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Fake money

May 14, 2013

One of this country’s Founding Fathers, Thomas Jefferson, said it best: “If we determine that the dollar shall be our unit, we must then say with precision what a dollar is....

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(46)

WKnapp

May-17-13 12:25 AM

$1 = $1 $1 = $1 (2013) $1 = $1 (1937) $1 (1937) = $16 (2013) $1 (2013) = $.06253 (1937) $15 (1937) = $239.50 (2013) This is increasing value?

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JerryfromRI

May-16-13 7:02 PM

No, different.

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JerryfromRI

May-16-13 6:26 PM

@Bobbie2

A lil more than three times.

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CHayes

May-16-13 5:04 PM

I respectfully disagree Erdman. In a truly free market, any commodity is worth exactly what people will pay for it, and currency is most certainly a commodity.

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CHayes

May-16-13 5:01 PM

"No wonder you have time to defend scum here all day, to stupid to get a job."

In the next 30 days boobie, I'll quite possible make more money than you will in the next 6 months. Through both the business I recently started, and the 50-60 hour a week day job I have.

Do you have some sort of brain damage?

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Erdman

May-16-13 2:26 PM

CHayes: I agree with your assessment that a dollar can technically be measured daily. But as I mentioned, it is a "discretionary" measurement, not a hard definition (see article).

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CHayes

May-16-13 12:53 PM

"Financial genius are ya?"

Apparently more so than you, though it doesn't really take a genius to figure out that if a dollar today will buy about 3 times as many Japanese Yen than it would in 1965, that the dollar currently has about 3 times more value against the Yen than it did in 1965.

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CHayes

May-16-13 12:39 PM

Thanks for answering my question boobie. You've made it clear that you actually thought that the numbers you posted indicated that the Yen has grown in value more than the Dollar since the mid 60's, because you're an idiot.

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JerryfromRI

May-16-13 11:09 AM

Tell me, Jerr the liberal dolt, how much additional money is in your paycheck today vs 9/2008?

--

I'm actually doing pretty well Bobbie2, thanks for asking.

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CHayes

May-16-13 12:24 AM

The point of my post was that the dollar has an actual value that can be measured daily.

So can you explain the point of your post comparing the exchange rate for dollars to yen at some moment in 1965, and today?

And you do understand that the values of currencies fluctuate daily, and exchange rates aren't the same on Jan 1st and Dec 1st of any given year, right?

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CHayes

May-16-13 12:19 AM

"102.31 Japanese Yen for $1 2013

360 Japanese Yen for $1 1965"

yeah boobie, the Dollar has risen considerably in comparison to the Yen since 1965. So what?

I'm going to take a guess that you thought the numbers you posted, that are apparently gibberish to you, indicated that the dollar has fallen compared to the Yen since 1965.

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CHayes

May-15-13 7:24 PM

"There is no hard definition what the dollar is worth, it is simply legal tender"

That's simply not true. A dollar is a commodity, and is worth exactly what people are willing to pay for it in other currencies. Those rates can be viewed on Google minute to minute, 24/7. For example, as I type this, a dollar is woth exactly:

29.77 Thai Bhat

12.23 Mexican Peso

0.66 British Pound

102.31 Japanese Yen

6.15 Chinese Yuan....

and so forth.

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JerryfromRI

May-15-13 4:28 PM

The point not discussed is that the "new" money is not chasing any goods. Hence, no increased inflation.

Just changing the digits in the bank account balance doesn't cause inflation.

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CMReeder

May-15-13 12:27 PM

Still you ignore facts USABorn you dwell in unproven conspiracies.

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USABorn

May-15-13 12:18 PM

CMReeder - 10:41 AM

"Still throwing your feces Bobbie. Like most of the right you can't stand facts."

Judging from the dis-information of your comments in other LTE's today, you wouldn't know a fact if it up and bit you on the nose!

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CMReeder

May-15-13 10:41 AM

Still throwing your feces Bobbie. Like most of the right you can't stand facts.

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CMReeder

May-15-13 9:05 AM

"The gold standard era was not a stable era. If anything it was more unstable than the current era. There were regular financial panics and recessions in the years 1857, 1873, 1884, 1893, 1896, 1907, 1921, 1930-3. The gold standard leads to a more, not less, unstable economy."

It could also lead to deflation which is worse than inflation.

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CMReeder

May-15-13 7:45 AM

It is very apparent the right knows very little about money.

Government sets the gold standard. They control it.

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CMReeder

May-15-13 7:40 AM

I see Bobbie is talking out her other orifice.

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JerryfromRI

May-14-13 8:46 PM

Bobbie says I am wrong and Eric says I am right, so I will let you two fight it out. Let me know.

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eriklatranyi

May-14-13 7:22 PM

Jerry:

You are 100% correct that inflation requires too much money chasing too few goods.

The Federal Reserve is printing $85 billion per month to prop up the economy.

They have kept most out of the main money supply and in the hand of banks and other financial institutions.

Unfortunately, they have used some to buy stocks and make the market look good. Many companies have decided to sit on their money rather than spend it, so it stays out of the general economy.

Now, if companies start spending or if we see a cascade collapse of economies....all that money will rush into the economy and we will see inflation.

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JerryfromRI

May-14-13 6:17 PM

"There was massive inflation... "

--

Are you sure about that? You might want to double check that one.

And for you Fed watchers out there, have you forgotten that for inflation to occur, too much money must chase too few goods?

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philunderwood

May-14-13 4:16 PM

When more money is added to the economy it lessens its value. Tricks like government buying its own debt and other manipulations can only hold off the inevitable for a time. Sooner or later we’ll all pay the price, literally.

One thing that helps the dollar is the fact that the rest of the world is in worse shape and a collapse of the dollar would devastate the entire world economy.

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eriklatranyi

May-14-13 4:08 PM

ProPublica is a progressive group.

They just came out and admitted that the IRS gave them detailed information on Tea Party groups.

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eriklatranyi

May-14-13 4:06 PM

Mr. Reeder is correct that hyperinflation tends to take place in a total collapse situation.

However, printing money makes hyperinflation far easier.

Investing that printed money into the stock market, makes a collapse more plausible.

Now, add in a gov't that has wiretapped the media, launched IRS investigations into conservative and Jewish groups, abandoned a homosexual Ambassador to be savagely murdered in a nation where the President involved us without authority, and now, a reporter who dared ask President Obama about "lavish" vacations has been battling the IRS since that interview.

Now, you set the stage for a collapse.

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