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Big Bad Voodoo

Fed will print money forever to create jobs

19 posts in this topic

http://blogs.telegra...to-create-jobs/

"We now know where we stand. Janet Yellen is to take over the US Federal Reserve, the world's monetary hegemon, the master of all our lives.

• Obama to nominate Janet Yellen as Federal Reserve chairman

• Choice of 'battle-tested' Yellen relieves markets

• Janet Yellen: a 'hawk in dove’s clothing'?"

Edited by Big Bad Voodoo
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Even pre-schoolers understand money doesn't come from nowhere.

She's a blithering idiot.

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Sir,

USA is only state in world that actually have power to do that. I can explain but I will need more then one post.

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Even pre-schoolers understand money doesn't come from nowhere.

really? i don't know about down under but our money comes from a printing press into the monetary market.

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really? i don't know about down under but our money comes from a printing press into the monetary market.

Your money came from Petrodollars, Eurodollars, Casinoeconomydollars! ;)

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really? i don't know about down under but our money comes from a printing press into the monetary market.

You really missed his point didn't you, but alas you are correct in the simplest way possible. Were you being sarcastic or serious with that reply? Sorry I have to ask because it is sometimes difficult to convey such things with a keyboard.

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Money has to be backed by something....(Even though the idea of money is really an illusion, but that is for another thread and post) otherwise, it is worthless. History backs this up...

Confederate Currency:

Link: http://en.wikipedia...._America_dollar

Republic of Texas Did the Same Thing:

Link: http://en.wikipedia...._America_dollar

Those are the ones I can remember of the top of my head right now....

This guy knows a lot about the economy and money:

Link: http://schiffradio.com/

Watch him on Youtube also...

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Pre and post revolutionary america did the same, the notes given to continental soldiers depreciated pretty quickly because we didn't have enough gold and silver to back the paper money.

http://en.wikipedia.org/wiki/Early_American_currency

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"Money" is a vehicle of trade and universal bartering...it has no "value" other than what people agree it has.

Basically everything is based on the value of a days labor...the cost of labor to produce and/or extract raw materials, the cost of labor to refine materials and then the cost of "property leasing"...where the processing and storage of product occurs. Not exactly....but...

If you ever get the opportunity and are seriously bored out of your skull, read Adam Smith's "The wealth of Nations"...it is very interesting and enlightening but it is not what I'd call a "thrilling page turner". Actually the complete title is "An Inquiry into the Nature and Causes of the Wealth of Nations"...If you ever wanted to know how this juggling act we participate in works...well...there ya go.

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I say let's just keep printing and see what will happen. :whistle:

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Actually, so long as there's low inflation, the Fed. can print all the money it wants, at least in theory, as I understand modern economics.

Key word is "modern."

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Now we know the answer to, "If only woman ruled the world"....

Well they are. Yellens at the helm of the world's reserve currency printing press and Christine Legard heads the world nation lending racket called the International Monetary Fund.

Edited by acidhead
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really? i don't know about down under but our money comes from a printing press into the monetary market.

It's actually the other way round:

http://www.businessspectator.com.au/article/2012/10/22/commodities/myth-money-multiplier

That is, someone approaches a bank to borrow money, and the bank directs the government (or, in this case, a private consortium managed by the same private banks) to create the money to facilitate the loan.

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Money has to be backed by something...

um no. Our current fiat system is based on the money market.

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um no. Our current fiat system is based on the money market.

based on oil prices and eurodolars. Plus derivates. ;)

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"Money" is a vehicle of trade and universal bartering...it has no "value" other than what people agree it has.

Basically everything is based on the value of a days labor...the cost of labor to produce and/or extract raw materials, the cost of labor to refine materials and then the cost of "property leasing"...where the processing and storage of product occurs. Not exactly....but...

If you ever get the opportunity and are seriously bored out of your skull, read Adam Smith's "The wealth of Nations"...it is very interesting and enlightening but it is not what I'd call a "thrilling page turner". Actually the complete title is "An Inquiry into the Nature and Causes of the Wealth of Nations"...If you ever wanted to know how this juggling act we participate in works...well...there ya go.

Computers and robots and mega-machines have really destroyed the value of labor It's better to call it the cost of production now, but you're absolutely right.

Great recommendations too. ;)

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And the last job they will create is to burn all the waste paper they have printed. Sometimes I wonder if they learned their economic theory from Idi Amin.

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The last jobs they'll sustain are thugs out shooting (policing) other people who are revolting because of the debt this institution has put us in which is going to break the backs of the rest of the middle class they haven't destroyed already. The US economy is becoming a bad joke and even the market analysts don't seem to care about much beyond the Fed's easy money policies continuing indefinitely. A stink of a jobs report came out last Thursday and instead of the markets responding to an unwelcome number on employment, the Dow rallies 323 points because some rhetoric from Washington DC suggested a political compromise to punt the ball down the road was in the works, as always. If that's what's holding this market up, I feel sorry for the people left holding the bag. And it won't be the ones making millions today. They'll sell early and first.

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Much of money supply consists of numbers in hard drives, and is part of a large credit market. The biggest component is unregulated derivatives, with a notional value of over a quadrillion dollars.

The 2008 crash was prompted by "only" a trillion dollars in subprime lending leading to over 30 trillion dollars vaporized worldwide, and that in turn made up by governments bailing out financial investors and passing on the debt to the public.

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