Isn’t this where the FED and it’s backers come into play? They make massive amounts from interest payments from money that we printed. Basically, it’s a handout to banks and the biggest transfer of wealth (given the inflation aspect of the printing) in the entire planet combined.
"Let me explain to you how this works. You see, the corporations finance Team America. And then Team America goes out and the corporations sit there in their, ih in their corporation buildings and, and and see that's, they're all corporationy, and they make money. Mhm."
He doesn’t need to know how it works - he’s only concerned with how it is distributed.
Doesn’t PedoJoe Biteme just go into the backyard of the White House and just pick some ‘leaves’ from the money trees planted there?
</sarc>
(Just added that comment in case any Dhimmicrats are having this read to them. We wouldn’t want to confuse them too much. Anyone reading this to a Dhimmicrat, please read S-L-O-W-L-Y, so they have a chance to understand.)
Don’t sell yourself short dude. Judging by the end results, nobody else in the Biden admin knows either.
This guy took fake until you make it too far.
The US government does not print dollars. It sells debt.
Money is created when a promissory note is signed - promising claims on the future labor of the debtor - or claims on the future labor of others that the debtor happens to own.
The US government is the debtor when it comes to US Treasury securities. That becomes money at auction when the debt is sold.
In other words, US debt is bought with existing claims on the future labor of others.
It's when individuals and corporations take out loans (promissory notes) that money is created and the money supply increased.
I’m better qualified than this idiot. I, at least, understand the relationship between inflating the money supply and inflation and the need to reduce the dollars relative to the economy to bring inflation under control.
Just like the resident in chief
Money is any object that is generally accepted as payment for goods and services and repayment of debts in a given country or socio-economic context. The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, occasionally, a standard of deferred payment.
Money therefore could be anything of value eg cotton, tobacco, cattle or goats.
This guy has been spouting economic mush for decades. Ask him what causes inflation. “High prices”, he says.
That’s like asking a doctor what causes fever and he tells you high body temperature.
Frauds in high places all around.
Money is stored labor.
The gover mint printing it money tree style is stealing from the private sector labor value.
15 dollar hamburger joint jobs did not fix it, they are idiots.
Milton Friedman isn't running the show anymore.
Well that clears everything up.
Probably not a good idea to do an interview after a 3 Martini lunch.
Bernstein is a social worker. Never was an economist. Perfect guy for the job.
Gee, why is that not even surprising that an incompetent person is placed in a position he knows nothing about in reality?
Reminds me of Ketanji Brown Jackson who couldn’t define what a woman was because she wasn’t a Biologist.
An economic advisor doesn’t know how money works? Amazing... Not surprising considering the education system in America!
I’m not surprised. At all.