User Controls
Broke-ass Yankies admit to $3 trillion defict so far in 2020
-
2020-07-24 at 4:01 AM UTCWhen I was growing up I had to get up in the morning at ten o'clock at night, half an hour before I went to bed, drink a cup of sulphuric acid, work twenty-nine hours a day down mill, and pay mill owner for permission to come to work, and when we got home, our Dad and our mother would kill us, and dance about on our graves singing 'Hallelujah.'
-
2020-07-24 at 4:29 AM UTC
-
2020-07-24 at 4:44 AM UTC
Originally posted by Speedy Parker All I am going to tell you is this. The only reason any modern currency backed by a central bank has value is that you can pay your taxes with it. It is fiat currency and has no real value. Chew on the significance of that young turdhopper.
no, just no.
maybe for other countries, but not for the US dollar. the very thing that gives money their 'value' to these fiat monies is like you said, is fiat. the superstition that these papers are good and valid for exchanges of goods.
USD on the other hand, derives most of its value from global trade. because when an arsetrallian wants to trade with an austrian, he would have to sell his arsetrallian dollar, buy USD, give it to the austrian, where the austrian would change it to euro after receiving it.
this is what gives USD most of its value. when this stops, USD would lost 1/3 of its value. and when the oil trades stop being done in USD, it will lose another 1/3 of its value.
americans will never make enough in tax dollars prostituting out their throats and asses in this century to cover their national debts. the whole thing is a ponzi scheme and the only thing left that matters is whos going to end up holding the bag.
you better start hoarding dimes and nickles because at least you can load them into your shotgun and use as ammo of last resort to kill yourself. -
2020-07-24 at 4:47 AM UTC
-
2020-07-24 at 11:26 AM UTCThe following users say it would be alright if the author of this post didn't die in a fire!
-
2020-07-24 at 3:10 PM UTC
Originally posted by vindicktive vinny
no, just no.
maybe for other countries, but not for the US dollar. the very thing that gives money their 'value' to these fiat monies is like you said, is fiat. the superstition that these papers are good and valid for exchanges of goods.
USD on the other hand, derives most of its value from global trade. because when an arsetrallian wants to trade with an austrian, he would have to sell his arsetrallian dollar, buy USD, give it to the austrian, where the austrian would change it to euro after receiving it.
this is what gives USD most of its value. when this stops, USD would lost 1/3 of its value. and when the oil trades stop being done in USD, it will lose another 1/3 of its value.
americans will never make enough in tax dollars prostituting out their throats and asses in this century to cover their national debts. the whole thing is a ponzi scheme and the only thing left that matters is whos going to end up holding the bag.
you better start hoarding dimes and nickles because at least you can load them into your shotgun and use as ammo of last resort to kill yourself.
You have been lied to and you believe the lie. -
2020-07-24 at 3:43 PM UTC
-
2020-07-24 at 3:44 PM UTC
-
2020-07-24 at 3:50 PM UTC
-
2020-07-24 at 4:13 PM UTC
-
2020-07-24 at 4:13 PM UTC
-
2020-07-24 at 4:36 PM UTCThe following users say it would be alright if the author of this post didn't die in a fire!
-
2020-07-24 at 4:57 PM UTC
-
2020-07-24 at 5:10 PM UTC
-
2020-07-24 at 5:18 PM UTC
-
2020-08-09 at 5:23 PM UTChttps://www.zerohedge.com/economics/modern-monetary-theory-playing-fire
bangladeshis opinion need not apply.The following users say it would be alright if the author of this post didn't die in a fire! -
2020-08-09 at 5:55 PM UTC
Originally posted by vindicktive vinny https://www.zerohedge.com/economics/modern-monetary-theory-playing-fire
bangladeshis opinion need not apply.
Seems to be a pretty good summation and article, right up until the author starts expressing his opinions.
Such as:If the country embraced MMT, there would be massive concerns with cronyism
lmrao
MMT is fundamentally proving more or less correct, at least in the short term. Although the whole thing is just Keynesianism 1.5, more than it is a genuinely new theory.
And the thing about government spending is that those closest to the government will always benefit disproportionately. That's why government spending always tends to keep increasing. -
2020-08-09 at 5:57 PM UTCWhat we need is a new currency!
-
2020-08-09 at 6:19 PM UTCThey still have the printing presses. No worries.
-
2020-08-10 at 1:16 AM UTC
Originally posted by vindicktive vinny https://www.zerohedge.com/
Already a joke^
