Comments on: Debate Forum Left 09/29/10 http://www.daytoncitypaper.com/debate-forum-left-092910/?utm_source=rss&utm_medium=rss&utm_campaign=debate-forum-left-092910 Miami Valley's Arts, Culture & News Weekly Tue, 21 May 2013 06:51:32 +0000 hourly 1 http://wordpress.org/?v=3.4.1 By: Ben http://www.daytoncitypaper.com/debate-forum-left-092910/comment-page-1/#comment-700 Ben Mon, 04 Oct 2010 15:46:19 +0000 http://www.daytoncitypaper.com/?p=1400#comment-700 1. Bonds and investments aren't included in GDP calculation. 2. If the GDP is a fraud created by government economists, how do you propose we define a recession? 3. The Fed doesn't print money. The Treasury prints money and the Federal Reserve buys it from them. And yes, they deal in currency. Look at all the state quarter collections out there. Furthermore, it is very important that they print more money. As population in our country increases the actual dollar bills available for any given person to put in their pocket would decrease to the point where we'd all only have a few pennies and one penny could buy a boat. That's not practical. 4. I think you are confusing hard currency with another monetary measurement unit, M1. We've been adding hard currency to the pile at a fairly predictable rate over the years. That's not special. M1 however has increased a lot because M1 measures how far that money is streched in the market place. For example: I have $100. I put that money in a savings account. M1=$100 The bank loans you $75. Now in stone cold reality there's only $100 of actual coinage available, and if I went to the bank and demanded my $100 back the bank is in trouble because it doesn't have it. However, there is the EQUIVALENT of $175 in the market place, because I technically have $100 on paper and you have $75 in cash to spend. That's M1. It's not real money, it's a measurement of how far we've extended that money's buying power. That has increased dramatically because of the huge loans the Federal Reserve made to banks like AIG. However, the actual amount of dollar bills available has not increased significantly. M1 is a theoretical number, not a literal coin purse. 5. Ben Bernanke is a busy man... 1. Bonds and investments aren’t included in GDP calculation.

2. If the GDP is a fraud created by government economists, how do you propose we define a recession?

3. The Fed doesn’t print money. The Treasury prints money and the Federal Reserve buys it from them. And yes, they deal in currency. Look at all the state quarter collections out there. Furthermore, it is very important that they print more money. As population in our country increases the actual dollar bills available for any given person to put in their pocket would decrease to the point where we’d all only have a few pennies and one penny could buy a boat. That’s not practical.

4. I think you are confusing hard currency with another monetary measurement unit, M1. We’ve been adding hard currency to the pile at a fairly predictable rate over the years. That’s not special. M1 however has increased a lot because M1 measures how far that money is streched in the market place. For example:

I have $100. I put that money in a savings account. M1=$100 The bank loans you $75. Now in stone cold reality there’s only $100 of actual coinage available, and if I went to the bank and demanded my $100 back the bank is in trouble because it doesn’t have it. However, there is the EQUIVALENT of $175 in the market place, because I technically have $100 on paper and you have $75 in cash to spend. That’s M1. It’s not real money, it’s a measurement of how far we’ve extended that money’s buying power. That has increased dramatically because of the huge loans the Federal Reserve made to banks like AIG. However, the actual amount of dollar bills available has not increased significantly. M1 is a theoretical number, not a literal coin purse.

5. Ben Bernanke is a busy man…

]]> By: Mark http://www.daytoncitypaper.com/debate-forum-left-092910/comment-page-1/#comment-690 Mark Thu, 30 Sep 2010 02:24:50 +0000 http://www.daytoncitypaper.com/?p=1400#comment-690 The numbers absolutely lie. The Fed prints money out of thin air and gives it to the government by buying bonds to artificially inflate the GDP numbers. GDP is a fraud invented by government economists to be manipulated by the aristocrats and their bankster allies. The Fed doesn't even have to print the money anymore. It just manipulates digits in its computer. It would be like you making a post saying GDP was $13 trillion, which you claim shows the economy is in recession, and Ben Bernanke comes behind you and edits the post to say $14 trillion then claiming that means we're not in recession. The only difference in the real world case, $1 trillion would have been stolen from anybody who has dollars in their wallet or bank account. The numbers absolutely lie. The Fed prints money out of thin air and gives it to the government by buying bonds to artificially inflate the GDP numbers. GDP is a fraud invented by government economists to be manipulated by the aristocrats and their bankster allies.

The Fed doesn’t even have to print the money anymore. It just manipulates digits in its computer. It would be like you making a post saying GDP was $13 trillion, which you claim shows the economy is in recession, and Ben Bernanke comes behind you and edits the post to say $14 trillion then claiming that means we’re not in recession. The only difference in the real world case, $1 trillion would have been stolen from anybody who has dollars in their wallet or bank account.

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