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Thread: MONEY MADNESS (various split off ozmirage posts and replies thereto)

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    Default Re: Split thread from the Hyperlending thread

    MONEY MADNESS
    =\=\=\=\=
    Money madness is the indoctrinated belief that money tokens have intrinsic value independent of the marketplace of goods and services.

    To illustrate the disconnect between reality and the abstraction of money tokens:

    http://www.federalreserve.gov/faqs/currency_12773.htm
    ● Q: How much U.S. currency is in circulation?
    ● A: There was approximately $1.45 trillion in circulation as of April 6, 2016, of which $1.4 trillion was in Federal Reserve notes.
    ● (Computes to roughly $4,312.50 per capita in circulation)

    https://en.wikipedia.org/wiki/Financ..._United_States
    ● ". . . The financial position of the United States includes assets of at least $269.6 trillion and debts of $145.8 trillion to produce a net worth of at least $123.8 trillion."

    http://neo.jpl.nasa.gov/neo/resource.html
    ● NASA has estimated the mineral wealth of the entire Asteroid Belt could be as much as $700 quintillion, or a seven followed by 20 zeroes. That’s $100 billion for every one of the 7 billion people on Earth!

    =\=\=\=
    How can you believe measurements that exceed the known total of circulating monies?
    $1.4 T in circulation versus $145.8 T in debt versus 123.8 T “net worth.”
    Isn’t that INSANE?
    $1.4 T in circulation versus $700 quintillion estimated “dollar value.”
    Are we not mad?

    What’s really reality: the actual sum of property, goods and services - or - an arbitrary value and sum of money tokens ?
    =\=\=\=

    If Amancio Ortega, Carlos Slim Helu, Warren Buffet, Bill Gates, and a consortium of other billionaires walked into the offices of the largest bank on the planet, and asked for a loan of 20 trillion dollar bills with which to fund mining asteroids worth 300 times that value and were more than willing to pay 15% interest, the bank would have to decline.
    WHY?

    The.Money.Does.Not.Exist.
    Last edited by ozmirage; 24th October 2016 at 15:23.

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    Canada Avalon Member Ernie Nemeth's Avatar
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    Default Re: Split thread from the Hyperlending thread

    I feel your frustration, and share it to the degree my uneducated mind can extend.

    Nothing has value until someone intends to possess it.

    The Milky Way Galaxy is worth 22 googolplex squared dollars, if a buyer could be found - or invented...

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    Default Re: Split thread from the Hyperlending thread

    Quote Posted by Ernie Nemeth (here)
    I feel your frustration, and share it to the degree my uneducated mind can extend.

    Nothing has value until someone intends to possess it.

    The Milky Way Galaxy is worth 22 googolplex squared dollars, if a buyer could be found - or invented...
    And don't forget the creation of the 22 googolplex squared dollars.

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    Default Re: The Fed is not just "printing money into hyperinflation" ... it's worse than that. It's Hyperlending.

    Quote Posted by AutumnW (here)
    Gold has done a fairly good job of rising in price with inflation....
    Not really.
    Gold is a bargain at current spot prices.

    On 10/24/2016, consider that $1,265.40* / troy ounce is the spot price for gold. (*Federal Reserve Notes, that is)

    Based on the Coinage Act of 1792 - - -
    Double Eagle = coin containing 0.9675 ounce (troy) of gold bullion and other alloys. Equivalent to 20 unit dollars.

    World supply of gold bullion (est) 5.9 billion ounces.
    https://en.wikipedia.org/wiki/Gold
    183,600 tonnes x 32151 =5,902,923,600 troy ounces
    If coined, pursuant to the Coinage Act of 1792, would compute to
    ● 122,024,260,465.11
    ● $122 billion dollars
    - - - -
    Coining all the gold bullion allegedly in Fort Knox Depository (147.4 million ounces) comes to approximately
    ● $3.05 billion dollars; or
    ● $9.45 per capita
    - - - -
    Gross Domestic Product
    GDP $18.561 trillion* (2016)

    Ignoring the velocity of money, how much would prices need to fall, if the GDP was to be traded with only 147.4 million ounces of gold, stamped into coin ($3.05 billion).

    $18.561 T (FRNs) / $3.05 B (dollars)
    18.561 x 10^12 / 3.05 x 10^9
    6,085.57
    or roughly 6,086:1 devaluation.

    0.9675 ounce (troy) of gold bullion is equivalent to 20 unit dollars.
    0.9675 / 20 = one dollar (in gold)
    Therefore, 0.048375 ounces of gold bullion is thus equivalent to $6,086 in federal reserve notes (no par value), in relation to the GDP.

