Big Bad Voodoo Posted October 11, 2013 #1 Share Posted October 11, 2013 (edited) 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 October 11, 2013 by Big Bad Voodoo 1 Link to comment Share on other sites More sharing options...
Sir Wearer of Hats Posted October 11, 2013 #2 Share Posted October 11, 2013 Even pre-schoolers understand money doesn't come from nowhere. She's a blithering idiot. 5 Link to comment Share on other sites More sharing options...
Big Bad Voodoo Posted October 11, 2013 Author #3 Share Posted October 11, 2013 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. 1 Link to comment Share on other sites More sharing options...
ninjadude Posted October 11, 2013 #4 Share Posted October 11, 2013 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. Link to comment Share on other sites More sharing options...
Big Bad Voodoo Posted October 11, 2013 Author #5 Share Posted October 11, 2013 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! 1 Link to comment Share on other sites More sharing options...
EnderOTD Posted October 11, 2013 #6 Share Posted October 11, 2013 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. 3 Link to comment Share on other sites More sharing options...
Kowalski Posted October 11, 2013 #7 Share Posted October 11, 2013 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... 2 Link to comment Share on other sites More sharing options...
EnderOTD Posted October 12, 2013 #8 Share Posted October 12, 2013 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 1 Link to comment Share on other sites More sharing options...
Jeremiah65 Posted October 12, 2013 #9 Share Posted October 12, 2013 "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. 6 Link to comment Share on other sites More sharing options...
Drayno Posted October 12, 2013 #10 Share Posted October 12, 2013 I say let's just keep printing and see what will happen. 1 Link to comment Share on other sites More sharing options...
Raptor Witness Posted October 12, 2013 #11 Share Posted October 12, 2013 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." Link to comment Share on other sites More sharing options...
acidhead Posted October 12, 2013 #12 Share Posted October 12, 2013 (edited) 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 October 12, 2013 by acidhead 4 Link to comment Share on other sites More sharing options...
MonkeyLove Posted October 12, 2013 #13 Share Posted October 12, 2013 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. 1 Link to comment Share on other sites More sharing options...
ninjadude Posted October 12, 2013 #14 Share Posted October 12, 2013 Money has to be backed by something... um no. Our current fiat system is based on the money market. Link to comment Share on other sites More sharing options...
Big Bad Voodoo Posted October 12, 2013 Author #15 Share Posted October 12, 2013 um no. Our current fiat system is based on the money market. based on oil prices and eurodolars. Plus derivates. 1 Link to comment Share on other sites More sharing options...
Yamato Posted October 14, 2013 #16 Share Posted October 14, 2013 "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. Link to comment Share on other sites More sharing options...
questionmark Posted October 14, 2013 #17 Share Posted October 14, 2013 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. 1 Link to comment Share on other sites More sharing options...
Yamato Posted October 15, 2013 #18 Share Posted October 15, 2013 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. Link to comment Share on other sites More sharing options...
MonkeyLove Posted October 16, 2013 #19 Share Posted October 16, 2013 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. Link to comment Share on other sites More sharing options...
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