Lauren Lauren..aahh. Mike is 100percent correct. On another note why the shit does RT have those criminal-illuminati-hybrid-satanworshippers-childrappin-pedophiles-reptilian fucks on their commercial yeah u know birginzki and kissinger id challenge you toe to toe you cowards!!
1. US Congress pass sanction on Iran. Promoted by pro - Israel groups in US.
2. Europe follow suit even though it destroys member countries like Greece, Italy, Portugal & Ireland which are already in economic hardships. Now as oil imports from Iran are banned, price of goods & services will go up. More hardships for the European people.
oh, thank you for you compassion for the ignorant and oppressed – the truth is that it was the goldsmiths who were responsible for storing gold and issuing receipts. we know how the system works. we shouldn't be depend on some crazy international commodity, which is gold and silver, to allow us to do what we wanna do with our 'local' economic system, we don't have to depend on manners, or opening new mines or whatever
@fistfullproduction - I'm a little confused by your comment. Yeah, at one time "the goldsmiths...were responsible for storing gold and issuing receipts", which system became one model for paper currency.
*BUT*...that whole thing didn't go out of whack until goldsmiths began to secretly issue fraudulent receipts for gold that wasn't there, and to spend those counterfeit receipts into the economy for personal gain.
Exactly what the gangster Fed owners are doing now, yes?
@nameofthepen there is a distinct possibility that the US Treasury has little or no gold left. bars that look like gold are in Fort Knox, but the world do not know if they are gold covered tungsten bars or who they belong too. there could be hundreds of billions of dollars of bogus gold bars buried beyond bank walls in the planet. the only sovereign currency, constitutional money, is: real public infrastructures, good services and fortunate people.
@fistfullproduction - This is not answering my first question. Let's get that one answered before we move on, OK? You implied that *gold* was the problem.
I suggested it was not gold which was the problem, but instead was the criminal activity by those entrusted with guarding the gold, and with the fiduciary responsibility of truthfully issuing receipts for it.
@nameofthepen Yes, indeed, but any gold standard requires fractional reserve banking – gold certificates, receipts – government is going to get involved – monopoly, coercion – A well-rationed fiat currency could serve the people far better. The fact that they do it poorly doesn't mean it doesn't need to be done right. Check history, you'd realize that gold has never served the "people" as 'their money' – gold has always been the metal for the Kings in need of more slaves and soldiers.
This just in from Alexander Hamilton: BUNK! How does one assess debt backing credit with no regard for investment to which this is applied? NEWS FLASH! It is possible to make something out of nothing and create new wealth dwarfing the cost. Granted, a huge deficit in this sort of investment bedevils us now. Yet to talk of "debt" outside the framework of its investment is blowing so much smoke. So, were financial collapse assured, its sole cause would be an investment deficit, perceived and real.
"They" will never allow gold to reach 5 to 15 thousand USD per ounce, that is why his eyes drifted to the right when he said that. If gold really were that amount, how many people do you think would be able to trade with you to get the real goods and services you needed? If gold really goes to that amount, it would only have the purchasing power that it has today anyway. -"tarotworldtour"
@SunShine8308 "They" can't stop it from happening. The market will force gold to whatever the market price will be. Manipulation can only happen to a degree. It can't happen perpetually. And gold would have dramatically increased purchasing power compared to today if it increased that much while other prices remained relatively stable, which they would.
Even if you have a "sound" currency, how does the money supply expand to accomodate natural/organic expansion? How about Population growth? Seems to me that the same problems inherent with a Fiat currency would still exist with gold or silver. What am I missing?
@24Adrian24 You're missing the fact that scarcity makes something valuable. That is why gold has stood the test of time as real money. As far as money supply - you can denominate it any way you like - grams, centigrams, milligrams. Just as long as there's gold backing to the currency. So there is no real argument that "there's not enough gold in the world."
@WreakingHavoc1 Actually, I never questioned the true value of gold/silver. Just to restate my question, how does the money supply to accomodate for natural/organic growth whether that's from expansion of business or just to accomodate population growth!
@24Adrian24 I answered that also - you just change the denomination of gold per dollar, or unit of currency. You could make it one millionth of a gram if needed. You just change the ratio. And I also think you need to review the characteristics of money versus currency. Fiat currency will NEVER hold value. Right now the dollar is holding value due to the petrodollar standard, so it is essentially backed by oil.
@24Adrian24 The purchasing power of a stable money supply simply increases as economic expansion occurs. This is what happened for the 100 years before the Federal Reserve existed. There was steady and gradual deflation which resulted in higher purchasing power of the monetary unit, and this happened under a gold standard. There was also HUGE economic growth during that period. So the argument that it's required to expand the money supply is false.
@DigitalShaolin tnx for the reply. I'm actually talking about quantity of the money supply to accomodate the expansion of an economy due to population growth. If you have a HARD lid on money, how does it expand naturally with the increase of production?
@24Adrian24 It doesn't have to expand. Population growth causes an increase in labor which puts downward pressure on wages. This happens in any monetary system. This isn't a problem though because increases in efficiency and productivity put downward pressure on prices in general. Prices fall faster than wages, so there is no loss in real wages for anyone. Increasing the money supply can prevent a nominal loss in wages, but not a real loss since that increase will also increase other prices.
it's headed that we have a problem and people in power created it and they'll have a ''solution'' and they will try world bank --- IF NOT RESISTED OF COURSE
Divisible - Make Change (cant do that with Diamonds)
Durable - (cant do that with corn)
Fungiable - dollar in my pocket will buy the same dollar in your pocket (can't do that with Diamonds or corn)
Store of Value - (Paper dollars dont do that)
Gold had all. The only limitation with gold and silver was the weight, that's why it progressed to paper money and was money up until 1971. Now you get nothing for your bank note (US Dollar)
@wineberryred Diamonds are not divisible and corn does not stay fresh for years. Plus if you bought a car with corn, you'd have to bring a lot of corn!
Gold and Silver can be melted down(divisible), does not go bad like corn, neither do they rust like iron. They're both rare, and because it's a metal, the govt cannot create more of it, which is a godsend, because politicians like to spend spend spend.
@wineberryred Excerpt Atlas Shrugged: Money is a tool of exchange, which can't exist unless there are goods produced and men able to produce them. Money is the material shape of the principle that men who wish to deal with one another must deal by trade and give value for value. Money is not the tool of the moochers, who claim your product by tears, or of the looters, who take it from you by force. Money is made possible only by the men who produce.
@wineberryred I'd never and have never advised anyone to invest in stainless steel, but if that's what you want to do, then go ahead, you're free to do what you want to do with the currency in your posession!
Mike Maloney is incredibly talented in explaining monetary history and at conveying the message to the public about the perfect economic storm that's coming. His book is an excellent read not only on gold and silver investing but on monetary history and wealth cycles. The predictions he made have been unfolding: First the threat of deflation followed by "helicopter drops" (TARP, QE1, QE2), followed by big inflation, followed by real (monetary) deflation, and finally hyperinflation. Great info!
"In time of actual war, great discretionary powers are constantly given to the Executive Magistrate. Constant apprehension of War, has the same tendency to render the head too large for the body. ..James Madison ,former President of the United States of America
A standing military force, with an overgrown Executive will not long be safe companions to liberty. The means of defence agst. foreign danger, have been always the instruments of tyranny at home. Among the Romans it was a standing maxim to excite a war, whenever a revolt was apprehended. Throughout all Europe, the armies kept up under the pretext of defending, have enslaved the people"...James Madison ,former President of the United States of America
The sad thing is that the average person in the united states could care less about monetary system and global economics. The people that truly understand the fundamentals, see where this currency system is headed. Ron Paul is rare and is 1 in many that understand the future looks doomed if we continue this Keynesian path.
