Biden's Economic Advisor Explains Printing Money
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- Опубликовано: 2 май 2024
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Printing money is another form of taxation,we all pay for it through inflation 😢
It is probably the worst of all them.
@@freedomarts -- the currency is debt + interest ... to be paid on time.
The debt and death ponzi scheme is coming to an end....
Follow the Yellow Gold Brick Road!
End the Fed!
Not the US though, it is the backup currency of the world, so you can print way more money than it affects the inflation.
Wrong
This is the guy who advises the President of The United States on economic policy.
And he just admitted he has no clue what he’s doing.
I don’t want to believe this is real. Yet here we are.
Is this real? Not just some random guy being interviewed here?
@@TheSimArchitect there he is, right on the Whitehouse's website: www.whitehouse.gov/cea/ it's real!
Well, that's because it makes no sense 😕
No way? This can’t be real?
Oh yeah… The music major in college lol
Hay gang. The guys name is Jared Bernstein - chair of the United States Council of Economic Advisers. He is a senior fellow at the Center on Budget and Policy Priorities.
In case yiu thiught this was a hoax or a joke. Actually it's a sick joke and citizens are the butt of it... Smh.
What an incredibly cheerful video to start my weekend.
I couldn't believe my eyes when I saw that clip going viral this morning. He advises the POTUS on economic policy😬 that really makes us look like a strong country that shouldn't be messed with! 🙄
There are 9,000 bad things about social media. But Two of the best things that have come out of it is 1- sooooo many more people learn the truth about what was meant to keep hidden. And 2- your great work that has the balls to keep putting that truth out there. Appreciate you and your work daily.
There is never and will never be enough money in circulation to pay back what the fed "lent"
This short video was informative & didn't have any sponsors. Love it
No. The Government creates Treasury notes, bonds, and bills. The Fed "prints" money to buy those Treasury securities. The government spends the money. It starts with the government deciding to spend, not with the Fed printing. The cause and effect begins with the government deciding to spend money.
You basically described the same thing in a more complicated way. Yes, but again, let's keep it simple.
@@MeetKevin You described the chain of events backwards. It's important to know the cause and effect relationships. I didn't add any complication, I just use the correct sequencing. First, government decides to spend more than it takes in from taxes. Then the Fed "prints money" to buy as much of those Treasuries as its current policy dictates.
@@BasementBerean YOU'RE EXACTLY RIGHT ! *It starts with the government deciding to spend, not with the Fed printing*
There are two forms of money In Keynesians economics. You have printing Via the treasury through T-Bills which is debt creation but also increases the supply of money. And then you have congress deciding to create more debt. One form for the public to see. One form unchecked in the shadows.
@@DocOrtmeyerwrong. They are independent of each other. Both can happen simultaneously.
"I sincerely believe that banking institutions are more dangerous to our liberties than standing armies. The issuing power should be taken from banks and restored to the people to whom it properly belongs." - Thomas Jefferson
There is 1 important take away...
You can never pay off debt, with debt.
Don't stop believin'
Hold on to that feelin'
Streetlights, people
Can I also identify as a small town girl?
It's not the destination, it's the Journey.
I try to forget that decade, but there's always something there to remind me.
Heaven's just a funky moose.
They can't ignore MMT any longer. What an eye opening documentary
Whats Kevin been eating lately. Because he's been cooking lately. Last few videos he's been nailing it. The vid about the middle class was spot on!
Is this real? 😬
😬
Nope. Whats real is once you start getting the debt repayment as a too large part of the federal budget (say 50%) austerity measures end up happening naturally which destroys the currency.
*YES!!!* 💯%
@@ok.ok.5735 right now, its about 1.5 out of 4.9 trilllion
Yes 👍 fake money fiat trash lol buy SILVER buy GOLD
Thank you, you explained in a way so easy to understand. Great video, great content
What if the FED started to refuse to pay for the treasuries notes and bonds the government is issuing?
Ha ha I love how you left all the suspense on the table like that.
@MeetKevin, do you stack bitcoin then? What is the way out for ordinary ppl?
He mentioned MMT (modern monetary theory), I don't think I've heard anyone aligned to the current US government admit that's what they're doing.
Well said Kevin. I’m planning on buying your money stock market course I hope its just as good as this explanation you just gave.
