Bob Moriarty – Fri 15 Aug, 2014

Bob weighs in with us on the deteriorating situation in the Ukraine.

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Featuring:
Al KorelinBob MoriartyCory Fleck

Comments:
  1. On August 15, 2014 at 12:10 pm,
    franky says:

    NO WW3 NO WW3 STOP BOYS GO LOOK A MOVIE ! https://www.youtube.com/watch?v=snTaSJk0n_Y

  2. On August 15, 2014 at 12:35 pm,
    Matt says:

    World War 3 will be created by those that facilitate and perpetrate all wars.
    Canada can be said to be many regions but we are one country.
    Only those with the power and desire can divide it and / or destroy it.

  3. On August 15, 2014 at 12:57 pm,
    Andrew de Berry (Rev) says:
  4. On August 15, 2014 at 1:11 pm,
    J........THE LONG....................OOTB says:

    oh no………….we have not been told the truth………….oh, my………….

  5. On August 15, 2014 at 1:13 pm,
    J........THE LONG....................OOTB says:

    DID BOB say the USA IS BANKRUPT…………JM….did you hear that……….

    • On August 15, 2014 at 1:14 pm,
      J........THE LONG....................OOTB says:

      btw…………I agree with Bob M.

    • On August 15, 2014 at 3:52 pm,
      JMiller says:

      Yes, J……..THE LONG………………..OOTB, I did here Mr. Moriarty make the mistake of using the wrong term to describe the current U.S. financial situation. He obviously does not know, just like you do not know, how the Modern Monetary System works.

      The U.S. is not really bankrupt nor can it technically go bankrupt! The US has not run out of money nor can it. As long as the US can print money (which they can) and money is worth something (which it is), they can’t really go broke. The U.S. is a currency issuer not a currency user. They have no solvency constraints. Individuals and corporations are currency users and because of that individuals and corporations can go broke and bankrupt.

      If I could print money I also would be a currency issuer and I would never go broke. That is a fact. However I understand what Mr. Moriarty and others are trying to say about the U.S. government when they misuse the terms broke or bankrupt (because of the massive amount of debt) but he and others, are using terms that are not really accurate to describe the situation.

      Mr. Moriarty when did the U.S. go bankrupt? When did the U.S. stop having the ability to print money? What year did this happen? Sorry Mr. Moriarty but you are absolutely wrong to say that the U.S. is absolutely bankrupt.

      • On August 15, 2014 at 5:05 pm,
        ManAboutDallas says:

        Is that why every fiat currency in world history has devolved to ZERO? You fall into the trap of believing that because a nation has the ability to print money others are AUTOMATICALLY going to ACCEPT it. The “print” game ENDS when your counterparty says “Use it yourself as toilet paper.”

        • On August 15, 2014 at 5:42 pm,
          JMiller says:

          ManAboutDallas,

          Please read what I wrote. I said “As long as the US can print money (which they can) and money is worth something (which it is), they can’t really go broke.” If no one excepts U.S. dollars then it ceases to be a medium of exchange or a form of money. Just to remind you, all U.S. government debt is denominated in U.S. dollars and repayment is in U.S. dollars. Holders of U.S. debt do not have a choice. They can’t demand to be repaid in gold for example.

          It also seems that may have the wrong view of the declining value of the dollar (fiat currency) over time. People mistaken try to compare what a dollar bought in 1913 with what a dollar buys today, which of course is a lot less then in 1913 because of inflation, and then they become alarmed that the dollar has lost most of it’s value over the last 100 years. The fact is you work to earn money (dollars) to either spend it to buy goods and services at today’s prices or you invest it in something that will keep pace with inflation or even beat it. You do not make money and just leave the dollars on the table for years and have inflation eat away at it like the fear mongers want you to picture. A small amount of annual inflation is not a bad thing but is actually good. Of course the dollar over time is going to purchase less because of inflation. It is suppose to happen in a normal growing economy. What the fear mongers do not tell you is that most of the time in the last 100 years, people have receive raises which compensates for inflation . The average daily wage today buys about the same amount of goods and services as they did in 1913. Our standard of living has not declined since 1913, in fact I would say it has improved. There is nothing unusual or startling for fiat currency to lose some of it’s purchasing power over time because of inflation. That is the way it is suppose to work.

          • On August 15, 2014 at 6:31 pm,
            ManAboutDallas says:

            You live in some dream world, and a functionally-illiterate one, at that. [ “excepts(sic) U.S. dollars” ] “Our standard of living has not declined?” Oh, really? Is that why a family now needs two incomes instead of the one that used to suffice? Is that why inflation-adjusted wages have declined since 1980? Enjoy your oblivious stupour, ‘Sparky.

