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Title: Trump: U.S. can never default because it prints money
Source:
Politico
URL Source: http://www.politico.com/story/2016/05/trump-no-debt-default-222957
Published: May 9, 2016
Author: Nick Gass
Post Date: 2016-05-09 14:26:47 by Hondo68
Keywords: None
Views: 2838
Comments: 22
Donald Trump assailed the media on Monday for what he said was a misrepresentation of his comments on debt, rejecting the notion that he would have the United States default on his debt. "I said if we can buy back government debt as a discount. In other words, if interest rates go up and we can buy bonds back as a discount, if we are liquid enough as a country we should do that. In other words, we can buy back debt as a discount," the presumptive Republican nominee said in a telephone interview on CNN's "New Day." Those who said he wants to buy debt and default on it are "crazy," he added. "This is the United States government. First of all, you never have to default because you print the money. I hate to tell you. So there’s never a default. But the point is it was reported in the New York Times incorrectly," he said, referring to a critical Times article that ran on Friday. That article examined an interview Trump gave to CNBC last Thursday in which he suggested that he could reduce the national debt by persuading U.S. creditors to accept less than full payment. "It was reported in the failing New York Times and other places that I want to default on debt," Trump said. "You know, I’m the king of debt. I understand debt probably better than anybody. I know how to deal with debt very well. I love debt but you know, debt is tricky and it’s dangerous and you have to be careful and you have to know know what you're doing. If there's a chance to buy back debt as a discount, interest rates up and the bonds down and you can buy debt. That’s what I'm talking about." No one would ever confuse business dealings with government practice, Trump suggested, remarking that the government would not ask creditors to buy back debt at a discount. "In business, that happens all the time. I bought mortgages back when the market went bad, I bought mortgages back at tremendous discounts. And I love doing it. I mean, there’s nothing like it. Actually, it gives me a great thrill," he said. "But in the United States with bonds, that won't happen. Because you know, in theory the market doesn't go down so that you default on debt. And that’s what happened." "So here’s the story, just to have it corrected. If we have an opportunity where interest rates go up and you can buy back debt as a discount," he explained. "I always like to do that, if you can do it. But that’s all I was talking about. They have it like I'm going to go back to creditors and I’m going to renegotiate restructured debt. It's ridiculous and they know it's ridiculous but they print it out wrong purposely." Trump then called into Fox Business Network where he reiterated much of the same, calling it a "wonderful thing" if the U.S. government is able to buy back bonds at a discount. "All I said is that if interest rates go up, we'll have a chance to buy back bonds at a discount, which is standard," he told Maria Bartiromo. "Certainly I'm not talking about renegotiating with creditors." Poster Comment: Another Keynesian ponzi scheme con man."You know, I’m the king of debt," Donald Trump said. "I understand debt probably better than anybody. I know how to deal with debt very well."
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#1. To: hondo68 (#0)
(Edited)
"Who knows more about finance than me!" http://www.google.c om/search?q=Trump+mortgage+who+knows+more+about+financing+than+me And in related news... Thus the key thing to understand about Europe is that no country in Europe is solvent. No country can pay back its debts without the central bank printing money. The only reason Greece ran into trouble first is due to the perception of insolvency. Since Germany is perceived as responsible, people still buy Germans bond. The entire Euro- Zone is having a Wile E. Coyote moment. https://devinhelton.com/2011/12/20/europes-crisis/
Trump understands the issue better than the reporters and media do. And the comment about printing money meaning never defaulting is largely correct, except it's the Fed that does that, not the US gov, and the US gov has to borrow it from the Fed. But the US gov can borrow as much as it wants. Sure it can and is trashing the economy, but it does it without defaulting. But clearly Trump is not saying it's a good idea.
Don't forget that Trump is going to build the wall. He is going to make it 5 feet taller, now. Mexico is going to pay for it. And it will be named the, "Great Wall of Trump."
And yet his disciples still want to insist he is a genius when it comes to money. BOYCOTT PAYPAL AND CLOSE YOUR PP ACCOUNTS NOW! ENCOURAGE OTHERS TO DO SO,TOO! ISLAM MEANS SUBMISSION! Why is democracy held in such high esteem when it’s the enemy of the minority and makes all rights relative to the dictates of the majority? (Ron Paul,2012) American Indians had open borders. Look at how well that worked out for them.
