Black People Politics : What should the minimum wage be?

China buys up quite a bit of US debt.
That US debt generates interest for them.

Interest payments require more printing of currency. More printing of currency devalues each dollar already out there in circulation.

Every dollar in circulation is borrowed into circulation.
The process is called "monetization of debt".




Monetization of debt: I've heard this term alot recently. The TV commentators on the economy (CNN, for example) will bring it up sometimes. Until now, I've had no chance to understand what these folks were even talking about.


WAY over my head!


When I've made the effort to try and pick up on what any so-called experts were trying to convey, it'd feel like I was forced to *intuit* what they'd meant, and anyway, what they'd be saying would typically end with predictions that sounded like, "Thus and so kind of *doom and gloom* WILL happen SHOULD this trend continue" and so on....and then next, there might follow a tea party politician or a PAUL-inspired advocate that'd issue yet another call for banishing the fed altogether because of Bernanke's (and fed board) autonomy.


Q: Not possible for there to be a rise in the minimum wage that doesn't sting the economy for all that long? As things stand, the money certainly *exists* and does hold x-value, right? Only thing is, is that at present, that value is being passed along 'elsewhere'--to anywhere except into the pockets (wages) of lower class workers, so...


Keep it coming. I appreciate very much what you're providing.


One Love, and PEACE
 
Point the first: I did not say gold standard. I merely said gold, silver and precious metals.
There is no "precious metals" standard, but there is a "gold standard."

You said gold standard.

Exactly.

Point the second: You can use junk silver or silver specie to purchase bread and milk. There are some people, even in the US, that do purchase products on a precious metal standard.
You can purchase bread and milk with old socks if the seller will accept them. My point is obvious - you buy bread and milk with money, not precious metals.

You can grow them, you know?
A bushel of peanuts or soybeans has more value than the notes used to purchase them ultimately.
How many bushels of peanuts does it take to buy an automobile?

Cutting to the chase - we use money, paper and coin. Any talk of the AVERAGE person using anything else to exchange for goods is just grandstanding.
 

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