A universal basic income

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Dreamweaver
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Re: A universal basic income

Post by Dreamweaver » 27 May 2017, 19:23

Remember the efforts to boost employment by councils employing workers to lean on shovels?
https://www.youtube.com/watch?v=yuJ3NDq4AlA
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terra
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Re: A universal basic income

Post by terra » 28 May 2017, 12:31

When it all comes down to money..... that evil, fancy coloured paper (oops, I mean polyester) I begin to question, "what the hell is money" ?

Yeah, I know, it's that evil, fancy coloured paper that we are given in payment for welfare or work carried out and then we in turn pass it on to others in exchange for food, booze, clothing or energy bills.
I often wondered where in hell money comes from ?
If it's simply manufactured at the guvmin mint, why don't they just print more of it so everyone gets a fair share ?
Pardon my ignorance on this matter 'cos I'm not a Rhodes Scholar.
Bring back the good old days of barter..... no evil, fancy coloured paper stuff !
:thinking:
Just sayin'....
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Re: A universal basic income

Post by Buck_naked » 28 May 2017, 14:08

Germany tried that back in the day- trying to pay off war debts and reparations from world war 1
the german mark went from 90 marks per $1 us to November 1923, the US dollar was worth 4,210,500,000,000 German marks

Needed a wheel barrow to carry the money to buy a loaf of bread.
as to barter, i thought it was dead buried cremated, but it came up in discussions on sbs insight
recently on the value of a bride. it was expressed in cows. a bride was worth 40 cows apparently'in one example. :lol: :lol: :lol:
Last edited by Buck_naked on 28 May 2017, 18:55, edited 1 time in total.

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terra
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Re: A universal basic income

Post by terra » 28 May 2017, 14:16

"Life's too short to drink cheap wine".

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Buck_naked
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Re: A universal basic income

Post by Buck_naked » 28 May 2017, 17:31

so he wants to swap organic vodka for a car?
good luck with that barter. :lol: :lol: :lol: :lol:

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terra
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Re: A universal basic income

Post by terra » 28 May 2017, 18:19

.......it's probably a 2000 litre "cask" of moon shine Buck !
Bargain !
:heeheehee
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Re: A universal basic income

Post by Dreamweaver » 28 May 2017, 18:50

terra wrote:
28 May 2017, 12:31
-/- If it's simply manufactured at the guvmin mint, why don't they just print more of it so everyone gets a fair share ? -/-
I suppose it is related to barter. The economy has certain goods to barter with. Bartering within a family might consist of a deal for Johnny to give his Xbox to Betty if Joe will give him his iPad. Joe will, if Mary knits him a football scarf, but the wool for it belongs to Betty. She's happy to pass it on because then she'll get the Xbox. Exchanging currency for an item makes it all simpler, but the items still need to be available. More money than items leads to a stuff-up.

So the guvmin can easily print more money, but only enough to cover the goods and services available.

Have I got it right, or is this a stuff-up too? :lol:
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terra
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Re: A universal basic income

Post by terra » 28 May 2017, 19:31

Yeah, I sorta get it DW but I don't understand how the Federal Government just decides to print money.
Is there a limit to how much they can churn out ?......
It is after all, just fancy printed paper (polyester) one day and then, hey presto !.... it's worth something !
:thinking:
Yeah, I know..... I'm not the brightest color in life's box of crayons.
"Life's too short to drink cheap wine".

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Buck_naked
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Re: A universal basic income

Post by Buck_naked » 28 May 2017, 19:47

There is a lot of rocket science that goes imto managing the money supply,
very large textbooks have been written on it.
Money has 'Velocity', - just how fast a $50 bill passes thru various hands is taken into account.
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Re: A universal basic income

Post by Perrorist » 28 May 2017, 21:31

This is my attempt at an explanation, terra:

Currency is the agent of exchange for goods and services. It simplifies the process of buying and selling. The amount in circulation reflects the total value of the products and services available. If supply increases and it's not matched by an increase in those goods and services, its value depreciates, so you will need more money to buy the same item (i.e. inflation). In addition, the increase in supply lowers the currency value compared to other countries' currency.

And Buck is right: the velocity of currency in the economy also has an effect - usually inflationary, but not always. Think of it as the dollar being more productive.

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terra
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Re: A universal basic income

Post by terra » 29 May 2017, 09:10

Thanks Perry...... but geez, I'm still not quite understanding it.
I don't trust the government to release money in the right way according to conditions.
......is the Mint simply a money factory ?
"Life's too short to drink cheap wine".

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terra
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Re: A universal basic income

Post by terra » 29 May 2017, 09:32

.......and where have all those pretty green coloured $100 notes gone ?
The money factory insists that the production of these has not diminished ?..... So where are they ?
I haven't had one for a long time.
http://www.smh.com.au/business/markets/ ... 3a0yo.html
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Re: A universal basic income

Post by Perrorist » 29 May 2017, 12:09

I haven't seen a green note either for quite a while. Maybe it's because ATM's dispense $50 notes.

Yes, the Mint is a money factory.

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Re: A universal basic income

Post by Dreamweaver » 29 May 2017, 13:10

Those $100 notes might be worth more some day. The last Australian gold sovereigns were issued in 1931. I don't know what year they had to be cashed in by, but if you had any and saved them, they'd be worth a bit now.
http://www.perthmint.com.au/catalogue/a ... -1931.aspx
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lynny
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Re: A universal basic income

Post by lynny » 29 May 2017, 15:07

.
Didn't I read somewhere that they wanted the big notes out of circulation because pensioners tended to hoard them under the matress so that they could pay tradies in cash?

I know I do! :lol:

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