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To: GIdget2004
Printing money like Weimar is defaulting.
17 posted on 05/09/2016 6:25:09 AM PDT by Paine in the Neck ( Socialism consumes EVERYTHING!)
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To: Paine in the Neck
“Printing money like Weimar is defaulting.”

Yes, I agree, but it didn't sound to me, from reading what he said, that this is what he's advocating. What he said was:

“This is the United States government. First of all, you never have to default because you print the money. I hate to tell you. So there's never a default.”

What he's saying is that this has been the ongoing modus operandi in the US, which is why we've never defaulted to this point. That's why the comment “I hate to tell you”. He's basically saying that the impression that most Americans probably have, that money actually means something, is unfortunately false. In reality, when we pay people in dollars, what we are really giving them are certificates to ‘trade in’ for US goods, services, real estate etc. In that manner, if inflation drives down the purchasing power of each US dollar, we are actually paying them less - but we would then be destroying the purchasing power of each US worker's paycheck, so it could be a disaster for the consumer.

69 posted on 05/09/2016 6:56:09 AM PDT by pieceofthepuzzle
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