Indian Education: Actually Terrible !!! 1766

On Wed, 26 Jul 2006, Old Pif

He said "aka money supply..." but I think that he thinks the Fed just prints money whenever it feels like, which is untrue. Although I've explained it many times, the money supply expands primarily through fractional reserve banking which is explained in any (all that I've seen anyway) banking book. As I found out, money is a lot more complicated than how many dollars you have in your left pocket plus how many dollars you have in your right pocket. And, our whole monetary system is a big kludge, worldwide. I have the idea that economists have a poorer understanding of money than the bankers and I also have the idea that if you study banking and banking data, you'll have a better idea of what makes the world go around (because it don't go around unless someone comes up with money, and you need to primarily need to see where the money is coming from and where it is going to undestand what is going on and the economists are up on various dream clouds with abstract ideas but the bankers all just need to have little or big numbers in spreadsheet boxes just match up with other little or big numbers in other spreadsheets (Enron accounting to be excluded from legit consideration, but could be a substantial part of what an honest and honorable person might complain about). Read Eduard Griffin's book "The Creature from Jekyll Island" (best book of any that I've read in 20-25 years). And, I'll also confess that what I've learned about money by reading several books is that I've learned, primarily, that even after I've read what I've read, I know a lot less than I thought there was to know. I asked my banker (who is a branch manager all his 45 years of banking) stuff that he couldn't answer.

I think a lot of people use the word "liquidity" without knowing what it means and he is one of them. He must think its "cool" to throw words around that are abstract instead of words (like money supply) that are easier to understand.

Home price movement? I wonder if KP understands how much market psychology (alone) drives prices? He seems to be totally unaware of the India stock market crash of about a month ago. And, last time they printed its recovery, its recovered only to about half of what it was before the crash.

Wanna make a lot of money? I think it a lot better to learn how the thieves and crooks manage to steal money legally than to play the investor game.