Watch Biden Economic Advisor’s HILARIOUS Fail Over Basic Money Question
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- Опубліковано 10 тра 2024
- Jared Bernstein is an American economist who is the chair of the United States Council of Economic Advisers. He is also utterly hapless when asked very basic questions about fundamental financial concepts like government debt and taxation. Thankfully, economics professor Dr. Richard Wolff joined The Jimmy Dore Show to provide answers that Bernstein couldn’t.
Jimmy and Americans’ Comedian Kurt Metzger talk to Wolff about why the government needs to collect taxes if it can just print whatever money it needs.
Professor Wolff on Twitter: / profwolff
Professor Wolff’s UA-cam channel: / richarddwolff
Kurt Metzger on Twitter: / kurtmetzger
Kurt’s website: www.KurtMetzgerComedy.com
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Why get Richard Wolff to comment on a video from MMT economists?
Get Stephanie Kelton back on, its a waste of time to listen to Richard Wolff.
You get Max Keiser on, Richard Wolff on to talk about a video about MMT but you don't get MMT professors on? HAHHHHHAHAH
Marxist apologists, Wolff and Dore, are so cute together.
The 5th Plank of the Communist Manifesto written by Marx, calls for the creation of a Central Bank.
The Federal Reserve you both are blaming is a Central Bank.
Let me guess, the Fed isn't a true real representation of Marx's pure philosophy, and only if you both could institute a pure model of a Central Bank that Marx envisioned, it would work?
Right?
@@henrygustav7948 Why not Wolff ? He explained very well how to rob americans.
Simple solution. Make all businesses and entities pay 38% of all money made, equally to it's employees.
Then everything falls into place . Flat tax rate across the board for all people, businesses and entities. Tax dodging ceases. Upgrades, infrastructure, debt, invention can all be afforded etc....
Businesses can't just up the prices for customers cause they still have to pay a set percentage to it's employees
Are you FED up with the FED? 🤣🤣
That's actually frightening. It's like a scene straight out of idiocracy.
I'm picturing him wearing crocs in the interview.
_Welcome to Costco... I love you. Welcome to Costco... I love you. Welcome to Costco... I love you._
Apparently, he had a stroke last year.
It's been going on for a long time.
He knows how it works but if he tells you revolution will come by the morning
I can't believe that this guy even has a JOB, let alone running the economy?!?!
He's a PAID LIAR.
The entire government is full of these types of people.
They have no moral compass.
he isnt lol, the banks are lol
It’s deeply, deeply, deeply embarrassing.
@@TheDiamond2009 He's NOT embarrassed. Offended by everything, embarrassed by nothing.
@meetontheledge1380 Factually, it is deeply, deeply, deeply embarrassing, but he’s not even remotely embarrassed. These people have no shame.
Extortion disguised as taxes
Without federal taxation you can’t have a monetary system nor can the central govt use the population to furnish it with resources.
👆🏻Nonsense.
There was no federal taxation until 1913, except for excise taxes and imports.
By law (Constitution), the fed gov can levy an income tax only during times of war, and only then for two years.
Furthermore- income and wages are two different things. So said the U.S. Supreme Court.
@@michaeldalton8374 ever heard of permanent wars?
Another guy who paid his way threw college
Rand Paul has been on the house floor yelling about this for 3 years .
*Senate
His father, former representative and presidential candidate Ron Paul has been yelling about this for 53 years. In fact, the closing of the "gold window" in 1971 was the reason he entered politics that year. He also wrote a book called "End the FED".
And Ron Paul for 30 years
Wait until you see how long Ron Paul has been yelling about this...
3? How bout decades.
Basically sums up the Biden administration.
No, it sums up the ruling class. Both Parties are complicit.
The West's economic policy from the 70s.
Since August 15th, 1971.
Hurry, and get yourself some bonds.
It's a 2 party system that blame each other for everything they do wrong. Straight gangsters. Bloods, n crips. They take orders from corporations.
We have an occupied government and we can't vote our way out of it.
You hit the nail on the head perfectly 😉
yep
😢😢😢
Bankers are King
Yes we can we just funny want to
My son had a teacher in High school that argued with him, stating that the Federal Reserve was a part of the government. My son stood his ground, even when the teacher tried embarrassing him. Another student finally googled it and the teacher didn't even apologize. These our are educators.
