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Nice !
I'm wit you Jibby
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Will be back to normal in three weeksComment -
I get it fleece, I'm certainly not criticizing you.
Except maybe for the Hillary quip about beating the virus...lol.
I think we're getting double screwed, with shutdowns being used to rationalize bailouts that are certain to lead to inflation rates going up. They keep doing this and our kids will pay $1000 for a loaf of bread.
Not to mention, consumer prices will go up after this, and they will never go back down.
It's a bad scene altogether, but having the Fed create money out of nothing so the Gov't can borrow it isn't going to help anything at this stage.Comment -
It's unconstituional to print money, if you aren't stamping a coin.
So to get around it, the gov't allows the Fed to be a monopoly that prints money out of nothing and loans it to the gov't.
Along with bond sales that what comprises the national debt.
If we are playing monopoly, and we all start with a set amount of money, then prices are what they are. But if I go into the monopoly bank and give everyone more money, then when we auction the next property, it will be more expensive to buy as everyone has more money to bid.
The property didn't change, but the it got more expensive simply because everyone had more money.
The gov't borrows the money from the Fed to create dollars in the system, our future generations are the one's they borrowed it from and this system will not work.
This is the 4th, I believe, central bank that we've had on this continent.
The other 3 all went bankrupt.
Remember, the Federal Reserve Banking System is not Federal, and has no reserves.
It's just named that so people won't realize what has been and is really happening.
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The government does not borrow money. It makes the money. The Pharoah builds a pyramid. The Emperor goes to war. A president builds a battleship or bails out banks. They do not need permission because they make the money.Comment -
Why give everyone and the system 2 trillion dollars?
Why not just slash 2 trillion of the National Debt?
Because is we paid off the national debt, there would be no more money in the system.
Every dollar out there is created because the gov't borrowed it from the Fed. Reducing or paying that debt takes money out of the system.
It's a house of cards and it takes an epidemc of these proportions to really see just how precarious it is. Remember, the Fed's number one goal is to control inflation that they create.
In other words, the Fed's number one goal is to de value the dollar.
This current stimulus will do just that, again. This is socialism and our gov't is socialist.
But nobody seems to mind when it appears that they are saving us from catastrophe. This is history and it will repeat itself.Comment -
It's unconstituional to print money, if you aren't stamping a coin.
So to get around it, the gov't allows the Fed to be a monopoly that prints money out of nothing and loans it to the gov't.
Along with bond sales that what comprises the national debt.
If we are playing monopoly, and we all start with a set amount of money, then prices are what they are. But if I go into the monopoly bank and give everyone more money, then when we auction the next property, it will be more expensive to buy as everyone has more money to bid.
The property didn't change, but the it got more expensive simply because everyone had more money.
The gov't borrows the money from the Fed to create dollars in the system, our future generations are the one's they borrowed it from and this system will not work.
This is the 4th, I believe, central bank that we've had on this continent.
The other 3 all went bankrupt.
Remember, the Federal Reserve Banking System is not Federal, and has no reserves.
It's just named that so people won't realize what has been and is really happening.
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Not enough to run anything though. Borrowing is what the gov't does, that's why the Federal Reserve exists. We can't survive on what little taxes are taken in, it's all borrowing.
And when it can't be paid back, whether it's the US borrowing or another nation, then they restructure the loans and put it off for the next generation under threat of bankruptcy.
Nobody makes money, they print and borrow it. All money is created the moment it is lent, that's how it works.Comment -
No, there is no trillion dollars. Once you get to a trillion, you have jumped the shark. The con is up.
A government makes money. In your scenario, the government is bailing out rich people and borrowing from them at the same time. That is obviously impossible.
The Fed is part of the government. The government does not get money from the Fed. The Fed gets money from the government. The government does whatever the hell it wants. It mostly wants to give money to rich people.Comment -
This is wrong.
The Fed is central bank. We fought a revolutionary war to get out from under the nose of a central bank, only to start another one. And this is now our 4th because of reckless central bank activities.
The Fed is not gov't, it's the only bank who was granted a monopoly by the gov't to be the only bank that can lend to the gov't and set a lending rate for other banks.
I don't think you understand just how all this works.Comment -
You believe the line you are handed. There has never been a time when the US govt did not do whatever it wanted to do. A trillion here, a trillion there. Everybody said that they would run out of money because they do not understand how money works. The govt cannot run out of money.
That is why you have always thought interest rates would go sky high. You have been wrong and you are wrong now. Check the interest rates. Check them in 10 years. You are confused.Comment -
None of this makes sense in our conversation. I am bitching about the gov't going around it's own rules to do whatever it wants.
I never said anything like that about interest rates, not at all.
So much for having a conversation.
You are confused guy, you don't know what the Fed is or does and clearly have no idea what I'm posting. It must be my fault, I must have confused you.
I am sorry. You need to catch up on how this works. Read my posts and go from there.
Outside of that, I can't help you.
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I think jj is being a bit optimistic on that one. But, I do think the current level of shutdown won't go on for that long. I mean, remember, at this rate, most of California would be infected in 8 weeks. (And that's actually true, based on the math anyway). So, it's either going to slow down before then, or else it will slow down on it's own because it's running out of people.
Obviously, the preference is to slow it down before then. But, either way, the duration won't be as long as you might think. So, hang in there.Comment -
We will be fine
China getting back to some normalcyComment -
I want to add one more thing.
Of course the gov't can run out of money. Our gov't has several times over just the past few years.
They've even shutdown over it.
The reason is that there is a debt ceiling and without passing a law, they can't borrow more. Every budget gets debated over cutting spending vs. raising the debt ceiling.
The gov't operates on borrowed funds and continues to borrow yearly.
Most Americans don't understand how this came to be, and if you don't understand it you now have a good starting point.
It's up to you Bannon, if you want to learn.Comment -
Very sobering to see how ill-equipped the entire world is in handling a pandemicComment -
US is a debt based economy. 23 trillion dollars and countingComment -
bitcoin is going to skyrocket the next 2 years
this is exactly why it was created in 09
it was to get away from the con game of the fed
im shocked the government has not banned it yetComment -
Probably because an actual ban isn't really feasible and would ultimately strengthen bitcoinComment
