- 28 Dec 2023 01:36
#15299838
1] This assertion that I have provided only obfuscations is a lie. Sorry that I have to say that, but what else can I call it?
In this thread I provided 3 links. Two were about Fed Chairman Greenspan's testimony under oath, that the US can create money in unlimited amounts and pay it to someone, and the other was to a paper by Dr. Werner about how he had proved with an experiment that banks create money when they make loans. Before that part, he talks at length about the 3 theories of how banks make loans.
And I explained how the bank loan system works step by step and showed how it must include the creation of new dollars. After your reply, Crantag replied and functionally agreed with everything I said, except my word "licensed".
I didn't reply to your inflammatory post about hyperinflation because, what is the use?
BTW -- being bankrupt or broke implies that you lack the ability to get cash to pay your bills. One is not bankrupt if one can sell an asset to pay the bills. Governments with their own fiat currencies can create money to pay bills so they can never really be bankrupt or broke.
Also, I have said many times that Gov. are constrained by real resources and labor, and creating more money beyond that constraint or limit can cause inflation.
Your examples of hyperinflation are just examples of what can happen when a Gov. keeps creating money beyond the limit I just said exists.
.
QatzelOk wrote:Yes, before noticing Western bankruptcy, it's important to read at least a thousand books that you propose.
Once I'm finished reading those books, I will FINALLY understand how the magic money machine works, and why it's so important to watch sitcoms and other entertainment products instead.
1] No one has offered any insight in this thread, only obfuscation.
Par for the course. A pickpocket is very slippery and is always ready to provide distractions.
1] This assertion that I have provided only obfuscations is a lie. Sorry that I have to say that, but what else can I call it?
In this thread I provided 3 links. Two were about Fed Chairman Greenspan's testimony under oath, that the US can create money in unlimited amounts and pay it to someone, and the other was to a paper by Dr. Werner about how he had proved with an experiment that banks create money when they make loans. Before that part, he talks at length about the 3 theories of how banks make loans.
And I explained how the bank loan system works step by step and showed how it must include the creation of new dollars. After your reply, Crantag replied and functionally agreed with everything I said, except my word "licensed".
I didn't reply to your inflammatory post about hyperinflation because, what is the use?
BTW -- being bankrupt or broke implies that you lack the ability to get cash to pay your bills. One is not bankrupt if one can sell an asset to pay the bills. Governments with their own fiat currencies can create money to pay bills so they can never really be bankrupt or broke.
Also, I have said many times that Gov. are constrained by real resources and labor, and creating more money beyond that constraint or limit can cause inflation.
Your examples of hyperinflation are just examples of what can happen when a Gov. keeps creating money beyond the limit I just said exists.
.