Ron Paul slams Bernanke Today…

[contraman]

Ron Paul schooled Bernanke today during the Chairman’s testimony before congress. Bernanke sat there and took it like a man and then agreed with him about inflation…..

I bet you big Ben wishes this guy would just line up and play dumb like the rest of them…..

It’s time for a Revolution!

<http://www.youtube.com/watch?v=gldETRlhiXk>

[barnaby33]

What, no video link?
Josh

[GoUSC]

I shall provide! 🙂

http://www.youtube.com/watch?v=gldETRlhiXk

[barnaby33]

I was just about to, you beat me to it Radelow!

What I so seriously dislike about Ron Paul is that he doesn’t really ask a question, he rants. At the very end of his rant he asks a leading question. This is why Bernanke and the FED must love him. He makes people who dislike fiat currencies seem like loonies. If you could just engage in a clear headed debate with BOB and put that on youtube, it would probably get a lot more, and more serious attention.
Josh

[HereWeGo]

Amen, josh.

[HereWeGo]

Amen, josh.

[HereWeGo]

Amen, josh.

[HereWeGo]

Amen, josh.

[HereWeGo]

Amen, josh.

[barnaby33]

I was just about to, you beat me to it Radelow!

What I so seriously dislike about Ron Paul is that he doesn’t really ask a question, he rants. At the very end of his rant he asks a leading question. This is why Bernanke and the FED must love him. He makes people who dislike fiat currencies seem like loonies. If you could just engage in a clear headed debate with BOB and put that on youtube, it would probably get a lot more, and more serious attention.
Josh

[barnaby33]

I was just about to, you beat me to it Radelow!

What I so seriously dislike about Ron Paul is that he doesn’t really ask a question, he rants. At the very end of his rant he asks a leading question. This is why Bernanke and the FED must love him. He makes people who dislike fiat currencies seem like loonies. If you could just engage in a clear headed debate with BOB and put that on youtube, it would probably get a lot more, and more serious attention.
Josh

[barnaby33]

I was just about to, you beat me to it Radelow!

What I so seriously dislike about Ron Paul is that he doesn’t really ask a question, he rants. At the very end of his rant he asks a leading question. This is why Bernanke and the FED must love him. He makes people who dislike fiat currencies seem like loonies. If you could just engage in a clear headed debate with BOB and put that on youtube, it would probably get a lot more, and more serious attention.
Josh

[barnaby33]

I was just about to, you beat me to it Radelow!

What I so seriously dislike about Ron Paul is that he doesn’t really ask a question, he rants. At the very end of his rant he asks a leading question. This is why Bernanke and the FED must love him. He makes people who dislike fiat currencies seem like loonies. If you could just engage in a clear headed debate with BOB and put that on youtube, it would probably get a lot more, and more serious attention.
Josh

[GoUSC]

I shall provide! 🙂

http://www.youtube.com/watch?v=gldETRlhiXk

[GoUSC]

I shall provide! 🙂

http://www.youtube.com/watch?v=gldETRlhiXk

[GoUSC]

I shall provide! 🙂

http://www.youtube.com/watch?v=gldETRlhiXk

[GoUSC]

I shall provide! 🙂

http://www.youtube.com/watch?v=gldETRlhiXk

[barnaby33]

What, no video link?
Josh

[barnaby33]

What, no video link?
Josh

[barnaby33]

What, no video link?
Josh

[barnaby33]

What, no video link?
Josh

[bsrsharma]

Congressman Paul is an intelligent man; but to say that an obstetrician by training “schooled” Bernanke, an ex Princeton professor and author of textbooks on monitary policy is sheer chutzpah!

[contraman]

Sharma,

I hope you have experienced enough of life to realize that just because someone goes to an IVY league school and authors books doesn’t mean they can’t be swayed to do the wrong thing.

Benny and the boys have to do what’s best for WALL STREET and the elections….they are puppets that are ignoring the facts of INFLATION present at very high levels. They rig the CPI and don’t keep track of all the money they print….

Do you keep track of your money Sharma? You know SMART people that write books and stuff should do that right?

Would you be happy if your wife didn’t keep track of spent money?

I know a lot of “HIGHLY EDUCATED” people that do the wrong things when they know what the right (educated) thing is to do in a situation.

I bet your going to tell me Greenspan is a smart guy to and just wrote a book about how HE WASN’T AWARE THAT THE SUBPRIME MARKET WAS THAT BAD? and that EVERYONE SHOULD GET INTO SHORT TERM ARMS…..amongst other stupid suggestions….yea…that education really paid off….

I would venture to say that many people on this site know as much about economic policy and various theories as the clowns at the FED without an education from Princeton.

Sincerely, Contraman

[contraman]

Sharma,

I hope you have experienced enough of life to realize that just because someone goes to an IVY league school and authors books doesn’t mean they can’t be swayed to do the wrong thing.

Benny and the boys have to do what’s best for WALL STREET and the elections….they are puppets that are ignoring the facts of INFLATION present at very high levels. They rig the CPI and don’t keep track of all the money they print….

Do you keep track of your money Sharma? You know SMART people that write books and stuff should do that right?

Would you be happy if your wife didn’t keep track of spent money?

I know a lot of “HIGHLY EDUCATED” people that do the wrong things when they know what the right (educated) thing is to do in a situation.

I bet your going to tell me Greenspan is a smart guy to and just wrote a book about how HE WASN’T AWARE THAT THE SUBPRIME MARKET WAS THAT BAD? and that EVERYONE SHOULD GET INTO SHORT TERM ARMS…..amongst other stupid suggestions….yea…that education really paid off….

I would venture to say that many people on this site know as much about economic policy and various theories as the clowns at the FED without an education from Princeton.

Sincerely, Contraman

[contraman]

Sharma,

I hope you have experienced enough of life to realize that just because someone goes to an IVY league school and authors books doesn’t mean they can’t be swayed to do the wrong thing.

Benny and the boys have to do what’s best for WALL STREET and the elections….they are puppets that are ignoring the facts of INFLATION present at very high levels. They rig the CPI and don’t keep track of all the money they print….

Do you keep track of your money Sharma? You know SMART people that write books and stuff should do that right?

Would you be happy if your wife didn’t keep track of spent money?

