Deliberate Economic Illiteracy

[Mercer]

If their counterfeiting that the Federal Reserve & Treasury operate (the reason the rich keep getting richer) isn't harmful to the economy why do they even tax us? Why not just print up what they'd be taxing? Why do they have to take out loans in the form of bonds? Why not let anyone print money? We'd all be rich, right?

 

These basic questions should be simple enough to answer right?

 

Heres Biden's chief economic adviser:

 

Edited May 3 by Mercer

[Mercer]

[mr.yuck]

Im here for it.

[ndv]

Ok.  I laughed right after he sat down and said that. Then paused the video to post this.

 

 

That second post is absolute ridiculous.

 

Back the to show.

Edited May 3 by ndv

[ndv]

Wow!  The video just keeps getting worse. 

 

Isn't that clip from a documentary, looks kinda familiar now that I think of it. 

Edited May 3 by ndv

[KILZ FILLZ]

Wow that was total gibberish! We are cooked lol

[Mercer]

 

 

[Mercer]

 

 

Richard Cantillion 1680's - 1834

 

He was the first political economist, and discovered the act of inflating currency not only raised prices like we're seeing now, but it also favored investors, while harming wage earners disproportionately. Something we still call the "Cantillion Effect" today.

 

To understand inflation, one must understand the intrinsic worthlessness of money in the first place. While it's a valuable tool for trade/commerce, each person being handed 10 Trillion dollars all at once wouldn't solve any problems, or make anyone rich. The abundance of money would be met with the same number of goods and services available granted everyone continued working/producing the same. Prices would have to rise in relation to the amount of goods and services available or there simply wouldn't be anything at all to buy with those trillions.

 

What makes people "rich" isn't the amount of money an economy, or a person has, it's the abundance of goods and services people are able to buy with said money. This is why places where people have a high economic output and make abundant goods, or render abundant services tend to be richer, while places where people aren't as economically productive tend to be poorer. The same usually applies to individuals in relation to their individual economic output.

 

It's important to note economic output isn't directly correlated with how hard a person works, and is more easily correlated to how well they're compensated outside of being handed something for free. A ditch digger might work much harder than a doctor physically, but the doctor earns more because people value what he provides more than what a ditch digger can.

 

 

 

Cantillion Effect:

 

The Cantillion effect describes how the wealth gap increases when the government prints a bunch of new money. The first person to spend counterfeit is spending at the price of goods and services before the counterfeiting, but as the people they spend that money with begin to spend their new money, and the people receiving the money after them spend the new money, prices slowly rise. This is what is steadily increasing the wealth gap in the united states.

 

Bankers cozy with the Federal Reserve get that counterfeit electronically deposited in their Federal Reserve accounts, and start introducing that money into the economy, usually with investors, and wall street getting the next dibs to spend the new money. By the time that new money makes it's way to you and me, prices have already gone up long ago. This is why Groceries are almost double pre-pandemic prices now, but your wages aren't. MEanwhile all these rich people are doing better than ever.

 

 

 

 

 

 

 

 

The Cantillion effect is what's widening the wealth gap, and it has been ever since we were taken off from the gold/silver standard, and money was able to be counterfeited legally.

 

 

 

 

 

 

 

If you want to know what happened in 1913 that we've never recovered from, that's when the Federal Reserve was created by a cartel of Americas largest banks. The wealth gap up until then was either stable, or shrinking, since then it's simply grown disproportionately. 

[ndv]

I agree with this in an adverse way with crypto.  So for example, and it's just me, but, there is a dealership who accepts BTC in exchange for a vehicle.  Me personally, since fiat is an option to use to make the se purchase, at this time, I do not see why I would trade something that is only going to gain in value for something that is going to decrease in value right off the lot.  Not until fiat is no longer acceptable then crypto makes sense.  

 

But until then, I trading fiat which decreases in value for something that decreases in value is a fair trade.  My thing is, why would I give someone something that will increase in value for something that decreases in value.  