"It's better to be way too early and not a second too late"
If he really believes that then he isn't a very good gold trader! In trading it is always better to buy a second too late, or put another way, to buy after the trend has been established.
@adshoiu8d He might be a value investor but rational value investors seek to maximize profit. Profit maximization - whether a trader or an investor - is dependant on the timing of the trade/investment. Entering a position just after the trend has started is the point at which profits are maximized whether a trader or investor.
Maloney is wrong in this notion that more debt-based money is necessary to pay the interest on the existing debt-based money. Robert Murphy has an excellent article debunking this myth on mises dot org that a fixed supply of money cannot pay back interest on loans.
That isn't the real reason why the national debt is soaring. It's growing because the US lacks the productivity to pay down the debt and resorts to printing.
@waldentree i thought that too at first, but after doing more research about inflation and how over leveraged the paper market is realized i was just half aware of the facts.
the guests on this show are great. the best and most knowledgeable in their fields. if u want to watch moron economists go to fox or cnn. good for loughs though.
@kcirdrab people probably would have said the same thing about gold bulls who said $1600 gold 10 years ago... lets attack his ideas, not his motives...
@kcirdrab hmm, Maloney was coincidentally selling the commodity he promotes ten years ago, those who followed his advice like me have won big time.....and will continue to win. History proves your logic sucks, and proves you wrong
@kcirdrab if you bought gold and silver in 2005 like Mike advised, you would have done very well....FACT
According to your reasoning, it was better to ignor Maloneys advice back in 2005 as he is a salesman. That would have been a big mistake back then. It will be a big mistake now. I buy gold based on rock solid fundamentals, and separating intuition from fear and greed. You are on the level of fear and greed, and you can never gain substantially from that basis
@kcirdrab I didn't mean to insult you, that wasn't my intention. I was just saying be careful getting into this investment as the risk is getting shaken out during the selloffs. Malloney never really made the 20K 'call' as a prediction, he was merely saying there is a good case for it. He never said it was a certainty, but a good possibility. To answer your question, no I don't think its a wild call, I would say these prices are logicall. I think this bull market will be epic
CA should show market prices, not just variations. In € also :) Maybe even some kind of bar chart showing relative values between gold, silver, $, €, oil, that'd be educational and informative.
1. Andrew Adler is the owner of Atlanta Jewish Times.
2. He proposed that the Israel's government should consider killing President Obama for not protecting Israel. The proposal was made in the Atlanta Jewish Times newspaper.
3. This is treason but he had apologized
4. He's a Jew
Refer :
Huffington Post dated January 21, 2012.
Titled : " Andrew Adler, 'Atlanta Jewish Times' Publisher, Apologizes For Obama Assassination Comments".
@troybr79 it would be nice for Mike to give his opinion, unfortunately there are a few babies on this thread who start casting insults and create arguments that require greater detail to carry merit (like citing a law case without explain any details or claiming to look up the NPV of Japan's outstanding debt to foreigners)... So even if Mike were reading this thread, he would be wise to stay away... Why go on the Jerry Springer show for no reason?
@bluesphere22 a less well expressed point, just because we don't sit @ the feet of yr idol gazing up @ how wonderful he is unquestioningly doesn't mean we're "babies"
If u can't see the legitimate conflict of interest there is in Maloney's position then yr wearing rose-tinted specs. Gold @ $20,000 is a wild call & deserves to be questioned.
god bless you Lauren! You're the ONLY TV HOST who actually knows what she's talking about, not to mention, an awesome roster of truly informed guests actually worth 30min out of anyone's day.
@socustrocus I just watched his vid; it doesn't say much... It appears to be mostly an advertisement to buy gold. Yet, his logic of Monetary operations is flawed (which goes back to my original comment from earlier). Coupled with his ignorance (wilfull or otherwise) of gold's history leads me to discount his opinion. He's just another hawker.
@jc2004x someone keeps flagging your comments. I don't know which one you are talking about. On a side note, i have noticed that people get flagged a lot on this page for comments that clearly should not be flagged. I'm not sure why this happens, but you should email youtube and complain if you are getting flagged for no good reason. that's absurd.
@NathanHaleLives if you peg a currency to something specific like gold, what happens is, people start to hoard the medium that the currency is pegged to
@jc2004x "if you peg a currency to something specific like gold, what happens is, people start to hoard the medium that the currency is pegged to"
People would only prefer to do that (hold unweldy metals) if the currency is unsound (easily devalued/ counterfeited/ etc)-- that why a peg "enforces" sound money policies.
Even the US dollar peg which China and other Asian countries maintains forces them to have sound currencies-- well, except when the US dollar is being devalued like crazy...
@jc2004x You have to think in terms of the value of the dollar under those cirumstances my friend lol. You will want to SELL your gold if that was the scenario because the dollar would be a much more stable currency and you would get greater purchasing power. Why is the dollar a stinking piece of garbage right now? Nothing is backing it, just reverse the process and your gold will get you mad dollars that can buy more things.
Thank you Lauren and your guest Mr. Maloney. Enjoyed his explaining and expounding on our fubar, fiat based economy. A very sharp gent, along with a very brilliant and beautiful hostess.
@RTproducer Yes I mean growth limited to GDP give or take 2% or so.. and when I say foreign debt secured by exports I mean goods or commodites (oil, lumber, gold, silver, aluminium, steel, etc...)could be used as payment to the creditor country.
@jc2004x ah, ok I see what you are saying. Let me leave the commodity backing aside as a means of balancing payments and just focus on the GDP question. I would say no, because no one know what GDP is first of all so you can't accurately gage what the increase in money should be, second of all, it doesn't eliminate the problem of concentrating power in small hands, and three, does that also mean that when GDP contracts we contract money? probably not..
@RTProducer Could it be either based on a previous year growth or a 5 year trend? I guess that's more what I am getting at... 2013's fiat currency printing could be based off 2008-2012's economy.
@RTProducer Has anyone ever asked any of the economist type people like bill black or mike maloney what a economy would look like with a fiat-based currency with money creation limited by GDP (domestic use) and a countries foreign debts secured by exports. for example if Canada owes China 3 billion, (knowing that china likes canada's lumber) canada could ship 1.5 billion worth of lumber as payment towards the debt... thanx
@jc2004x what do you mean limited by GDP. You mean limited to growth, so that it grows in line with the economy? and what do you mean when you say foreign debt "secured by exports"? If they could export the lumber then they wouldn't need to borrow the money. Not sure how this would work.
@RTProducer Demetri, he is trying to use organic commodities (lumber, sugar, etc.) as something to peg to the dollar. We talk of gold and silver, but he is trying to limit the manipulation of dollar value by measuring in lreation exports and imports. generally speaking.
@NathanHaleLives I think that can only work for non-perishable commodities that can serve as money, like oil for example. Nothing wrong with commodity based money, i just think that individuals should choose what they want to use as money, and that there shouldn't be collusion to push out private sector alternatives.
@heckler73 I'm trying to learn about this stuff... To be honest, hadn't heard of MMT till I read this thread.... Where do you find Japan's NPV of their debt?
