I would like to continue this conversation, but feel the presentation here has gone awry. I didn't realize all the comments you had left earlier. My fault..
My suggestion - why not video this?
You said below you have a video for me and I went to your Utube channel and could not find any.
I think a conversation around public money and whatever you believe is really worthwhile having.
I will make a vid later that responds to what I think you're saying.
Thank you for sharing your interview with Dr. Yamaguchi. I downloaded his model and went to save it and discovered I already had it on my hard drive but hadn't read it yet. I guess I had better do so. The document is real, good economic science by a peson whose academic credentials should make insiders pay attention.
There was a Revolution here a couple of hundred years ago, preceded very briefly, but ironically, by a Boston Tea Party.
That Tea Party, by true American Patriots , was to revolt against the British for the Act of their Parliament that stole by a pen from the American Colonies their rights of self-government and free commerce by forbidding them from using their own money systems.
Only the Congress shall have the power to create the nation's money.
@joebhed I've a video response for you re. the current one on your channel. I can help you better understand money, credit, banking and central banking. Like many, you've conflated money and credit and hence you say, mistakenly, "money supply" when you should say credit SUPPLIED.
For where you find supply, you must find demand, the intersection of which is what gets sold, actually.
Under the fiduciary system, there's only money (Fed Res bank notes and token U.S. coins) and credit.
@joebhed And another point, Joe. Your belief that "Only the Congress shall have the power to create the nation's money." is a false one.
Article 1 Section 8 Clause 5 decrees that the Congress shall have power "To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures."
You ought to quit.
This decree DOES NOT GRANT to Congress EXCLUSIVE dominion over coining, only that U.S. coins can be made, which cannot get counterfeited (see clause 6).
@joebhed Also, Joe. If you knew about American history, you would know that in the Colonial era past the signing of the U.S. Constitution, that many Americans traded with the Spanish reales as their money.
Joe, you should ditch dabbling with jokers like the American Monetary Institute and purge yourself of the many false beliefs that you attempt to defend about money, credit, banking and central banking.
Next, you should take up learning about money for real.
Please explain the significance of the Colonies' use of Spanish coins to this discussion.
Actually, friends at AMI are always telling me I should quit wasting time discussing money with Austrians, Libertarians, Neo-Chartalists, the IMF and BIS.
But I have nothing else to do.
Assuming you have read Zarlenga's The Lost Science of Money book and his Refutation of Menger paper, please point out the 'many false beliefs' contained therein.
@joebhed You have nothing else to do? You should disabuse yourself of many false beliefs and not merely money. Come to see the truth and truth will set you free.
You can start by going through the many free books on Google Books. Read works published between 1870 and 1920, before the full effects of statism corrupted academia. You can find many books on the topics of inflation, credit, money, economy, crises, panics; socialism, poverty, progress, intervention, eugenics, sociology, ethics.
@joebhed Why would I care to read some contemporary quackademic's work? Why would I torture myself by being exposed to the false beliefs of some egghead?
I've discovered the lost Science of Money awhile ago. You can too. Google Books has 100s of books on money and credit written during the times of great debates over money, credit and inflation.
@joebhed What Yamaguchi proposes and what you want as well IS Socialism. Socialism means living by a council of bureaucrats who decide who gets what and often who does what.
Capitalism means living by any economic quanity (capital) employed in production in hopes of gaining profit.
What Americans have is Oligopolistic Collectivism that overarches capitalism.
@joebhed Another way that Fed Res bankers try to inflate (grow revolving and non-revolving credit) is by reducing the RRR (reserve requirement ratio).
Dummies say "price inflation" when they mean price rises.
Real price inflation is a method by which Politicians use fiscal policy (extraordinary debt issuance for outrageous deficit spending) to increase cash balances of individuals who then bid up prices of non-credit goods.
@joebhed As always, when the accretion rate outstrips the output rate, the unit buying power drops and hence, prices rise.
I'd venture a bet that between 97 and 99% of all humans DO NOT GET money, credit, banking and central banking. They have numerous false beliefs, often illogically contradicting ones, swirling in their heads.
Alas, from your expressed beliefs, you're confused about the subject. Yet, it's commendable that you have a desire to know it.
I have a website where your comments can be as long as you like to continue my education and I want to learn something new every day, so please, jump right in.
@joebhed I am not an "Austrian". Those of the Austrian School of Neoclassical Economics get wrong money, credit, banking and central banking.
Their belief of the "double simultaneous ownership of money deposited in banks" is a fundamental flaw and reveals that they lack knowing how commerce works and economics works.
