Conservatives love freedom to rip-off the U.S. government (Page 13): Obama is a multimillionaire. He is supported by his big bucks buddies. In 2012 Warren Buffett, the richest man in...

maureenthannon

Obama is a multimillionaire. He is supported by his big bucks buddies. In 2012 Warren Buffett, the richest man in the world campaigned for him. In both elections he set records for the most expensive campaigns and the most money received in election contributions. The million dollar campaign donations didn't come from the common people. MSM has many people fooled into thinking Obama is on their side. He's chased away corporations that could employ many people. Unemployment is higher than any time in U.S. history, except the Great Depression, but he's working on beating that record too. Obama claims that the unemployment rate is falling. He does this like everything else, he fudges the numbers. Only people unemployed 6 months or less are counted as unemployed. The millions of people that have been without jobs for a long time don't count.

MarvinSussman

JimMe wrote:

Congress doesn't "... create fiat money by deficit spending..."

All USA Currency since the 1970's has been "fiat" regardless of Fed Deficits or Surpluses...

Arguing about "fiat money" is MOOT...

PS - I did say Banks earn more than they pay out in interest... So, we agree on that point...

You don't seem to get it. Once more: if the IRS recuperates all federal spending ("balances the budget"), there is no addition of fiat currency in the economy. The only way to increase the amount of fiat currency in the economy is via deficit spending.

I don't know how to make it clearer. My 11-year-old grand-daughter understood it. What is your problem??

MarvinSussman

saloopo wrote:

any money that is created comes into existence as ... (show quote)

The US gummint does not get dollars from the Federal Reserve except for 94% of the Fed's annual profit, if any. The US gummint creates dollars only by Congressional spending. The dollars created by Congressional spending stay in the economy only by virtue of deficit spending.

We have been speaking only of federal debt, not private debt.

Blade_Runner Loc: DARK SIDE OF THE MOON

MarvinSussman wrote:

I don't know how to make it clearer. My 11-year-old grand-daughter understood it. What is your problem??

Of course she did. With you explaining that bullshit to her, what other choice does she have?

MarvinSussman

Blade_Runner wrote:

Of course she did. With you explaining that bullshit to her, what other choice does she have?

An honest, rational, intelligent person who disagrees with a statement would quote the words and indicate the facts or logic with which he disagrees. You were and remain incapable of such an intelligent act.

You have failed your obligation to communicate effectively in a democratic society. You can only vituperate on a grammar school level.

Nature has failed you and you have failed society.

Everything I wrote makes sense and it destroys your fundamentalist beliefs in the nonsense you hold dearly.

You are frustrated and infuriated to the point of foaming at the mouth and spitting.

Your opprobrium is my reward. I am delighted by your antipathy.

JimMe

MarvinSussman wrote:

You don't seem to get it. Once more: if the IRS recuperates all federal spending ("balances the budget"), there is no addition of fiat currency in the economy. The only way to increase the amount of fiat currency in the economy is via deficit spending.

I don't know how to make it clearer. My 11-year-old grand-daughter understood it. What is your problem??

But the IRS recuperates all federal spending ("balances the budget") by including the Congressional Borrowing of Money - which in turn increases the fiat currency in the economy...

Technically, the IRS doesn't increase the fiat currency... But the fiat currency IS INCREASED TO "BALANCE THE BUDGET"...

MarvinSussman

JimMe wrote:

But the IRS recuperates all federal spending ("balances the budget") by including the Congressional Borrowing of Money - which in turn increases the fiat currency in the economy...

Technically, the IRS doesn't increase the fiat currency... But the fiat currency IS INCREASED TO "BALANCE THE BUDGET"...

The Treasury recaptures the new fiat currency by auctioning treasuries for that amount. However, the auction winners post the treasuries as securities for mortgage loans, etc., so that the economy does have greater M2 due to the deficit spending. Welcome to the wonderful world of capitalism.

Rorshach Loc: Los Angeles

FIRST WE HAVE TO ELIMINATE THE FEDERAL RESERVE
GET THE DOLLAR BACK ON A GOLD STANDARD THEN WE CAN BEGIN THE LONG CLIMB BACK TO PROSERITY

Rorshach Loc: Los Angeles

Rorshach wrote:

FIRST WE HAVE TO ELIMINATE THE FEDERAL RESERVE
GET THE DOLLAR BACK ON A GOLD STANDARD THEN WE CAN BEGIN THE LONG CLIMB BACK TO PROSPERITY

MarvinSussman

Rorshach wrote:

FIRST WE HAVE TO ELIMINATE THE FEDERAL RESERVE
GET THE DOLLAR BACK ON A GOLD STANDARD THEN WE CAN BEGIN THE LONG CLIMB BACK TO PROSERITY

Every gold standard regime failed because the money supply ALWAYS grows faster than the gold supply. Nixon ran out of gold like all the others. Give it up.

JimMe

MarvinSussman wrote:

The Treasury recaptures the new fiat currency by auctioning treasuries for that amount. However, the auction winners post the treasuries as securities for mortgage loans, etc., so that the economy does have greater M2 due to the deficit spending. Welcome to the wonderful world of capitalism.

Welcome to the Wonderful World of DemRino-Socialist Capitolism...

Rorshach Loc: Los Angeles

MarvinSussman wrote:

Every gold standard regime failed because the money supply ALWAYS grows faster than the gold supply. Nixon ran out of gold like all the others. Give it up.

IT DIDN'T FAIL :roll:

Blade_Runner Loc: DARK SIDE OF THE MOON

MarvinSussman wrote:

Every gold standard regime failed because the money supply ALWAYS grows faster than the gold supply. Nixon ran out of gold like all the others. Give it up.

Hate to use an old cliche, but it does apply. You are dumber than a box of hammers.

MarvinSussman

JimMe wrote:

Welcome to the Wonderful World of DemRino-Socialist Capitolism...

It's just the same old capitalism. You just don't like it anymore.

MarvinSussman

Blade_Runner wrote:

Hate to use an old cliche, but it does apply. You are dumber than a box of hammers.

An honest, rational, intelligent person who disagrees with a statement would quote the words and indicate the facts or logic with which he disagrees. You were and remain incapable of such an intelligent act.

You have failed your obligation to communicate effectively in a democratic society. You can only vituperate on a grammar school level.

Nature has failed you and you have failed society.

Everything I wrote makes sense and it destroys your fundamentalist beliefs in the nonsense you hold dearly.

You are frustrated and infuriated to the point of foaming at the mouth and spitting.

Your opprobrium is my reward. I am delighted by your antipathy.