Here's what the problem with money is

Into the Night said:
? Try English.
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That was English. If there's no currency standard, it would tend to stifle the buying and selling of goods and services.

Rewording it while keeping the original intent intact was a bitch.

Lemme go easy:

No set money standard = hardly any commerce.
 
Or we are stuck with idiots wasting our time and effort, with their endless money stories...

now...

get it players?

or not?

(keep replying to me with money stories geniuses, others are a bit more careful than you...so wake up!)
 
Matt Dillon said:
That was English.
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No, it wasn't. It was just another string of meaningless buzzwords. Why are you defending this?
Matt Dillon said:
If there's no currency standard, it would tend to stifle the buying and selling of goods and services.
Rewording it while keeping the original intent intact was a bitch.
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Rewording what? Buzzwords are meaningless.
Matt Dillon said:
Lemme go easy:

No set money standard = hardly any commerce.
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What do you mean by a 'set money standard'?
Value that it has? The name of the currency? The unit of account it uses?

Commerce is heavily curtailed now, not because of any currency, because Democrats have shut down the economy everywhere they could.
 
Into the Night said:
No, it wasn't. It was just another string of meaningless buzzwords. Why are you defending this?

Rewording what? Buzzwords are meaningless.

What do you mean by a 'set money standard'?
Value that it has? The name of the currency? The unit of account it uses?

Commerce is heavily curtailed now, not because of any currency, because Democrats have shut down the economy everywhere they could.
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english-do-you-speak-it.gif
 
Into the Night said:
The Great Depression was not caused by any currency.
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Even the conservatives admit that it was deflation that destroyed the banks.

Monetarist view

Crowd at New York's American Union Bank during a bank run early in the Great Depression
The monetarist explanation was given by American economists Milton Friedman and Anna J. Schwartz.[28] They argued that the Great Depression was caused by the banking crisis that caused one-third of all banks to vanish, a reduction of bank shareholder wealth and more importantly monetary contraction of 35%, which they called "The Great Contraction". This caused a price drop of 33% (deflation).[29] By not lowering interest rates, by not increasing the monetary base and by not injecting liquidity into the banking system to prevent it from crumbling, the Federal Reserve passively watched the transformation of a normal recession into the Great Depression. Friedman and Schwartz argued that the downward turn in the economy, starting with the stock market crash, would merely have been an ordinary recession if the Federal Reserve had taken aggressive action.[30][31] This view was endorsed by Federal Reserve Governor Ben Bernanke in a speech honoring Friedman and Schwartz with this statement:

Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve. I would like to say to Milton and Anna: Regarding the Great Depression, you're right. We did it. We're very sorry. But thanks to you, we won't do it again.

— Ben S. Bernanke[32][33]
The Federal Reserve allowed some large public bank failures – particularly that of the New York Bank of United States – which produced panic and widespread runs on local banks, and the Federal Reserve sat idly by while banks collapsed. Friedman and Schwartz argued that, if the Fed had provided emergency lending to these key banks, or simply bought government bonds on the open market to provide liquidity and increase the quantity of money after the key banks fell, all the rest of the banks would not have fallen after the large ones did, and the money supply would not have fallen as far and as fast as it did.[34]

With significantly less money to go around, businesses could not get new loans and could not even get their old loans renewed, forcing many to stop investing. This interpretation blames the Federal Reserve for inaction, especially the New York branch.[35]

One reason why the Federal Reserve did not act to limit the decline of the money supply was the gold standard. At that time, the amount of credit the Federal Reserve could issue was limited by the Federal Reserve Act, which required 40% gold backing of Federal Reserve Notes issued. By the late 1920s, the Federal Reserve had almost hit the limit of allowable credit that could be backed by the gold in its possession. This credit was in the form of Federal Reserve demand notes.[36] A "promise of gold" is not as good as "gold in the hand", particularly when they only had enough gold to cover 40% of the Federal Reserve Notes outstanding. During the bank panics, a portion of those demand notes was redeemed for Federal Reserve gold. Since the Federal Reserve had hit its limit on allowable credit, any reduction in gold in its vaults had to be accompanied by a greater reduction in credit. On April 5, 1933, President Roosevelt signed Executive Order 6102 making the private ownership of gold certificates, coins and bullion illegal, reducing the pressure on Federal Reserve gold.[36]
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https://en.wikipedia.org/wiki/Great_Depression#Monetarist_view

No sane person denies that the banks failed because the money that they were being paid back with was worth far more than the money they had loaned out.
 
Into the Night said:
Why do you want to pay for parking?
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Nothing in life is free; isn't that what the alt right always says when talking about healthcare. If stores want to offer free parking, then let them. Why should the government force stores to offer free parking? It requires everyone to pay in for just some of the people.
 
Into the Night said:
Is it? You are charged fees for having the card, even if you never use it or pay off the entire balance every month. You benefit from what? A credit card? From debt or the ability to go into debt?
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The credit cards I deal with are no-fee, cash back credit cards. I literally pay nothing but my statement balance, and then get 1% to 5% of what I spend back. This money comes from the fees charged to retailers. The retailers have to charge people who pay cash more, because they are not allowed by the government to charge credit card customers more than cash customers.

I literally get paid several thousand dollars a year by my credit card companies.

You did not know this?
 
Walt said:
Even the conservatives admit that it was deflation that destroyed the banks.


...deleted Holy Link...

No sane person denies that the banks failed because the money that they were being paid back with was worth far more than the money they had loaned out.
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No. Speculation destroyed banks. Money was not being paid back.
Why would a bank fail if the money paid back is worth more?
 
Walt said:
Nothing in life is free; isn't that what the alt right always says when talking about healthcare. If stores want to offer free parking, then let them. Why should the government force stores to offer free parking? It requires everyone to pay in for just some of the people.
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What government is forcing stores to offer free parking?
 
Walt said:
The credit cards I deal with are no-fee, cash back credit cards.
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All credit cards have a fee, one way or the other.
Walt said:
I literally pay nothing but my statement balance, and then get 1% to 5% of what I spend back. This money comes from the fees charged to retailers. The retailers have to charge people who pay cash more, because they are not allowed by the government to charge credit card customers more than cash customers.
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So you say you've found a credit card company that give you money and makes no money of it's own. Enjoy them while it lasts. How do you expect them to stay in business?
Walt said:
I literally get paid several thousand dollars a year by my credit card companies.

You did not know this?
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I don't believe you. I think you are making shit up.
 
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