tag:blogger.com,1999:blog-2761684730989137546.post127927102050608104..comments2024-03-29T02:19:19.866-04:00Comments on Mike Norman Economics: Ambrse Evans-Pritchard — UN fears third leg of the global financial crisis - with prospect of epic debt defaults mike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger16125tag:blogger.com,1999:blog-2761684730989137546.post-27404388143213501642016-09-23T07:27:48.030-04:002016-09-23T07:27:48.030-04:00Stock and dividends are a debt of the company.Stock and dividends are a debt of the company.WillORNGhttps://www.blogger.com/profile/03759801640058517521noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-41767797067381459132016-09-23T07:27:39.068-04:002016-09-23T07:27:39.068-04:00Stock and dividends are a debt of the company.Stock and dividends are a debt of the company.WillORNGhttps://www.blogger.com/profile/03759801640058517521noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-81813923247194208172016-09-23T07:01:12.239-04:002016-09-23T07:01:12.239-04:00since the value of shares constantly fluctuate. R...<i>since the value of shares constantly fluctuate. </i> Ralph<br /><br />No doubt government subsidies for private credit creation contribute to the volatility.Andrew Andersonhttps://www.blogger.com/profile/14296407661618321637noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-63171924966710804892016-09-23T05:36:40.447-04:002016-09-23T05:36:40.447-04:00Andrew, Common stock is a very poor form of money ...Andrew, Common stock is a very poor form of money surely, since the value of shares constantly fluctuate. What people want from money is something that purchases exactly the same basket of goods in a year's time as it does today (ignoring inflation).Ralph Musgravehttps://www.blogger.com/profile/09443857766263185665noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-47362812163220805432016-09-22T21:24:52.347-04:002016-09-22T21:24:52.347-04:00http://www.nationalreview.com/article/424927/hilla...http://www.nationalreview.com/article/424927/hillary-clinton-secret-service-treatment-abuse<br /><br />Promote to post please.Randomhttps://www.blogger.com/profile/04445772572707818311noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-21622758788549075602016-09-22T21:15:39.350-04:002016-09-22T21:15:39.350-04:00Use common stocks or shiny rocks, what's the d...Use common stocks or shiny rocks, what's the difference to the US government?<br /><br />Rhetorical -- as there is no difference.<br /><br />Carry on your whole life bartering it makes no never mind to the Federal governments of the world's nations. <br /><br />The bartering challenge should be obvious, although, there are both corporate and personal barter organizations claiming to help. <br /><br />TPTB simply employ the concept of "imputed income" and apply those imputed amounts to the current taxation laws. In the case of the argument for common stock - simply research the consequences of employee compensation packages.<br /><br />The result of that tax liability calculation is of course payable <b>only</b> in the local currency (unit) of account. <br /><br />In the case of the US, the US dollar. Chickens, common stock, shiny rocks, crypto-currencies, preferred stock, bonds, works of art, etc. are not US dollars.<br /><br />Even those who have accumulated personal assets without any visible means of support, eventually have to convert their assets to US dollars to satisfy the man. <br /><br />If not the Treasury will step in and offer assistance.<br /><br /><b>IRS Auction - Main Menu - US Department of the Treasury</b><br />https://www.treasury.gov/services/Pages/auctions_index.aspxAnonymoushttps://www.blogger.com/profile/11462699745242698272noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-16210476816412186932016-09-22T20:32:06.117-04:002016-09-22T20:32:06.117-04:00This comment has been removed by the author.Ryan Harrishttps://www.blogger.com/profile/04815033054435303399noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-45679543087207651032016-09-22T19:26:03.996-04:002016-09-22T19:26:03.996-04:00Better to waver than be sent to the guillotine.Better to waver than be sent to the guillotine.Peter Panhttps://www.blogger.com/profile/09473311771939167712noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-82171200998104398872016-09-22T17:05:48.277-04:002016-09-22T17:05:48.277-04:00Yes, tax laws would have to be changed, no doubt. ...Yes, tax laws would have to be changed, no doubt. Still, in theory, common stock is a perfectly valid endogenous money form that does not require debt, except fiat for tax purposes.<br /><br />Not that we necessarily even need endogenous money beyond that which 100% private banks with 100% voluntary depositors can create but if we do then common stock is a possibility.Andrew Andersonhttps://www.blogger.com/profile/14296407661618321637noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-88237258796792364082016-09-22T16:45:55.641-04:002016-09-22T16:45:55.641-04:00Except common stock can itself be used to buy the ...<i>Except common stock can itself be used to buy the goods and services a company produces - completely bypassing the need for bank credit or fiat except for the need to pay taxes.</i><br /><br /><br />Exactly where can one exchange common stock for real goods without selling the stock and purchasing the real goods in markets?<br /><br />And no matter how the exchange takes place, it is subject to taxation in the US. IRS and state revenue agencies maintain tight surveillance over such attempts to avoid taxation, as some acquaintances have discovered to their surprise.Tom Hickeyhttps://www.blogger.com/profile/08454222098667643650noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-79351544779399157212016-09-22T16:41:07.252-04:002016-09-22T16:41:07.252-04:00Except common stock can itself be used to buy the ...Except common stock can itself be used to buy the goods and services a company produces - completely bypassing the need for bank credit or fiat except for the need to pay taxes.Andrew Andersonhttps://www.blogger.com/profile/14296407661618321637noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-37756419648382674562016-09-22T16:34:23.439-04:002016-09-22T16:34:23.439-04:00This comment has been removed by the author.Andrew Andersonhttps://www.blogger.com/profile/14296407661618321637noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-75800761710522725902016-09-22T16:30:24.584-04:002016-09-22T16:30:24.584-04:00This comment has been removed by the author.Andrew Andersonhttps://www.blogger.com/profile/14296407661618321637noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-42451818214672181752016-09-22T16:24:12.766-04:002016-09-22T16:24:12.766-04:00Financial capital ultimately traces its source to ...Financial capital ultimately traces its source to money and money comes either from private sector borrowing with concomitant deposit creation or issuance of government tax credits through government spending and transfers. <br /><br />Private debts must be repaid with deposits or from cash in circulation. <br /><br />Government tax credits are future obligations of the government to accept the liabilities it issues in payment of obligations it creates. When taxes are paid the tax credit gets cancelled. <br /><br />Non-monetary financial assets are derivatives of money (unit of account) and can be exchanged for money.<br />Tom Hickeyhttps://www.blogger.com/profile/08454222098667643650noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-8998464798363675452016-09-22T15:32:05.894-04:002016-09-22T15:32:05.894-04:00A fascinating article. A fascinating article. Kaiveyhttps://www.blogger.com/profile/04195639305785321786noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-74987476240313767732016-09-22T15:29:47.658-04:002016-09-22T15:29:47.658-04:00The problem is that financial capital is debt-base...<i>The problem is that financial capital is debt-based,</i><br /><br />Equity based capital is an alternative but why should those with equity "share" it when government subsidized private credit creation allows those with equity to use it for the basis for loans of what is, in essence, the public's credit but for private gain?Andrew Andersonhttps://www.blogger.com/profile/14296407661618321637noreply@blogger.com