The Flat Earth Society
Other Discussion Boards => Philosophy, Religion & Society => Topic started by: J-Man on September 22, 2022, 04:50:58 PM
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https://www.zerohedge.com/personal-finance/inflation-costing-average-american-family-11500-year
(Inflation Costing Average American Family $11,500 This Year)
Opps I guess Joes a stupid liar.
Meanwhile, President Joe Biden insisted earlier this week in an interview on CBS’ “60 Minutes” that inflation “hasn’t spiked” in recent months and remains “basically even.”
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Personally I've made some changes along the household expenses to prevent such financial instability. My guess is I couldn't dodge 5% of the increases on average. Social Security COLA and higher interest rates once the business turmoil slows will allow many of us to claw back the 5%
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https://www.zerohedge.com/personal-finance/inflation-costing-average-american-family-11500-year
(Inflation Costing Average American Family $11,500 This Year)
Opps I guess Joes a stupid liar.
Meanwhile, President Joe Biden insisted earlier this week in an interview on CBS’ “60 Minutes” that inflation “hasn’t spiked” in recent months and remains “basically even.”
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Personally I've made some changes along the household expenses to prevent such financial instability. My guess is I couldn't dodge 5% of the increases on average. Social Security COLA and higher interest rates once the business turmoil slows will allow many of us to claw back the 5%
Well, to begin with I would not trust anything I read from that user contributed site without checking it out further. It seems zero fact checking is done on the stories.
Secondly, even calculating past inflation is an extremely difficult thing to do and cannot be done with absolute certainty. You can't just compare the price of an "item" 20 years ago to the price of the "item" today and substract one from the other, divide by the number of intervening years then declare an average inflation rate. It just does not work that way. The first and foremost reason is that the "item" you had 20 years ago will almost certainly NOT be the same "item" you have today. There are many other considerations too .. hundreds of them.
Thirdly, predicating future inflation is just not possible. You have a better chance of predicting the weather for January 31st 2022 than you do of predicting what the inflation rate will be then.
You can believe whatever you want to confirm your bias, that's on you, but don't you owe it to yourself to check stuff like this out before using it to denigrate someone? Or is that the good, bible thumping, Christian way? Make blind unsubstantiated accusations against your neighbors and spread possible lies about them?
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you know nothing :)
http://www.shadowstats.com/alternate_data/inflation-charts
Unfunded liabilities make the debt hundreds of trillions. This rock is broke and coming in for a reset.
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you know nothing :)
http://www.shadowstats.com/alternate_data/inflation-charts
Unfunded liabilities make the debt hundreds of trillions. This rock is broke and coming in for a reset.
An unfunded liability is literally nonsensical in the context of nation states.
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you know nothing :)
http://www.shadowstats.com/alternate_data/inflation-charts
Unfunded liabilities make the debt hundreds of trillions. This rock is broke and coming in for a reset.
An unfunded liability is literally nonsensical in the context of nation states.
It is nonsensical to believe nation-states can exist within the context of unfunded liabilities.
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you know nothing :)
http://www.shadowstats.com/alternate_data/inflation-charts
Unfunded liabilities make the debt hundreds of trillions. This rock is broke and coming in for a reset.
An unfunded liability is literally nonsensical in the context of nation states.
It is nonsensical to believe nation-states can exist within the context of unfunded liabilities.
I am Total Lackey and think reversing people’s words makes me very smart
The US produces their own funds. You know that right? Please tell me you know that.
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The US produces their own funds. You know that right? Please tell me you know that.
Please explain how the US "produces their own funds".
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you know nothing :)
http://www.shadowstats.com/alternate_data/inflation-charts
Unfunded liabilities make the debt hundreds of trillions. This rock is broke and coming in for a reset.
An unfunded liability is literally nonsensical in the context of nation states.
It is nonsensical to believe nation-states can exist within the context of unfunded liabilities.
I am Total Lackey and think reversing people’s words makes me very smart
The US produces their own funds. You know that right? Please tell me you know that.
