@Rainmaker1973 If the vehicle comes to a complete stop on the road he's on, is he stationary or is he moving at 828,000 km/h? It depends on what you choose as your reference frame, not on physics.
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Ε.Α.Μ-Ε.Λ.Α.Σ.
1.1K posts
@fiat_money To ask whether the US gov't has or does not have money is not an applicable question. The Gov't spends into existence what Congress has allocated in the budget, and taxes some of it back. The gov't does not need to get the money it spends or use the tax money returned.
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@Science_TechTV Yes, but the caveat is that you have to use mathematics to describe reality, not fantasy. Ptolemy used mathematics to describe a geocentric solar system with its epicycles. It was mainstream scientific "fact" for 1400 years.
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Mathematics is the language in which God has written the universe.
- Galileo Galilei
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@PredicHistory Imported oil is only 15% of China's total energy consumption. So, if Russia can cover #0% of that, the rest can be easily covered. In fact, the US is willing to sell oil to China.
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China is surrounded.
US bases everywhere. Japan. Taiwan. Philippines. South Korea.
Strait of Malacca — being militarized. Middle East — at war.
Indian Ocean — blockaded.
Western Hemisphere — American territory.
Russia can cover maybe 30% of China's oil.
Where does the rest come from?
America. In US dollars.
For the next 10 years — China has no choice.
There is nothing they can do about it.
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@wgoggin For example, Social Security payroll taxes go into the Social Security trust funds, which are an accounting construct rather than a genuine financial necessity for a sovereign currency issuer like the US government.
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Where does it go?
Institute of Economic Affairs@iealondon
🧾 @EMaggiori_ : "MMT was born out of an accounting mistake — they thought whenever the government collects taxes, the money disappears. They literally destroy the money." Emmanuel Maggiori exposes the error at the heart of Modern Monetary Theory. 👇
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@wgoggin In the current US system, government rate-setting is operationally required because of two policy choices. IORB: Interest on Reserve Balances; and Bond issuance instead of using a permanent overdraft.
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Keep in mind that government creates money when it spends and must set the base rate (policy rate) to keep it from falling to 0%. So …
David Sommers@dgsommersmkts
What if the markets (instead of the Fed) set interest rates (the price of money)? Would we care who Chairs the Fed? Would we care whether he or she is "independent" or not? Would we care about his or her forecasts, views on the economy, favorites in an election, blah blah blah? Imagine how productive we could be with our time otherwise! What if there were no Fed, or it were at least reduced back to being a lender of last resort only, at a penalty rate of interest, on good collateral only? There are 350 million vibrant people making markets in this country every day. Why not let them decide the price of money?
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@tairoquinho @jacksonhinklle If everyone bartered instead of having currency around, can they attain wealth? Can wealth exist without currency? Of course they/it can.
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@gogreen1908 @jacksonhinklle Admitting currency isn't wealth is your own checkmate. If deficits just flood the system with empty signifiers, they don't create prosperity; they dilute it your 'currency base' isn't an economic foundation it's a parasitic ledger designed to siphon real material wealth
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🇨🇳 China is gradually selling US treasuries and buying gold.
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@tairoquinho @jacksonhinklle The deficit is the base for currency left in the economy. Wealth is a different animal.
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@gogreen1908 @jacksonhinklle If the deficit is just 'wealth' left in the economy, why does infinite spending dilute our purchasing power? And if taxes don't fund anything, why extract them at all? Because your metaphysical ledger must constantly cannibalize real material energy (inflation) to survive
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@tairoquinho @jacksonhinklle Taxing in the government's currency forces people to provide work to provision the government by having to earn the currency which the government requires the tax to be paid in. That's how a government provisions itself. It doesn't need its own money back, it needs the work.
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@thematrixb0t Yes, modern societies require class diversification. If we don't like it, then we can decide to go back to a rural agrarian society, except, the world found out that it's not feasible any more due to the world's population growth. China found this out and changed after Mao.
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@tairoquinho @jacksonhinklle It's not serviced by future taxation. That's a common misconception. The money to pay taxes or for any other use, has initially been spent into the economy by the government. So, the government collects back part of the money it has spent into existence by taxing.