Neoclassical Econ is nothing more than the Fallacies of Ricardo amplified by the Fallacies of Mills and then dressed up with a pseudo-psychological theory of satisfaction.
@joebhed One of the biggest false beliefs held by "bankster" conspiracy types and "debt free" money types, such as yourself, is that bankers lend money that others own. That belief 100% false.
A banker is a trader who buys money and debt by selling bank credit. Under Commercial Law, a banker OWNS the money he buys from a depositor. The depositor sells his money, called a muutum, aka, a deposit, and buys a RIGHT of ACTION against a banker.
@joebhed A banker is no different than a Retailer. A Retailer is a trader who buys goods from a Wholesaler by SELLING CREDIT to the wholesaler. Said another way, the Wholesaler SELLS his goods to the Retailer and BUYS a RIGHT OF ACTION against the Retailer.
Under Commercial Law, the Retailer becomes the owner of the goods. The Wholesaler loses TITLE in the goods.
This is the same in Commercial Banking. The depositor loses TITLE to deposit money and gains a RIGHT of Action.
@joebhed The short of the long of it is that between 97% to 99% should stop opining about all things economics, money, credit, banking and central banking.
Their beliefs are false, thoroughly. They only confuse themselves and whip themselves into frenzies over enemies who do not exist. They live by phantoms in their minds.
Most Ph.D. economists don't get economics, money, credit, banking and central banking.
Most businessmen, most dissidents, most everyone do not get all that as well.
Joe, I'd really like to see this posted at overthepeak[dot]com. You can post this and place a link to Yamaguchi's paper within the post as well... I think that would be fine with Nick.
To Truth-axer
I would like to continue this conversation, but feel the presentation here has gone awry. I didn't realize all the comments you had left earlier. My fault..
My suggestion - why not video this?
You said below you have a video for me and I went to your Utube channel and could not find any.
I think a conversation around public money and whatever you believe is really worthwhile having.
I will make a vid later that responds to what I think you're saying.
Please do the same.
joebhed 1 year ago
TruthAxe you are a looney. Go hug capitalism. You must be american. In bed with the dollar dictatorship.
sanctiX 1 year ago
You amuse, @sanctiX.
Your response is typical of someone suffering cognitive dissonance and mind disorder.
TruthAxe 1 year ago
Yamaguchi speaks academic claptrap.
Yamaguchi is more dangerous than Fed Res bankers. He proposes to turn money over to government bureaucrats.
We see how successful that is right now in Zimbabwe and how successful do that was in the former Soviet Union as well as Weimar Germany.
TruthAxe 1 year ago
@TruthAxe
Very intelligent observation.
Thanks for stopping by.
joebhed 1 year ago
Thank you for sharing your interview with Dr. Yamaguchi. I downloaded his model and went to save it and discovered I already had it on my hard drive but hadn't read it yet. I guess I had better do so. The document is real, good economic science by a peson whose academic credentials should make insiders pay attention.
zthustra 1 year ago
@zthustra
Thanks for the note.
Do you actually have his model?
He first presented this run (debt-free money modeling the AMA) of the model back in July.
If you downloaded his paper that I linked to, read it carefully, it is extremely educational.
If you check Steve Keen's website, he has a link to Yamaguchi 's presentation of his model at the conference. (geeky)
I haven't yet seen the video of the panel with Keen, Hudson and Yamaguchi - that may be a while.
A true monetary pioneer - Kaoru.
joebhed 1 year ago
@joebhed The world has used debt free money many times throughout history. The greatest forms of debt-free money have been gold and silver.
Yamaguchi is a statist. He wants socialist bureaucratic control over money instead of power elite control over money.
The ultimate result of Yamaguchi's scheme is communistic / socialistic dictatorship.
TruthAxe 1 year ago
@TruthAxe
There was a Revolution here a couple of hundred years ago, preceded very briefly, but ironically, by a Boston Tea Party.
That Tea Party, by true American Patriots , was to revolt against the British for the Act of their Parliament that stole by a pen from the American Colonies their rights of self-government and free commerce by forbidding them from using their own money systems.
Only the Congress shall have the power to create the nation's money.
Sorry for their statism.
joebhed 1 year ago
@joebhed I've a video response for you re. the current one on your channel. I can help you better understand money, credit, banking and central banking. Like many, you've conflated money and credit and hence you say, mistakenly, "money supply" when you should say credit SUPPLIED.
For where you find supply, you must find demand, the intersection of which is what gets sold, actually.