For you to think the US "produces its own funds," is laughable, to say the least.
Pro-tip, they do not.
That should give you a clue as to why nation-states cannot exist with unfunded liabilities.
Corporations, on the other hand, certainly can.
But corporations do not fit the definition of a nation-state.
Banks and financial institutions do, however.
Left you another clue.
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That should give you a clue as to why nation-states cannot exist with unfunded liabilities.
I think Social Security and Medicare have unfunded liabilities yet the US is still a nation-state. How does that work if nation-states can't exist with unfunded liabilities?
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The US produces their own funds. You know that right? Please tell me you know that.
Please explain how the US "produces their own funds".
You fucking dolt, they have a mint.
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That should give you a clue as to why nation-states cannot exist with unfunded liabilities.
I think Social Security and Medicare have unfunded liabilities yet the US is still a nation-state. How does that work if nation-states can't exist with unfunded liabilities?
Could have something to do with how you define a nation-state.
You are under the impression a nation-state with unfunded liabilities is still capable of "charting its own course," as it were.
I am under no such impression, understanding fully whoever has funded that debt, is the one dictating the actual course.
The US produces their own funds. You know that right? Please tell me you know that.
Please explain how the US "produces their own funds".
You fucking dolt, they have a mint.
The US does indeed have a mint.
But that mint is in fact, also an unfunded liability, and can only operate if funds are borrowed from an outside source to allow it to function.
The mint does not produce its own funds to facilitate operation.
You are trying to claim perpetual motion exists here, when in fact, it exists no where.
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Could have something to do with how you define a nation-state.
How do you define a nation-state?
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Could have something to do with how you define a nation-state.
How do you define a nation-state?
I used the words "charting its own course." I would include that as part of the definition, along with other things, but seeing how the general OP is pretty aligned with the concept of economics, no need to get into the others; however, in addition, if you like, we can also add the US is truly no longer homogenous in any sense of the word.
Since the US government does not solely direct (in fact, it has no current role) its monetary policy, it does not meet the definition of a nation-state.
So, overall, the current state of inflation is not really inflicted upon any citizens of any country by the people occupying governmental positions of authority, including Joe Biden. It is facilitated by these people at the behest of those responsible for establishing the monetary policies (i.e., central banks).
A country owning its central bank would continue to meet my understanding of the definition of a nation-state.
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Some fun visualizations ? Tough to wrap your head around just how far we pushed to complete financial ruin. This is why a digital currency will be developed to replace our broken system of thieves. You will abide, by force...
https://demonocracy.info/infographics/usa/us_debt/us_debt-unfunded_liabilities.html
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The US produces their own funds. You know that right? Please tell me you know that.
Please explain how the US "produces their own funds".
You fucking dolt, they have a mint.
I don't see the relevance and I look forward to bringing "produces their own funds" to its logical conclusion where you realize that the US government cannot do that.
Let's use something simple: a gold coin. Say the US government wants to mint a gold coin. Where does it get the gold?
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The US produces their own funds. You know that right? Please tell me you know that.
Please explain how the US "produces their own funds".
You fucking dolt, they have a mint.
I don't see the relevance and I look forward to bringing "produces their own funds" to its logical conclusion where you realize that the US government cannot do that.
Let's use something simple: a gold coin. Say the US government wants to mint a gold coin. Where does it get the gold?
It’s a complete mystery. No one knows how to acquire gold. I hope you figure it out.
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The US produces their own funds. You know that right? Please tell me you know that.
Please explain how the US "produces their own funds".
You fucking dolt, they have a mint.
I don't see the relevance and I look forward to bringing "produces their own funds" to its logical conclusion where you realize that the US government cannot do that.
Let's use something simple: a gold coin. Say the US government wants to mint a gold coin. Where does it get the gold?
It’s a complete mystery. No one knows how to acquire gold. I hope you figure it out.
Everyone knows how to acquire gold.
So do you.