I like this short from video. Strait to the point. Keep it up 👍🏼
Thanks Kevin, for your best video ever! Pure Truth!
This is the best video you have ever made. Two thumbs up.
this calls for a Journey - don't stop believin' - hold on to that feeling
Hi Kevin, so whats your thoughts on allocating a portion of a portfolio to physical gold & silver to hedge against this nonsense?
Federal Reserve isnt government its a privately owned company
The printing machine is private, just maybe, the action of printing money and making it legal is executed by the government, so in practical terms the government owns the printing machine. COMMON SENSE.
Not really. The government of the Federal Reserve is a federal agency, and the Federal Reserve banks own stock in each other. The Federal Reserve does not exist to make a profit.
@@BasementBerean It isnt a federal agency, its a private institution. Congress just oversees it. The FED oversees the 12 regional reserve banks which themselves are private institutions that act like a corp. they are supervised by the Federal Reserve Board of Governors.
Just because they call it a privately owned company doesn't mean it behaves like one. If a regular company printed money someone would go to prison, not the case here.
If a regular company took your money without your consent it'd be called theft, when the government does it they call it taxation.
Rules for thee and not for me. History is riddled with abuses of power from kings and leaders, what makes you think it's different now? Just because they threw a new label on it doesn't make it different.
@@aignia5385 "The Federal Reserve System is not "owned" by anyone." That's from the Federal Reserve Gov web site. It wouldn't hurt to go to the Fed's own web site and read about what it says about it's own ownership and governing structure.
The Government is turning up the
Volume on Journey’s “Don’t stop believing” ….please
Great video! That’s why the powerful never ever will allow others to take their seats
Or the fact that the FED isn’t federal at all. It is privately owned. So whoever owns the FED. Owns us
haha the video ended at "when people stop believing"
The realest vid you've had in a min. Money is imaginary to keep the modern slaves in line 100%
And that's why Powell's favorite tune is "Don't stop... believing 🎶🎵"
Don't stop believin'
Hold on to that feelin'
Now the question is "what will cause ppl to stop believing?". Since money is lent into existence, that means it is owed back and goes toward productive means. Dollar Denominated Debt is precisely why "The Dollar" is NOT going to fail. If we do not provide MORE dolars to satiafy the growing DEMAND for dollars then we will NOT remain the worlds reserve currency. Until the amount of countries which demand dollars "shrinks" then the need to print remains.
So is Kevin a silver and gold stacker now!?!??
Nope. Otherwise we'd have an affiliated link with an expiring discount code for it. Joke apart, Kevin makes good points, in my opinion, usually. 🙂
Undercover lol he’ll later say it was just a hedge or insurance 😂
Best video you ever made! It’s all about beLIEf
Kevin, have you read The Creature From Jekyll Island?
It's funny because there have been many examples of this exact type of monetary policy in ponzi scheme crypto projects which all eventually end up going to 0
So we newer have to stop believing. Otherwise we are screwed? Right?
if people stoped working for money and realized its worthless paper that the goverment prints out of thin air, even though u have to workm hard for it, get taxed by it and use it to buy food. the entire system would collapsed
Take the days of Republic of China fabi (the fiat currency of RoC in mainland China era). Hyperinflation is so bad and money printing is rampant to pay off deficits, trust in the fabi deteriorates, fabi has no value, hard commodities are favored, then the communist comes and take over from there
Gotta keep the ledger right on both sides 📒
One minute and 30 seconds into this video I found myself holding my head in disbelief. But what do I know I’m a dumb construction worker Kevin. I would love if you can start auditing the books on some of these California homeless organizations. I see more helpful Honda dealers walking the streets than I’ve ever seen a homeless advocate with a clipboard.
Brings me back to Zeitgeist the movie days, loose change lol
Love Kevin's reaction to this guy's stammering..lol
There’s no real lending and taxes don’t fund spending
BEST VIDEO I’ve seen on your channel 😂❤ GOLD & SILVER ❤
Mr Kevin how would i send you a golf course idea request?
Spot on. I lost faith and figured out the system at 28 years old. Gold, silver, and Bitcoin are my only answers after years of studying this broken system.
The deceived species will never stop believing.
