Posted on 05/17/2024 9:18:27 PM PDT by SeekAndFind
>> I think he’s the cute lil’ guy in the overalls.
That was my guess. too. Or the waif to Dad’s left. :-)
Hey, at least Laz belongs to a nuclear family. With a house and a muscle car! :-)
Nah. I’m the sociopathic loner to the far left.
Actually, it's not MMT.
If you had the ability to read the Fed's weekly H.4.1 balance sheet then you too would be able to understand the creation and flow of debt-based money.
Laz I saw the top of that pic and without looking further I knew it was your work :-D
FTTW
On the plus side, you still got a haunch of joesbucks and some joesbucks ribs in the ice box...
“They’re not going to establish a new reserve currency. The banksters won’t allow it.”
They allowed the petrodollar to be bypassed. I suspect the banksters with their low-quality depreciating currencies won’t really have much to say about it.
All we need are robot 🤖 🤖 wives!
Oh and maybe $60 billion dollars from Joe.
>> If you had the ability to read the Fed’s weekly H.4.1 balance sheet bla bla bla yadda yadda
Full stop. I trust the malignant vermin in the Fed about as far as I can throw them. Lying sacks of perverse sh!t.
I think you look ... marvelous!
What joesbucks doink?
MMT posits that the governments of the various countries can create unlimited amounts of money - therefore can pay off debt or fund government programs with impunity.
It also posits that a limit to government spending is inflation.
You and I would agree - MMT is garbage.
Governments are actually very strapped when it comes to money creation - they don't create it - there is no government printing press.
Governments can sell securities (claims on the future labor of its citizens) - and they can alter tax code. They can also encourage others to take out new debt, with each dollar of new debt being an added dollar in the money supply.
When debt is paid off then the money supply shrinks by that amount. Nothing fancy - it's what debt-based money is.
I go back to "Cash for Clunkers" in 2007/08. Why was the government begging people to turn in old cars and take out new debt?
Why is the government enticing college students to take out college loans - to the tune of over $1.8 trillion now?
Why are they about to enable the GSEs of Fannie Mae and Freddie Mac to begin offering mortgage refinance loans?
It's all about trying to keep the "money piston" from dropping like a rock into a major recession or downright depression.
China is there. Germany is there. Japan is there. We are there - but pretending we're not.
It's going to get a whole lot worse before it gets better.
>> Governments are actually very strapped when it comes to money creation - they don’t create it - there is no government printing press.
That right there is a BALD FACED LIE.
If true, how are we now thirty-four trillion dollars in debt, and adding to it at several trillion dollars per year?
The international banks control the future labor and actions of the world.
Watch as they fund both sides of war - as they always have historically.
Name the US presidents who attempted to move away from debt-based money. What do they all have in common?
Answer: They were all assassinated. The latest being JFK when he attempted to use an EO to issue Silver Certificates in June of 1963. He was dead not many months later.
Or we could talk about Lincoln and the Greenback...
Pretty wife, cute kids. You’re a lucky man, Laz.
It may not be the only reason, but it was the start to make personal transportation unaffordable for the average person. The push for EVs will make that a reality.
You calling it a lie doesn't make your position correct. I have clearly laid out the process of how debt is created (and therefore money).
If you'd like to correct that then I'm all ears.
People commonly mistake using the term "inflation". There are two types:
1) Price inflation - things cost more when you buy them.
2) Monetary inflation - the money supply increases.
We have price inflation against monetary deflation. The money supply is shrinking - especially in international settlement terms.
That's why you see the crazy-eyed efforts to create new debt as fast as possible. Debt is owned by the bearer - having a claim on that future labor.
A claim on future labor is also known as "money" in a debt-based system.
You're very wrong.
The banksters are the ones who gave out loans like candy during the roaring 20's. Loans that had very real underlying assets.
The banksters are the ones who pulled the rug out in 1929 - causing massive loan defaults - with the underlying assets going to the banksters.
Up until that time it was the largest transfer of wealth in human history.
It was small compared to the transfer of wealth that occurred in 2000, and more in 2007/08.
The transfer about to take place now make those times look like child's play.
What does this do over time? It destroys the middle class - you have the rich and the slaves.
Do you think it's a coincidence that they're attempting to remove the terms "Master" and "Slave" from the vocabulary?
Ever stopped to ponder why?
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