Inflation is the inevitable consequence od CRAPITALISM!!!
this is what americans chose when they said fvck communism and supported this evil ideology. you chose inflation over freedom. capitalism is like a time bomb, it was meant to explode and it will bring millions of lives with it. capitalism is a failure.
But the money the government prints isn't fraudulent. Congress has the right to print all the fiat money it wants and it has the right to delegate this to a national bank. Read the Constitution.
@mustang6172 I don't really care what the constitution says, a centralized fiat currency is not justified, nor good for those upon whom it's imposed. That said, I'd be curious to see where you think the constitution gives congress that authority.
@mustang6172 but the federal government is not authorized to enforce the use of a particular money. That's left to the states with this caveat: Article I, Section 10, Clause 1: No State shall…coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debt.
@mustang6172 Yes, Congress does have the power to coin money. However there is NOTHING in the Constitution about the Federal Reserve or delegating that responsibility. Also, you may want to do some research about who was involved in creating the Fed and why, you may be surprised.
@mustang6172 The govt therefore has the power to make your money worthless. If rybys were as common a rocks...they wouldnt be worth anything. Learn basic economics... from ducktales even!
@lanebatts26 Governments get their power from the consent of the governed. If they make my money worthless, then it must have been my doing via the transitive property.
Sad thing is that in real life, the federal reserve doesn't need no high tech duplicator to make physical money. Numbers on a computer is all they need. Wrecking the economy has never been more convenient.
There are currency markets. If the world does not trust the U.S. treasury, then they're free to use Euros, Yen, or even gold nuggets. Stop with the doom and gloom. Before the Federal Reserve we had huge economic crises: Panic of 1873, Panic of 1893. We went into the Great Depression while on the gold standard.
I originally came here to share part of my childhood with my nephew.
@dashrirprock I don't favor a gold standard. I favor a free market. in order to have a free market there must be a free market in currency (i.e. people are free to exchange any good, commodity, or service for any other good, commodity, or service). a currency market does nothing of the sort. maybe you're familiar with bernard von nothaus. That's what happens if you offer an alternative to the government's fiat currency. If they didn't have a violent monopoly on it, no one would use it.
@dashrirprock the panic of 1893 happened because of government interference. read about the sherman silver act, and also read about what harding did to get us out of it, namely cut the federal budget and lowered taxes (along with repealing the sherman silver act). the economy recovered quickly. this part of history is passed over quite often.
@dashrirprock Hey buddy. The Great Depression happened, not because the gold standard. The Federal Reserve central banking was put in place in 1913. That would be several years before the depression. And those panics you speak of are again, not because of a gold standard. The US had 2 other central banks before the Fed, along with other government meddling.
Less government spending, less taxation to American Citizens, a budget plan that works.
This man has been fighting for your personal freedom and the separation of congress from big business for years. He stands against draconian bills like SOPA, NDAA and the Patriot Act.
He has fought against the war on drugs, the foreign wars, and corporate bail outs.
@TheAbsoluTurk unlike scrooge, WE human beings will die so we cannot keep or hold onto anything. if an economy collapses, its currency is either worthless or severely inflated. better to live life and spend money. you can't keep anything in life. life passes us all by....
While I like the educational aspect of the original content it doesn't relate to the Fed since you have a large economy artificially keeping its exchange rate low. The US has done quantitative easing because China has a fixed exchange rate - I can't see the US fixing its currency and interest rates are as low as they can go... Devaluing currency helps since debt effectively becomes less expensive and balance of trade should improve. It will hurt now but needs to be done for the long term.
In the right circumstances, inflating currency is actually an effective way to jumpstart economic growth due to the denomination affect, in which people are more likely to spend a lot of less valued money than one very valuable unit of money. Its still risky though.
This argument is so simple. Keynesians/Hamiltonians/Marxists love to make everything oh so complicated so they can make themselves look smart; instead they destroy the economy. Scrooge McDuck=Ron Paul in this video! :D Thanks for uploading.
Funnily enough they don't notice that instead of duplicating worthless coins the could've duplicated something of real value and become millionaires while also making everyone much better off, feeding the poor etc.
@krimm Why? If you mean that it would put people out of work then in the long run this is a great thing! Temporarily of course it leaves people looking for work, however because everything is now 100x cheaper people have more to spend which creates more jobs. Some people will inevitably end up with jobs trying to make bigger and better duplicating machines, while others will work on providing goods or services which can't be cloned with these machines.
@sharperguy Still others will be able to provide things which never could've been available if it were not for the invention of this device. For example at the moment space travel is very expensive, however if all the parts could be cloned easily, it could become very cheap and viable. Even if it weren't any cheaper it still might be viable because people have more resources to divert to its development which were previously being used for more important things.
Miserabile, et numulariorum semper vincit. Hoc tantum possum clare appareat in exemplum culpae pars ignari ----- AdUmbroDeus; Populi! Vivamus ovesuli ;-)
While technically correct, it paints a very simplistic picture of monetary policy.
While currency in circulation does have an effect, laws that require banks to have a certain amount of money on hand do more. For example, if banks are required to keep 10% of all deposits on hand, you give a dollar, they invest 90 cents, which in turn the next bank can invest 81 cents of, and so on.
Furthermore, we're on the verge of hyper-deflation because banks are scared to invest, so contracting is bad.
this is silly, what you're talking about is hyper-inflation which we're far from. The very fact that we HAVEN'T hit hyper inflation with such incredibly low exchange rates is because that we're one step away from hyper-deflation.
Which brings me to another point, the actual physical currency is nowhere near as much of an issue in inflation as you seem to think. Percentage of money banks require on hand by law is the main factor.
this is silly, what you're talking about is hyper-inflation which we're far from. The very fact that we HAVEN'T hit hyper inflation with such incredibly low exchange rates is because that we're one step away from hyper-deflation.
Which brings me to another point, the actual physical currency is nowhere near as much of an issue in inflation as you seem to think. Percentage of money banks require on hand by law is the main factor.
@jms8220 Any import will become impossible as exchange rates will go haywire. Also, no foreign country will lend you any money so your currency will devaluate further and you will find yourself running to the bakery to exchange your salary for some bread before it's value is cut in half.. again. As a result, the bakery will go out of business, as the money he earns is worthless before closing time.
