You said that the government creates dollars, but those only account for a small amount of the actually currency that exists. Most dollars are kept in bank accounts, and then leant out, creating the multiplier effect. I've recently heard a lot of people say that banks actually create money. What do you say to this?
Wow most retarded video title ever LOL. Why don't people just ignore this asshole. Peter Schiff has pwnd him on TV, get over it already. Mikey will be wrong again don't worry.
When will you edumacated types stop spinning the world economics like its impersonal.
My defiinition of the US is middleclass working families, and the US is not about the Major Cartel players including the large media companies, forget the bullshit spin talk about someone can just buy treasuries. How about price riots in Walmart, food stamps, and just keeping your job to pay for your children to have food, clothing and shelter, where does this impersonal theory of the edumacated fit them in?
Uall should take the crash course and read "The Creature from Jekyll Island", a second look at the Federal Reserve. The cartel between governments (worldwide) and central banking system along with the monopolies they create have run amuck!! No cop on the block to keep the game in balance between the 1% and 99%. With this debt based system we are doomed to the exponential interest rate debt bomb. To unwind shadow banking , banks are socializeing losses, now that they first privatized the gains.
Who won? The stock market zero changed over the year, so investors long term bull or bear got doodley squat. Senior citizens with savings of .15% interest on their accounts got doodley squat. This low interest is due to Big Ben. College grads with huge loans to pay and no job prospects got doodley squat. Homeowner under water thru no fault of thier own got doodley squat. AMR bankrupt MF Global Bankrupt soo who is the big winner? Maddoff, "I don't know where the money is" Corzine, Stanford, Dimon
When you deposit money at a bank, it is essentially a loan from you to the bank that you can undo by withdrawing it. That is really why you get interest, else you would have to pay for the service to store your wealth!
Now the government spends more then it taxes, so it writes out treasuries (loans, it pays back with interest) on which private parties can bit. Anyone bidding is actually participating in a loan contract!
Your twisting everything around and painting a false picture Norman!
@TheEVEInspiration Government spending creates money and taxes destroy it. People then lend the money back to the government, but it doesn't 'have' to borrow it back, unless it wants to support a positive non-Zero Interest Rate Policy. The Foreign sector can of course choose to 'unlend' it's treasury savings account by converting them back into dollars, then what? They can spend it on assets goods or services priced in dollars, simples!
I think the main point should be the US is the big winner is this situation. The US gets real goods and services and China gets entries in their savings or chequing account.
The big kicker is that the US won't let China buy anything in the US with the dollars they've accumulated.
regardless of the terminology, they are lending us money and it must be paid back, and we dont have the funds to pay it back. We cant even balance the budget let alone cut a penny from our 15 trillion dollar dent. we're broke.
@Scapone2001 All China can do with the dollars is use it to buy things for dollars.
What would the dollar loans be repaid with? Just Dollars, they take money out of the 'savings'' account and get dollars they can spend on goods and services or assets ( ;-) ) priced in dollars. Simples!
You said that the government creates dollars, but those only account for a small amount of the actually currency that exists. Most dollars are kept in bank accounts, and then leant out, creating the multiplier effect. I've recently heard a lot of people say that banks actually create money. What do you say to this?
BurntEngineOil 1 week ago in playlist Uploaded videos
China prints Yuan and buys dollars. This pushes down the exchange rate. Then China buys treasuries with the dollars it has.
FrankiePoker 1 month ago in playlist Uploaded videos
Those $1 Federal Reserve Notes make wonderful bookmarks.
UponInfinity 1 month ago
We don't borrow money from China. The next thing this idiot will say is we don't have a National Debt.
stripe64 2 months ago
@stripe64 Well, let's hope that bullets won't be part of his body part when the paper money fails.
ltmikepowell 1 month ago
Wow most retarded video title ever LOL. Why don't people just ignore this asshole. Peter Schiff has pwnd him on TV, get over it already. Mikey will be wrong again don't worry.
TWSceptic 2 months ago in playlist Uploaded videos 6
mike, can you talk in detail about the petrodollar and what happens when countries stop selling oil in dollars? thank you ;)
larrybonner1 2 months ago
@larrybonner1 his head will explode
Frankenpalin 1 month ago
@larrybonner1 Come on, just do some animation that how a bullet punch through a people's head.
ltmikepowell 1 month ago
@ltmikepowell had thought about it... guessin you could do it with adobe after effects
larrybonner1 1 month ago
@larrybonner1 Let's hope can find a 7.62mm rifle round. Wonder how BIG the hole at this freak's head?
ltmikepowell 1 month ago
When will you edumacated types stop spinning the world economics like its impersonal.
