tag:blogger.com,1999:blog-6089228851855763774.post2971943958736889147..comments2024-02-05T17:24:09.663+08:00Comments on Gold Chat: Public interest in private actionsBron Sucheckihttp://www.blogger.com/profile/00530576934994289879noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-6089228851855763774.post-9812717365762621232008-10-01T21:35:00.000+08:002008-10-01T21:35:00.000+08:00It is a balancing act between public and private, ...It is a balancing act between public and private, so I suppose a solution is to allow some special people to have a look what is going on behind the veil and let everyone else know if it is OK.<BR/><BR/>Wait a minute, we already did that, they are called auditors and regulators. Looks like they have been asleep on the job in the US.<BR/><BR/>Question is do we trust the Australian regulators when they tells us the Aussie banks are OK?Bron Sucheckihttps://www.blogger.com/profile/00530576934994289879noreply@blogger.comtag:blogger.com,1999:blog-6089228851855763774.post-28945193332547530992008-10-01T21:23:00.000+08:002008-10-01T21:23:00.000+08:00But if you can see someone's financial position th...But if you can see someone's financial position then you can see how they are vulnerable, and act to exploit it. Just ask Eddie Groves at ABC, or the other CEO's with margined shares. <BR/><BR/>In a non-limits poker game, if you know someone's betting stake you can win if you can bid a little more than they can match!<BR/><BR/>Sometimes a veil evens things up and keeps people "honest".<BR/><BR/>Disasters in modern commercial societies, particularly in the century prior to 1906, were instead due to the banking system first loosening then tightening credit -- and that power only comes to banks because government allowed them to practice fractional reserve banking. Creating money out of nothing is the source of all instability!Anonymousnoreply@blogger.com