? For this elder this feels a bit odd. We only have to protect our borders concerning the "have nots" or driven away by war and struggles. ...<br /><br />Back to my above question, assuming we opted out, would we be a lesser or even bigger threat? You tell me? If the lesser, why don't you opt for Germany to leave the European union? From a group? Propose it?<br /><br />The rest of Europe would find a way to accommodate once the obstructionist Germans are out?<br /><br />Could you give me a nutshell of why you alert to Capar Hirschi's publication? Maybe I misunderstood. For what it is worth, I was highly interested in nationalism from early on. My favorite in the field is Roger Griffin.<br /><br />Anyway, I'll check reviews. Starting with this one.<br /><br />LeaNder<br /><br /><br />http://www.history.ac.uk/reviews/review/1281<br /><br />LeaNderAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-15302104406050327392018-06-05T16:54:51.183+02:002018-06-05T16:54:51.183+02:00At Some Point Germans May Discover That They Are I...<i>At Some Point Germans May Discover That They Are In Deep Trouble </i><br /><br />I have been aware for a long time. ...<br /><br />LeaNderAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5882645467378797266.post-81570355718725528832018-06-04T17:31:34.591+02:002018-06-04T17:31:34.591+02:00I have great difficulties...
You have great diffic...I have great difficulties...<br />You have great difficulties...<br />he;she;it has great difficulties..<br />we have great difficulties...<br />you have great difficulties...<br />they have great difficulties...<br /><br />Ok! The Breakup Blues: It's Over!<br /><br />Yes, We have read it in Spiegel and Handesblatt<br /><br />Ohhh!!! <br />Dear Germans (http://www.cambridge.org/gb/academic/subjects/history/european-history-after-1450/origins-nationalism-alternative-history-ancient-rome-early-modern-germany?format=PB)<br /><br />We understand you, but...<br /><br />"Fight the Problem, not the Person"S.K.https://www.blogger.com/profile/16049843199985216062noreply@blogger.com