    So until gold hits $125,808.78 (FRNs) per ounce, it's a fantastic bargain.
    However, as a potential worldwide medium of exchange, it still tanks.

    http://www.worldometers.info/world-population/
    As of 1/29/2015, there are 7,398,289,733 people (est)
    Thus when the world supply of gold is divided among 7.4 billion people, computes to
    ● $16.49 per capita

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    Default Re: The Fed is not just "printing money into hyperinflation" ... it's worse than that. It's Hyperlending.

    Ozmirage,

    I bought in about 10 years ago. I figure around 12 or 13 years ago it was about 400.00 per oz. Correct me if I am wrong here. From there it has tripled in price. Do you think prices, over all have more than tripled in price? Take food, for example..are you paying over 3 times what you paid in 2003, 2004? In Canada I think I am paying over double and it could easily be triple. Take housing now --- very dependant on location. So can't do that one!

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    Default Re: Split thread from the Hyperlending thread

    But a flick of a switch, for our intrepid banksters

  7. Link to Post #47
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    Default Re: MONEY MADNESS (various split off ozmirage posts and replies thereto)

    An update for MONEY MADNESS

    https://www.federalreserve.gov/releases/h41/current/
    Search report for “currency in circulation”
    Federal Reserve Banks . . . Dec.29, 2021
    $2,233,653,000,000
    $2.2 trillion dollar bills

    U.S. Population : 332 million ( est )
    Currency per capita : $6,727.87 (approx)
    - - - - - - - - -

    https://usdebtclock.org/
    JAN 1, 2022
    US NATIONAL DEBT : 29.4 T (in dollars)
    FEDERAL SPENDING : 6.8 T (in dollar bills)
    FEDERAL deficit : 2.99 T (in dollar bills)
    DEBT SERVICE : 0.421 T (in dollar bills)
    . . . . . .
    Pretty good trick - spend 6.8 T with only 2.2 T in circulation (that’s some “velocity of money”!).

    TOTAL PERSONAL DEBT: 21.2 T. (Mortgages, car loans, credit cards)
    Versus
    CURRENCY IN CIRCULATION: 2.2 T.
    Versus
    HOUSEHOLD ASSETS : 165.4 T. (Allegedly)
    . . . . . . .

    If you spend your life "making money" (seeking ever more dollar bills), you are not going to find happiness in your madness.
    Chasing an abstraction or worse, an obligation to pay an abstraction, while ignoring reality, is not conducive to prosperity.

    Money may be a medium of exchange to facilitate trade when barter is insufficient, but as long as the producer/owner of goods and services cannot create that medium, he will be a victim of those who do create it, lend it, or take it away.

    Addendum - since all dollar bills (Federal Reserve Notes) are part of the national debt, they cannot pay debt. (minus + minus = more minus). And the face value of all dollar bills can never match nor exceed that debt, being part of it. So one must ask : Exactly what was lent to CONgress to create such an impossible to repay obligation?
    Oh, right, you'd have to be MAD to ask such a question.
    Last edited by ozmirage; 24th January 2022 at 12:52.

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    Thumbs up Re: MONEY MADNESS (various split off ozmirage posts and replies thereto)

    EPILOGUE?

    You know you’re cured of money madness when you realize
    • Why parents care for children - without pay;
    • Why adult children care for their parents - without pay;
    • Why religious renunciants devote a lifetime of labor in service to their fellow men without material reward;
    • Why families come to the aid of their kinfolk, without expecting remuneration;
    • Why gardeners share their surplus with their neighbors, without charging a fee;
    • Why communities cooperate and have barn raisings and house raisings for their members;
    • Why civilization depends upon our labors, amplified by tools, machines, and technology to fashion resources into useable goods and services - not upon the accumulation of scarce money tokens, nor the whips of overseers.
    You know you’re cured of money madness when you realize that money is not prosperity, but a medium of exchange to facilitate trade. Money is an illusion of value. Money token value has never been proportional to the whole set of available goods and services, nor can the tokens grow at the same rate. In fact, there is no connection between the value of the marketplace and the volume of money tokens - which remain after all trades are completed.

    The reality is the marketplace, filled with goods and services for trade and enjoyment. Prosperity is the prodigious production, equitable trade, and enjoyment of surplus usable goods and services. Doing more, with less, so more can enjoy is the recipe for building happiness. Doing less, with more, so few can enjoy is the recipe for misery. And confiscating another’s surplus for compulsory charity is a curse.

    There will come a day when the sane and productive people will take control over their civilization, emitting money tokens in proportion with the goods and services available for trade (when barter is insufficient) - and extinguishing those tokens when the trade completes. Everything available to be “bought” has the means to “buy” it, in circulation.
    They will no longer be hostage to a scarce and finite money token system, preyed upon by politicians, usurers and predators, who are masters of money madness.
    Nor will they tolerate the collectivist slavers who glibly argue for compulsory charity, under their magnanimous administration.
    Last edited by ozmirage; 24th January 2022 at 13:16.

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