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03-06-2024, 12:35pm | #101 | |||||||
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Also, I'm not sure they'll need the ability to create dollars or other currencies, when CBDC's are fully operational? |
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03-06-2024, 12:43pm | #102 | |||||||
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The way fiat money is created is by "loaning" it into existence at a central bank. The only reason the Fed can loan money that didn't exist yesterday is if there is no backing for that money. If each unit of currency is required to be backed by a unit of gold they can only loan out as much fiat currency as they have gold to cover it with. I'm sure I'll be swiftly corrected if I'm wrong about any of this. |
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03-06-2024, 12:45pm | #103 | ||||||
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I'm not even sure the earlier chart includes the Fed's balance sheet? They can create as many dollars as they want, to pay off foreign creditors, bail out the banking cartel, etc.
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03-06-2024, 1:06pm | #104 | |||||||
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The banking sector creates the majority of our currency by loaning it into existence. The Fed's role is to manage the banks and currency to produce "maximum employment and stable prices", allegedly. The Fed is "independent" of the political system, allegedly and is the only institution that can create the currency without a borrower. The entire system is dependent on trust and brut force. Those forces are wanning rapidly, in the world and if history rhymes, we'll be back on a hard money standard, like gold, to restore trust... Until the population again forgets, the purpose of hard money. |
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03-06-2024, 5:36pm | #105 | ||||||||
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03-06-2024, 8:23pm | #106 | |||||||
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The “Industrial Revolution” happened under the classic gold standard. Not sure if you’ve ever read “Economics in one Lesson”? Here’s a link to a free online version: https://fee.org/resources/economics-in-one-lesson/ It’s a great read, quick and will dispel a lot of economic nonsense, used to confuse the general public. |
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03-06-2024, 8:33pm | #107 | ||||||
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“If there's suddenly too little gold — suppose something crazy happens, like South African miners go on strike — then there will be too few dollars relative to the amount of buying and selling going on in the economy." Then people start to hoard their dollars, spending slows, "and the economy collapses." The recent financial crisis shows the importance of giving the Fed flexibility to open the money spigots if necessary.”
Absolute nonsense. Fewer dollars would result in falling prices as dollars became scarce in relation to goods and services but people have to live, which means they will spend. An excellent example is modern technology and the price deflation it has experienced over the years. I remember the first big screens costing tens of thousands of dollars and people bought them! And computers, pagers, phones, etc. The entity that suffers under a gold standard, is the government and the oligarchy that controls it. |
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03-06-2024, 9:16pm | #108 | ||||||
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Central Banks are buying the barbarous relic, hand over fist. But not Bitcoin?
I wonder if there’s a clue in there, somewhere? |
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03-07-2024, 12:53pm | #109 | |||||||
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This will keep you awake at night:
https://www.pgpf.org/blog/2024/02/wh...0next%20decade. Quote:
There will be a day when we will not be able to pay our creditors,,, the rich will be blamed for not paying enough taxes, even though 50% will take MUCH MORE than they paid in their lifetime. |
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03-07-2024, 12:55pm | #110 | ||||||
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2000 $5,674 Budget surplus
2001 $5,807 9/11 attacks; Economic Growth and Tax Relief Reconciliation Act 2002 $6,228 War on Terror 2003 $6,783 Jobs and Growth Tax Relief Reconciliation Act; second Iraq War 2004 $7,379 Second Iraq War 2005 $7,933 Bankruptcy Act; Hurricane Katrina 2006 $8,507 Bernanke chaired Fed 2007 $9,008 Banks crisis 2008 $10,025 Bank bailouts; quantitative easing (QE) 2009 $11,910 Bailout cost $250 billion; American Recovery and Reinvestment Act (ARRA) added $242 billion 2010 $13,562 ARRA added $400B; payroll tax holiday ended; Obama tax cuts; Affordable Care Act; Simpson-Bowles debt reduction plan 2011 $14,790 Debt crisis, recession, and tax cuts reduced revenue 2012 $16,066 Fiscal cliff 2013 $16,738 Sequester; government shutdown 2014 $17,824 QE ended; debt ceiling crisis 2015 $18,151 Oil prices fell 2016 $19,573 Brexit 2017 $20,245 Congress raised the debt ceiling 2018 $21,516 Trump tax cuts 2019 $22,719 Trade wars 2020 $26,945 COVID-19 and recession 2021 $28,428 COVID-19 and American Rescue Plan Act 2022 $30,928 Inflation Reduction Act 2023 $33,167 TODAY $34,491+ |
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