Quote:
Originally Posted by sperbonzo
No offense but you don't seem to have a clue about the mechanics of banking. I don't have time to teach you all this stuff, but if you are REALLY interested in knowing what's going on and not merely in yelling from a soapbox about things you don't seem to know anything about , I would suggest you do some studying. I would look up things like "ledger balance", as opposed to "Tier 1 assets", "overnight lending", and how "taking a short position" actually works.
As for glitches in ledger balances, they happen all the time without any funds actually changing hands to anyone, and there is no way to "cover a short" with ledger balances.
I really think that if you are so passionate about this subject you really should take some time and effort to actually learn how it all works. It will give you campaigning a little more weight.
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Well I would not take offense but you just prefaced your offending comment "no offense" and then proceeded to offend me...
why I don't get it...I shared a true story, added an opinion or 2 of my own....did not step on your toes personally but called into practice the actions of a bank?
Why would that offend you? Are you a banker of some sort....do you hold other peoples monies, do you "process" other peoples monies?
The concept of money is very simple and elementary what is not elementary is the concept of credit, fiat currency and federal reserve notes.
I do not want to derail the thread so to get back on track, I was sharing details about a strange banking transaction that the bank called strange, the merchant called strange, and me the customer called strange.
Now share it with gfy and the usual asshat or two comes in and tries to insist I am an attention whore or crazy, or whatever..its just childish.
But yeah 20 bucks disappeared from our account for 10 days and no one knew where it was for 10 days. Thats the lesson here, and it should not matter if it was 20 bucks or 20 grand, it was gone and not accounted for for 10 days.
The bank did not have it, the merchant did not have it, the customer did not have it during the 10 days...
I ask again did maillick have it? because somebody had it? Somebody needed that 20 bucks more than myself and the merchant we made the purchase with.
I thought it would be interesting to share because of so many transactions being "denied by bank" lately