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Author Topic:   Phat Unplugged
Posts: 5076
Joined: 05-02-2006
Member Rating: 2.7

Message 89 of 171 (888675)
09-27-2021 1:06 PM
Reply to: Message 88 by Phat
09-27-2021 11:34 AM

Re: Production Backs The Dollar (clean up suggestion)
Friendly clean-up suggestion.

Where you start the quote, you also start italics which you never close, so the forum software cannot see the /quote tag.

If you remove that i tag for italics (or else close it as you had intended), then the quote tags should work correctly.

Personally, I've taken to always using the Preview button before submitting my reply. That catches most of my own tag typos.


Here is that part of Phat's Message 88 directly above with format corrections (ie, not his entire message, so still refer back to the original):

Phat writes:

This guy caught my eye:
What ‘Backs’ The Dollar? Easy: Production

Here is what he said:

Some people falsely assume that money is ‘backed’ only by something that already exists – something that exists before new money is issued. They imagine a fixed quantum of gold, for example, or some other commodity or precious metal. When these people hear pundits or politicians attacking the Fed for ‘printing money,’ they accordingly assume it’s a bad thing – something that automatically causes … inflation.

But this is a mistake – a mistake with huge consequences. And it’s not hard to see why.

Let’s start with inflation. The thing to remember about inflation is that it’s a relation. Say that again: Inflation is a relation. To simplify slightly, it’s a relation between the quantity of money on the one hand and the number of available goods and services on the other hand. Hence the colloquial definition of inflation as ‘too much money chasing too few goods.’

I know that some of you will criticize me for not putting my answer in my own words but at this point, I don't understand some of the concepts enough to know the words.

Once Phat has made the corrections himself, I will remove this from mine. Please reply to Phat's own message, not to this one.

Edited by dwise1, : ABE: QS of portion of Phat's message with format corrections

This message is a reply to:
 Message 88 by Phat, posted 09-27-2021 11:34 AM Phat has taken no action

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