If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(Seymour Tribune)   Man emulates the fed and keeps printing money. Quickly learns they don't like competition   (tribtown.com) divider line 73
    More: Spiffy, printing money, Cumberland County Jail, Falmouth  
•       •       •

4847 clicks; posted to Main » on 31 Jan 2014 at 9:34 AM (30 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



73 Comments   (+0 »)
   
View Voting Results: Smartest and Funniest

First | « | 1 | 2 | » | Last | Show all
 
2014-01-31 09:39:27 AM
Only the federal government can legally make counterfeit money. Never forget.
 
2014-01-31 09:39:48 AM
tvisual.org

Looks legit
 
2014-01-31 09:41:06 AM
He's being held at the Cumberland County Jail on $5,000.

Don't worry, it's not real money.
 
2014-01-31 09:41:55 AM
What is it with conservatives who don't understand what money is or how it works?
 
2014-01-31 09:42:51 AM
If you have no morals and want to print money just become a televangelist.
 
2014-01-31 09:46:28 AM

Hollie Maea: What is it with conservatives who don't understand what money is or how it works?


You know had to be a conservative, he was actually doing work and not waiting on check from the gov't.
 
2014-01-31 09:46:32 AM

Hollie Maea: What is it with conservatives who don't understand what money is or how it works?


Notsureifserious.png
 
2014-01-31 09:47:50 AM
FTFA: It's unclear if he has a lawyer.

Why do articles always make some mention of representation in things like this?  If they are aware of representation, in non-sensational cases, they rarely say anything about it.
 
2014-01-31 09:50:56 AM
$20?  dare to dream
 
2014-01-31 09:51:54 AM

cman: Hollie Maea: What is it with conservatives who don't understand what money is or how it works?

Notsureifserious.png


I'm sure you're not.

If you are whining about the fed "printing money", you don't understand money.

Precious metal backed currency is not money. It is an extension of the barter system.
 
2014-01-31 09:52:04 AM
Feds' been loaning the US govt 80 billion a month for the last 14 months.   (oh yeah!)
 
2014-01-31 09:53:57 AM
How is this spiffy, Subby?
 
2014-01-31 09:54:27 AM
if they can print money out of thin air i should be able to
 
2014-01-31 09:56:56 AM

Hollie Maea: cman: Hollie Maea: What is it with conservatives who don't understand what money is or how it works?

Notsureifserious.png

I'm sure you're not.

If you are whining about the fed "printing money", you don't understand money.

Precious metal backed currency is not money. It is an extension of the barter system.


...seriously?

You do know where you are, right?
 
2014-01-31 09:57:07 AM

midwestatheist: if they can print money out of thin air i should be able to


Go ahead. Do you have anything to back it other than the hot air coming out of your ass? Or were hoping to print it such that people would be deceived into thinking it was the stuff backed by the full faith and credit of the United States?
 
2014-01-31 10:02:43 AM
"Police allege they found copy machines, more than $1,000 in counterfeit money, and a small amount of heroin in the basement of the home."

Sounds like a pretty sophisticated operation.  I can totally understand how he was able to pass these off.
 
2014-01-31 10:03:18 AM
To be fair, that fake million dollars isn't "worthless"; you could probably get the right buyer to pay ten cents on the dollar for it.

/feels sorry for woodhouse
 
2014-01-31 10:04:15 AM

Hollie Maea: midwestatheist: if they can print money out of thin air i should be able to

Go ahead. Do you have anything to back it other than the hot air coming out of your ass? Or were hoping to print it such that people would be deceived into thinking it was the stuff backed by the full faith and credit of the United States?


at least my ass has the hot air to back it
 
2014-01-31 10:05:13 AM

midwestatheist: if they can print money out of thin air i should be able to


If you can actually print money from "thin air," I'll buy some.
 
2014-01-31 10:05:20 AM

grinding_journalist: To be fair, that fake million dollars isn't "worthless"; you could probably get the right buyer to pay ten cents on the dollar for it.

/feels sorry for woodhouse


Why didn't you say so earlier?
 
2014-01-31 10:07:54 AM
Someone doesn't understand fractional reserve banking.  One word hint:  Subby
 
2014-01-31 10:07:59 AM
www.csaquotes.com

It's real to me...

......from the deeeeeep south of Ontario.
 
