[Borodog]

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Borodog,

there is no need to create a new thread when the main one currently exists.

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Of course there is.

I refuse to participate further in a thread whose explicitly stated purpose was to troll me, and whose implicit purpose was to distort the truth in an attempt to make me look bad, and whose title instructs people to "not listen to borodog's drivel."

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A) I do apologize for implying that all ACists and Austrians regurgitate drivel. i agree with a lot of the thoughts of austrians (don't really have a clear handle on ACists beliefs) as has been shown time and again. what i do not like is how many followers of people who are well informed (i.e. you) DO end up regurgitating drivel (i.e. childish utterances) without understanding what is going on.

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Accepted. That's one.

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B) in no way shape or form did i ever misstate what the order of operations was in terms of interest rate and money supply.

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I feel like I am in a Kafka short story.

When did I ever state that you misstated what the order of operations was in terms of interest rate and money supply? I didn't because you didn't.

What you did do, for the one thousandth time, was indicate that the Austrians made mistaken claims about what the order of operations was in terms of interest rate and money supply: "this sounds like some typical drivel regurgitated from ACists or something (or austrians or whatever group is always commenting on the demise of the dollar). / first off, the statement is totally backwards . . . " That is an exact quote. That is what you said. Then you proceded to describe the situation the same way the Austrians do, indicating that apparently the Austrians are neither backwards nor regurgitating drivel. I pointed this out to you, and then you said: "the situation exactly as the austrians describe it (i.e. what the OP said) is not how it actually works in reality despite the fact that the result is the same." Thus reiterating your claim that the Austrians have it backward, like the OP, and that it is incorrect. I corrected you once more, and you proceeded to call me dense and attempt to change the subject to M3.

I've written this several times now. I don't know how to make it clearer. I've quoted your exact words and their meaning seems pretty explicit to me.

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please simply post here what you are implying i misstated or got wrong here. the only thing i can think of you meaning here is that i "put the cart before the horse" (i.e. in laying out the actions that lead to an interest rate drop i stated that money is released then itnerest rates fall rather than acknowledging that the intent to reduce interest rates was the main driver and the releasing of money, though the precipitating cause, was, in effect, the cart)

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The "cart before the horse" analogy was simply to establish that the purpose of expanding the money supply is to hit the interest rate target. I don't think this was ever in contention by anybody. I just wanted to emphasize it, lest the intent (to lower the interest rate) be lost behind the mechanism (increasing the money supply).

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C) i do apologize for being a jerk, but more so to the forums than to you.

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Unacceptable. Where I come from when you personally insult someone, that requires a personal apology.

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also i wasn't wrong about anyting i've stated and you seem to need to "teach" me about the fed's open market operations. that i clearly do not need nor did i say anything wrong in terms of the order or literal operations. the only thing i could have misstated (and please post and make me eat my own words if i'm wrong) was the intent vs. actions thing i mentioned.

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I never tried to "teach" you jack [censored] about open market ops. I was simply PROVING that the Austrians say EXACTLY THE SAME THING THAT YOU DO, which you had denied.

I have already axplained this explicitly as well, in the other thread. What this leads me to believe is that you don't actually READ the posts you are responding to, which leaves me in doubt as to whether we can EVER have any kind of meaningful discussion without getting sidetracked by ridiculous things. I mean, why am I wasting my time on this post? I have little evidence that you will read it and try to understand it before firing off some cockeyed response that misses the point of or misconstrues half of what I've said.