@bluesphere22 HAhahahah As far as I know, no one has quantified stats on Japan's NPV. That's a pretty large subject to calculate. Perhaps Richard Koo knows more about that subject?
@RTProducer Oh, it wasnt MY idea, it was his. I think its a very fine line between what is privatized and what is not. When we argue for a private free enterprise system, it seems certain items are being cherry picked. Ron Paul, for instance, wants to have fiat money transparency by pegging it to gold. I think Minsky answers this question with MMT. In today's world, no one is regulating the private sector and if we want to stop THEM, we must also regulate ourselves. agreed?
@NathanHaleLives I think it's far more complex than the way it is presented in the media (i include our own show in that), but it's very hard to deal with the details because most people will gloss over, and its hard to have that conversation on TV. I think the problem is anything the is anti-competitive and promotes cartel and oligarchy. We had robber barons and private cartels when gov was smaller, so shrinking gov in and of itself is not the solution. Don't know how I feel about MMT though
@RTProducer Agreed, it is VERY complicated. I think if we deal with the money issue though, there would be MUCH less corruption as a root cause of the problems we face. I think the Fed is one example of taking privatization too far. I think a great start would be to have Randall Wray on. Ron Paul says it himself via the Constitution, that gold and silver is a government tender in payments of debt. FDR used socialism in the New Deal. Monetary state regulation is desperately needed.
@RTProducer MMT is what Ron Paul is actually advocating...didn't get to finish that last sentence in the previous commment. If we can regulate money through the force of people's will, we can find a more level and competitive playing field as a counter balance to certain types of core government regulation.
@RTProducer You are not alone in contemplating the merits of MMT. It took me nearly a year to accept its validity (but still with minor questions). Keep in mind, it is mostly a Positive Economic response. It is not Normative. It describes the basic mechanics of a "functional" Economy from a Monetary/Fiscal policy union. But it doesn't account for any socio-economic outliers that may arise. That requires an Ethical Policy, which is more indeterminate. But I could be mistaken.
@heckler73 I would agree on the ethical and moral aspects of MMT. Not everyone can be a millionaire so we have to accept the reality that there will be people without money. If private enterprise wield ALL the power (the Fed, Goldman Sachs) then we get this...this nightmare. The government has to be a vehicle in which the people can ALSO voice their power to create stable and thriving economies. MMT is one way in which itis resolved.it's FDR's New Deal gold pegged money minus the FED.
@NathanHaleLives I'm sorry, but I don't see how MMT is gold-standard minus the FED. Can you expand on that, please? Commodity Standards imply a cap on money creation that is extraneous to actual "demand" for liquidity. That only creates boundaries which are more antagonistic to "natural growth". This implies a "products chasing money" paradigm which can only "grow" into deflationary spirals. Money is energy... More people = more money.
@jc2004x You are trying to base the money supply on commodities, which isn't a bad idea, but you still have the privatization aspect making it difficult to gauge exports and import variables. Why not just peg the dollar to gold and have the government print it up. It's the best hope we have right now.
@jc2004x If China wants $1.5Bn of lumber, and it has $CDN1.5Bn in Foreign Reserves (or an equal amount of reserve RMB to sell on the "open-market") then it is a zero sum game, no?
@jc2004x Bill Black might know, but he is more knowledgeable in what we need more of...state regulation for and by the people. I doubt Maloney would know. Mike Maloney has a specialty in Austrian styled economics (Von Mises, Hyak, etc), He is not a comprehensive expert on economic systems nor does he understand the deeper ramifications of free markets. Black might know because he has worked in government and he understands the realities of economic and fiscal policy related to GDP
@NathanHaleLives Hasn't Black been on already? And he uses a shitty Skype connection that causes his syllllllllllllllllllllables to get stretched out to annoying proportions. I demand he be given better internet!!!
@heckler73 yeah he has. lol And I agree, he needs to "get hip" on that Skype action yo!!!!! I am going to add you, you have your head on straight over there.
7:40 "That principal and interest comes from our tax dollars"
NO it doesn't...
It comes from endogenous growth and the probability of debt rollover. After that, it comes from gov't spending, which (if directed appropriately) makes up for the savings-investment (S-I) the private sector partakes in, through addition to aggregate demand.
Get Bill Mitchell, Randall Wray or Warren Mosler on the show, please. You're missing a large chunk of bandwidth in the economic spectrum.
@heckler73 We'd like to have Randall Wray on actually. Will make note of your point. MMT is interesting, and it's what Edward Harrison talks about a lot.
@RTProducer Exactly... I am not sure why Harrison doesn't discuss it more (he seems to have a good grasp of its tenets). But if you do get Dr. Wray on, I believe it would be helpful if he had some charts prepared. If you are going to present the MMT opinion, the charts really drive the point home (relative to the other "schools of thought" your show presents).
There is no (great) harm in promoting heterodox empiricism more. And it might inspire future guests to come more prepared.
@heckler73 MMT all the way. it would be nice to trust a "free market" currency, but the reality is that 'we are as sick as our secrets." And boy ho boy, do we have a lot of black pool spending and money printing going on right now. The government will make fiat money transparent and if they try and hide it, we'll know we gotta overthrow that aforesaid government. Chartalism is the right direction, but you never hear about that because the theifs love to hide money in secret places.
@heckler73 Harrison wont discuss it because he is a free market proponent in the Austrian school. it is an odd combination because he appears to be asking for the government to control monetary supply which Von Mises would not agree with at all. Von Mises hated socialism, and he blamed corruption on the government, rather than the private sector. Whatever the case, I'm pretty sure its the private corporations (who cannot be sued in court) stealing our money, Harrison would disagree.
@bluesphere22 it can peg its money to gold and have a people's government print it. You can stop spending money on wars meant for profiteering and senseless destruction so that private corporate "government contractors" like Bechtel and Haliburton cannot charge $2000 for an out house for oil workers. I hope that answers your question.
@heckler73 This is what I am talking about. Randall Wray has a really good balanced approach in a moderate socialist method. We need a government intervention by and for the people to regulate and provide transparency in money printing backed by gold. And that's right, government spending is a MAJOR factor on "principal and interest", which demands regulation by the government, not this self-regulating privatization. Hyman Minsky was also a proponent of this system. not free markets.
@heckler73 Yes, he did. he is writing a book about him too. because socialism is such a demonized word, it is very rare to hear about MMT from another person on here. Minsky was a realistic man that had a very feasible monetary policy, but with all these people blaming the "government" as the problem, they forget all the private bankers and corporatists are the ones draining the treasury.
@ApocalypticAang Differentiate between Endogenous & Exogenous Debt. I like to consider the subject in terms of Electronic Circuits; some others consider it in terms of Thermodynamics.
If the debt is localized (i.e. contained within a Nation-State's boundaries) it can be sterilized (if not eliminated). It has no repercussions on the global economy.
And yes, endogenous debt needs to be repaid, in order to sustain growth. But if it is defaulted upon, then its effect is internal.
The differentiation is irrevelant in sterilization/localization:
E.g.(1) "local debt" like mortgages can still be financialized and traded internationally-- like the MBS and their derivatives which caused the 2008 financial collapse
E.g.(2) Contract/debt obligations like CDS in the trillions and caused a "contagion" effect even if they are between 2 local parties, if one party is a international investment/insurance firm.
Eg1 If the "local debt" is securitized and sold abroad, then it ceases to be endogenous, right? It becomes a foreign liability. So perhaps you are suggesting that manner of financial intermediation be banned?
