@Hugh Johnson
Thanks for your replies above. It’s hard to fathom that many people have so little knowledge even know what money is and how it functions, same goes for credit and interest.
+1
Hugh's posts are a great read
Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
Click Here if you want to upgrade your account
If you were able to post but cannot do so now, send an email to admin at raypeatforum dot com and include your username and we will fix that right up for you.
@Hugh Johnson
Thanks for your replies above. It’s hard to fathom that many people have so little knowledge even know what money is and how it functions, same goes for credit and interest.
ThE cAPiTaliStS aRe desTrOyINg THe wOrLD!!!1!1!!!1!!+1
Hugh's posts are a great read
ThE cAPiTaliStS aRe desTrOyINg THe wOrLD!!!1!1!!!1!!
bANkS? NOthINg tO SEe tHErE mOVe ALonG!1!!1
Why are marxists like this? Facts don't matter in the slightest to you.
Apparently me. I'm not but postman quite clearly can not handly any nuance. I'm in analytically mostly in the MMT camp, and politically democratic socialist, not a Marxist.What on earth are you talking about?
And who are the Marxists here exactly?
No I meant thomas00. He does the typical marxist critique of capitalism, which is inherently conspiratorial, while at the same time saying conspiracies don't exist and you're irrational and religious if you think they do, and he doesn't acknowledge basic facts about the banking system. The system he would criticize if he had consistency, the banking system is the principal means of financial control in the world. A lot of marxists do this quasi-critique of capitalism, refusing to look at the main drivers of capitalist corruption. Also refusing to look closely at any type of corruption, why it exists, who is involved and why, instead choosing to explain any and all corruption with "muh capitalism" and mocking everyone who does deeper analysis.Apparently me. I'm not but postman quite clearly can not handly any nuance. I'm in analytically mostly in the MMT camp, and politically democratic socialist, not a Marxist.
Socialism, the idea that the those who work at the factory (or a farm etc) should be the ones that own and control it, is an idea older than Marx. Marxism is an ideology, while Socialism is a political position, while Marxist analysis is a way of analyzing the world. I do not even think the material world exist, so I can not possibly consider a materialist ideology. I also do not believe that any system of thought can provide a full representation of the world, at best they provide simplification that at best are useful for getting stuff done.No I meant thomas00. He does the typical marxist critique of capitalism, which is inherently conspiratorial, while at the same time saying conspiracies don't exist and you're irrational and religious if you think they do, and he doesn't acknowledge basic facts about the banking system. The system he would criticize if he had consistency, the banking system is the principal means of financial control in the world. A lot of marxists do this quasi-critique of capitalism, refusing to look at the main drivers of capitalist corruption. Also refusing to look closely at any type of corruption, why it exists, who is involved and why, instead choosing to explain any and all corruption with "muh capitalism" and mocking everyone who does deeper analysis.
I think MMT would be superior to the current oligarchic monetary system. Democratic socialism is very much a marxist position. Maybe you meant to say social democracy which is more of a mixed economy type of a system.
I could not tell you what their fine differences are. If this is a genuine interest, awesome, I suggest reading their books or listening to their lectures. But if it's a hobby or simply a desire to engage politically in an intelligent manner, you hardly need an in depth understanding of the topic.Seems a very sane outlook to me.
Top little knowledge of MMT myself, Im just now trying to understand the „shism“ between Guys like Varoufakis and Galbraith and the MMT, or where guys like Piketty stand. I’m not an economist, far from it, but I have always felt on the left side of economical and political spectrum. A liberal stance. But both terms mean different thinks in different nations, upbringings and educations.
Then why do you defend private banks? Why do private banks ( who answer to no one ) get to play parasitic middle man in the creation of money? Worse than middleman, they control the direction of newly created money. If the State was creating money in exchange for work or loaning in specified circumstances for various projects, that would be one thing. But instead most "money" is created by PRIVATE BANKS by fractionally lending or borrowing freshly created money from the FED at low interest rate and loaning it out at a higher one. That is the furthest thing from "democratic", that is financial tyranny.I could not tell you what their fine differences are. If this is a genuine interest, awesome, I suggest reading their books or listening to their lectures. But if it's a hobby or simply a desire to engage politically in an intelligent manner, you hardly need an in depth understanding of the topic.
Most people just need to know that money is a state creation, a state utility that can be used to secure full employment, and that strong financial regulation such as that adopted by the US after WW2 is highly effective in safeguarding growth and stability.
Demand creates work, other way around does not function. I have not defended private banking system, and I have no strong opinion on that. Banks are a valuable mechanism that transfers resources to from surplus sectors to deficit sectors. Banks make money because they are presumably effective middle men. Might not be true, I have no idea.Then why do you defend private banks? Why do private banks ( who answer to no one ) get to play parasitic middle man in the creation of money? Worse than middleman, they control the direction of newly created money. If the State was creating money in exchange for work or loaning in specified circumstances for various projects, that would be one thing. But instead most "money" is created by PRIVATE BANKS by fractionally lending or borrowing freshly created money from the FED at low interest rate and loaning it out at a higher one. That is the furthest thing from "democratic", that is financial tyranny.
Demand creates work, other way around does not function. I have not defended private banking system, and I have no strong opinion on that. Banks are a valuable mechanism that transfers resources to from surplus sectors to deficit sectors. Banks make money because they are presumably effective middle men. Might not be true, I have no idea.
There also is no "fractional reserve banking". That is a gold standard era model, in the modern era there is a Lender of Last Resort, and thus bank capital and loan demand is the limiting factor in lending.
@LeeLemonoil Or Stephanie Kelton or Bill Mitchell, whoever you enjoy they are all quite competent. I'm sure you are correct about Varoufakis, I have not followed these things for years. I always thought his plan on how to save Greece as presented in his articles was ridiculous, but then again, I am neither a politician nor an economist so what do I know.
Sorry, hyperbole. I havent taken out a loan so I dont know what the going rate for a mortgage or whatever is. My point is, I agree that the State should be in charge of creating money but what is going on right now with the FED and their connections to private banking is not that. The money also has to be backed by productive work and/or other resources of value. I'm not in favor of a gold standard because of the way gold has been hoarded and manipulated.
Conspiracy theories ARE religions. they are both the same.Conspiracy theories are just the new religion. .
all this Conspiracy theory's has nothing to do with Ray.
Also there are way to much hysterical corona virus threats here thats has no value to this forum
Even Ray mention thats in his last podcast that corona is not that bad compared to flu then media shows.
If you want the quality high on this forum you must act directly and wipe a lot of this nonsense from this board and keep it professional and intellectual.
These topic's are absolutely not.
There are a lot other boards where people can talk about there conspiracy nonsense.
If you don't wipe this forum clean than you're attracting the wrong people here thats has nothing to do with ray's work.
He definitely is playing a game.Bill Gates is one of the best examples of someone trying to control the world. He should be sent to an island with no way off.
These topic starter is perfect example whats going on.
Got An "Extreme Emergency: STAY HOME" Text Yesterday; Today I See Jets Spraying A Thick White Thing
He saw some jets flying over the sky releasing some very thick, white smoke-like thing, he doesn't know what it was, he got scared
and makes some theories that there must be something evil going on. worst-case scenarios of governments trying to kill us.
Credit cards.
Credit cards.