How is new money created in the economy?

[Foxfyre]

Oh bullshit. If you knew what you were talking about you’d be spouting off like a banshee

You don’t

My New Year's resolution was to renew my pledge to myself to not feed the trolls, argue with idiots, or engage in other exercises in futility. Again have a pleasant evening.

 

[Oddball]

I don't think our self-professed wise ones understand that we literally have to go deeper into debt every year, or else the whole thing goes into a deflationary collapse under the weight of its payments. As it is, there's always more debt in the system than there is currency under the modern model.

I've been kind of biting my tongue in this thread. Chuckling as I scroll through it.

There's so much that's missing from the discussion. But we've been through all of this before.

Oh, so what you're saying that the practice of issuing debt for value in the economy still hasn't been made to work in the real world, after centuries of attempts at it?

Whodathunkit?

 

[Oddball]

Oh bullshit. If you knew what you were talking about you’d be spouting off like a banshee

You don’t

Not knowing WTF you're blabbering about never stopped you.

 

[Lesh]

Not knowing WTF you're blabbering about never stopped you.

What? More trolling by Oddball?

Say it ain’t so!

Fuck off

 

[Lesh]

My New Year's resolution was to renew my pledge to myself to not feed the trolls, argue with idiots, or engage in other exercises in futility. Again have a pleasant evening.

Surrender accepted

 

[Stormy Daniels]

Well I thought Stormy knew this subject.

I guess. I was wrong about that

You have to go back to see her production based theory.

 

[Lesh]

You have to go back to see her production based theory.

Look dude. You started this thread

Weigh in or fuck off

 

[Stormy Daniels]

Look dude. You started this thread

Weigh in or fuck off

Why the hell are you getting pissed of at me?

 

[Lesh]

Why the hell are you getting pissed of at me?

Because you either know how this works or pretend to and are not “sharing your knowledge “ if you have any.

Instead of asking inane questions

Lay out how it works.

 

[Natural Citizen]

If you’re saying that the nation run on (moderate) inflation you’d be right.

Been that way for a long time and it’ll go one like that for a long time.

I am old enough to remember Reagan going off about a trillion dollar debt like it was the end of the world.

That was forty years ago

The system is designed to require ever-increasing levels of debt just to continue. But ultimately it is a finite.

And it hasn't really been very long in the scheme of things. 1913 is when they hit us with the left jab by establishing the 16th Amendment, The Federal Reserve and it's collection wing, the IRS aall in the same year, and then they knocked us down with that right hook in 1971.

For such a short time, and as far as I know, I think this is the longest a fiat system has survived in the history of man. And it's not looking good in that short period of time.

It's why they're pushing that whole reset gig. They know what's going down. It can't keep going.

 

[Lesh]

The system is designed to require ever-increasing levels of debt just to continue. But ultimately it is a finite.

And it hasn't really been very long in the scheme of things. 1913 is when they hit us with the left jab by establishing the 16th Amendment, The Federal Reserve and it's collection wing, the IRS aall in the same year, and then they knocked us down with that right hook in 1971.

For such a short time, and as far as I know, I think this is the longest a fiat system has survived in the history of man. And it's not looking good in that short period of time.

It's why they're pushing that whole reset gig. They know what's going down. It can't keep going.

If you are right (and you’re not) we’d all be long dead we’re that to be the case

 

[Stormy Daniels]

For such a short time, andas far as I know, I think this is the longest a fiat system has survived in the history of man. And it's not looking good.

Actually the United States was a latecomer to fiat money. China has been in the game for about 1000 years.

 

[Natural Citizen]

If you are right (and you’re not) we’d all be long dead we’re that to be the case

In the end we all are.

That's actually part of the equation. Ha...

Ah well.

 

[Lesh]

Actually the United States was a latecomer to fiat money. China has been in the game for about 1000 years.

You still just chipping in from the sidelines?

 

[Natural Citizen]

Actually the United States was a latecomer to fiat money. China has been in the game for about 1000 years.

I suppose you're right about China. I should read up on them more, just for the heck of it.

 

[Harpy Eagle]

EVERY fiat currency has failed. Not one has ever survived

The dollar has survived.

The pound has survived

The Yen has survived

The Deutsche Mark has survived

 

[expat_panama]

After which they get immediately re-issued at the higher rate.....The principal will never ever be paid down.

"Never" is a big word, nobody knows what tomorrow may bring.

What we do know is that the U.S. was born w/ an enormous debt thanks to John Adams borrowing from the Dutch to finance the revolution. Debt was so big that after the war there was a big debate over the advisability of just defaulting --after all much of the debt was now in the hands of evil speculators. Cooler heads prevailed and the debt was honored & we never looked back.

Since then we've always had a debt --well ok in 1833 we actually had a surplus for a year or two-- but having a debt is what governments do. It's good business. Like, why raise taxes to have the debt at zero -forcing the public to borrow at high interest rates- when we can just have the Fed gov't borrow at low rates (you must understand that just recently folks were bidding up t-bills to ZERO interest) --and have the same outcome. Much cheaper for the public if the gov't carries the debt.

Unless you're one of those tax'n'spend fanatics in which case I'd advise heavy medication.

 

[expat_panama]

The dollar has survived.

The pound has survived

The Yen has survived

The Deutsche Mark has survived

nothing is permanent in this universe. Like, even the Deutschmark was abandoned in 2002 when they changed over to the Euro --but your point is well taken.

All currencies are "fiat" currencies. Governments have currencies and they've had them for thousands of years. Reality must be accepted on its own terms.

 

[22lcidw]

Very little of that word salad is based in. reality

It is in the direction. In simple terms. The Federal Reserve is a middleman. it takes its cut and it is a lot as it runs many financial services. When the fiat currency was under control and inflation real low we used to have 4% interest at the banks and free toasters with new accounts. The financiers of the world changed how banks operate some decades ago. It seems we paid to keep our money in it. Charging us for everything we do. ATM machines as an example were started for easy services and to even give us more money in interest and to keep the number of tellers reduced. ATM machines charge people to use them today and have for some time. People get paid in checks and have to go to check cashing places and pay a fee for it. For decades. know your customers is pure infringement on your rights. If you take so much money out, you are a drug dealer the excuse. Credit cards, debit cards and any card are a means to track you. Anyway, we had scares in our gold and silver backed currency and at the time of the Federal Reserve Act they said there will be no more recessions and depressions. They lied. They caused the Great Depression, got us into many wars, saw the nation peak until the stupid 1960's legislation that has turned us into a social welfare state without enough money to pay for it. Which means we have to go to war.

 

[Lesh]

It is in the direction. In simple terms. The Federal Reserve is a middleman. it takes its cut and it is a lot as it runs many financial services. When the fiat currency was under control and inflation real low we used to have 4% interest at the banks and free toasters with new accounts. The financiers of the world changed how banks operate some decades ago. It seems we paid to keep our money in it. Charging us for everything we do. ATM machines as an example were started for easy services and to even give us more money in interest and to keep the number of tellers reduced. ATM machines charge people to use them today and have for some time. People get paid in checks and have to go to check cashing places and pay a fee for it. For decades. know your customers is pure infringement on your rights. If you take so much money out, you are a drug dealer the excuse. Credit cards, debit cards and any card are a means to track you. Anyway, we had scares in our gold and silver backed currency and at the time of the Federal Reserve Act they said there will be no more recessions and depressions. They lied. They caused the Great Depression, got us into many wars, saw the nation peak until the stupid 1960's legislation that has turned us into a social welfare state without enough money to pay for it. Which means we have to go to war.

Do the nurses know you have access to a computer?