Under the fiduciary system, there's only money (Fed Res bank notes and token U.S. coins) and credit.
TruthAxe 1 year ago
@TruthAxe
Please post your video reply here.
Thanks.
joebhed 1 year ago
@joebhed Mistakenly, you believe, the FFR is the "mechanism we have to increase the money supply."
Inflation is the mechanism and the goal is to increase the number of open contracts of the product that member banks of the FRS sell -- credit.
Interbank lending rate deltas is one way that Fed Res bankers try into inflate (increase revolving credit and non-revolving credit).
Wrongly, you claim that Fed Res bankers don't want either inflation or deflation.
Thus shows you don't get it.
TruthAxe 1 year ago
@joebhed And another point, Joe. Your belief that "Only the Congress shall have the power to create the nation's money." is a false one.
Article 1 Section 8 Clause 5 decrees that the Congress shall have power "To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures."
You ought to quit.
This decree DOES NOT GRANT to Congress EXCLUSIVE dominion over coining, only that U.S. coins can be made, which cannot get counterfeited (see clause 6).
TruthAxe 1 year ago
@TruthAxe
Gawd, you can't be serious.
You correctly "capitalized", grammatically-speaking, the Article.
Then you pretend that the transitive verb "to coin" only applies to the noun "Coin".
PUHLEEZ, leave that one at home.
Please Google Harvard Constitutional scholar Robert G. Natelson's definitive paper:
PAPER MONEY AND THE ORIGINAL
UNDERSTANDING OF THE COINAGE CLAUSE
Let's discuss his conclusions.
joebhed 1 year ago
@joebhed Also, Joe. If you knew about American history, you would know that in the Colonial era past the signing of the U.S. Constitution, that many Americans traded with the Spanish reales as their money.
Joe, you should ditch dabbling with jokers like the American Monetary Institute and purge yourself of the many false beliefs that you attempt to defend about money, credit, banking and central banking.
Next, you should take up learning about money for real.
TruthAxe 1 year ago
@TruthAxe
Please explain the significance of the Colonies' use of Spanish coins to this discussion.
Actually, friends at AMI are always telling me I should quit wasting time discussing money with Austrians, Libertarians, Neo-Chartalists, the IMF and BIS.
But I have nothing else to do.
Assuming you have read Zarlenga's The Lost Science of Money book and his Refutation of Menger paper, please point out the 'many false beliefs' contained therein.
Feel free to expand at our website.
Thanks.
joebhed 1 year ago
@joebhed You have nothing else to do? You should disabuse yourself of many false beliefs and not merely money. Come to see the truth and truth will set you free.
You can start by going through the many free books on Google Books. Read works published between 1870 and 1920, before the full effects of statism corrupted academia. You can find many books on the topics of inflation, credit, money, economy, crises, panics; socialism, poverty, progress, intervention, eugenics, sociology, ethics.
TruthAxe 1 year ago
@joebhed Why would I care to read some contemporary quackademic's work? Why would I torture myself by being exposed to the false beliefs of some egghead?
I've discovered the lost Science of Money awhile ago. You can too. Google Books has 100s of books on money and credit written during the times of great debates over money, credit and inflation.
TruthAxe 1 year ago
@TruthAxe
Ah, the good old days of gold.
Read "The Fraudulent Standard"??
What Yamaguchi wants is a solution to Japan's lost economic generation, teetering on the brink of full debt-peonage..
If you think you have a better one for him, his email is on the front of his paper.
Why not park the meaningless socialist rhetoric and take apart his methods?
His objective, like the authors of the Chicago Plan and the 1939 Program, is to save capitalism, and to save the capitalists from themselves.
joebhed 1 year ago
@joebhed What Yamaguchi proposes and what you want as well IS Socialism. Socialism means living by a council of bureaucrats who decide who gets what and often who does what.
Capitalism means living by any economic quanity (capital) employed in production in hopes of gaining profit.
What Americans have is Oligopolistic Collectivism that overarches capitalism.
TruthAxe 1 year ago
@TruthAxe
Actually, it is the opposite.
There is no deciding who gets what except by the agreed government budgeting process that results from democratic choice.
Maybe that is what you object to.
MISTER free-marketeer Milton Friedman proposed the exact same thing in his effort to save capitalism.
What truly FREE enterprise needs is a level playing field without the advantage of one group to create the money that ALL the other groups need.
I did not receive notice of all your comments.
joebhed 1 year ago
@joebhed What's the opposite? Socialism? There's nothing democratic about it.
Socialism means living by a council of bureaucrats who decide who gets what and often who does what.