          • On August 15, 2014 at 6:57 pm,
            JMiller says:

            ManAboutDallas,

            Sorry that I failed to communicate to you in a way that you can understand. But that is understandable know that you have informed me that I live in a functionally-illiterate dream world. So I will just continue on, as you say, in an oblivious stupor.

            Oh, by the way in case you did not know the word is stupor, not stupour .

          • On August 16, 2014 at 9:13 pm,
            Big Al says:

            Yes it certainly is “stupor”!

          • On August 16, 2014 at 9:10 pm,
            Big Al says:

            Interesting comment Dallas. Thank you.

      • On August 15, 2014 at 5:26 pm,
        Matthew says:

        JMiller, I don’t know what your point is. Are you suggesting that governments can print value or that printing money does not transfer value from its rightful owner to those doing the printing? Are you suggesting that governments can spend more than they steal and make up the difference with even more stealing forever?
        Spending has exceeded revenue for most of the last century and debt surpassed GDP in the third quarter of 2012.
        Do you think that the U.S. dollar would have lost about 98% of its value if the U.S. government’s spending habits did not have consequences?

        How many ticks can a dog support before it drops dead? (The dog here is the segment of society that actually produces something.)

        • On August 15, 2014 at 5:48 pm,
          JMiller says:

          Matthew,

          You ask, “Do you think that the U.S. dollar would have lost about 98% of its value if the U.S. government’s spending habits did not have consequences?”

          Yes, the dollar would have lost 98% of it’s value of the last 100 years. Not specifically because of the governments spending habits but because of the normal rate of inflation. It seems that you may have the wrong view of the declining value of the dollar (fiat currency) over time. People mistaken try to compare what a dollar bought in 1913 with what a dollar buys today, which of course is a lot less then in 1913 because of inflation, and then they become alarmed that the dollar has lost most of it’s value over the last 100 years. The fact is you work to earn money (dollars) to either spend it to buy goods and services at today’s prices or you invest it in something that will keep pace with inflation or even beat it. You do not make money and just leave the dollars on the table for years and have inflation eat away at it like the fear mongers want you to picture. A small amount of annual inflation is not a bad thing but is actually good. Of course the dollar over time is going to purchase less because of inflation. It is suppose to happen in a normal growing economy. What the fear mongers do not tell you is that most of the time in the last 100 years, people have receive raises which compensates for inflation . The average daily wage today buys about the same amount of goods and services as they did in 1913. Our standard of living has not declined since 1913, in fact I would say it has improved. There is nothing unusual or startling for fiat currency to lose some of it’s purchasing power over time because of inflation. That is the way it is suppose to work.

          • On August 15, 2014 at 6:28 pm,
            Matthew says:

            JMiller, inflation is NOT natural and it is NEVER a good thing. These myths are nothing more than propaganda. Inflation IS money supply growth. Inflation IS theft. Most people still do not understand this.
            The raises that people have received do the retiree no good and often do not keep up with the decline in the purchasing power of the currency for those who are still working.
            It’s hard to retire when your savings are continuously siphoned away by the enlightened ones, isn’t it?
            Living standards have increased in many ways in spite of the looting NOT because of it.

          • On August 15, 2014 at 7:29 pm,
            JMiller says:

            Matthew,

            A small amount of inflation is to be expected in a growing economy. That is not unusual. I will however retract what I said about a small amount inflation being a good thing. I did not mean how it sounds. I just meant that most times a small amount of inflation is not always a bad thing.

            I believe that there is more factors involved when it comes to inflation than simply money supply growth. For example where does price increases because of food and energy shortages fit in? And what about wage increases?

            Retirees usually receive an increase in Social Security and sometimes their pension. I agree that the last number of years they have not kept pace with inflation. Other years in the past they have and in some years may be even more that inflation. Not everyone’s personal rate of inflation is the same. Not everyone’s raises are the same. For example, I have received two raises from my employer in less than 12 months which comes to a 15 percent increase. Same job. My personal rate of inflation for the past 12 months is probably only 4 or 5 percent.

            As far as you agreeing with me that living standards have increased, I am glad. In a post from ManAboutDallas above he thinks that people who believe that are in an oblivious stupor. Glad I at least have some company in what he says is a functionally-illiterate dream world.

