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...and this is where I just weep for my country (Read 183 times)
justin_o_guy2
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Re: ...and this is where I just weep for my countr
Reply #15 - 07/30/13 at 09:55:44
 
Im not arguing with ignorance, I KNOW what Im talking about,, NOT ONE Dollar is created that doesnt come with a burden of debt,
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The people never give up their liberties but under some delusion.- Edmund Burke.
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Pine
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Re: ...and this is where I just weep for my countr
Reply #16 - 07/30/13 at 10:33:19
 
justin_o_guy2 wrote on 07/30/13 at 09:55:44:
Im not arguing with ignorance, I KNOW what Im talking about,, NOT ONE Dollar is created that doesnt come with a burden of debt,



Actually I think that technically JoG is correct, that's simply how the system was set up. The Fed orders that Treasury print money, the money is a debt back to treasury. (something like that) Its the same with a check.. a check is not money its a debt ( yet a check "ADDS" to the money supply!).

Sri I am still in disagreement (polite) with your assessment of deflation versus inflation. Neither is more harsh than the other. Both are equally bad as both are different sides of the same coin, so to speak.

I find it odd that you would state that inflation is bad for savers and those on fixed income but (not for the rest of us)... I seem to fit in the savers and fixed income folks then. I suspect "the rest of us" is a very particular group... say those federal dole?  

Regardless, the US is currently impossibly far away from deflation. It could not happen now... no matter what. Inflation on the other hand, is just a matter of time away. It IS going to happen, it must happen.. and the ONLY thing that could stop it would be a complete melt down of currency (at which point, inflation/deflation is moot).

The FED is even admitting inflation is coming. ITs just a matter of controlled inflation versus un-checked inflation. Thus the Fed talking about raising the PRIME rate. Now the truth is that inflation is already here and has been, but due to reporting "trickery" its just under reported. What gets argued is how to report inflation. If inflation is "rising prices" then inflation is currently low... if inflation is increasing money supply versus productivity... then inflation is obscenely high. At some point those two MUST equalize.
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srinath
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Re: ...and this is where I just weep for my countr
Reply #17 - 07/30/13 at 12:58:34
 
Pine wrote on 07/30/13 at 10:33:19:
justin_o_guy2 wrote on 07/30/13 at 09:55:44:
Im not arguing with ignorance, I KNOW what Im talking about,, NOT ONE Dollar is created that doesnt come with a burden of debt,



Actually I think that technically JoG is correct, that's simply how the system was set up. The Fed orders that Treasury print money, the money is a debt back to treasury. (something like that) Its the same with a check.. a check is not money its a debt ( yet a check "ADDS" to the money supply!).

Sri I am still in disagreement (polite) with your assessment of deflation versus inflation. Neither is more harsh than the other. Both are equally bad as both are different sides of the same coin, so to speak.

I find it odd that you would state that inflation is bad for savers and those on fixed income but (not for the rest of us)... I seem to fit in the savers and fixed income folks then. I suspect "the rest of us" is a very particular group... say those federal dole?  

Regardless, the US is currently impossibly far away from deflation. It could not happen now... no matter what. Inflation on the other hand, is just a matter of time away. It IS going to happen, it must happen.. and the ONLY thing that could stop it would be a complete melt down of currency (at which point, inflation/deflation is moot).

The FED is even admitting inflation is coming. ITs just a matter of controlled inflation versus un-checked inflation. Thus the Fed talking about raising the PRIME rate. Now the truth is that inflation is already here and has been, but due to reporting "trickery" its just under reported. What gets argued is how to report inflation. If inflation is "rising prices" then inflation is currently low... if inflation is increasing money supply versus productivity... then inflation is obscenely high. At some point those two MUST equalize.    


That is how the feds have been doing it of late. Not how the system is setup.
And those on dole are fixed in come ... They get bitten by it.
It affects those of us able to negotiate our wage (as in the ability to quit and get a higher paying job) a lot less.
I was @ a job last year that I agreed to do for some amount. The recruiter said there was someone doing that job for 18 months for 3/4th of what they were agreeing to pay me.
I quit a couple months later for a permanent job paying 15% more and better benifits.
The replacement for me they were offering 12% more than I was making.
That = inflation. It usually helps people who have their arms free to negotiate their wages. Dole is not.
Fed is saying inflation is likely ... they however were afraid of deflation over the last few years.

Deflation is far more damaging than inflation. Of the order of 10 X ...

Cool.
Srinath.
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justin_o_guy2
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Re: ...and this is where I just weep for my countr
Reply #18 - 07/30/13 at 15:30:05
 
It is impossible to create One Dollar & NOT have to pay the Fede back That dollar + interest. Its How the system works. Either read & learn or stop pretending you know.,
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The people never give up their liberties but under some delusion.- Edmund Burke.
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Re: ...and this is where I just weep for my countr
Reply #19 - 07/31/13 at 06:01:03
 
There is no 11th dollar.


--Steve
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srinath
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Re: ...and this is where I just weep for my countr
Reply #20 - 07/31/13 at 06:51:51
 
justin_o_guy2 wrote on 07/29/13 at 12:44:40:
Really? Ill bet good $$$ Im WAY more educated in the realm of economics than you are. You go ahead & pretend nations cant go broke, while we have news on Greece..


Your ongoing comparisons to greece prove your ignorance. You can stfu about economics ... and try this one for a change ... when was the last time Greece printed 1 bill of the currnecy it uses ?

