Credit Where Credit is Due: a shout out thread for Things Trump Did Right

[Swammerdami]

SHOW us ONE sentence I got wrong. Be specific.

Here's two:
Go ahead and view FedRes as a branch of USG if that floats your boat. It doesn't matter.
FedRes NEVER issues "fiat money."

First I ask you. What OTHER type(s) of money do you recognize besides "fiat money"?

1. The first sentence agrees with you that FedRes can be viewed as part of USG. Then points out that it doesn't matter. Or, more specifically, that it is often clarifying to treat FedRes as an independent bank. (Just like the Bank of England was and other early central banks -- they have special charters but keep books just like an ordinary bank). Indeed it was your insistence on viewing FedRes as "only" a non-independent branch of USG that led to your confused statements and misconceptions.

2. I should have written "FedRes never CREATES "fiat money" but the effect is the same. When the FedRes sells banknotes to Members, nobody's balance totals change. Money is not created. When the FedRes buys or sells bonds from/to a bank its balance sheet changes but none of M1, M2, M3 change.

Only when the FedRes buys bonds from a non-bank does M1 etc. increase -- money is "created." (When FedRes sells bonds to a non-bank M1 etc. decrease -- money is destructed. You seem to insist that the M1 increase when bonds are purchased from a non-bank is "fiat money." I explained -- in some detail -- why it is better thought of as "bank-created money." The confused claims in this sub-thread only INCREASE my belief that this distinction helps avoid confusion.

Private banks which buy bonds from U.S. Treasury create money ("bank-created money") when they do so, but that has nothing to do with FedRes. See how it works? Private banks create money (by buying bonds or funding other borrowers) and that money is called "bank-created money." I didn't think this should be hard to understand. (To avoid a round of rejoinders on the obvious, the BORROWER as well as the Lender is obviously involved in the money-creation transaction!)

 

[ZiprHead]

Administration: ‘Many’ Venezuelans sent to El Salvador prison had no U.S. criminal record

The Trump administration has admitted in federal court documents that “many” Venezuelans it accused of being dangerous gang members and deported through presidential wartime powers have no criminal records in the United States, but argued it was only because they had only been in the U.S. briefly. President Donald Trump used a centuries-old law, the 1798 Alien Enemies Act, to deport the Venezuelans without due process in the U.S., saying they were members of the feared Tren de Aragua gang.

 

[KCFlyer]

We are now on the 23rd page of "Things Trump Did Right". Given the past month or so, I think it is fair to say that whatever good he did from 2017-2021 has been completely negated.

 

[laughing dog]

SHOW us ONE sentence I got wrong. Be specific.

Here's two:
Go ahead and view FedRes as a branch of USG if that floats your boat. It doesn't matter.
FedRes NEVER issues "fiat money."

First I ask you. What OTHER type(s) of money do you recognize besides "fiat money"?

1. The first sentence agrees with you that FedRes can be viewed as part of USG. Then points out that it doesn't matter. Or, more specifically, that it is often clarifying to treat FedRes as an independent bank. (Just like the Bank of England was and other early central banks -- they have special charters but keep books just like an ordinary bank). Indeed it was your insistence on viewing FedRes as "only" a non-independent branch of USG that led to your confused statements and misconceptions.

I did nothing of the kind. The FRS is semiautonomous branch of the federal gov’t . That makes it part of the gov’t - something you denied.

The rest of your post is based on your obsession with bank-created money which has nothing to do with the Federal gov’t ability - actual or potential- to print money and with straw men.

 

[Elixir]

We are now on the 23rd page of "Things Trump Did Right". Given the past month or so, I think it is fair to say that whatever good he did from 2017-2021 has been completely negated.

He did some good 17-21?
Fill me in!

 

[KCFlyer]

Fill me in!

Fast tracked the covid vaccine that none of them trust. It was the only good thing he did.

 

[Swammerdami]

SHOW us ONE sentence I got wrong. Be specific.

