tallowood wrote on Oct 14^th, 2026 at 11:55am:


It's a pity the US and USSR demanded absolute national sovereignty - and the veto -  in the newly created UNSC (in 1946).

Hence no security at all, as the chance to create international law (including banning insane war) was passed over. 

Hence govts. are going broke funding their "defence" budgets. 

flip

thegreatdivide wrote on Oct 14^th, 2026 at 4:37pm:



My question was tongue in cheek -
it speaks to the absurdity of our system.
It will inevitably lead to hyperinflation like Zimbabwe -
and in the meantime our savings in the Bank will become more worthless every day.

Money printing is in effect a tax on anyone with savings -
that includes at least 17 million Australians who currently have a superannuation account.


We're a $trillion in debt - the Yanks are $40 trillion in debt -
all caused by money printing. 

What I find funny about TGD is on one hand he says a currency issuing govt does not need to tax, on the other he supports a wealth tax.

lee wrote on Oct 14^th, 2026 at 6:57pm:


No dummy, I wasn't aware of the court's ruling.

Now - about crypto-currency, which Trump said was a scam before he was re-elected as President, and before he realized he could make big bucks out of it.......

Our own Govt. prints money to finance the most bloated public service in the world.


Some background for TGD:

Google AI:


The Zimbabwean government kept printing money primarily to cover massive budget deficits and fund state expenses when traditional tax revenues and foreign borrowing dried up.

Key reasons behind the money creation include:

•      Military and War Expenses: The government printed money to finance its expensive military involvement in the Second Congo War and to pay higher salaries for soldiers and police officers without budgeting for them.


•      Collapsing Tax Base & Economy: Controversial land reforms in the 2000s dismantled commercial agriculture (especially tobacco production), which destroyed the country's primary source of foreign exchange and tax revenue.


•      Political Survival: President Robert Mugabe's administration relied on printing money to reward political allies, pacify restive security forces, and fund public-sector payrolls to maintain power.


•      The Inflation Feedback Loop: As the economy shrank and goods became scarce, newly printed money caused prices to skyrocket. Because tax collection fell behind soaring inflation, the state faced severe cash deficits and resorted to printing even larger denominations—culminating in the $100 trillion note in 2009—to chase rapidly rising costs.

Bobby. wrote on Oct 15^th, 2026 at 1:58pm:


Already addressed in #394.

Namely:

"Central banks (such as the U.S. Federal Reserve and the European Central Bank) are typically banned from buying newly issued debt straight from the treasury or state.
This rule prevents "monetary financing"—situations where a government simply forces its central bank to print money to fund public spending".

Are you too thick to acknowledge it?

Quote:


Already explained  many times: in short, the Zimbabwe  govt. failed to balance demand for goods and services in the economy with the economy's capacity to supply - hence HYPER-inflation resulting from "money printing".

But such cases are exceptional; and eg, in Oz and the US, massive public debt does NOT cause hyperinflation, while central banks raise interest rates to 'keep inflation in check'.

In fact the next crisis will be causeed by private debt insolvencies.

But this system is also headed to disaster, as governments can't pay down debt without losing elections, and interest on public debt keeps rising.... the "political nightmare' facing pollies everywhere.   

Bobby. wrote on Oct 15^th, 2026 at 2:24pm:


Good


Quote:


Bad (....); Howard 'balanced the books" because of a once-off building boom in the Chinese economy, which saw iron-ore and coal royalties pouring into the Oz treasury.

(google AI)

(China consumed approximately 6.4 to 6.6 gigatons (billion tonnes) of cement between 2011 and 2013 (a span of roughly 3 years), which surpassed the 4.2 to 4.5 gigatons used by the United States during the entire 20th century (1901–2000)

But Howard joined Bush and Blair in a war which millions around the world had rejected - hence Howard's demise.


Quote:


But YOU know better now, don't you (....cough......) after I  explained why massive Oz and US public debt isn't causing hyper-inflation.