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(CNBC)   Steve Forbes slams Central Banks for not focusing on shoring up currencies, which would only help rich people like him protect his assets. Poor guy   (cnbc.com) divider line
    More: Dumbass, United States dollar, Inflation, Monetary policy, Bretton Woods system, central banks, Foreign exchange market, Exchange rate, Central bank  
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278 clicks; posted to Business » on 26 Sep 2022 at 7:35 AM (18 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



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2022-09-26 9:35:43 AM  
3 votes:

NewportBarGuy: Chief Superintendent Lookout: Remember when this dork ran for President?

[tse3.mm.bing.net image 474x474]

"under a Flat Tax, you nasty filth pay all the taxes and I get to keep everything I have! hahahahaha"


Don't blame me.  I voted for Pete DuPont!
 
2022-09-26 7:53:03 AM  
2 votes:
Remember when this dork ran for President?
 
2022-09-26 7:25:27 AM  
1 vote:
Trust fund babies are the backbone of our economy  now.
 
2022-09-26 7:55:53 AM  
1 vote:

Chief Superintendent Lookout: Remember when this dork ran for President?


tse3.mm.bing.netView Full Size


"under a Flat Tax, you nasty filth pay all the taxes and I get to keep everything I have! hahahahaha"
 
2022-09-26 9:41:14 AM  
1 vote:
What are talking about? He's a normal guy!

Fark user imageView Full Size
 
2022-09-26 11:25:10 AM  
1 vote:

hoodiowithtudio: OptionC: D135: I can see how the FED buying up other currencies and selling USD could help reduce the strength of the USD vs other currencies... but I don't see how that fights inflation except in maybe some roundabout way regarding imports. If someone has a walkthrough they can provide for dummies like me that would be great.

It would literally raise the cost of imports, increasing inflation - the upside of the strengthening dollar is that imported stuff gets cheaper.  The downside is that export industries get crushed.  Doing things to weaken the dollar (like buying foreign currencies) helps exporters but increases consumer inflation.

The whole article is just a bizarre, logic-free attempt at justifying goldbug nuttery.

D135: ALSO... going back to the gold standard would strengthen the value of the dollar wouldn't it?

That depends?  If they were to set the price at, like $1M per ounce, everyone would rush in to redeem their gold for dollars, causing a huge burst of inflation.  If they set it to $5 per ounce, everyone would redeem their dollars for gold and we'd get huge deflation and also the Treasury would run out of gold.  If it was set to the current market price, things would be pretty normal until the next financial crisis or some complicated exchange rate arbitrage opportunity popped up and then everyone would rush to the gold window to redeem dollars for gold and then we'd get huge deflation and also the Treasury would run out of gold.

It's all extremely stupid.

Having gayfinite currency helps noone.


Erm...finite.
 
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