"cut the wealth of billionaires in half over 15 years, "

[daveman]

Ever see a farmer grow a plant?

George believes every single penny belongs to the Government, who, in their benevolence, sometimes lets you keep a little.

 

[toobfreak]

Those numbers *ahem* assume that "the wealthy" will continue to produce resources to be looted by commie scum like the Berntard....History proves him wrong.

Of course, those looters will use their failure as evidence that even more looting is called for.

Let's not forget a good grounding strap to earth ground, OB-- -- -- we want to be sure to complete the circuit to be sure our friend gets the FULL EFFECT of socialism.

 

[georgephillip]

George believes every single penny belongs to the Government, who, in their benevolence, sometimes lets you keep a little.

Would you rather depend on Wall Street's charity for your pennies?

History of U.S. Money Creation - AFJM

"When the United States was founded, the U.S. Constitution, in Article 1, Section 8, gave Congress the power 'To coin money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures.'

"However, it left open a gaping hole with regard to the role of banking and who should have the power to extend credit—the government or private interests.

"Should government depend upon borrowing money or be the sole authorized creator of it? How much power should private banks have?"

 

[Oddball]

Would you rather depend on Wall Street's charity for your pennies?

History of U.S. Money Creation - AFJM

"When the United States was founded, the U.S. Constitution, in Article 1, Section 8, gave Congress the power 'To coin money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures.'

"However, it left open a gaping hole with regard to the role of banking and who should have the power to extend credit—the government or private interests.

"Should government depend upon borrowing money or be the sole authorized creator of it? How much power should private banks have?"

Article 1, Section 8 says "coin money", which is a process of making specie...It doesn't say print up fake value out of thin air.

 

[marvin martian]

Sanders is of little consequence, he'll probably try again in 2024....and fail again

Ho only pretends to run for president when he wants money. Hillary paid him $600,000 (from Russia) to do it in 2016 and Biden paid him $3 million (from China) in 2020.

 

[bripat9643]

Would you rather depend on Wall Street's charity for your pennies?

History of U.S. Money Creation - AFJM

"When the United States was founded, the U.S. Constitution, in Article 1, Section 8, gave Congress the power 'To coin money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures.'

"However, it left open a gaping hole with regard to the role of banking and who should have the power to extend credit—the government or private interests.

"Should government depend upon borrowing money or be the sole authorized creator of it? How much power should private banks have?"

That wasn't a "hole," dumbass. It was intentional. The funding fathers didn't want the government to have a bank or the authority to print paper money.

 

[georgephillip]

Article 1, Section 8 says "coin money", which is a process of making specie...It doesn't say print up fake value out of thin air.

Money's value comes from its ability to use it to pay taxes.
Perhaps a 100% reserve requirement would be useful?

History of U.S. Money Creation - AFJM

"In the early 1930s a collection of banking reforms was put forth by a group of economists at the University of Chicago. This plan, referred to as The Chicago Plan, actually did address the problems associated with bank creation of money.

"It recommended an abolition of the practice of Fractional Reserve banking, and a change to a 100% reserve requirement. Though it was supported by over 235 noted economists from 157 universities and colleges, it was never made law."

 

[daveman]

Would you rather depend on Wall Street's charity for your pennies?

History of U.S. Money Creation - AFJM

"When the United States was founded, the U.S. Constitution, in Article 1, Section 8, gave Congress the power 'To coin money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures.'

"However, it left open a gaping hole with regard to the role of banking and who should have the power to extend credit—the government or private interests.

"Should government depend upon borrowing money or be the sole authorized creator of it? How much power should private banks have?"

All Hail our God Government, Which loves us and will always take care of us!

“Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience. They may be more likely to go to Heaven yet at the same time likelier to make a Hell of earth. This very kindness stings with intolerable insult. To be 'cured' against one's will and cured of states which we may not regard as disease is to be put on a level of those who have not yet reached the age of reason or those who never will; to be classed with infants, imbeciles, and domestic animals.”

-- C.S. Lewis

George, I wouldn't trust you to run a Little League bake sale without fucking it up. There's no way you and people like you can be trusted running a nation. History shows us what happens, and it always winds up with millions dead.

