Inflation Because Millennials - Bill Burr

A listener writes in about inflation.
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/ billburrofficial

[@auaggoldbug4151]

Rock beats paper

[@haraldisdead]

Bill Burr for president

[@willdrewing4049]

He and Jimmy Dore should talk.

[@haraldisdead]

The thumbnail 😆😆

[@giddy6196]

Not even close

[@fugitivemind]

"Daddy hides money in the walls because he doesn't trust banks."

[@dmc3079]

"and they get a bonus?!!!"

[@BHank762]

I understood that reference

[@MrSlowestD16]

lol, inflation still affects what's in the walls.

[@kshinokevin]

what if Daddy hid the money in stinky couches or slide it underneath the rug/carpet (in the parlor and/or living room)...

[@joecostner1246]

24 carat gold bars or maple leaves

[@thebottles2667]

Just wait until you get to second year economics.

[@badeugenecops4741]

Good one!

[@billyj3842]

Well said bill!

[@joemaxwell7185]

Well we have the Petro dollar, but all the oil here is privately owned. And since it's a global commodity it can effect your currency along with over printing

[@brushstroke3733]

The Petro Dollar is an agreement the United States has with OPEC that they will only sell their oil for U.S. dollars. This means every country in the world who wants to buy oil from one of the OPEC nations must exchange their currency for U.S. dollars first. This, along with generally low inflation, made the U.S. dollar the most stable and exchangeable currency in the world after central bankers schemed everyone off gold. That meant countries would export goods to the United States and import dollars to store in their central banks to back their own currencies, which has allowed the United States to operate with massive trade deficits (less going out than coming in) for decades. This is catching up to the United States now though, as we have spent our way into huge government and private debts and other countries, especially those of OPEC, are losing interest in allowing the U.S. to control them.

[@haraldisdead]

Gold has no inherent value either though

[@549BR]

Nixon had to because the balance of trade had reversed and countries like China would have depleted Ft. Knox. When I was growing up in the early fifties, bill's were called Silver Certificates which could be redeemed, but those were recalled too. John Kennedy promised to bypass the Fed and have the Treasury reissue Silver Certificates, but someone shot him. The Fed is a quasi-government agency, with it's Director and the various branch heads appointed by the President, with the consent of the Senate. They can be removed from office by the President.

[@nugz_cards]

Bill look up THE PETRO DOLLAR.

[@megasalexandros2397]

inflacion happend to pay the dupt

[@Skankhunt420.]

Fun fact: USA went off the gold standard when Germany called their bullshit and asked for the gold rather than the notes. The USA said piss of (we dont have it) and then then cash backed by gold was no longer a thin

[@mrnobody6447]

Wasnt that after they funded the arvn?

[@boerbeun]

Wasnt that France instead of germany?

[@FreemanVashier]

BUT if people arent earning that extra money in the same ratio that's BS. The people dont have 2x the cash to put it into circulation thus watering down the value, it's the 1% that do....

[@boerbeun]

€34.000+ anually = the 1%

[@spamosky]

It's true. I fixed the money.

[@danrockwell1883]

You explained it okay but socialism makes our dollar worth even less lol

[@randyranderson690]

Sometimes when a forest gets too wild, nature creates balance by causing a fire to burn away the old growth so new, healthy growth can take root. Khadafi was also trying to get all oil-producing mid-east countries to switch over to the Dinar and look where that got him.

[@supamatta9207]

Everbody see super size me the real way to evaluate inflation is the average bigmac s a year that will be bought despite how un nourishing! Millenials are buying 2 extra off special

[@Whitedennisrodman]

I think bill needs to understand the difference between money and currency in circulation. The mechanics of the fed aren't just telling the printers to whirr...

[@robinbennett484]

majority of the time they do not print money, they just keystroke digits. You are wrong about the fed. Gold standard limited being able to spend/build infrastructure etc & have policies. NO No No we left the gold standard in 71. Taxing puts a demand value on the dollar federal taxes do not fund spending. We are a sovereign country with a fiat currency. the federal gov can never go broke can always pays its bill due, the most important thing is ensuring we have resources for what we are spending on. So when SS checks go out there needs to be enough products/resources to purchase when the spending happens. Mr. Burr the basics of how our systems work today is outlined in a great book written by a great professor & award winning economist Stephanie Kelton it is a easy read The Deficit Myth pick it up even if you only read first few chapters it will answer your questionable responses. Our inflation today is mostly caused by Corporate Gouging part pandemic & a proxy war & Neo-Liberal BS

[@pwilliam255]

So the 6 trillion borrowed under trump didn’t add to it? Weird. Did pushing interest rates to zero when the economy was doing well have anything to do with it? No? Weird.

[@jarvis911]

Didn't Uganda just find $12 trillion worth of gold. If money was still tied to gold we'd be licking their boots right now

[@turdferguson3400]

Yeah, the same question about why money has worth can be asked about gold. Why does gold actually matter? And did you know inflation happened back when there was tons and tons of gold imported from America into Europe?