@jms8220 "i rly dont understand why inflation is bad."
Your $100 savings bought you 100 oranges last year. You may get a ridiculous 10% interest, but still this year your now-$110 savings only buy you 11 oranges. This is awesome for debt though, of which the USA has a lot.
@jms8220 "i rly dont understand why inflation is bad."
Your $100 savings bought you 100 oranges last year. You may get a ridiculous 10% interest, but still this year your now-$110 savings only buy you 11 oranges. This is awesome for debt though, of which the USA has a lot.
i rly dont understand why inflation is bad. if inflation goes up doesnt it go up for everyone. so the orange that cost a dollar last year now costs 10, but instead of making 1 dollar from work, you now make 10, since it inflates for everyone. so why is this bad? im sure this is dumb logic and im missing something here, but i cant figure it out
@jms8220 Not all prices rise at the same rate. Some prices are more 'sticky' than others. For example, food and fuel rise fast, but wages rise slowly. Therefore, over time the inflation-adjusted wages go down. The only way to avoid this is to be rich enough to diversify out of dollars, which the poor can't do. Hence, the higher inflation, the poorer the poor people get over time.
Look at the genius of this cartoon, now compare it to the nonesense we get nowadays i.e. pokemon, yu-gi-oh. Its no wonder kids are stupid and have no brains to deal with things like peer pressure.
@kazztawdal ok this might not be the best for entertainment but atleast the entertainment makes sense. It contains logic and some kids might actually enjoy it as a bonus. Now if you look at the cartoons nowadays like damn Pokemon (which still have no clue what it really is about) it contains no logic at all. The entertainment factor is also suspect with Pokemon. Kids are taught to repeat words like idiots and stare at flashing colours.
Some interesting points have been made in the comments. However, many of you are missing the point: the government does not print money, it prints currency. It does not become money until it is used to facilitate an economic transaction. The more currency printed and introduced into the economy, the less it is worth. Print enough, and you have hyper-inflation (as depicted in the cartoon).
ILearnedEverythingI knowAbout life from Ducktales. How to please a woman, the origin of life, how many licks it takes to get to the tootsie roll center of a tootsie pop, how much wood a wood chuck would chuck if it could chuck wood, the meaning of life, why 6 was afraid of 7, who shot mr burns, what it sounds like when one hand is clapping, where carmen san diego isWhatIfGodWasOneOfUs, if a tree falls and no one is around to hear it if it makes a noise,WhatWasInsideMarsellusWallace'sBriefcase
Wow, I remember that episode, but I didn't realize what a cool lesson it was teaching! and it wasn't corny either. It gave me a flashback to a news report in some country were they had to print a $10,000 bill so people could use it to buy simple things like bread.
Ron Paul Money Bomb! July 19th! Ready Ames Fire! Stop the same establishment trash every four years and get a REAL Constitutionalist in office! wwwdotronpaul2012dotcom End the Fed!
I used to watch Duck Tales as a kid (and remember seeing this episode) and I know a bit about inflation, but this is the first time I've seen it in THIS perspective.
How the Fed profits from inflation, and embezzled $8.4 trillion last year, and hid it from Congress is posted at 3w scribd dot com message 49040689 RIP OFF BY FEDERAL RESERVE.
@zackhanscom not sure if you're being sarcastic or not, but it seems that many people are unable to imagine the government doing anything wrong, and thus incapable of counterfeiting. but what is counterfeiting? in the case of the government (the fed is actually a private bank) not only do they force people with the threat of violence, to use a valueless currency, they continually debase it by expanding the supply which steals purchasing power from those who are forced to use it.
A soverigin state is just a type of collective ''over-ownership'', and the government is just a tool the citizens use because they actively vote for it. I'm not defending government counterfeiting but if you're free to leave at any time, no one is ''forcing'' you anymore than a landlord ''forces'' you to pay the rent.
@Stockiex02 nonsense. the "if you don't like it, then leave" argument is lazy. it assumes that "the government" justly owns everything within their boundaries, which certainly is not the case.
How is it more unjust than a private person getting to own accumulated capital from property theft, slavery or other unjust ways of establishing property according to liberal ownership principles? Most people got old accumulated capital like this from one time or another, you probably should do some geneology and research about the stuff you own before taking a moral highground. Do that, get rid of the amount of inherited unjust ownings and capital you've got, *then* complain.
@SwedxSimon02 i did not say anything about more or less unjust. it simply is unjust. hence your argument is flawed. i can only be held responsible for my actions. if someone in my lineage profited unjustly or more likely with my ancestry suffered a great loss due to injustice by others, there is no way to quantify the effects it had on me. there is no such individual called "the government." the government cannot own anything rightly.
how is this any different from a counterfeiter who creates paper money, other than the fact that they at least aren't forcing other to use that currency. the US governement in cahoots with the federal reserve bank is far worse than any counterfeiter.
@ShatterState yes. So what if it would. Why does that justify our dealth? if we REALLY were selfish, we'd find ways to fix our situation. not destroy our resources.
There's a much better example on ducktales. It's the land of "tra la la" and the bottle caps used as money. A billion are dumped on the island and they are loved at first, then everything costs more and soon they get arrested for littering.
The FRBNY received $8;4 trillion from the auctions of T-securities last year but it is not reported as income. It was profit for the Fed. The Ponzi scheme Fed receives the value of every T-security issued by Congress. Why is this not reported to Congress as required by Title 12, section 247 for a “full report”? Ref. 3w scribd dot com message 49040689 RIP OFF BY THE FEDERAL RESERVE
@Joe402 i always get a giggle out of people who take the time to comment without even trying to make a valid argument. it must be painful disagreeing with something without being able to even remotely articulate why you disagree.
@Joe402 I wonder what might have made you jump to the conclusion that i advocate a return to the gold standard. i don't recall ever making such a statement. and again, you might want to try developing arguments rather than assertions.
@Joe402 the gold standard is likely a superior monetary system to the federal reserve system, but i would never advocate one particular system. the medium of exchange used for transactions should be decided by the individuals making the transactions, and not imposed on them. this should be done out of ethical considerations as well as practical. the flaws of keynesian economics are becoming more clear everyday through observation. and the real tragedy is that it's forced on everyone.