I know a lot of “HIGHLY EDUCATED” people that do the wrong things when they know what the right (educated) thing is to do in a situation.

I bet your going to tell me Greenspan is a smart guy to and just wrote a book about how HE WASN’T AWARE THAT THE SUBPRIME MARKET WAS THAT BAD? and that EVERYONE SHOULD GET INTO SHORT TERM ARMS…..amongst other stupid suggestions….yea…that education really paid off….

I would venture to say that many people on this site know as much about economic policy and various theories as the clowns at the FED without an education from Princeton.

Sincerely, Contraman

[contraman]

Sharma,

I hope you have experienced enough of life to realize that just because someone goes to an IVY league school and authors books doesn’t mean they can’t be swayed to do the wrong thing.

Benny and the boys have to do what’s best for WALL STREET and the elections….they are puppets that are ignoring the facts of INFLATION present at very high levels. They rig the CPI and don’t keep track of all the money they print….

Do you keep track of your money Sharma? You know SMART people that write books and stuff should do that right?

Would you be happy if your wife didn’t keep track of spent money?

I know a lot of “HIGHLY EDUCATED” people that do the wrong things when they know what the right (educated) thing is to do in a situation.

I bet your going to tell me Greenspan is a smart guy to and just wrote a book about how HE WASN’T AWARE THAT THE SUBPRIME MARKET WAS THAT BAD? and that EVERYONE SHOULD GET INTO SHORT TERM ARMS…..amongst other stupid suggestions….yea…that education really paid off….

I would venture to say that many people on this site know as much about economic policy and various theories as the clowns at the FED without an education from Princeton.

Sincerely, Contraman

[contraman]

Sharma,

I hope you have experienced enough of life to realize that just because someone goes to an IVY league school and authors books doesn’t mean they can’t be swayed to do the wrong thing.

Benny and the boys have to do what’s best for WALL STREET and the elections….they are puppets that are ignoring the facts of INFLATION present at very high levels. They rig the CPI and don’t keep track of all the money they print….

Do you keep track of your money Sharma? You know SMART people that write books and stuff should do that right?

Would you be happy if your wife didn’t keep track of spent money?

I know a lot of “HIGHLY EDUCATED” people that do the wrong things when they know what the right (educated) thing is to do in a situation.

I bet your going to tell me Greenspan is a smart guy to and just wrote a book about how HE WASN’T AWARE THAT THE SUBPRIME MARKET WAS THAT BAD? and that EVERYONE SHOULD GET INTO SHORT TERM ARMS…..amongst other stupid suggestions….yea…that education really paid off….

I would venture to say that many people on this site know as much about economic policy and various theories as the clowns at the FED without an education from Princeton.

Sincerely, Contraman

[bsrsharma]

Congressman Paul is an intelligent man; but to say that an obstetrician by training “schooled” Bernanke, an ex Princeton professor and author of textbooks on monitary policy is sheer chutzpah!

[bsrsharma]

Congressman Paul is an intelligent man; but to say that an obstetrician by training “schooled” Bernanke, an ex Princeton professor and author of textbooks on monitary policy is sheer chutzpah!

[bsrsharma]

Congressman Paul is an intelligent man; but to say that an obstetrician by training “schooled” Bernanke, an ex Princeton professor and author of textbooks on monitary policy is sheer chutzpah!

[bsrsharma]

Congressman Paul is an intelligent man; but to say that an obstetrician by training “schooled” Bernanke, an ex Princeton professor and author of textbooks on monitary policy is sheer chutzpah!

[Eugene]

Is that news?

Now when Ron Paul announces that he’s Ben Bernanke’s new best friend, THAT I want to hear.

[Eugene]

Is that news?

Now when Ron Paul announces that he’s Ben Bernanke’s new best friend, THAT I want to hear.

[Eugene]

Is that news?

Now when Ron Paul announces that he’s Ben Bernanke’s new best friend, THAT I want to hear.

[Eugene]

Is that news?

Now when Ron Paul announces that he’s Ben Bernanke’s new best friend, THAT I want to hear.

[Eugene]

Is that news?

Now when Ron Paul announces that he’s Ben Bernanke’s new best friend, THAT I want to hear.

[kewp]

Bernake has been restricting the money supply since last August. The current inflation is just a side-effect of the previous hangover plus loose credit markets.

[barnaby33]

kewp, I think it would be more accurate to say, the inflation through credit creation has already occurred. What is happening right this instant is that the FED is sucking liquidity away from the big banks who were just hoarding it or buying stocks with it, to get it to smaller institutions via the TAF. All of this is being done to slow the deflation that is occurring through correspondent credit contraction. Why we are finally seeing prices rise, what most people think of as inflation, is that all of that exported inflation to you-know-where is starting to come home to roost.

Which do you think will kill the economy first, re-imported inflation, or credit contraction deflation? My votes on the second.

Josh

[kewp]

Ugh, this is making my head hurt.

I think whats going to kill the economy is the inflation/deflation 2-hit combo.

Our economy is driven by discretionary consumption financed via cheap credit. Once inflation pushes up the prices of food/energy and deflation removes the ability to even finance that, its game over. Unemployment goes up, consumption goes down and the cycle feeds on itself.

[greekfire]

I am no expert on Congressional testimonial sessions, but I don’t think it lends itself to a debate-style exchange of ideas. Committee members make their remarks, Mr. Bernanke gets to speak X minutes, the committee members give their responses/questions (all timed), and those testifying answer. Very structured, very formal. Ron Paul knows that everything said at these meetings is a matter of public record and he is trying to prove a point – our current fiat monetary system is failing, and will only get worse. We can’t expect to constantly print money on a whim and not suffer the effects of inflation and debasement of the dollar.

[greekfire]

I am no expert on Congressional testimonial sessions, but I don’t think it lends itself to a debate-style exchange of ideas. Committee members make their remarks, Mr. Bernanke gets to speak X minutes, the committee members give their responses/questions (all timed), and those testifying answer. Very structured, very formal. Ron Paul knows that everything said at these meetings is a matter of public record and he is trying to prove a point – our current fiat monetary system is failing, and will only get worse. We can’t expect to constantly print money on a whim and not suffer the effects of inflation and debasement of the dollar.