Victory Day May 9, RT International. CGTN The Point-Hub-Heat, Reporterfy Media-Cyrus Janssen
So if you can just print money. Why are there taxes?
A form of enslavement and overall punishment, not for generating revenue.
To ensure demand for the currency. Why do you demand your employer pay you in USD? Because you’re taxed in USD.
To prevent hyperinflation, there has to be a mechanism that removes money from circulation.
"Give me control over a nation's currency, I care not who makes its laws"
Taxes is what backs the printed (made-up) money. Banksters print a billion and give it to the government. The government vouches to beat taxes out of citizens to pay it back.
Do you all understand who controls the money supply?
Here is a hint:
Not the government, 1913.
Rothschilds
The FEDERAL reserve, aka an agent of the US Fed govt.
Thanks woodrow wilson
@@tedmaloof234
It is more than just them.
But yes.
Marxist apologists, Wolff and Dore, are so cute together.
The 5th Plank of the Communist Manifesto written by Marx, calls for the creation of a Central Bank.
The Federal Reserve you both are blaming is a Central Bank.
Let me guess, the Fed isn't a true real representation of Marx's pure philosophy, and only if you both could institute a pure model of a Central Bank that Marx envisioned, it would work?
Right?
You know you have the wrong guy when he says his own job is "confusing"
He has the last name. I'm sure it's not a real last name.
Bet he’s not that incompetent when his salary depends on it
… thearte by all means
@@meetontheledge1380 No, you occasionally find a black guy that can’t dance and a Jew that has no monetary sense…lol…
@@abc33944 exactly....folks. THEY KNOW.
He is from them too!!
So why bother explaining this to the public and make them aware.
When they can continue to rule by keeping us in the dark!!
This war has brought a lot to light!!...who is actually ruling us!!
That’s what liars do when they don’t have their lies prepared for questions.
nah its straight incompetence lmao, how can you not know that ?! like if you can print money, why do you have 35 trillions of debt 🤣🤣🤣🤣
@@Frenchy78ify Because printing money does not magically give it value. The more printed the less value it has. Only 8 trillion of those dollars of debt is to other nations. The rest to within our own borders. How can you not know that lmao. 🤣🤣🤣🤣🤣
@@galadrielwoods2332 you're not making sense, I was not talking about you anyway, you took that personally weird huh
@@galadrielwoods2332 the point is HE is incompetent and the US would NOT have 35 trillions debt if they really print their own money as he said
@@galadrielwoods2332the US would not gave 35 trillions of debt if they really did print money themselves, that's the real answer
1969, grade 9, I asked a teacher how every country could be in debt. He said read about Jeckle Island and the federal reserve. I asked about civil rights, he said read "Black Like Me." Asked about WAR, read "WAR is a Racket."My Dad told me "Reading will never get you anywhere." 💫🤔🌍✌
Smart teacher.
after 9/11 in 5th grade my class was asked if we'd rather have safety or freedom - I knew something was DEEPLY wrong back then
“Jeckyll Island” is nonsense.
If you’re serious about learning macroeconomics in modern world read “the deficit myth“ by Stephanie Kelton, who was mentioned in this video.
@@UFOcomputers Not good enough. How is Jekyll Island nonsense?
They don't print money, they just add zeros on a keyboard entry.
The Fed does. Which is pretty much a collection of private banks. Which then loans it tot eh US, because the US pays interest on the loan. Why woulds banks care? As long as domestic and foreign investors get their interest rates paid they are not going to give a fuck about the national debt. Same trick credit card companies use on American consumers, buy off one credit card with another. Eventually you might have to default on your debts, but what do they care? It's just numbers, declare bankruptcy, and do it all over again. or can't default, they'll take what you own. They made money again. Can't avoid having debt, that's what the credit score is for. They make sure you need it, or you can't even do so much as rent a hotel room.
Ha ha, remember when the nuke codes were just, zeros? 🤗
More hundred dollar bills are printed in China than here. And yes they ae as bogus as ours.
that's what the phrase printing money means these days.
You dont have money, you just have numbers in your bank account..
If you can't explain a "concept" to an elementary school student, then your "concept" is BS.
He can, but it will expose the trick
@@rudigerderudder5430 - Which truck is that? I know / do you ?
