Chris Martenson: Debtors Rescued

Posted by admin on Saturday, July 1, 2023

Meaning of Chris Martenson Money Quote: saying Savers must be punished with low interest rates, while debtors must pay high rates so more profitable loans can be offered and creating less savings. Chris Martenson said:

 

 

“Savers have to be punished so debtors can be saved. Why? Because if debtors are rescued, that makes it possible for more debts to be issued in the future. And why is that important? Because the banking system needs ever more loans in order to survive” — Chris Martenson

 

 

In this quote, Chris Martenson is criticizing the way economic policy has treated savers versus debtors. He argues that savers are essentially “punished” through low interest rates, while actions are taken to “rescue” debtors by making it easier for them to manage or reduce their debt burdens.

Martenson suggests the real motivation for this approach is to benefit the banking system. By helping debtors pay off or take on new loans, it allows banks to issue “more debts in the future” which they “need” to survive since they profit from interest on loans.

So in summary, Martenson is accusing policymakers of prioritizing the interests of banks over savers, by punishing savers to enable an endless cycle of more consumer debt that banks rely on for their business model to function.

Birthday: November 7, 1951 – Death: March 3, 2024

Micah Hauptman: Fiduciary Rule Ruse

Posted by admin on Thursday, March 2, 2017

Micah Hauptman Money Quote saying Trump has requested a delay in implementing the Obama administrations “Fiduciary Rule” on investment advisors. Micah Hauptman said:
 

 

“It’s a complete ruse that the delay will be limited to 60 days, We should expect a string of delays, and the longer the rule is delayed, the more harm will befall retirement savers” — Micah Hauptman

 

 

In this quote, Micah Hauptman seems to be criticizing a delay in implementing a new rule related to retirement savings. By calling the 60-day delay a “complete ruse”, he suggests it is intentionally misleading and the timeline will not be adhered to. Hauptman goes on to predict there will be a “string of delays”, implying the rule change will face repeated pushbacks that prolong its implementation. His main point is that the longer this rule is postponed, the greater negative impact it will have on people saving for retirement.

The best interpretation is that Hauptman believes the delay tactics will undermine the retirement security of savers, and the rule should be enacted without avoidable stalling. He comes across as advocating for timely regulatory certainty to better protect the interests of those saving for their financial future in old age.