Understanding through Discussion


Welcome! You are not logged in. [ Login ]
EvC Forum active members: 69 (9101 total)
5 online now:
Newest Member: sensei
Upcoming Birthdays: AlexCaledin
Post Volume: Total: 904,092 Year: 973/14,231 Month: 973/1,514 Week: 6/234 Day: 6/36 Hour: 0/1


Thread  Details

Email This Thread
Newer Topic | Older Topic
  
Author Topic:   Phat's Bookshelf
Phat
Member
Posts: 17008
From: Denver,Colorado USA
Joined: 12-30-2003
Member Rating: 1.0


Message 1 of 174 (903763)
12-16-2022 12:15 PM


Renaming this topic so as to include *all* my books
Another book...
From Intro:
Central banking is magic. With a few words, the Fed can lift the stock market out of desperation and catapult it towards euphoric highs. With a few keystrokes, the Fed can conjure up trillions of dollars and fund virtually unlimited Federal spending. And with a few poor decisions, the Fed can plunge the entire world into a recession. The Federal Reserve is one of the most powerful institutions in the world, and also one of the most difficult to understand.
The Fed acts through its Open Markets Desk, which sits at the heart of the global financial system as the world’s ultimate and limitless provider of dollars. On behalf of policymakers, the Desk gathers market intelligence from all the major market participants, sifts through reams of internal data, and works behind the scenes to keep the financial system intact. It is responsible for all of the Fed's market operations, from trillions in quantitative easing to hundreds of billions in repo and FX-swap loans. The financial crises of 2008 and 2020 abated only through the emergency interventions of the Desk.

Stay tuned...

Replies to this message:
 Message 2 by ringo, posted 12-16-2022 12:31 PM Phat has replied

  
ringo
Member
Posts: 20793
From: frozen wasteland
Joined: 03-23-2005
Member Rating: 2.4


(2)
Message 2 of 174 (903768)
12-16-2022 12:31 PM
Reply to: Message 1 by Phat
12-16-2022 12:15 PM


Instead of starting forty new topics, why don't you answer the multitude of rebuttals in existing topics?

Come all of you cowboys all over this land,
I'll teach you the law of the Ranger's Command:
To hold a six shooter, and never to run
As long as there's bullets in both of your guns.
-- Woody Guthrie

This message is a reply to:
 Message 1 by Phat, posted 12-16-2022 12:15 PM Phat has replied

Replies to this message:
 Message 3 by Phat, posted 12-18-2022 11:11 AM ringo has replied

  
Phat
Member
Posts: 17008
From: Denver,Colorado USA
Joined: 12-30-2003
Member Rating: 1.0


Message 3 of 174 (903907)
12-18-2022 11:11 AM
Reply to: Message 2 by ringo
12-16-2022 12:31 PM


Videos, Books, and Propaganda
First of all, it takes me time to address arguments. I need to hear arguments articulated in a disciplined format, such as a book can offer. Critics will say that the "Book" could be propaganda, but what would we rather have? An authoritarian regime that burns books for the "good of the people"?
dead ringer ringo writes:
Instead of starting forty new topics, why don't you answer the multitude of rebuttals in existing topics?
I am using the Book Nook to address each book that I actually read. Critics previously lambasted me for getting my information from YouTube videos. One of God's gifts that he has given me is the ability to read, and that's what I am doing. In fact, I have two new books to add to the list as soon as I finish them.
I do note your point about answering previous rebuttals. In fact, as I look around the Book Nook, I even have several book topics which I never finished!
I will attempt to address your endless stream of rebuttals but don't expect me to believe that your evidence in any way defines reality. If nothing else, I will challenge the "woke" culture and show them how asleep they really are.

This message is a reply to:
 Message 2 by ringo, posted 12-16-2022 12:31 PM ringo has replied

Replies to this message:
 Message 5 by ringo, posted 12-19-2022 12:08 PM Phat has replied

  
Phat
Member
Posts: 17008
From: Denver,Colorado USA
Joined: 12-30-2003
Member Rating: 1.0


Message 4 of 174 (903939)
12-19-2022 9:54 AM


A Rabbit Trail down memory lane
Glen Beck has a new book out which I have listened to on Audible. Critics likely will dismiss him as "conservative propaganda" but I am unsure what does and does not constitute propaganda of either ideology.
According to "Alexa", Glenn Beck is affiliated with the independent Conservatives.

  
ringo
Member
Posts: 20793
From: frozen wasteland
Joined: 03-23-2005
Member Rating: 2.4


Message 5 of 174 (903958)
12-19-2022 12:08 PM
Reply to: Message 3 by Phat
12-18-2022 11:11 AM