2014-01-31 10:14:34 AM
craphound.com

/oblig
//almost finished with it, don't spoil it for me
 
2014-01-31 10:16:57 AM

midwestatheist: Hollie Maea: midwestatheist: if they can print money out of thin air i should be able to

Go ahead. Do you have anything to back it other than the hot air coming out of your ass? Or were hoping to print it such that people would be deceived into thinking it was the stuff backed by the full faith and credit of the United States?

at least my ass has the hot air to back it


That it does.
 
2014-01-31 10:18:35 AM

cman: Hollie Maea: cman: Hollie Maea: What is it with conservatives who don't understand what money is or how it works?

Notsureifserious.png

I'm sure you're not.

If you are whining about the fed "printing money", you don't understand money.

Precious metal backed currency is not money. It is an extension of the barter system.

...seriously?

You do know where you are, right?


You're suggesting that I shouldn't be surprised to hear these ridiculous arguments because I am on Fark? That's all well and good, except that I hear these same things everywhere I turn, including when I am listening to interviews with elected farking officials.
 
2014-01-31 10:20:49 AM

Hollie Maea: What is it with conservatives who don't understand what money is or how it works?


Actually, his spending seems rather liberal.
 
2014-01-31 10:26:18 AM
img.photobucket.com
No Lawyer, then
 
2014-01-31 10:28:32 AM

Hollie Maea: What is it with conservatives who don't understand what money is or how it works?


A little knowledge is a dangerous thing. Emphasis on little.
 
2014-01-31 10:31:12 AM

Hollie Maea: cman: Hollie Maea: What is it with conservatives who don't understand what money is or how it works?

Notsureifserious.png

I'm sure you're not.

If you are whining about the fed "printing money", you don't understand money.

Precious metal backed currency is not money. It is an extension of the barter system.


You can't be serious.
 
2014-01-31 10:33:03 AM

Hollie Maea: What is it with conservatives who don't understand what money is or how it works?


well they don't understand climate change either. are you really that surprised?
 
2014-01-31 10:36:08 AM

FlashHarry: Hollie Maea: What is it with conservatives who don't understand what money is or how it works?

well they don't understand climate change either. are you really that surprised?


I always laugh when you try and pretend you are smarter than somebody else. Always. Keep up the good work.
 
2014-01-31 10:37:30 AM

MyRandomName: I always laugh when you try and pretend you are smarter than somebody else. Always. Keep up the good work.


lolwut?

are you saying that most conservatives have a deep understanding of the science of climate change? you know - the ones who claim that because it snows in february, climate change doesn't exist?
 
2014-01-31 10:40:02 AM
I don't back my money with gold.

I back it with guns, ammo, and an army of accountants and lawyers.

/funnily enough, even the Fed respects it
//there is power in promises kept
 
2014-01-31 10:40:14 AM

MyRandomName: FlashHarry: Hollie Maea: What is it with conservatives who don't understand what money is or how it works?

well they don't understand climate change either. are you really that surprised?

I always laugh when you try and pretend you are smarter than somebody else. Always. Keep up the good work.


He is a smart guy.
 
2014-01-31 10:43:04 AM

Hollie Maea: If you are whining about the fed "printing money", you don't understand money.

Precious metal backed currency is not money. It is an extension of the barter system.


Isn't money just an extension of the barter system? I get that money in itself is a commodity and if everyone printed their own it would be bad, but I'm not sure I follow your point there.
 
2014-01-31 10:45:19 AM

Pants full of macaroni!!: [craphound.com image 275x426]

/oblig
//almost finished with it, don't spoil it for me


He's a fraudster and he makes some money.
 
2014-01-31 10:52:14 AM
screenagekicks.files.wordpress.com

/oblig
 
2014-01-31 11:06:50 AM
Inflation Hawks have predicted 520 out of the last 1 spells of large inflation.
 
2014-01-31 11:11:00 AM
Doncha know subby, that money is for the banks and wall street.  Don't want it falling into the wrong hands now.
 
2014-01-31 11:22:03 AM
I wonder what would happen if I printed bits of paper that were of identical quality to Federal Reserve Notes... same paper, same quality of engraving, same anti-counterfeiting features... indeed, exactly like a real $50 except that (in the engraving) it boldly stated "NOT LEGAL TENDER". At no time in the printing process would it be "real" counterfeit currency...

How about if I printed precise $50s but with different colors of ink? Is the mere capability to print good counterfeits illegal?
 
2014-01-31 11:28:38 AM
The new $100 bill already looks counterfeit when you get it.
 
