Personally, if I had the authority of the government to print money, I would find it easy not to go bankrupt.
Do central banks’ mounting losses actually matter?
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Re: Do central banks’ mounting losses actually matter?
#12Hard not to bring up the usefulness of crypto in times like these...
Aren't we all losing enough money already?
Re: Do central banks’ mounting losses actually matter?
#13Hard not to bring up the usefulness of crypto in times like these...
Nothing?
Re: Do central banks’ mounting losses actually matter?
#14Re: Do central banks’ mounting losses actually matter?
#15Personally, if I had the authority of the government to print money, I would find it easy not to go bankrupt.
That's not how money works. In fact, that's a good way to accelerate a trajectory towards bankruptcy.
Re: Do central banks’ mounting losses actually matter?
#16They don't go bankrupt in the conventional sense.
When they go bankrupt economists like to use the term "Hyper Inflation".
This means that the currency they produce becomes worthless.
Re: Do central banks’ mounting losses actually matter?
#17This feels like being a passenger in a speeding car while the driver appears to be starting to lose control.
In Russia it feels like being a passenger in a hijacked plane flying towards tall buildings.
Does it, within Russia? Are you saying that as a person within Russia or an external observer? I feel like externally, the west feels like Russia is headed to certain doom, but a majority of Russians feels like they'll be fine and they're sticking it to the colonial west.
Re: Do central banks’ mounting losses actually matter?
#18Don't be fooled, the central in "Central Banking" is about decision making power and profit. The losses are all distributed.
Was there ever a year when FED actually lost money?
Re: Do central banks’ mounting losses actually matter?
#19“Control the coinage and the courts. Let the rabble have the rest.” - Frank Herbert, Dune
Anyone wanting to have even a hope of understanding central banking globally should read Nomi Prins "Collusion". It's pretty dense, but it explains things like inter-central bank currency swaps, which might be relevant today:
> "The following day, on June 24 [2016], just after the Brexit results were tallied, the Fed said that it stood ready to provide dollars to other central banks via the swap lines set up during the 2008 financial crisis to reduce financial market turbulence. This was ostensibly to counter the instability the vote results initiated and concerns about shortages of dollar liquidity in many places, especially Japan."
> "But it also signaled something else: that central banks would use their money-conjuring tools whenever there was a shock to the system - even if that shock appeared to be a political one - to assuage any market or currency moves that might result." p169
Re: Do central banks’ mounting losses actually matter?
#20Hard not to bring up the usefulness of crypto in times like these...
All of the currencies I know of that suffered hyperinflation this year were cryptos.