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justin_o_guy2
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Re: ...and this is where I just weep for my countr
Reply #21 - 07/31/13 at 07:55:29
 
The euro is just as poorly done as our dollar. the socio-economic upheavals they are seeing are the result of policies that create $$$ from nothing, just like our central bank, The fact that more than one natiuon shares the currency doent un-do that.

That youre wrong, again, & disagree with me, again, only comforts me, because when you say Im wrong, I feel better, because your understanding of economics is so poor.

I mention Greece because their policies have created unrest. OUrs are on the way there. America is in TRouble,, BIG trouble.. Are we gonna see a slow slide or a crash? Thats the only real question. The answer depends on so many variables & so many people ( nations) have Dollars they dont want to see evaporate that theyll work to prop it up, Then theres the REAL power structure, wealthy beyond measure, beyond the wealth of nations, the Rothschild & friends conglomerate. Its hard to say whats coming & when, but, THIS I will say

We will not see an economic recovery. OUr unemployment rates will not go back to pre 2008 levels. OUr manufacturing/exports will continue to shrink, debt will rise, how fast? Who knows, but I see no policy change that would change these things.

IN order to print a dollar, WE, America, ASK for it to be printed by The Federal REserve.
They print up a T-Bill & sell it. It has a maturation date & will Pay the Purchaser a profit. Someone has to pay that difference,, NOw, who do you think is on the hook for that? Not ONE dollar is created that doesnt cost the People that dollar + INterest.
YOU cant go to the bank & get $$$ w/o paying more than that amount back.
America sold its sovereign right to create its own money in 1913.
Libya, Iraq? THEY were not using that system. THEY were sovereign.
They were rocking the boat. They were gonna stop using the Dollar for oil sales. THEY were a threat to the power structure. Look at what life was like in Libya. 1951, Libya was THE Poorest nation in Africa. LIbya was the Crown Jewel of Africa before His People rose up against him,, COFF COFF.

Who watched that video? His people LOVED him,
If nothing else, go to 50 minutes in & watch 8 minutes. OR, believe CNN, or Fox, or whichever Owned & Operated by TPTB bunch of liars.
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The people never give up their liberties but under some delusion.- Edmund Burke.
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srinath
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Re: ...and this is where I just weep for my countr
Reply #22 - 07/31/13 at 08:31:38
 
justin_o_guy2 wrote on 07/31/13 at 07:55:29:
IN order to print a dollar, WE, America, ASK for it to be printed by The Federal REserve.
They print up a T-Bill & sell it. It has a maturation date & will Pay the Purchaser a profit. Someone has to pay that difference,, NOw, who do you think is on the hook for that? Not ONE dollar is created that doesnt cost the People that dollar + INterest.


Once again for what I think is the 1000th time I am posting this ...

This is the way to print a T-Bill ...
And you do know that you could buy that T-Bill right ? And you probably already own some, its in a lot of retirement and other funds.

Not dollar bills ... Treasury bills. This has been a way to raise capital of late, cos they pay nothing in interest and have been suckering in people with "how safe it is" and how it will "never break the buck" ... shame on you if you fall for that joke.

Currency - us $$$$ bills/coins etc - not printed this way ...

Currency is printed by the Department of the treasury.

http://www.moneyfactory.gov/uscurrency/annualproductionfigures.html

Here are some more fun facts for you ...

How much money is printed each day? The Bureau of Engraving and Printing produces 38 million notes a day with a face value of approximately $541 million. That doesn't mean there is $541 million more money circulating today than there was yesterday, though, because 95% of the notes printed each year are used to replace notes already in circulation.

We have been printing T-Bills - aka Fed has been. However that is only because now when inflation is running 4-5%, they are paying under 2% ... and selling that sheiete to foreigners cos its "safe".

If them foreigners asks for their $$ back, we will tell the treasury to send them that $$ in super huge denominations.

You are wrong about all the rest in your specific understanding as well, I just decided to pick and prove this 1 point.

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Srinath.
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srinath
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Re: ...and this is where I just weep for my countr
Reply #23 - 07/31/13 at 08:38:52
 
justin_o_guy2 wrote on 07/31/13 at 07:55:29:
.

I mention Greece because their policies have created unrest. OUrs are on the way there. America is in TRouble,, BIG trouble..



Yea, Greece's policy of austerity has created Unrest ... austerity ... aka what the small governemtn TEA baggers want ... not what we have now, and not what Obama will do if the TEA baggers aren't choking him @ every turn. TEA baggers want us to be the next greece and will do anything to create that. Obama does not and will stop them if he could.

Word for word, everything in your post is bass ackwards.

Cool.
Srinath.
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Dane Allen
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Re: ...and this is where I just weep for my countr
Reply #24 - 07/31/13 at 11:11:46
 
What does it say at the very top of the dollar bill? It says "Federal Reserve Note."

What is the definition of the word "note?"

Note: "A written promise to pay a debt."

Just thought I'd throw that little tidbit into the conversation.
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justin_o_guy2
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Re: ...and this is where I just weep for my countr
Reply #25 - 07/31/13 at 22:57:03
 
Treasury is not allowed to print a dollar unless a T bill or some other instrument has been sold., IM DONE, YOURE Ignorant of the FACTS,
Not One Dollar can be created that does NOT create a debt, Period.
Ive spent lots of time on this. Im not guessing, Im not using what Ive been told by people I like. Ive read how it works, Ive watched videos, I KNOW what Imm talking about,
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The people never give up their liberties but under some delusion.- Edmund Burke.
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