[greekfire]

I am no expert on Congressional testimonial sessions, but I don’t think it lends itself to a debate-style exchange of ideas. Committee members make their remarks, Mr. Bernanke gets to speak X minutes, the committee members give their responses/questions (all timed), and those testifying answer. Very structured, very formal. Ron Paul knows that everything said at these meetings is a matter of public record and he is trying to prove a point – our current fiat monetary system is failing, and will only get worse. We can’t expect to constantly print money on a whim and not suffer the effects of inflation and debasement of the dollar.

[greekfire]

I am no expert on Congressional testimonial sessions, but I don’t think it lends itself to a debate-style exchange of ideas. Committee members make their remarks, Mr. Bernanke gets to speak X minutes, the committee members give their responses/questions (all timed), and those testifying answer. Very structured, very formal. Ron Paul knows that everything said at these meetings is a matter of public record and he is trying to prove a point – our current fiat monetary system is failing, and will only get worse. We can’t expect to constantly print money on a whim and not suffer the effects of inflation and debasement of the dollar.

[greekfire]

I am no expert on Congressional testimonial sessions, but I don’t think it lends itself to a debate-style exchange of ideas. Committee members make their remarks, Mr. Bernanke gets to speak X minutes, the committee members give their responses/questions (all timed), and those testifying answer. Very structured, very formal. Ron Paul knows that everything said at these meetings is a matter of public record and he is trying to prove a point – our current fiat monetary system is failing, and will only get worse. We can’t expect to constantly print money on a whim and not suffer the effects of inflation and debasement of the dollar.

[gdcox]

Well this guy was right to raise the issues BUT these seeds were sown by Greenspan and Congress in the early 2000’s when rates were kept too low for too long. With that inheritance and the rise of China etc all , a surging commodity boom has been unavoidable and with it a fall in the standard of living for the US and the UK where I live. I am re-modelling my houe and when i first discussed plans it was going to cost about $140K and now it will be more like $200 K all due to the surge of commodities (should have bought gold futures !) .

The Bernanke Fed did not cause the present problem at all and he cannot but lower rates. He missed a major trick though by not reminding Paul that the Fed is required by Congress to keep growth going , so inflation fighting is undertaken with one hand tied behind the back.

[gdcox]

Well this guy was right to raise the issues BUT these seeds were sown by Greenspan and Congress in the early 2000’s when rates were kept too low for too long. With that inheritance and the rise of China etc all , a surging commodity boom has been unavoidable and with it a fall in the standard of living for the US and the UK where I live. I am re-modelling my houe and when i first discussed plans it was going to cost about $140K and now it will be more like $200 K all due to the surge of commodities (should have bought gold futures !) .

The Bernanke Fed did not cause the present problem at all and he cannot but lower rates. He missed a major trick though by not reminding Paul that the Fed is required by Congress to keep growth going , so inflation fighting is undertaken with one hand tied behind the back.

[gdcox]

Well this guy was right to raise the issues BUT these seeds were sown by Greenspan and Congress in the early 2000’s when rates were kept too low for too long. With that inheritance and the rise of China etc all , a surging commodity boom has been unavoidable and with it a fall in the standard of living for the US and the UK where I live. I am re-modelling my houe and when i first discussed plans it was going to cost about $140K and now it will be more like $200 K all due to the surge of commodities (should have bought gold futures !) .

The Bernanke Fed did not cause the present problem at all and he cannot but lower rates. He missed a major trick though by not reminding Paul that the Fed is required by Congress to keep growth going , so inflation fighting is undertaken with one hand tied behind the back.

[gdcox]

Well this guy was right to raise the issues BUT these seeds were sown by Greenspan and Congress in the early 2000’s when rates were kept too low for too long. With that inheritance and the rise of China etc all , a surging commodity boom has been unavoidable and with it a fall in the standard of living for the US and the UK where I live. I am re-modelling my houe and when i first discussed plans it was going to cost about $140K and now it will be more like $200 K all due to the surge of commodities (should have bought gold futures !) .

The Bernanke Fed did not cause the present problem at all and he cannot but lower rates. He missed a major trick though by not reminding Paul that the Fed is required by Congress to keep growth going , so inflation fighting is undertaken with one hand tied behind the back.

[gdcox]

Well this guy was right to raise the issues BUT these seeds were sown by Greenspan and Congress in the early 2000’s when rates were kept too low for too long. With that inheritance and the rise of China etc all , a surging commodity boom has been unavoidable and with it a fall in the standard of living for the US and the UK where I live. I am re-modelling my houe and when i first discussed plans it was going to cost about $140K and now it will be more like $200 K all due to the surge of commodities (should have bought gold futures !) .

The Bernanke Fed did not cause the present problem at all and he cannot but lower rates. He missed a major trick though by not reminding Paul that the Fed is required by Congress to keep growth going , so inflation fighting is undertaken with one hand tied behind the back.

[kewp]

Ugh, this is making my head hurt.

I think whats going to kill the economy is the inflation/deflation 2-hit combo.

Our economy is driven by discretionary consumption financed via cheap credit. Once inflation pushes up the prices of food/energy and deflation removes the ability to even finance that, its game over. Unemployment goes up, consumption goes down and the cycle feeds on itself.

[kewp]

Ugh, this is making my head hurt.

I think whats going to kill the economy is the inflation/deflation 2-hit combo.

Our economy is driven by discretionary consumption financed via cheap credit. Once inflation pushes up the prices of food/energy and deflation removes the ability to even finance that, its game over. Unemployment goes up, consumption goes down and the cycle feeds on itself.

[kewp]

Ugh, this is making my head hurt.

I think whats going to kill the economy is the inflation/deflation 2-hit combo.

Our economy is driven by discretionary consumption financed via cheap credit. Once inflation pushes up the prices of food/energy and deflation removes the ability to even finance that, its game over. Unemployment goes up, consumption goes down and the cycle feeds on itself.

[kewp]

Ugh, this is making my head hurt.

I think whats going to kill the economy is the inflation/deflation 2-hit combo.

Our economy is driven by discretionary consumption financed via cheap credit. Once inflation pushes up the prices of food/energy and deflation removes the ability to even finance that, its game over. Unemployment goes up, consumption goes down and the cycle feeds on itself.

