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Stop the big 4 Banks' right to create money, page-2

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jantimot

30,924 Posts.

174

30/11/19

09:20

Post #: 41723523
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Originally posted by moorookamick: ↑

Our Big 4 should not be capable of lending money unless they have this money in their vaults.
10% cash of the loans is simply not enough and exposes the taxpayer to massive debts if the
economy goes pear shaped.

11 years post the GFC, Irish banks are slowly recovering from Government ownership at the cost of the taxpayer following the
bursting of the Celtic Tiger bubble.

IMO, only the RBA should create money, not a bunch of private banking cowboys who, over the past two years, have been proven to
be untrustworthy as evidenced by the Banking Royal Commission and subsequent events.

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Easy solution: remove the govt guarantee. Taxpayer no longer liable. Stupid idea in the first place.
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