Here's two:
Go ahead and view FedRes as a branch of USG if that floats your boat. It doesn't matter.
FedRes NEVER issues "fiat money."

I'm glad we had the chance to exchange views, laughing dog.
I think the whole sub-debate began in a semantic dispute by you and bilby over RVonse's use of the term "bankrupt." Strictly speaking the German Reichsbank didn't go bankrupt in its Papiermark obligations in the sense that no Creditor's Order for Relief was filed. The Bank met its obligations simply by adding zeros (roughly two zeroes per month in late 1923) to the denominations on the plates from which it printed its fiat money.

In RVonse's dialect I think he calls this "bankruptcy." To quibble with that dialectic usage seems like a waste of space. Or a pedantic celebration of legalese over common-sense.

First I ask you. What OTHER type(s) of money do you recognize besides "fiat money"?

Would you answer this question please? Do you recognize ANY other "type of money" in the modern era (setting aside cryptocoins)? If not, then it would be a tautology in your dialect that almost ALL present-day money is "fiat money", and our dialog has similarly been a waste of time.

For clarity, if I go to a bank, mortgage my home, and receive a check-book, is the new money the bank has created and placed in my account "fiat money"? How about a century ago when I could cash a check for $100 and receive ten Gold Eagle coins?

1. The first sentence agrees with you that FedRes can be viewed as part of USG. Then points out that it doesn't matter.

I did nothing of the kind. The FRS is semiautonomous branch of the federal gov’t . That makes it part of the gov’t - something you denied.

Will I need to start using larger fonts and bold-face when I discuss with you??
Surely "agrees with" and "deny" are not synonyms in your dialect.

 

[laughing dog]

SHOW us ONE sentence I got wrong. Be specific.

Here's two:
Go ahead and view FedRes as a branch of USG if that floats your boat. It doesn't matter.
FedRes NEVER issues "fiat money."

I'm glad we had the chance to exchange views, laughing dog.
I think the whole sub-debate began in a semantic dispute by you and bilby over RVonse's use of the term "bankrupt." Strictly speaking the German Reichsbank didn't go bankrupt in its Papiermark obligations in the sense that no Creditor's Order for Relief was filed. The Bank met its obligations simply by adding zeros (roughly two zeroes per month in late 1923) to the denominations on the plates from which it printed its fiat money.

In RVonse's dialect I think he calls this "bankruptcy." To quibble with that dialectic usage seems like a waste of space. Or a pedantic celebration of legalese over common-sense.

First I ask you. What OTHER type(s) of money do you recognize besides "fiat money"?

Would you answer this question please? Do you recognize ANY other "type of money" in the modern era (setting aside cryptocoins)? If not, then it would be a tautology in your dialect that almost ALL present-day money is "fiat money", and our dialog has similarly been a waste of time.

For clarity, if I go to a bank, mortgage my home, and receive a check-book, is the new money the bank has created and placed in my account "fiat money"? How about a century ago when I could cash a check for $100 and receive ten Gold Eagle coins?

1. The first sentence agrees with you that FedRes can be viewed as part of USG. Then points out that it doesn't matter.

I did nothing of the kind. The FRS is semiautonomous branch of the federal gov’t . That makes it part of the gov’t - something you denied.

Will I need to start using larger fonts and bold-face when I discuss with you??
Surely "agrees with" and "deny" are not synonyms in your dialect.

We agree the discussion is a waste of time. We agree you are confused.

Since we are in agreement, and since the topic of different forms of money was never germane to the initial issue of gov’t bankruptcy nor is it germane to the thread topic, I see no point in extending it.

 

[Elixir]

Fill me in!

Fast tracked the covid vaccine that none of them trust. It was the only good thing he did.

Under duress, and while still trying to destroy the best epidemiologist the US government has ever employed.
No points from me!!
I do not believe he did ANYTHING to “fast track” the vaccine, he just momentarily halted his ongoing effort to destroy the CDC.
Still probably the “best” thing he did.

 

[BH]

Trump did cool tensions with North Korea in his first term.

