lee wrote on Sep 9^th, 2025 at 1:43pm:


The falsity inferred in your question: "don't you believe in individuality?"

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Low IQ: the government must subjectively determine support levels required for objectively different levels of incapacity.

......

As for 'taxpayer' money and how the government can 'save' it (the subject of this thread), lee is totally confused, so I'll lay out a few facts re central bank money creation. 

Note: we have established that private ("commercial") banks create new money ex nihilo when they write loans (extend credit) to credit worthy customers.
This is the means by which most new money enters the economy - in the form of electronic money, eg when wages are paid into bank accounts, rather than notes or coins. 

In contrast, central bank operations are much more diverse;  central banks can (a) sell bonds, or (b) buy bonds, or (c) create new money:

Examining (c) first:

[google)
The central bank creates new money when it buys government bonds (see (b) below); to pay for these bonds, the central bank creates electronic money and credits the reserve accounts of private banks. 

(note: not the same as government borrowing money  when the government (not the central bank) issues, ie, sells bonds to the public on the 'primary' market. )

re (a): central bank bond-selling operations  (not to be confused with government selling bonds the public):

(google)

Selling bonds to banks: The central bank sells government bonds it holds to commercial banks and other financial institutions.

A central bank sells government bonds as a method of open market operations (OMOs) to influence the money supply and interest rates. When a central bank sells government bonds, it absorbs money from the financial system, reducing the amount of money available to commercial banks. This action is part of a contractionary monetary policy, leading to an upward pressure on interest rates.

c.f.

(b) central bank bond-buying  operations:

(google)

Central banks, such as the Reserve Bank of Australia (RBA), buy government bonds, primarily in the secondary market from financial institutions, not directly from the government. This activity is part of monetary policy, where bond purchases, known as quantitative easing (QE), are used to influence interest rates, inject liquidity into the economy, and support financial markets during times of crisis, like the covid-19  pandemic

In conclusion, in the case of either  (a) or (b), the central bank doesn't "print" (or or create)  money ex nihilo, it buys or sells bonds which already exist; no new money is created.

But  lee's contention that only the central bank "prints" money is wrong, as noted above in the case of (c);  lee is conflating and confusing the different central bank operations in the primary and  secondary  markets.

lee wrote on Sep 10^th, 2025 at 5:30pm:


Low IQ: your question  inferred I don't believe in individuality -   a statement about my belief. 

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Low IQ, I criticized you for saying the (objective) severity of an individual's disability depends on the individual's ability to cope.  Your ignorance of severe disability is breathtaking. 

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Dummy, YOU are saying it when you say the central bank "print" money, thereby  showing your ignorance of central bank monetary operations.

I have shown that central banks create money ex nihlo (just as private banks do), when central banks  buy government bonds in emergencies like recessions (eg 'QE') or pandemics. 

Other times they neither print nor create money. 

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The central bank monetary operations I posted  at length  are not "my beliefs",  they are fact.





   

lee wrote on Sep 12^th, 2025 at 1:40pm:


Proving you are a dummy and a fraud, and too dumb to realize it; you didn't "merely" ask a question; you were attempting to defend your proposition the level of government support required for cases of severe disabilty is related to the individual's "ability to cope", and that therefore the "peoples' party" shouldn't  try to save money by moving less-disabled people off the expensive NDIS.

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subjective ....objective....the point is the government has to move  people with moderate disability off the expensive NDIS which is designed for people with severe disability.

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More low IQ fraud: "print" = print = create new money ex nihilo. And central banks mostly utilize already existing  money, apart from special instances where they also create new money, as already noted.   Your error exposed next: 

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Good to see you can actually do some research, but paper money and coin are a tiny proportion of money; eg, most  money exists as numbers in computers these days - a fact you apparently  haven't caught up with yet, which is why you  are  erroneously differentiating between  "printing" (sic) and - mere - printing.....

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Says the dummy who hasn't realized: the vast majority of new money (created ex nihilo in banks)  is in the form of numbers in computers, and most of it is exchanged via bank digital (electronic) transfers or consumers' chip-enabled cards at POS. No "paper money" required.

Now perhaps you (correction, others...)  can see why currency-issuing governments shouldn't be taxing or borrowing in order to spend; their proper task is not to balance a budget, but to manage resource utilization in the combined public and private sectors,  to avoid inflation.

Otherwise the globe is heading to financial and political chaos, as goverments everywhere impose 'austerity' while trying to 'save' money, to keep the bond-traders at bay; see the latest MMT article:

https://www.ozpolitic.com/forum/YaBB.pl?num=1645944963/1230#1239

#1239.

lee wrote on Sep 12^th, 2025 at 6:25pm:


No;  proving Conservative 'god-given individual rights' - asserted by Kirk and you - are delusional, and  - being delusional ,you can't see your error.

The human condition.

And on topic:  efficient funding of the NDIS  requires acknowledgement of degrees of severity re an individual's disability, not your obfuscation re individuals' 'different capacities to cope'.   

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No, you  deluded Conservative; like the "peoples' party", I choose to acknowledge degrees of disabilty requiring different levels of support.   

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Proving the delusional Conservative can't even see that the explanation of the various central bank operations I provided  - outlined in any google search - says it.   

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Says the blind Conservative who didn't address even ONE  point about the various central bank operations mentioned above, one of which involves creating money, cf. printing - or is it "printing" money .....(in your ignorant  terminology).

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Oh dear - Conservatism  cripples the brain: you pointed to "...the factory where all of England's banknotes are printed....", as if that has any relevence to central bank money creation/printing (or is it "printing"....)  