Re: Videos, Books, and Propaganda
Phat writes:
First of all, it takes me time to address arguments.
But you're not addressing rebuttals at all. You're charging ahead to create new topics where you will inevitably just repeat the same old nonsense that has already been addressed.
You're just diluting your nonsense by repeating it in so many tthreads. Stick to one topic and carry it through to the end.
Phat writes:
I need to hear arguments articulated in a disciplined format, such as a book can offer.
Are you saying that my posts are not articulated in a disciplined format?
Phat writes:
Critics will say that the "Book" could be propaganda, but what would we rather have? An authoritarian regime that burns books for the "good of the people"?
Nobody is suggesting burning books.
What I'm saying is read the books and then discuss them.
Phat writes:
I am using the Book Nook to address each book that I actually read.
But you're NOT addressing them. That's my whole point.
Phat writes:
Critics previously lambasted me for getting my information from YouTube videos.
But you're treating the books the same way you treat YouTube - as absolute truth with no room for discussion. If you were actually thinking about the content, you should be able to discuss the rebuttals.
Phat writes:
... don't expect me to believe that your evidence in any way defines reality.
Evidence DOES define reality, in EVERY way. Whether you believe that or not is irrelevant.
Phat writes:
If nothing else, I will challenge the "woke" culture and show them how asleep they really are.
By all means, DO that. SHOW us.

Come all of you cowboys all over this land,
I'll teach you the law of the Ranger's Command:
To hold a six shooter, and never to run
As long as there's bullets in both of your guns.
-- Woody Guthrie

This message is a reply to:
 Message 3 by Phat, posted 12-18-2022 11:11 AM Phat has replied

Replies to this message:
 Message 6 by Phat, posted 12-22-2022 5:14 AM ringo has replied
 Message 66 by Phat, posted 12-27-2022 7:11 AM ringo has replied

  
Phat
Member
Posts: 17008
From: Denver,Colorado USA
Joined: 12-30-2003
Member Rating: 1.0


Message 6 of 174 (904113)
12-22-2022 5:14 AM
Reply to: Message 5 by ringo
12-19-2022 12:08 PM


Re: Videos, Books, and Propaganda
Critics previously lambasted me for getting my information from YouTube videos.
ringo writes:
But you're treating the books the same way you treat YouTube - as absolute truth with no room for discussion. If you were actually thinking about the content, you should be able to discuss the rebuttals.
This is a perfect case in point.
Much lower standard of living coming for Americans.
​Even though everyone was introduced to jars Source vs Content argument, there is a double standard. Schiff (the source) essentially argues, through the content (of the video) that the private sector will have to save the financial system nationally if not globally since the governments all inflated and thus debased the currency and are thus charging the public too much to utilize their product.The argument is well done and well presented. Too many people look to the government as the final authority of valuing money, for example. The counter argument, one which I wholeheartedly agree with and embrace, is that the people (private sector) and the marketplace should determine the value of a product. Hard assets provide a concrete value that data and hypothesis cannot nor should not provide.
Period.

This message is a reply to:
 Message 5 by ringo, posted 12-19-2022 12:08 PM ringo has replied

Replies to this message:
 Message 7 by Theodoric, posted 12-22-2022 10:19 AM Phat has replied
 Message 8 by nwr, posted 12-22-2022 10:20 AM Phat has replied
 Message 9 by ringo, posted 12-22-2022 11:58 AM Phat has replied
 Message 10 by Taq, posted 12-22-2022 12:04 PM Phat has replied

  
Theodoric
Member
Posts: 8070
From: Northwest, WI, USA
Joined: 08-15-2005
Member Rating: 2.4


Message 7 of 174 (904126)
12-22-2022 10:19 AM
Reply to: Message 6 by Phat
12-22-2022 5:14 AM


Re: Videos, Books, and Propaganda
You cannot even stay on topic on your own topics. How about you take a break and come back when you can concentrate on one or two of the OPs you started.
BTW, the government does not provide a product.

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?


