re: #386 Obdicut

No, I’m not. The technical meaning of monetary base is not just money the government prints in order to buy things. That is simply wrong.

I didn’t say it was. I said it was necessary to understand the velocity of money to understand the monetary base.

You’re promoting a dude who likes the FairTax, the biggest pile of crap in economics going. Congrats.

That is not what you said.
Your exact words:

The monetary base is not simply the amount of money that the US government ‘prints’. If a bank makes a profit on an investment, that increases the monetary base.

This is just flat wrong. Period. No way around it WRONG. There comes a point at which debating skills do not replace some combination of actual knowledge, and humility. Welcome to that point.