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Thread: The broad method of taxation is not the problem

  1. #121

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    Quote Originally Posted by Roy L View Post
    Silliness. The fact that most diets don't work doesn't demonstrate that there is no such thing as a diet.
    You and your irrelevant analogies ...does not make fact go away.
    Not in Iceland, where democratic accountability is quite a bit older and healthier than in the USA.
    Who the hell cares? Iceland is not here and your abuse of red herring fallacy is overwhelming.


    First you claim it's a restraint but not a constraint, now you claim it's neither.
    No, I say you do not have a clue to what is a restraint and what is a constraint - as you continue to demonstrate.


    "money, n. ... 3. any circulating medium of exchange, including coins, paper money, and demand deposits."
    *So what*

    It does not change that demand deposits are not money but a debt

    Any dictionary of economics, like the New Palgrave, will also define money as including demand deposits.
    No actually most say "commonly considered to be money" - because the field of economics is dominated by this crackpot theory you parrot, this is common.

    However, it fails every test of money.

    So, that which fails the test cannot be money - no matter how you parrot such.

    And you are and never were a Mensa member. I'd believe you to be the King of Sweden before I believe you are Mensa.


    There is nothing hard to understand about excess reserves, or the graph of them that you posted.
    You seem to struggle with it.

    What is hard to understand is how you imagine the graph you posted supports your claim that Fed printing of money
    It is not hard to imagine, because you are an idiot.

    I did not post that to support your red herring here.

    You asked "where did the money go?" and I showed you.

    You are lost in the vast wilderness of your empty mind.



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  3. #122

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    Quote Originally Posted by Roy L View Post
    What was going on for the previous 95 years?
    Except for short episodes, the banks lent out such money.

    The key word, Roy is Excess Reserves - that which the depository banks have in excess of their legal requirements to hold with the FED.

  4. #123

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    Quote Originally Posted by Black Flag View Post
    You and your irrelevant analogies ...does not make fact go away.
    You did not mention any fact. You just made some $#!+ up.
    Who the hell cares? Iceland is not here and your abuse of red herring fallacy is overwhelming.
    I informed you that democratic accountability does not mean that people will always agree with you.
    No, I say you do not have a clue to what is a restraint and what is a constraint - as you continue to demonstrate.
    Dictionary quote to support your claim? Of course not.
    *So what*
    So it proves I am using a correct definition of money.
    It does not change that demand deposits are not money but a debt
    Yes, actually, it does.
    No actually most say "commonly considered to be money"
    Evidence? Quotes? Of course not.
    - because the field of economics is dominated by this crackpot theory you parrot, this is common.
    I see. So, 99% of economists agree with me, not you, but somehow that makes me the "crackpot."
    However, it fails every test of money.
    Nope. There are three tests of money: medium of exchange, unit of account, and measure of value. Demand deposits pass all three.
    So, that which fails the test cannot be money - no matter how you parrot such.
    Please provide a credible source for what you claim are the tests of money.

    Thought not.
    And you are and never were a Mensa member. I'd believe you to be the King of Sweden before I believe you are Mensa.
    I am not surprised you choose to be wrong about that, too, as you are clearly struggling with the challenge of producing grammatical English sentences.
    You seem to struggle with it.
    Lie.
    It is not hard to imagine, because you are an idiot.

    I did not post that to support your red herring here.
    Please reread the post you were purporting to answer.
    You asked "where did the money go?" and I showed you..
    No, you only showed one possibility of where some of it has gone since 2008. And you still haven't explained its relevance. I'm starting to think you never will.

  5. #124

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    Quote Originally Posted by Black Flag View Post
    Except for short episodes, the banks lent out such money.
    Then why did the Fed's "unconstrained" money printing never lead to hyperinflation?
    The key word, Roy is Excess Reserves - that which the depository banks have in excess of their legal requirements to hold with the FED.
    No, the key word is "since," as in "since the Fed started paying interest on excess reserves in 2008."

  6. #125

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    Quote Originally Posted by Roy L View Post
    Then why did the Fed's "unconstrained" money printing never lead to hyperinflation?
    Because the Bankers DO understand restraint.

    The Bankers fully understand that hyperinflation would be an "unconstrained" disaster capable of ending Western Civilization as we know it.

    No, the key word is "since," as in "since the Fed started paying interest on excess reserves in 2008."
    Do you honestly believe that the FED paying 0.25% is such a rate to cause banks to forgo market rates orders of magnitude higher as the reason they have piled up nearly $2 trillion in excess reserves?

    Even you can't be that naive.

  7. #126

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    Quote Originally Posted by Black Flag View Post
    Because the Bankers DO understand restraint.
    ?? ROTFL!!! You can't be serious, in Dr Strangelove's delicious phrase, "for reasons which must be all too obvious at this moment."

    Watch "Inside Job," and try to get some kind of clue.
    The Bankers fully understand that hyperinflation would be an "unconstrained" disaster capable of ending Western Civilization as we know it.
    Everyone does. The bankers are only different in that they think they can find a way to profit by it.
    Do you honestly believe that the FED paying 0.25% is such a rate to cause banks to forgo market rates orders of magnitude higher
    Oh, really? What are they going to lend for at those "orders of magnitude higher" rates? Home mortgages? Commercial real estate? Stocks? Credit card debt? Uninsured foreign sovereign debt default hedge swaps? What? They are scared $#!+less right at the moment, dumpling, and they want safety. The Fed is giving it to them, plus interest.
    as the reason they have piled up nearly $2 trillion in excess reserves?

    Even you can't be that naive.
    You posted the graph, dumpling. That's what it shows, whether you like it or not. You are just trying to run away from it, crying, like a little girl.

  8. #127

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    Quote Originally Posted by Roy L View Post
    Watch "Inside Job," and try to get some kind of clue.
    Poppycock.

    You hold that the bankers therefore have nothing to risk by creating hyperinflation.

    ...and as you are truly a child, we are done.

  9. #128

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    Quote Originally Posted by Black Flag View Post
    You hold that the bankers therefore have nothing to risk by creating hyperinflation.
    You just always have to lie about what I have plainly written. That is normal, routine, and expected. All apologists for privilege, greed and injustice have to lie. That is a natural law of the universe. There has never been an exception to that law, and there never will be.

    The bankers have somewhat less to risk by creating hyperinflation than Mugabe. But having something at risk didn't stop him, and it won't stop them.

  10. #129

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    Quote Originally Posted by Roy L View Post
    The bankers have somewhat less to risk by creating hyperinflation than Mugabe. But having something at risk didn't stop him, and it won't stop them.
    Comparing Zimbabwe with US is just your style - utterly irrelevant and without any merit.

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