@911Dagur any system that requires people to be forced to used a particular currency, whether it be fiat or precious metals, is unethical, and impractical. keynesian economic assumes that a few people can successfully predict the seemingly infinite decisions of the millions of people within a particular economy. it's also founded on the premise that people will be forced to use a intrinsically worthless currency that will systematically be debased over time. currency should be voluntary.
@prattleon I get a giggle out of the political illiterates that misunderstand a central tenet of their contempt for government. The Federal Reserve does not print counterfeit money - or real money for that matter. Only the US Treasury's Bureau of Engraving and Printing can print money (or the Mint for coins). It does set monetary policy, and can increase money supply by purchasing private bank assets, but such actions are lawful and subject to Congressional oversight.
@crapcat1980 oh geez. i can't tell you how many times people have pointed out that the fed does not actually MAKE the money that it is responsible for willing into existence, as though that makes any difference. and the foolish, it's ok because it's legal argument is a slap in the face to ethics. in other words. slavery was ok when it was legal. tell me what i'm misunderstanding without making assumptions and relying on appeals to authority.
@prattleon I get a giggle out of the political illiterates that misunderstand a central tenet of their contempt for government. The Federal Reserve does not print counterfeit money - or real money for that matter. Only the US Treasury's Bureau of Engraving and Printing can print money (or the Mint for coins). It does set monetary policy, and can increase money supply by purchasing private bank assets, but such actions are lawful and subject to Congressional oversight.
I wonder if the video creator still feels the same now that Obama is in charge and he's doing this on a greater scale? Still angry about that (rightfully should be) or is this one of those things we are only allowed to be angry at Bush for?
@marino3d wonder no more! obama told us everything was ok, so i'm no longer concerned. i'm also very thankful that he ended the wars in the middle east, closed guantanamo, put a stop to that awful patriot act, and all the other wonderful things he said he'd do!
This is the coolest video I have ever seen!! Im downloading all the episodes of this show and my kids are watching them instead of watching gay muppet couples with herpes adopt muppet children on Sesame Street.
So what you are saying is basically that you have no idea how the federal reserve or modern economic theory works or applies.
The federal reserve doesn't print money, it conducts open market operations in order to influence interest rates and the supply of money by buying or selling bonds. It's the department of treasury who prints the money.
The reason inflation exists is because an expanding money supply increases GDP and lowers unemployment. It's sound fiscal policy.
@milnekevin oh, you mean the fed doesn't use a duplicating ray gun? how silly of me. i suppose it's my fault for not stating in the description that i don't believe the fed uses a ray gun created by a duck to print money. the issue is not how the physical paper money is printed -- that's superficial. the issue is the expansion of the money supply, and yes, buying bonds is one way the fed does that. and that doesn't make it any better.
@milnekevin Why is an expanding GDP necessarily good? It stands to reason that if you increase the total money supply that nominal measures of monetary expenditures will rise accordingly, but this tells us nothing about real productive capacity, capital investment, resource allocation etc. As far as lowering unemployment - it matters HOW unemployment gets lowered. If unemployment is lowered by stimulating a sector that is already oversaturated (say, housing), labor and resources will be wasted.
@milnekevin When people can take out more loans, yes, it can help the economy. However, debt must be paid back eventually, and so when you inflate the economy artificially eventually it must eventually contract that same amount or usually much more. Thats where booms and busts come from. They are not caused by the free market. They are caused by the Fed. Bernanke has even admitted that publicly.
@Porojukaha I need to respond to this because of how innaccurate it is. It is not disputed that boom and busts happen in the free market. Bernanke never said intervention caused booms and busts. Also taking out loans has very little to do with inflation or quantitative easing. And yes, easing at some point will be followed with tightening, which is why you add money during a recession and decrease as the recession draws to a close in order to make recessions less painful.
@milnekevin you need to learn about how the reserve requirement system in banks really works. That is how QE and bank loans cause inflations and booms and busts. And yes lots of people dispute that booms and busts happen in the free market. in fact, all austrian economists dispute it. Usually because before the great depression we there never was a bust created by the free market in america, nor was there a bubble. There were depressions caused by war, but never by the market
"Also taking out loans has very little to do with inflation"
I lived in CA, home prices doubled in 3 years because of loans (made from newly created money/credit). Honestly this was real world inflation of a specific asset class over a very short time created by newly created money pouring into it.
Inflation is driven by Commercial Federal Reserve Banks making Credit "from nowhere" thus increasing the money supply. Its just one more form of inflation (expanded money supply).
@milnekevin If I understand correctly, the Fed was created to shrink the money supply during recessions to help equillibrate quickly, vice versa for booms to limit how large a boom could grow. Also, fractional reserve banking / multiplier effect constitutes huge money supply increases. At 20% reserves the market increases loanable funds by +400%.
@xzjatx Well, not quite. The Fed in its infancy shrank the money supply during a recession, which triggered the bank runs that caused the Great Depression. Theoretically to help stabilize the economy you expand the money supply in a recession and shrink or keep the same in a boom.
Correct about small increases being magnified, although it's really complicated because of accounts they don't apply to (like money markets), velocity of money, etc. The fed takes that into account though (or should).
@milnekevin I should also note that the great depression was caused by the fed and government regulations, and then made even WORSE by those same institutions. Also, the problem with the 20s bank run was caused by government as well.
@milnekevin Money is a unit of account that measures the lavue of labor and/or services, therefor; expanding the money supply does NOT increase goods produced. Inflation just devalues those units of account since the units used to account the value have been increased. Increasing the money supply is robbing the value of the work and savings the citizens do. Increasing the money supply is another form of taxation and is theft. That's why we have the Constitution to provide sound money w/ gold
@anime1973 The Prime Rate to 5.5%? Yea I think I agree with that. At least they need to start raising it now and slowly get up to 5.5%, a low interest rate can only get you so far in my opinion.
.,&8999
ashlealuvzu 11 hours ago
Inflation is the inevitable consequence od CRAPITALISM!!!
this is what americans chose when they said fvck communism and supported this evil ideology. you chose inflation over freedom. capitalism is like a time bomb, it was meant to explode and it will bring millions of lives with it. capitalism is a failure.