I was a D student and even I know if you endlessly print money, you devalue it.
Hearing him say. "We cant go bankrupt cuz we print our own money" made my head spin.
Technically true but your money ends up being worthless due to inflation
@@grantperkins368• FALSE
One dollar is always worth ONE DOLLAR. No matter the size of the money supply one dollar will NEVER be worth more or less than ONE DOLLAR. The national money of account (the dollar) is not at all like a commodity, which can change in value. That’s because the dollar is what is used to measure value, and not something of value at all in and of itself.
Commodities are not a threat to currencies because commodities are bought and sold with currencies.
Does it not take more dollars today to purchase the same product fifty years ago? Is that not devaluation of the dollar.
We are being led by “experts “. What could go wrong??? 😂😂
They should just print my portion of taxes. I just don’t feel like paying them.
Aaahhh no, that's the beauty of MMT: you're forced to pay taxes un USD to create an artificial demand for them. Thus you're forced to accept dollars in exchange of your goods and services, and you're forced to keep a gooh chunk of your savings in USD, even thougt the value of those savings is constantly eroded via inflation. If the gov't stopped demanding taxes in USD, people would start demanding silver, gold or even bitcoin as payment, as opposed to a fiat currency that's constantly losing value
lol. I 'identify' as a non tax payer. That should work, within the woke ideology framework.
Why didn't she ask why we have to pay taxes to the government if they can print money?
It's our taxes that pay back the loans.
@@vmax4steve524yeah, that’s the problem. We don’t need to borrow money created from thin air. We are unnecessarily putting ourselves in made up debt. It’s a scam, and a game. We can build a better and fairer game that doesn’t impoverish entire generations.
Because your money would instantly become worthless due to hyper inflation.
Taxes legitimise the currency
That is the real question. We work for a currency that others just print. Then we pay taxes on the funny money.
What a Tangle Web we weave When when We practice to Deceive
Jimmy Dore show is getting better and better
One family owns half of the world’s wealth. That’s is everyone’s problem in the whole world.
and what do people do about it? nothing, so enjoy
@@veritasaeternadon't you mean sheepeople
The Rothschild's. But it's worse than that. One group owns all of the banks. They wear tiny hats.
@@veritasaeternawell people arent doing anything about it... yet.
People are generally only as civilized and controlled as their environment and situation allows.
The desperation to "do something" drastic and correct the imbalance simply isn't there yet.
You can't exactly predict when that critical mass is reached (just like you couldnt predict the overthrowing of king louis xvi or what happened in early 20th century Russia) but you can certainly see the markers.
@@scroopynooperz9051 even if they do something it wont be to those that caused this as usual, history always repeats
Biden's entire Admin is feckless. Yellen is so useless that she makes me cringe when she spends 20 seconds saying a basic sentence.
When Professor Wolff said she was a friend in another part of the interview, I wanted to ask him why he doesn't suggest to her that she looks like an a-hole going to China and telling them what to do.
She facillitates the money laundering scheme as the bond transferer
she isn't useless, that's the scam. she's very intelligent and is doing all this on purpose. it takes her so long to put together a sentence because she has to think carefully how to put everything so she comes across as incompetent rather than criminal.
Kamala too...
This is far bigger than the Biden administration
We're officially living in Idiocracy.
Best segment you've ever done! What a revelation to everyone! They are coming fown SO HARD on the protesters because they are afraid EVERYONE will find out and say NO MORE!! You ROCK, Jimmy!!
Bureaucrats doing the job of merchants, and merchants doing the job of bureaucrats.
Reminds me of people who don't know what women are.
He is part of that party...
@@ringlord555 ~ I'm not surprised.
I showed that Bernstein clip to my brother and he said it was satire. I said, no no it's real.
The government doesn't print money. An international bank called the Federal Reserve prints money and loans it to the government.
Shouldn't it called extranational? We know nations doesn't exist for those people.
From the money "printed" by the FED (Private Banks not Federal agency) the FED makes a fixed percentage
Yes.
The video established that.
You’re not adding anything new here.
Get yourself a juice box and sit in the corner
@@theogonia1983 Calm down and change your tampon.
@@theogonia1983 The economist in the video lies repeatedly by saying the government mints money, as if he is under the mistaken impression that the Fed is part of the Federal Government. The key question is who receives the newly minted money - it doesn't go into the national budget, instead it goes into private bank accounts.
