Big mistake going off the gold standard. Other countries like - China bought US Treasury Bonds

Posted: Oct 13th, 2018 - 12:12 pm In Reply to: US has had fully fiat currency for last 47 years.. - No sky fallen yet

so they own our debt. What happens when they stop buying our debt?

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Stop the madness, learn economics, - The operational reality of US govt (Views: 181, 2018-10-13, 7:53 am)
- Modern monetary theory is all backwards. If the govt can set - values for the worth of X by (Views: 143, 2018-10-13, 7:58 am)
  - MMT is simply put, the "inner party" controls all the - money, both fiscal and monetary (Views: 132, 2018-10-13, 9:15 am)
- A quick Wiki search shows this theory thinks that since a - govt controls the monetary printing (Views: 210, 2018-10-13, 8:21 am)
  - They fail to realize that any money a government prints is - fiat money unless there is something to back (Views: 128, 2018-10-13, 8:27 am)
    - Party on the printing press! That is what John Maynard - Keynes did, the Communists and Turks (Views: 206, 2018-10-13, 11:28 am)
      - This just makes it easier for govt officials to embezzle - money to fund their lavish lifestyles. (Views: 154, 2018-10-13, 12:20 pm)
    - Nope. - Sm (Views: 155, 2018-10-13, 11:44 am)
      - "Can be managed with taxes and stabilizers," - In other words, raising taxes. (Views: 130, 2018-10-13, 11:53 am)
    - US has had fully fiat currency for last 47 years.. - No sky fallen yet (Views: 104, 2018-10-13, 12:04 pm)
      - Then why keep talking about the debt? Why care about the - interest rate? Is the debt really there? (Views: 113, 2018-10-13, 12:08 pm)
        The deficit is necessary. - Sm (Views: 115, 2018-10-13, 12:18 pm)
        Thank goodness the world and American citizens take our - printed, fiat currency at near zero (Views: 193, 2018-10-13, 12:30 pm)
      - Big mistake going off the gold standard. Other countries like - China bought US Treasury Bonds
  - No, spending should still be controlled - Understanding funding and demanding (Views: 135, 2018-10-13, 12:00 pm)
- This sounds convoluted. Bottom line is, it's probably going to - work for about 10 years or so. Then, (Views: 142, 2018-10-13, 8:24 am)
- So who is financing this debt? - nm (Views: 107, 2018-10-13, 8:29 am)
  - Well, you see, the debt "isn't really there," because the - gov just prints more money to cover (Views: 127, 2018-10-13, 8:37 am)
    - Just in case you haven't read the other - Comments (Views: 141, 2018-10-13, 11:52 am)
- What is modern about it? Current economics is the same as - old economics. Revisionism is the (Views: 132, 2018-10-13, 8:54 am)
  - Creation of money out of thin air leads to increased - supply of money, which leads to (Views: 119, 2018-10-13, 9:18 am)
    - Nope - Controlled by taxes (Views: 129, 2018-10-13, 11:47 am)
      - So govt created money feeds the pig that is the federal govt - and federal-related spending, (Views: 113, 2018-10-13, 12:05 pm)
        Without the austerity threats - Funding to the society (Views: 106, 2018-10-13, 12:20 pm)
- Unlimited budget for government. - nm (Views: 142, 2018-10-13, 10:25 am)
  - No, not unlimited...and we need to demand it be spent - On ALL of us (Views: 110, 2018-10-13, 11:49 am)
    - "When the people find that they can vote themselves - money, that will heard the end of the (Views: 131, 2018-10-13, 11:55 am)
      - Um...there is still Congress in the equation - We need to Learn and Demand (Views: 164, 2018-10-13, 12:22 pm)
        Ah, now we are getting to what this is really all about. - Socialism. I'm not for corporate (Views: 146, 2018-10-13, 12:37 pm)
        That is not socialism - Sm (Views: 141, 2018-10-13, 3:42 pm)
        Central planning never works because it does not incorporate - human nature. (Views: 127, 2018-10-13, 4:13 pm)
- Economics 101 - See link (Views: 130, 2018-10-13, 6:01 pm)