Moderators ThudMaker Posted February 3, 2009 Moderators Share Posted February 3, 2009 That has nothing to do with the money supply or the monetary base. Or your checking account. And btw, when you pay your bills, it goes into someone else's bank account, not into circulation as currency. It has to do with how much you can put into a savings account. And when I pay my mortgage into a company that's trying to cover bad mortgage debts, they ain't putting anything away, either. Link to comment Share on other sites More sharing options...
Members bbl Posted February 3, 2009 Members Share Posted February 3, 2009 My point is that Glenn Beck is tracking the monetary base, which is only one component of the money supply. Not only is it just one component, it's the smallest component. However, it's still very alarming. Here's something I found: http://findarticles.com/p/articles/mi_m1568/is_8_40/ai_n31160554/pg_1?tag=content;col1 Link to comment Share on other sites More sharing options...
Moderators ThudMaker Posted February 3, 2009 Moderators Share Posted February 3, 2009 My point is that Glenn Beck is tracking the monetary base, which is only one component of the money supply. Not only is it just one component, it's the smallest component.However, it's still very alarming. Here's something I found:http://findarticles.com/p/articles/mi_m1568/is_8_40/ai_n31160554/pg_1?tag=content;col1That's a good find. Did you happen to take a look at the PDF I linked earlier. I think you'll find it interesting. It's a study of some Latin American countries and the economic issues they struggled with. The article itself isn't current, but the governmental policies and analysis were a good read. Link to comment Share on other sites More sharing options...
Members bbl Posted February 3, 2009 Members Share Posted February 3, 2009 It has to do with how much you can put into a savings account. And when I pay my mortgage into a company that's trying to cover bad mortgage debts, they ain't putting anything away, either. And in none of your cases is physical currency being exchanged or increased. Your money is transferred for your demand account to your creditor's demand account. And when they pay their creditor... You seem to be hung up on "savings" accounts and forgetting about demand accounts. At any rate, physical currency is a very small fraction of the money supply, savings and money market accounts make up a good chunk of the money supply, and this economic environment doesn't change that. Link to comment Share on other sites More sharing options...
Members bbl Posted February 3, 2009 Members Share Posted February 3, 2009 That's a good find. Did you happen to take a look at the PDF I linked earlier. I think you'll find it interesting. It's a study of some Latin American countries and the economic issues they struggled with. The article itself isn't current, but the governmental policies and analysis were a good read. I skimmed thru it. It's heavy! Inflation/deflation is always a potential problem on the horizon, and price instability is not good. Well, that's not always true. Inflation reduces the real value of a debtor's obligations. While the price of milk may skyrocket, your mortgage, and the national debt, don't. Link to comment Share on other sites More sharing options...
Moderators ThudMaker Posted February 3, 2009 Moderators Share Posted February 3, 2009 You seem to be hung up on "savings" accounts and forgetting about demand accounts. At any rate, physical currency is a very small fraction of the money supply, savings and money market accounts make up a good chunk of the money supply, and this economic environment doesn't change that.I think you're confusing money supply with money base and currency in circulation. You're discussing currency in circulation issues, which doesn't represent how much the Fed is sitting on, which still devalues the dollar if they print a metric crap ton. Link to comment Share on other sites More sharing options...
Members bbl Posted February 3, 2009 Members Share Posted February 3, 2009 My point is that Glenn Beck is tracking the monetary base, which is only one component of the money supply. Not only is it just one component, it's the smallest component. And I think you mean "monetary base," not "money base and currency in circulation." The monetary base includes physical currency. The money supply is one driver of prices. But Beck's chart shows just one small component of the money supply, the monetary base. As in "if I show you one component of what economists look at, I can show you a hockey stick so long I've got to get into my AlGore machine to track it the world is ending tell everyone you know go to my website glennbeck.com or see my on youtube!" If we look at the money supply, the recent increase doesn't look like armageddon on huge chart. But it also doesn't make good TV, bring in advertisers, or make good thread topics. However, it's still a concern and, imo, something we need to keep an eye on. Link to comment Share on other sites More sharing options...
Moderators ThudMaker Posted February 3, 2009 Moderators Share Posted February 3, 2009 Uh... Exactly. Link to comment Share on other sites More sharing options...
Moderators isaac42 Posted February 3, 2009 Moderators Share Posted February 3, 2009 Nope. Didn't even try.If you're not aware that there's a problem you probably shouldn't participate in the discussion. :poke: I'm aware of lots of problems. Link to comment Share on other sites More sharing options...
Moderators isaac42 Posted February 3, 2009 Moderators Share Posted February 3, 2009 I think you're confusing money supply with money base and currency in circulation. You're discussing currency in circulation issues, which doesn't represent how much the Fed is sitting on, which still devalues the dollar if they print a metric crap ton. The Fed doesn't print money. Link to comment Share on other sites More sharing options...
Moderators isaac42 Posted February 3, 2009 Moderators Share Posted February 3, 2009 Paper money is printed by the Bureau of Engraving and Printing, not the mint as I had previously thought and stated. Link to comment Share on other sites More sharing options...
Members ec437 Posted February 3, 2009 Members Share Posted February 3, 2009 Ya'll are boring. Link to comment Share on other sites More sharing options...
