Thoughts on this book....

[buster]

I posting this because there are a lot of sharp, intelligent people on this forum. I encourage you to read this with an open mind, and share your thoughts.

http://moslereconomics.com/2009/12/10/7-deadly-innocent-frauds/

 

[Garak]

Originally Posted By: buster
I posting this because there are a lot of sharp, intelligent people on this forum. I encourage you to read this with an open mind, and share your thoughts.


Oh, boy. I don't want to get political here, but even Stalin stole gold from the Spaniards; a command economy needs money as much as any other. We also know what happened to countries that tried to print their way out of financial difficulties.

 

[buster]

Ok, but you didn't read it based on what you wrote.

 

[rshunter]

Amazing how much the guy likes to throw out names, isn't it? I was hanging out with "X", therefore I'm really something!

Like clock-work, every two years this garbage gets old...

 

[Pablo]

Printing money to solve US dept issues does work. Well except the money naturally becomes worth less. So, to slow this inflation, taxes are raised.

Is that about it?

Any other consequences?

Would this anger the Chinese? The Arabs?

 

[Gary Allan]

I don't see how it makes a difference. When arguing economic philosophies in a fractional reserve fiat currency environment, I think it's merely a matter of where you're positioned within the economic bubble as to what persuasion you subscribe to. All money comes from debt and is utilized within the bubble and is bled off when there is an economic differential with the environment outside of the bubble. Simple osmosis and cellular solution balancing.

Everything else is just manipulation of those differentials and where some hope to end up within the bubble. The net result is not much different to the health of the cell's interior.

 

[Pablo]

Originally Posted By: Gary Allan
All money comes from debt


Still stuck in that quagmire I see.

 

[Garak]

Originally Posted By: buster
Ok, but you didn't read it based on what you wrote.

No, I didn't finish it. When a document starts out claiming that the author isn't a crank, then he probably actually is. His main point seems to be that governments have unlimited supplies of money, and all payments are really money transfers on a spreadsheet. Well, that is a half truth at best. Even his example about the government shredding money they receive on a payment, whether true or not, doesn't take into account that the government can account for that money and replace it.

Honestly, he makes the cranks that complain money is worthless because it's not all backed by gold reserves look rational by comparison.