--No reply-- *useless struggle dont offend me*
XxPhoenixHarpyexX2 4 days ago
But the money the government prints isn't fraudulent. Congress has the right to print all the fiat money it wants and it has the right to delegate this to a national bank. Read the Constitution.
mustang6172 2 weeks ago
@mustang6172 I don't really care what the constitution says, a centralized fiat currency is not justified, nor good for those upon whom it's imposed. That said, I'd be curious to see where you think the constitution gives congress that authority.
prattleon 2 weeks ago
@prattleon Article 1 Section 8 "...To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;..."
mustang6172 2 weeks ago
@mustang6172 but the federal government is not authorized to enforce the use of a particular money. That's left to the states with this caveat: Article I, Section 10, Clause 1: No State shall…coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debt.
prattleon 2 weeks ago
@mustang6172 Yes, Congress does have the power to coin money. However there is NOTHING in the Constitution about the Federal Reserve or delegating that responsibility. Also, you may want to do some research about who was involved in creating the Fed and why, you may be surprised.
natedogg111580 2 weeks ago
@mustang6172 you should go to here, to learn about what you talk. tomwoods.com/dollar/
randyrobson 1 week ago in playlist Inflation
@mustang6172 The Federal Reserve is NOT Congress.
st4ticblu3 1 week ago
@mustang6172 The govt therefore has the power to make your money worthless. If rybys were as common a rocks...they wouldnt be worth anything. Learn basic economics... from ducktales even!
lanebatts26 6 days ago
@lanebatts26 Governments get their power from the consent of the governed. If they make my money worthless, then it must have been my doing via the transitive property.
mustang6172 6 days ago
Sad thing is that in real life, the federal reserve doesn't need no high tech duplicator to make physical money. Numbers on a computer is all they need. Wrecking the economy has never been more convenient.
jcrowley1985 3 weeks ago
Goldbug fail.
There are currency markets. If the world does not trust the U.S. treasury, then they're free to use Euros, Yen, or even gold nuggets. Stop with the doom and gloom. Before the Federal Reserve we had huge economic crises: Panic of 1873, Panic of 1893. We went into the Great Depression while on the gold standard.
I originally came here to share part of my childhood with my nephew.
dashrirprock 1 month ago
@dashrirprock I don't favor a gold standard. I favor a free market. in order to have a free market there must be a free market in currency (i.e. people are free to exchange any good, commodity, or service for any other good, commodity, or service). a currency market does nothing of the sort. maybe you're familiar with bernard von nothaus. That's what happens if you offer an alternative to the government's fiat currency. If they didn't have a violent monopoly on it, no one would use it.
prattleon 1 month ago 3
@dashrirprock the panic of 1893 happened because of government interference. read about the sherman silver act, and also read about what harding did to get us out of it, namely cut the federal budget and lowered taxes (along with repealing the sherman silver act). the economy recovered quickly. this part of history is passed over quite often.
chadimus84 3 weeks ago
@dashrirprock Hey buddy. The Great Depression happened, not because the gold standard. The Federal Reserve central banking was put in place in 1913. That would be several years before the depression. And those panics you speak of are again, not because of a gold standard. The US had 2 other central banks before the Fed, along with other government meddling.
randyrobson 1 week ago in playlist Inflation
@dashrirprock You can learn about those specific "panics", here. - tomwoods.com/panics/
randyrobson 1 week ago in playlist Inflation
@dashrirprock panics that were deliberately created by the international banking elite.
amillerps 1 day ago
Great!!
I always had this query as to why not surplus money was minted to alleviate poverty!!
Never had the chance to ask this question because we never had been taught Economics in School and College!!
Now i know why!!
Thanks Uncle Scrooge and Prattleon!
BeneathAndBeyond 1 month ago
This has been flagged as spam show
This is one very "scary" video. =p
lynncase12 1 month ago
brilliant!!
perfectioninheaven 1 month ago
Funny how even greedy people (Scrooge) can still understand the basics of economics. Why, it's almost like they're... HUMAN!
Altimadark 1 month ago
Only Ron Paul is fighting against inflation, all the others are fakes and liars and cheats!
904PinballZine 1 month ago 4
This has been flagged as spam show
Support Ron Paul.
Less government spending, less taxation to American Citizens, a budget plan that works.
This man has been fighting for your personal freedom and the separation of congress from big business for years. He stands against draconian bills like SOPA, NDAA and the Patriot Act.
He has fought against the war on drugs, the foreign wars, and corporate bail outs.
Vote for liberty this year. Vote for real change.
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RapsAlive 2 months ago
They should show this to Ben Bernanke and Obama. They could learn something.
TWSceptic 2 months ago 5
@TWSceptic Correction, it's Osama bin Bernanke.
ltmikepowell 2 months ago 3
Scrooge is smart, he keeps his money in gold.
TheAbsoluTurk 3 months ago 41
This sh*t is whack mixing government trying to make a point with Duck Tales, facken lame
ServingLosAngeles1 1 month ago
@ServingLosAngeles1 you don't it's good for children to have some understanding and appreciation of value?
chadimus84 3 weeks ago
@TheAbsoluTurk unlike scrooge, WE human beings will die so we cannot keep or hold onto anything. if an economy collapses, its currency is either worthless or severely inflated. better to live life and spend money. you can't keep anything in life. life passes us all by....
AlirazaVideoGames 1 day ago
and my parents telling me watching cartoons were bad... i used to watch duck tales all the time!
Androopy1 3 months ago 2
You edited Ducktales to fit your political agenda!! FUCK YOU THAT'S SACRELIGIOUS! DIE IN A FIRE!
viper8red 3 months ago
@viper8red u mad
DoctorCapitalist 3 months ago
@DoctorCapitalist I'm He-Mad!
viper8red 3 months ago
While I like the educational aspect of the original content it doesn't relate to the Fed since you have a large economy artificially keeping its exchange rate low. The US has done quantitative easing because China has a fixed exchange rate - I can't see the US fixing its currency and interest rates are as low as they can go... Devaluing currency helps since debt effectively becomes less expensive and balance of trade should improve. It will hurt now but needs to be done for the long term.
fatShowPony 3 months ago
Most cartoons are more intelligent than one's national government.
twistedtheaos 3 months ago 13
That's it! My kids are definitely watching this cartoon.
whatevsbyatch 4 months ago
We would be in trouble if Bernanke didn't understand this.