Moderators ThudMaker Posted February 3, 2009 Moderators Share Posted February 3, 2009 The Fed doesn't print money.Straight from your link. . . . . The Bureau of Engraving and Printing (B.E.P.) is a government agency within the United States Department of the Treasury that designs and produces a variety of security products for the United States Government, most notable of which is paper currency for the Federal Reserve. . . . . .If the Fed doesn't want it, the Bureau isn't printing it. Link to comment Share on other sites More sharing options...
Members King Kashue Posted February 4, 2009 Members Share Posted February 4, 2009 No, he's implying that most Americans are living paycheck to paycheck, with little cash at all. I tend to agree, based on the fact that the first sign of this downturn was so many defaulted loans....you lose your job or suffer any serious financial hit, and don't have substantial (at least 6mo) cash on hand, your house is gone. For years, Americans on average have had a negative savings rate... It's one of the hallmarks of an economy that cannot sustain itself. Link to comment Share on other sites More sharing options...
Members Jugghaid Posted February 4, 2009 Members Share Posted February 4, 2009 For years, Americans on average have had a negative savings rate...It's one of the hallmarks of an economy that cannot sustain itself. Yup. Very scary too. our economy could very well go straightin the dumper because of it. And I don't mean in the dumper like we are now, I'm talking about many times WORSE than we are now. Link to comment Share on other sites More sharing options...
Moderators isaac42 Posted February 4, 2009 Moderators Share Posted February 4, 2009 Straight from your link. . . . . The Bureau of Engraving and Printing (B.E.P.) is a government agency within the United States Department of the Treasury that designs and produces a variety of security products for the United States Government, most notable of which is paper currency for the Federal Reserve. . . . . .If the Fed doesn't want it, the Bureau isn't printing it. Yup, saw that. I don't know whether or not your interpretation is correct, but I stand by my statement: the Fed does not print money. Link to comment Share on other sites More sharing options...
Members bbl Posted February 4, 2009 Members Share Posted February 4, 2009 Yup, saw that. I don't know whether or not your interpretation is correct, but I stand by my statement: the Fed does not print money. Congratulations. Now, does your statement weaken Thud's claim? Or are you just nitpicking? I read a lot of HCBF threads, but I've never seen this much useless nitpicking and hair splitting in one thread. Link to comment Share on other sites More sharing options...
Members georgestrings Posted February 4, 2009 Members Share Posted February 4, 2009 I could explain again, but it wouldn't change anything. I'd be saying the same thing, and you'd have the same objections. If I throw money down a rathole, that's a direct drain on my finances. If I'm still taking in money from other sources that exceeds the amount I'm throwing down the rathole, that means that my net worth might be increasing, but it doesn't change the fact that the money I threw down the rathole was a direct drain in my finances. Wars are like ratholes. If the US's finances improved during times of war, it doesn't change the fact that wars are ratholes. You haven't actually "explained" anything - 1st you sidestepped, now you're goalpost moving... Not exactly exemplary behavior for a moderator, but totally predictable when a liberal talking point doesn't withstand scrutiny... "To a greater extent than any other situation I can think of, foreign wars deplete the treasury and the nation's wealth directly." Those were your exact words - and I pointed out that historically, they haven't been true regarding the US... Spin all you want, I don't care... - georgestrings Link to comment Share on other sites More sharing options...
Members max maroon Posted February 4, 2009 Members Share Posted February 4, 2009 Congratulations. Now, does your statement weaken Thud's claim? Or are you just nitpicking? I read a lot of HCBF threads, but I've never seen this much useless nitpicking and hair splitting in one thread. [sarcasm/] Seriously?!? I haven't noticed any nitpicking in this thread[/sarcasm] Link to comment Share on other sites More sharing options...
Moderators isaac42 Posted February 4, 2009 Moderators Share Posted February 4, 2009 Congratulations. Now, does your statement weaken Thud's claim? Or are you just nitpicking? I read a lot of HCBF threads, but I've never seen this much useless nitpicking and hair splitting in one thread. At first, I thought the mint printed the money. I thought they were completely separate. Now, I'm just nitpicking! Link to comment Share on other sites More sharing options...
Members chunky-b Posted February 4, 2009 Members Share Posted February 4, 2009 We have to do something with 500 million Americans losing jobs... [YOUTUBE]x8hMJVXt09E[/YOUTUBE] Link to comment Share on other sites More sharing options...
CMS Author Craig Vecchione Posted February 4, 2009 CMS Author Share Posted February 4, 2009 You haven't actually "explained" anything - 1st you sidestepped, now you're goalpost moving... Not exactly exemplary behavior for a moderator, but totally predictable when a liberal talking point doesn't withstand scrutiny... Since when are mods expected to debate any differently than anyone else? We're just members who volunteer to babysit. Link to comment Share on other sites More sharing options...
Members wades_keys Posted February 4, 2009 Members Share Posted February 4, 2009 Since when are mods expected to debate any differently than anyone else? We're just members who volunteer to babysit. You are gods.... Link to comment Share on other sites More sharing options...
CMS Author Craig Vecchione Posted February 4, 2009 CMS Author Share Posted February 4, 2009 You didn't know we were importing Americans from China just for this purpose? Link to comment Share on other sites More sharing options...
CMS Author Craig Vecchione Posted February 4, 2009 CMS Author Share Posted February 4, 2009 You are gods.... We are SPARTA!!!!!:mad: Link to comment Share on other sites More sharing options...
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