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Economy

Lefty Thinker

(96 posts)

21. (American) Money has value because

Reply to Loudestlib (Reply #16)

Tue Jan 29, 2013, 12:10 AM

Jan 2013

anyone can use it to pay off the debts they incur to the federal government. Even if a specific person never incurs such a debt, he or she is surrounded by people who do, creating demand for our money (so long as taxes are high enough).

As long as the money created causes equivalent increases in production there is no inflationary pressure. Because of our current level of unemployment and un/underutilization of resources this can easily be accomplished.

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Highlight:

Most of Our Debt Is Fake - Let's Abolish It [View all] eridani Jan 2013 OP

Sounds Too Good To Be True cantbeserious Jan 2013 #1

It isn't wrong Demeter Jan 2013 #7

As long as the fed met tbill obligations Warren Stupidity Jan 2013 #2

What it would have ment tama Jan 2013 #4

Just goes to show..... whistler162 Jan 2013 #3

Have a toke tama Jan 2013 #5

Considering Congress never intends to repay Social Security or other government accounts... liberal N proud Jan 2013 #6

Not only that, if we write off the combined intragovermental holdings and Federal Reserve debt... FleetwoodMac Jan 2013 #9

Sadly, "our" president dotymed Jan 2013 #14

I do understand where you're coming from. FleetwoodMac Jan 2013 #23

Most of our money is commercial bank-created through the process of loaning it out. tclambert Jan 2013 #8

The three stooges (remember those noted economists) did a routine that was exactly that. geckosfeet Jan 2013 #11

Vehemently endorsed? When? He mentioned it in his blog. geckosfeet Jan 2013 #10

Yeah, I caught that too... RevStPatrick Jan 2013 #13

The Tulip Spring Yo_Mama Jan 2013 #19

I think you are correct. But that is the nature of our economic system is it not? geckosfeet Jan 2013 #20

K&R. nt bemildred Jan 2013 #12

well, the great Jon Stewart thought the coin was a ridiculous idea and chastised Krugman about it NoMoreWarNow Jan 2013 #15

Money Loudestlib Jan 2013 #16

(American) Money has value because Lefty Thinker Jan 2013 #21

We are simply no longer represented, with zero accountability for what is now an oligarchy, and that mother earth Jan 2013 #17

Most of our debt is to working people, especially the Boomers Warpy Jan 2013 #18

It is a terrible mistake to confuse Lefty Thinker Jan 2013 #22

How crazy is it that we a private company INTEREST to make our money? yurbud Jan 2013 #24

Krugman on the job TheIronyLovesCompany Jan 2013 #25

Ask 1930's Germany or Zimbabwe right now,... TheMadMonk Jan 2013 #26

Yeah money isn't real. The secret is out. They can just print it. limpyhobbler Feb 2013 #27