[barnaby33]

kewp, I think it would be more accurate to say, the inflation through credit creation has already occurred. What is happening right this instant is that the FED is sucking liquidity away from the big banks who were just hoarding it or buying stocks with it, to get it to smaller institutions via the TAF. All of this is being done to slow the deflation that is occurring through correspondent credit contraction. Why we are finally seeing prices rise, what most people think of as inflation, is that all of that exported inflation to you-know-where is starting to come home to roost.

Which do you think will kill the economy first, re-imported inflation, or credit contraction deflation? My votes on the second.

Josh

[barnaby33]

kewp, I think it would be more accurate to say, the inflation through credit creation has already occurred. What is happening right this instant is that the FED is sucking liquidity away from the big banks who were just hoarding it or buying stocks with it, to get it to smaller institutions via the TAF. All of this is being done to slow the deflation that is occurring through correspondent credit contraction. Why we are finally seeing prices rise, what most people think of as inflation, is that all of that exported inflation to you-know-where is starting to come home to roost.

Which do you think will kill the economy first, re-imported inflation, or credit contraction deflation? My votes on the second.

Josh

[barnaby33]

kewp, I think it would be more accurate to say, the inflation through credit creation has already occurred. What is happening right this instant is that the FED is sucking liquidity away from the big banks who were just hoarding it or buying stocks with it, to get it to smaller institutions via the TAF. All of this is being done to slow the deflation that is occurring through correspondent credit contraction. Why we are finally seeing prices rise, what most people think of as inflation, is that all of that exported inflation to you-know-where is starting to come home to roost.

Which do you think will kill the economy first, re-imported inflation, or credit contraction deflation? My votes on the second.

Josh

[barnaby33]

kewp, I think it would be more accurate to say, the inflation through credit creation has already occurred. What is happening right this instant is that the FED is sucking liquidity away from the big banks who were just hoarding it or buying stocks with it, to get it to smaller institutions via the TAF. All of this is being done to slow the deflation that is occurring through correspondent credit contraction. Why we are finally seeing prices rise, what most people think of as inflation, is that all of that exported inflation to you-know-where is starting to come home to roost.

Which do you think will kill the economy first, re-imported inflation, or credit contraction deflation? My votes on the second.

Josh

[Mean Reversion]

Bernake has been restricting the money supply since last August. The current inflation is just a side-effect of the previous hangover plus loose credit markets.

Are you f*cking kidding me, kewp? The money supply has been restricted?? Do you know how this system works?

M2 increased $16.3 billion in the week ended Feb. 11, according to data released late Thursday by the Federal Reserve. M2 has advanced $139 billion to $7.585 trillion over the past four weeks, the most for any four weeks since September 2001, when it advanced $207 billion over a four-week span.

To bring the funds rate down, the Fed must do something: inject reserves into the banking system.

By increasing the supply of money, the price of money decreases, and that is how the Fed achieves a lower funds rate.

[Deal Hunter]

The most troubling part of the testimony was when Ben "assured" the rep from Illinois that the "[Dollar] is doing fine and that there is no question that the world accepts the U.S. Dollar are the reserve currency and will continue to respect it as such…"

Weird because that wasn't even the question the Rep asked.  He was asking Bernanke to explain t-bill spreads and why mortgage rates went up as the Fed funds went down.  Bernanke went completely around the explanation and just blurted that manure about the Dollar being strong.

Strange.

[Deal Hunter]

The most troubling part of the testimony was when Ben "assured" the rep from Illinois that the "[Dollar] is doing fine and that there is no question that the world accepts the U.S. Dollar are the reserve currency and will continue to respect it as such…"

Weird because that wasn't even the question the Rep asked.  He was asking Bernanke to explain t-bill spreads and why mortgage rates went up as the Fed funds went down.  Bernanke went completely around the explanation and just blurted that manure about the Dollar being strong.

Strange.

[Deal Hunter]

The most troubling part of the testimony was when Ben "assured" the rep from Illinois that the "[Dollar] is doing fine and that there is no question that the world accepts the U.S. Dollar are the reserve currency and will continue to respect it as such…"

Weird because that wasn't even the question the Rep asked.  He was asking Bernanke to explain t-bill spreads and why mortgage rates went up as the Fed funds went down.  Bernanke went completely around the explanation and just blurted that manure about the Dollar being strong.

Strange.

[Deal Hunter]

The most troubling part of the testimony was when Ben "assured" the rep from Illinois that the "[Dollar] is doing fine and that there is no question that the world accepts the U.S. Dollar are the reserve currency and will continue to respect it as such…"

Weird because that wasn't even the question the Rep asked.  He was asking Bernanke to explain t-bill spreads and why mortgage rates went up as the Fed funds went down.  Bernanke went completely around the explanation and just blurted that manure about the Dollar being strong.

Strange.

[Deal Hunter]

The most troubling part of the testimony was when Ben "assured" the rep from Illinois that the "[Dollar] is doing fine and that there is no question that the world accepts the U.S. Dollar are the reserve currency and will continue to respect it as such…"

Weird because that wasn't even the question the Rep asked.  He was asking Bernanke to explain t-bill spreads and why mortgage rates went up as the Fed funds went down.  Bernanke went completely around the explanation and just blurted that manure about the Dollar being strong.

Strange.

[kewp]

Do you know how this system works?

Sure do! Speaking of knowledge, do you know how to *not* act like a dick?

I don’t pay particularly close attention to what the Fed does, but I do check the ShadowStats site from time to time. See:

http://www.shadowstats.com/alternate_data

The M1 line has been sorta going downwards for awhile.

If the Fed is inflating again as of last week it won’t be visible there and is indeed news to me. Thanks for the heads up.

[greekfire]

Don’t you realize that all of this talk of M0, M1, M2, M3, etc., is all a charade to obfuscate and over-complicate the issue of a fiat monetary system versus one that is backed by tangible assets, such as gold and silver?

[Deal Hunter]

M3? Can you still get M3 data anywhere?

[greekfire]

I think the data surrounding M3 was absent for a while, but recently has been collected by a private corporation. I think the underlying point here is that paper (fiat) money should be backed by tangible assets such as gold and silver, rather than be printed out of thin air.

[Deal Hunter]

I’m fundamentally not bothered that money is printed out of thin air. What bothers me about monetary policy is that the money is not printed “debt-free.”