My defiinition of the US is middleclass working families, and the US is not about the Major Cartel players including the large media companies, forget the bullshit spin talk about someone can just buy treasuries. How about price riots in Walmart, food stamps, and just keeping your job to pay for your children to have food, clothing and shelter, where does this impersonal theory of the edumacated fit them in?
merchantsailor 2 months ago
Uall should take the crash course and read "The Creature from Jekyll Island", a second look at the Federal Reserve. The cartel between governments (worldwide) and central banking system along with the monopolies they create have run amuck!! No cop on the block to keep the game in balance between the 1% and 99%. With this debt based system we are doomed to the exponential interest rate debt bomb. To unwind shadow banking , banks are socializeing losses, now that they first privatized the gains.
merchantsailor 2 months ago
Who won? The stock market zero changed over the year, so investors long term bull or bear got doodley squat. Senior citizens with savings of .15% interest on their accounts got doodley squat. This low interest is due to Big Ben. College grads with huge loans to pay and no job prospects got doodley squat. Homeowner under water thru no fault of thier own got doodley squat. AMR bankrupt MF Global Bankrupt soo who is the big winner? Maddoff, "I don't know where the money is" Corzine, Stanford, Dimon
merchantsailor 2 months ago
Wow. That makes a lot of sense. I guess I've been listening to Peter Schiff too much
rudemood2011 2 months ago
@rudemood2011 Too little and not understanding him I think.
TWSceptic 2 months ago in playlist Uploaded videos 5
Mike, I get the impression you are ready to burst out laughing at any minute in this video! Your face is very funny.
sternumagnum 2 months ago
Is this guy ask for his head to be blow up by the lenders?
ltmikepowell 2 months ago in playlist Uploaded videos
When you deposit money at a bank, it is essentially a loan from you to the bank that you can undo by withdrawing it. That is really why you get interest, else you would have to pay for the service to store your wealth!
Now the government spends more then it taxes, so it writes out treasuries (loans, it pays back with interest) on which private parties can bit. Anyone bidding is actually participating in a loan contract!
Your twisting everything around and painting a false picture Norman!
TheEVEInspiration 2 months ago
@TheEVEInspiration Government spending creates money and taxes destroy it. People then lend the money back to the government, but it doesn't 'have' to borrow it back, unless it wants to support a positive non-Zero Interest Rate Policy. The Foreign sector can of course choose to 'unlend' it's treasury savings account by converting them back into dollars, then what? They can spend it on assets goods or services priced in dollars, simples!
WillOrng 2 months ago
I think the main point should be the US is the big winner is this situation. The US gets real goods and services and China gets entries in their savings or chequing account.
The big kicker is that the US won't let China buy anything in the US with the dollars they've accumulated.
WilhelmDrake 2 months ago
I suppose that China has no choice but to buy US treasuries if they don't want to let their currency float.
707hoser 2 months ago in playlist More videos from mikeydoggy
Educate yourself on why the British Pound quit being the world currency in 1971...
chimandude 2 months ago
regardless of the terminology, they are lending us money and it must be paid back, and we dont have the funds to pay it back. We cant even balance the budget let alone cut a penny from our 15 trillion dollar dent. we're broke.
Scapone2001 2 months ago
@Scapone2001 All China can do with the dollars is use it to buy things for dollars.
What would the dollar loans be repaid with? Just Dollars, they take money out of the 'savings'' account and get dollars they can spend on goods and services or assets ( ;-) ) priced in dollars. Simples!
WillOrng 2 months ago
Mike will Peter allow you to interview him? It would be epic
GypsyHustled 2 months ago 3
This has been flagged as spam show
You might have to simplify that for the Schiff Sheep. LOL! Happy Holidays!
XESTISS 2 months ago 3
@XESTISS So you think those banks or financial institute will just forgive your debt?
Be careful if you speak these words to peoples from World Bank or IMF, because they'll blast you wide open if you pissed them off.
ltmikepowell 2 months ago