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Joe Bongiovanni
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Joe Bongiovanni

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Very good luck on your effort to simply relieve the pain and suffering of our fellow human beings.
Good plan.
Hope it works.
Get calling, New York.
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Joe Bongiovanni

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Gary,
You should either LEARN about how the money-banking system works or you should STFU on the subject. Uninformed dissembling is widely apparent.
Either call this ....the misinformation about digits, cash and reserves, or just clarify that this a bunch of crap about QE crap.
I previously explained the reserve relationship here:

Here, there can be no conversion of non-cash reserves to cash beyond the existing amount of cash in existence, which is pretty much everybody's pocketbook money.
With none available beyond the presently used stock of cash (it's 1.25 Trillion BTW), the only way ANY bank can increase its cash holdings is to ask the Fed to have Treasury print some up and then collateralize that new cash into existence through lending.
There is no cash-inflation relationship from reserve-based QE.
Non-cash reserves can only create inflation if the 'excess' reserves become 'required' reserves IF the banks make a bunch of new loans.
Which they will not do..
New digits from cash will NOT have to be created...
This is either fallacy or fantasy.
Another clue
Cash money will NOT lose value..... it is what everyone will need to acquire goods and services.
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Joe Bongiovanni

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Joe Bongiovanni

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Thom Hartmann
Too bad you've advanced so far down the wrong path of MMT that you think you even understand parts of it, which are often ill-expressed.
Better that you understand MMT within a broader monetary reform context.
As recently published by the World Economic Review in the Real-World Economic Review No. 66, a paper on MMT's "bankers' school' identity is advanced by German professor of Economic Sociology, Dr. Joseph Huber:
http://www.paecon.net/PAEReview/issue66/Huber66.pdf
Thanks.
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Joe Bongiovanni

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Joe Bongiovanni

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Matt
Just found this today, along with your message.
Great stuff.
Very well done.
Thanks a lot.
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great.. glad you like it.. :)
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Joe Bongiovanni

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This is to Terry Kinder from 4 months ago. below??
Hey Terry,
Thanks for the comment and the link to the American Free Press article about why OCCUPY should be taking up the Kucinich Bill. I saw nothing scary in that article.
But, if you really think that any market-based, commodity-linked money system is NOT going to involve private people issuing our money as a debt, then I’d like to know from where you got that notion.
This is what historically is explained as the private bankers’, debt-based system of money.
If you’re gonna change that, do it with some pizzaz.
To be clear, so you understand, this is OUR money system, and we want it back to work for The Restofus.
Now.
Thanks.
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Joe Bongiovanni

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It's kind of sad that the 'toon lays out the REAL flows in the beginning where the private sector issues the money that the GUV collects and uses and thus MUST replenish the private sector, where the one-percent doing the monetary-asset issuing are collecting its rent from the Ninety-nine Percent of The Restofus.
Those R The real facts, not some stylized wishful thinking.
Then.... (1:30)
"IF only the sovereign GUV can issue US Dollars....we have the diagram upside down."  But, you don't.
"Dollars" are a unit-of-account identity that are worn by all the bank-credit that is privately created in this country.
Since the private banks create ALL the money in our monetary metrics(c.e.), it should either stand to reason that the US GUV is NOT the only entity that can create US Dollars, or some legal, factual scientific proof is needed to put some flesh on those 'monopoly-issuer' bones.
Absent that, a well done 'toon, but non-informing at the level of money science.
Have a read of the scientific history in the Real-World Economic Review here:
http://www.paecon.net/PAEReview/issue66/Huber66.pdf
Me thinks the jig is up on this 'monopoly-issuer' fallacy.
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+Joe Bongiovanni Joe, I think you are on another internet. This is what I see and it makes no sense:

"RIGHT Below here \/  \/  \/  
That blue type is a link to my video..
One Month Ago.
NOOOOO, they don't.
Need another?"

How do you expect me to get "money" right when you keep confusing me like this? Here is a link to my video: Diagrams & Dollars: Modern Money Illustrated. Simple enough. Where's yours?

*fights you*
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Joe Bongiovanni

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Who creates the money as debt?  Not the Ninety-nine percent.
http://youtu.be/zZ3bGRWkRpU
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Joe Bongiovanni

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Joe Bongiovanni

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Just?
privately created money was JUST a liability of the bank.....
Too bad you didn't have your safety glasses on there, pardner.
In order for any private money to exist, there would have to be a debt. A loan.
Then....
government-created money as a liability of the government.
So, let's take coins.
A government created money form.
The issuance into circulation of which is a governmental function, for which the full benefit reverts to the taxpayers.
There is no debt involved in the issuance of this government 'liability'.
Because it is an equity form of a liability of the government..... inasmuch as the government has business financial accounts.
Then, why do people accept these liabilities?
Unfortunate answer on the private debt liabilities side is that they are legal to tender in payment for any debt public and private, just like federal reserve banknotes.
And there is no alternative.
Why not accept them?
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Joe Bongiovanni

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This is to Matthew Moore
THANKS a great deal for this.
Why Borrow? - Who Creates the Money?
Just found it.
OK, Jason?
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