Abraham Lincoln printed money out of thin air, but he provided for the borrowed money/credit to be payable in full. For example: You need to borrow $100, so the Fed prints $100 and then charges you 10% interest on the money. This means that you have to come up with $110 dollars. Well, how the hell are you going to do that when only $100 was printed???? Where do you find the other $10? Hence in the current fiat system, the debt can NEVER be repaid.

Lincoln’s method was to print $110 dollars. Give you the $100 you need to borrow and spend the other $10 in your local economy. That way you can earn the $110 by conducting your business and deploying your investments in the local economy. When you earn the $110, you pay it back and your debt-free. Ta Da!

I know, where’s the profit for central banks in Lincoln’s crazy method? Hey, here’s a bit of money trivia for y’all. There were a handful of men in our history that have tried to pioneer a debt-free money system or opposed a private central bank: George Washington, Ben Franklin, Andrew Jackson, Abraham Lincoln and John F. Kennedy. All happen to be on our money! Cool, huh?

[greekfire]

"I'm fundamentally not bothered that money is printed out of thin air. What bothers me about monetary policy is that the money is not printed "debt-free."

Are you kidding me?  Abraham Lincoln printed money out of thin air because he had to fund a (Civil) war that he didn't have the funds in which to conduct without doing so.

The term "debt free" is totally relative.

[Deal Hunter]

I see your point.

But…. aren’t we in a couple of wars that need a bit of funding now as well??? Is it less bothersome to expand money for Iraq? Is that less irritating than expanding money to fund a collapsing domestic economy?

I guess so.

I don’t see how debt free is a relative term in this case. If I owe you $110 and I give you $110, then I don’t owe you anything anymore. When Guido said, “Lucco Brazi sleeps with the fishes.” They were even, that should have been the end of the movie!

[greekfire]

If the war is worth justifying, in terms of our national defense, then at least shouldn’t we have the courtesy of getting a declaration of war from our Congress, as is mandated in the Constitution.

Regarding the argument in the third paragraph of your last statement, the $110 that you owed me years ago is worth much less now. Now you owe me $150, and I want you to pay up now. The FED’s response is to simply print the money out of thin air. It just doesn’t work that way.

[greekfire]

If the war is worth justifying, in terms of our national defense, then at least shouldn’t we have the courtesy of getting a declaration of war from our Congress, as is mandated in the Constitution.

Regarding the argument in the third paragraph of your last statement, the $110 that you owed me years ago is worth much less now. Now you owe me $150, and I want you to pay up now. The FED’s response is to simply print the money out of thin air. It just doesn’t work that way.

[greekfire]

If the war is worth justifying, in terms of our national defense, then at least shouldn’t we have the courtesy of getting a declaration of war from our Congress, as is mandated in the Constitution.

Regarding the argument in the third paragraph of your last statement, the $110 that you owed me years ago is worth much less now. Now you owe me $150, and I want you to pay up now. The FED’s response is to simply print the money out of thin air. It just doesn’t work that way.

[greekfire]

If the war is worth justifying, in terms of our national defense, then at least shouldn’t we have the courtesy of getting a declaration of war from our Congress, as is mandated in the Constitution.

Regarding the argument in the third paragraph of your last statement, the $110 that you owed me years ago is worth much less now. Now you owe me $150, and I want you to pay up now. The FED’s response is to simply print the money out of thin air. It just doesn’t work that way.

[greekfire]

If the war is worth justifying, in terms of our national defense, then at least shouldn’t we have the courtesy of getting a declaration of war from our Congress, as is mandated in the Constitution.

Regarding the argument in the third paragraph of your last statement, the $110 that you owed me years ago is worth much less now. Now you owe me $150, and I want you to pay up now. The FED’s response is to simply print the money out of thin air. It just doesn’t work that way.

[Deal Hunter]

I see your point.

But…. aren’t we in a couple of wars that need a bit of funding now as well??? Is it less bothersome to expand money for Iraq? Is that less irritating than expanding money to fund a collapsing domestic economy?

I guess so.

I don’t see how debt free is a relative term in this case. If I owe you $110 and I give you $110, then I don’t owe you anything anymore. When Guido said, “Lucco Brazi sleeps with the fishes.” They were even, that should have been the end of the movie!

[Deal Hunter]

I see your point.

But…. aren’t we in a couple of wars that need a bit of funding now as well??? Is it less bothersome to expand money for Iraq? Is that less irritating than expanding money to fund a collapsing domestic economy?

I guess so.

I don’t see how debt free is a relative term in this case. If I owe you $110 and I give you $110, then I don’t owe you anything anymore. When Guido said, “Lucco Brazi sleeps with the fishes.” They were even, that should have been the end of the movie!

[Deal Hunter]

I see your point.

But…. aren’t we in a couple of wars that need a bit of funding now as well??? Is it less bothersome to expand money for Iraq? Is that less irritating than expanding money to fund a collapsing domestic economy?

I guess so.

I don’t see how debt free is a relative term in this case. If I owe you $110 and I give you $110, then I don’t owe you anything anymore. When Guido said, “Lucco Brazi sleeps with the fishes.” They were even, that should have been the end of the movie!

[Deal Hunter]

I see your point.

But…. aren’t we in a couple of wars that need a bit of funding now as well??? Is it less bothersome to expand money for Iraq? Is that less irritating than expanding money to fund a collapsing domestic economy?

I guess so.

I don’t see how debt free is a relative term in this case. If I owe you $110 and I give you $110, then I don’t owe you anything anymore. When Guido said, “Lucco Brazi sleeps with the fishes.” They were even, that should have been the end of the movie!

[gdcox]

Graham

‘Printing’ money is a cost to all as inflation rises (all other things constant).

Injecting money which is raised from higher government debt does not raise prices but lands all taxpayers with higher future taxes.

[gdcox]

Graham

‘Printing’ money is a cost to all as inflation rises (all other things constant).

Injecting money which is raised from higher government debt does not raise prices but lands all taxpayers with higher future taxes.

[gdcox]

Graham

‘Printing’ money is a cost to all as inflation rises (all other things constant).

Injecting money which is raised from higher government debt does not raise prices but lands all taxpayers with higher future taxes.

[gdcox]

Graham

‘Printing’ money is a cost to all as inflation rises (all other things constant).

Injecting money which is raised from higher government debt does not raise prices but lands all taxpayers with higher future taxes.