This message is a reply to:
 Message 6 by Phat, posted 12-22-2022 5:14 AM Phat has replied

Replies to this message:
 Message 68 by Phat, posted 12-27-2022 7:20 AM Theodoric has replied

  
nwr
Member
Posts: 6226
From: Geneva, Illinois
Joined: 08-08-2005
Member Rating: 3.6


(4)
Message 8 of 174 (904127)
12-22-2022 10:20 AM
Reply to: Message 6 by Phat
12-22-2022 5:14 AM


Re: Videos, Books, and Propaganda
I watched about 1 minute. I'm not going to watch the whole thing.
Schiff (the source) essentially argues, through the content (of the video) that the private sector will have to save the financial system nationally if not globally since the governments all inflated and thus debased the currency and are thus charging the public too much to utilize their product.
Bullshit.
The private sector has been buying politicians, particularly Republicans, to enable them to rip of the American workers. Those workers are as productive as ever, but most of what they have produced has been going to the top.
No, the wealthy won't have to save America. Rather, Americans will need to take back those ill gotten gains from the wealthy thieves.
As Percy said in a recent post, you are confused and gullible. You worship the thieves who are ripping you off.

Fundamentalism - the anti-American, anti-Christian branch of American Christianity

This message is a reply to:
 Message 6 by Phat, posted 12-22-2022 5:14 AM Phat has replied

Replies to this message:
 Message 69 by Phat, posted 12-27-2022 7:22 AM nwr has seen this message but not replied

  
ringo
Member
Posts: 20793
From: frozen wasteland
Joined: 03-23-2005
Member Rating: 2.4


Message 9 of 174 (904148)
12-22-2022 11:58 AM
Reply to: Message 6 by Phat
12-22-2022 5:14 AM


Re: Videos, Books, and Propaganda
Phat writes:
Critics previously lambasted me for getting my information from YouTube videos.
Phat writes:
But you're treating the books the same way you treat YouTube - as absolute truth with no room for discussion. If you were actually thinking about the content, you should be able to discuss the rebuttals.
This is a perfect case in point.
How is it a case in point? You're still not addressing any rebuttals.

Come all of you cowboys all over this land,
I'll teach you the law of the Ranger's Command:
To hold a six shooter, and never to run
As long as there's bullets in both of your guns.
-- Woody Guthrie

This message is a reply to:
 Message 6 by Phat, posted 12-22-2022 5:14 AM Phat has replied

Replies to this message:
 Message 70 by Phat, posted 12-27-2022 7:25 AM ringo has replied

  
Taq
Member
Posts: 9284
Joined: 03-06-2009
Member Rating: 3.1


(1)
Message 10 of 174 (904149)
12-22-2022 12:04 PM
Reply to: Message 6 by Phat
12-22-2022 5:14 AM


Re: Videos, Books, and Propaganda
Phat writes:
Too many people look to the government as the final authority of valuing money, for example. The counter argument, one which I wholeheartedly agree with and embrace, is that the people (private sector) and the marketplace should determine the value of a product.
Who thinks the US government sets the value of the dollar????
It is rather obvious that the marketplace already sets the values of products, and it does so in whatever currency is legal tender in their country. International markets also determine the relative value of currencies.

This message is a reply to:
 Message 6 by Phat, posted 12-22-2022 5:14 AM Phat has replied

Replies to this message:
 Message 11 by Phat, posted 12-22-2022 1:41 PM Taq has replied
 Message 15 by Phat, posted 12-22-2022 4:53 PM Taq has replied
 Message 71 by Phat, posted 12-27-2022 7:29 AM Taq has not replied

  
Phat
Member
Posts: 17008
From: Denver,Colorado USA
Joined: 12-30-2003
Member Rating: 1.0


Message 11 of 174 (904152)
12-22-2022 1:41 PM
Reply to: Message 10 by Taq
12-22-2022 12:04 PM


Re: Videos, Books, and Propaganda
This whole book on Central Banking 101 does not even mention gold. I am convinced (so far, anyway) that the Central Banks want to promote digital currency and data/ethereal value based on the whim of the people rather than hard assets, which are in fact the bottom line. Anyone who doubts the bedrock value of hard assets (Land, Gold, Copper, Nickel, Oil, Natural Gas, etc) need only ask Europe what they think as they shiver this Winter.
This is what the book *does* mention:
Section 1-Money and Banking
  • Central Bank Reserves
  • Bank Deposits
  • Treasuries
  • Fiat Currency
  • Common Questions- (which I will elaborate on)
    Why don't banks lend out their reserves?
    Will the stock market soar because of all the cash on the sidelines?
    Fascinating theories and hypothetical situations! (and so pie-in-the-sky)
    Everyone in global finance knows that Gold still backs the Central Banks. If not, why would they bother to own it?

