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2022-05-11 07:00 by Karl Denninger
in Interviews , 293 references
[Comments enabled]  

From the intro:

"Congress has defrauded the American public by claiming we could issue this credit created from deficit spending by the United States Federal Government and sequesters it overseas. Our guest this week on the Retirement Lifestyle Advocates radio program, Karl Denninger, talks with your host Dennis Tubbergen about how the Biden administration has overplayed its hand by confiscating Russia’s dollar assets. Similar policies may have worked in places like Iraq, Iran, and other small nations, but in Russia, we’ve taken the largest industrial producer of things like potash, fertilizers, rare earths, and copper and destroyed all links to sales in US dollars. It’s a fascinating conversation you do not want to miss."

I always find it amusing that people think the government (or Fed) can "print money."

That's impossible.  Money is what you receive after you perform some act that has value to another person.  It is the exchange of value that marks what you receive as money

Government, however (including The Fed) can print credit.  Credit is a promise to do something of value tomorrow.  Unfortunately when the entity doing the promising is the government -- or The Fed -- that promise is ephemeral because the entity issuing the promise won't be the party that has to fulfil it and you can't force anyone to perform to their potential.

Commodities, particularly inputs to agriculture, are in trouble -- which of course means food inflation.

Come and get it folks!

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2018-06-02 07:00 by Karl Denninger
in Interviews , 252 references
[Comments enabled]