"Exposing what is being carefully hidden" - perfect.
u nailed it....
This is the same guy who gets paid six figures while the economy fallsapart.
Six figures won’t buy a loaf of bread in a few years. Get crypto before it’s too late.
He's not in it for the salary, he's in it for a spot on the lifeboat
Six figures? You've got to be kidding! Seven figures? Eight figures? More likely.
@@genfiveten595 More like he's in it for a pass into their tunnels.
@@miked.7245 cypto, if you want your money stolen directly by a tribe member instead of the Federal Reserve
This explains so much, I literally swore for like a minute straight...
I need a sound proof room, and a drum set. That should help me cope with the coming schlacking we’re about to take. Oh, I forgot. I don’t have access to the printer to buy the necessary equipment. I’ll just keep pretending that everything’s fine. It’s going to be fine 👌
Money. The greatest invention ever - a way to non-violently take surplus away from a worker.
There's a three stooges bit where a 20 dollar bill gets passed around because one says 'oh, you owe me 20 bucks, and then another says, you owe me 20 bucks' and after it gets passed around a few times, larry says 'ok, now we're all payed off'. We should do that.
That's basically how the Social Security trust fund works.
I used to know a guy that was like that in real life. I did $100 worth of work for him and he did $80 work for me. He couldn't just give me a $20 and call it good.
He had to pay me the $100 and then I had to pay him back $80 so that he didn't feel like he got cheated.
This is embarrassing to hear. I've spent all my life in the banking industry. I explained these to clients and my employees. My employees can explain it. I would say that the majority of Americans don't understand the Treasury role vs Federal Reserve. I get it. How in the world does he not understand how the monetary system of borrowing works? Remember that Yelen was unaware that inflation was coming. Who are these people? Clowns.
hahahahahahahahaha, you think these people dont know????? Geesh, some people fall for the worst actors. If simple minded person like me gets it, THEY GET IT. THE PRETEND to gimps like you and me that they dont "get it". At this point, why do we even take this seriously?
i used to think they were lying, now I just think they're actually that dumb.
@@kaleiohulee6693 some are dumb. Most are "smart" enough to play dumb to keep their jobs.
Middle management.
If you've ever been above managers or gad your own buisness and employed managers you will understand hiw usless 99% of them are
And why do you think inflation was coming?
END THE FED! remember, not that long ago, when 1000's of people where marching around yelling that and the press, the political parties and most of America chose to either ignore it, make fun of it, or simply did not have the capacity to understand why that was so important? I have written in RON PAUL every election since.
We need to audit the fed and go back to the gold standard. unfortunately the FED is the only thing keeping this train on the rails currently. We also need to put the US budget in its entirety on a ledger of blockchain for anyone to review at any time. Anybody with half a brain knows these two things would fix 90% of our issues. We will never be able to pry the control away from lawmakers that could enact these changes.
@@noahziegler3478is desperate for a major and permanent depression because doesn’t understand the difference between the govt sector and the private sector.
“End the Fed” conspiracy nutters have as much understanding of monetary operations as the fool in the video.
Log off, silly person.
All the Fed is is a massive clearing house for the trillions in daily transactions. Stop with the nonsense conspiracy theories.
@@noahziegler3478Rubbish. “Going back to a gold standard” would result in a massive and permanent great depression. How the christ is that a good idea??
And the Fed is audited annually already, you fridge magnet.
This is beyond bizarre
Look at this guy’s resume, he was a music major in college. Masters in social work. Never ran a business or has an economics degree.
They want them just smart enough to read a script but not enough to question who wrote it and for what ultimate purpose.
@@JooT00b-bm1ms 54% of Americans read below a 6th grade level
just like the rest of the biden admin.
No.The Federal Reserve prints money.Not,an entity of the government.
"Let's be clear"would be the appropriate phrase here.
Money is actually a very complicated process in the global economy.
While the Fed prints “bank reserves” which we might consider money, the numbers on our bank accounts are M2, and lent into existence by the banking entities themselves.
If you look at M1 vs M2 money supply, you can see right now M2 is going down while the US continues to accelerate its bond issuance.
