Economic Storm Clouds Gather, but Ending the Fed Provides Hope

[oyarde]

If I was a mod I would lock this thread .

 

[NorthCarolinaLiberty]

First, the Dollar is the sovereign currency of the United States.

The word "dollar" in not capitalized.

So yes, the currency created in the US by the government are called "dollars" and use this symbol "$"

There are plenty of other countries that use the word "dollar" and the dollar sign for their currencies. The word "dollar" is also used in business names (e.g., Dollar General, Dollar Rent a Car, etc.). "Dollar" is also a geographic name. The dollar sign is used in computer programming, operating systems, and apps. I know of at least two animals with the word "dollar" in their name. And, of course, the name is used in two--like--totally awesome Clint Eastwood movies.

 

[DamianTV]

I was tempted to read your long winded posts. You seem very confident in what you are saying. I saw lots of charts and graphs. I thought maybe there was something there. Then I see that quote as a response to what I said. I'll pass.

I post longwinded stuff too... And no, Im not always right either, so Im glad when you guys call me out on it.

 

[Danke]

I don't know all the specifics of the case, but I agree, "domestic terrorism" is talking things a bit far.




First, the Dollar is the sovereign currency of the United States. Confusingly, we call our currency the dollar and we refer to specific denominations as dollars.

In China, they call their currency the Renminbi and the specific units as Yuan.

So yes, the currency created in the US by the government are called "dollars" and use this symbol "$"

Best to leave out elements found on US dollars just to be safe (except the numbers of course).

In the end I think it really matters more in how he tried to use his currency rather than the fact that he made it.


Here is a long list of private currencies.

A Dollar is defined in the Constitution, and it isn't what the Private Corporation called the Federal Reserve issues.

 

[NorthCarolinaLiberty]

So you can't hold up your end with an actual conversation...

You're not exactly holding a conversation.

Define troll for me?

Someone who gets paid to disrupt a forum, and also claims to support the forum mission by placing the words "supporting member" in his profile avatar. Believe it or not, there's a crapload of lying paid posters on this site.

...he may even see the value in the things Ron Paul has tried to teach us, if given a chance to do so.

......seemingly willing to learn things along the way.

I don't think so, but knock yourself out.

So, we have a person trying to discuss the thread topic in a straightforward and honest manner, and seemingly willing to learn things along the way. And we have someone else popping up to talk about something other than the thread topic--say, for example, whether this website should be for debate or political activism. Who is the actual troll in that particular thread?

Dude, I've been known to troll my own threads. Haven't you ever had a conversation in your life where someone changed the subject? Maybe they came back to the subject, or maybe the conversation evolved. That's fairly normal.












'

 

[Krugminator2]

I post longwinded stuff too... And no, Im not always right either, so Im glad when you guys call me out on it.

But he was wrong about everything. He thought monetarists believe printing lots of money always caused inflation. That isn't true at all. I posted a piece by Milton Friedman advocating QE when rates are zero where he pointed out you can print as much money as you want and not cause inflation. That's pretty big error not to know that. But then even after I posted it, he still didn't grasp that point.

But having strong opinions about monetarism while at the same time using Peter Schiff (Austrian) as an example of what monetarists believe means you are just making shit up.

 

[DamianTV]

But he was wrong about everything. He thought monetarists believe printing lots of money always caused inflation. That isn't true at all. I posted a piece by Milton Friedman advocating QE when rates are zero where he pointed out you can print as much money as you want and not cause inflation. That's pretty big error not to know that. But then even after I posted it, he still didn't grasp that point.

But having strong opinions about monetarism while at the same time using Peter Schiff (Austrian) as an example of what monetarists believe means you are just making shit up.

There are arguments that can be made that always seem legit to to their respective sides. Were you around a couple of years ago when we had another guy continue to argue that the idea of charging interest without any risk was not immoral?

 

[NorthCarolinaLiberty]

I don't know all the specifics of the case, but I agree, "domestic terrorism" is talking things a bit far.

Stretch implies a quantitative difference. I think this is a qualitative difference. Creating his own currency is not "domestic terrorism" by any stretch of the imagination.

So, if you're on the jury, do you vote to convict him for making his own currency?

 

[Krugminator2]

Were you around a couple of years ago when we had another guy continue to argue that the idea of charging interest without any risk was not immoral?

Why would it be immoral? If you loan someone money, you are a providing a service. If you loan someone money you are giving up use of that money for yourself and the interest is your compensation for delaying current consumption.

 

[Zippyjuan]

It appears that I don't fully understand how the rep system works (first time I've seen it and, obviously I don't have access to it yet). That comment may not have been directed at me?

If that's the case, boy am I embarrassed...lol

Apologies to you Zippy if that's the case

Thank you. It was in reference to the person you were quoting.