Bank of Trump & Friends and the FED are too big to fail, and too big to jail, so just borrow and print another YUGE! bailout. And learn Chinese. Uhuh. All by executive command/order. Or something.
No. Greece cannot print Euros or control the value of that currency.
But clearly Trump is not saying it's a good idea. Very true. Note also U.S. Const. A1, S8, C5 says "The Congress shall have the power to coin Money, regulate the value thereof...." They can coin trillion dollar coins.
And yet his disciples still want to insist he is a genius when it comes to money. -- sneakypete Trump was playing Cap't Obvious to an idiot. Obviously, printing/coining worthless money to pay interest on a worthless debt has INDEED been a valued function of governments since money was invented.
But the folks who declared Greece insolvent could... print Euros. Control the value of the Euros, OTOH -- That depends on what happens to all that A$$paper circling the vortex of the global economic sewer. How's Douchebank these days?
Has Cap't Obvious figured out why Trump Mortgage FAILed yet? "Who knows more about financing than me!" --Wile E. Trump on Trump Morgage http://www.google.com/? gws_rd=ssl#q=trump+mortgage+%22who+knows+more+about+financing+than+me%22
Of course. Non-Greek folks control the current Greek currency. That's what they get for joining the EU; a loss of sovereignty.
Looks like someone would ask him how well that worked out for Germany in the 20's and 30's. Granted,he would have no idea what you were talking about,so he would probably say something like "Marvelous,just marvelous!" BOYCOTT PAYPAL AND CLOSE YOUR PP ACCOUNTS NOW! ENCOURAGE OTHERS TO DO SO,TOO! ISLAM MEANS SUBMISSION! Why is democracy held in such high esteem when it’s the enemy of the minority and makes all rights relative to the dictates of the majority? (Ron Paul,2012) American Indians had open borders. Look at how well that worked out for them.
Of course. Non-Greek folks control the current Greek currency. That's what they get for joining the EU; a loss of sovereignty. Which is what the 'murikan voters will be getting when the globalists finally import enough 3rd world voters to the US to vote for a Constitutional Convention to dissolve the union and join "World Wide Government,Inc". BOYCOTT PAYPAL AND CLOSE YOUR PP ACCOUNTS NOW! ENCOURAGE OTHERS TO DO SO,TOO! ISLAM MEANS SUBMISSION! Why is democracy held in such high esteem when it’s the enemy of the minority and makes all rights relative to the dictates of the majority? (Ron Paul,2012) American Indians had open borders. Look at how well that worked out for them.
Well, the 3rd world voters with enough brains to even know what this is will be saying, "wait a minute, we've got a good thing going: we don't want to end it." The peasants will just be saying 'gimme gimmee gimee" Obama has played at being a president while enjoying the perks … golf, insanely expensive vacations at tax-payer expense. He has ignored the responsibilities of the job; no plans, no budgets, no alternatives … just finger pointing; making him a complete failure as a president
10 ft taller.
Trump was playing Cap't Obvious to an idiot. Obviously, printing/coining worthless money to pay interest on a worthless debt has INDEED been a valued function of governments since money was invented. We all know it doesn't work, and that was the obvious point that cap't Trump (soon to be CnC) was making. I'll agree that Trump isn't a genius about money, but he sure ain't stupid, either.
Clear proof the novice politician is filled with tall tales and you bought the farm! When are you going to learn?
No,they won't. They won't because they have never lived in a free country before so they don't know what they will be missing,and none of them came here to be free in the first place. They came here for all the "free stuff",not the freedom. BOYCOTT PAYPAL AND CLOSE YOUR PP ACCOUNTS NOW! ENCOURAGE OTHERS TO DO SO,TOO! ISLAM MEANS SUBMISSION! Why is democracy held in such high esteem when it’s the enemy of the minority and makes all rights relative to the dictates of the majority? (Ron Paul,2012) American Indians had open borders. Look at how well that worked out for them.
