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[T-M-T]

Paul Krugman Laughs At & Shatters Peter Schiff & Ron Paul's Gold Standard Scam

[marilyn.monroe]

Paul Krugman Laughs At & Shatters Peter Schiff & Ron Paul's Gold Standard Scam

Lost me at gold is voodoo. I see a fiat as more voodooish or symbolic of the evil bankers than a rock dug out the earth. I'm for the barter system.

[marilyn.monroe]

Again Peter Schiff has to take charge and correct the idiots from academia and the Beltway!




Peter Schiff Owning Everyone's *** on C-span]http://www.youtube.com/watch?v=YW9f2KsyaOI&feature=youtu.be#ws]Peter Schiff Owning Everyone's *** on C-span

Ben Bernake! Super Ben, loaning billions to failed billionaires! A real American zero.

Peter Schiff Owning Everyone's *** on C-span

[sammy]

Lost me at gold is voodoo. I see a fiat as more voodooish or symbolic of the evil bankers than a rock dug out the earth. I'm for the barter system.

It takes a lotta chickens to pay for a root canal!

[marilyn.monroe]

It takes a lotta chickens to pay for a root canal!

I guess that depends on how hungry the dentist is.
Bartering can include alternate currency, like bitcoins or the Liberty dollar. 

[SidecarFlip]

I guess that depends on how hungry the dentist is.
Bartering can include alternate currency, like bitcoins or the Liberty dollar.

..............or trim......

[Professor H]

..............or trim......

It's been a while since I paid attention to the other vendors in the trade exchange ...   

[Frenchfry]

For those that are too young to remember, "trim" was slang for sex.
The meaning of "taking it out in trade" is a little less obscure IMO.

[SMASH]

Fractional Reserve Banking tutorial.
About 10 minutes long.
Enjoy.






Fractional Reserve Banking

[SMASH]

Fractional Reserve Banking tutorial.
About 10 minutes long.
Enjoy.






Fractional Reserve Banking

Man, I've been out of the loop for a couple of days and haven't had time to check in on this video.
I thought this one would at least get some kind of flinch out of someone?

With the policy of Fractional reserve banking being one of the core reasons why we are where we are I thought someone would be in freak out mode.

I guess no one either gets it, ot no one cares.

The riddle of high gas prices, and high food prices, and artifically low interest rates, and BS mortgages, and health care prices through the roof, and Fractional Reserve Banking don't click with the average American Peep?

Go figger.

[jbs49238]

Or we just disagree.

[John Kopke]

Paul Krugman Laughs At & Shatters Peter Schiff & Ron Paul's Gold Standard Scam

Does your pasting this video mean you stand behind what Krugmen says?

[John Kopke]

Krugman compares the Euro to the gold standard, in that, a Greece or a Portugal on their own can't print currency. They're stuck with a Euro that is somewhat finite like gold. They can't just create it out of thin air. But the European Central Bank can print Euros and they are, so it is, in fact, being created out of thin air.

Krug doesn't like the gold standard because it is vital that we have monetary policy managed by human intelligence. That would be the folks at the Federal Reserve, other world central banks, the federal government and of course the big banks. Weren’t these same folks running the show before 2008? 

The situation is the western governments have saddled themselves with entitlement programs they can't nearly pay for. So in Europe, and the United States, the solution is to cover the shortfalls by borrowing money. What we're seeing is the weak sisters in Europe ala Greece etc. beginning to fall. Nobody in their right mind would loan these folks real money!

So how does a Greece cover the checks it needs to write? Is Germany going to loan them the money? Is France going to borrow more money so they can loan it to Greece? Are FF, T-M-T, JBS and Krugman going to buy Greek bonds? How long will Euro members allow the ECB to loan printed money to Greece/Spain/Portugal…… as the Euro sinks, dragging them all down?

Here is the thing folks. They throw enough printed money at a Greece to keep them from drowning today, and maybe for the next 6 months. Then what? Will Greece then have it’s financial house in order? Will Greece have made huge cuts in entitlement spending,  raised taxes and shazaam have a balance budget? Or will they be back needing another fix?

Let me tell you something folks. This is what Krugman is talking about when he refers to “managed by human intelligence“. They aren’t fixing the problem they’re putting it off. And the massive debt problem isn’t solved with more massive  debt, it is made worse. Much worse.   

[Frenchfry]

Krugman compares the Euro to the gold standard, in that, a Greece or a Portugal on their own can't print currency. They're stuck with a Euro that is somewhat finite like gold. They can't just create it out of thin air. But the European Central Bank can print Euros and they are, so it is, in fact, being created out of thin air.

Krug doesn't like the gold standard because it is vital that we have monetary policy managed by human intelligence. That would be the folks at the Federal Reserve, other world central banks, the federal government and of course the big banks. Weren’t these same folks running the show before 2008? 

The situation is the western governments have saddled themselves with entitlement programs they can't nearly pay for. So in Europe, and the United States, the solution is to cover the shortfalls by borrowing money. What we're seeing is the weak sisters in Europe ala Greece etc. beginning to fall. Nobody in their right mind would loan these folks real money!

So how does a Greece cover the checks it needs to write? Is Germany going to loan them the money? Is France going to borrow more money so they can loan it to Greece? Are FF, T-M-T, JBS and Krugman going to buy Greek bonds? How long will Euro members allow the ECB to loan printed money to Greece/Spain/
Portugal…… as the Euro sinks, dragging them all down?

Here is the thing folks. They throw enough printed money at a Greece to keep them from drowning today, and maybe for the next 6 months. Then what? Will Greece then have it’s financial house in order? Will Greece have made huge cuts in entitlement spending,  raised taxes and shazaam have a balance budget? Or will they be back needing another fix?

Let me tell you something folks. This is what Krugman is talking about when he refers to “managed by human intelligence“. They aren’t fixing the problem they’re putting it off. And the massive debt problem isn’t solved with more debt, it is made worse. Much worse.

Austerity measures tend to depress economic growth, which ultimately causes governments to lose more money in tax revenues. In countries with already anemic economic growth, austerity can engender deflation which inflates existing debt.
http://en.wikipedia.org/wiki/Austerity

[John Kopke]

Austerity measures tend to depress economic growth, which ultimately causes governments to lose more money in tax revenues. In countries with already anemic economic growth, austerity can engender deflation which inflates existing debt.
http://en.wikipedia.org/wiki/Austerity

un

So FF are you willing to buy Greek Bonds to tide them over until their economic
growth solves the problem? By the way. How's the Greek economy doing?

Just a bridge loan away from exploding?