Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

Yavin4

(35,354 posts)
15. "our currency is based on our willingness to go to work tomorrow and to pay taxes on our earnings"
Mon Oct 22, 2012, 01:40 PM
Oct 2012

Wrong. Dead wrong. The value of our currency is based on the demand for it from other nations. If the world is willing is pay a negative real interest rate for our debt, then we cannot be broke.

K&R abelenkpe Oct 2012 #1
It's all a ruse RegieRocker Oct 2012 #2
Eco 101 explains why this is a bad idea Gman Oct 2012 #3
I've never taken a real Econ class in a college or university slackmaster Oct 2012 #92
Correct. bemildred Oct 2012 #4
Why would anyone ever work then? Boetie Oct 2012 #67
You'ld like this cartoon... hunter Oct 2012 #70
Maybe those idiots on the island Boetie Oct 2012 #101
To get money. It's paper now, eh? And it's still legal tender. bemildred Oct 2012 #71
How can you "underdo" it? Boetie Oct 2012 #99
Not print enough, not put enough in circulation, not pay working people enough, bemildred Oct 2012 #100
What if the value of people's money Boetie Oct 2012 #102
First off, it has no intrinsic value, it's paper. Nowadays it's not even that. bemildred Oct 2012 #103
bemildred...American workers have a decreasing share of the national wealth. This "no consequence" Romulox Oct 2012 #106
That's because the game is rigged. As Ms Warren says. bemildred Oct 2012 #107
Rampant inflation (e.g. of housing prices) does not and has not helped common people. nt Romulox Oct 2012 #109
Indeed. nt bemildred Oct 2012 #112
How is it rigged? And how do we "re-rig" it? Boetie Oct 2012 #111
Our money supply is in the hands of bankers and the wealthy. bemildred Oct 2012 #114
What stats are you referring to? Boetie Oct 2012 #116
Concentration of wealth. "Redistibution". bemildred Oct 2012 #121
By confiscation you mean taking property by force, is that right? Boetie Oct 2012 #123
Taxes. bemildred Oct 2012 #126
Do you wish harm to me if I don't want to hand over my property? Boetie Oct 2012 #132
Of course not. Do you wish to harm me if I raise taxes? nt bemildred Oct 2012 #134
No. Why do you advocate redistribution and taxation if you don't wish harm on others? Boetie Oct 2012 #136
The present arrangements are not harmless either. nt bemildred Oct 2012 #139
Who are you backing for President? Thanks for answering my simple question. uppityperson Oct 2012 #149
What are businesses competing for? Boetie Oct 2012 #120
Power and control. Money is one of the tools, one of the counters. nt bemildred Oct 2012 #122
Do they compete for your business, your money? Boetie Oct 2012 #124
They hate competition. But yes, they want your money. nt bemildred Oct 2012 #127
Is this not a voluntary act, you giving a business money in exchange for a good? Boetie Oct 2012 #131
That depends on whether you are being coerced. bemildred Oct 2012 #133
So, business in the free market is voluntary, and the state is coercion, yes? Boetie Oct 2012 #137
Businesses are perfectly capable of coercion, as everybody knows by experience. bemildred Oct 2012 #141
When you exchange money for a product, are you not voting for that product (in an economic sense)? Boetie Oct 2012 #143
No. I'm buying something I presumably need or want. I may or may not have choices. bemildred Oct 2012 #145
Yes, because you can go without, or you can buy it. No one is putting a gun to your head. Boetie Oct 2012 #146
PS: I'm not saying there are no consequences to inflation. I lived through the 70s and 80s. bemildred Oct 2012 #110
Your first point is correct, your second way off base. Romulox Oct 2012 #117
What is wealth? Boetie Oct 2012 #119
Whatever people think it is. bemildred Oct 2012 #125
What do you mean "there is nothing to appreciate?" Boetie Oct 2012 #108
It's little magnetic dots somewhere, that's what I mean. bemildred Oct 2012 #115
Doesn't everything we value come from our perceptions? Boetie Oct 2012 #118