I also heard through bad authority his waited till he was alone in private before passing gas.

So there are two good things he did.

But I will always dislike Trump personally and professionally. His handling of covid and making it seem it wasn't a big deal may have contributed to my brother in law passing away. He and my sister were MAGA bigtime and got warm fuzzies every time he spoke. Now, don't get me wrong, my mother is a certified medical lab tech and followed the news about this thing before it got widespread. She kept saying this is going to be bad and mask up, ect. All her nurse, doctor, and lab tech friends said the same and those two listened to Trump, so part of it is on them.

I read a book called Narcissistic Process and Corporate Decay several years ago. Sometimes you find people in authority above those who technically are much more qualified in knowledge and ability than their supervisor. People who are neither these authorities or the supervisor will mistakenly think the supervisor knows more or somehow, if saying something different than those more really expertise below them on the formal totem pole, will assume those below are wrong and the supervisor has access to information those below dont or why would that person be supervisor. Sometimes this can be very dangerous. I think that is how my brother in law and sister reasoned.

 

[Elixir]

Trump did cool tensions with North Korea in his first term.

Cooled tensions while permitting NK to become a viable nuclear power.
Such a (bad) deal!

 

[Politesse]

Under duress, and while still trying to destroy the best epidemiologist the US government has ever employed.

Do you mean Anthony Fauci? He is an immunologist, not an epidemiologist, and his record and reputation are somewhat more complicated than this post would suggest. There are plenty of epidemiologists with legitimate criticism of his handling the chief challenges under the tenure, Covid and the AIDS crisis.

Your basic point is sound, though. Because while opinions of Fauci may vary, the consensus of nearly every epidemiologist concerning Donald F. Trump is all too clear: he killed people, and encouraged them to kill themselves. A pandemic is no time to be discouraging people from wearing PPE, avoiding social contact, accepting the validity of medical science, following orders from public health agencies, sharing interventions across international borders, and/or vaccinating against disease.

 

[Elixir]

A pandemic is no time to be discouraging people from wearing PPE, avoiding social contact, accepting the validity of medical science, following orders from public health agencies, sharing interventions across international borders, and/or vaccinating against disease.

That may be, but it was just one guy from China, and one day it magically disappeared, remember?

 

[Shadowy Man]

We are now on the 23rd page of "Things Trump Did Right". Given the past month or so, I think it is fair to say that whatever good he did from 2017-2021 has been completely negated.

But, but... no more pennies!! That doesn't make everything all right???

 

[KCFlyer]

Your basic point is sound, though. Because while opinions of Fauci may vary, the consensus of nearly every epidemiologist concerning Donald F. Trump is all too clear: he killed people, and encouraged them to kill themselves. A pandemic is no time to be discouraging people from wearing PPE, avoiding social contact, accepting the validity of medical science, following orders from public health agencies, sharing interventions across international borders, and/or vaccinating against disease.

It's too bad his views of the economy weren't like they are today....where he doesn't' give a shit about the stock market, unemployment, or anything else. He would have been able to focus on "pre retribution" instead of casting doubt on his health officials. If we have another pandemic in the next four years, he has cut research and neutered his health organizations, so the death toll could well be worse. But of course if that happened it would all be the fault of Biden or Obama

 

[Politesse]

I think it's going to be a lot harder to blame everything on Obama this time, people are going to remember that he dismantled most of the government.

 

[KCFlyer]

I think it's going to be a lot harder to blame everything on Obama this time, people are going to remember that he dismantled most of the government.

But he doesn't care this time. All he wants is retribution.

 

[Politesse]

For what? He's the most powerful man on earth, and he whines like a fucking toddler over nothing.

 

[Shadowy Man]

For what? He's the most powerful man on earth, and he whines like a fucking toddler over nothing.

Have some sympathy!! Daddy never hugged him.

 

[Politesse]

His Daddy was a racist con man loyal to the wrong country, and he raised another racist con man loyal to the wrong country. I'll care about his feelings after he cedes power over our nuclear arsenal to an adult.