[04:41:10] <greves213> look, lets just get down to brass tax
[04:41:20] <greves213> why is it right for some people to be allowed to print money
[04:41:22] <greves213> and others not to
[04:41:27] <greves213> they can make as much as they want
[04:41:29] <greves213> i cant
[04:41:31] <greves213> how is that fair
[04:41:32] <Prot> you mean the government vs some company?
[04:41:36] <greves213> no, the fed
[04:41:45] <Prot> the fed is the government, whatever you believe
[04:41:53] <greves213> the us treasury issues debt to the fed which in turn prints dollars
[04:41:55] <greves213> frns
[04:42:10] <Prot> quite
[04:42:14] <Prot> though its not actually printing money, but yes
[04:42:19] <greves213> i highly suggest you watch this http://www.youtube.com/watch?v=iYZM58dulPE
[04:42:22] <Prot> whats the problem?
[04:42:27] <Prot> no, i'm talking to you
[04:42:34] <Prot> you should be able to defend your position
[04:42:38] <greves213> yeah but you dont understand how the fed works
[04:42:39] <Prot> if you really believe that strongly
[04:42:46] <Prot> you know this how?
[04:43:07] <Prot> you don't know anything about me
[04:43:10] <greves213> you dotn understand how the business cycle works, how the boom and bust occurs as a result of market manipulation by the central bank
[04:43:18] <Prot> because you say so?
[04:43:23] <greves213> dude
[04:43:26] <Prot> why change the topic again?
[04:43:28] <Prot> you said printing money
[04:43:28] <greves213> i can explain it to you
[04:43:30] <Prot> lets talk about it
[04:43:35] <Prot> explain to me why its bad
[04:43:36] <greves213> yeah they print money
[04:43:47] <greves213> because every dollar they print, the dollars in  your pocket the value goes down
[04:43:52] <Prot> so?
[04:43:59] <greves213> like in weirmar republic hyperinflation
[04:44:03] <greves213> so that is how the 1% got rich
[04:44:09] <Prot> except that its not hyperinflation
[04:44:11] <greves213> control of the money supply
[04:44:11] <Prot> its just inflation
[04:44:12] <greves213> not yet
[04:44:13] <greves213> yeah
[04:44:14] <Prot> now why does inflation occur?
[04:44:16] <greves213> why is inflation good
[04:44:23] <Prot> well tell me why it occurs
[04:44:23] <greves213> yeah explain to me how inflation occurs
[04:44:26] <Prot> no, why
[04:44:30] <greves213> no you tell me
[04:44:32] <greves213> cause youre saying its good
[04:44:33] <Prot> why does it occur, what is it reflect?
[04:44:38] <greves213> but you dont even understand it
[04:44:42] <Prot> basically all countrys grow
[04:44:47] <greves213> it reflects the rising price of goods
[04:44:49] <greves213> NO
[04:44:49] <Prot> our country is contantly growing, new population, jobs, goods
[04:44:50] <greves213> wrong
[04:45:02] <greves213> 1. i have a masters in economics to you need to watch the video i linked.  good luck friend.
[04:45:03] <Prot> if you have more value but less money, thats deflation
[04:45:07] greves213 [6ff9c329@gateway/web/freenode/ip.111.249.195.41] has quit IRC: Quit: Page closed