Posted on 06/03/2022 12:35:32 PM PDT by JonPreston
I will say this, the wife and I are using cash as much as possible.
Chinese President Xi agrees woth Putin on this.
Too many. And what?
𤍠đˇ
5 minute video by Milton Freedman on youtube called “Inflation Explained” or something like that. He talked about pre-revolution tobacco leaf currency used as the first fiat currency in the Americas.
Basically, early colonialists bartered goods, but the lack of peer to peer trades was very difficult. They started using tobacco leaves as currency, eventually leading to paper money backed by tobacco leaves stored by banks. Colonists just grew more tobacco to deposit at the banks in exchange for the paper, essentially printing their own money. In a matter of only decades, what could be bought with one leaf costed 40. All of the gov’s attempts to reign it in - grading tobaccos, restricting who is allowed to grow tobacco, outlawing growing your own, destroying others’ fields, etc, failed. The tobacco currency was thus destroyed.
The upshot - inflation is caused by printing more and more fiat currency. It is not, and has never been, any more complicated than that. Eventually the paper money is so common it is essentially worthless.
US printed 10 trillion in last couple of years [with nothing to back it except the gov’s ‘word’]. That is why there is inflation. Other factors may nudge it here and there, but that is the primary reason without which inflation could not exist.
This must be Fake News ‘cos somewhere in the MSM this week I read that Putin is probably already dead.
Meanwhile today here near London I watched in amazement as petrol (gasolin) prices went up from 1.70GBP to 1.89GBP per litre in less than 24 hours. I guess they thought they would do it while everyone else was distracted by the Jubilee “celebrations”.
Right you are. Cheers.
So because we did something wrong that means Putin can do something even more wrong.
Youâre notâŚoh whatâs the wordâŚoh yes.
Smart. Youâre not smart.
L
Iâm with you. We use cash for most daily purchases. Not many of us left.
No No No!!!!!
Moscow will get their comeuppance, too! Might take 20 or 30 years, but you just need to wait and the lefties will be proven right!
Just like global warming.
$1.48 a dozen.
https://www.nationmaster.com/country-info/compare/Russia/United-States/Cost-of-living
Which country has the US sanctions hurt most?
Lets look at eggs.
The price of 12 eggs, large in Moscow is $2.00 (ŃŃĐą 124)
Latest update: May 31, 2022.
12 eggs, large in other cities
In Manila the price is 7% more expensive than in Moscow
In Hamburg the price is 132% more expensive than in Moscow
In Seoul the price is 163% more expensive than in Moscow
In Budapest the price is 10% more expensive than in Moscow
In New York City the price is 114% more expensive than in Moscow
In Stockholm the price is 101% more expensive than in Moscow
In Johannesburg the price is 48% more expensive than in Moscow
In Guadalajara the price is 8% cheaper than in Moscow
Did Putin talk to Yellen or is she another socialist who is clueless about what’s happening around here?
About your homepage, whatâs that pirate đ´ââ ď¸ stuff about? Arenât you embarrassed?
Putin the Monetarist, student of Milton Friedman! Who would have guessed.
The only embarrassment around here is you, Scooter.
L
You claim your pirate name is Iron Jack Roberts. Tell us about the last name, Roberts. Where did that come from?
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