Eg2 I agree, Nation-State Derivative products are dangerous and useless. But where does all that idle investment go? Perhaps back into the economies they originate from?
@heckler73 Heckler, he is arguing through a monetary lens of deregulation and trying demonize the linkage between commodities as the primary undercurrent of Endo and Exo options. He is missing the point entirely of what pegging money to GDP is about. There could be no "derivatives" and the type of debt he is suggesting in such a system. When you peg a commodity to fiat money, none of the crap would be allowed to happen. Useless scenarios.
15:11 I wonder why...haha
MrLivePositive8 1 day ago
Comment removed
fistfullproduction 1 week ago
This has been flagged as spam show
Jewish bankers are dumping their debts from their balance sheet on Greece.
Stevie68000 3 weeks ago
This has been flagged as spam show
Jewish bankers are dumping their debts from their balance sheet on Greece.
Stevie68000 3 weeks ago
RON PAUL 2012!!!
klarekerry 3 weeks ago
Lauren Lauren..aahh. Mike is 100percent correct. On another note why the shit does RT have those criminal-illuminati-hybrid-satanworshippers-childrappin-pedophiles-reptilian fucks on their commercial yeah u know birginzki and kissinger id challenge you toe to toe you cowards!!
MrDigitalwealth 3 weeks ago
This has been flagged as spam show
Jews control Europe : evidence
1. US Congress pass sanction on Iran. Promoted by pro - Israel groups in US.
2. Europe follow suit even though it destroys member countries like Greece, Italy, Portugal & Ireland which are already in economic hardships. Now as oil imports from Iran are banned, price of goods & services will go up. More hardships for the European people.
3. Jews control European politicians.
Stevie68000 1 month ago
This has been flagged as spam show
Venezuela have completed in bringing back all their gold from Europe.
Congrats & defeat Jewish bankers.
Stevie68000 1 month ago
This has been flagged as spam show
Death to the Jewish bankers !
Stevie68000 1 month ago
oh, thank you for you compassion for the ignorant and oppressed – the truth is that it was the goldsmiths who were responsible for storing gold and issuing receipts. we know how the system works. we shouldn't be depend on some crazy international commodity, which is gold and silver, to allow us to do what we wanna do with our 'local' economic system, we don't have to depend on manners, or opening new mines or whatever
fistfullproduction 1 month ago
@fistfullproduction - I'm a little confused by your comment. Yeah, at one time "the goldsmiths...were responsible for storing gold and issuing receipts", which system became one model for paper currency.
*BUT*...that whole thing didn't go out of whack until goldsmiths began to secretly issue fraudulent receipts for gold that wasn't there, and to spend those counterfeit receipts into the economy for personal gain.
Exactly what the gangster Fed owners are doing now, yes?
nameofthepen 1 week ago
@nameofthepen there is a distinct possibility that the US Treasury has little or no gold left. bars that look like gold are in Fort Knox, but the world do not know if they are gold covered tungsten bars or who they belong too. there could be hundreds of billions of dollars of bogus gold bars buried beyond bank walls in the planet. the only sovereign currency, constitutional money, is: real public infrastructures, good services and fortunate people.
fistfullproduction 1 week ago
@fistfullproduction - This is not answering my first question. Let's get that one answered before we move on, OK? You implied that *gold* was the problem.
I suggested it was not gold which was the problem, but instead was the criminal activity by those entrusted with guarding the gold, and with the fiduciary responsibility of truthfully issuing receipts for it.
So...yes, or no, on this point?
nameofthepen 1 week ago
Comment removed
fistfullproduction 1 week ago
This has been flagged as spam show
@nameofthepen Yes, indeed, but any gold standard requires fractional reserve banking – gold certificates, receipts – government is going to get involved – monopoly, coercion – A well-rationed fiat currency could serve the people far better. The fact that they do it poorly doesn't mean it doesn't need to be done right. Check history, you'd realize that gold has never served the "people" as 'their money' – gold has always been the metal for the Kings in need of more slaves and soldiers.
fistfullproduction 1 day ago
This just in from Alexander Hamilton: BUNK! How does one assess debt backing credit with no regard for investment to which this is applied? NEWS FLASH! It is possible to make something out of nothing and create new wealth dwarfing the cost. Granted, a huge deficit in this sort of investment bedevils us now. Yet to talk of "debt" outside the framework of its investment is blowing so much smoke. So, were financial collapse assured, its sole cause would be an investment deficit, perceived and real.
MrTGolden 1 month ago
@MrTGolden And you think our debt was used to create productive capacity? LOLOLOLOLOLOLOLOLOLOLOLOLOLOLOLOL
DigitalShaolin 1 month ago
This has been flagged as spam show
Jew & Newt Gingrich :
1. Newt's campaign financed by Sheldon Adelson, Jew.
2. Adelson said " The uniform that I wore in the military, unfortunately, was not an Israeli uniform. It was an American uniform ".
Reference :
3. MSNBC reporting by Michael Ishikoff.
4. Google - MSNBC Ishikoff Adelson.
Stevie68000 1 month ago
"They" will never allow gold to reach 5 to 15 thousand USD per ounce, that is why his eyes drifted to the right when he said that. If gold really were that amount, how many people do you think would be able to trade with you to get the real goods and services you needed? If gold really goes to that amount, it would only have the purchasing power that it has today anyway. -"tarotworldtour"
SunShine8308 1 month ago in playlist money news
@SunShine8308 "They" can't stop it from happening. The market will force gold to whatever the market price will be. Manipulation can only happen to a degree. It can't happen perpetually. And gold would have dramatically increased purchasing power compared to today if it increased that much while other prices remained relatively stable, which they would.
DigitalShaolin 1 month ago
Great show, L.!
hhhaaa68 1 month ago
This has been flagged as spam show
Jew & MF Global :
1. MF Global's 1.2 billions customer's money are with George Soros, a Jew
2. MF Global's brancruptcy is under sub-chapter 3 of chapter 7 of Bancruptcy Act.
3. Trail of money : MF Global -> Goldman Sachs -> George Soros
Stevie68000 1 month ago
Very good interview Lauren and Mike. Very good!
PastorDowell 1 month ago
Very good interview Lauren and Mike. Very good!
PastorDowell 1 month ago
Even if you have a "sound" currency, how does the money supply expand to accomodate natural/organic expansion? How about Population growth? Seems to me that the same problems inherent with a Fiat currency would still exist with gold or silver. What am I missing?
24Adrian24 1 month ago
@24Adrian24 You're missing the fact that scarcity makes something valuable. That is why gold has stood the test of time as real money. As far as money supply - you can denominate it any way you like - grams, centigrams, milligrams. Just as long as there's gold backing to the currency. So there is no real argument that "there's not enough gold in the world."
WreakingHavoc1 1 month ago
@WreakingHavoc1 Actually, I never questioned the true value of gold/silver. Just to restate my question, how does the money supply to accomodate for natural/organic growth whether that's from expansion of business or just to accomodate population growth!
24Adrian24 1 month ago
@24Adrian24 I answered that also - you just change the denomination of gold per dollar, or unit of currency. You could make it one millionth of a gram if needed. You just change the ratio. And I also think you need to review the characteristics of money versus currency. Fiat currency will NEVER hold value. Right now the dollar is holding value due to the petrodollar standard, so it is essentially backed by oil.
