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Too hot

There is a for-profit medical clinic near me where they told the workers that " we’re all just really cool and we love our jobs so we don’t take breaks" - they didn’t allow workers to take breaks as required by law so I created pamphlets about how to report and get compensation for wage theft and I passed them out on all the cars outside the clinic.

kind of interesting to look at a map and see everything in the drawing

Are there a lot of reputable sources that the U.S. was involved in La Violencia?

I’ve studied Colombian history as well as US involvement in South America and have not read about any connections.

Google search shows this but I’m not sure it’s a trustable source https://colombiareports.com/50-years-us-intervention-colombia/

Or maybe a hot dog bowl, it’s like a burrito bowl but it’s chopped up hot dogs in a big old bread bowl

So he was buying her gifts and putting money on her books and calling her on the phone? Prison guards fucking prisoners is like the worst crime, IMO

Dick and Jane went up the hill each with buckshot and a sawed-off

There’s a lot of wires but they aren’t twisted and tangled, they’re organized and run straight.

Maybe eat more hot dogs?

How long would it take to grow six teeth? 24 years?

I’ve had enough! I’m leaving then! 😂

Really interesting. I just read the Bank of England’s companion article: Money in the modern economy, an introduction https://www.bankofengland.co.uk/quarterly-bulletin/2014/q1/money-in-the-modern-economy-an-introduction

I didn’t consider that you could still classify banking as fractional reserve banking even though there are no fractional reserve banking requirements. In my mind the concept was one of regulatory oversight.

Do you think that when a bank loans money to another bank they are creating money out of thin air? If they can do that then why do they need to borrow money?

I think you’re doing a good job interpreting and explaining modern monetary theory, I just don’t agree with all of it, although I agree with the concept.

Do you believe that the US government must collect taxes before it can spend money? Or do you agree that government spending is self financed and money creation (in spending by the US government) is only limited by concerns of inflation?

Do you believe that Banks hold digital money in their reserves? I do. Who do you think created that money?

My Hero by Foo Fighters

You’re right that that article does talk about banks creating money and it’s true that banks can create money when they lend more than they have in reserves and assets. But my larger point was that IMO bank loans are credit but the bank loans are repaid with actual money. Maybe it’s semantics.

Also, you mentioned fractional reserve banking but that no longer exists. It ended around 2020 when the government changed regulations and no longer requires banks to hold any ratio of reserves to debt.

When a bank issues a loan it creates a credit in the borrower’s account. When the borrower withdraws/transfers the money from their account the money comes from the bank’s reserves. The bank’s reserves consists of deposits and other liquid assets. The money in the bank’s reserves started its life by being created by the federal government. You may argue that the bank is loaning money that it does not hold in reserves, but for lack of a better description, this is a huge liability for the bank that can create insolvency issues (bank run). For this reason, I do not agree that banks create money when they issue loans, since the bank’s reserves are not created by the bank.