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Liberty News ForumLNF Forums HereEconomics, Financial News › - should there be free market interest rates without the Fed setting it?
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- should there be free market interest rates without the Fed setting it?
Apr 6th, 2016 at 3:13am
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- should there be free market interest rates without the Fed setting the rates or influencing it? - why aren't rates determined by the market? - how would it work and what effects would it have? - what do you think the rates would currently be?
  

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Re: - should there be free market interest rates without the Fed setting it?
Reply #1 - Apr 6th, 2016 at 3:16am
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-  would there be a big effect on the nations debt? - pay much higher rates on government debt?
  

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LibsRule
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Re: - should there be free market interest rates without the Fed setting it?
Reply #2 - Apr 6th, 2016 at 4:21am
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Excellent idea.  In fact, I have a real life example of how that would work.  My friend Vito, only charges 1 point per week for his loans.  Don Corleone, on the other hand, charges 2 points per week.
Actually, I have complete faith in banks, that they would not over charge, and would do what's best for all people, profits be damned.

Shocked
  
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Re: - should there be free market interest rates without the Fed setting it?
Reply #3 - Apr 6th, 2016 at 9:28am
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admin wrote on Apr 6th, 2016 at 3:13am:
- should there be free market interest rates without the Fed setting the rates or influencing it?

Of course.
  

BowHunter wrote on Feb 3rd, 2017 at 5:08pm:
I am no longer indulging assholes.
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Re: - should there be free market interest rates without the Fed setting it?
Reply #4 - Apr 6th, 2016 at 11:15am
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There should also be a free market in money in general.

  

"Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually the slaves of some defunct economist." J M Keynes

"In the first place, the dichotomy between "theoretical" and "practical" is a false one. In economics, all arguments are theoretical. And, since economics discusses the real world, these theoretical arguments are by their nature "practical" ones as well." M Rothbard
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Re: - should there be free market interest rates without the Fed setting it?
Reply #5 - Apr 6th, 2016 at 11:16am
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LibsRule wrote on Apr 6th, 2016 at 4:21am:
Excellent idea.  In fact, I have a real life example of how that would work.  My friend Vito, only charges 1 point per week for his loans.  Don Corleone, on the other hand, charges 2 points per week.
Actually, I have complete faith in banks, that they would not over charge, and would do what's best for all people, profits be damned.

Shocked


Sounds like you are talking about the central bank..

For you would need complete faith in the banks to favor a cartelized system over the competitive market.
  

"Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually the slaves of some defunct economist." J M Keynes

"In the first place, the dichotomy between "theoretical" and "practical" is a false one. In economics, all arguments are theoretical. And, since economics discusses the real world, these theoretical arguments are by their nature "practical" ones as well." M Rothbard
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Re: - should there be free market interest rates without the Fed setting it?
Reply #6 - Apr 6th, 2016 at 11:35am
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as long as the fed can print money tied to nothing of value (ie. the old gold standard) it makes the free mkt idea difficult - though I agree that its a good idea in concept...

free mkts work great 99.9% of the time at settting price, cost of money etc...it becomes tough when someone (the fed) can arbitrarily inject newly printed money into the equation...
  
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Re: - should there be free market interest rates without the Fed setting it?
Reply #7 - Apr 6th, 2016 at 2:25pm
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LibsRule wrote on Apr 6th, 2016 at 4:21am:
Excellent idea.  In fact, I have a real life example of how that would work.  My friend Vito, only charges 1 point per week for his loans.  Don Corleone, on the other hand, charges 2 points per week.
Actually, I have complete faith in banks, that they would not over charge, and would do what's best for all people, profits be damned.

Shocked

- how do you explain competing rate/ deals on mortgages and credit cards?
  

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Re: - should there be free market interest rates without the Fed setting it?
Reply #8 - Apr 6th, 2016 at 2:26pm
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LibsRule wrote on Apr 6th, 2016 at 4:21am:
Excellent idea.  In fact, I have a real life example of how that would work.  My friend Vito, only charges 1 point per week for his loans.  Don Corleone, on the other hand, charges 2 points per week.
Actually, I have complete faith in banks, that they would not over charge, and would do what's best for all people, profits be damned.

Shocked


What is the Fed doing that is preventing them from doing those things that you imply they would do absent the Fed?  Or are they currently over charging?
  
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Re: - should there be free market interest rates without the Fed setting it?
Reply #9 - Apr 6th, 2016 at 3:27pm
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admin wrote on Apr 6th, 2016 at 2:25pm:
- how do you explain competing rate/ deals on mortgages and credit cards?


Credit card contracts are very costly for people that miss payments. They are also really costly for small retailers. I don't think they are a particularly good example of competition working.
  
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