Why the money system is flawed and why the debt cannot be paid off even if they want to?

[Red Front]

You cant be this dumb.

I dont think you have any understanding of what money is.

So again if the US Government can just print the money it needs why does it collect taxes? Just print it. No reason to take my dollars.

I already answered your question, but you refused to read it. You're a retard.

 

[Couchpotato]

I already answered your question, but you refused to read it. You're a retard.

No you didnt. Your overarching premise is flawed which makes your entire argument flawed. Tell places like Zimbobwe and the Weimar Republic or Venezuela, or Argentina etc how you can just print your way out.... The ridiculous part of this is that you think you're talking about shit that's some new idea. It isnt. Its the same old bullshit just like your socialism/communism arguments. Fantasy land.

 

[Red Front]

No you didnt. Your overarching premise is flawed which makes your entire argument flawed. Tell places like Zimbobwe and the Weimar Republic or Venezuela, or Argentina etc how you can just print your way out.... The ridiculous part of this is that you think you're talking about shit that's some new idea. It isnt. Its the same old bullshit just like your socialism/communism arguments. Fantasy land.

You said, "Tell places like Zimbobwe and the Weimar Republic or Venezuela, or Argentina etc how you can just print your way out...." Again, you're an idiot because in those cases the nations were either heavily in debt in a currency they don't issue or they spent over their GDP, which I'm always saying we shouldn't do. We should keep the US Fed Gov annual budget no more than 35% GDP, preferably around 25%. A quarter of the nation's production capacity. So again, you're a retard. A Dumbass.

 

[Couchpotato]

You said, "Tell places like Zimbobwe and the Weimar Republic or Venezuela, or Argentina etc how you can just print your way out...." Again, you're an idiot because in those cases the nations were either heavily in debt in a currency they don't issue or they spent over their GDP, which I'm always saying we shouldn't do. We should keep the US Fed Gov annual budget no more than 35% GDP, preferably around 25%. A quarter of the nation's production capacity. So again, you're a retard. A Dumbass.

Who do you think issues US currency?

 

[Red Front]

Who do you think issues US currency?

You're an ignoramus.

 

[Couchpotato]

You're an ignoramus.

LOL. Ok so who controls US currency? Is it the US Government?

 

[Not That Guy]

Why pay taxes if the government can just print money?

That makes taxes punitive, instead of 'paying for stuff'

 

[Red Front]

LOL. Ok so who controls US currency? Is it the US Government?

Go make a sandwich.

 

[Couchpotato]

Go make a sandwich.

LOL. Yeah the truth hits hard dont it.....

 

[Red Front]

Why pay taxes if the government can just print money?

That makes taxes punitive, instead of 'paying for stuff'

I answered this in a previous post but I'm giving you the short answer. To avoid or at least control inflation, maintain the value of the currency, increase production, and influence the market to serve the public good. There are a few other reasons, but those are the main ones.

Under our federalized system of government, the federal government issues the currency, and states, including local governments, rely on Washington, for its currency.

 

[Red Front]

LOL. Yeah the truth hits hard dont it.....

You wouldn't know the truth if it bit you in the butt cheek. Go eat a rat-knuckle soup.

 

[Not That Guy]

Under our federalized system of government, the federal government issues the currency, and states, including local governments, rely on Washington, for its currency.

I actually agree with a lot of what you post. However you are incorrect here. The Federal Reserve is a private bank. It is no more federal than federal express.

The Costitutiton says that the Treasury has the power to coin money and CONGRESS (as if we want them to have this power lol) has the power to the currencies value.

This all changed in 1913 with the federal reserve act, which took that power away from the govt and gave it to a private for profit bank. The idea was that as a private bank it could regulate the currency better and more efficently than the government and thus avoid recessions and depressions.

Instead they made both worse. Our national debt is based on illegal currency. Actually all debt is in illegal currency if its denominated in federal reserve notes.

The issue is that our courts will not open that can of worms so we are literally stuck with it till it collapses. But if your the only issuer of currency, and your customers only source of dollars, and now theyre in debt to you, they will never not in a billion years ever escape. Why would you allow them out of such slavery?

The federal govt, and the federal reserve are two totally different entities. Maybe the federal govt should federalize the federal reserve instead?

 

[Red Front]

I actually agree with a lot of what you post. However you are incorrect here. The Federal Reserve is a private bank. It is no more federal than federal express.

The Costitutiton says that the Treasury has the power to coin money and CONGRESS (as if we want them to have this power lol) has the power to the currencies value.

This all changed in 1913 with the federal reserve act, which took that power away from the govt and gave it to a private for profit bank. The idea was that as a private bank it could regulate the currency better and more efficently than the government and thus avoid recessions and depressions.