This should be clear to most that the money supply that we all experience is not actually controlled by the Fed as much as they want you to believe it. It’s controlled by the global banking sector and their trust in each other to pay each other back. If that trust worsens, M2 stops growing.
I'm trying to follow what you're saying but I'm not well versed in these things. So, the Federal Reserve, which isn't Federal but private banks, prints the money but has to contend with the large entities that purchase the bonds? The Federal Reserve does have enormous power but the powers that purchase the bonds also have leverage on the Federal Reserve? So, China can apply pressure to the Federal Reserve bc they can refuse to purchase the bonds?
@@olliefoxx7165 It’s important to separate out China the government from Chinese banks and private industry.
If you are a Chinese factory and buying materials from Africa, you are doing so with dollars by choice, not force. That’s because you can go to a Chinese bank and ask for a loan in dollars, and they will grant it to you at a low interest rate. When the Chinese banks writes you a loan for $1M USD, they created that $1M.
You then buy your materials from Africa who takes the $1M payment in USD. They don’t want to sit on dollars that don’t accrue interest, so instead buy US Treasuries with the dollars you paid them. This is because they now get interest AND are an asset. So the African supplier now has $1M in USTs and goes to its African bank for a loan and the African bank lends them $1M USD based on the $1M USTs they have.
So as you can see, the Chinese bank created $1M and the African bank created $1M both in USD. All based on trust. This is the global financial system, and it’s bigger than the Federal Reserve itself by likely hundreds of times.
if by "print money" you mean create dollars out of thin air, which nowadays is always done digitally by increasing the bank balance of the entities selling them the bonds. Printing of physical currency is done by the Bureau of Engraving & Printing inside the Treasury Department, and they can only print as much new currency as they destroy old currency.
@@olliefoxx7165The most important thing to remember here is that the Federal Reserve is a private entity, and private banks run the economy. That ain't democratic at all.
If you let anyone in the administration talk long enough, their incompetence will become evident.
"Let me issue and control a nation's money and I care not who writes the laws." ~ Mayer Amschel Rothschild, 1790 AKA: The (private) Federal Reserve
Mayer Amschel Rothschild, the founder of the Rothschild banking dynasty, is often attributed with the quote: “Give me control of a nation’s money and I care not who makes its laws.” This quote suggests that the control of a nation’s financial system is more significant than the control of its political system. Another related quote attributed to Rothschild is: “I care not who controls a nation’s political affairs, so long as I control her currency.” These quotes highlight the influence and power of financial control in a nation.
When you are financed by a fiat economy,the debt is bottomless 🤫
It prove money is bullshit.
FALSE. Don’t be thick.
Unscripted questions suck ! When you are a bought and paid for asset for and by the system !
That “Doctor” just re-hid the secret that was “so carefully kept” . Well played sir
I feel so much more confident in our financial system with Jared at the Helm.
🤑😂🤑😂🤑😂
“End the Fed” by Ron Paul. It's a book every American should read. Research Ron Paul. He's been calling out the Keynesians, the Fed, and Modern Monetary Theory for decades.
lol no
@@henrygustav7948
Keynesians BUILT this country into a superpower
and let its citizens come along for the ride
but now, you have people like Paul in charge of spending
and we're in the toilet
he may be a fruit loop in regards to economics
but still have respect for Ron Paul
@@henrygustav7948Your ignorance is glaring.
Ron Paul is incredible... just I do not believe the gold standard is feasible anymore at all.
@@henrygustav7948 lol dead brain cells
" America has idiots running the country" - DJT 2015
This guy has a masters in social work. He's totally qualified to be the chief economic advisor to the president.
We borrowed our money through the printers, and the FED charged us interest and taxed us at the same time.
Usury 101.
Don' t worry. The adults are in charge .
If taxpayers could vote for the head of the Fed, Richard Wolfe would be my vote.
Ron Paul, to end it.
I am happy to see that you got Professor Wolf into your universe! You guys are spreading truth, knowledge and common sense and you should work together more! 👍👍👍
Government prints money? No they borrow the printed money… Blood money 1:36 And he doesn’t know? That’s funny!
This is why we should have never left the gold/silver standard.
Probably. But now that they’ve literally inflated the degree of digital dollars to the point where there isn’t enough paper, let alone gold, to back it, what can be done? Time to go back to agrarian times. A solar flare wiping out the “cloud” can’t happen soon enough.
