What can " U.S." learn from European austerity?

[helheim]

Well freeing yourself from wage slavery involves leaving the civilized world behind. If you want to do that, be my guest. There are no other options.

quite the contrary. it simply means not playing the 'money game'.

you must seem to think that i am some sort of lowbie myopic impotent despot or something. i'm sitting on seven figures worth of property. i too run my own business. i've simply taken the time to enlighten myself as to the way that fractional reserve banking essentially controls everything that happens in our country and therefor our government. i do however try my best to avoid things like trading debt, and using big banks, etc.

i don't need to segregate myself from society as a whole to adopt an ideology that my non-compliance with a system i disagree with means total isolation.

[Laize]

quite the contrary. it simply means not playing the 'money game'.

you must seem to think that i am some sort of lowbie myopic impotent despot or something. i'm sitting on seven figures worth of property. i too run my own business. i've simply taken the time to enlighten myself as to the way that fractional reserve banking essentially controls everything that happens in our country and therefor our government. i do however try my best to avoid things like trading debt, and using big banks, etc.

i don't need to segregate myself from society as a whole to adopt an ideology that my non-compliance with a system i disagree with means total isolation.

I'm well aware of how FRB works. I also have absolutely no problem with it. Also FRB has nothing to do with wage slavery...

[helheim]

I'm well aware of how FRB works. I also have absolutely no problem with it. Also FRB has nothing to do with wage slavery...

we have to agree to disagree on that.

i guess i'll have to be the bigger man here, and exit this conversation first. it seems you are bent on trying to convert me to your way of thinking, and that simply won't happen.

[Grizzly Willy]

quite the contrary. it simply means not playing the 'money game'.

you must seem to think that i am some sort of lowbie myopic impotent despot or something. i'm sitting on seven figures worth of property. i too run my own business. i've simply taken the time to enlighten myself as to the way that fractional reserve banking essentially controls everything that happens in our country and therefor our government. i do however try my best to avoid things like trading debt, and using big banks, etc.

i don't need to segregate myself from society as a whole to adopt an ideology that my non-compliance with a system i disagree with means total isolation.

Could we see what businesses you guys claim to run? I see people like you, Laize, and Aurust claiming to own businesses, and I would be interested in seeing some actually proof of that.

[vetinari]

Ugh...I really don't know where you get your ideas.

The federal government does not tax money to take it out of circulation. Where did you get that idea?! The only way money can leave the system is through the federal reserve selling off securities on its balance sheet and retiring the dollars it received. Alternately, people could start taking their money out of banks and stuffing it in mattresses and the money supply would shrink. take note that the last time the money supply shrank in this fashion it did so by about 3% and caused the insolvency of banks that led to great depression. So yeah... Can't purposely shrink the money supply by much without causing problems. Not without selling securities.

I understand full well that we have a fiat currency. However the fed does not simply create piles of new money every year. Just because the government borrows does not mean it borrows from the federal reserve. In fact, it borrows from people, businesses and other countries.

Also T-Bills are Not reserves held by banks at the fed. T bills are US debt obligations that have maturities of less than one year.

Please I'm DYING to know where you've been fed so much misinformation.

---------- Post added 2012-05-12 at 11:50 AM ----------



By that logic EVERYONE is a wage slave. However my need for income is neither total nor immediate.

/sigh

Yes it does. Taxation takes money out of (private sector) circulation the exact same way that printing money puts money into circulation. The other way of taking money out of circulation, is offering term deposits at the federal government's bank. These term deposits are also called t-bills or t-bonds. That is how the damn things actually function.

New money is created every single time the federal government spends money. That money is destroyed every time it receives taxes.

As for where I learned this? Working for the Reserve Bank of Australia. You think you understand the monetary system. You don't. What you believe are deliberate lies that are told to keep politicians from going crazy at pork barrel. Think about what politicians would be doing if they actually knew that federal fiscal policy is not revenue constrained.

[helheim]

Could we see what businesses you guys claim to run? I see people like you, Laize, and Aurust claiming to own businesses, and I would be interested in seeing some actually proof of that.

computer repair*, security and consulting. been doing it since 96. i don't need to provide "proof" of anything on a gaming forum. you can choose to accept that, or not. i honestly don't care either way.

*for clarity, hardware level repair, data recovery, etc.

[talentconnected]

We're learning some information wrong lessons from Europe's budget battles.

[Shadee]

The U.S. doesn't need to learn anything from Europe. We are #1 in pretty much everything that matters.

- economy (many of our cities have bigger economies than entire countries)
- reserve currency
- military
- arms exports
- medical research
- technological innovation
- artificial intelligence
- robotics
- entertainment
- wealth per citizen
- aerospace and aviation
- Olympic sports
- higher education
- charitable giving
- food production
- oil and gas production
- nuclear power output
- wilderness preservation
- cosmetic surgery


Plus many more. If anything, other countries need to learn from us because we are obviously doing something correct here.

[Citizen T]

Please do not necro threads from years ago. closing now...