  • This message is a reply to:
     Message 10 by Taq, posted 12-22-2022 12:04 PM Taq has replied

    Replies to this message:
     Message 12 by Taq, posted 12-22-2022 1:45 PM Phat has replied
     Message 13 by Theodoric, posted 12-22-2022 1:52 PM Phat has replied
     Message 25 by ringo, posted 12-23-2022 10:56 AM Phat has seen this message but not replied
     Message 27 by AZPaul3, posted 12-23-2022 11:25 AM Phat has replied

      
    Taq
    Member
    Posts: 9284
    Joined: 03-06-2009
    Member Rating: 3.1


    (5)
    Message 12 of 174 (904153)
    12-22-2022 1:45 PM
    Reply to: Message 11 by Phat
    12-22-2022 1:41 PM


    Re: Videos, Books, and Propaganda
    Phat writes:
    I am convinced (so far, anyway) that the Central Banks want to promote digital currency and data/ethereal value based on the whim of the people rather than hard assets, which are in fact the bottom line.
    Almost all of my transactions are already digital, so I fail to see the problem. Why would it matter if we pay with a debit card instead of with physical paper money?
    I have also never paid for something with hard assets. Strangely enough, the local grocery store does not accept pork bellies as payment for milk. They also don't accept gold bars. As it turns out, one of the nice features of hard assets is that you can trade them for dollars in a digital transaction.

    This message is a reply to:
     Message 11 by Phat, posted 12-22-2022 1:41 PM Phat has replied

    Replies to this message:
     Message 72 by Phat, posted 12-27-2022 7:34 AM Taq has not replied

      
    Theodoric
    Member
    Posts: 8070
    From: Northwest, WI, USA
    Joined: 08-15-2005
    Member Rating: 2.4


    Message 13 of 174 (904154)
    12-22-2022 1:52 PM
    Reply to: Message 11 by Phat
    12-22-2022 1:41 PM


    Re: Videos, Books, and Propaganda
    WTF?
    Anyone who doubts the bedrock value of hard assets (Land, Gold, Copper, Nickel, Oil, Natural Gas, etc) need only ask Europe what they think as they shiver this Winter.
    What is this sentence trying to say? At best it is a non-sequitur at worst word salad.

    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?


    This message is a reply to:
     Message 11 by Phat, posted 12-22-2022 1:41 PM Phat has replied

    Replies to this message:
     Message 16 by Phat, posted 12-22-2022 5:00 PM Theodoric has replied
     Message 73 by Phat, posted 12-27-2022 7:41 AM Theodoric has not replied

      
    Taq
    Member
    Posts: 9284
    Joined: 03-06-2009
    Member Rating: 3.1


    Message 14 of 174 (904160)
    12-22-2022 4:25 PM


    Benefits of Fiat Currency
    One of the YouTube channels I do enjoy is Economics Explained. The difference here is that the videos are made by a real economist who also happens to be an Aussie. I don't know if those two things cancel each other out (just a bit of ribbing between countries), but it is a pretty good way of learning basic economics, at least in my experience.
    Based on those videos and some other reading, fiat currencies seem to be much better than asset based currencies (e.g. gold backed). First, a modern economy can only grow as fast as the available cash grows. This means our country's GDP could only grow as fast as the amount of gold that is dug up from the ground. That makes no sense. A zero sum, mercantile type of economy just doesn't work anymore. Second, a country has no control over world wide assets. It does have control of its own currency. This allows countries to influence markets in a way that benefits its citizens (hopefully). This is where quantitative easing comes in as a way of reducing the impact of recessions while trading it in for higher inflation. It also allows a country to aim for beneficial inflation rates, about 1-3% per year.
    It is sort of like the weather. Right now, we have no control over the weather. We just have to take what comes. If we could have some influence over weather, wouldn't that be beneficial? That's what modern central banking is. It's a way of having influence over the comings and goings of the economy, something that would be difficult to do with asset based currencies.

    Replies to this message:
     Message 74 by Phat, posted 12-27-2022 7:49 AM Taq has not replied

      
    Phat
    Member
    Posts: 17008
    From: Denver,Colorado USA
    Joined: 12-30-2003
    Member Rating: 1.0


    Message 15 of 174 (904161)
    12-22-2022 4:53 PM
    Reply to: Message 10 by Taq
    12-22-2022 12:04 PM


    Re: Videos, Books, and Propaganda
    You guys are learning slowly.
    Taq writes:
    International markets also determine the relative value of currencies
    Remember what Nixon did in 1971?

    This message is a reply to:
     Message 10 by Taq, posted 12-22-2022 12:04 PM Taq has replied

    Replies to this message:
     Message 19 by Taq, posted 12-22-2022 5:23 PM Phat has seen this message but not replied

      
    Newer Topic | Older Topic
    Jump to:


    Copyright 2001-2022 by EvC Forum, All Rights Reserved

    ™ Version 4.1
    Innovative software from Qwixotic © 2023