WreakingHavoc1 1 month ago
@24Adrian24 The purchasing power of a stable money supply simply increases as economic expansion occurs. This is what happened for the 100 years before the Federal Reserve existed. There was steady and gradual deflation which resulted in higher purchasing power of the monetary unit, and this happened under a gold standard. There was also HUGE economic growth during that period. So the argument that it's required to expand the money supply is false.
DigitalShaolin 1 month ago
@DigitalShaolin tnx for the reply. I'm actually talking about quantity of the money supply to accomodate the expansion of an economy due to population growth. If you have a HARD lid on money, how does it expand naturally with the increase of production?
24Adrian24 1 month ago
@24Adrian24 It doesn't have to expand. Population growth causes an increase in labor which puts downward pressure on wages. This happens in any monetary system. This isn't a problem though because increases in efficiency and productivity put downward pressure on prices in general. Prices fall faster than wages, so there is no loss in real wages for anyone. Increasing the money supply can prevent a nominal loss in wages, but not a real loss since that increase will also increase other prices.
DigitalShaolin 1 month ago
it's headed that we have a problem and people in power created it and they'll have a ''solution'' and they will try world bank --- IF NOT RESISTED OF COURSE
jogurtkulturaa 1 month ago
Why is gold money?
Why arn't dimonds money? or corn money? or anything else?
What makes gold or silver special?
wineberryred 1 month ago
Comment removed
sendyoshit 1 month ago
This has been flagged as spam show
@wineberryred
Some properties of Money:
Divisible - Make Change (cant do that with Diamonds)
Durable - (cant do that with corn)
Fungiable - dollar in my pocket will buy the same dollar in your pocket (can't do that with Diamonds or corn)
Store of Value - (Paper dollars dont do that)
Gold had all. The only limitation with gold and silver was the weight, that's why it progressed to paper money and was money up until 1971. Now you get nothing for your bank note (US Dollar)
sendyoshit 1 month ago
@wineberryred Diamonds are not divisible and corn does not stay fresh for years. Plus if you bought a car with corn, you'd have to bring a lot of corn!
Gold and Silver can be melted down(divisible), does not go bad like corn, neither do they rust like iron. They're both rare, and because it's a metal, the govt cannot create more of it, which is a godsend, because politicians like to spend spend spend.
TalonNL999 1 month ago 5
@TalonNL999 I guess gold mining companies are the real job creaters in our economy! I'll take your advice and invest all my money in stainless steel.
wineberryred 1 month ago
@wineberryred Excerpt Atlas Shrugged: Money is a tool of exchange, which can't exist unless there are goods produced and men able to produce them. Money is the material shape of the principle that men who wish to deal with one another must deal by trade and give value for value. Money is not the tool of the moochers, who claim your product by tears, or of the looters, who take it from you by force. Money is made possible only by the men who produce.
TalonNL999 1 month ago
@wineberryred I'd never and have never advised anyone to invest in stainless steel, but if that's what you want to do, then go ahead, you're free to do what you want to do with the currency in your posession!
TalonNL999 1 month ago
This has been flagged as spam show
Jewish bankers are commiting economic Holocaust against Europeans.
Stevie68000 1 month ago
3:15 'Seriously Protestors' Is this the same bitch that Alyona took the piss out of??
ColdWarWarriors 1 month ago
Finally convinced a family member to buy a whopping 1 ounce Silver Maple lol.
001MeTaBoLiC100 1 month ago
Mike Maloney is incredibly talented in explaining monetary history and at conveying the message to the public about the perfect economic storm that's coming. His book is an excellent read not only on gold and silver investing but on monetary history and wealth cycles. The predictions he made have been unfolding: First the threat of deflation followed by "helicopter drops" (TARP, QE1, QE2), followed by big inflation, followed by real (monetary) deflation, and finally hyperinflation. Great info!
YoshioGraham 1 month ago
Haha. Never take financial advice from MC Hammer.
tcorourke2007 1 month ago
Mikey, so what will be the next wealth wave as you put it?
yaahme 1 month ago
Mike Maloney is awesome! Always has great info! Great episode!
Lauren Lyster > Erin Burnett
Great job Lauren keep doing what you do!
xAVRx 1 month ago 3
Maloney is a boss, and you should listen.
dispersingweight 1 month ago 16
@dispersingweight You're god damn right he's a boss. Respect his authority!
DuncanL7979 1 month ago
@dispersingweight
Yeah! and I want a golden tie ust like his...
johrel95 2 weeks ago
mike maloney is awesome but always makes me laugh when he sais hes not a gold bug while always wearing a gold tie
charliehelyes 1 month ago
"In time of actual war, great discretionary powers are constantly given to the Executive Magistrate. Constant apprehension of War, has the same tendency to render the head too large for the body. ..James Madison ,former President of the United States of America
kooodeal 1 month ago
A standing military force, with an overgrown Executive will not long be safe companions to liberty. The means of defence agst. foreign danger, have been always the instruments of tyranny at home. Among the Romans it was a standing maxim to excite a war, whenever a revolt was apprehended. Throughout all Europe, the armies kept up under the pretext of defending, have enslaved the people"...James Madison ,former President of the United States of America
kooodeal 1 month ago
Gold and Silver are Money(.)
Historically they always have been.
Why do Central Banks hold Gold?
hmmm...
ThisIsRogueLiberty 1 month ago
It's supposed to be Mike Mologna.
Geez, am I the only one who can spell?
TorontoLibertarian 1 month ago
This has been flagged as spam show
To Europeans,
Once the Euro break up, the Jewish bankers will be on the run. Hunt them & don't let them run away. Arrest the Jews around you.
Stevie68000 1 month ago
The sad thing is that the average person in the united states could care less about monetary system and global economics. The people that truly understand the fundamentals, see where this currency system is headed. Ron Paul is rare and is 1 in many that understand the future looks doomed if we continue this Keynesian path.
stropssports 1 month ago 16
@stropssports Absolutely true, I tell my family over and over again. They do not care, so now I will take action and I wish they would too.
MrLivePositive8 1 day ago
think of Mike what you want, the last years have proven him RIGHT
Wittmann73 1 month ago
Usual guest lineup of doomsdayers and gold bulls.
lanastus123 1 month ago
@lanastus123 And the problem with that is?
thiscreepingmalaise 1 month ago
This has been flagged as spam show
Israel & kill Obama :
1. Source : Huffington Post - 1/20/2012
2. Author : Leigh Owens
3. Title : " Andrew Adler, Atlanta Jewish Times Publisher, Apologizes For Obama Assassination Comments "
4. For not supporting Israel, Andrew Adler ( Jew ), said Israel should kill President Obama.
Stevie68000 1 month ago
@CapitalAccount i wish u gave mike more time Lauren ...
YouTheory 1 month ago
wow, this host is not just hot, but she's got a brain too!! She's not owned by AIIPAC.
phillisthebarbarian 1 month ago 2
Another outstanding guest with a solid perspective. Keep up the great work, Capital Account.
1998awest 1 month ago
I wish someone could clone Lauren, shes just perfect
ivangrozny27 1 month ago 2
Any chance of getting Kyle Bass on this show?