 

[Danke]

But he was wrong about everything. He thought monetarists believe printing lots of money always caused inflation. That isn't true at all. I posted a piece by Milton Friedman advocating QE when rates are zero where he pointed out you can print as much money as you want and not cause inflation. That's pretty big error not to know that. But then even after I posted it, he still didn't grasp that point.

But having strong opinions about monetarism while at the same time using Peter Schiff (Austrian) as an example of what monetarists believe means you are just making shit up.

You are not seeing obvious inflation, but it is still there. We should be experiencing massive deflation thoughtout the years with our huge gains in productivity.

But we don't.


And that is the trick they play upon us.

 

[Zippyjuan]

A Dollar is defined in the Constitution, and it isn't what the Private Corporation called the Federal Reserve issues.

What is the definition of a dollar in the US Constitution?

https://deanclancy.com/the-constitutions-seven-money-clauses/

The Seven Money Clauses

“Congress shall have Power … To borrow Money on the credit of the United States[.]” Art. I, sec. 8, cl. 2.

“Congress shall have Power … To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures[.]” Art. I, sec. 8, cl. 5.

“Congress shall have Power … To provide for the Punishment of counterfeiting the Securities and current Coin of the United States[.]” Art. I, sec. 8, cl. 6.

“No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law[.]” Art. I, sec. 9, cl. 7.

“The Migration or Importation of such Persons as any of the States now existing shall think proper to admit, shall not be prohibited by the Congress prior to the Year one thousand eight hundred and eight, but a tax or duty may be imposed on such Importation, not exceeding ten dollars for each Person.” Art. I, sec. 9, cl. 1.

“No State shall … coin money; emit bills of credit; [or] make any Thing but gold and silver coin a Tender in Payment of Debts[.]” Art. I, sec. 10, cl. 1.

“In Suits at common law, where the value in controversy shall exceed twenty dollars, the right of trial by jury shall be preserved[.]” Amdt. VII.

 

[Zippyjuan]

You are not seeing obvious inflation, but it is still there. We should be experiencing massive deflation thoughtout the years with our huge gains in productivity.

But we don't.


And that is the trick they play upon us.

The gains from increases in productivity have a few places they can go. One is to the owners of capital- the people who own/ run the company producing the goods. They can retain the gains in the form of profits for themselves.

Second, they can go to the workers in the form of higher wages or more benefits.

Or third, it can be passed along in the form of lower prices. Most of the money has been flowing to the owners of capital- the rich getting richer.

 

[Danke]

Saving for the future is dollars that get stronger with deflation helps the working class. No capital gains. They only throw us a bone with a portion of our income being tax free in such instruments as 401Ks, etc. But still have to pay taxes on it when you withdraw and the dollar is worth much less by then anyway.

 

[NorthCarolinaLiberty]

Thank you. It was in reference to the person you were quoting.

And look who shows up. Yeah, you must be here to "debate" and "provide information." You got some nerve, I guess. LOL

 

[NorthCarolinaLiberty]

Most of the money has been flowing to the owners of capital- the rich getting richer.

--Employee compensation
--Corporate profits

People who work in corporate buildings downtown aren't employees? Owners don't work?

 

[acptulsa]

People who work in corporate buildings downtown aren't employees? Owners don't work?

Do all stockholders work? Do they all work for the company they've invested in?

No and no, respectively. Why do you ask? Just to call attention to yourself by using any lame excuse you can to snipe at Zippy?

 

[NorthCarolinaLiberty]

Do all stockholders work?

They don't research companies in which to invest? They don't trade? That's not work? Their money doesn't work for the company?

Does that check they send in magically write itself? Does that regulatory paperwork and taxes they do materialize from thin air?

And I'm not the one who gets paid to post on this forum. You've even acknowledged that.

 

[acptulsa]

They don't research companies in which to invest? They don't trade? That's not work? Their money doesn't work for the company?

Does that check they send in magically write itself? Does that regulatory paperwork and taxes they do materialize from thin air?

And they get an office and a salary for that? Keep reaching. God forbid you admit that actually was just a knee jerk snipe at Zippy.

And I'm not the one who gets paid to post on this forum. You've even acknowledged that.

I did? T00b or it didn't happen. But start another thread for it--this one doesn't deserve to be hijacked.

 

[NorthCarolinaLiberty]

And they get an office and a salary for that? Keep reaching.

You said "work." Keep reaching yourself.

God forbid you admit that actually was just a knee jerk snipe at Zippy.

Did I insult your girlfriend?

I did?

You say it all the time. You say he works for the federal reserve.

But start another thread for it--this one doesn't deserve to be hijacked.

Oh, boo hoo. Get off your fat ass for just one day and go outside.