 

[daveman]

Ho only pretends to run for president when he wants money. Hillary paid him $600,000 (from Russia) to do it in 2016 and Biden paid him $3 million (from China) in 2020.

 

[bripat9643]

Money's value comes from its ability to use it to pay taxes.
Perhaps a 100% reserve requirement would be useful?

That's obvious bullshit.

History of U.S. Money Creation - AFJM

"In the early 1930s a collection of banking reforms was put forth by a group of economists at the University of Chicago. This plan, referred to as The Chicago Plan, actually did address the problems associated with bank creation of money.

"It recommended an abolition of the practice of Fractional Reserve banking, and a change to a 100% reserve requirement. Though it was supported by over 235 noted economists from 157 universities and colleges, it was never made law."

What's your point?

 

[georgephillip]

George, I wouldn't trust you to run a Little League bake sale without fucking it up. There's no way you and people like you can be trusted running a nation. History shows us what happens, and it always winds up with millions dead.

Like Operation Barbarossa?

No ideology in history kills like capitalism.

Operation Barbarossa

 

[bripat9643]

Like Operation Barbarossa?

No ideology in history kills like capitalism.

Operation Barbarossa

Hitler was a socialist, Commie, and so was Stalin.

 

[georgephillip]

That wasn't a "hole," dumbass. It was intentional. The funding fathers didn't want the government to have a bank or the authority to print paper money.

"Thomas Jefferson and Alexander Hamilton famously argued over what sort of banking system the U.S. should have, with Hamilton advocating for the establishment of a national bank (modeled after the Bank of England) and Jefferson wanting the power to create a bank reserved for the States.

"What was apparently not included in the dispute was whether banks should have the power to create money at all."

History of U.S. Money Creation - AFJM

Has it occurred to you the real problem here is allowing private banks to create money through interest-bearing debt, with lending based on the private banks own profit motives and independent of concern for the welfare of the economy and the public?

 

[georgephillip]

What's your point?

Nationalize money...not banks.

Chicago plan - Wikipedia

"The core of the Chicago plan was to replace the fractional reserve system by insisting that banks always hold enough liquid assets to cover 100% of their loans, thus eliminating any danger of bank runs.[1]

"Banks would not be able to create money, and affect the money supply themselves: as Irving Fisher put it in 1936, the banks would be free to lend money 'provided we now no longer allow them to manufacture the money that they lend... In short: nationalize money, but do not nationalize banking'.[2]"

 

[bripat9643]

Nationalize money...not banks.

Chicago plan - Wikipedia

"The core of the Chicago plan was to replace the fractional reserve system by insisting that banks always hold enough liquid assets to cover 100% of their loans, thus eliminating any danger of bank runs.[1]

"Banks would not be able to create money, and affect the money supply themselves: as Irving Fisher put it in 1936, the banks would be free to lend money 'provided we now no longer allow them to manufacture the money that they lend... In short: nationalize money, but do not nationalize banking'.[2]"

Your plan is just as bad.

 

[bripat9643]

Nationalize money...not banks.

Chicago plan - Wikipedia

"The core of the Chicago plan was to replace the fractional reserve system by insisting that banks always hold enough liquid assets to cover 100% of their loans, thus eliminating any danger of bank runs.[1]

How would banks lend money if they had to do that?

 

[georgephillip]

Hitler was a socialist, Commie, and so was Stalin.

Hitler killed for money like all good capitalists.

 

[bripat9643]

Hitler killed for money like all good capitalists.

Unfortunately for your dumbass theory, he was a socialist.

 

[georgephillip]

Your plan is just as bad.

Because...

 

[georgephillip]

w would banks lend money if they had to do that?

Without fraud?

Full-reserve banking - Wikipedia

"In The Mystery of Banking, Murray Rothbard argues that legalized fractional-reserve banking gave banks 'carte blanche' to create money out of thin air.[24]

"Economists that formulated the Chicago Plan following the Great Depression argue that allowing banks to have fractional reserves puts too much power in the hands of banks by allowing them to determine the amount of money in circulation by changing the amount of loans they give out.[25]

"Is fractional-reserve banking fraud?"​