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As already mentioned, that link was provided for the benefit of those who might be interested in/capable of learning how to create an economy which works for all 

The bond market is a private sector scam, as noted in the MMT thread.

Blind Conservative ideologues like Kirk and dummies like you aren't capable of learning - hence you can't even acknowledge  the reality of the  dysfunction in  our current neoclassical-based economic system which churns out billionaires (while Tesla is offering Musk a cool trillion!...more than the gdp of 3/4 of the world's nations....), while failing to fix increasing inequality manifested in economic disadvantage, homelessness, and cost of living  crises.

lee wrote on Sep 13^th, 2025 at 1:17pm:


Proving the ideologically blind don't bother to - or are incapable of -  defending their stance. 

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ah - the Conservative's crippled brain won't acknowledge the govt has to determine  the severity of the disability,  in order to support the individual as required. 

Nothing to do with my "rights" or yours  (- which btw you think are god given/inherent/natural....)

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Fascinating debate,  showing why democracy is doomed to fail;  US democracy is well on the way to collapse, as the Right claims Kirk was on 'God's side'.

Likewise, Lee thinks central banks print money, as opposed "printing it"  (....), and he wants a link to prove the difference, but no link exists because central banks do  "print money" (ie create it ex nihilo) in very limited circumstances:

google

"QE is nicknamed "money printing" because the central bank creates new digital money to buy assets like government bonds from commercial banks, effectively injecting cash and increasing the money supply, even though no physical banknotes are printed. This process is similar to "printing money" because it results in more money circulating in the economy, which banks can then use to lend to businesses and individuals, stimulating economic activity"

The 2nd reference to "money printing", ie, "is similar to", refers to the central banl creating money ex nihilo, not to buy existing assets (like government bonds, as in QE) but to directly fund government spending - inflationary unless necessary inflation-control mechanisms are in place (as in the MMT proposition).

[Note: QE as a strategy to deal with asset devaluation - and loss of personal wealth - during a recession is flawed; people don't want to borrow money from banks during a recession].

This "money printing" is mentioned  in the MMT post #1244. under the heading

Spending cuts twice as popular as tax rises with public

(The UK Labour government's) instincts may be to raise taxes further or to print money.

ie via a central bank QE government bond buying program , or to directly fund goverement spending (the MMT proposition).

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Physical printing of notes - being a tiny proportion of money supply in a modern,  near-cashless economy -  is irrelevant to creation of money ex nihilo, as noted in the QE nicknamed as "money printing mentioned  above.

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The explanation re QE nicknamed as money printing isn't delusional, its reality.

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There you go, the Conservative brain crippled by self interest, thinks the current egregious economic status quo - churning out billionaires while people are homeless, can't be changed.

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Your error - typical of the blind, self-interested Conservative brain: eradication of poverty doesn't mean "somehow we will all be equal".

lee wrote on Sep 15^th, 2025 at 5:47pm:


Today's news:

(Alternet)

"Trump admin working to criminalize dissent as 'domestic terror' in wake of Kirk murder".

Even as investigators work to determine the motive of Kirk’s killer, members of Trump’s inner circle and supporters have amplified an unfounded narrative of a coordinated leftist movement targeting conservatives.

One man's beliefs are another man's reality.  Ouch, we have a  problem....

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You criticized the "peoples' party" for wanting to identify levels of disability so that the government can save 'taxpayer money'.

Your belief that the level of disability is a matter of individual  choice is delusional; you say "some individuals can cope better than others".......so,  exactly who does need support by the NDIS?

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Central banks and private banks all create new money out of nothing, mostly in private banks. 

But you still think only central banks do so....as opposed to private banks who also create money exhilio, ie you still believe printing money is different to  "printing money" which is different to creating money ex nihilo. You are wrong - not a  "belief" on my part.


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Dummy;  nickename in that google quote refers to common usage, ie creating new money out of thin air, a reality which the general  public wrongly thinks is  an illegitimate operation like counterfeiting. whereas private banks  (and the central bank in limited cases)  do it legally all the time.


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Dummy; "printing money"/printing money/ creating money ex nilhilo refers to the central bank creating money ex nihilo, not to buy existing assets (like government bonds, as in QE) but to directly fund government new spending.

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Dummy, the quote refers to the general  public's understanding of money printing which you claim is "money printing'" - as if there is a difference. 

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And what is your interpretation, dummy?

Show where my 'interpretation' is wrong.

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Nicknames in the google quote refers to  common usage, see how your failure to understand that simple point results in your GIGO, so now you are sayng common usage "isn't applicable". 

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To repeat; the explanation re QE which is nicknamed - ie referred to in common usage - as money printing isn't delusional, its reality.

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Indeed the Modern Money school of econonomics lays the groundwork for creating an economy which works for all, in our post gold-standard, fiat currency era.

[quote]So how would you achieve it without taking from the rich and not so rich, to reach this nirvana? Keep "printing money"?

Now you are at least daring to look in the right direction... amazing, even a crippled, self-interested, Conservative brain can look at "printing money", though apparently not at new ways of controlling inflation, hence you have be dragged kicking and screaming  to even consider an economy which works for all.

Vic wrote on Sep 3^rd, 2025 at 2:39pm:


Turned into a giant rort by the leftie bureaucrats within the system.

Gnads wrote on Sep 17^th, 2025 at 6:13pm:


That was overseen - in the main - by a revolving set of incompetent rightard Ministers who did nothing to stop it.