Do not be stupid and believe this false metaphor, use your brains folks! ... fight!
Video below from CNBC today with James Grant providing the latest false metaphor about a platinum coin:
According to James Grant here, the ability of the U.S. government to issue a $1T platinum coin is "an urban legend".... This is embarrassing. Hey James, one whom many would consider the foremost constitutional lawyer in the country says otherwise.
Then Grant proceeds to enlighten us in stating that U.S. Treasury Secretary is "not the Secretary of the Treasury, but is the Secretary of Debt". Again embarrassing. Take a look below here Jimbo, read it and weep (remember a balance sheet has two sides Jim!):
|
Then, to top it off he proceeds to do his best Alan Simpson impersonation and babel on incomprehensibly about the number 16 x 10 ^12 and various numerical comparisons of this number which have no relevance to a rational discussion about the finances of our federal government.
I can't watch anymore! Hey CNBC where is the rational balanced reporting? For how long do these people have to be wrong before your brain realizes they HAVE NEVER BEEN CORRECT?
Sober up!
5 comments:
I think it might be useful to create a "USD savings clock" with two parts:
1. domestic USD savings
2. foreign USD savings
if that's even possible
y,
or 3 parts with the 3rd being the 7B or 8B part that the govt itself holds...
I'll look into it... I may need Trixie's help ;) (she created this 'ticker' a while back)
rsp,
No, Matt, we need to put total US Assets $93 trillion and Assets Per Citizen $295k. Those are the metrics that need to be put out there.
Paging:
Dr. Matt Franko to emergency please...
patient with severe trauma to cortex in the form of tumor completely displacing mathematical maturity section ...
bring operating tool kit ... now ... urgent ... patient in obvious agony...
The scum bag bankers have lowered and held interest rates at zero percent and they are killing my pension fund here in the REAL WORLD. We had to give back and cut back on our PRIVATE PENSION FUND, and not some blood sucking gubbament hand out work 4 hour a day and go on disablity scam.
Savings my ass! Take your useless meanlingless bullshit numbers both debt and savings clock and get real. The Fed is doing its handy work well as we speak. Zero interest environment and destroy savings, now another insider LEW who said when being interviewed by congress that de-regulation of banks was not the cause of the housing bust? He is right, not enforcing the regulations was the reason, and the financial committee asswipes didnnot do their jobs to protect the WELFARE of the people. Throw all the bums out and reverse the power grab by the Federal Reserve act.
Post a Comment