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@gogreen1908 @jacksonhinklle debt "money" ignores that it's a liability bearing interest serviced by future taxation or inflation, currency issuer can always "pay" by printing, but that's default through debasement destroying purchasing power, it's just a confidence game that collapses when trust evaporate
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@steve_hanke If the national debt went to zero, how much "base money" would be left in the economy to support credit money? None. There would be no US dollars without a national debt. The higher the national debt, the higher is the amount of dollars. Calling it debt is propaganda. It's money.
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THE U.S. NEEDS TO AMEND THE CONSTITUTION TO INCLUDE A DEBT BRAKE.
x.com/Barchart/statu…
Barchart@Barchart
BREAKING 🚨: U.S. Debt U.S. Debt now exceeds 100% of GDP for the first time since World War 2 🤯👀
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@GinaSaysSo The "we're running low on funds" mantra is propaganda. The Social security fund is an accounting gimmick, not real funds stashed in a vault or in an actual account. The federal government can run low on funds only in terms of what it allocated in a budget, not in absolute funds.
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There has never in the history of Social Security been a change that benefits the people.
Instead we're told we're running low on funds and the solution is always to raise the retirement age instead of eliminating the fraudulent spending.
Patricia 🇺🇸@1109Patricia
If Social Security had been run as a business not a slush fund for corrupt politicians, Americans would be receiving millions at retirement. The Biden administration’s misuse of our social security funds for illegals and other fraudulent uses caused a huge loss of benefits and higher monthly cost to seniors living on fixed incomes. 2026 had a 2.8% increase adding about $56 per month to the average check. Which caused the cost of Medicare to go up approximately $75 per month. The benefits were drastically cut and out of pocket costs skyrocketed along with the cost of prescription medications. The average check for American citizens that have paid in for 50 years $1,607 65 years $2,071 67 years $2,600 70 years Misuse of our Social Security funds have been rampant since the beginning in 1935. The only reason the age to receive full benefits keeps going up is the government hopes we die so we can’t collect any retirement benefits.
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@PhysInHistory Consciousness is the advanced form of the substrate of the universe, that which we call electricity. The brain creates the environment and connectivity for the electricity to coalesce as consciousness.
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Is consciousness just brain activity or a fundamental trait of the universe? ✍️
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@tairoquinho @jacksonhinklle If the national debt went to zero, how much "base money" would be left in the economy to support credit money? None. There would be no US dollars without a national debt. The higher the national debt, the higher is the amount of dollars. Calling it debt is propaganda. It's money.
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@gogreen1908 @jacksonhinklle Só , the 'not enough gold' claim is a fallacy, a finite material anchor can price any amount of wealth simply by adjusting its purchasing power. We shifted to 'metaphysics' not out of necessity, but as a political tool to enable infinite debt and credit expansion
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@ShannonJoyRadio If the national debt went to zero, how much "base money" would be left in the economy to support credit money? None. There would be no US dollars without a national debt. The higher the national debt, the higher is the amount of dollars. Calling it debt is propaganda. It's money.
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Courtesy of Donald Trump.
And Joe Biden.
And every Democrat,
And every Republican,
who preceded them.
We need to stop the UNIPARTY.
Watcher.Guru@WatcherGuru
JUST IN: 🇺🇸 US national debt surpasses size of the entire United States GDP for first time since World War II.
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@tairoquinho @jacksonhinklle There isn't enough gold in the world to value all the materiality modern societies have built. That's why we've switched to metaphysics. Even China. Everyone.
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@gogreen1908 @jacksonhinklle Gold is truly valuable and backed by materiality, while US Treasury bonds are based on the metaphysics of the contemporary god called money, and that will soon collapse.
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@thematrixb0t It's a scam, but not the one he's talking about. The scam is when he says that Congress spends Social Security withholdings. Congress does not spend any kind of tax. Congress spends new money first every year, and then they collect a portion back in the form of tax.
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Starting this year, the Social Security Administration will raise the full retirement age to 67 for everyone born after 1960.
Americans must work longer because Congress keeps spending our Social Security.
Senator Tommy Tuberville confirms they spend our Social Security, “It’s all a scam - what happens, it comes up here, we spend it”
“This is all a scam. I mean, we got people that's getting ready to retire that's gonna try to live off $2k-$3k, Impossible. It's impossible. Because what happens, it comes up here, we spend it.“
“In this body, we had better start figuring that out because we're gonna have a run from this city here soon, and there's gonna be about a 150 million people coming up here saying, where's our damn money that we paid in?”
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