This dude really thinks taxation is what gives currency value.
What gave the US dollar value between it’s inception in 1792 and the introduction of the federal income tax in 1913?
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I mean, it was backed by gold then but it has the same problem.
Gold is only valuable because people desire it and believe it to be. As a material, it’s kind of shit outside of some electrical and space applications.
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Right, it’s value was tied to a tangible resource, but I would argue that only partially explains where money’s value comes from. It certainly does not come from taxation. That doesn’t even remotely make sense. Money printer go brrr makes more sense…
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Yeah. That resource was totally arbitrary though. What was gold good for other than hoarding or as its own form of currency?
Humanity all somehow collectively agreed yellow shiny stuff was better than silver shiny stuff or brown shiny stuff…
The whole monetary system is built on belief something has value not necessarily because the thing backing the money or the thing itself is actually valuable (like I said, gold sucks for most applications of using it to do something).
Agreed, it’s arbitrary. A not insignificant part of economics is trying to understand the irrationality of human beings. That said, I think it’s better than our current system in terms of stability not that currency was fully stable on the gold standard.
Agreed. I think the value of currency is mostly intangible and consumer driven.
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It is shiny, doesn’t tarnish, and is malleable.
I have quite a bit of it and silver - both will always have value.
But yes, it is just a soft fucking rock lol.
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It is strange, but it does make sense to have an agreed upon form of consideration in a functioning society at scale. Barter would be difficult to say the least.
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And he was closer to your guys than to mine.
Whether YOU agree with it or not, that is the way it is.
To someone who knows nothing about economics.
Probably gold and/or silver.
Yeah, a larger tax drain will take money out of economy, which can cool down a overheated economy.
Or volunteer, maybe tend a protest/rally.
I’ve already answered those questions before. Do you think I’m here to please you? I’d rather do other things with my time then placate to you.
Oh you mean like this?
So, I suppose you’d agree with 'printing money" now to shore up SS, since it will take about 10 years before it will not pay out full benefits. This way the “printing of money” is done over a longer period of time, this way we can help avoid inflation.
But I thought Trump said he was going to get rid of the national debt?
[quote=“usmccds423, post:2487, topic:280538”]
Google “Japan lost decade”
Decade? I see only 1 year it was out of control and quickly fell.
Well don’t pay your taxes in dollars. Just let us know how it goes.
Ahhhh no… answering a question designed to get you to realize what an idiotic question you asked.
Ahhhh no… this Greenspan. In a moment of truth. He admits it is the productive capacity not the “printing of money” as he shuts down D-bag Paul Ryan. Man, this must have been difficult for him to say as he’s an admitted Ayn Rand lover.
Sorry, it would not let me post the Youtube video of Greenspan explaining to Paul Ryan the way it actually works. You’d have to go to Youtube and look up Greenspan vs. Paul Ryan. I believe I posted this video before. It may be somewhere in this thread.
So I can be taught neo-classical economics and think like you? No thanks!
SS is a relic of a program poorly constructed and continually borrowed against for other interests. That’s why it’s failing and doomed to fall further. It’s almost like putting the government in charge (at least the US) doesn’t work (VA, SS, Student loan programs that allowed all the university to jack up prices at an unprecedented rate, etc…)
SS payouts aren’t enough to live off of. If you’re going to have welfare - at least do it properly.
I don’t know why you keep bringing up trump as if those of us here thought he was some kind of idol. Contrary to your belief - not everyone who disagrees with you Marxist bull shit is a MAGA fanatic.
Out here thinking your protest on a street corner is the Million Man March or something….
Gimme a break.
What exactly are you protesting against? And what makes you think anyone who sees your protest gives a rats ass?
Pointing out the absurdity and inherent oddity of the monetary system does not mean nor imply MMT is correct…
That’s bold, implying you are capable of thought.
Lmao, no, it only makes sense to a person that doesn’t know anything about economics or money or business or just about anything really.
No, you didn’t. You barely answered them this time.
I would think you’re here to make a compelling argument(s) about a topic you started, but that is obviously not the case.
Translation: “Fuck you and your earning” - Government
The US did not print 29T (more than annual GDP) to pay for bank bailouts and, of course, you have exactly zero idea what you’re talking about, which is why you just posted this drivel.
Jesus Christ, dude.
USD being official tender doesn’t mean taxation is what gives it value.
You aren’t smart enough for this tactic.
Lmao, not that Greenspan. The one I agree with not the other stuff! Absolute clown show.
Weird how you’re the only one that can’t seem to figure out how to post things…
Are you retarded?
Now I know you’re just trolling.