tag:blogger.com,1999:blog-14237465.post7280341856037794633..comments2024-03-22T19:12:22.089+11:00Comments on One Salient Oversight: Deflation and the "Nuclear Option"Neil Cameron (One Salient Oversight)http://www.blogger.com/profile/03143948543305522865noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-14237465.post-680060492113302902008-11-21T13:08:00.000+11:002008-11-21T13:08:00.000+11:00No worries mate.No worries mate.Neil Cameron (One Salient Oversight)https://www.blogger.com/profile/03143948543305522865noreply@blogger.comtag:blogger.com,1999:blog-14237465.post-89389168022919619972008-11-21T12:49:00.000+11:002008-11-21T12:49:00.000+11:00Oh no, I was joking in my post... trying to be iro...Oh no, I was joking in my post... trying to be ironic and failing. Miserably.Rebelbankerhttps://www.blogger.com/profile/03570154545542309039noreply@blogger.comtag:blogger.com,1999:blog-14237465.post-40217999548892130492008-11-21T12:43:00.000+11:002008-11-21T12:43:00.000+11:00Alex,First of all I'm not certain if your statemen...Alex,<BR/><BR/>First of all I'm not certain if your statement "this post is a joke" refers to MY article or to YOUR comment, so I'll have to assume the worst.<BR/><BR/>First of all, I'm no hater of fiat currenecy. I posted about it <A HREF="http://one-salient-oversight.blogspot.com/2008/11/gold-vs-fiat.html" REL="nofollow">recently</A>.<BR/><BR/>Secondly, the Federal Reserve has the power to create money by fiat, not the federal government. The Fed, though, is ultimately controlled by congress so any fiat money creation will have to get approved by America's politicians before it happens. Alternatively, if Bernanke already has the authority and uses it badly, congress could easily fire him, thus preventing any more problems from occurring.<BR/><BR/>Thirdly, as I state in my article the only possible pre-existing conditions for such an action (creating money to pay off debt) would be a deflationary environment. The creation of reasonable amounts of money by fiat would not necessarily result in huge levels of inflation.<BR/><BR/>And as I type this I realise that my article may have implied a complete payoff of government debt all at once. That was not what I was proposing at all - merely the creation of enough money to prevent deflation that is used to pay of some of that debt.Neil Cameron (One Salient Oversight)https://www.blogger.com/profile/03143948543305522865noreply@blogger.comtag:blogger.com,1999:blog-14237465.post-31473801758502553912008-11-21T12:26:00.000+11:002008-11-21T12:26:00.000+11:00ARE YOU F-ING KIDDING ME?You saw what happened whe...ARE YOU F-ING KIDDING ME?<BR/><BR/>You saw what happened when the Republicans got government debt, could you even imagine the shit storm caused by a president like Bush when given the precedent of fiat money creation.<BR/><BR/>(this post is a joke)Rebelbankerhttps://www.blogger.com/profile/03570154545542309039noreply@blogger.comtag:blogger.com,1999:blog-14237465.post-58224751787465480692008-11-21T12:11:00.000+11:002008-11-21T12:11:00.000+11:00Hey OSO,I just put a video up on my blog that I'd ...Hey OSO,<BR/><BR/>I just put a video up on my blog that I'd like to know what you think of... You may have heard of this guy before or what he has to say... I hadn't. If you don't want to leave a comment there, could you please e-mail me at coffeebeankel@earthlink.net?<BR/><BR/>Thanks!Anonymousnoreply@blogger.com