The fact that he does understand it means that we're utterly screwed.
shamgar001 4 months ago 5
Comment removed
NefariousBanana 4 months ago
3:14
mmm...chicken...
Mineav 4 months ago
In the right circumstances, inflating currency is actually an effective way to jumpstart economic growth due to the denomination affect, in which people are more likely to spend a lot of less valued money than one very valuable unit of money. Its still risky though.
YNot1989 4 months ago
This argument is so simple. Keynesians/Hamiltonians/Marxists love to make everything oh so complicated so they can make themselves look smart; instead they destroy the economy. Scrooge McDuck=Ron Paul in this video! :D Thanks for uploading.
WintersAscension 4 months ago 4
I remember this one, but of course, it has all new meaning to me now.
TBustah 4 months ago
Funnily enough they don't notice that instead of duplicating worthless coins the could've duplicated something of real value and become millionaires while also making everyone much better off, feeding the poor etc.
sharperguy 4 months ago
@sharperguy You are just as naive as Huey, Dewey, and Louie!
krimm 4 months ago
@krimm Why? If you mean that it would put people out of work then in the long run this is a great thing! Temporarily of course it leaves people looking for work, however because everything is now 100x cheaper people have more to spend which creates more jobs. Some people will inevitably end up with jobs trying to make bigger and better duplicating machines, while others will work on providing goods or services which can't be cloned with these machines.
sharperguy 4 months ago
@sharperguy Still others will be able to provide things which never could've been available if it were not for the invention of this device. For example at the moment space travel is very expensive, however if all the parts could be cloned easily, it could become very cheap and viable. Even if it weren't any cheaper it still might be viable because people have more resources to divert to its development which were previously being used for more important things.
sharperguy 4 months ago
wow, I haven't seen this episode in years!! I can't believe I learned a basic economics concept from a weekday afternoon childrens' cartoon, LMAO
cdc2200 4 months ago
Miserabile, et numulariorum semper vincit. Hoc tantum possum clare appareat in exemplum culpae pars ignari ----- AdUmbroDeus; Populi! Vivamus ovesuli ;-)
GenuineViking 4 months ago
Someone show this to Obama
ovician 5 months ago 5
@ovician Implying he doesn't know.
ghos7bear 4 months ago
Duck Tales, teaching economy to the kids since 1987.
Arkangel630 5 months ago
Uncle Scrooge...
Real economist.
mortichro 5 months ago
While technically correct, it paints a very simplistic picture of monetary policy.
While currency in circulation does have an effect, laws that require banks to have a certain amount of money on hand do more. For example, if banks are required to keep 10% of all deposits on hand, you give a dollar, they invest 90 cents, which in turn the next bank can invest 81 cents of, and so on.
Furthermore, we're on the verge of hyper-deflation because banks are scared to invest, so contracting is bad.
AdumbroDeus 5 months ago
This has been flagged as spam show
this is silly, what you're talking about is hyper-inflation which we're far from. The very fact that we HAVEN'T hit hyper inflation with such incredibly low exchange rates is because that we're one step away from hyper-deflation.
Which brings me to another point, the actual physical currency is nowhere near as much of an issue in inflation as you seem to think. Percentage of money banks require on hand by law is the main factor.
Further, inexpensive currency actually helps trading.
AdumbroDeus 5 months ago
this is silly, what you're talking about is hyper-inflation which we're far from. The very fact that we HAVEN'T hit hyper inflation with such incredibly low exchange rates is because that we're one step away from hyper-deflation.
Which brings me to another point, the actual physical currency is nowhere near as much of an issue in inflation as you seem to think. Percentage of money banks require on hand by law is the main factor.
Further, inexpensive currency actually helps trading.
AdumbroDeus 5 months ago
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Duck Tales was my favorite show when I was a kid, sigh, I wish kids today could learn something important while watching tv... sigh lol
kaneda603 5 months ago
Duck Tales was my favorite show when I was a kid, sigh, I wish kids today could learn something important while watching tv... sigh lol
kaneda603 5 months ago
@jms8220 Any import will become impossible as exchange rates will go haywire. Also, no foreign country will lend you any money so your currency will devaluate further and you will find yourself running to the bakery to exchange your salary for some bread before it's value is cut in half.. again. As a result, the bakery will go out of business, as the money he earns is worthless before closing time.
Hyperinflation is a bitch.
w3irdn3rd 5 months ago
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@jms8220 "i rly dont understand why inflation is bad."
Your $100 savings bought you 100 oranges last year. You may get a ridiculous 10% interest, but still this year your now-$110 savings only buy you 11 oranges. This is awesome for debt though, of which the USA has a lot.
w3irdn3rd 5 months ago
@jms8220 "i rly dont understand why inflation is bad."
Your $100 savings bought you 100 oranges last year. You may get a ridiculous 10% interest, but still this year your now-$110 savings only buy you 11 oranges. This is awesome for debt though, of which the USA has a lot.
w3irdn3rd 5 months ago
"that will be $40000 per filling" "well at least some prices havent gone up" i laughed hard but it hurt cus i just came from the dentist.
boyboy2000ful 5 months ago
i rly dont understand why inflation is bad. if inflation goes up doesnt it go up for everyone. so the orange that cost a dollar last year now costs 10, but instead of making 1 dollar from work, you now make 10, since it inflates for everyone. so why is this bad? im sure this is dumb logic and im missing something here, but i cant figure it out
jms8220 5 months ago
@jms8220
It's bad because it hurts the middle man i mean do you really wanna pay 10-20 dollars for a gallon of milk.
hellraiser6391 5 months ago
@jms8220 Not all prices rise at the same rate. Some prices are more 'sticky' than others. For example, food and fuel rise fast, but wages rise slowly. Therefore, over time the inflation-adjusted wages go down. The only way to avoid this is to be rich enough to diversify out of dollars, which the poor can't do. Hence, the higher inflation, the poorer the poor people get over time.