So, where do you get your gold, if you were to want some?
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Gold is becoming in short supply. Once Basel lll reclassified it as a tier 1 asset, countries began purchasing again. Russia China and India have really never let up. Does the US even have their 8000 tons or did it get sold and now Biden is selling off the remaining asset of oil reserves to finish us off?
Roughly 23 Trillion in US Fed cash circulating, about $3,300 every man, women and child on the surface. That's cash not wealth, we know most don't have that in US green funny money. Gold is another peeps don't have. 3/4 of an ounce for each human ever mined but most have zip.
So your family of 4 should have $13,200 in US fiat and 3 oz of Gods coin.
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The US produces their own funds. You know that right? Please tell me you know that.
Please explain how the US "produces their own funds".
You fucking dolt, they have a mint.
I don't see the relevance and I look forward to bringing "produces their own funds" to its logical conclusion where you realize that the US government cannot do that.
Let's use something simple: a gold coin. Say the US government wants to mint a gold coin. Where does it get the gold?
It’s a complete mystery. No one knows how to acquire gold. I hope you figure it out.
Everyone knows how to acquire gold.
So do you.
So, where do you get your gold, if you were to want some?
If everyone knows, why don’t we just move on to the next part of the discussion?
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Gold is taboo, today it's trading (1oz Gold Eagle) @ spot + $210 which is really steep but the coin shops who were lucky to get this weeks supply maybe 35 coins aren't going to lose money on something that is manipulated in price via the comex gangsters. 10 yrs ago these coins were spot+50.
Gold in US is going to skyrocket when the dollar crashes and it will. Saudi's will price oil in a gold back yuan and dump uncle sam. I've also said the dollar will skyrocket in price as the world closes out contracts of all kind in dollars. They need to buy dollars to pay off these contracts and rewrite in a new currency. IMO this is what we are seeing today. It's just too expensive to do bus in $$$ now. So where will this $$ go? To the reserve banks who inturn will buy Gold (tier 1) for the dollars sending Gold up up up like were seeing the $$$ today. When all this debt comes home the US crashes...
Watch and learn little Bitchez
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The US produces their own funds. You know that right? Please tell me you know that.
Please explain how the US "produces their own funds".
You fucking dolt, they have a mint.
I don't see the relevance and I look forward to bringing "produces their own funds" to its logical conclusion where you realize that the US government cannot do that.
Let's use something simple: a gold coin. Say the US government wants to mint a gold coin. Where does it get the gold?
It’s a complete mystery. No one knows how to acquire gold. I hope you figure it out.
Everyone knows how to acquire gold.
So do you.
So, where do you get your gold, if you were to want some?
If everyone knows, why don’t we just move on to the next part of the discussion?
Okay, the next part of the discussion is how you obtain it.
They are not giving it away, to my knowledge.
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Okay, the next part of the discussion is how you obtain it.
They are not giving it away, to my knowledge.
How does one obtain anything that is not given away?
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The US produces their own funds. You know that right? Please tell me you know that.
Please explain how the US "produces their own funds".
You fucking dolt, they have a mint.
I don't see the relevance and I look forward to bringing "produces their own funds" to its logical conclusion where you realize that the US government cannot do that.
Let's use something simple: a gold coin. Say the US government wants to mint a gold coin. Where does it get the gold?
It’s a complete mystery. No one knows how to acquire gold. I hope you figure it out.
Everyone knows how to acquire gold.
So do you.
So, where do you get your gold, if you were to want some?
If everyone knows, why don’t we just move on to the next part of the discussion?
Okay, the next part of the discussion is how you obtain it.
They are not giving it away, to my knowledge.
It’s truly a mystery. Best of luck figuring out this most enigmatic of problems.
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It’s truly a mystery. Best of luck figuring out this most enigmatic of problems.
I have it figured out.
You exchange something of equal value.
Given the US is not currently holding anything of real value, they go deeper into debt (aka unfunded liability).
This leads back to the first post you made.
