9 Nov 2017 9:42 pm
And I won't let YOU get away with equating a private bank to a public one, through irrelevant comparisons of minutia.Dantev2 » 08 Nov 2017 10:42 pm » wrote:
Like I said in a previous post, I would do away with money altogether, albeit gradually. It is an archaism that will one day serve no use, other than to shackle mankind to an obsolete system of profiteering and exploitation.
A public bank that prints money as a utility, and not a for-profit enterprise, would no longer route vast sums to the bankers' pockets. This is an argument with merit, and one fully supported by economist Michael Hudson (someone whose works I respect).
That being said, I maintain the core of my refutation in 2 parts (and won't let you get away with these):
1) A private bank does not "print money out of thin air."
2) The "money in circulation" to "total value" ratio is always adjusted in the long run by supply-and-demand, regardless of which entity does the "money printing."
This means, in the real world, regardless of the intentions of the power in charge of currency issuing, some groups are going to benefit and others won't, depending on the change in ratio.
You left out that most bankers in either system will have two legs and will like eggs at breakfast - yet ANOTHER similarity between a publicly owned bank and a privately owned one.
As to your first point, quantitative easing says you're wrong. As to your second point, what happens in the "long run" (theft by fiat issuance) is irrelevant to the fact that QE was a money out of thin air proposition - money which was never even printed. Just issued and held. Out of thin air.
When you complain, ur friends roll their eyes and ur enemies rejoice
"Because I SAY I am" is a todler's tantrum, not "science"
You cannot betray me - only yourself, to me.
Who cuts off your dick is not a friend
An opinion you won't defend is not your own
Humanity's Law of the Jungle: Survival NOT of the fittest, but of the tribe
When peeing in the pool, stand on the edge
If gender is not sex, why should a gender claim change what sex you shower with?
"Because I SAY I am" is a todler's tantrum, not "science"
You cannot betray me - only yourself, to me.
Who cuts off your dick is not a friend
An opinion you won't defend is not your own
Humanity's Law of the Jungle: Survival NOT of the fittest, but of the tribe
When peeing in the pool, stand on the edge
If gender is not sex, why should a gender claim change what sex you shower with?