CountryCanadaBoy 1 month ago
"It's better to be way too early and not a second too late"
If he really believes that then he isn't a very good gold trader! In trading it is always better to buy a second too late, or put another way, to buy after the trend has been established.
notcher19 1 month ago
@notcher19 Mike Maloney isn't a gold trader, he is a value investor
adshoiu8d 1 month ago
@adshoiu8d He might be a value investor but rational value investors seek to maximize profit. Profit maximization - whether a trader or an investor - is dependant on the timing of the trade/investment. Entering a position just after the trend has started is the point at which profits are maximized whether a trader or investor.
notcher19 1 month ago
nice girl
Easycamper65 1 month ago
This guy is right on the money.
lgarvey1979 1 month ago
This has been flagged as spam show
Israel & kill Obama :
1. Source : Huffington Post - 1/20/2012
2. Author : Leigh Owens
3. Title : " Andrew Adler, Atlanta Jewish Times Publisher, Apologizes For Obama Assassination Comments "
4. For not supporting Israel, Andrew Adler ( Jew ), said Israel should kill President Obama.
Stevie68000 1 month ago
Maloney is wrong in this notion that more debt-based money is necessary to pay the interest on the existing debt-based money. Robert Murphy has an excellent article debunking this myth on mises dot org that a fixed supply of money cannot pay back interest on loans.
That isn't the real reason why the national debt is soaring. It's growing because the US lacks the productivity to pay down the debt and resorts to printing.
whitechocolatespace 1 month ago
I wish I was a diamond ring upon Lauren Listers hand
so everytime she wiped her ass I'd be in the promised land
kno1self 1 month ago
@kno1self Dude, really: I'd tell you to get a life but that may be even more dangerous than your current situation.
MarcusCMarcellus 1 month ago 2
@louis12346 .... Her videos would go viral if she would have a gun on set
6298mike 1 month ago
half truths = total lies
Maloney is a fraud
waldentree 1 month ago
@waldentree i thought that too at first, but after doing more research about inflation and how over leveraged the paper market is realized i was just half aware of the facts.
theeonionbagel 1 month ago
@waldentree trolls be trollin´
badstacksize 1 month ago
@waldentree well if you followed this 'frauds' advice for the past ten years you would have made a shit load of money
lol you trolls are pathetic, I would really hate to be you, you are literally fucked
TheLusseyran 1 month ago
Beautiful hostess are not as dumb as one might think!! Plus she must be only 26 - 27! Congrats Lauren! Keep on doing great itw!
zstar08 1 month ago
the guests on this show are great. the best and most knowledgeable in their fields. if u want to watch moron economists go to fox or cnn. good for loughs though.
quadcatfly 1 month ago
Any1 who listens to a guy touting gold @ $20,000 p/oz (who coincidentally professionally sells that commodity) deserves to get financially taken out.
kcirdrab 1 month ago
@kcirdrab people probably would have said the same thing about gold bulls who said $1600 gold 10 years ago... lets attack his ideas, not his motives...
bluesphere22 1 month ago
@bluesphere22 well put point, but I stand by the post
kcirdrab 1 month ago
@kcirdrab hmm, Maloney was coincidentally selling the commodity he promotes ten years ago, those who followed his advice like me have won big time.....and will continue to win. History proves your logic sucks, and proves you wrong
TheLusseyran 1 month ago
@TheLusseyran So far big boy, so far, history hasn't stopped, we'll see,
& He's been doing it for 6 years not 10, he started selling in late 2005, which was well ino the rise of the hugh gold bubble
kcirdrab 1 month ago
@kcirdrab if you bought gold and silver in 2005 like Mike advised, you would have done very well....FACT
According to your reasoning, it was better to ignor Maloneys advice back in 2005 as he is a salesman. That would have been a big mistake back then. It will be a big mistake now. I buy gold based on rock solid fundamentals, and separating intuition from fear and greed. You are on the level of fear and greed, and you can never gain substantially from that basis
TheLusseyran 1 month ago
@TheLusseyran Ignoring the imature attempts @ personal insults ... r u seriously telling me u don't think gold @ $20K p/oz is a wild call??
kcirdrab 1 month ago
@kcirdrab I didn't mean to insult you, that wasn't my intention. I was just saying be careful getting into this investment as the risk is getting shaken out during the selloffs. Malloney never really made the 20K 'call' as a prediction, he was merely saying there is a good case for it. He never said it was a certainty, but a good possibility. To answer your question, no I don't think its a wild call, I would say these prices are logicall. I think this bull market will be epic
TheLusseyran 2 weeks ago
Comment removed
kcirdrab 1 month ago
Comment removed
kcirdrab 1 month ago
CA should show market prices, not just variations. In € also :) Maybe even some kind of bar chart showing relative values between gold, silver, $, €, oil, that'd be educational and informative.
dromeiro 1 month ago
This has been flagged as spam show
Jew & Obama's assasination :
1. Andrew Adler is the owner of Atlanta Jewish Times.
2. He proposed that the Israel's government should consider killing President Obama for not protecting Israel. The proposal was made in the Atlanta Jewish Times newspaper.
3. This is treason but he had apologized
4. He's a Jew
Refer :
Huffington Post dated January 21, 2012.
Titled : " Andrew Adler, 'Atlanta Jewish Times' Publisher, Apologizes For Obama Assassination Comments".
Stevie68000 1 month ago
Teacher Lauren is the best ,gold bug, & Ron Paul supporter , she probably owns a glock too
louis12346 1 month ago 2
Has Mike Maloney given his opinion on the PAGE yet? I"d be interested on his take
troybr79 1 month ago
@troybr79 it would be nice for Mike to give his opinion, unfortunately there are a few babies on this thread who start casting insults and create arguments that require greater detail to carry merit (like citing a law case without explain any details or claiming to look up the NPV of Japan's outstanding debt to foreigners)... So even if Mike were reading this thread, he would be wise to stay away... Why go on the Jerry Springer show for no reason?
bluesphere22 1 month ago
@bluesphere22 a less well expressed point, just because we don't sit @ the feet of yr idol gazing up @ how wonderful he is unquestioningly doesn't mean we're "babies"
If u can't see the legitimate conflict of interest there is in Maloney's position then yr wearing rose-tinted specs. Gold @ $20,000 is a wild call & deserves to be questioned.
kcirdrab 1 month ago
I think Burnett is crazy for going to CNN.
1977Melville 1 month ago
god bless you Lauren! You're the ONLY TV HOST who actually knows what she's talking about, not to mention, an awesome roster of truly informed guests actually worth 30min out of anyone's day.
Thanks.
RosenKrantz666 1 month ago 28
Watch Mike Maloney’s video “Debt Collapse - $20,000 Gold“, he explains everything in full detail with graphics and charts, his video its a must view
/watch?v=tj2s6vzErqY
socustrocus 1 month ago 25
@socustrocus I just watched his vid; it doesn't say much... It appears to be mostly an advertisement to buy gold. Yet, his logic of Monetary operations is flawed (which goes back to my original comment from earlier). Coupled with his ignorance (wilfull or otherwise) of gold's history leads me to discount his opinion. He's just another hawker.
heckler73 1 month ago
hey many people already have serf mentality
capucchan8 1 month ago
@RTProducer Did you understand what I meant from my response?
jc2004x 1 month ago
@jc2004x someone keeps flagging your comments. I don't know which one you are talking about. On a side note, i have noticed that people get flagged a lot on this page for comments that clearly should not be flagged. I'm not sure why this happens, but you should email youtube and complain if you are getting flagged for no good reason. that's absurd.
