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Author | Topic: Testing The Financial Apologists | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Theodoric Member Posts: 9489 From: Northwest, WI, USA Joined:
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I have tried googling the quote. It does not seem to exist on the internet. Is it a quote from you?
What can be asserted without evidence can also be dismissed without evidence. -Christopher Hitchens Facts don't lie or have an agenda. Facts are just facts "God did it" is not an argument. It is an excuse for intellectual laziness. If your viewpoint has merits and facts to back it up why would you have to lie?
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Phat Member Posts: 18705 From: Denver,Colorado USA Joined: Member Rating: 4.1
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Omni writes: Every asset is currently valued in terms of dollar denomination. Oil, for example is priced at XX$ per barrel. Gold is priced at XXXX$ per ounce. Historically, it has been this way globally since 1944. Between 1944 and 1971, The dollar was baked by gold. Due to deficits being created to fund the war in Viet Nam as well as LBJs Great Society pledge to help lift more of the poor out of poverty, suspicions grew that the US dollar was inflating relative to its gold backing. Since 1971, the US Dollar and virtually all currencies are no allowed to float. Do you save and invest in dollar-denominated funds and accounts? One mistake that many of my critics make is that they see the dollar (as prime Global Reserve Currency) being the yardstick to set the value of every stock and commodity. This is no longer true.The Petro Dollar anchored Oil and the dollar whereas now the Petro Yuan is set to become an alternative standard. Gold (and Oil, notably) set the value of any given currency. The people are at the mercy of commodities.
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Phat Member Posts: 18705 From: Denver,Colorado USA Joined: Member Rating: 4.1
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no it was from a random respondent in the comments section of one of the videos I watch. Certainly not an expert, according to your criteria.
![]() Can you argue with the basic premise, however? (Without having to google Paul Krugman?) Sometimes the obvious is right in front of us. The US main export to the rest of the world in exchange for their goods is US Dollars. Of course, you will make no conclusions without consulting an expert.
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nwr Member Posts: 6488 From: Geneva, Illinois Joined:
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Percy in Message 285 writes: I remain baffled that you're still such a rube for slick videos, that you think insults convey any useful information, and that you can't get basic facts straight. This seems to describe the current Republican party. I guess GOP stands for "Grifters own party"--> -->Fundamentalism - the anti-American, anti-Christian branch of American Christianity <-- <--
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Theodoric Member Posts: 9489 From: Northwest, WI, USA Joined:
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The US did not possess the gold to back all of the dollars in circulation. They never have. You might want to actually look up the actual history of the gold standard and why it no longer exists. Bretton Woods was not an actual gold standard, it was a gold exchange standard.
Where do you get these petrodollars? Can you pay your condo fees with them? Do you really think your gibberish actually said anything? Oh, yes I do know a fair bit about the history of finance and economics. Also, I listen to the experts. Not grifters soaking rubes like you.What can be asserted without evidence can also be dismissed without evidence. -Christopher Hitchens Facts don't lie or have an agenda. Facts are just facts "God did it" is not an argument. It is an excuse for intellectual laziness. If your viewpoint has merits and facts to back it up why would you have to lie?
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Theodoric Member Posts: 9489 From: Northwest, WI, USA Joined: |
It is a stupid comment not based on actual economics. I am not an economist. I find it is better to listen to what the consensus is among experts rather than some random yahoo on the internet.
If you have no idea who Paul Krugman is maybe you should not be opining on economics. What can be asserted without evidence can also be dismissed without evidence. -Christopher Hitchens Facts don't lie or have an agenda. Facts are just facts "God did it" is not an argument. It is an excuse for intellectual laziness. If your viewpoint has merits and facts to back it up why would you have to lie?
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Percy Member Posts: 23127 From: New Hampshire Joined: Member Rating: 5.8
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Theodoric writes: If you have no idea who Paul Krugman is maybe you should not be opining on economics. I guess I'm okay with anyone not knowing who Paul Krugman is. What's important to me is that people know how to seek out credible voices when they need to. People like Phat who are drawn to the crazy voices are very scary. --Percy
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Theodoric Member Posts: 9489 From: Northwest, WI, USA Joined: |
My point is that he should be able to look Krugman up before he responds and realize that Krugman is a legitimate, well-respected economist. My wording was lacking.
What can be asserted without evidence can also be dismissed without evidence. -Christopher Hitchens Facts don't lie or have an agenda. Facts are just facts "God did it" is not an argument. It is an excuse for intellectual laziness. If your viewpoint has merits and facts to back it up why would you have to lie?
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Theodoric Member Posts: 9489 From: Northwest, WI, USA Joined: |
The US main export to the rest of the world in exchange for their goods is US Dollars.
