Pro-Hillary Media Bias

[EyeBRollin]

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The sum of US debt is precisely the sum of the deficits (the accumulated debt) financed by issuing US Treasury Bonds.

Correct! No one argued otherwise. You seem to think that it is investors and taxpayers that "give" the U.S. Government money, which is a undeniably false. The U.S. government has no money. Spending is done by creating the budget and wiring the funds into accounts through the banking system.

 

[Tictac]

Correct! No one argued otherwise. You seem to think that it is investors and taxpayers that "give" the U.S. Government money, which is a undeniably false. The U.S. government has no money. Spending is done by creating the budget and wiring the funds into accounts through the banking system.

Where did the funds come from genius? "Currency"? Laughable magic still? You think little gnomes somewhere in DC run printing presses and walk around with truckloads of cash to pay for federal purchases.

You are right about this only - the U.S. Government has no money. The federal government has only two sources of funds: 1) tax revenue, 2) debt proceeds.

You don't know the difference between cash, currency, capital or revenue. To you federal financing is 'magic'.

Typing the words 'undeniably false' makes you a fool. Because you cannot prove that there are any other sources of funds to the federal government other than tax and debt proceeds.

I'm sorry you believe in fairy dust. But that's your problem.

 

[EyeBRollin]

Where did the funds come from genius? "Currency"? Laughable magic still? You think little gnomes somewhere in DC run printing presses and walk around with truckloads of cash to pay for federal purchases.

The funds came from wiring the check into the checking accounts. Poof.

Yes, it literally came out of thin air. Specifically, a keyboard stroke.

You are right about this only - the U.S. Government has no money. The federal government has only two sources of funds: 1) tax revenue, 2) debt proceeds.

Nope. The government has not ever and will not ever need "tax revenue" or "debt proceeds" to fund programs. It spends money by issuing currency.

You don't know the difference between cash, currency, capital or revenue. To you federal financing is 'magic'.

It IS magic.

Fiat currency has value because of law. The U.S. government can make the U.S. dollar equal to a partridge and a pear tree if it so desires. That is the very definition of monetary sovereignty.

Because you cannot prove that there are any other sources of funds to the federal government other than tax and debt proceeds.
.

We're back to this again?

Don't take it from me.....

Read.
“The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default.” Alan Greenspan

"It's not tax money. The banks have accounts with the Fed, much the same way that you have an account in a commercial bank. So, to lend to a bank, we simply use the computer to mark up the size of the account that they have with the Fed. It's much more akin to printing money than it is to borrowing." Ben Bernanke

“Well, I wouldn’t say that the pay-as-you-go benefits are insecure, in the sense that there’s nothing to prevent the federal government from creating as much money as it wants and paying it to somebody." Alan Greenspan

Nothing more needs to be said on this topic.

 

[Tictac]

You believe in magic as children do.

I made a fool of you twice by explaining to you twice that the British Pound collapsed as a sovereign and global reserve currency in 1976 when its creditors refused to accept its currency as payment.

You act like that is not a historical fact only 40 years old. And yet, even you could read it if you wanted. You, like a child, prefer magic and denial.

So quote Fed Chairmen spouting 'I do believe in spooks, I do believe in spooks' all you like. Appeals to authority are just another logical fallacy you spew out when you stand upon the nothing you type here.

I asked you for any proof that the federal government has any source of funds other than tax revenue and debt proceeds. You demurred because you cannot.

Again, you are dismissed Pee Wee.

 

[EyeBRollin]

So quote Fed Chairmen spouting 'I do believe in spooks, I do believe in spooks' all you like. Appeals to authority are just another logical fallacy you spew out when you stand upon the nothing you type here..

Are you willing to call both Fed Chairmen liars? One of whom is shown on record in a proceeding...

 

[Tictac]

Are you willing to call both Fed Chairmen liars? One of whom is shown in a proceeding...

They, like you, believe in spooks or at least say they do for public purposes. But they are much better paid than you.

They are mouthpieces for the private U.S. Banking system. The U.S. Federal Reserve is a private membership organization. They, and especially their chairpersons talk their book.

Your pathetic appeal to authority falls flat Pee Wee.

