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#31
12-26-2006, 12:39 AM
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Re: A question to ACists about money.
[ QUOTE ]
[ QUOTE ] [ QUOTE ] Massive disinformation is committed to make regular people believe the fraud. True some of the more well informed understand what is going on, but do you really think the average person does. [/ QUOTE ] For someone so well informed you obviously have no clue about how the FDIC works. Deposit insurance is not "protected by the governements ability to print money", it is a real insurance fund like any other insurance fund. Banks are charged a premium commensurate to their level of risk and those premiums are held in accounts to pay for bank failures. New money isnt printed to replace lost assets. [/ QUOTE ] This is the funniest thing I've read all day. Hint: There are is far more money ledgered in people's accounts than there exists paper dollars to cover them. The reason the FDIC exists is to "insure" against bank runs. What exactly do you think would happen in the event of a run on the national banking system, when all the depositors show up demanding their money that doesn't exist? Get a clue or stop posting about these things. [/ QUOTE ] [ QUOTE ] There are is far more money ledgered in people's accounts than there exists paper dollars to cover them. [/ QUOTE ] Does this statement make sense? Why would there need to be paper money printed to "cover" every cent of every person that was on deposit at a bank? Do we really expect everyone to convert all their deposits to paper notes simultaneously? We only need the amount of paper notes printed that people use for cash purchases daily. Maybe a little more as a buffer. Of course that is only a fraction of peoples total wealth. Paper dollars are fundamentally no different than any other document used to transfer wealth, including personal checks. Of course one may be more trustworthy than another. 
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#32
12-26-2006, 01:08 AM
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Re: A question to ACists about money.
Looking at the threaded view, every one of my posts is a response. Don't know what your talking about.
Realistically, if trends continue how long can they be expected to take the shaft from us. Our constant money printing devalues thier reserves, effectively stealing from them. Frighteningly, we only engage in more and more excessive activities, giving the the shaft more and more, in the believe they will take ever larger abuse without acting. Will they really depend on exporting to America forever. Or will there come a day when thier economy is larger, and they shut off the tap.
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#33
12-26-2006, 12:52 PM
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Re: A question to ACists about money.
[ QUOTE ]
Paper dollars are fundamentally no different than any other document used to transfer wealth, including personal checks. Of course one may be more trustworthy than another. [/ QUOTE ] The difference is that "paper" dollars can be created at will with just a few cranks of the press.
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#34
12-26-2006, 06:26 PM
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Re: A question to ACists about money.
[ QUOTE ]
[ QUOTE ] Paper dollars are fundamentally no different than any other document used to transfer wealth, including personal checks. Of course one may be more trustworthy than another. [/ QUOTE ] The difference is that "paper" dollars can be created at will with just a few cranks of the press. [/ QUOTE ] So can a personal check be created at will by a stroke of a pen. My point was that the printing of a paper dollar is not "creating money", as stated in an earlier post.
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#35
12-26-2006, 06:32 PM
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Re: A question to ACists about money.
[ QUOTE ]
[ QUOTE ] [ QUOTE ] Paper dollars are fundamentally no different than any other document used to transfer wealth, including personal checks. Of course one may be more trustworthy than another. [/ QUOTE ] The difference is that "paper" dollars can be created at will with just a few cranks of the press. [/ QUOTE ] So can a personal check be created at will by a stroke of a pen. My point was that the printing of a paper dollar is not "creating money", as stated in an earlier post. [/ QUOTE ] Hahaha. What happens when your bank account has zero dollars in it and you keep writing checks? Now, where's the account that the dollar bill printing press is balanced with?
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#36
12-26-2006, 09:05 PM
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Re: A question to ACists about money.
[ QUOTE ]
[ QUOTE ] [ QUOTE ] [ QUOTE ] Paper dollars are fundamentally no different than any other document used to transfer wealth, including personal checks. Of course one may be more trustworthy than another. [/ QUOTE ] The difference is that "paper" dollars can be created at will with just a few cranks of the press. [/ QUOTE ] So can a personal check be created at will by a stroke of a pen. My point was that the printing of a paper dollar is not "creating money", as stated in an earlier post. [/ QUOTE ] Hahaha. What happens when your bank account has zero dollars in it and you keep writing checks? Now, where's the account that the dollar bill printing press is balanced with? [/ QUOTE ] A dollar bill is a debt note. I guess a better analogy would be a credit card convenience check. And the account that the dollar bill printing press is balanced with is the "full faith and credit of the US gov't". In other words, the National Debt. If a dollar bill is printed in excess to that needed to make up for destruction of old bills, and not accounted for by other accounts or assets, then the National debt will go up by a dollar. Congress has to authorize this debt. Still the same point, no money is "created" in any real sense by the act of printing a dollar bill.
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#37
12-26-2006, 09:50 PM
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Re: A question to ACists about money.
[ QUOTE ]
A dollar bill is a debt note. I guess a better analogy would be a credit card convenience check. And the account that the dollar bill printing press is balanced with is the "full faith and credit of the US gov't". In other words, the National Debt. [/ QUOTE ] Wow. The debt is backed by the debt. It's self-backing. Nice. [ QUOTE ] If a dollar bill is printed in excess to that needed to make up for destruction of old bills, and not accounted for by other accounts or assets, then the National debt will go up by a dollar. Congress has to authorize this debt. [/ QUOTE ] So? [ QUOTE ] Still the same point, no money is "created" in any real sense by the act of printing a dollar bill. [/ QUOTE ] Ahahaha. Maybe "counterfeited" would be a better word?
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#39
12-26-2006, 10:28 PM
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Re: A question to ACists about money.
[ QUOTE ]
I love fiat money. That is all. [img]/images/graemlins/smile.gif[/img] The Fed's ability to regulate the money supply gives me a warm-fuzzy at night. [/ QUOTE ] Would it take away some of that feeling to know that the 'fed' isn't run by the government?
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#40
12-26-2006, 10:31 PM
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Re: A question to ACists about money.
[ QUOTE ]
[ QUOTE ] I love fiat money. That is all. [img]/images/graemlins/smile.gif[/img] The Fed's ability to regulate the money supply gives me a warm-fuzzy at night. [/ QUOTE ] Would it take away some of that feeling to know that the 'fed' isn't run by the government? [/ QUOTE ] It isn't?!LK!JLKJ!?!?!?!?!JL!? Thanks for the update. Atleast FedEx is, though.
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