Just utter BS to believe a nation-state can exist with unfunded liability.
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The US produces their own funds. You know that right? Please tell me you know that.
Please explain how the US "produces their own funds".
You fucking dolt, they have a mint.
I don't see the relevance and I look forward to bringing "produces their own funds" to its logical conclusion where you realize that the US government cannot do that.
Let's use something simple: a gold coin. Say the US government wants to mint a gold coin. Where does it get the gold?
It’s a complete mystery. No one knows how to acquire gold. I hope you figure it out.
Going to take this as a sign that you figured out saying the US "produces their own funds" is complete nonsense...
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Going to take this as a sign that you figured out saying the US "produces their own funds" is complete nonsense...
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The US produces their own funds. You know that right? Please tell me you know that.
Please explain how the US "produces their own funds".
You fucking dolt, they have a mint.
I don't see the relevance and I look forward to bringing "produces their own funds" to its logical conclusion where you realize that the US government cannot do that.
Let's use something simple: a gold coin. Say the US government wants to mint a gold coin. Where does it get the gold?
It’s a complete mystery. No one knows how to acquire gold. I hope you figure it out.
Going to take this as a sign that you figured out saying the US "produces their own funds" is complete nonsense...
Mints don’t make mints as you well know. The US, if it needs cash can literally print it.
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Given the US is not currently holding anything of real value, they go deeper into debt (aka unfunded liability).
You’ve written a lot of stupid things and this is one of them. How you can think the US holds nothing of value is comepletely beyond me.
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Mints don’t make mints as you well know. The US, if it needs cash can literally print it.
Oh geez, they can just invent funds out of thin air! Wow! Better tell the US treasury that. No one needs bonds anymore, you just print money!
Seriously, is this your understanding of economics and currency systems? Do you actually, genuinely believe that the method by which the US government acquires and expends wealth is by printing money? Do you think that other world governments do that as well? That is not how that works, that's not how any of this works...
I'm going to try this simplification process again: what entity is responsible for generating the money supply in the US? (Hint: it isn't the government)
Edit: actually, I'm tired of this weird meme of you pretending to not know what I'm getting at. If you genuinely do not know the basics of money supply economics, visit here: https://www.investopedia.com/articles/investing/081415/understanding-how-federal-reserve-creates-money.asp
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I understand that they can just print money and if push comes to shove they can just do that to pay a debt. Lots of countries have done it and it’s ended terribly every time.
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I understand that they can just print money and if push comes to shove they can just do that to pay a debt. Lots of countries have done it and it’s ended terribly every time.
Except they can't (in other words, you still don't understand it!). Governments don't have control over the printing of money (despite owning the printers themselves). This is for the obvious reason that a government alone cannot be trusted with the management of money supply.
Money itself is not wealth, but a very liquid representation of it. A government cannot pay off its debts with its own currency by printing more of it (as this fundamentally makes no sense and you already know it). Every time the Fed injects more cash, the nominal debt of the US government increases. The debt would always be higher than the amount of cash injected to pay it off and therefore you can never do so, nor has it ever been done that way in history.
Please read more of my link and, I don't know, read a book about monetary policy maybe? Understanding the basics of how modern financial systems work should really be required education but somehow it always falls through the gaps. Probably because a great many people benefit by ensuring you understand as little about the financial system as possible.
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You pointed me to a bunch of policies and procedures none of which prohibited the proscribed action and then somehow decided being a smug prick was the best way to frame it. Enough internet for me today.
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You pointed me to a bunch of policies and procedures none of which prohibited the proscribed action and then somehow decided being a smug prick was the best way to frame it. Enough internet for me today.
How else should I react to you relishing in your own ignorance? It's like you actively enjoy knowing as little as possible about the subject then declaring the government can do something they cannot do at all. It's clear you didn't even bother reading the very basic introduction to money supply generation that I linked for you!
Good god, man, at least pretend you're embarrassed and you'll learn more about it. Stop doubling down on MAGA-tier "hurr durr government print money!" economics.