 

[Bible_Belt]

http://www.nbcnews.com/politics/fir...t-poll-shows-grim-outlook-2016-winner-n557821

Poll Shows Grim Outlook for 2016 Winner

 

[EyeBRollin]

They, like you, believe in spooks or at least say they do for public purposes. But they are much better paid than you.

They are mouthpieces for the private U.S. Banking system. The U.S. Federal Reserve is a private membership organization. They, and especially their chairpersons talk their book.

Oh jeez. The Fed is not "private."

 

[EyeBRollin]

http://www.nbcnews.com/politics/fir...t-poll-shows-grim-outlook-2016-winner-n557821

Poll Shows Grim Outlook for 2016 Winner

Yep!

What a ****show.

 

[EyeBRollin]

If inflation is a function of energy prices, again I ask how the price of oil impacted the inflation experienced by the Roman Empire.

The Roman Empire was before 1971.

 

[Asmodeus]

This is still going on....

 

[EyeBRollin]

And why is that relevant to your argument that the key to inflation is oil?

What happened in 1971?

 

[Tictac]

Oh jeez. The Fed is not "private."

It is a private membership corporation chartered by the federal government. It is not part of the federal government. There are no federal employees on its board or its payroll. The influence the federal government has on the Fed is Presidential confirmation of the chairman proposed by Federal Reserve members and semi-annual 'Humphrey-Hawkins' session with each house of Congress.

You really don't know sh*t do you except from the lunatics that poured all that sh*t into your head. Get better friends Pee Wee.

Like everything else I've told you, it's available from many high veracity sources.

 

[EyeBRollin]

It is a private membership corporation chartered by the federal government. It is not part of the federal government. There are no federal employees on its board or its payroll. The influence the federal government has on the Fed is Presidential confirmation of the chairman proposed by Federal Reserve members and semi-annual 'Humphrey-Hawkins' session with each house of Congress.

It's an independent entity within the government, yes. Profit-making corporation? No.

I
You really don't know sh*t do you except from the lunatics that poured all that sh*t into your head. Get better friends Pee Wee.

Like everything else I've told you, it's available from many high veracity sources.

It must be hard to cling to watch your right-wing fallacies fail over and over again.

Government is an extension of the society we vote for. Your government sucks because you want it to. Things will get better when your generation is gone. You've ruined enough lives and countries.

 

[EyeBRollin]

He is referencing breton woods and the closure of the gold redemtion window, but he still has to explain the entire relevance behind his theory and why it does not apply to other cases. At this point he is just dodging and weaving.

Departure from gold-standard is not relevant to modern money?

.......elaborate, please.

 

[EyeBRollin]

I made no such statement, but nice dodge.

YOU however have to show the relevance since you brought it up as an answer to the question on Rome's inflation.

Countries no longer use currency that is backed by tangible assets since divorcing from gold in 1971. The currency itself represents the value of goods and services of the country's economy, but it is just a point system with which they float against one another. If a loaf of bread is made to be $1 billion tomorrow, it has no effect on the United States' ability to pay any of its bills. It simply means creditors will be extremely pissed off when the U.S. debt they invested in doesn't get them anything in any kind of trade or exchange.

Default from a monetary sovereign government is a political choice, not an economic necessity.

 

[Tictac]

Profit-making corporation? No.

I didn't say 'profit making' - you did. Put words in your own mouth Pee Wee.
Nice to omit that the Fed is a private corporation, not part of the Fedrral government which is what I said. It has no federal representation on its board and no federal employees on its payroll.

As you like to say 'Ooof'.

The rest of what you tried to type has nothing to do with the the quote you posted dufus.

I am weary of your Institute of Applied Moronics antics Pee Wee. You should get your money back from whoever pretended to educate you. You argue as a marginal child.

You are dismissed.

 

[EyeBRollin]

So what exactly does that have to do with my original question?

If inflation is a function of energy prices as you claim, again I ask how the price of oil impacted the inflation experienced by the Roman Empire.

Again, you're inserting a strawman argument. This entire monetary discussion has the context of post-1971, which was established earlier in the thread.

 

[EyeBRollin]

Back then energy = slaves. Maybe the price spiked.

Ha! Reps.

Well done.

 

[Bible_Belt]

Super PAC spends $1 million to pay people to pretend to support Hillary on the Internet:

http://www.pastemagazine.com/articl...intons-super-pac-taking-a-page-from-vlad.html