Federal Reserve pledges asset purchases with no limit to support markets

Re:Federal Reserve pledges asset purchases with no limit to ... by derefr on Monday March 23, 2020 @12:00PM (#22665255)

Re: that judgement, why is the stock market allowed to halt trading? For that matter, why are savings banks allowed to restrict access to their customers' savings during bank runs? Wouldn't people have the "economic right" to de-leverage [and thereby kill] these institutions in these situations?

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Re:Federal Reserve pledges asset purchases with no limit to ... by momo-reina on Monday March 23, 2020 @12:19PM (#22665467)

You don’t own the money you deposit in the banks, the banks do. Through the act of depositing you are lending the banks your money, therefore it’s not your money anymore. They can default on the loan.

See https://thehutchreport.com/your-bank-account-who-really-owns...

Or read https://www.amazon.com/Where-Does-Money-Come-Ryan-Collins/dp...

Highly recommended.

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Re:Federal Reserve pledges asset purchases with no limit to ... by hirsin on Monday March 23, 2020 @12:20PM (#22665472)

Just like Facebook doesn't have to respect your First Amendment rights, neither do other private enterprises like banks and stock markets need to respect your "economic rights"

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Re:Federal Reserve pledges asset purchases with no limit to ... by pjc50 on Monday March 23, 2020 @12:44PM (#22665777)

Neither of those is the government. That ruling only applies to government action.

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