Instead they made both worse. Our national debt is based on illegal currency. Actually all debt is in illegal currency if its denominated in federal reserve notes.

The issue is that our courts will not open that can of worms so we are literally stuck with it till it collapses. But if your the only issuer of currency, and your customers only source of dollars, and now theyre in debt to you, they will never not in a billion years ever escape. Why would you allow them out of such slavery?

The federal govt, and the federal reserve are two totally different entities. Maybe the federal govt should federalize the federal reserve instead?

The Fed is a chartered bank under the authority of the US Congress. One might argue it has too much control over our economy, setting interest rates..etc, but it's not an independent, private bank, it's legally under the authority of the US Fed Gov. The FED is essentially our nation's central bank, and one might argue the central bank of the whole world when it comes to international trade. The USD is the reserve currency of the world, hence most international transactions ultimately go through the FED.

 

[Not That Guy]

the worlds central bank is called the Bank of International Settlements or BIS.

Congress does not have the legal authority, and no court will touch the subject, doesnt make it any less illegal, its the details..

The federal reserve is our central bank. doesnt make it anymore legal as there were no changes made to the constitution to allow such.

Thats why people are calling to end the fed. because its a parasitic system designed to do one thing: kill the host

 

[Couchpotato]

The Fed is a chartered bank under the authority of the US Congress. One might argue it has too much control over our economy, setting interest rates..etc, but it's not an independent, private bank, it's legally under the authority of the US Fed Gov.

Can the Congress order the Fed to issue more currency? Can the Executive? Can SCOTUS? Can any of them order the Fed to lower or raise interest rates?

So tell me again how if Zimbabwe and the Weimar Republic had controlled their currency just printing more would have been fine....

The USD is the reserve currency of the world, hence most international transactions ultimately go through the FED.

The USD is only the reserve currency so long as the world agrees it's the reserve currency. And more importantly that large oil producing countries agree. If they start taking some other currency to buy oil..... There's no law or agreement or treaty mandating that USD be used for the purchase of oil, which is the only reason it's the reserve currency.

 

[Red Front]

Can the Congress order the Fed to issue more currency? Can the Executive? Can SCOTUS? Can any of them order the Fed to lower or raise interest rates?

So tell me again how if Zimbabwe and the Weimar Republic had controlled their currency just printing more would have been fine....



The USD is only the reserve currency so long as the world agrees it's the reserve currency. And more importantly that large oil producing countries agree. If they start taking some other currency to buy oil..... There's no law or agreement or treaty mandating that USD be used for the purchase of oil, which is the only reason it's the reserve currency.

Yes, Congress through its budget committees does have legal, legislative, direct control over the FED. What occurred in Zimbabwe with the land redistribution, hyperinflation and the lack of production has nothing to do with the macroeconomics of the United States of America. Weimar is another example of a completely different situation or context which doesn't apply to the US. Give it up, go eat a bowl of fruity pebbles with 2% milk:

 

[Couchpotato]

Yes, Congress through its budget committees does have legal, legislative, direct control over the FED. What occurred in Zimbabwe with the land redistribution, hyperinflation and the lack of production has nothing to do with the macroeconomics of the United States of America. Weimar is another example of a completely different situation or context which doesn't apply to the US. Give it up, go eat a bowl of fruity pebbles with 2% milk:

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I get it to answer the question honestly would blow up your fantasy world.

 

[Red Front]

the worlds central bank is called the Bank of International Settlements or BIS.

Congress does not have the legal authority, and no court will touch the subject, doesnt make it any less illegal, its the details..

The federal reserve is our central bank. doesnt make it anymore legal as there were no changes made to the constitution to allow such.

Thats why people are calling to end the fed. because its a parasitic system designed to do one thing: kill the host

The FED is a chartered bank under the authority of the US Congress. It's our nation's central bank and it makes sure the US government receives the funds it needs to operate. It types USD into a computer and deposits the money into government accounts, along with non-government accounts as well when applicable.

 

[Red Front]

I get it to answer the question honestly would blow up your fantasy world.

You're the one in a fantasy world comparing what occurred in Zimbabwe in the 2000s to the macroeconomics of the United States.

 

[Toddsterpatriot]

We never borrowed it. Why would the US Federal Government need to "borrow" USD when it issues the USD ex-nihilo? You don't understand how treasury bonds work and what they're for now, under our current monetary system. We're not under the gold standard anymore. The USD is a modern, fiat currency, that is exclusively issued by the US FED GOV. Before responding to what I wrote, actually read it. You read one sentence and started firing. You ignored everything I said.

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We never borrowed it.

The US Treasury did, every time they sold a bill, note or bond.

Why would the US Federal Government need to "borrow" USD when it issues the USD ex-nihilo?

Because if you make a habit out of creating too much, ex-nihilo, people won't use it anymore.