Nice and concise! Appreciate the insight
All roads lead to Bitcoin.
And that kids is how you get your life deleted. Glad I got to meet Kevin
Printing currency should violate the 5th ammendment takings clause/eminent domain. They're taking from us yet not compensating.
people aint jokin when they say it's all going to zero🤣
ooh Kevin you sound like Micheal saylor now lol just kidding, great explanation lol
Government spending much more than they taxed so they have to print money to use using the term borrow. Stop outrageous spending which cause inflation so high.
Exactly, why do people make it a such a big deal that we are so much in “debt”? Who cares, it’s not real debt.
“Money doesn’t grow on trees” yes it does
Johnny bravo played this same clip. This happened today?
Please tell me, does the federal government destroy/burn taxes? Like in the 'doc'. Finding the money, messed with my head man!
Kevin what happens when the currency reaches 0? What happens to life in America what happens to our society that's the key question to ponder Kevin. ✌️
Kevin, please interview Ray Dalio and also go into depth about what money is.
Why we borrowing in a currency that we print ourselves?
Ans: we privatize the assets, publicize the debts. Who are closer to the money printer get the assets. Who needs to feed their family get the debts.
O for a minute I thought you were talking about the stock market. Lol
lol i hope u dont mind...but i just sent out a mass text of this video to everyone i know...great vid bro!!
Its a mathematical certainty that it will go to 0, the question is how long do you think that will take?
I’ve never heard a stronger case for bitcoin pitched in this short amount of time
Well people are starting to question and belief is wavering
Kevin, I feel like this video ended way too early. There is so much to unpack here
Kevin you should check out Steven Zarlanga's book Lost Science of Money. He answers this question very well.
A few points i believe he would disagree with.
1) the fed prints the money that the government borrows to reinforce the international order.
2) Fiat currency do not fail because of lack of faith. Its the ability of sovereign's to inforce taxe payments in that currency. For example Roman currency failed because they had switched to a gold standard and much of the gold supply flowed to the far east over time leaving little to paid in taxes.
Is this the top financial advisor?
The next video should be about the definition of stopping believing.
Can you imagine this guy sitting down and having an economic discussion with his boss? 🤣🤣🤣
Notice his right eye (our left) twitch when he answered the question in the beginning. This would be a great video for a body language expert, e.g. Spidey Hypnosis, to analyze. I'll suggest it on his shannel.
For the love of God everyone is clueless. The primary source of inflation comes from the primary dealers or Global Systemically Important Banks (G-SIBs) such as JP Morgan who are forced to participate in buying treasuries in order to fund the U.S government. Banks are allowed to extend credit aka create money from nothing based on the assets they have at the bank which may also include customer deposits. They are allowed to do this based on the leverage ratios set by the Basel regulations!!!
The problem starts with the government because the greedy politicians want to pay for everything in the world.
For example. The treasury took in 4.4 trillion dollars from taxes. But then the government set a budget for 6 trillion dollars. That difference is literally BORROWED into existence by the process I mentioned above. That is the primary source of inflation. Anything else is just wrong. Prove wrong Kevin 😁✌️
That extra money aka credit is given to the government which then spends it into the economy. That money is credit so it needs to be paid back. The Fed does not directly buy treasuries from the government. The NY Fed conducts open market operations and buys the treasuries from the G-Sibs or others such as pension funds foreign banks. The Fed is not directly responsible for inflation. It only allows the government to continue to be irresponsible because at any time it can literally type money into existence and swap it for treasuries and mortgage back securities. This is literally the feds balance sheet. This process frees up banks balance sheets and gives them more reserves not actual money to spend in the economy.
That money ends up in the reserve system not the consumer banking system that we use to buy stuff. What I just described is called Quantitative easing AKA QE. Banks don't spend reserves!! It only allows banks to lend to each other more freely to cover inflows and outflows from customers spending money at different banks. This will probably go over everyone's head because no one actually follows the flow of money. Read central banking 101 by Joseph Wang. He worked at the NY FED. Also check out his RUclips channel. Educate yourselves please.