RTProducer 1 month ago
@RTProducer if you are talking about the removed comment... I removed it because I worded it wrong.. I re-worded and re-posted shortly after
jc2004x 1 month ago
More insider information/look/perspective please Lauren!!!
concubinage 1 month ago
WILL THIS WOMEN STAY QUIET SO MIKE CAN FINISH SPEAKING??
RosalesRick 1 month ago 2
Real good show....and agree that your interview was excellent...
dufas47 1 month ago
This has been flagged as spam show
@NathanHaleLives if you peg a currency to something specific like gold, what happens is, people start to hoard the medium that the currency is pegged to
jc2004x 1 month ago
Comment removed
jc2004x 1 month ago
This has been flagged as spam show
@jc2004x "if you peg a currency to something specific like gold, what happens is, people start to hoard the medium that the currency is pegged to"
People would only prefer to do that (hold unweldy metals) if the currency is unsound (easily devalued/ counterfeited/ etc)-- that why a peg "enforces" sound money policies.
Even the US dollar peg which China and other Asian countries maintains forces them to have sound currencies-- well, except when the US dollar is being devalued like crazy...
ApocalypticAang 1 month ago
@jc2004x You have to think in terms of the value of the dollar under those cirumstances my friend lol. You will want to SELL your gold if that was the scenario because the dollar would be a much more stable currency and you would get greater purchasing power. Why is the dollar a stinking piece of garbage right now? Nothing is backing it, just reverse the process and your gold will get you mad dollars that can buy more things.
NathanHaleLives 1 month ago
Thank you Lauren and your guest Mr. Maloney. Enjoyed his explaining and expounding on our fubar, fiat based economy. A very sharp gent, along with a very brilliant and beautiful hostess.
007HubbaBubba 1 month ago 2
@RTproducer Yes I mean growth limited to GDP give or take 2% or so.. and when I say foreign debt secured by exports I mean goods or commodites (oil, lumber, gold, silver, aluminium, steel, etc...)could be used as payment to the creditor country.
jc2004x 1 month ago
@jc2004x ah, ok I see what you are saying. Let me leave the commodity backing aside as a means of balancing payments and just focus on the GDP question. I would say no, because no one know what GDP is first of all so you can't accurately gage what the increase in money should be, second of all, it doesn't eliminate the problem of concentrating power in small hands, and three, does that also mean that when GDP contracts we contract money? probably not..
RTProducer 1 month ago
@RTProducer Could it be either based on a previous year growth or a 5 year trend? I guess that's more what I am getting at... 2013's fiat currency printing could be based off 2008-2012's economy.
jc2004x 1 month ago
@heckler73 a country can pay off foreign debts with exports that are wanted by the creditor
jc2004x 1 month ago
This has been flagged as spam show
@jc2004x that is correct. LOL
heckler73 1 month ago
@RTProducer Has anyone ever asked any of the economist type people like bill black or mike maloney what a economy would look like with a fiat-based currency with money creation limited by GDP (domestic use) and a countries foreign debts secured by exports. for example if Canada owes China 3 billion, (knowing that china likes canada's lumber) canada could ship 1.5 billion worth of lumber as payment towards the debt... thanx
jc2004x 1 month ago
@jc2004x what do you mean limited by GDP. You mean limited to growth, so that it grows in line with the economy? and what do you mean when you say foreign debt "secured by exports"? If they could export the lumber then they wouldn't need to borrow the money. Not sure how this would work.
RTProducer 1 month ago
@RTProducer Demetri, he is trying to use organic commodities (lumber, sugar, etc.) as something to peg to the dollar. We talk of gold and silver, but he is trying to limit the manipulation of dollar value by measuring in lreation exports and imports. generally speaking.
NathanHaleLives 1 month ago
@NathanHaleLives I think that can only work for non-perishable commodities that can serve as money, like oil for example. Nothing wrong with commodity based money, i just think that individuals should choose what they want to use as money, and that there shouldn't be collusion to push out private sector alternatives.
RTProducer 1 month ago
@RTProducer Hey Demetri, would be cool if at some point you could do a segment on the show about "must read" books on money and central banking...
bluesphere22 1 month ago
@bluesphere22 Go read Mishkin's textbook, "MONEY & BANKING", or MODERN BANKING by Shelagh Heffernan.
LOL
Seriously... there are textbooks on this subject... and they aren't a mystery.
heckler73 1 month ago
@heckler73 I'm trying to learn about this stuff... To be honest, hadn't heard of MMT till I read this thread.... Where do you find Japan's NPV of their debt?
bluesphere22 1 month ago
@bluesphere22 HAhahahah As far as I know, no one has quantified stats on Japan's NPV. That's a pretty large subject to calculate. Perhaps Richard Koo knows more about that subject?
heckler73 1 month ago
@heckler73 Good books to read. :)
NathanHaleLives 1 month ago
@RTProducer Oh, it wasnt MY idea, it was his. I think its a very fine line between what is privatized and what is not. When we argue for a private free enterprise system, it seems certain items are being cherry picked. Ron Paul, for instance, wants to have fiat money transparency by pegging it to gold. I think Minsky answers this question with MMT. In today's world, no one is regulating the private sector and if we want to stop THEM, we must also regulate ourselves. agreed?
NathanHaleLives 1 month ago
@NathanHaleLives I think it's far more complex than the way it is presented in the media (i include our own show in that), but it's very hard to deal with the details because most people will gloss over, and its hard to have that conversation on TV. I think the problem is anything the is anti-competitive and promotes cartel and oligarchy. We had robber barons and private cartels when gov was smaller, so shrinking gov in and of itself is not the solution. Don't know how I feel about MMT though
RTProducer 1 month ago
@RTProducer Agreed, it is VERY complicated. I think if we deal with the money issue though, there would be MUCH less corruption as a root cause of the problems we face. I think the Fed is one example of taking privatization too far. I think a great start would be to have Randall Wray on. Ron Paul says it himself via the Constitution, that gold and silver is a government tender in payments of debt. FDR used socialism in the New Deal. Monetary state regulation is desperately needed.
NathanHaleLives 1 month ago
@RTProducer MMT is what Ron Paul is actually advocating...didn't get to finish that last sentence in the previous commment. If we can regulate money through the force of people's will, we can find a more level and competitive playing field as a counter balance to certain types of core government regulation.
NathanHaleLives 1 month ago
@RTProducer You are not alone in contemplating the merits of MMT. It took me nearly a year to accept its validity (but still with minor questions). Keep in mind, it is mostly a Positive Economic response. It is not Normative. It describes the basic mechanics of a "functional" Economy from a Monetary/Fiscal policy union. But it doesn't account for any socio-economic outliers that may arise. That requires an Ethical Policy, which is more indeterminate. But I could be mistaken.
heckler73 1 month ago
@heckler73 I would agree on the ethical and moral aspects of MMT. Not everyone can be a millionaire so we have to accept the reality that there will be people without money. If private enterprise wield ALL the power (the Fed, Goldman Sachs) then we get this...this nightmare. The government has to be a vehicle in which the people can ALSO voice their power to create stable and thriving economies. MMT is one way in which itis resolved.it's FDR's New Deal gold pegged money minus the FED.
NathanHaleLives 1 month ago
@NathanHaleLives I'm sorry, but I don't see how MMT is gold-standard minus the FED. Can you expand on that, please? Commodity Standards imply a cap on money creation that is extraneous to actual "demand" for liquidity. That only creates boundaries which are more antagonistic to "natural growth". This implies a "products chasing money" paradigm which can only "grow" into deflationary spirals. Money is energy... More people = more money.
heckler73 1 month ago
@jc2004x You are trying to base the money supply on commodities, which isn't a bad idea, but you still have the privatization aspect making it difficult to gauge exports and import variables. Why not just peg the dollar to gold and have the government print it up. It's the best hope we have right now.