[gdcox]

Graham

‘Printing’ money is a cost to all as inflation rises (all other things constant).

Injecting money which is raised from higher government debt does not raise prices but lands all taxpayers with higher future taxes.

[greekfire]

"I'm fundamentally not bothered that money is printed out of thin air. What bothers me about monetary policy is that the money is not printed "debt-free."

Are you kidding me?  Abraham Lincoln printed money out of thin air because he had to fund a (Civil) war that he didn't have the funds in which to conduct without doing so.

The term "debt free" is totally relative.

[greekfire]

"I'm fundamentally not bothered that money is printed out of thin air. What bothers me about monetary policy is that the money is not printed "debt-free."

Are you kidding me?  Abraham Lincoln printed money out of thin air because he had to fund a (Civil) war that he didn't have the funds in which to conduct without doing so.

The term "debt free" is totally relative.

[greekfire]

"I'm fundamentally not bothered that money is printed out of thin air. What bothers me about monetary policy is that the money is not printed "debt-free."

Are you kidding me?  Abraham Lincoln printed money out of thin air because he had to fund a (Civil) war that he didn't have the funds in which to conduct without doing so.

The term "debt free" is totally relative.

[greekfire]

"I'm fundamentally not bothered that money is printed out of thin air. What bothers me about monetary policy is that the money is not printed "debt-free."

Are you kidding me?  Abraham Lincoln printed money out of thin air because he had to fund a (Civil) war that he didn't have the funds in which to conduct without doing so.

The term "debt free" is totally relative.

[Deal Hunter]

I’m fundamentally not bothered that money is printed out of thin air. What bothers me about monetary policy is that the money is not printed “debt-free.”

Abraham Lincoln printed money out of thin air, but he provided for the borrowed money/credit to be payable in full. For example: You need to borrow $100, so the Fed prints $100 and then charges you 10% interest on the money. This means that you have to come up with $110 dollars. Well, how the hell are you going to do that when only $100 was printed???? Where do you find the other $10? Hence in the current fiat system, the debt can NEVER be repaid.

Lincoln’s method was to print $110 dollars. Give you the $100 you need to borrow and spend the other $10 in your local economy. That way you can earn the $110 by conducting your business and deploying your investments in the local economy. When you earn the $110, you pay it back and your debt-free. Ta Da!

I know, where’s the profit for central banks in Lincoln’s crazy method? Hey, here’s a bit of money trivia for y’all. There were a handful of men in our history that have tried to pioneer a debt-free money system or opposed a private central bank: George Washington, Ben Franklin, Andrew Jackson, Abraham Lincoln and John F. Kennedy. All happen to be on our money! Cool, huh?

[Deal Hunter]

I’m fundamentally not bothered that money is printed out of thin air. What bothers me about monetary policy is that the money is not printed “debt-free.”

Abraham Lincoln printed money out of thin air, but he provided for the borrowed money/credit to be payable in full. For example: You need to borrow $100, so the Fed prints $100 and then charges you 10% interest on the money. This means that you have to come up with $110 dollars. Well, how the hell are you going to do that when only $100 was printed???? Where do you find the other $10? Hence in the current fiat system, the debt can NEVER be repaid.

Lincoln’s method was to print $110 dollars. Give you the $100 you need to borrow and spend the other $10 in your local economy. That way you can earn the $110 by conducting your business and deploying your investments in the local economy. When you earn the $110, you pay it back and your debt-free. Ta Da!

I know, where’s the profit for central banks in Lincoln’s crazy method? Hey, here’s a bit of money trivia for y’all. There were a handful of men in our history that have tried to pioneer a debt-free money system or opposed a private central bank: George Washington, Ben Franklin, Andrew Jackson, Abraham Lincoln and John F. Kennedy. All happen to be on our money! Cool, huh?

[Deal Hunter]

I’m fundamentally not bothered that money is printed out of thin air. What bothers me about monetary policy is that the money is not printed “debt-free.”

Abraham Lincoln printed money out of thin air, but he provided for the borrowed money/credit to be payable in full. For example: You need to borrow $100, so the Fed prints $100 and then charges you 10% interest on the money. This means that you have to come up with $110 dollars. Well, how the hell are you going to do that when only $100 was printed???? Where do you find the other $10? Hence in the current fiat system, the debt can NEVER be repaid.

Lincoln’s method was to print $110 dollars. Give you the $100 you need to borrow and spend the other $10 in your local economy. That way you can earn the $110 by conducting your business and deploying your investments in the local economy. When you earn the $110, you pay it back and your debt-free. Ta Da!

I know, where’s the profit for central banks in Lincoln’s crazy method? Hey, here’s a bit of money trivia for y’all. There were a handful of men in our history that have tried to pioneer a debt-free money system or opposed a private central bank: George Washington, Ben Franklin, Andrew Jackson, Abraham Lincoln and John F. Kennedy. All happen to be on our money! Cool, huh?

[Deal Hunter]

I’m fundamentally not bothered that money is printed out of thin air. What bothers me about monetary policy is that the money is not printed “debt-free.”

Abraham Lincoln printed money out of thin air, but he provided for the borrowed money/credit to be payable in full. For example: You need to borrow $100, so the Fed prints $100 and then charges you 10% interest on the money. This means that you have to come up with $110 dollars. Well, how the hell are you going to do that when only $100 was printed???? Where do you find the other $10? Hence in the current fiat system, the debt can NEVER be repaid.

Lincoln’s method was to print $110 dollars. Give you the $100 you need to borrow and spend the other $10 in your local economy. That way you can earn the $110 by conducting your business and deploying your investments in the local economy. When you earn the $110, you pay it back and your debt-free. Ta Da!

I know, where’s the profit for central banks in Lincoln’s crazy method? Hey, here’s a bit of money trivia for y’all. There were a handful of men in our history that have tried to pioneer a debt-free money system or opposed a private central bank: George Washington, Ben Franklin, Andrew Jackson, Abraham Lincoln and John F. Kennedy. All happen to be on our money! Cool, huh?

[Eugene]

Don’t you realize that all of this talk of M0, M1, M2, M3, etc., is all a charade to obfuscate and over-complicate the issue of a fiat monetary system versus one that is backed by tangible assets, such as gold and silver?