I think food, for example, is much realer than money. bemildred Oct 2012 #128
Are my productive efforts (mowing a lawn, designing a building) an abstraction or are they real? Boetie Oct 2012 #129
Quite real, unlike our money. nt bemildred Oct 2012 #130
If money represents productive real effort, than why do you advocate its arbitrary creation? Boetie Oct 2012 #135
Money represents whatever the hell you want, including that. It's ARBITRARY. bemildred Oct 2012 #138
Ok. Boetie Oct 2012 #144
Because the more money you print the less it is worth, in relative terms. Agnosticsherbet Oct 2012 #5
The Worth of Anything (including money) Is What Others Are Willing to Pay for It Yavin4 Oct 2012 #14
The world is already trying to move in many places to start displacing the dollar form oil... Agnosticsherbet Oct 2012 #29
The U.S. Treasury no longer prints Currency. (they DO still mint Coins) Volaris Oct 2012 #32
Where is there a country that bases their currency on the value of labor? Agnosticsherbet Oct 2012 #38
Paper money is printed by the Bureau of Engraving and Printing (BEP), Art_from_Ark Oct 2012 #52
That May Be Multiple Decades Away Yavin4 Oct 2012 #35
My crystal ball isn't working... Agnosticsherbet Oct 2012 #40
Hyperinflation can be just as bad. hack89 Oct 2012 #6
+1 It takes wheelbarrows full of money to buy bread. GreenPartyVoter Oct 2012 #23
True. If you print more $, it loses its value. nt Honeycombe8 Oct 2012 #84
Exactly ... 1StrongBlackMan Oct 2012 #7
Precisely. Just Look at some of the responses on this thread. Yavin4 Oct 2012 #17
But you can make your currency worthless hack89 Oct 2012 #25
Tell it to Greece and the Soviet Union KurtNYC Oct 2012 #37
Easy. You're broke when others view your currencey as worthless. n/t sharkman25 Oct 2012 #8
Yes everything is hunky dory dipsydoodle Oct 2012 #9
Ask the natives of Yap Island slackmaster Oct 2012 #10
Holy Shit. What the hell do schools teach about economics these days? PavePusher Oct 2012 #11
+1 1-Old-Man Oct 2012 #12
"our currency is based on our willingness to go to work tomorrow and to pay taxes on our earnings" Yavin4 Oct 2012 #15
So you are suggesting that our currency has no relevance for domestic use? 1-Old-Man Oct 2012 #19
No. Yavin4 Oct 2012 #24
Tell Me Where I Am Wrong Yavin4 Oct 2012 #16
However, your money can be worth less Dash87 Oct 2012 #33
A quadrillion of something with no value cannot pay for even the cheapest things. (nt) Posteritatis Oct 2012 #73
Any realistic economic theory would adhere strictly to the Laws of Thermodynamics, ronnie624 Oct 2012 #13
can you describe that in Thermodynamic terms? Volaris Oct 2012 #36
I have neither the time nor the skills to write such an essay, ronnie624 Oct 2012 #53
The rich have $50 trillion in wealth. The US just needs $1 trillion of that to balance the budget. reformist2 Oct 2012 #18
we have two 1%ers running for president. what else would you expect lol nt msongs Oct 2012 #21
Yes. The Weimar Republic could simply print all the Marks they needed. Nye Bevan Oct 2012 #20
You beat me to it. PavePusher Oct 2012 #31
Or the festivities in Zimbabwe a few years ago Posteritatis Oct 2012 #74
Have you ever looked at how much money was printed during those years? Taitertots Oct 2012 #88
Perhaps you can tell me what other nations were completely dependant on the German market Egalitarian Thug Oct 2012 #94
this is not correct, imho Enrique Oct 2012 #22
No. My Argument Is That If You Can Print Your Own Currency,... Yavin4 Oct 2012 #26
You are correct. People are just hyperizing about doing this long term, which is in fact bad. reformist2 Oct 2012 #28
ok then, let's raise social security checks to $1 million per month Enrique Oct 2012 #30
We Could Do That And Still Not Be Broke Yavin4 Oct 2012 #34
"i'm not an economics expert". That much is certain, and is the first thing you should consider when Egalitarian Thug Oct 2012 #95
Wozniak prints his own money lumberjack_jeff Oct 2012 #27