He is,mostly,smart enough to follow the advise of the people he hires to advise him,anyhow. He's just so in love with the sound of his own voice that he sometimes forgets what he has been told to say and says what sounds good to him. BOYCOTT PAYPAL AND CLOSE YOUR PP ACCOUNTS NOW! ENCOURAGE OTHERS TO DO SO,TOO! ISLAM MEANS SUBMISSION! Why is democracy held in such high esteem when it’s the enemy of the minority and makes all rights relative to the dictates of the majority? (Ron Paul,2012) American Indians had open borders. Look at how well that worked out for them.
Which describes just about every President I know of, -- or read about.. 'President Trump' is becoming inevitable, so we might as well relax, lay back, and enjoy what is going to happen. (This'll be #13 for me, starting with FDR)
Which describes just about every President I know of, -- or read about.. Ok,I will grant you a small point on that one. 'President Trump' is becoming inevitable, so we might as well relax, lay back, and enjoy what is going to happen. Yeah,I don't see that happening. BOYCOTT PAYPAL AND CLOSE YOUR PP ACCOUNTS NOW! ENCOURAGE OTHERS TO DO SO,TOO! ISLAM MEANS SUBMISSION! Why is democracy held in such high esteem when it’s the enemy of the minority and makes all rights relative to the dictates of the majority? (Ron Paul,2012) American Indians had open borders. Look at how well that worked out for them.
--Wile E. Trump, Suuuuper genius
What's the schedule for firing up the ACME petro-Rubil printing press in the basement of Trump Tower Moscow?
#2. To: hondo68 (#0)
#3. To: VxH (#1)
"Who knows more about finance than me!"
--Wile E. Trump, Suuuuper genius
#4. To: hondo68 (#0)
Trump: U.S. can never default because it prints money
#5. To: Pinguinite, Trump too big to fail, too big to jail, End the FED (#2)
But clearly Trump is not saying it's a good idea.
"We (government) need to do a lot less, a lot sooner" ~Ron Paul
#6. To: buckeroo (#3)
#7. To: VxH (#1)
The only reason Greece ran into trouble first is due to the perception of insolvency.
#8. To: Pinguinite, hondo68 (#2)
And the comment about printing money meaning never defaulting is largely correct, except it's the Fed that does that, not the US gov, and the US gov has to borrow it from the Fed. But the US gov can borrow as much as it wants. Sure it can and is trashing the economy, but it does it without defaulting.
#9. To: sneakypete, y'all (#4)
(Edited)
'Trump: U.S. can never default because it prints money.'
#10. To: nolu chan (#7)
(Edited)
No. Greece cannot print Euros
#11. To: tpaine, sneakypete (#9)
(Edited)
Trump was playing Cap't Obvious to an idiot.
#12. To: VxH (#10)
But the folks who declared Greece insolvent could... print Euros.
#13. To: tpaine (#9)
Obviously, printing/coining worthless money to pay interest on a worthless debt has INDEED been a valued function of governments since money was invented.
#14. To: nolu chan (#12)
But the folks who declared Greece insolvent could... print Euros.
#15. To: sneakypete (#14)
Which is what the 'murikan voters will be getting when the globalists finally import enough 3rd world voters to the US to vote for a Constitutional Convention to dissolve the union and join "World Wide Government,Inc".
#16. To: buckeroo (#3)
Don't forget that Trump is going to build the wall. He is going to make it 5 feet taller, now.
#17. To: sneakypete (#13)
And yet his disciples still want to insist he is a genius when it comes to money. -- sneakypete
Looks like someone would ask him how well that worked out for Germany in the 20's and 30's.
#18. To: A K A Stone (#16)
10 ft taller.
#19. To: no gnu taxes (#15)
Well, the 3rd world voters with enough brains to even know what this is will be saying, "wait a minute, we've got a good thing going: we don't want to end it."
#20. To: tpaine (#17)
I'll agree that Trump isn't a genius about money, but he sure ain't stupid, either.
#21. To: sneakypete (#20)
He's just so in love with the sound of his own voice that he sometimes forgets what he has been told to say and says what sounds good to him.
#22. To: tpaine (#21)
He's just so in love with the sound of his own voice that he sometimes forgets what he has been told to say and says what sounds good to him.
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