Reserve Bank of India

India's new central bank governor has raised key interest rates by a quarter of a percentage point

in an attempt to reduce inflation.

The repo rate - the rate at which the central bank lends to commercial banks -

was raised from 7.25% to 7.50%.

The cash reserve ratio - the percentage of banks' deposits they must keep in cash -

has been kept unchanged....

well then jetchim..you know the story.  there is no way to maintain a proper economy with a privately owned central bank in place ruining things.

in this day and age no central bank of any kind is necessary.  no central banks and no big commercial banks.

we need to take the private out of banks and reduce them to community level owned by the people..their functions entirely defined by community needs

Community banks get gobbled up by these monster private banks.

All those trade union banks, teachers banks , greek community banks are all history .

Trust companies are now a thing of the past as well !

what do you think of this then Ketchim ::confused::

This dude is from the IMF and  J P Morgan. Indian economy is doomed with him at the helm

of course..because all the rules are written in favour of the big banks.  they have huge fractional reserves..what is their ratio now..1:1000 or is it unlimited.  they can create money to their hearts content now..just write paper ::confused::

but I am talking about revolutionary change.  no bank or corporation of any kind is too big to fail to me.  and I am not talking about waiting for them to fail.  I am talking about killing them all..outright!...NOW! and allowing community banking to grow in their place...not alongside them between their toes

Mapoui , I was talking about that in Calgary recently !

Varied opinion from the high finance fellahs present was that they are managing well

My sister bluntly told me they (AIG )  had paid back the bail out money with a HUGE amount of

interest the Guvment nailed them with !

My brother is of the opinion that the credit default swaps has now been exposed and it is

under Control.

seems like all is well in the banking world 

not necessarily ...these Folks are coming up with excellent Finance models ;

that MAY work !

interesting!  but how do you dry up, contain, resolve or eliminate a problem, a debt and loss market, that is many times bigger than the entire GDP of planet earth?

and where did AIG is it.....get money, profits from which to repay the bailout at interest ::confused::

they have audited and verifiable balance sheets to demonstrate the veracity of such profit...that it is real profit not make-believe..or a figment of Bernanke's printing machines!

hahaha...On Jeopardy ! last night , the American contestants did NOT know who :

Ben Bernanke is ....i was shocked !  ::LOL::