Fed Prints Another $205B This Week, M2 Growing at Fastest Pace on Record

Re:Fed Prints Another $205B This Week, M2 Growing at Fastest... by neltnerb on Friday April 24, 2020 @11:09AM (#22968773)

Why would going to a gold backed currency imply that debt would be wiped out? I can see the machiavellian reasoning for spending trillions of debt financed dollars if you know you're going to default, but I don't get how the gold standard helps.

I could believe that Trump wants to do one or both, but I don't see them as connected in a coherent way.

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Re:Fed Prints Another $205B This Week, M2 Growing at Fastest... by Fjolsvith on Saturday April 25, 2020 @06:28AM (#22977132)

Destroying the petro-dollar was critical to breaking the central bank rule. You can't back money with oil right now. What's the current price per barrel of oil again?

Selling off the US petroleum reserve helped force the glut of oil on the market. Trump unloaded it when oil was high, and now he's refilling the tank with super cheap crude. Heck, every tanker in the world is trying to get their oil into the US petroleum reserve right now.

What do you back money with if not gold?

You all think Trump is a bumbling idiot but you are going to feel gut punched after he's played his hand. And, he hasn't even broken suit to trump his opponent yet!

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