Germany must be forced out of the Euro Monetary Union.

[piezoe]

because he is evading critical and especially detailed exchange in the exact same way than Tsingtao just on the other end of the spectrum.

Of course there is no difference between real money printing and bond buying by the central bank, in terms of effect. Both increase the money supply in circulation and both stimulate the economy. We can argue what the results are of such stimuli but fact is that both increase the money supply. Whats not to understand about this? It is extremely frustrating to argue with those two because they approach to debate is the same as someone wanting to establish a fair value of a stock and arguing his case by citing the brand of the laser printer in the CEO's office, omitting there are about 2,000,000 other more relevant variables to consider.

"Of course there is no difference between real money printing and bond buying by the central bank, in terms of effect.

This is something you are categorically incorrect about. But I am avoiding being bated into a long pointless discussion with those who have already filled their heads with incorrect information and will refuse to avail themselves of the copious correct information that is available to them. If I engage in this kind of discussion, I will be confronted with quotes of Bernanke saying that "essentially" they were "printing", and as I have already said, ad nauseum, it is common for economists to refer to quantitative easing as printing, despite all professional economists understanding the huge difference between actual printing (what Germany, Zimbabwe, and Australia did) and what the U.S. Fed did and what the ECB is doing.) The effect of actual printing and quantitative easing are in fact vastly different. This is a topic covered in every basic text on economics.

By the way. When in a serious forum, the Senate Banking Committee, one of the Senators indicated that the Fed was printing, Bernanke was very quick to correct him. "I'm NOT printing," he said.

We can have a discussion re the merits of the Austrian school versus Keynesian economics, if you like, because that is a matter somewhat of opinion. It seems you subscribe more or less to Austrian School economics, whereas I am most assuredly in favor of Keynesian economics in most situations that confront us today. We can't debate, however, whether the effect of quantitative easing and money printing is the same. That would be like trying to debate whether the sun comes up in the East!

 

[volpunter]

lol, this is my any account the most pathetic excuse in this thread so far. Even Tsingtao has not beaten you to it (yet). But then we are only on page 14 so far...

There is a long discussion here in ET re the difference. It is also treated in every basic economics text in the chapter on central banking, and you can find the information you seek with a few mouse clicks on the internet. This is a thread re whether Germany or the PIGS should leave the EU.

 

[Tsing Tao]

lol, this is my any account the most pathetic excuse in this thread so far. Even Tsingtao has not beaten you to it (yet). But then we are only on page 14 so far...

See? I just let your own content speak for itself.

 

[volpunter]

yes, that is precisely what Tsingtao believes. He thinks Greece will be propped up by Russia or China or both and goes about Tourism and all will be fine. Sweet little redneck back-in-the-forest wherever he is from kind of thinking...

If Germany left the EU, France and the UK would be 2 seconds behind them.

And then the PIGS could continue to run any deficit they choose, default on the balance of all outstanding sovereign debt obligations, and history tells us how that story ends.

The PIGS might be able to borrow money from China, but does anyone sincerely believe that China would be more forgiving or flexible than Germany ? Seriously.

 

[piezoe]

you still didn't answer the question concerning what is the difference between printing money and bond buying by a central bank. you can dance all you want with your responses but when it comes to a factual answer you fade.

does anybody see a difference?

I'm going to do you a huge favor, though I don't know why. You certainly don't deserve it.

Right now, put your hand on your mouse, move to the link below and click on it.

http://www.bloomberg.com/bw/articles/2013-11-12/what-billionaire-ray-dalio-gets-wrong-about-money

 

[volpunter]

at least its my own not a cheap copy/paste job, even the cheapest journalists do better than you champ...

See? I just let your own content speak for itself.

 

[Tsing Tao]

yes, that is precisely what Tsingtao believes. He thinks Greece will be propped up by Russia or China or both and goes about Tourism and all will be fine. Sweet little redneck back-in-the-forest wherever he is from kind of thinking...

You're quite obsessed with me!

What I've said before (100s of times) is that Greece leaving the EU and returning to the Drachma would be horrible in the short term - lots of pain. In the end (it would take some time to unwind the last 15 years of EU involvement) the Greeks would be back to where they were before. With inflation, tourism, on their own and living life the way they had for hundreds of years before there ever was such a thing as the EU.

The painful time, however, would be gut wrenching. But it's going to happen, regardless of any plans to save it. "What cannot be paid back, won't."

 

[Tsing Tao]

at least its my own not a cheap copy/paste job, even the cheapest journalists do better than you champ...

Yes, your own insult - devoid of anything but bile - not copy/pasted. Well done!

 

[volpunter]

too comical. So you hang your belief on what Bernanke is saying in his own defense? Hilarious.

"Of course there is no difference between real money printing and bond buying by the central bank, in terms of effect.

This is something you are categorically incorrect about. But I am avoiding being bated into a long pointless discussion with those who have already filled their heads with incorrect information and will refuse to avail themselves of the copious correct information that is available to them. If I engage in this kind of discussion, I will be confronted with quotes of Bernanke saying that "essentially" they were "printing", and as I have already said, ad nauseum, it is common for economists to refer to quantitative easing as printing, despite all professional economists understanding the huge difference between actual printing (what Germany, Zimbabwe, and Australia did) and what the U.S. Fed did and what the ECB is doing.) The effect of actual printing and quantitative easing are in fact vastly different. This is a topic covered in every basic text on economics.

By the way. When in a serious forum, the Senate Banking Committee, one of the Senators indicated that the Fed was printing, Bernanke was very quick to correct him. "I'm NOT printing," he said.

We can have a discussion re the merits of the Austrian school versus Keynesian economics, if you like, because that is a matter somewhat of opinion. It seems you subscribe more or less to Austrian School economics, whereas I am most assuredly in favor of Keynesian economics in most situations that confront us today. We can't debate, however, whether the effect of quantitative easing and money printing is the same. That would be like trying to debate whether the sun comes up in the East!

 

[oldnemesis]

https://en.wikipedia.org/wiki/Quantitative_easing (and 'printing money')