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I wasn't expecting this tonight but here it comes. British Pound take a dooozey of a hit. Dollar might see 130-140 before this is all over?
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Rama, the dollar is NOT anything but a private banks fiat currency. They are called the Federal Reserve Bank.
"The Federal Reserve Cartel – Eight Families own the USA #BIS, IMF, World Bank"
"They are the Goldman Sachs, Rockefellers, Lehmans and Kuhn Loebs of New York; the Rothschilds of Paris and London;
the Warburgs of Hamburg; the Lazards of Paris; and the Israel Moses Seifs of Rome."
https://hannenabintuherland.com/usa/the-federal-reserve-cartel-the-eight-families-who-own-usa-dean-henderson-herlandreport/
If you don't own some Gold/Silver/Food/Guns&Ammo you're going to get an ass whooping.
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Rama, the dollar is NOT anything but a private banks fiat currency. They are called the Federal Reserve Bank.
What's the difference between $ and BTC?
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Rama, the dollar is NOT anything but a private banks fiat currency. They are called the Federal Reserve Bank.
Okay, this isn't true, either. The Federal Reserve is not a private bank. It's an independent board organized by the government that interacts with private member banks.
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Rushy forgot to even look at a bill "Federal Reserve Note", u own nothing, it's temporarily being lent to u.
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Given the US is not currently holding anything of real value, they go deeper into debt (aka unfunded liability).
You’ve written a lot of stupid things and this is one of them. How you can think the US holds nothing of value is comepletely beyond me.
Do you own anything that is currently in hock?
The US owns nothing currently, including land. It is all in hock.
You should have saved your nonsensical post to begin with.
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Rama, the dollar is NOT anything but a private banks fiat currency. They are called the Federal Reserve Bank.
Okay, this isn't true, either. The Federal Reserve is not a private bank. It's an independent board organized by the government that interacts with private member banks.
Wrong, real wrong.
The Fed is a totally private banking institution that allows the government to appoint members to its board. Seven board members or governors for 12 independent regions.
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Given the US is not currently holding anything of real value, they go deeper into debt (aka unfunded liability).
You’ve written a lot of stupid things and this is one of them. How you can think the US holds nothing of value is comepletely beyond me.
Do you own anything that is currently in hock?
The US owns nothing currently, including land. It is all in hock.
You should have saved your nonsensical post to begin with.
Federal land is currently owned by a pawn shop?
So are all the federal buildings?
Oh dear. That must be the richest pawn shop in existence.
Rama, the dollar is NOT anything but a private banks fiat currency. They are called the Federal Reserve Bank.
Okay, this isn't true, either. The Federal Reserve is not a private bank. It's an independent board organized by the government that interacts with private member banks.
Wrong, real wrong.
The Fed is a totally private banking institution that allows the government to appoint members to its board. Seven board members or governors for 12 independent regions.
This is just a great quote. Its as you as possible.
Tell someone he's wrong then contradict yourself in the next sentence. XD
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Given the US is not currently holding anything of real value, they go deeper into debt (aka unfunded liability).
You’ve written a lot of stupid things and this is one of them. How you can think the US holds nothing of value is comepletely beyond me.
Do you own anything that is currently in hock?
The US owns nothing currently, including land. It is all in hock.
You should have saved your nonsensical post to begin with.
Federal land is currently owned by a pawn shop?
So are all the federal buildings?
Oh dear. That must be the richest pawn shop in existence.
Being in hock describes collateral. Banks hold collateral.
Rama, the dollar is NOT anything but a private banks fiat currency. They are called the Federal Reserve Bank.
Okay, this isn't true, either. The Federal Reserve is not a private bank. It's an independent board organized by the government that interacts with private member banks.
Wrong, real wrong.
The Fed is a totally private banking institution that allows the government to appoint members to its board. Seven board members or governors for 12 independent regions.
This is just a great quote. Its as you as possible.