ENTERING the "gold standard" is just doubling or tripling your hoard of gold with IOU's and super sure pinky promise that if you create more value, it's by releasing the gold into circulation.
What actually happens is that gold hoarders trickle feed it out in a ridiculous pyramid scheme, and you mooks think it eventually runs out, some time between now and heat death of the sun, flipping the power back into YOUR hands.
It's extremely difficult to inflate a money system that is gold and silver.
In 1971, after a rush on conversions of dollars for gold, Nixon abandoned the Gold Standard.
gold standard doesn't work either and it was proven way back in Roman times. those that make the money lie about how much gold there really is.
The debtor is slave to the lender according to the Bible. If you outlaw the institution through the front door you bring it back in through the back door. Our debt was created on purpose and that’s why we can’t get rid of it.
If we print our own money why do they tax us for money?
Clownworld.
ON STERIODS 👀🇺🇲😬 🤡
Technically, our national debt is already at a point in which it could never be paid back
The debt ceiling at this point is a literal fantasy. It's numbers that have no meaning.
They could quite easily vote that the debt ceiling be lifted to infinity... And the only difference would be suddenly people realize exactly how stupid it is.
that is why you are trying to start world war 3
Total US debt is over 250 trillion.
Yes, there is no return.
It’s too bad Prof. Wolff had to leave just as it was getting interesting. I’d like to hear him explain why we can’t just print the money. And I’d like Ron Paul to answer the same question.
If we print our own money why do we pay income taxes.
This dudes level of incompetence explains every bill the federal government has passed in like 25 years
“It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.” - Henry Ford
All the “debt” basically is are savings accounts at the Fed in the form of interest bearing treasuries. How does the 🇺🇸 govt meet the principal & interest of bonds at maturity? With the proceeds of NEW BOND SALES. Guess you haven’t noticed that there is ALWAYS a demand for US treasury bonds as they are always ALL sold at auction (the fact that primary bond dealers MUST bid on securities doesn’t hurt). People want these bonds because they understand that US securities are the safest place to save U💲D & they pay a little interest. Corporate interests & the wealthy adore them.
1st, the biggest mistake people make is assume inflation is the increase of prices. The correct definition of inflation is the loss of the purchasing power of the currency. The increase in prices is a symptom of that.
Always a thumbs up and comment in support of the entire cast of the show! Thank you for showing the Futility of the System in which we are forced to live.
What frightening is that he isn't even a diversity hire
He's a nepotism hire
That just shows how dumb people have gotten over the years.
If he tells the truth the scam gets exposed and he knows it. He forgot the complicated lie they construct to distract you
What? Do you think it's Walmart? There's no diversity in the upper echelons of economy, finance, media etc... Only one chosen type is allowed...
Diversity of IQ
This guy just said it lends money by selling bonds (complete opposite) 😵😵😵Holy molly we are doomed.
Jimmy, you are a top tier researcher and reporter. You not only exposed that imbecile, but you enlightened your audience on how it really works!
If we want to stop these wars, we have to end the FED!!!
Everybody should be talking about this and everybody was when Dr. Ron Paul was running for President! ❤
Same reason a counterfeiters don't keep their own money. It's worthless.
Or, we can just get rid of government and taxes altogether. None of it goes toward any intended or worthy purpose.
I second this but everyone else seems to be in a bubble
You realize Jimmy and Dr. Wolff are socialists, right? Getting rid of government and taxes would be entirely antithetical to their ideals.
That thinking is probably treason. Or antisemitism, or something. 😂
If we stop paying our taxes, we take the power back as they can’t imprison everyone at once, then we tell them who we want to deal with
@@simonslaughter6098 They can just print money to build prisons to put EVERYONE in.
Holy shit a year 1 Economics student could explain this better. Wow
He literally said it backwards. Selling t-bonds is BORROWING money, not loaning it. The federal reserve prints money, and then the treasury BUYS bonds with it, not sell them. He got it completely fucking backwards. How do I know this? I'm a HS dropout with no formal training in finance whatsoever.