          • On August 15, 2014 at 9:02 pm,
            Matthew says:

            JMiller, yes, even sound money fluctuates in terms of every single other thing, but it does not lose purchasing power on a net basis for long, if at all. A stable money supply makes general price inflation virtually impossible. Various goods and services and even entire cities and regions can become more expensive based on market forces (supply/demand), but such price inflation would result in price deflation in other parts of the economy, so there would be no net systemic price inflation. Only in a system in which there is an infinite supply of “money” can there be rising prices across the board.

            All goods and services are finite and rationed by the market, shouldn’t our money also be? If printing money were sound, we would all be doing it and all the goods and services we need would also appear out of thin air. Fiat currency is not wealth, it is a claim on wealth —no different than a dry cleaning ticket.

            Social Security is a ponzi scheme that can’t last. Recipients would be getting about twice the amount they are now if the CPI was still calculated the way it used to be just one generation ago.

          • On August 24, 2014 at 1:58 pm,
            JMiller says:
        • On August 15, 2014 at 5:59 pm,
          JMiller says:

          My point is that people are using bankruptcy and broke to describe the U.S. when in reality that is not true. If I could print dollars and dollars are used as a medium of exchange (money) I could never go broke or become bankrupt. That is a fact. And that is the current situation with the U.S. So I just want people to get a more accurate idea of how things really are and not what doom-and-gloomers and fear mongers sometimes erroneously present typically by exaggerations, half-truths, misrepresentations, conspiracy theories, etc…

          • On August 15, 2014 at 6:32 pm,
            Matthew says:

            So they CAN print value without taking it from others?
            Such thinking is very dangerous for your financial health.

          • On August 16, 2014 at 7:21 am,
            J........THE LONG....................OOTB says:

            A little ROMAN HISTORY should be acquired………..for further discussion…..

          • On August 16, 2014 at 7:23 am,
            J........THE LONG....................OOTB says:

            Even some Chinese History……would be appropriate ………

          • On August 16, 2014 at 7:24 am,
            J........THE LONG....................OOTB says:

            FAIR WEIGHTs AND MEASURE………KJV(bible)……would seem to be in order

          • On August 16, 2014 at 7:25 am,
            J........THE LONG....................OOTB says:

            How about some American History…….continental dollar……….

          • On August 16, 2014 at 7:27 am,
            J........THE LONG....................OOTB says:

            Lets try some Green back news……..CIVIL WAR…1860….taxation was 1% from the treasury to pay the war tax….printed and guaranteed by the govt.

          • On August 16, 2014 at 10:03 am,
            JMiller says:

            J……..THE LONG………………..OOTB,

            What about Roman history? What about Chinese history? Could you be a little more specific since it covers a lot of territory. I am not a mind reader.

          • On August 16, 2014 at 11:47 am,
            J........THE LONG....................OOTB says:

            Fiat(present day, Chinese 1690)……Central Bank(1837,1861 ,1913)………..Clipping of coins(Roman) ………GOOGLE……..

          • On August 16, 2014 at 11:49 am,
            J........THE LONG....................OOTB says:

            check out the HISTORY OF MONEY…..or any CURRENCY BOOK ,at a local coin shop,book store…..

        • On August 15, 2014 at 6:37 pm,
          ManAboutDallas says:

          Let’s not waste any more ink on this deluded fool; rather, let it learn the hard way when the day arrives – in the not-too-distant future – that it tries to spend a now-worthless US$ and is laughed at into its face. Then let us further hope it darkens neither of our doorways, holding a tin cup.

          • On August 15, 2014 at 7:39 pm,
            JMiller says:

            ManAboutDallas,

            I can see from you posts that you are a very intelligent person and that you have made valuable contributions to this site. May be Al will let you be a guest commentator. After of course you treat people who you do not agree with a little better like Al’s other commentator’s do.

  6. On August 15, 2014 at 1:13 pm,
    franky says:

    NEWS IS A LAI WE LIVE IN A LA! !!!!!!!!!! https://www.youtube.com/watch?v=X4B5gb83d0s

  7. On August 15, 2014 at 1:14 pm,
    Steven says:

    Tim Alexander at Europebusines.blog would probably agree with Bob. I think the Russians are being falsely accused and provoked. If Russia has to use the military option it will be with in its rights to do so. The west should stand down and back off and seek reconciliation with Russia

  8. On August 15, 2014 at 2:02 pm,
    Matt says:

    The Russian Central Bank(founded in 1990) is under the BIS consortium.

    http://www.globalresearch.ca/the-banks-own-the-fed-and-the-central-banks-own-bis/14673

  9. On August 15, 2014 at 2:04 pm,
    Joseph says:

    God Bless Bob Moriarty !!!