Demo = people, kratos = power. Democratic is that which reflects people with power. Hardly is a council "people".
Everyone knows how well socialism has done. Anyone unsure need only revisit history of the former Soviet Union and 1960s to 1970s United Kingdom.
TruthAxe 1 year ago
@joebhed Another way that Fed Res bankers try to inflate (grow revolving and non-revolving credit) is by reducing the RRR (reserve requirement ratio).
Dummies say "price inflation" when they mean price rises.
Real price inflation is a method by which Politicians use fiscal policy (extraordinary debt issuance for outrageous deficit spending) to increase cash balances of individuals who then bid up prices of non-credit goods.
TruthAxe 1 year ago
@joebhed As always, when the accretion rate outstrips the output rate, the unit buying power drops and hence, prices rise.
I'd venture a bet that between 97 and 99% of all humans DO NOT GET money, credit, banking and central banking. They have numerous false beliefs, often illogically contradicting ones, swirling in their heads.
Alas, from your expressed beliefs, you're confused about the subject. Yet, it's commendable that you have a desire to know it.
You're harming people, tho.
TruthAxe 1 year ago
@TruthAxe
I have a website where your comments can be as long as you like to continue my education and I want to learn something new every day, so please, jump right in.
Double U's dott economic stability dott org .
Are you a Jesus deSoto Austrian?
joebhed 1 year ago
@joebhed I am not an "Austrian". Those of the Austrian School of Neoclassical Economics get wrong money, credit, banking and central banking.
Their belief of the "double simultaneous ownership of money deposited in banks" is a fundamental flaw and reveals that they lack knowing how commerce works and economics works.
Neoclassical Econ is nothing more than the Fallacies of Ricardo amplified by the Fallacies of Mills and then dressed up with a pseudo-psychological theory of satisfaction.
TruthAxe 1 year ago
@joebhed One of the biggest false beliefs held by "bankster" conspiracy types and "debt free" money types, such as yourself, is that bankers lend money that others own. That belief 100% false.
A banker is a trader who buys money and debt by selling bank credit. Under Commercial Law, a banker OWNS the money he buys from a depositor. The depositor sells his money, called a muutum, aka, a deposit, and buys a RIGHT of ACTION against a banker.
TruthAxe 1 year ago
@TruthAxe
I have no such belief, so let's not waste any time here, OK.
I understand the commercial banking law.
It needs revision.
joebhed 1 year ago
@joebhed A banker is no different than a Retailer. A Retailer is a trader who buys goods from a Wholesaler by SELLING CREDIT to the wholesaler. Said another way, the Wholesaler SELLS his goods to the Retailer and BUYS a RIGHT OF ACTION against the Retailer.
Under Commercial Law, the Retailer becomes the owner of the goods. The Wholesaler loses TITLE in the goods.
This is the same in Commercial Banking. The depositor loses TITLE to deposit money and gains a RIGHT of Action.
TruthAxe 1 year ago
@TruthAxe
Gawd.
Except for the fact that the wholesaler as the banker is creating the national medium of exchange in the process.
Advantage -banker.
That makes things a little different as far as commerce and so-called free enterprise goes.
And only the government's promise to pay the depositor gives his right of action any "currency".
Bankers, by the way, are NOT the problem.
Bankers do what bankers do, they lend money.
If the money was FIRST created and THEN lent to the bank, no problem.
joebhed 1 year ago
@joebhed The short of the long of it is that between 97% to 99% should stop opining about all things economics, money, credit, banking and central banking.
Their beliefs are false, thoroughly. They only confuse themselves and whip themselves into frenzies over enemies who do not exist. They live by phantoms in their minds.
Most Ph.D. economists don't get economics, money, credit, banking and central banking.
Most businessmen, most dissidents, most everyone do not get all that as well.
TruthAxe 1 year ago
@TruthAxe
Agreed, as to knowledge, but not about discussion..
Hopefully, present company excluded.
joebhed 1 year ago
Excellent interview!
Thanks for the good work!
WilhelmDrake 1 year ago
Joe, I'd really like to see this posted at overthepeak[dot]com. You can post this and place a link to Yamaguchi's paper within the post as well... I think that would be fine with Nick.
Linda G
lgrinaker 1 year ago
@lgrinaker
Thanks for the thought, Linda.
I appreciate your support for getting Dr. Yamaguchi's ground-breaking work out to as many people as we can.
It's the IMF, the BIS and the Robert Reichs of the world that need to get it, and their chances are just slightly ahead of Nick's.
joebhed 1 year ago