drewmandan 5 months ago
Look at the genius of this cartoon, now compare it to the nonesense we get nowadays i.e. pokemon, yu-gi-oh. Its no wonder kids are stupid and have no brains to deal with things like peer pressure.
awacs52 6 months ago 2
@awacs52 this cartoon is boring
kazztawdal 6 months ago
@kazztawdal ok this might not be the best for entertainment but atleast the entertainment makes sense. It contains logic and some kids might actually enjoy it as a bonus. Now if you look at the cartoons nowadays like damn Pokemon (which still have no clue what it really is about) it contains no logic at all. The entertainment factor is also suspect with Pokemon. Kids are taught to repeat words like idiots and stare at flashing colours.
awacs52 6 months ago
sounds like alan greenspan too
amm8399 6 months ago
I'm glad you added Obama to the tags. Both parties have blame for our rising yet unrealized inflation
jarrettrocksvt 6 months ago
i use to love dis show when i wuz a kid :)
jrxxx100 6 months ago
Some interesting points have been made in the comments. However, many of you are missing the point: the government does not print money, it prints currency. It does not become money until it is used to facilitate an economic transaction. The more currency printed and introduced into the economy, the less it is worth. Print enough, and you have hyper-inflation (as depicted in the cartoon).
ogrrre 6 months ago
Is it bad that a children's cartoon is smarter than Benny boy and his buddy at the NYT Krugman?
Jebusrulez 6 months ago
lol peter schiff.
IncoherentCommenter 6 months ago
Who ever thought that a kid's cartoon could contain such wisdom.
And why is it lost on so many adults... particularly those in charge.
Hotshotter3000 6 months ago
Dentist: "40,000 for two cavities!" ....patient: "well at least some prizes haven't gone up". I love the sarcasm! hahaaa!
The88Nomad 6 months ago 2
@ShatterState then go kill yourself, and take your dumbass friends w/ you.
leave us alone to be reasonable.
ZamolxisReborn 7 months ago
Capital is the product of labor. You cannot produce fruit before you plant the tree.
Lukeor 7 months ago
well the money itself won't implode but the system that props it up could.
feckingtediousgoogl 7 months ago
ILearnedEverythingI knowAbout life from Ducktales. How to please a woman, the origin of life, how many licks it takes to get to the tootsie roll center of a tootsie pop, how much wood a wood chuck would chuck if it could chuck wood, the meaning of life, why 6 was afraid of 7, who shot mr burns, what it sounds like when one hand is clapping, where carmen san diego isWhatIfGodWasOneOfUs, if a tree falls and no one is around to hear it if it makes a noise,WhatWasInsideMarsellusWallace'sBriefcase
Agoonga 7 months ago
That crazy chicken is teaching the kids about counterfeiting. lol.
Mavericker7 7 months ago
Wow, I remember that episode, but I didn't realize what a cool lesson it was teaching! and it wasn't corny either. It gave me a flashback to a news report in some country were they had to print a $10,000 bill so people could use it to buy simple things like bread.
Metqa 7 months ago
At least this inflation had the production of a Duplicator backing it.
Bernanke just pushes the zero key a bunch of times.
LordDyhalto 7 months ago
@ShatterState
Hi Shinji.
TheSsbcandidates 7 months ago
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Ron Paul Money Bomb! July 19th! Ready Ames Fire! Stop the same establishment trash every four years and get a REAL Constitutionalist in office! wwwdotronpaul2012dotcom End the Fed!
honkycabbit 7 months ago
Everyone should share this video! The Duck Tales theme may increase the chance of newbies to watch it.
soulforged789 7 months ago
Scrooge speaking epic wisdom here.
Lightwolf333 7 months ago
QE3 for the win .. It it didn't worked the last time throw more money at it! Burn baby burn!
JohanKH 7 months ago
Is there nothing we can't learn from looking to Ducktales!?
skittleboy15 7 months ago 20
rofl, awesome video
RKAddict101 7 months ago
In b4 inflation fetishists start complaining that there's no one blowing up like a balloon in this video.
tokiodizneeland1 7 months ago 2
DId this actually air? (I'm sure it did - this's just SERIOUSLY deep for a 'toon about anthropomorphic water fowl.) Truly, Duck Tales of interest.
ScorpiusIncorruptus 8 months ago
@ScorpiusIncorruptus
Well, Ducktales did "invent" raising a sunken ship with ping pong balls.
feckingtediousgoogl 7 months ago
lol at "that'll be 5000 dollars"
plostellum 8 months ago
Wow I'm impressed.
I used to watch Duck Tales as a kid (and remember seeing this episode) and I know a bit about inflation, but this is the first time I've seen it in THIS perspective.
Good job bro!
rahmannoor 8 months ago
So--- a Saturday morning cartoon is smarter than the Federal Reserve?
CaptStormwind 8 months ago 46
@CaptStormwind you are right man.
TheDenknach 2 months ago
How the Fed profits from inflation, and embezzled $8.4 trillion last year, and hid it from Congress is posted at 3w scribd dot com message 49040689 RIP OFF BY FEDERAL RESERVE.
oldereb38 8 months ago
@ShatterState What's stopping you from leaving us? Always look on the bright side of life.
EdMcF1 8 months ago
I hope the prudent Duck with the Scottish accent wasn't meant to be Gordon Brown!
EdMcF1 8 months ago
lol @ government printing counterfeit money
zackhanscom 8 months ago
@zackhanscom not sure if you're being sarcastic or not, but it seems that many people are unable to imagine the government doing anything wrong, and thus incapable of counterfeiting. but what is counterfeiting? in the case of the government (the fed is actually a private bank) not only do they force people with the threat of violence, to use a valueless currency, they continually debase it by expanding the supply which steals purchasing power from those who are forced to use it.
prattleon 8 months ago
@prattleon
A soverigin state is just a type of collective ''over-ownership'', and the government is just a tool the citizens use because they actively vote for it. I'm not defending government counterfeiting but if you're free to leave at any time, no one is ''forcing'' you anymore than a landlord ''forces'' you to pay the rent.