  10. On August 15, 2014 at 2:23 pm,
    bb says:

    Bobs right, as usual, everything we hear is deceit.
    A bit of an update, Russia denies sending armour to Ukraine.

    The U.S. is bankrupt, more liabilities than assets.
    They have a choice, renegotiate, default or print. All debts gets paid, how is the question.

    The way default is historically kept off people thinking is war.

    The idea that common sense from the U.S. will prevail is pointless imo,
    those in power will do anything they can to keep it, they will have no second thoughts to sacrifice your children to achieve their goal, they are psychopaths.

    Bob makes the point that their might be people in Europe that are beginning to realise their position, Britain for example is realiseing that a genocide is taking place Gaza. vairous europian countries have begun to ask for compensation for sanctions.

    imo people are slowly beginning to understand that the evil is coming from Isaerl and the U.S.’

    One issue haunting us is that 69% (last poll I saw) of americans believe that Russia is the threat. Remember the Ameicans are ignorant and have been trained to be suseptable to propaganda.
    As an example, their concern right now is the shooting of an unarmed boy of 18.(not to diminish)
    I could be wrong but I feel the extermination of all life should be a priority.
    They are unaware they are in the situation.
    The media does its job well.

    Our hope? Putin, with the support of many other naitons.

    Those inclined might consider a prayer for Putin and supporting cast to remain calm and wise.

  11. On August 15, 2014 at 2:40 pm,
    Matt says:

    Putin is another paid thug.
    I pity the average person that has to live in Russia.

    We are not talking big money. But very big money. None other than Putin’s Central Bank has estimated that two thirds of the $56 billion exiting Russia in 2012 might be traceable to illegal activities. Crimes like kickbacks, drug money or tax fraud. This is the money that posh English bankers are rolling out the red carpet for in London.

    Read more: http://www.politico.com/magazine/story/2014/03/russia-vladimir-putin-the-west-104134.html#ixzz3AV1MyiZa

  12. On August 15, 2014 at 2:59 pm,
    Matt says:

    Putin makes $100k per year as leader of Russia and yet he is said to have between $40-$70 billion stashed away in Europe.

    But, as The Times of London reports, perhaps the US has found a crucial pain point for Putin – a sanctions regime that would target Putin’s personal wealth, which includes a reported $40 billion stashed in Swiss bank accounts.
    http://www.zerohedge.com/news/2014-04-20/means-war-us-target-putins-personal-40-billion-stash

    • On August 15, 2014 at 3:13 pm,
      Lawrence says:

      I believe Russia has demanded all its rich people to move deposit from West to other places. I doubt Putin is so stupid. I don’t believe in rumours.

      • On August 17, 2014 at 5:51 pm,
        Matt says:

        Putin is a nice man.
        I am sure he is a very nice man.
        Those Litvinenko,journalist and rumours must be balderdash.
        Putin is a very nice man.

    • On August 15, 2014 at 5:09 pm,
      ManAboutDallas says:

      And you think Putin has most of his wealth where legal larcenists can get their hands on it or even influence its fate? Har, de-har-har-har. ( and -HAR! ) ( HINT : he didn’t recently go to China to just talk about gas deals )

  13. On August 15, 2014 at 3:22 pm,
    Dick Tracy says:

    Do you know what is so stupid about all this is if The US would just leave other countries alone and concentrate on their own well being the world would soon realize that they need to emulate American culture because when the focus is to make American strong internally they can’t be beat.

    • On August 15, 2014 at 3:53 pm,
      Dick Tracy says:

      The US became great because they were very tolerant of other nationalities; they need to stick to their own knitting and respect the cultures that are part of their country and also the world.

      Last night I watched a movie called “The Crossing”, it is about George Washington’s army traversing the Delaware and attacking The Hessians at Trenton. Most of the men he fought were foreign mercenaries of German origin but despite the past when he captured these soldiers they were treated in a humane regard and allowed to become American citizens after the war. Doesn’t that say something about America’s past that made it great.

      • On August 15, 2014 at 5:11 pm,
        ManAboutDallas says:

        That America has all but disappeared, and it’s probably not coming back, the Second American Civil War is going to finish off any hope of some American Renaissance.

      • On August 17, 2014 at 10:36 am,
        impeach says:

        Back then, how many of those captured Hessians kept insisting that “Sharia” is the one and only law?

    • On August 16, 2014 at 7:05 am,
      mark matia says:

      amen Dick Tracy