Every single one of them would exist in a monetary system that is backed by tangible assets. St Louis Fed web site offers downloadable series of M1, M2, and M3 going back to 1959. United States officially gave up on gold standard in 1971.

Yes our modern financial system is complicated. That’s the way of life. If you want to simplify things, going back on gold standard is not sufficient, you need to abolish fractional reserve banking.

I think the underlying point here is that paper (fiat) money should be backed by tangible assets such as gold and silver, rather than be printed out of thin air.

Money should be backed by the fact that sufficiently large numbers of peple are willing to accept this money as payment for goods. That’s the best way. What backs tangible assets? Does a gold coin have as much intrinsic value as 300 gallons of milk? Or is it simply that people trust gold just like they trust dollars?

Also, if printing is a problem for you, is gold mining a problem as well? With printing, you have a transparent government agency that controls your money supply and hopefully does not expand it too much. With gold mining, you have numerous private enterprises continually bringing potentially random amounts of gold on the market. What’s better?

[Eugene]

Don’t you realize that all of this talk of M0, M1, M2, M3, etc., is all a charade to obfuscate and over-complicate the issue of a fiat monetary system versus one that is backed by tangible assets, such as gold and silver?

Every single one of them would exist in a monetary system that is backed by tangible assets. St Louis Fed web site offers downloadable series of M1, M2, and M3 going back to 1959. United States officially gave up on gold standard in 1971.

Yes our modern financial system is complicated. That’s the way of life. If you want to simplify things, going back on gold standard is not sufficient, you need to abolish fractional reserve banking.

I think the underlying point here is that paper (fiat) money should be backed by tangible assets such as gold and silver, rather than be printed out of thin air.

Money should be backed by the fact that sufficiently large numbers of peple are willing to accept this money as payment for goods. That’s the best way. What backs tangible assets? Does a gold coin have as much intrinsic value as 300 gallons of milk? Or is it simply that people trust gold just like they trust dollars?

Also, if printing is a problem for you, is gold mining a problem as well? With printing, you have a transparent government agency that controls your money supply and hopefully does not expand it too much. With gold mining, you have numerous private enterprises continually bringing potentially random amounts of gold on the market. What’s better?

[Eugene]

Don’t you realize that all of this talk of M0, M1, M2, M3, etc., is all a charade to obfuscate and over-complicate the issue of a fiat monetary system versus one that is backed by tangible assets, such as gold and silver?

Every single one of them would exist in a monetary system that is backed by tangible assets. St Louis Fed web site offers downloadable series of M1, M2, and M3 going back to 1959. United States officially gave up on gold standard in 1971.

Yes our modern financial system is complicated. That’s the way of life. If you want to simplify things, going back on gold standard is not sufficient, you need to abolish fractional reserve banking.

I think the underlying point here is that paper (fiat) money should be backed by tangible assets such as gold and silver, rather than be printed out of thin air.

Money should be backed by the fact that sufficiently large numbers of peple are willing to accept this money as payment for goods. That’s the best way. What backs tangible assets? Does a gold coin have as much intrinsic value as 300 gallons of milk? Or is it simply that people trust gold just like they trust dollars?

Also, if printing is a problem for you, is gold mining a problem as well? With printing, you have a transparent government agency that controls your money supply and hopefully does not expand it too much. With gold mining, you have numerous private enterprises continually bringing potentially random amounts of gold on the market. What’s better?

[Eugene]

Don’t you realize that all of this talk of M0, M1, M2, M3, etc., is all a charade to obfuscate and over-complicate the issue of a fiat monetary system versus one that is backed by tangible assets, such as gold and silver?

Every single one of them would exist in a monetary system that is backed by tangible assets. St Louis Fed web site offers downloadable series of M1, M2, and M3 going back to 1959. United States officially gave up on gold standard in 1971.

Yes our modern financial system is complicated. That’s the way of life. If you want to simplify things, going back on gold standard is not sufficient, you need to abolish fractional reserve banking.

I think the underlying point here is that paper (fiat) money should be backed by tangible assets such as gold and silver, rather than be printed out of thin air.

Money should be backed by the fact that sufficiently large numbers of peple are willing to accept this money as payment for goods. That’s the best way. What backs tangible assets? Does a gold coin have as much intrinsic value as 300 gallons of milk? Or is it simply that people trust gold just like they trust dollars?

Also, if printing is a problem for you, is gold mining a problem as well? With printing, you have a transparent government agency that controls your money supply and hopefully does not expand it too much. With gold mining, you have numerous private enterprises continually bringing potentially random amounts of gold on the market. What’s better?

[Eugene]

Don’t you realize that all of this talk of M0, M1, M2, M3, etc., is all a charade to obfuscate and over-complicate the issue of a fiat monetary system versus one that is backed by tangible assets, such as gold and silver?

Every single one of them would exist in a monetary system that is backed by tangible assets. St Louis Fed web site offers downloadable series of M1, M2, and M3 going back to 1959. United States officially gave up on gold standard in 1971.

Yes our modern financial system is complicated. That’s the way of life. If you want to simplify things, going back on gold standard is not sufficient, you need to abolish fractional reserve banking.

I think the underlying point here is that paper (fiat) money should be backed by tangible assets such as gold and silver, rather than be printed out of thin air.

Money should be backed by the fact that sufficiently large numbers of peple are willing to accept this money as payment for goods. That’s the best way. What backs tangible assets? Does a gold coin have as much intrinsic value as 300 gallons of milk? Or is it simply that people trust gold just like they trust dollars?

Also, if printing is a problem for you, is gold mining a problem as well? With printing, you have a transparent government agency that controls your money supply and hopefully does not expand it too much. With gold mining, you have numerous private enterprises continually bringing potentially random amounts of gold on the market. What’s better?

[greekfire]

I think the data surrounding M3 was absent for a while, but recently has been collected by a private corporation. I think the underlying point here is that paper (fiat) money should be backed by tangible assets such as gold and silver, rather than be printed out of thin air.

[greekfire]

I think the data surrounding M3 was absent for a while, but recently has been collected by a private corporation. I think the underlying point here is that paper (fiat) money should be backed by tangible assets such as gold and silver, rather than be printed out of thin air.

[greekfire]

I think the data surrounding M3 was absent for a while, but recently has been collected by a private corporation. I think the underlying point here is that paper (fiat) money should be backed by tangible assets such as gold and silver, rather than be printed out of thin air.