@@LarsLarsen77
the treasury issues the bonds that the fed buys
which then allows the treasury to PRINT the money from the sale of those bonds
if a conservative economist had said the same thing you would have agreed with him
only fools ignore a message and focus on the messenger
fools, and sheep...
and how US pay their debt? CIA cause war on those country, seize they assets, like russia 300billion, and all the US debt on russia been wipe out
@bipolarpunt5721 it's called chutzpah.
@@LarsLarsen77
wow, they censored my comment
here goes again
the fed "buys" bonds from the treasury
the treasury then PRINTS the money from the "sale" of those bonds
actually, you got it completely fucking backwards
how do I know this, I'm not blinded by partisan BS
When you print money. You print debt. That's what money is .Its a note promising to pay a debt. Debt is paid with labor or time. No money means there is no debt.
"Voting is like trying to self-suck - some people think they can do it, but most end up just spinning in circles!"
Wow. The president appoints the head of the Fed...I thought it was the other way around! Imagine that, how silly of me.
All by design.
I’ve known this for 24 years! Where are people
If they could just print the money, stop taxing us
this is mental mathematics gymnastics... olympic style!
Step A. Print 80 billion dollars, give it to Ukraine and Israel
Step B
Step C. Profit
C. Just for the rich.
“Yeah, yeah, yeah, but what’s Phase 2?”
Wish it were underpants
@@dff19707BlackRock aquire Ukraine oil fields .
Israel monarchy owns Blackrock
@@dff19707Step A is wrong anyway.
The US government does not mint its own currency. Instead it sells bonds to private bankers, meaning the government borrows their private banker money and promises to pay it back. The only way they can pay it back is by borrowing more money from the bankers in the future. So the profit from minting money is granted to the private bankers and not the Federal government. It is an absurd situation but it's the reality of our economy. I would say this means the US is enslaved to private bankers by an infinite debt-cycle. There is no escape without taking back the right to mint money on the behalf of the people.
Wow that guy is a great teacher. Explained it very well. Jimmy that’s why I love ya. You bring on the best!
you don't need professors or economic advisers. A mathematician can solve this problem in 2 minutes. Thats why governments don't employ mathematicians.
Wait... have we all been pretending to know how our money works.. oh shit
The system was designed to be complicated so you don't pay attention to the scam.
“Jou know what capitalism is, Mane? Gettin fucked.”
~Tony Montana
This is why I always say no matter what you believe in.... Healthcare for all, defense, protecting the borders, low taxes.....
Until we fix our monetary policy, your ideas will be naught.
He can’t explain it because it’s all a sham.
He's been taking elocution lessons from Biden 👍🏻👍🏻👑
Thanks for the great content Jimmy and I loved seeing your show in Rotterdam!
We've all entered into the 2nd Dark Age.
All the rest of the jews have voted him out of the tribe
Why?
I doubht that
The U.S. government has really dug itself into an inescapable hole. This excerpt from your live show is so very funny! You guys were on a roll.
To anyone in awe of so called professors. Watch this guy!!😂
It looked like a parody of an economic advisor
When I first saw the clip, on WSB I actually thought it was a parody skit.
Paul Moritz Warburg, a German-Jewish immigrant who was one of the founding fathers of the U.S. Federal Reserve.
They’ve always adopted local sounding/friendly names and they often pretend to be Christian or Catholic in order to infiltrate the country they move to.
The Rothschilds did this and so did Moses Mordechai Levi aka “Karl Marx.”
Wiki-CIA-pedia would have you believe that Karl Marx converted to Christianity but without supporting that claim with any solid proof. They also won’t mention that his grandfather was a famous rabbi.
The father of transgenderism also jewish
The same Warburgs who funded Hitlers war, alltogether with Rockefellers Standard Oils additives for the fuel, without no tank would have been able to biltz the blitzkrieg..and if I am not complete wrong , was Rockefeller too involved with the Fed?
Always the Zews lol
Please
This man is embarrassing to call him a economic adviser.
Blaming the Federal Reserve for our debt is similar to blaming a credit card company for your personal bankruptcy. I wish people would stop. It takes the focus off the actual problem... the politicians that spend the money.
The idea of printing something out of thin air as 'debt' is sheer genius by a certain group.
"BRICS member countries will switch to national currencies in their trade because of Joe Biden's policies."
~Marjorie Taylor Greene, U.S. Congresswoman
Except it nothing has to do with Biden.
Can imagine him having a sit down conversation with Joe!!