I have been trying to find convincing evidence that Chinese yuan is interest-free as you speak, and not a form of debt to enslave the Chinese people as the Dollars enclaves us Americans. Can you give me some pointers? Thanks.
Take a look what Dylan Ratigan from CNBC says about how the FED works If you dare that is Ratigan exposes the FED http://www.msnbc.msn.com/id/21134540/vp/36233217#36233217
You're wrong, obviously... In fact, Russia just issued $5.5bn 5y and 10y eurobonds ($-denominated bonds issued by a european sovereign).
Oh, no!!!!! Woe is me!!!! The people have spoken and I am not wanted. I think I am going to go slit my wrists now, as I cannot bear the shame and the loss of face.
You're brainwashed because you have no formal (or informal) training in economics. Arguing differential equations with a person who can't do simple arithmetic is pointless. Drawing a comparison between histories largest economy and the collapse of an 18th Century trading company just underscores it. Try Argentina.
Congress can't subpoena information it's illegal to access. That's the point. The law prohibits the GAO from accessing key information about the FED. But somehow, a Congressional subpoena magically turns the law on it's head, and makes it okay? Perhaps you can explain that to me.
Well your first sentence makes no sense, so I'll leave that alone. The comparison was with an economic crises. I could have picked ANY economic crises and my point would be the same. Every time there is an economic crises there is people like you screaming about how the world will end. You said it yourself - this time is no different. But continue to live in fear for all I care, to each his own.
The ignorant are easily swayed, bud. I suggest you remedy that. Whistling Dixie won't change the facts. As far as the rest of it. Like I said, Argentina.
Well, arguing about monetary policy is like arguing religion. There's just no point. In my view, Fed is not monetizing debt. Furthermore, even if they were, the assumption that monetization alone can keep rates low is total nonsense. As to the bubbles, how do you know that you or Congress or the Supreme Court or whatever other random entity you would trust with making monetary policy decisions would have done any better? None of this makes any sense whatsoever. Let's take a hypothetical example. Let's say I am the government and I borrow money to fund a new school that will educate the population in basic principles of economics, so that they don't make stupid decisions. It's likely to be a productive investment. What possible negative "debasement" or whatever comes of this? To me, it sounds like what you're protesting is the inability of your govt to allocate resources into productive endeavors. What does that have to do with the Fed? Let's go back to my original question pls. I would like to understand exactly what you're referring to when you say "printing with interest". Is it just QE you're referring to (i.e. the outright treasury/MBS/agency purchases) or is it something else? I have no comment, this is all too far out and paranoid for me... This is not a straw man, but rather an analogy. As to what used to work in the past, that's just silly. Slavery and serfdom, at one point, were used to generate a lot of pretty remarkable growth. Why not advocate that we go back to that, given how well it worked? As to gold and silver, like seashells, they're fiat commodities and, as such, are little better than fiat paper money. That's my view. Lastly, it's not that I don't want to talk. I am just suggesting that we may be having this interminable discussion like the one about science and religion.
Save me the smarter-than-thou attitude, bud. I've taken more than enough economics courses in university to debate the topic. There are many differences with the USA of today and the Argentinian economic crises. The USD being a major factor. Don't hate because I disagree with you.