[@skeezix8156]

@@turdferguson3400. even today it’s importance remains in the technology industry due to its conductivity and corrosion resistance. Hard to imagine a world where if it was all taken away tomorrow

[@turdferguson3400]

@@skeezix8156 see, this is an application for gold that is separate from why people value it in the video. It would be the same as lithium or palladium or other industrial metals.

[@skeezix8156]

@@turdferguson3400 history has given gold it’s importance as a commodity. It’s been centuries now, it’s just accepted worldwide it seems

[@turdferguson3400]

@@skeezix8156 yes, that's exactly my question: exactly why did history give gold that importance, beyond using gold for circuitry but as a currency?

[@CupidsCrackhouse]

Great job Bill! You explained this inflation thing better than Kammy Harris would have.

[@josue24]

Bill thinks money isn’t worth something because gold lol

[@Whitedennisrodman]

"I dont get why the prices go up" literally supply and demand. More money in the system = more ability to buy things and prices go up

[@Sonny_McMacsson]

@@Whitedennisrodman Or shortages that leave a bunch of money available with unmet demand. The money supply needn't increase.

[@ducatirider7]

He’s almost right on so many things

[@zero-ol2nt]

Why would they do it? Because they are evil 🤷 Also they will NOT win because NCSWIC 🐸

[@daemonphil3132]

[@chancebrown106]

Me, literal just existing: …… KZbin video titles:

[@sloaiza81]

Bill nailed it with the socialist/communist thing.

[@nicholasagnew2792]

I love how socialism wasn't scary enough so the right had to act like communism is the same thing. Its beyond stupid.

[@Limescale12]

Spoken like a commie

[@charlespinto4608]

Can you run that by me again?

[@richardthegingerbo909]

_Are you saying people that landscape and fix air conditioners are air-quote regular?_ _Yes, I am._ *END OF RECORDING*

[@ezralastname3853]

Next time my mother in law starts giving me crap about politics and asking me questions - I'm just going to send the amygdala hyjacked LADY to your KZbin channel to give her close to my view on shit. In other words I kinda agree and go.....

[@boerbeun]

"I cant portray a vision to you in words, go watch this youtube video"

[@ezralastname3853]

@@boerbeun if a person things everyone either thinks like CNN or FoxNEWS and doesn't get out of their bubble. And thoughts ln politics can only happen within the ecosphere of approved programing on a cable news channel. You really hit a wall. There is way too much 'this is what you believe.' Being thrown at me.

[@mikebarnes3327]

Here in Canada, our government has been consistently selling off our gold reserves and they wonder why our dollar is so low.

[@jakes658]

Well it has absolutely nothing to do with how much gold your government is holding...

[@tootsitroll9785]

You know what? If I’m successful in my magnetic engine I’m making it the peoples invention. All of the people will be on my side for industry maybe I can overthrow the economy with a generator !!!! Yes I really am on the verge of mechanical motion from magnets. Well if not at least I would win one for humane kind.

[@zackclark626]

Buddy the electric motor has already been invented, and a thousand variants with the magnets turn or where the coils turn or if it runs in ac or DC or with complicated electronic drivers. You're gonna need to know about that if you intend to make a breakthrough

[@brushstroke3733]

Gotta love a good perpetual motion machine!

[@joemaxwell7185]

No you're not...

[@Exodus26.13Pi]

Wait till you discover that Hebrew Cosmology is true.

[@richardthegingerbo909]

Oy vey!

[@mikeconklin1567]

Bill has more knowledge in economics than do any politicians.

[@LilTaco777]

I thought the oil usd is dead?

[@jakes658]

Not yet.

[@brushstroke3733]

That's part of what the United States involvement in Ukraine has been about since 2014.

[@jakes658]

@@brushstroke3733 What do you mean? Making sure Russia doesn't control oil and natural gas in the region?

[@brushstroke3733]

@@jakes658 Correct. Preventing a natural gas pipeline from Russia to Europe which would have made future conflicts between them more difficult for the United States to spark for it's own purposes, and less ability to use embargo powers (although we see how little influence that has anymore now) against Russia. Also, it would mean Europe might buy less oil from OPEC, which would weaken the dollar (which is the only currency of exchange for oil with OPEC nations, currently, which gives the U.S. dollar it's function as "the Petro Dollar."

[@lickitysplit3575]

I'll admit, you're not the most logical on this one.... But entertaining still, somehow

[@thematmos2463]

I didn't know biden was a millennial

[@aaronswift7575]

I personally think that we have slept walked into a cashless society I think we should make more of a effort to take cash out because we don't pay tax on cash.because we pinging our cards all the time we paying tax on everything

[@garykiesel2583]

Bill is so SO ACCURATE on politics!!!! The socialist communist label part was spot on

[@jakes658]

Socialist communist has no meaning...

[@darrylrossetti394]

You CAN blame people that want free handouts. The money comes from somewheerr

[@shxpsixcreative4318]

Def not our defense funds, those are cool.

[@TotallyOriginality]

@@shxpsixcreative4318 we could do with a few billion less in it and still be outspending everyone. better to have high speed rails then another missile

[@redfordreddington8834]

no. You've been duped

[@shxpsixcreative4318]

Money ain't real, and they could handout everything and still have more

[@jakes658]

The people that get the majority of handouts are the wealthy...