Tell someone he's wrong then contradict yourself in the next sentence. XD
Private institutions can have government-appointed board members. It does not make them government agencies.
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Private institutions can have government-appointed board members. It does not make them government agencies.
Legal cases involving the Federal Reserve Banks have concluded that they are "private", but can be held or deemed as "governmental" depending on the particular law at issue.
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Given the US is not currently holding anything of real value, they go deeper into debt (aka unfunded liability).
You’ve written a lot of stupid things and this is one of them. How you can think the US holds nothing of value is comepletely beyond me.
Do you own anything that is currently in hock?
The US owns nothing currently, including land. It is all in hock.
You should have saved your nonsensical post to begin with.
Federal land is currently owned by a pawn shop?
So are all the federal buildings?
Oh dear. That must be the richest pawn shop in existence.
Being in hock describes collateral. Banks hold collateral.
I've never used that word in that context as hock typically means sell, specifically to a pawn shop. If a piece of land is being used as collateral for a loan, its... Collateral. If it was hock, the bank would own the land even if you were paying off your loan.
Rama, the dollar is NOT anything but a private banks fiat currency. They are called the Federal Reserve Bank.
Okay, this isn't true, either. The Federal Reserve is not a private bank. It's an independent board organized by the government that interacts with private member banks.
Wrong, real wrong.
The Fed is a totally private banking institution that allows the government to appoint members to its board. Seven board members or governors for 12 independent regions.
This is just a great quote. Its as you as possible.
Tell someone he's wrong then contradict yourself in the next sentence. XD
Private institutions can have government-appointed board members. It does not make them government agencies.
I disagree. Especially if the government appoints and governs them.
However, as Markjo points out, the courts have ruled its both, so not gonna argue with it.
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Private institutions can have government-appointed board members. It does not make them government agencies.
Legal cases involving the Federal Reserve Banks have concluded that they are "private", but can be held or deemed as "governmental" depending on the particular law at issue.
So Rushy IS mentally challenged...TY
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Private institutions can have government-appointed board members. It does not make them government agencies.
Legal cases involving the Federal Reserve Banks have concluded that they are "private", but can be held or deemed as "governmental" depending on the particular law at issue.
So Rushy IS mentally challenged...TY
No, it just means that you are both half-right.
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I'm not so sure that taking financial advice from J-Man is the wisest thing to do...
I was crazy enough to purchase @ $34900 two days later 41500.
Fiat is dead, gold/silver is manipulated...Crypto seems the answer to beat the bank printing.
(https://i.imgur.com/1MMHAq0.png)
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Biden has sent the US debt load to over $31 trillion and climbing fast. He has done a great job destroying this country in a short amount of time. Dr. Jill says there is no hope now, not even for MAGA....
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Looks like dems and repubs are both equally averse to reducing the debt...Covid sure didn't help things throughout 2020 & beyond...
(https://i.imgur.com/tTKshv3.png)
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Looks like dems and repubs are both equally averse to reducing the debt...Covid sure didn't help things throughout 2020 & beyond...
(https://i.imgur.com/tTKshv3.png)
It's because the debt doesn't really mean anything and everyone in Congress knows it. It's a good talking point "rah rah reduce debt or whatever!" but it doesn't actually matter. It's why universally the more someone brings up America's debt the less they know about economics. America economically controls the vast majority of the planet. Its debt is to itself and just a big scary number on paper. No one who matters cares about the US total debt.
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Looks like dems and repubs are both equally averse to reducing the debt...Covid sure didn't help things throughout 2020 & beyond...
(https://i.imgur.com/tTKshv3.png)
It's because the debt doesn't really mean anything and everyone in Congress knows it. It's a good talking point "rah rah reduce debt or whatever!" but it doesn't actually matter. It's why universally the more someone brings up America's debt the less they know about economics. America economically controls the vast majority of the planet. Its debt is to itself and just a big scary number on paper. No one who matters cares about the US total debt.
I couldn't agree more.