WOODWARD: Trump plan to eliminate federal debt, "print money"! COHN was stunned

C

Centerleftfl

Verified User
WOODWARD: Trump plan to eliminate federal debt, "print money"! COHN was stunned

I was a fucking PSYCH major even I KNOW this leads to INFLATION! Did I think TRUMP was full of shit when he made the claim about how well and cleverly he used DEBT? Oh hell yes. I LAUGHED. Unless, of course, going bankrupt x 3 or 4 is 'managing debt' well. (Call me crazy, but when I think about managing debt it includes PAYING IT OFF too).

Imagine Cohn's surprise when TRUMP said this.


Trump's plan to help eliminate the federal debt was to print money: Woodward book

BY ARIS FOLLEY - 09/11/18 01:56 PM EDT 139

Trump's plan to help eliminate the federal debt was to print money: Woodward book

President Trump allegedly suggested to his chief economic adviser last year that the government should print more money to help eliminate federal debt, according to an excerpt from Bob Woodward’s new book.

The veteran Watergate journalist wrote in his new book — “Fear: Trump in the White House” — that Gary Cohn, the now-former top economic adviser, told Trump that the Federal Reserve was likely to increase rates during his first term in office, in an excerpt first reported by Business Insider.

“We should just go borrow a lot of money, hold it, and then sell it to make money,” Trump reportedly said in response.

Cohn was “astounded” by the president’s response, which he reportedly said illustrated a “lack of basic understanding” about how federal debt works.

Trump, who was the president-elect at the time and had promised to wipe out U.S. debt in eight years, reportedly offered a solution: “Just run the presses — print money.”

Woodward wrote that Cohn then went on to explain how printing more money is thought to lead to inflation and could be catastrophic for the fiscal health of the U.S....


Trump's plan to help eliminate the federal debt was to print money: Woodward book
 
Why did Dumpy the orange toad think that if he borrowed money, held it, then sold it, he could automatically sell at a profit?

Let's assume he borrows 14 trillion, that is an account debit of 14 trillion on top of the 14 trillion already owed.
So now day two, the US owes 28 trillion and has 14 trillion on hand as a cash credit. So while 28 trillion dollars in debt,
he "holds it" meanwhile racking up interest on 28 trillion. So whenever he "sells" his 14 in cash, it better be worth
about 32 trillion to settle the debt.

He is a FUCKING RETARD!
 
Tranquillus in Exile said:
“Just run the presses — print money.”

I bet he heard that's how they did it in Weimar Germany. :laugh:
Click to expand...

I bet he put that on his Wharton finance midterm exam stapled to a hundred dollar bill.
I took public finance as part of my undergraduate curriculum en route to a dbl major before my juris doctorate.
Funny my Richard and Peggy Musgrave textbook omitted Trump theory of doubling down on debt
until you crush your creditors tactic of raising revenue.... Maybe I was absent that day.
 
Frank Apisa said:
I think your point is that Donald Trump is a fucking moron.

Okay.

I agree.
Click to expand...

On the contrary, he will print money and use it to buy all the other money. Then we'll have two monies.
If this doesn't make sense to you then all I can say is you lack Trump's aptitude
 
giphy.gif
 
Tranquillus in Exile said:
“Just run the presses — print money.”

I bet he heard that's how they did it in Weimar Germany. :laugh:
Click to expand...

Picture of a guy going out for a loaf of bread in the Weimar Republic...and some kids playing with stacks of billions of marks.


Children+playing+with+stacks+of+hyperinflated+currency+during+the+Weimar+Republic,+1922+(1).jpg


Donald Trump is an idiot.

His supporters are not even that smart!
 
Micawber said:
I bet he put that on his Wharton finance midterm exam stapled to a hundred dollar bill.
I took public finance as part of my undergraduate curriculum en route to a dbl major before my juris doctorate.
Funny my Richard and Peggy Musgrave textbook omitted Trump theory of doubling down on debt
until you crush your creditors tactic of raising revenue.... Maybe I was absent that day.
Click to expand...

Again, whatta I know? Sure doesn't sound like a sound tactic to me!

PS And what happens when CHINA, a frenemy, is holding 20% (ish) of our debt? Doesn't that make our T bills, LESS valuable (or value-less)? Won't that piss off the holder? Can't they then call the debt?
 
Last edited:
The Obama has already, in effect, printed not one but two trillion dollar coins. Where were you liberals on this in 2013?

In 2007, the monetary base – the amount of money our government printed in its entire 231 years of existence totaled $800 billion. Today [January 2013] it totals $2.8 trillion. And it increased by this amount via the process just described – the Treasury’s effective minting out of thin air two $1 trillion platinum coins.
Click to expand...

The Treasury Has Already Minted Two Trillion Dollar Coins

The effect of this:
Now what happens when the Treasury spends its freebee money? It raises prices of the goods and services we buy or keeps them from falling as much as would otherwise be the case. Either way, the money we have in our pockets or in the bank or coming to us over time as, for example, interest plus principal on bonds we’ve bought in the past – all this money loses purchasing power. So we are effectively taxed $2 trillion.
Click to expand...

Now, what makes this all so extra delicious:

The "tax" only applies to cash or savings. It doesn't negatively affect real estate, stocks, gold, or any non-paper assets- in fact it makes their market value increase, because the real value of the dollar decreases. These are all investment vehicles of the wealthy, so they all get richer. The "tax" applies mostly to the poor, who don't own homes, don't have any stock portfolios, and may have a few dollars stuck into a savings account for a rainy day.

The rich get richer, and the poor get poorer. All because of The Obama's fiscal policies. Want more evidence? Look at how much the wealth gap has increased over the Obama years.

The poor are too stupid to understand this. They vote Democrat because the DNC says that it cares about them. Yet this fully explains why uber rich like Buffet, Soros, and Silicon Valley execs ALL support the DNC.
 
I know I was taught inflation would result. But who knows where that wisdom comes from and if it's indeed true? Obviously the government has to decide how large to make the money supply. And obviously they must grow that size to meet the demands of an ever increasing population. It's really not clear. We all watched them raise the debt ceiling when Obama was in charge. Back when Cheney said deficits don't matter, the liberals freaked, but a few years later they were calling people knuckledraggers for suggesting we not increase the debt ceiling. Partisan economics is pretty easy to figure out. What's the real truth? If we don't know the optimum money supply, we could be stifling ourselves.
 
tinfoil said:
I know I was taught inflation would result. But who knows where that wisdom comes from and if it's indeed true? Obviously the government has to decide how large to make the money supply. And obviously they must grow that size to meet the demands of an ever increasing population. It's really not clear. We all watched them raise the debt ceiling when Obama was in charge. Back when Cheney said deficits don't matter, the liberals freaked, but a few years later they were calling people knuckledraggers for suggesting we not increase the debt ceiling. Partisan economics is pretty easy to figure out. What's the real truth? If we don't know the optimum money supply, we could be stifling ourselves.
Click to expand...

It's not all that complicated: supply and demand. Responsible FedCo will increase the money supply as the economy expands. Irresponsibly GovCo, like The Obama, increased it when the economy was retracting.

Liberals will always point to rising stock market prices during Obama, claiming economic growth. But all Obama did was to devalue the dollar. It then costs more dollars to but the same widget. Doesn't matter if that widget is a stock or a loaf of bread.
 
You must log in or register to reply here.
Back
Top