The only bit I didn't get was that the seller of the bonds supplies the money to buy the bonds. The government gives someone money to buy the bonds off it? Who? On what terms?
How do you think ‘money’ enters our economic system in the first place?
its made in South Wales, if they want more they just make more. Unfortunately therein lies inflation and currency depreciation but hey ho, quantitative easing etc ftw
Doesn’t money enter the economy because value is created then sold and to buy the new value, give has to issue more money which in turn is funded by debt (one way or another)
What is value? And why is value attached to something issued by a group that majority of us don't agree with? Just convenience? How did something which is just a convenient way to swap stuff become more important than the work of a person?
is an hours worth of labour a standard unit of value? If so, should we not be trading in labour hour ious rather than this random pound thing? I'd place an hours worth of my gardeners time well ahead of an hours worth of a lawyers time.
and next, on Marxism Live, we have an investigation into capitalism!
Keynesian economists are always trying to claim that government borrowing is not the same as private borrowing
In fact the government bonds are now owned by Central Banks who printed money to pay for them
These extra bank notes have not up to now caused inflation because New York bankers fraud destroyed 3 trillion of world savings which the Bank notes are replacing through quantitative easing
0
0
Yes of course it does and it simply adds credibility to the fact that money is in fact entirely an illusion created by governments.
0
0
No, oversimplified gibberish to me.
0
0
samesies
0
0
The only bit I didn't get was that the seller of the bonds supplies the money to buy the bonds. The government gives someone money to buy the bonds off it? Who? On what terms?
0
0
How do you think ‘money’ enters our economic system in the first place?
its made in South Wales, if they want more they just make more. Unfortunately therein lies inflation and currency depreciation but hey ho, quantitative easing etc ftw
0
0
The seller of the bonds is the govnt which also issues the dollars (to buy the bonds) is what she means.
so, you buy something from me and to pay for it you give me an iou i issued to you some time in the past.
And what you have bought gets you even more of these iou’s to be used in the future to buy even more iou’s from me or from someone else.
fvck me kt was quite a heavy weekend.
0
0
Doesn’t money enter the economy because value is created then sold and to buy the new value, give has to issue more money which in turn is funded by debt (one way or another)
0
0
Govt
0
0
I thought money is created when someone mines new Bitcoins? ?
btw Clergs are you still hanging on to yours?
0
0
What is value? And why is value attached to something issued by a group that majority of us don't agree with? Just convenience? How did something which is just a convenient way to swap stuff become more important than the work of a person?
is an hours worth of labour a standard unit of value? If so, should we not be trading in labour hour ious rather than this random pound thing? I'd place an hours worth of my gardeners time well ahead of an hours worth of a lawyers time.
and next, on Marxism Live, we have an investigation into capitalism!
0
0
Keynesian economists are always trying to claim that government borrowing is not the same as private borrowing
In fact the government bonds are now owned by Central Banks who printed money to pay for them
These extra bank notes have not up to now caused inflation because New York bankers fraud destroyed 3 trillion of world savings which the Bank notes are replacing through quantitative easing
Join the discussion