Stockiex02 7 months ago
@Stockiex02 nonsense. the "if you don't like it, then leave" argument is lazy. it assumes that "the government" justly owns everything within their boundaries, which certainly is not the case.
prattleon 7 months ago
@prattleon
How is it more unjust than a private person getting to own accumulated capital from property theft, slavery or other unjust ways of establishing property according to liberal ownership principles? Most people got old accumulated capital like this from one time or another, you probably should do some geneology and research about the stuff you own before taking a moral highground. Do that, get rid of the amount of inherited unjust ownings and capital you've got, *then* complain.
SwedxSimon02 7 months ago
@SwedxSimon02 i did not say anything about more or less unjust. it simply is unjust. hence your argument is flawed. i can only be held responsible for my actions. if someone in my lineage profited unjustly or more likely with my ancestry suffered a great loss due to injustice by others, there is no way to quantify the effects it had on me. there is no such individual called "the government." the government cannot own anything rightly.
prattleon 7 months ago
@prattleon The argument stems from childhood when their asshole parents used the same argument with them.
DoctorCapitalist 3 months ago
how is this any different from a counterfeiter who creates paper money, other than the fact that they at least aren't forcing other to use that currency. the US governement in cahoots with the federal reserve bank is far worse than any counterfeiter.
prattleon 8 months ago 26
hah, awesome job
khallea36 8 months ago
Actually, the Fed's dollars do eventually implode, in the form of a recession.
shamgar001 8 months ago
@ShatterState Maybe your code of morality is just wrong?
shamgar001 8 months ago
@ShatterState yes. So what if it would. Why does that justify our dealth? if we REALLY were selfish, we'd find ways to fix our situation. not destroy our resources.
natritious1 8 months ago
@ShatterState "the plane will be better off without us" you fucking stink looser
natritious1 8 months ago
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rockstarr469 8 months ago
will the US bounce back like argentina did or spiral into the doom of zimbabwe?
garysquirrelreviews 8 months ago
@ShatterState uhhh...???
prattleon 8 months ago 12
There's a much better example on ducktales. It's the land of "tra la la" and the bottle caps used as money. A billion are dumped on the island and they are loved at first, then everything costs more and soon they get arrested for littering.
secretbonus 8 months ago
More money in debt than in circulation...
chibikawaiichris 8 months ago
That voice doesn't fit to Scrooge =/ I imagined an oldest and...you know ... Scrooge voice =D
ekfrasiflowers 9 months ago
i had no idea when i was a kid i was looking into the future thats ufolding now
botorchicken 9 months ago
How does the Fed create money ??
The FRBNY received $8;4 trillion from the auctions of T-securities last year but it is not reported as income. It was profit for the Fed. The Ponzi scheme Fed receives the value of every T-security issued by Congress. Why is this not reported to Congress as required by Title 12, section 247 for a “full report”? Ref. 3w scribd dot com message 49040689 RIP OFF BY THE FEDERAL RESERVE
oldereb38 9 months ago
Is this really a video?
God I hate libertarians.
Joe402 9 months ago
@Joe402 i always get a giggle out of people who take the time to comment without even trying to make a valid argument. it must be painful disagreeing with something without being able to even remotely articulate why you disagree.
prattleon 9 months ago 4
@prattleon
The gold standard is not the answer sorry.
Joe402 9 months ago
@Joe402 I wonder what might have made you jump to the conclusion that i advocate a return to the gold standard. i don't recall ever making such a statement. and again, you might want to try developing arguments rather than assertions.
prattleon 9 months ago
@prattleon
"I wonder what might have made you jump to the conclusion that i advocate a return to the gold standard."
Every time I've read a variant of "end the fed" the gold standard stuff always pops up near it.
What are your thoughts on Keynesian economics?
Joe402 9 months ago
@Joe402 the gold standard is likely a superior monetary system to the federal reserve system, but i would never advocate one particular system. the medium of exchange used for transactions should be decided by the individuals making the transactions, and not imposed on them. this should be done out of ethical considerations as well as practical. the flaws of keynesian economics are becoming more clear everyday through observation. and the real tragedy is that it's forced on everyone.
prattleon 9 months ago
@prattleon explain please
911Dagur 8 months ago
@911Dagur explain what?
prattleon 8 months ago
@prattleon what the flaws of the keynesien economics are? and why the gold standard is superior?
911Dagur 8 months ago
@911Dagur any system that requires people to be forced to used a particular currency, whether it be fiat or precious metals, is unethical, and impractical. keynesian economic assumes that a few people can successfully predict the seemingly infinite decisions of the millions of people within a particular economy. it's also founded on the premise that people will be forced to use a intrinsically worthless currency that will systematically be debased over time. currency should be voluntary.
prattleon 8 months ago
@911Dagur - no, no gold "standard" either, it's a statist / bankster trick. Just let people trade in whatever commodity they wish, with no penalty.
lifesabeachnj 8 months ago
@prattleon I get a giggle out of the political illiterates that misunderstand a central tenet of their contempt for government. The Federal Reserve does not print counterfeit money - or real money for that matter. Only the US Treasury's Bureau of Engraving and Printing can print money (or the Mint for coins). It does set monetary policy, and can increase money supply by purchasing private bank assets, but such actions are lawful and subject to Congressional oversight.
crapcat1980 9 months ago
@crapcat1980 oh geez. i can't tell you how many times people have pointed out that the fed does not actually MAKE the money that it is responsible for willing into existence, as though that makes any difference. and the foolish, it's ok because it's legal argument is a slap in the face to ethics. in other words. slavery was ok when it was legal. tell me what i'm misunderstanding without making assumptions and relying on appeals to authority.
prattleon 9 months ago
@prattleon I get a giggle out of the political illiterates that misunderstand a central tenet of their contempt for government. The Federal Reserve does not print counterfeit money - or real money for that matter. Only the US Treasury's Bureau of Engraving and Printing can print money (or the Mint for coins). It does set monetary policy, and can increase money supply by purchasing private bank assets, but such actions are lawful and subject to Congressional oversight.
crapcat1980 9 months ago
I love how the show just ignores that unlicensed counterfeiting is a felony.