How else do you propose goods be paid for? You do realize that the US govt is not sending the dollars(which are not piles of dollar bills) but US corporations, companies and individuals, do you not? Why are you do so against capitalism and free trade? Are you a communist?What can be asserted without evidence can also be dismissed without evidence. -Christopher Hitchens Facts don't lie or have an agenda. Facts are just facts "God did it" is not an argument. It is an excuse for intellectual laziness. If your viewpoint has merits and facts to back it up why would you have to lie?
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Percy Member Posts: 23127 From: New Hampshire Joined: Member Rating: 5.8
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Theodoric writes: My point is that he should be able to look Krugman up before he responds and realize that Krugman is a legitimate, well-respected economist. My wording was lacking. You're wording was fine. It just isn't in him to do that. There's almost nothing that he actually knows. All he can do is regurgitate what other people say that he doesn't understand but who sound good to him based upon no actual criteria other than it appeals to him, who knows why. Whim? Fancy? Nice graphics? Engaging voice? Emotional appeal? One common quality among people who are fun to discuss with is that they know what they don't know. Phat has no idea what he doesn't know and has the kind of full confidence bred by ignorance. --Percy
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Phat Member Posts: 18705 From: Denver,Colorado USA Joined: Member Rating: 4.1
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I'm talking about trade deficits. Do you think that a US Corporation, Company, or individual belong to the US Government? When we buy all of that cheap crap from China that fills our local Walmart's, what does China get from us? And to push the issue further, do we really want to give China our best brainpower?
You DO realize that China is now the sleeping giant. They copy from us, convince us that it is an equitable exchange, and in the while build up their military for the day they retake Taiwan, become capable of sinking any and all US Carriers, all the while their oppressed people(yes, they are communists) wait patiently for the day when our system collapses while theirs finally is able to pay its middle class what they are worth. Global competition is becoming more and more ruthless as the finite resources of this planet are up for grabs. As for your comment that the gold was inadequate to back the dollar, the gold at that time was worth $35.00-$50.00 an ounce. FDR raised the price from $20.00 to $35.00. Why couldnt Nixon have raised the price to reflect the times we were in? (Oh wait....they did. Gerald Ford made it legal to own gold again in 2004 and the price reached $800.00+ for a short time. Meanwhile the fiat currencies of the world all floated relative to the value of the dollar. Those days are nearly over. You guys can crow all you want about how, under Biden, the US dollar is strong, but im here to tell you that it is a paper tiger. And don't whine and blame the GOP for holding the debt ceiling hostage. They simply want to remind everybody that you cant borrow forever. The current administration is playing an international game of politics with the US Dollar that may backfire right in their face.
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Phat Member Posts: 18705 From: Denver,Colorado USA Joined: Member Rating: 4.1
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Percy:Thanks for your vote of confidence! I admit to being ignorant about a lot of things, but I find no dishonor in speculation. You guys are the scared ones in that you run around seeking a real expert to reassure you that the sky is not falling and neither is the economy. Good luck with that.
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xongsmith Member Posts: 2641 From: massachusetts US Joined: Member Rating: 5.9
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what a totally fucked view...
you think Theodoric was sayingPhat writes: Corporations belong to the US Government? and
all the while their oppressed people(yes, they are communists) wait patiently for the day when our system collapses while theirs finally is able to pay its middle class what they are worth. why would the CCP ever pay them what they're worth? and
And don't whine and blame the GOP for holding the debt ceiling hostage. They simply want to remind everybody that you cant borrow forever. no they dont. if they did they would have told Trump to stop his shit. all they want is something to paint the Dems bad for rubes like you, so enough of you will vote to re-elect their criminal buddies. the current administration is fighting a swarm of vicious, cruel Terrorists within the USA known as Republicans. and you poke holes in Biden not aware of the damage you do, to the glee of the Terrorist Republicans."I'm the Grim Reaper now, Mitch. Step aside." Death to #TzarVladimirtheCondemned! Enjoy every sandwich! - xongsmith, 5.7dawkins scale
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Theodoric Member Posts: 9489 From: Northwest, WI, USA Joined: |
I tried to read your screed but I don't read gibberish. As is typical you did not address the questions I posed. Maybe you are incapable.
Are you having another breakdown? A manic episode? I think you need help. What can be asserted without evidence can also be dismissed without evidence. -Christopher Hitchens Facts don't lie or have an agenda. Facts are just facts "God did it" is not an argument. It is an excuse for intellectual laziness. If your viewpoint has merits and facts to back it up why would you have to lie?
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Percy Member Posts: 23127 From: New Hampshire Joined: Member Rating: 5.8 |
Phat writes: You guys are the scared ones in that you run around seeking a real expert to reassure you that the sky is not falling and neither is the economy. Good luck with that. You can't even cast aspersions accurately. --Percy
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