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“The 2008 Financial Crisis was caused by a central banking system.”
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Discuss.
Personally I support a system of free banking as employed in Scotland until the 19th century.
Interested to see other peoples’ views on this idea.
Personally I support a system of free banking as employed in Scotland until the 19th century.
Interested to see other peoples’ views on this idea.
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#2
Yeah it was. But the prosperity of capitalism also relies on a central banking system, so it's worth it.
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#3
Regulation is what allows capital to collect too much in one place making financial crises possible.
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(Original post by DarthRoar)
Yeah it was. But the prosperity of capitalism also relies on a central banking system, so it's worth it.
Yeah it was. But the prosperity of capitalism also relies on a central banking system, so it's worth it.
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(Original post by DrMikeHuntHertz)
Regulation is what allows capital to collect too much in one place making financial crises possible.
Regulation is what allows capital to collect too much in one place making financial crises possible.
Have you read the ideas of the economist Ludwig Von Mises by chance?
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#6
why can't I borrow from the bank of england to get my mortgage rather than going through high street banks just for them to inflate the interest rate?
asking for a friend
asking for a friend
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(Original post by Harry123341)
why can't I borrow from the bank of england to get my mortgage rather than going through high street banks just for them to inflate the interest rate?
asking for a friend
why can't I borrow from the bank of england to get my mortgage rather than going through high street banks just for them to inflate the interest rate?
asking for a friend
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#8
cheers mate , secondly is this true
will there always have to be someone in debt in our system ?
as if the bank loans X amount if money and expects the business to pay back X + interest surely there isn't anymore money flowing than X therefore at least one business can't pay it back so someone is gonna have to be in debt?
this has been heavily debated in eccon at uni for a while ??
will there always have to be someone in debt in our system ?
as if the bank loans X amount if money and expects the business to pay back X + interest surely there isn't anymore money flowing than X therefore at least one business can't pay it back so someone is gonna have to be in debt?
this has been heavily debated in eccon at uni for a while ??
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(Original post by Harry123341)
cheers mate , secondly is this true
will there always have to be someone in debt in our system ?
as if the bank loans X amount if money and expects the business to pay back X + interest surely there isn't anymore money flowing than X therefore at least one business can't pay it back so someone is gonna have to be in debt?
this has been heavily debated in eccon at uni for a while ??
cheers mate , secondly is this true
will there always have to be someone in debt in our system ?
as if the bank loans X amount if money and expects the business to pay back X + interest surely there isn't anymore money flowing than X therefore at least one business can't pay it back so someone is gonna have to be in debt?
this has been heavily debated in eccon at uni for a while ??
I’m guessing you have a big interest in economics then? Do you have an interest in the political side of economics and if so, which school of thought do you subscribe to?
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#10
well , now don't mock me for this , I did business at A level and when we did the eccon side of things , just the way the system was built seemed to me , like it was designer to **** people up a bit and lead the rich to prosper a bit but that's more socio ecconmics deprivation and politics but at uni I only do it as a club I actually study the built enviornment as my degree
and in terms of my school of thought what are my options , I'm aware of treakle down ecconmics which I really don't subscribe to , polticaly I would say I'm left leaning although jezza corbyn looses me when he is weak surrounding immigration and the EU but without sounding like an entitled SJW socialist Thersea May and her attitudes make me feel ill
and in terms of my school of thought what are my options , I'm aware of treakle down ecconmics which I really don't subscribe to , polticaly I would say I'm left leaning although jezza corbyn looses me when he is weak surrounding immigration and the EU but without sounding like an entitled SJW socialist Thersea May and her attitudes make me feel ill
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#11
(Original post by Connor27)
I firmly agree, and the existence of a central bank is one of the biggest types of financial regulation there is.
Have you read the ideas of the economist Ludwig Von Mises by chance?
I firmly agree, and the existence of a central bank is one of the biggest types of financial regulation there is.
Have you read the ideas of the economist Ludwig Von Mises by chance?
I really should get around to reading his stuff.
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#12
(Original post by Connor27)
Discuss.
Personally I support a system of free banking as employed in Scotland until the 19th century.
Interested to see other peoples’ views on this idea.
Discuss.
Personally I support a system of free banking as employed in Scotland until the 19th century.
Interested to see other peoples’ views on this idea.
If you think extreme free market capitalism is desirable then fine, but people should stop pretending that it doesn't also have huge drawbacks. Namely that it very nearly brought the world's economy down, were it not for the bailouts.
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#13
(Original post by DeBruyne18)
It was a crash caused by free market capitalism and deregulation.
It was a crash caused by free market capitalism and deregulation.
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#14
I have no difficulty believing central banks cause problems but I struggle to imagine a free market of money being better.
Don't get me wrong, capitalism is great but a little bit of government regulation and intervention here and there is needed, a mon avis.
Don't get me wrong, capitalism is great but a little bit of government regulation and intervention here and there is needed, a mon avis.
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(Original post by HoldThisL)
I have no difficulty believing central banks cause problems but I struggle to imagine a free market of money being better.
Don't get me wrong, capitalism is great but a little bit of government regulation and intervention here and there is needed, a mon avis.
I have no difficulty believing central banks cause problems but I struggle to imagine a free market of money being better.
Don't get me wrong, capitalism is great but a little bit of government regulation and intervention here and there is needed, a mon avis.
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#16
(Original post by Connor27)
A stranglehold and complete monopoly on interest rates by a nationalised entity is more than just a little regulation, don’t you think?
A stranglehold and complete monopoly on interest rates by a nationalised entity is more than just a little regulation, don’t you think?
In the short term, at least, the lack of certainty in market-provided currency/money would surely end badly.
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#17
(Original post by HoldThisL)
I have no difficulty believing central banks cause problems but I struggle to imagine a free market of money being better.
Don't get me wrong, capitalism is great but a little bit of government regulation and intervention here and there is needed, a mon avis.
I have no difficulty believing central banks cause problems but I struggle to imagine a free market of money being better.
Don't get me wrong, capitalism is great but a little bit of government regulation and intervention here and there is needed, a mon avis.
So far it seems to end badly every time its tried.
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#18
And who would you rather trust with the powers of the central banks? The markets? I think not 
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(Original post by Napp)
And who would you rather trust with the powers of the central banks? The markets? I think not
And who would you rather trust with the powers of the central banks? The markets? I think not
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#20
(Original post by Connor27)
The individual banks, that’s what we did until the late 19th/early 20th century throughout the western world and it worked just fine.
The individual banks, that’s what we did until the late 19th/early 20th century throughout the western world and it worked just fine.
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