Also, the Federal Reserve doesn't print counterfeit money. Just pointing that out.
lietz13 9 months ago
I wonder if the video creator still feels the same now that Obama is in charge and he's doing this on a greater scale? Still angry about that (rightfully should be) or is this one of those things we are only allowed to be angry at Bush for?
marino3d 9 months ago
@marino3d wonder no more! obama told us everything was ok, so i'm no longer concerned. i'm also very thankful that he ended the wars in the middle east, closed guantanamo, put a stop to that awful patriot act, and all the other wonderful things he said he'd do!
prattleon 9 months ago 3
@prattleon Sarcasm.....my only weakness. How did you know?
marino3d 9 months ago
That 1oz SILVER $1 coin would be worth $36 today. Convert cash to silver today.
TheBullionBoy 9 months ago
87 Marxists are pissed off they can't get their hands on a money duplicator...yet.
TommyHolly1 9 months ago
damn duck tales sucks some serious donkey nuts. back to watching ren n stimpy!
erik4727 9 months ago
check out my New GOT SILVER ? Shirts on ebay
GotSilver100 9 months ago
honestly i wish i would have went back to see this in high school economics. that would have been a good start/boost to the class hahaha
under0ath41 9 months ago
@under0ath41 we watched this today in my economics class
grady8261 9 months ago
so?
which one of them do you think is going to grown to be Gay duck?
I'd say the green one
Oddonan 9 months ago
This is the coolest video I have ever seen!! Im downloading all the episodes of this show and my kids are watching them instead of watching gay muppet couples with herpes adopt muppet children on Sesame Street.
Porojukaha 10 months ago
So what you are saying is basically that you have no idea how the federal reserve or modern economic theory works or applies.
The federal reserve doesn't print money, it conducts open market operations in order to influence interest rates and the supply of money by buying or selling bonds. It's the department of treasury who prints the money.
The reason inflation exists is because an expanding money supply increases GDP and lowers unemployment. It's sound fiscal policy.
milnekevin 10 months ago
@milnekevin oh, you mean the fed doesn't use a duplicating ray gun? how silly of me. i suppose it's my fault for not stating in the description that i don't believe the fed uses a ray gun created by a duck to print money. the issue is not how the physical paper money is printed -- that's superficial. the issue is the expansion of the money supply, and yes, buying bonds is one way the fed does that. and that doesn't make it any better.
prattleon 10 months ago 28
@milnekevin Why is an expanding GDP necessarily good? It stands to reason that if you increase the total money supply that nominal measures of monetary expenditures will rise accordingly, but this tells us nothing about real productive capacity, capital investment, resource allocation etc. As far as lowering unemployment - it matters HOW unemployment gets lowered. If unemployment is lowered by stimulating a sector that is already oversaturated (say, housing), labor and resources will be wasted.
gergenheimer 10 months ago
@milnekevin When people can take out more loans, yes, it can help the economy. However, debt must be paid back eventually, and so when you inflate the economy artificially eventually it must eventually contract that same amount or usually much more. Thats where booms and busts come from. They are not caused by the free market. They are caused by the Fed. Bernanke has even admitted that publicly.
Porojukaha 10 months ago
@Porojukaha I need to respond to this because of how innaccurate it is. It is not disputed that boom and busts happen in the free market. Bernanke never said intervention caused booms and busts. Also taking out loans has very little to do with inflation or quantitative easing. And yes, easing at some point will be followed with tightening, which is why you add money during a recession and decrease as the recession draws to a close in order to make recessions less painful.
milnekevin 10 months ago
@milnekevin you need to learn about how the reserve requirement system in banks really works. That is how QE and bank loans cause inflations and booms and busts. And yes lots of people dispute that booms and busts happen in the free market. in fact, all austrian economists dispute it. Usually because before the great depression we there never was a bust created by the free market in america, nor was there a bubble. There were depressions caused by war, but never by the market
Porojukaha 9 months ago
@milnekevin
"Also taking out loans has very little to do with inflation"
I lived in CA, home prices doubled in 3 years because of loans (made from newly created money/credit). Honestly this was real world inflation of a specific asset class over a very short time created by newly created money pouring into it.
Inflation is driven by Commercial Federal Reserve Banks making Credit "from nowhere" thus increasing the money supply. Its just one more form of inflation (expanded money supply).
woodcreekholdings 9 months ago
@milnekevin If I understand correctly, the Fed was created to shrink the money supply during recessions to help equillibrate quickly, vice versa for booms to limit how large a boom could grow. Also, fractional reserve banking / multiplier effect constitutes huge money supply increases. At 20% reserves the market increases loanable funds by +400%.
xzjatx 9 months ago
@xzjatx Well, not quite. The Fed in its infancy shrank the money supply during a recession, which triggered the bank runs that caused the Great Depression. Theoretically to help stabilize the economy you expand the money supply in a recession and shrink or keep the same in a boom.
Correct about small increases being magnified, although it's really complicated because of accounts they don't apply to (like money markets), velocity of money, etc. The fed takes that into account though (or should).
milnekevin 9 months ago
@milnekevin The great depression has so many 'causes' it would fill volumes.
xzjatx 9 months ago
@milnekevin I should also note that the great depression was caused by the fed and government regulations, and then made even WORSE by those same institutions. Also, the problem with the 20s bank run was caused by government as well.
Porojukaha 9 months ago
@milnekevin Money is a unit of account that measures the lavue of labor and/or services, therefor; expanding the money supply does NOT increase goods produced. Inflation just devalues those units of account since the units used to account the value have been increased. Increasing the money supply is robbing the value of the work and savings the citizens do. Increasing the money supply is another form of taxation and is theft. That's why we have the Constitution to provide sound money w/ gold
residentzombie 9 months ago
@milnekevin in anycase. the interest rates need to go to about 5.5%
anime1973 9 months ago
@anime1973 The Prime Rate to 5.5%? Yea I think I agree with that. At least they need to start raising it now and slowly get up to 5.5%, a low interest rate can only get you so far in my opinion.
milnekevin 9 months ago
make it 155%
MrHoppers002 9 months ago
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espionage84 9 months ago
@milnekevin ignorant much?
espionage84 9 months ago
@milnekevin go read ron pauls books
TRUTHandANSWERS 9 months ago
@milnekevin
But the Federal Reserve has no reserve money. Where do they get the money to buy the bonds.
metaphyiscal 9 months ago
whats the ducktales epi 4 this one?!!? i want to watch the whole thing lol
flowersflame 10 months ago