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This is why, unless the uses for gold increase and there is going to be a genuine shortage of gold to satisfy industrial demand, some, like myself, have never been attracted to gold as a long term investment -- I can understand the lure it manifests for traders where one tries to take advantage...

By "issuing debt", you obviously mean borrowing. I agree. If you think high inflation is coming than this is the time to borrow to the hilt at low fixed rates, if you can. But the folks here want to make a killing trading on their guess that we are headed for double digit inflation. Probably...

It's probably a good idea for you not to get involved personally in the forex markets.

Your sentiment is noble. But a bit wrong headed. Apparently you have recently discovered that there is a an international market for currencies that determines their current relative value one to another, and you've become fixated on that. Somehow you've got the idea that this "forex" market...

Agreed. The result speaks to a general lack of integrity among of GOP politicians. I now see Pompeo as taking over top spot in the short list of the "Most Dangerous Men Alive," displacing both The Donald and Moscow Mitch from top spots on the list. Money will likely be the final arbitrator...

It seems the old GOP is gone, to be replaced by "The Spineless Party." (TSP) They will probably retain the old Brand name on the box, but the contents have become rather indigestible..

That's a good question. When you get the answer please pass it on to me. I can tell you though that a good understanding of money, government finances and banking should be a great help if you are a forex trader. It will also help you understand the unique EU monetary union's problem and what...

I'm not directly interested in this at the moment. Unless you can understand deficits, bonds and so-called "debt" correctly you can't understand how absurd statements regarding paying down the debt, or worries about passing down debt to future generations, etc., are. Most people equate the...

Let me quote from Wray as it expresses what I believe is the correct view. (I'm not inclined to get into a discussion of the forex markets. I'm interested in the more fundamental concepts I have been posting on.) If government spending is 'financed' through creation of fiat money, and if taxes...

No.

Name a single government without government bonds! You might want to re-think what you just wrote. cash-currency whats the difference. Is there going to be anything fundamentally different when we all move to a "cashless society"???

There is a error in your accounting. Although issuing sovereign bonds gives the appearance of borrowing and acquiring debt , for the sovereign, one that uses it's own fiat money!, it isn't what it appears. Your government regularly spends before either issuing corresponding bonds or receiving...

does this mean I don't have to do my tax returns this year? There's got to be an upside to pointlessness... or maybe not?

You may have overlooked its profitability! If you have the right cadence to your voice, the right pitch, and can speak in short simple phrases like "lock her up", "stop the steal'", "get'em outa here" , "Tremendous person", "your a very bad person," "Greatest ever...", "And when they send us...

As a self-proclaimed lawyer you have an unfortunate reading deficit. There is a word in the first sentence of the quote you took from the Fed website. That word is "similarly" . The reason that word is there is because although the structure of the fed branch banks is similar to that of...

The effect of increasing taxes is direct and it's easy to understand, but how the aggregate deficit is affected depends, of course, on what happens to spending. The effect of growing the economy without increasing the deficit commensurately is a little more difficult to grasp. In this case a...

This is the position of economist money experts. Though I would argue taxes are not the only thing that give money value, just the most fundamental thing. Regardless, the arguments that taxes drive value are very compelling. [ cf. , the L R. Wray reference I cited.] The above is not something...

See the post #17 immediately above yours. This will explain why it's hilarious -- in the typical instance at least.

This is hilarious, because modern governments that use fiat currency -- or its equivalent -- do not have "debt" in anything like the traditional meaning of that word! Instead, they have deficits which is the positive difference between the money created and spent into the economy minus the...

This is not how money obtained value. You've but the cart before the horse.