2014-01-31 11:40:20 AM
Guess it's back to trying to sell cocaine, then.


www.toonzone.net

Just don't forget to bring the guns.
 
2014-01-31 12:01:04 PM

SewerSquirrels: Hollie Maea: If you are whining about the fed "printing money", you don't understand money.

Precious metal backed currency is not money. It is an extension of the barter system.

Isn't money just an extension of the barter system? I get that money in itself is a commodity and if everyone printed their own it would be bad, but I'm not sure I follow your point there.


Alright...here is a primer (seriously, this is first grade stuff ) on what money is and how it works.

Money is a device intended to facilitate economic activity.  It greatly improves the efficiency of economic activity by allowing the two sides of an economic transaction to not happen simultaneously--I don't have to find someone who not only wants what I have, but also has something that I want.  That requirement is the main drawback of the barter system.

Precious metal backed currency attempts to improve on the barter system by getting everyone to agree to keep amounts of a specific valuable item, whether they need it or not, so that this can be used as a proxy for the item that they actually desire.  But under this system, the currency is still a valuable item.  Although many people today (who, incidentally, have spent little to no portions of their lives in a "precious metal" system) consider this to be a feature, it is actually a bug.

Since money is used to efficiently FACILITATE economic transactions, the most important job for it to do is to be as invisible as possible and stay out of the way.  When the currency itself has value, then it can become a distraction, with the transaction becoming all about the currency instead of being about the economic transaction it is supposed to facilitate. The two most obvious ways that a currency can get in the way of the economic activity it is supposed to facilitate are 1. If it is perceived that the currency will not represent as much goods and services when the economic transaction is completed than it is today.  This can lead to a refusal to accept the currency, which keeps the transaction from occurring.  2. It is perceived that the currency will represent more goods and services when the economic transaction is completed than it is today.  This can lead to hording of the currency, which also keeps the transaction from occurring.  Due to the intrinsic value of precious metals, which can significantly vary over time due to unrelated circumstances, metal backed currency is prone to disastrous failures of these kinds.  Examples would include, say, Spain discovering and mining a brand new continent full of silver.  Or a war coming along that makes it more profitable to utilize the intrinsic value of the metal than to have it tied up in currency.

The most effective form of currency that has so far been developed is to have an otherwise useless proxy object that represents someone's credit.  Obviously, in order for the currency to not become a distraction, the credit has to be constant, unwavering, and essentially inexhaustible.  So what is used is the credit of fabulously wealthy (wealth is not money, it is the sum of natural resources, and the productivity and ingenuity of a population) nation.  That nation, in turn, profits from extending its credit (the United States profits a great deal by being the world's reserve currency).  Although technically there is still a "valuable item" (the nation's wealth) at the end of things, it is a conglomeration, which makes it much more steady and stable.

Currency backed by credit can still suffer from the two problems I mentioned earlier if the credit is suspect, but also if the currency is not managed correctly.  The most important aspect of currency management is to ensure that there is just enough of the proxy item to facilitate all of the desired economic activity, and no more.  So the managers of the currency must react to external events to keep the perceived value of the currency changing only very slowly.  In the US, we choose to hire macroeconomic experts to manage the currency and to respond appropriately to external events.  Some of the actions they take can appear to the small minded to be equivalent to printing cash in your basement (the problem with counterfeiting is not that you are printing cash, per se, it is that you are attempting to deceive people into believing that something is backed by the credit of the United States, when it actually isn't).  In spite of the mocking of these efforts by people who don't understand money, the US Dollar is the most effective reserve currency in history.

Again, money should be invisible, serving as nothing more or less than a perfect lubricant of economic activity.  It is the focus on money, rather than actual wealth, that can lead people to say with a straight face that the country with the best land on Earth, with 300 million of the most productive people in history, with a perfect credit rating and that backs the most widely used reserve currency in history is "broke".
 
2014-01-31 12:11:11 PM

Hollie Maea: What is it with conservatives who don't understand what money is or how it works?


"But the extraordinary has become the norm. America's Federal Reserve is still printing money to buy bonds and has made it clear that it will not raise short-term rates at least until unemployment, now close to 8%, falls to 6.5%."

-- From The Economist magazine, Apr 6th 2013

When people say the Federal Reserve is printing money to buy debt, that means it's printing money to buy debt. While technically the Treasury department does the actual money printing, the Federal Reserve dictates whether to do it not.

