Banning the $100 Bill

[Ben]

It all depends on whether you see yourself consuming some sex or being serviced.

That's why I never kiss 'em on the lips.

[Firethorn]

This is where you keynesians have it backwards- cart before the horse if you will...
Money changes hands because economic activity takes place, not the other way around.

Uh. Duh?  It's an indicator.  It's like your speedometer.  You get it to go higher by pushing on the gas pedal - which means that you're consuming more gas(resources being traded).  Increasing monetary velocity is a tricky thing.  I think the best way to do it is to get the frack out of people's way.

Dumping money on either one or both of the parties or taking it away doesn't make the arrangement more likely, it just makes them both more skeptical about the value of the money as an exchange medium.

Of course.  But just dumping money on people isn't going to change the velocity of that money, if you get what I'm saying.

[Ron]

Good point.  I'm a flavor of Keynesian, but I've never really seen my policies implemented.

Kind of like socialism and communism correct?

Great ideas that just haven't been implemented properly by the right people 

[Firethorn]

Kind of like socialism and communism correct?

Great ideas that just haven't been implemented properly by the right people 

Yeah, pretty much.  At least, unlike the communists, I can point out right where the problem is.

Due to politicians, the economy is always considered to be in a 'bad' mode and thus needing stimulus.  We never get around to poking holes in bubbles like we should.

[RevDisk]

Keynesian economics is dangerous not because it's inherently wrong or evil like communism. It tells politicians they can have their cake and eat it as well. That's why politicians love it so much, it tells them exactly what they want to hear. The less lovely parts they just ignore. Anyone with half a brain knows this, and Keynes should have been more vocal about it. Friedrich Hayek is generally a more informative economist to read up on. He was more of a realist.


Someone made a fairly well done Hayek vs. Keynes rap economics battle: https://www.youtube.com/watch?v=d0nERTFo-Sk

[Firethorn]

Keynesian economics is dangerous not because it's inherently wrong or evil like communism. It tells politicians they can have their cake and eat it as well. That's why politicians love it so much, it tells them exactly what they want to hear. The less lovely parts they just ignore. Anyone with half a brain knows this, and Keynes should have been more vocal about it. Friedrich Hayek is generally a more informative economist to read up on. He was more of a realist.

Indeed.  As I've said earlier - the budget should be balanced and all that when the ashes of the last crash are still warm.  You should be running a surplus about now.  Definitely during the lead-up to the housing market crash.

[cordex]

Someone made a fairly well done Hayek vs. Keynes rap economics battle: https://www.youtube.com/watch?v=d0nERTFo-Sk

The economist behind those videos also hosts the Econtalk podcast. Worth listening to.

[birdman]

Indeed.  As I've said earlier - the budget should be balanced and all that when the ashes of the last crash are still warm.  You should be running a surplus about now.  Definitely during the lead-up to the housing market crash.

Not just balanced, by definition, it would have to be running a surplus.

[Hutch]

So..... Negative interest rates...  Plus a drive to eliminate paper currency... Plus bail-in regulations... Hmmmm....

I can't imagine what could possibly go wrong.  Nope, no problem here.

I think I'll go sell some platelets or something so I can buy a pre-65 silver dime.  Or something.

[Scout26]

Hahahaha you proles think you'll be allowed to determine your own destiny ??


Hahahahahaha it's all about control....

[just Warren]

And now some academic pinhead wants the twenty & fifty gone and bitcoin & the like severely restricted.

If that happens, if we're left with just ones, fives, tens and pocket change then what I said upthread about gold becoming the go-to for the black market will happen.

That will certainly rustle their jimmies.

[Ben]

From the article, it appears he's also pro-negative interest rates. He wants my cash, and he wants the bank to use my money and charge me for it. Nice.

The whole freakin' world is going bizarro on me.

[RoadKingLarry]

From the article, it appears he's also pro-negative interest rates. He wants my cash, and he wants the bank to use my money and charge me for it. Nice.

The whole freakin' world is going bizarro on me.

The only way that'll work is to eliminate cash altogether.
Force everyone to use a "bank" of some sort and tax every transaction and since cash transactions have been eliminated there is no option to withdraw your funds into cash.

.gov in its various incarnations are already working on it in incremental steps.
I actually managed to get a couple hundred dollars of my money back from the state this year. They sent my refund in the form of a pre-paid MasterCard. The was a fee attached to every transaction. Even if I simply transferred the balance into my checking account.
It kind of pissed me off.

[bedlamite]

From the article, it appears he's also pro-negative interest rates. He wants my cash, and he wants the bank to use my money and charge me for it. Nice.

The whole freakin' world is going bizarro on me.

I'd be good with the credit card company paying me ...

[Hawkmoon]

If they can get  people to be cashless, then control is easy. Just deny the transaction electronically.
How ya gonna pay cash, even black market it would be worthless, if it is not redeemable officially.

https://en.wikipedia.org/wiki/Enemy_of_the_State_%28film%29