My response to comments on Fed "money printing"

In this video I respond to negative comments on a previous post where I say that since the Fed extraordinary actions ("money printing") the dollar has gone up. To say this hasn't been the case is to ignore the truth.

Category:

News & Politics

Tags:

• MMT
• Mike Norman
• money printing
• currency debasement
• dollar
• Fed

[TWSceptic]

This guy is clueless, don't listen to him.

[chrisbeer]

I guess the obvious comparison that was omitted here was the dollar vs gold. I'm not even sure what the results of the comparison are but I find it a little fishy that it wasn't included in this summary.

[jhwendland]

@chrisbeer Where is gold money?

[Anastrodamus]

I agree with this guy. FInally someone that makes sense on youtube.

[chrisbeer]

Mortgageangel I think you fail to grasp the fact that dollars are currency and gold is money

[mortgageangel9]

Since the dollar is no longer pegged to gold (since 1971) this point is mute and therefore not fishy.

[mortgageangel9]

Mike's correct!

Whenever you find you are on the side of the majority it's time to pause and reflect. ~Mark Twain

[MrRickyw01]

Polemics aside.. does he have a printing press. If more of something is available, the less it must worth intrinsically. If I put a $20 dollar gold coin in a box and simultaneously put a $20 dollar bill in a box in 1920, then removed it today what would i have? I know the answer, 2,000,000 jobs saved or created..since the last presidential election. I know that people getting checks for not working would have a much higher self esteem if they were working and supporting their families.

[kennjohnsen]

This alpha dog of the masses, is as usual deceptive. All currencies are depreciating in value, so this dollar index does not mean a thing, other than the dollar are following the race to the bottom.

[AmericanPolemic]

Mike is correct. The reality is, government doesn't have to "borrow" anything to finance it's operations. The National "debt" is simply an accounting construct, which is a legacy left over from the gold standard days. In reality, the government creates money and spends it first, and then taxes and borrows it back as a means of maintaining dollar value stability. If the US was really "borrowing", then our debt would be denominated in Chinese Yuan or Japanese Yen etc., not our own fiat currency.

[MrRickyw01]

does mike doggy have a printing press in his home? we should all have a printing press in our basement. Keynesian colleague(russian spy) gave US Treasury dollar printing plates to russia and they printed our money at the end of WWII, when we still had tons and tons of precious metals. Keynesian colleague later committed suicide, so they say....Where is critical thinking going? Let our politicians keep kicking the can down the road. John Maynard K hurt the poor.

[wallstreetatheist]

He tans too much and thinks too little.