This is basic information not some shocking secret. The Economist is not some fringe (left or right) blog, it's been in print since 1843.
 
2014-01-31 12:16:14 PM

JungleBoogie: Hollie Maea: What is it with conservatives who don't understand what money is or how it works?

"But the extraordinary has become the norm. America's Federal Reserve is still printing money to buy bonds and has made it clear that it will not raise short-term rates at least until unemployment, now close to 8%, falls to 6.5%."

-- From The Economist magazine, Apr 6th 2013

When people say the Federal Reserve is printing money to buy debt, that means it's printing money to buy debt. While technically the Treasury department does the actual money printing, the Federal Reserve dictates whether to do it not.

This is basic information not some shocking secret. The Economist is not some fringe (left or right) blog, it's been in print since 1843.


Again, the stupidity is in comparing the actions of the federal reserve to those of a counterfeiter.
 
2014-01-31 12:55:32 PM

CaliNJGuy: $20?  dare to dream


Chance of having a 20$ bill scrutinized:  Nearing Zero
Chance of any higher denomination:  Nearing 100%.
 
2014-01-31 01:22:23 PM

Hollie Maea: SewerSquirrels: Hollie Maea: If you are whining about the fed "printing money", you don't understand money.

Precious metal backed currency is not money. It is an extension of the barter system.

Isn't money just an extension of the barter system? I get that money in itself is a commodity and if everyone printed their own it would be bad, but I'm not sure I follow your point there.

Alright...here is a primer (seriously, this is first grade stuff ) on what money is and how it works.

Money is a device intended to facilitate economic activity.  It greatly improves the efficiency of economic activity by allowing the two sides of an economic transaction to not happen simultaneously--I don't have to find someone who not only wants what I have, but also has something that I want.  That requirement is the main drawback of the barter system.

Precious metal backed currency attempts to improve on the barter system by getting everyone to agree to keep amounts of a specific valuable item, whether they need it or not, so that this can be used as a proxy for the item that they actually desire.  But under this system, the currency is still a valuable item.  Although many people today (who, incidentally, have spent little to no portions of their lives in a "precious metal" system) consider this to be a feature, it is actually a bug.

Since money is used to efficiently FACILITATE economic transactions, the most important job for it to do is to be as invisible as possible and stay out of the way.  When the currency itself has value, then it can become a distraction, with the transaction becoming all about the currency instead of being about the economic transaction it is supposed to facilitate. The two most obvious ways that a currency can get in the way of the economic activity it is supposed to facilitate are 1. If it is perceived that the currency will not represent as much goods and services when the economic transaction is completed than it is today.  This can lead to a refusa ...


Printing money when the top men think it needs to be printed only hurts people who save, specifically poor and middle class people who see the purchasing power of their savings reduced, yet don't have the same access to the new money the way the rich.  This is SOOO much better than the possible problems of people "hoarding" tangible currency (metals, etc.)
 
2014-01-31 01:27:35 PM

pedrop357: Printing money when the top men think it needs to be printed only hurts people who save, specifically poor and middle class people who see the purchasing power of their savings reduced, yet don't have the same access to the new money the way the rich.  This is SOOO much better than the possible problems of people "hoarding" tangible currency (metals, etc.)


If you think that inflation levels have been too high recently, you might be a moron.
 
2014-01-31 01:31:53 PM

Hollie Maea: pedrop357: Printing money when the top men think it needs to be printed only hurts people who save, specifically poor and middle class people who see the purchasing power of their savings reduced, yet don't have the same access to the new money the way the rich.  This is SOOO much better than the possible problems of people "hoarding" tangible currency (metals, etc.)

If you think that inflation levels have been too high recently, you might be a moron.


If you think I said that inflation levels have been too high recently, you might be a moron.
 
2014-01-31 01:45:36 PM

Hollie Maea: Again, money should be invisible, serving as nothing more or less than a perfect lubricant of economic activity.  It is the focus on money, rather than actual wealth, that can lead people to say with a straight face that the country with the best land on Earth, with 300 million of the most productive people in history, with a perfect credit rating and that backs the most widely used reserve currency in history is "broke".


Perfect credit rating? Just who would that be? Not the USA any more.
 
Displayed 50 of 73 comments

First | « | 1 | 2 | » | Last | Show all

View Voting Results: Smartest and Funniest


This thread is closed to new comments.

Continue Farking
Submit a Link »






Report