You can't be broke. hunter Oct 2012 #39
Technically, the Weimar Republic didn't go broke, but the people suffered greatly. badtoworse Oct 2012 #41
It's really not that simple though. frostfern Oct 2012 #51
The problem is inflation davidn3600 Oct 2012 #42
The upsides to hyperinflation are Zalatix Oct 2012 #43
OK. Now I know DU economics threads do not tend to be academically rigorous Nye Bevan Oct 2012 #45
Weimar is unlikely to happen. Zalatix Oct 2012 #46
Dude. Hyperinflation is not OK just because you have an apple tree. Nye Bevan Oct 2012 #47
There are SEVERAL kinds of inflation. Zalatix Oct 2012 #48
You used the phrase "The upsides to hyperinflation are". That's all I really need to say. (nt) Nye Bevan Oct 2012 #49
Import-price hyperinflation is possible. Zalatix Oct 2012 #50
"you need to bone up on some basic economics". i think you might want to read some basic econ.... dionysus Oct 2012 #87
I would answer your argument... but wait, you made none! Zalatix Oct 2012 #89
There are no upsides to hyperinflation. (nt) Posteritatis Oct 2012 #62
There are no upsides to depression either. bemildred Oct 2012 #72
Hey guys, you're BOTH right! We don't want hyperinflation OR depression! Nye Bevan Oct 2012 #76
Yes! I think you've got it. nt bemildred Oct 2012 #77
With as many jobs as we're sending overseas, both are inevitable. Zalatix Oct 2012 #85
you can't have just seriously proposed such a stupid thing. krugman wept. dionysus Oct 2012 #86
If our gobstoppingly high trade deficits don't abate, it is not stupid, but rather, INEVITABLE. Zalatix Oct 2012 #90
The Greeks should renounce the Euro and give every citizen a billion Drachmas. Problem solved! Throd Oct 2012 #44
If it were only that easy KFredrick Oct 2012 #54
Humans are only motivated by a desire to "earn money". ronnie624 Oct 2012 #55
Yet at this time nobody has money to buy anything. And they're working their asses off. Zalatix Oct 2012 #57
Post removed Post removed Oct 2012 #56
Post removed Post removed Oct 2012 #58
Hyperinflation spidly Oct 2012 #59
"Broke" isn't the problem. lumberjack_jeff Oct 2012 #60
That's Correct. Yavin4 Oct 2012 #79
I like this idea Darth_ Deciduous Oct 2012 #61
Only by creating so much that others lose faith in your ability to generate sufficient Egalitarian Thug Oct 2012 #63
W. T. F. ? Marinedem Oct 2012 #64
The U,S, Is Not "Broke" Yavin4 Oct 2012 #66
No. Marinedem Oct 2012 #68
I Never Said That There Wouldn't Be Inflation Yavin4 Oct 2012 #82
Could you possibly expand your argument beyond merely nay saying? Egalitarian Thug Oct 2012 #97
Obvious Question Boetie Oct 2012 #65
OP didn't really say anything about working leftstreet Oct 2012 #81
I believe the that the very topic Boetie Oct 2012 #98
"Cigarettes replace the reichsmark as Germany’s currency" One_Life_To_Give Oct 2012 #69
In because this thread is famous Darth_ Deciduous Oct 2012 #75
Ow mythology Oct 2012 #78
So, You Buy Into the Phony Lie About The U.S. Being Broke? Yavin4 Oct 2012 #80
Super Dollar StokeyBob Oct 2012 #83
Is this post satire or Fred Bastiat Oct 2012 #91
Welcome to DU Fumesucker Oct 2012 #96
The "Parable of the Broken Window" doesn't work when the rich are hoarding so much, though... Romulox Oct 2012 #104
Ooooo. Your Mightt Libertarian Brain Is Tooo Much For Me... Yavin4 Oct 2012 #113
Debt is what it is Lurker Deluxe Oct 2012 #140
Look dude Boetie Oct 2012 #142
The "Given this.." in my statement refers to the fact that people accept your currency. Yavin4 Oct 2012 #148
Just like any commodity rrneck Oct 2012 #93
Then let's just print a Kazillion-Brajillion bucks for each of us, and we'll all be RICH! Romulox Oct 2012 #105
Funny thing about imaginary constructs like money.. LanternWaste Oct 2012 #147
Um, money isn't an "imaginary construct". It's very real. Romulox Oct 2012 #150
Post removed Post removed Oct 2012 #151
Just hide the M3 upi402 Oct 2012 #152
Latest Discussions»General Discussion»If You Have The Ability t...»Reply #15