Message from @Orson Krennic

Discord ID: 640280455870021632


2019-11-02 19:58:46 UTC  

That cant be ignored

2019-11-02 19:58:48 UTC  

@Asdrubal Finances are just made up numbers. If it collapsed we’d mutually agree to reset financial relations with each other and outlaw anyone who didn’t want to, then we would survive, the outlaws would collapse further, we would take over the outlaws, and the cycle would continue.

2019-11-02 19:58:48 UTC  

And just live in some hedonism

2019-11-02 19:58:55 UTC  

^

2019-11-02 19:58:58 UTC  

TBTF

2019-11-02 19:59:05 UTC  

Too big to fail

2019-11-02 19:59:12 UTC  

Same thing happened in 08 buddy

2019-11-02 19:59:42 UTC  

*god you are ignorant*

2019-11-02 19:59:45 UTC  

Government causes recessions and then tries to do a shitty job picking up after themselves

2019-11-02 20:00:44 UTC  

At the end of the day the financial institutions care marginally more about survival than profits. If they are about to die, they will attempt to survive. You talk like you think financial institutions have firmly held ideals and beliefs.

2019-11-02 20:01:12 UTC  

So you believe Deutsche bank will survive?

2019-11-02 20:01:14 UTC  

Also the Fed basically ensures that there cannot be a universal financial meltdown. Them and the FDIC

2019-11-02 20:01:19 UTC  

at least in the USA

2019-11-02 20:02:00 UTC  

I believe the financial institution as a whole will, some will die due to incompetence, and others will take their place. @Asdrubal

2019-11-02 20:02:06 UTC  

*DB has 49 trillion dollars or 43.5 trillion euros in unpaid derivatives*

2019-11-02 20:02:26 UTC  

*the US has over 200 trillion dollars in unfunded liabilities*

2019-11-02 20:04:07 UTC  

It wouldn't matter

2019-11-02 20:04:27 UTC  

The Fed can control money supply in the USA which is all that matters

2019-11-02 20:04:37 UTC  

There cannot feasibly be a total financial meltdown in the USA

2019-11-02 20:05:38 UTC  

If we really wanted to we could reject any owed debts as a nation and the world would just have to eat it.

2019-11-02 20:05:56 UTC  

Defaults

2019-11-02 20:06:05 UTC  

But realistically we’ll just have an unlimited debt ceiling.

2019-11-02 20:06:18 UTC  

It’s the most diplomatic thing to do.

2019-11-02 20:06:22 UTC  

And since we have a fiduciary monetary system we'd be fine

2019-11-02 20:06:33 UTC  

FDIC would insure deposits for most Americans

2019-11-02 20:07:45 UTC  

I mean, a little inflation might occur if they pay out, but not any major issues if we handle it correctly. @Orson Krennic

2019-11-02 20:08:40 UTC  

The Fed would curb inflation quickly in this scenario

2019-11-02 20:08:54 UTC  

If the global market just like died

2019-11-02 20:09:03 UTC  

And our major financial institutions filed chapter 11

2019-11-02 20:09:07 UTC  

They'd be bailed out

2019-11-02 20:09:17 UTC  

Discount rate would go down to 0

2019-11-02 20:09:35 UTC  

It would be 2008 but take longer to get out of

2019-11-02 20:09:40 UTC  

But the system would survive

2019-11-02 20:10:03 UTC  

The only thing that can kill the system is a firesale

2019-11-02 20:12:25 UTC  

@Orson Krennic And of course that’s what bailouts are made to prevent.

2019-11-02 20:12:40 UTC  

Right

2019-11-02 20:12:53 UTC  

You cannot kill the US finance system

2019-11-02 20:13:19 UTC  

Because

2019-11-02 20:13:22 UTC  

You can't kill America

2019-11-02 20:13:25 UTC  

Rather, you could, but it’s entirely unrealistic.

2019-11-02 20:13:39 UTC  

Right, the only thing that could do it is a firesale attack