tag:blogger.com,1999:blog-2761684730989137546.post7485272764449359669..comments2024-03-28T04:13:36.779-04:00Comments on Mike Norman Economics: Zero Hedge — Kolanovic: There Is A "Profound" Danger To The Dollar's Reserve Statusmike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-2761684730989137546.post-51484520279075249172018-09-27T10:45:34.433-04:002018-09-27T10:45:34.433-04:00“stupidity?”
It’s simply the libertarian thesis w...“stupidity?”<br /><br />It’s simply the libertarian thesis within the dialectical context... libertarians do not support this type of system...Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-76208282240273860282018-09-27T10:07:27.919-04:002018-09-27T10:07:27.919-04:00The Bank of International Settlement’s Claudio Bor...<a href="https://www.nakedcapitalism.com/2018/09/bank-international-settlements-claudio-borio-warned-crisis-says-world-economy-get-sick.html" rel="nofollow">The Bank of International Settlement’s Claudio Borio, Who Warned About the Crisis, Says the World Economy Is About to Get Very Sick </a><br /><br />Negative interest is mentioned in the first comment and is pilloried when it need not affect ordinary depositors at all - IF all citizens had, like they should be able to have, checking/debit accounts at the Central Bank itself FOR FREE up to reasonable limits on account size and transactions per month.Andrew Andersonhttps://www.blogger.com/profile/14296407661618321637noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-67602147404025262312018-09-26T17:48:27.377-04:002018-09-26T17:48:27.377-04:00Fiat funny money. Fiat funny money. Fiat funny mon...Fiat funny money. Fiat funny money. Fiat funny money.<br />Fiat funny money. Fiat funny money. Fiat funny money.<br /><br />Is this a result of Parkinson's disease, or schizophrenia, or Tourette syndrome, or OCD, or just plain <b>stupidity?</b><br /><br />You decide.Konradhttps://www.blogger.com/profile/01739209449391854796noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-23208291300182594292018-09-26T17:23:57.082-04:002018-09-26T17:23:57.082-04:00Taxes are based on force regardless of what fiat i...Taxes are based on force regardless of what fiat is made of. If you want to avoid prison or loss of property for failure to pay taxes you need fiat, be it ever so inexpensive. <br /><br />But you may say, "I should be able to use anything for private debts" and so you should but fiat has an inescapable advantage over private money forms since those can be taxed in fiat. But then you may say "There should be no taxes on private money forms" but that's as much as saying that there should be no taxes on anything since anything could conceivably be a private money form.Andrew Andersonhttps://www.blogger.com/profile/14296407661618321637noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-78907671547600849592018-09-26T17:01:17.872-04:002018-09-26T17:01:17.872-04:00Of course, the value of fiat is less than it could...Of course, the value of fiat is less than it could be because only the banks, etc. in the private sector may even use fiat except for coins and bills - so the demand for fiat is artificially suppressed.<br /><br />That made sense when fiat was expensive as when it was made or backed by gold but makes no sense now when fiat is near cost-less in safe, convenient account form at the Central Bank.Andrew Andersonhttps://www.blogger.com/profile/14296407661618321637noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-77835806000787953122018-09-26T17:00:40.856-04:002018-09-26T17:00:40.856-04:00If fiat funny money wasn't inherently worthles...If fiat funny money wasn't inherently worthless, the government wouldn't threaten violence against you to make you use it.Bob Roddishttps://www.blogger.com/profile/17263804608074597937noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-86468607184048411372018-09-26T16:44:40.743-04:002018-09-26T16:44:40.743-04:00"exchange of natural resources and labor for ...<i> "exchange of natural resources and labor for inherently worthless fiat currency,"</i> zerohedge<br /><br />Fiat is not inherently worthless; it can be needlessly expensive or practically cost-free but as long as fiat can pay debts, including taxes, fiat has value.Andrew Andersonhttps://www.blogger.com/profile/14296407661618321637noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-88066835583712121612018-09-26T15:25:37.989-04:002018-09-26T15:25:37.989-04:00Agree ... It’s the ideal scenario Ryan....Agree ... It’s the ideal scenario Ryan....Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-70783932804861780842018-09-26T12:36:10.133-04:002018-09-26T12:36:10.133-04:00It would be the best thing to ever happen to the U...It would be the best thing to ever happen to the United States. Would reduce fiscal space, lower 2.5% CAD to less than 1% and reduce rent seeking by foreigners in our financial markets. It would boost domestic employment. It would reduce US hegemony and end our participation in endless wars. Hard to imagine a more beneficial change. Of course, when it's convenient, Economists prefer to think in terms of maximizing so called real benefits for an imaginary econo man, so economists will universally decry the tragedy by pretending war, debt, wealth transfers don't matter because the consumer is basking in real benefits. Ryan Harrishttps://www.blogger.com/profile/04815033054435303399noreply@blogger.com