NathanHaleLives 1 month ago
@jc2004x If China wants $1.5Bn of lumber, and it has $CDN1.5Bn in Foreign Reserves (or an equal amount of reserve RMB to sell on the "open-market") then it is a zero sum game, no?
heckler73 1 month ago
@jc2004x Bill Black might know, but he is more knowledgeable in what we need more of...state regulation for and by the people. I doubt Maloney would know. Mike Maloney has a specialty in Austrian styled economics (Von Mises, Hyak, etc), He is not a comprehensive expert on economic systems nor does he understand the deeper ramifications of free markets. Black might know because he has worked in government and he understands the realities of economic and fiscal policy related to GDP
NathanHaleLives 1 month ago
@NathanHaleLives Hasn't Black been on already? And he uses a shitty Skype connection that causes his syllllllllllllllllllllables to get stretched out to annoying proportions. I demand he be given better internet!!!
heckler73 1 month ago
@heckler73 yeah he has. lol And I agree, he needs to "get hip" on that Skype action yo!!!!! I am going to add you, you have your head on straight over there.
NathanHaleLives 1 month ago
Dam, that's a provocative title.
thecrooksareinoffice 1 month ago
Ladies and gentlemen it's Lauren Lysterrrrrrrrrrrrr!!!!
Ivestor1 1 month ago
7:40 "That principal and interest comes from our tax dollars"
NO it doesn't...
It comes from endogenous growth and the probability of debt rollover. After that, it comes from gov't spending, which (if directed appropriately) makes up for the savings-investment (S-I) the private sector partakes in, through addition to aggregate demand.
Get Bill Mitchell, Randall Wray or Warren Mosler on the show, please. You're missing a large chunk of bandwidth in the economic spectrum.
heckler73 1 month ago
@heckler73 We'd like to have Randall Wray on actually. Will make note of your point. MMT is interesting, and it's what Edward Harrison talks about a lot.
RTProducer 1 month ago
@RTProducer Exactly... I am not sure why Harrison doesn't discuss it more (he seems to have a good grasp of its tenets). But if you do get Dr. Wray on, I believe it would be helpful if he had some charts prepared. If you are going to present the MMT opinion, the charts really drive the point home (relative to the other "schools of thought" your show presents).
There is no (great) harm in promoting heterodox empiricism more. And it might inspire future guests to come more prepared.
heckler73 1 month ago
@heckler73 MMT all the way. it would be nice to trust a "free market" currency, but the reality is that 'we are as sick as our secrets." And boy ho boy, do we have a lot of black pool spending and money printing going on right now. The government will make fiat money transparent and if they try and hide it, we'll know we gotta overthrow that aforesaid government. Chartalism is the right direction, but you never hear about that because the theifs love to hide money in secret places.
NathanHaleLives 1 month ago
@heckler73 Harrison wont discuss it because he is a free market proponent in the Austrian school. it is an odd combination because he appears to be asking for the government to control monetary supply which Von Mises would not agree with at all. Von Mises hated socialism, and he blamed corruption on the government, rather than the private sector. Whatever the case, I'm pretty sure its the private corporations (who cannot be sued in court) stealing our money, Harrison would disagree.
NathanHaleLives 1 month ago
@heckler73 How can a country pay off debt without tax revenues?
bluesphere22 1 month ago
@bluesphere22 Why does the debt need to be paid off? Assuming your debt is denominated in the currency YOU have control over.
heckler73 1 month ago
@heckler73 because eventually you can be smothered by interest payments.. no?
bluesphere22 1 month ago
@bluesphere22 that is incorrect.
heckler73 1 month ago
@heckler73 so Japan will never be smothered by interest payments?
bluesphere22 1 month ago
@bluesphere22 What is the NPV of their debt to foreign nations?
heckler73 1 month ago
@bluesphere22 it can peg its money to gold and have a people's government print it. You can stop spending money on wars meant for profiteering and senseless destruction so that private corporate "government contractors" like Bechtel and Haliburton cannot charge $2000 for an out house for oil workers. I hope that answers your question.
NathanHaleLives 1 month ago
@heckler73 This is what I am talking about. Randall Wray has a really good balanced approach in a moderate socialist method. We need a government intervention by and for the people to regulate and provide transparency in money printing backed by gold. And that's right, government spending is a MAJOR factor on "principal and interest", which demands regulation by the government, not this self-regulating privatization. Hyman Minsky was also a proponent of this system. not free markets.
NathanHaleLives 1 month ago
@NathanHaleLives Didn't Dr. Wray study under Minsky?
heckler73 1 month ago
@heckler73 Yes, he did. he is writing a book about him too. because socialism is such a demonized word, it is very rare to hear about MMT from another person on here. Minsky was a realistic man that had a very feasible monetary policy, but with all these people blaming the "government" as the problem, they forget all the private bankers and corporatists are the ones draining the treasury.
NathanHaleLives 1 month ago
@heckler73 :7:40 " 'That principal and interest comes from our tax dollars'
NO it doesn't...
It comes from endogenous growth and the probability of debt rollover."
And the debt (resulting in deficits on govt accounts) can only be repaid (if not written down) with tax dollars (revenues to the govt accounts).
"Endogenous growth of money" comes from increasing debt (aka "credit money") which must be repaid (if not written down), not from "base money supply"
ApocalypticAang 1 month ago
@ApocalypticAang Differentiate between Endogenous & Exogenous Debt. I like to consider the subject in terms of Electronic Circuits; some others consider it in terms of Thermodynamics.
If the debt is localized (i.e. contained within a Nation-State's boundaries) it can be sterilized (if not eliminated). It has no repercussions on the global economy.
And yes, endogenous debt needs to be repaid, in order to sustain growth. But if it is defaulted upon, then its effect is internal.
heckler73 1 month ago
@heckler73 "Differentiate between Endogenous & Exogenous Debt."
The differentiation is irrevelant in sterilization/localization:
E.g.(1) "local debt" like mortgages can still be financialized and traded internationally-- like the MBS and their derivatives which caused the 2008 financial collapse
E.g.(2) Contract/debt obligations like CDS in the trillions and caused a "contagion" effect even if they are between 2 local parties, if one party is a international investment/insurance firm.
ApocalypticAang 1 month ago
@ApocalypticAang
Eg1 If the "local debt" is securitized and sold abroad, then it ceases to be endogenous, right? It becomes a foreign liability. So perhaps you are suggesting that manner of financial intermediation be banned?
Eg2 I agree, Nation-State Derivative products are dangerous and useless. But where does all that idle investment go? Perhaps back into the economies they originate from?
heckler73 1 month ago
Comment removed
NathanHaleLives 1 month ago
This has been flagged as spam show
@heckler73 Heckler, he is arguing through a monetary lens of deregulation and trying demonize the linkage between commodities as the primary undercurrent of Endo and Exo options. He is missing the point entirely of what pegging money to GDP is about. There could be no "derivatives" and the type of debt he is suggesting in such a system. When you peg a commodity to fiat money, none of the crap would be allowed to happen. Useless scenarios.
NathanHaleLives 1 month ago
Comment removed
Ivestor1 1 month ago