vandoren

I think that human stupidity is endless. Bonds are credit. What does it mean "created out of nothing"? If you ask me to lend you $100, and you give me an IOU - of course you create your IOU "out of nothing". All we need is an agreement between us. And if I have the money - then no money is created at this point. The reason why budget deficit permanently increases money supply - because governmental net borrowing is always positive, not because of money creation, which does not happen at this moment. PS Please read Marcia Stigum's "MoneyMarket" before posting even more nonsense.

Fascist = communist who understands the human nature a little better.

What it boils down to: Communism - kill he private sector! Fascism - enslave the private sector! Modern liberals - make the private sector a serf! Libertarianism - free the private sector!

What seigniorage would you'll have in the modern financial system? And, as I said before, you don't even need the FED - you can always borrow dollars in the eurodollar market. What many also do. As barn has written above - it's simply easier to use dollars.

I'm saying it's not important what you trade in. I agree with Dylan here.

As if you need US to get dollars. You can as well get dollars on the eurodollar market. And oil market isn't that big anyway. Dollar nominated oil market is ca. $400B/a. Throw in velocity of money and the demand is what, $100B? It's nothing. Especially if you sell your oil and quickly invest your dollars. Then the demand is stable. So, we are speaking about 100-150 billion dollars, much of which are eurodollar. Nothing to see here.

I won't, I have been self-employed, almost my entire life

I live here, you are wrong. At the time in question unions had not the power, and today they are just the usual socialist crap, concerned only with preservation of power.

Marshall plan has done little for Germany, it were just 1.5 billion dollar in loans - really not that much. The real cause was the free market currency reform of 1948 executed by Ludwig Erhard. Add high IQ, hard working population - and the miracle is yours. Just people! All equipment was stolen by Soviets - they still used it in the 1980s, I saw it myself. Make no sense to me.

What Tommy did last year was in no way different from what other media outlets did. For example here:

The first guy is annoying and stupid as hell. Apart of all stupid things he said, does he really think, that 4 years of income plus interest is less than income surplus from his stupid PhD? Unlikely. He's never calculated this, and he should have done standard cost-benefit analysis for both cases.

It wasn't inside the court, it was on the court stairs outside. The last year arrest was as unlawful as the current one.

Traceability is of course also a factor, but banks also lobby against cash because of profit.

It's much simpler actually. Cash is liability to the banks in the accounting sense.

I thought they want to abolish cash...