[greekfire]

I think the data surrounding M3 was absent for a while, but recently has been collected by a private corporation. I think the underlying point here is that paper (fiat) money should be backed by tangible assets such as gold and silver, rather than be printed out of thin air.

[Deal Hunter]

M3? Can you still get M3 data anywhere?

[Deal Hunter]

M3? Can you still get M3 data anywhere?

[Deal Hunter]

M3? Can you still get M3 data anywhere?

[Deal Hunter]

M3? Can you still get M3 data anywhere?

[greekfire]

Don’t you realize that all of this talk of M0, M1, M2, M3, etc., is all a charade to obfuscate and over-complicate the issue of a fiat monetary system versus one that is backed by tangible assets, such as gold and silver?

[greekfire]

Don’t you realize that all of this talk of M0, M1, M2, M3, etc., is all a charade to obfuscate and over-complicate the issue of a fiat monetary system versus one that is backed by tangible assets, such as gold and silver?

[greekfire]

Don’t you realize that all of this talk of M0, M1, M2, M3, etc., is all a charade to obfuscate and over-complicate the issue of a fiat monetary system versus one that is backed by tangible assets, such as gold and silver?

[greekfire]

Don’t you realize that all of this talk of M0, M1, M2, M3, etc., is all a charade to obfuscate and over-complicate the issue of a fiat monetary system versus one that is backed by tangible assets, such as gold and silver?

[kewp]

Do you know how this system works?

Sure do! Speaking of knowledge, do you know how to *not* act like a dick?

I don’t pay particularly close attention to what the Fed does, but I do check the ShadowStats site from time to time. See:

http://www.shadowstats.com/alternate_data

The M1 line has been sorta going downwards for awhile.

If the Fed is inflating again as of last week it won’t be visible there and is indeed news to me. Thanks for the heads up.

[kewp]

Do you know how this system works?

Sure do! Speaking of knowledge, do you know how to *not* act like a dick?

I don’t pay particularly close attention to what the Fed does, but I do check the ShadowStats site from time to time. See:

http://www.shadowstats.com/alternate_data

The M1 line has been sorta going downwards for awhile.

If the Fed is inflating again as of last week it won’t be visible there and is indeed news to me. Thanks for the heads up.

[kewp]

Do you know how this system works?

Sure do! Speaking of knowledge, do you know how to *not* act like a dick?

I don’t pay particularly close attention to what the Fed does, but I do check the ShadowStats site from time to time. See:

http://www.shadowstats.com/alternate_data

The M1 line has been sorta going downwards for awhile.

If the Fed is inflating again as of last week it won’t be visible there and is indeed news to me. Thanks for the heads up.

[kewp]

Do you know how this system works?

Sure do! Speaking of knowledge, do you know how to *not* act like a dick?

I don’t pay particularly close attention to what the Fed does, but I do check the ShadowStats site from time to time. See:

http://www.shadowstats.com/alternate_data

The M1 line has been sorta going downwards for awhile.

If the Fed is inflating again as of last week it won’t be visible there and is indeed news to me. Thanks for the heads up.

[Mean Reversion]

Bernake has been restricting the money supply since last August. The current inflation is just a side-effect of the previous hangover plus loose credit markets.

Are you f*cking kidding me, kewp? The money supply has been restricted?? Do you know how this system works?

M2 increased $16.3 billion in the week ended Feb. 11, according to data released late Thursday by the Federal Reserve. M2 has advanced $139 billion to $7.585 trillion over the past four weeks, the most for any four weeks since September 2001, when it advanced $207 billion over a four-week span.

To bring the funds rate down, the Fed must do something: inject reserves into the banking system.

By increasing the supply of money, the price of money decreases, and that is how the Fed achieves a lower funds rate.

[Mean Reversion]

Bernake has been restricting the money supply since last August. The current inflation is just a side-effect of the previous hangover plus loose credit markets.

Are you f*cking kidding me, kewp? The money supply has been restricted?? Do you know how this system works?

M2 increased $16.3 billion in the week ended Feb. 11, according to data released late Thursday by the Federal Reserve. M2 has advanced $139 billion to $7.585 trillion over the past four weeks, the most for any four weeks since September 2001, when it advanced $207 billion over a four-week span.

To bring the funds rate down, the Fed must do something: inject reserves into the banking system.

By increasing the supply of money, the price of money decreases, and that is how the Fed achieves a lower funds rate.

[Mean Reversion]

Bernake has been restricting the money supply since last August. The current inflation is just a side-effect of the previous hangover plus loose credit markets.

Are you f*cking kidding me, kewp? The money supply has been restricted?? Do you know how this system works?

M2 increased $16.3 billion in the week ended Feb. 11, according to data released late Thursday by the Federal Reserve. M2 has advanced $139 billion to $7.585 trillion over the past four weeks, the most for any four weeks since September 2001, when it advanced $207 billion over a four-week span.

To bring the funds rate down, the Fed must do something: inject reserves into the banking system.

By increasing the supply of money, the price of money decreases, and that is how the Fed achieves a lower funds rate.

[Mean Reversion]

Bernake has been restricting the money supply since last August. The current inflation is just a side-effect of the previous hangover plus loose credit markets.

Are you f*cking kidding me, kewp? The money supply has been restricted?? Do you know how this system works?

M2 increased $16.3 billion in the week ended Feb. 11, according to data released late Thursday by the Federal Reserve. M2 has advanced $139 billion to $7.585 trillion over the past four weeks, the most for any four weeks since September 2001, when it advanced $207 billion over a four-week span.

To bring the funds rate down, the Fed must do something: inject reserves into the banking system.

By increasing the supply of money, the price of money decreases, and that is how the Fed achieves a lower funds rate.

[kewp]

Bernake has been restricting the money supply since last August. The current inflation is just a side-effect of the previous hangover plus loose credit markets.

[kewp]

Bernake has been restricting the money supply since last August. The current inflation is just a side-effect of the previous hangover plus loose credit markets.

[kewp]

Bernake has been restricting the money supply since last August. The current inflation is just a side-effect of the previous hangover plus loose credit markets.

[kewp]

Bernake has been restricting the money supply since last August. The current inflation is just a side-effect of the previous hangover plus loose credit markets.

[Author]

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