Freedom Of Information Act Request Ignored

[FC]

If you remember, I put in a Freedom of Information Act request, but it has thus far been ignored. I wanted a figure on amount of money printed in excess of cash destroyed. I'm not surprised I have gotten no response.

[Dr.Hess]

There are probably no real numbers, Tony. At least not the ones you are looking for. Dollars are no longer "printed" into existence. They are "loaned" into existence, as we discussed before. What makes it even more obscure, the Federal Reserve is a private banking system. They "loan" money into existence to the Federal government, which then has to pay interest to the banks, on our own money, that didn't even exist before it was "loaned" into existence.

 

I heard a rumor, no idea if it's true or not, that Kennedy was going to do away with the Federal Reserve system. Two weeks later, he was dead. Purely coincidental, I'm sure.

[FC]

So money is printed, then loaned? Amazing. I'm sure the states wish they could print their own paper.

[brokengun]

FC, I believe that what you requested is called the M3 money supply and the Fed No longer makes that info available.

 

By knowing the M3 money supply figure you would have a direct correlation to the true inflation rate.

 

I think the best guess number is currently 16% more money is being printed than is being destroyed.

 

Or

 

16% more money is being added to the money supply currently

[Dr.Hess]

FC, it's never printed at all. It's just loaned into existence from nothing. It's like this: You want to borrow some money. I say, OK, I'll loan you $1000, that is, I give you $1000 credit. You now can go around saying you have $1000 to spend, and go ask Dr.Hess if anyone doesn't believe you. People sell you stuff, you write a check or use a credit card, you give them "money" from me. No paper money ever changes hands, it's all electronic and none of it is real. The O just spent a trillion dollars. None of it was ever printed. Just "here's your million, go have a good time," and the "money" is transferred from one account to another. As long as you believe that someone, somewhere has the money to back it up, then the money is real. No one has to have the money, you just have to believe that it is there somewhere.

 

Yeah, they stopped reporting M3 a couple years ago, getting ready for this depression. Can't be telling the peons what they're doing, now, can they?

[karlunity]

When I teach the kids about the history of paper money and comparative value, it goes like this:

 

When I was in 7Th grade (1963), a can of soda was 12 cents, a comic book a dime and a bar of candy 5 cents.

 

I then ask the kids what they pay:

Soda..70 cents..comic book a $ 1,50 , and 65 cents for a candy bar.

 

I figure that the rate of inflation, since 63, Johnson, diluted the coinage, is about 700 percent.

 

A 1964 dime now sells for $1.50 so it may well be worse.

Heck, gold was $35 an oz, now it is almost a grand.

karl

 

 

 

Karl

[FC]

Last I heard gold was just over $1100 an ounce.

 

Remember 22 cent gas?

[Dr.Hess]

Yeah, I've done some in-my-head calcs lately and I figger that we've had about 5% annualized inflation since the 60's, based on things like the price of a car and a motel room. Remember that Motel 6 was Motel 6 because they charged $6, and Super 8 was $8 in the early 70's. I remember my dad buying a brand new 1964 Chrysler for $2K.

[karlunity]

Try this:

 

Most men made about 60 a week,about $3120 per year in the early 1960:

Mom was at home with the kids.

Most had a house and a car and a BW tv and washing machine.

Some money in the bank, just in case, and two weeks off a year.

 

Now the national ave is about $35.000

Mom has to work.

If you do have a house, the payments are high.

You have a car and a computer and lots more toys

BUT

No money in the bank,as compared to Credit card debt.

You get more "family time" but need a second job to pay for it.

 

Karl

[Dr.Hess]

I have thought this out a lot, Karl. Consider this: In the 70's, women were told that they were oppressed because they were not "allowed" into the work place and not "allowed" to work. They had to stay home and take care of children. They needed "liberating." Now they have to work so the family can get by. No option, really, they are forced to work to support their family. So, being forced to work "for the man" is somehow "liberating" and better for women than sitting home and taking care of the children? Then you throw in that "they have a right to do what they want with their body" which somehow means it's OK to murder your child, as long as you do it fairly early, and we have a recipe for our own demise.

 

What do women want today? They want to stay home and take care of their children.

[AzRednek]

I remember my dad buying a brand new 1964 Chrysler for $2K.

 

I remember my dad pissing and moaning to a neighbor that his new 59 Ford was costing him close to $90.00 a month for two years, about $20 a month more than the house payment.

 

Remember 22 cent gas?

 

Not only 22 cent gas but they pumped it and washed your windshield. For a fill-up they gave away everything from flashlights for dad, fancy glassware for mom and my favorite as a kid was a token for a free ride on what I called the Flying Red Horse. I really thought it was cool riding Mobil's horse that had wings. When I couldn't talk my older brother out of his token he'd use it to get a comb.

[FC]

Well said Dr. Hess.

 

Mobil horse- bet that'd be worth a pretty penny now!