 

I understand his point of view and business model as well as recognizing the future, but buying assets in BTC at this time while there is still a fiat.  It may sound counterintuitive but I still think it's wiser to convert btc to fiat in exchange for something as this is a good way to control one's own wealth gap.

 

Basically, by doing it this way at this time would still make the rich have to put that money to work to make them more money to feel the pay off.  You have now made them the ditch digger.  It tips the scales.

 

Until crypto becomes the dominate currency, I don't see purching depreciating assets with crypto other than land. 

[misteraven]

Whoever that dickhead economic adviser that fumbled the questions in the video floating around... Only in today's world is there no consequence for that incompetence. Dude should have been publicly humiliated from all sides and angles and fired. If there was any integrity in politics, some of the people he reported into and responsible for hiring him should have been publicly castrated until they stepped down.

 

Instead, it just serves as another talking point for people to argue about, while we keep driving towards that cliff.

[Mercer]

22 hours ago, misteraven said:

Whoever that dickhead economic adviser that fumbled the questions in the video floating around... Only in today's world is there no consequence for that incompetence. Dude should have been publicly humiliated from all sides and angles and fired. If there was any integrity in politics, some of the people he reported into and responsible for hiring him should have been publicly castrated until they stepped down.

 

Instead, it just serves as another talking point for people to argue about, while we keep driving towards that cliff.

 

 

The lie is obvious to anyone who understands basic supply & demand. The more overall money in supply, the less value individual units of that currency hold. The lie itself (denial of this basic fact) being upheld is more important to the powers that be than him fumbling this basic question. After all, we all fumble when we're trying to navigate a web of lies we create, which is why honesty is much easier. The lie the People in power who are profiting from legal counterfeiting want you to believe: more money being printed up out of thin air is good for our economy. This is the only thing he can't challenge.

 

This brings me back to the first political economist, Richard Cantillion:

 

 

 

Ever since he published his obscure manuscript, most political economists to follow have pretended his findings were their own if another plagiarist hadn't already. This is exactly what Adam Smith did, who wouldn't even credit, or site his own mentor Francis Hutcheson. The ideas Adam Smith plagiarized did make a major impact and were the first popular push for free markets, but his misunderstanding of the ideas he plagiarized lead to several dead end philosophies due to his confused writings. 

 

The Austrian Economic School was the main body of economists to come along after Adam Smith, and build on the findings of Cantillion and his successors. Austrian Economic theory became so influential, and so prominent it basically debunked all others for a time. The subjective value theory it's based on became the foundation for all other successful economic schools of thought to follow.

 

The Austrians perspective that currencies should follow a gold standard, and not be debased was inconvenient for those in power who's concerns revolved around how to fund wars endlessly. During that time World wars were all the rage for parasitic monarchs, oligarchs, and elected officials.. That's when This dickhead below came along, and perverted economic theory once again to favor the ruling class:

 

John Maynard Kenes

 

 

If Keynes looks a little off to you, that's just because he liked fucking underage teenage boys (documented). He came up with an economic philosophy that said the government being able to counterfeit money was somehow a good thing basically. In short he said they could stimulate the economy during recession using this method of counterfeiting. Well the powers that be liked this idea so much it became the adopted official economic theory of every government, and central banking cartel that likes to print money for themselves which is pretty much all of them.

 

Obviously, this printing of free money isn't a good thing for citizens who's savings are slowly eroded, and wages are artificially lowered over time. So Western economic thought for the last 100 years or so has been based around an obvious lie this child molester came up with.

 

 

 

That's why he fumbled that basic question, it's harder to navigate a web of lies than it is to speak the truth.

 

 

 

 

 

 

 

[ndv]

I think most people believe that when the federal reserve prints money, it must mean our economy overall has grown or doing good.  This is why the title of the thread perfectly describes the mass majority. 

 

As for numnuts staying that. I believe it is a clip from this documentary on Netflix

 

Or it was thus one

 

 

If not one of those, then it's some documentary on netflix or somewhere.