It doesn't got to $0, it goes to $9999999 because the amount stops mattering
Two ways money is created: (not talking about the physical money kind) - Money is created is when the governments "creates it" by selling bonds (created from no where else except the trust that the government will pay back the price of the bond plus interest (sort of), something that gets complicated when inflation can eat away at bond investors profits, leading to investors not wanting to pay as much for bonds making bonds more expensive for the government), the sale of those bonds gets money to the government that the government didn't have and needs for it's budget and spending, that debt from those bonds then needs more created money to pay off that interest on those bonds debt, later. Either by printing more bonds (the inflationary ponzi scheme), or get that money back through taxes. This is what many governments did a lot of around the world to sustain the pandemic closures and also cause the inflation we are now faced with, because all that short term debt has been very pricy compared to the longer term debt (and needs to be paid back with more interest). All that bond fackery maybe lead to a correction of the yield curve in the near future. That doesn't mean that a central bank wont buy and sell government bonds to help control the money supply, and remember central bank profits go to the government anyways. Another method money is created is when commercial banks loan money into existence using the central bank and the that central banks lending rate. Those are two different methods money is created.
Why pay taxes when the Gov can just use their money printer
He realized he was exposing a ponzi scheme in real time. Lmao. Sooo I gotta work my entire life for sumthing created out of thin air. Awesome
In other words…, we’re all screwed. Or, more specifically our kids and their future generations are in for a wild ride.
Paper money should be Illegal. Metal money that is not gold or silver too.
So what’s the next currency? Btc?
Your best video ever
Cue : Don't stop believing!! Hold on to that feeleelaeelan!!
People don’t believe in crypto with a capped supply but they believe in the US government,god help us all
Oh no, we're are fked!
This can’t be real 😢
Wow, actual quotes:
“Is that what they do? They… they… um…” He doesn’t know what the Government does.
“I don’t get it. I don’t know what they’re talking about.” He doesn’t understand why the Government does what it does.
“There is no question the government prints money.” He got that right.
He is the Chair of the Council of Economic Advisors, who advise the President of the United States on economic policy.
"Workin' hard to get my fill
Everybody wants a thrill
Payin' anything to roll the dice just one more time
Don't stop believin'
Hold on to that feelin'
Streetlight people" -Journey [ to economic collapse ]
Jesus Christ, this guy is our economic advisor and he couldnt decide whether the government sells bonds or not? We are all screwed.
Ok who is that guy? 😂😂 like seriously? I need to find the full interview 😂
The US Constitution gives Congress, the legislative branch of the federal government, the power to print money. Article I, Section 8, Clause 5 of the Constitution states that Congress has the power to coin money, regulate its value, and regulate the value of foreign coins.
Hmmmm… I have to study this more but I believe the federal treasury is the one that “prints” the money through various bonds. The federal reserve sets policy, can create money out of thin air just like any bank, but not to the level of the government.
The current inflation we are going through is because they are still printing money through the chips act and inflation reduction act. I see it in the bond market. I see how most of these treasuries sales directly affect the market.
The party stops when no one buys our debt anymore.
Correct. The US Treasury created bonds. The bonds are auctioned by the Federal Reserve Bank. Proceeds form the sale of the bonds are returned to the Treasury. The Treasury pays the bills of the federal government.
Its almost as if the bankers are the only ones who know whats going on......at least some of the time.
Basically yea, but also it's simply money supply control. As population/circulation grows, you need an increase in money supply via ideal inflation levels so that rapid deflation doesn't occur, but if a population shrinks or circulation shrinks then the fed would need to increase interest rates to stabilize money and the cost of goods. Otherwise the alternative to society and civilization is literally bartering goods and services. Economics 101
The Bank of England gave the U.S loans during the crash of the 1920s when the bottom fell out and we went broke as a country to zero. That debt still hasn’t been paid, that’s when your birth certificate was created to be used as a slavery promise to pay back the principle with interest through labor. Why do you think your birth certificate resembles a stock certificate or dollar. England and the Bank of England still owns this country in the shadows. That’s why the Federal Reserve is an independent entity that controls and runs our government, economy, country, and politics. And the bankers engineered the crash.
Hallelujah! The conceit however, is that the moment when people stop believing is far in the future. Don't bet on it.
Don't stop believing. I guess that's why the song is popular. 😁
If aliens came to earth and stole $40 trillion US dollars and left this galaxy with it, the value of the dollar you and I hold will double immediately.
This is hilarious 😂