Posts Tagged ‘money’

Trump Demands China Send U.S. Money, Not iPhones

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President Trump in this file photo expresses disgust that he's stuck with a smartphone when he could have a fistful of dollars instead.

President Trump expresses disgust that he’s stuck with a smartphone instead of a fistful of dollars.

(2018-07-06) — As the trade war escalated between the United States and China following enactment of U.S. tariffs on some Chinese-made imports, President Donald Trump today mulled a full ban on imports of iPhones and other smartphones, insisting instead that China “send us real money.”

“We have a $375 billion trade deficit with China,” Trump said. “That means that we send them genuine dollars, and all we get in return is stuff — like iPhones. From now on, when we send them dollars, we want them to send us the same number of real dollars in return. That’s the only way to truly, truly balance the trade deficit.”

As economists have long known, paper money, and its electronic equivalent, hold intrinsic value. Objects like iPhones, steel pipe, or running shoes, are mere symbols of value that facilitate the exchange of tangible dollars. The president campaigned on boosting U.S. holdings of intrinsically-valuable currency, while also increasing how long U.S. consumers must work to afford ephemeral products, which are backed by nothing more than faith in their utility.

“To get more, and better-paying, jobs in the USA,” Trump told a rally in Detroit last night, “we need to drive up the cost of what Americans buy, so that they can get second jobs, and demand higher wages. Isn’t that why you elected me? More jobs. Higher wages.”

Pressured Democrats Drop Use of All ‘Racist’ Currency

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Democrats forbid use of racist U.S. currency

Just some of the legal tender U.S. currency which the Democratic National Committee says its members will no longer use, in hopes of “purging our despicable history.”

(2015-07-23) — The Democratic National Committee today announced that it, and its members, would stop using most United States currency, and destroy their current stockpiles, as a way of rejecting “the barbaric, racist, genocidal and capitalistic values” of the men whose faces appear on U.S. bills and coins.

The move comes in the wake of the Charleston, SC, church shooting that led to nationwide protests against, and bans of, the Confederate flag, as well as vandalization of many Confederate war memorials. This week, North Carolina Democrats, under pressure from the NAACP, dropped the presidential names from their annual Jefferson-Jackson dinner, to erase the legacy of slavery and genocide.

“The nickel, quarter, dollar bill and two-dollar bill will no longer circulate among Democrats because George Washington and Thomas Jefferson owned slaves,” said DNC chair Debbie Wasserman Schultz. “The DNC has also decided to purge the $20 bill because of what Andrew Jackson did to Native Americans. The $10 note, likewise, is forbidden for party members, because Alexander Hamilton signed the Constitution, which perpetuated slavery.”

Wassermann Schultz called on all Democrats to pay for goods and services using only the FDR dime, or the dollar coins bearing the images of Susan B. Anthony or Sacagawea.

Fifties, fives and pennies are still under a longstanding DNC ban because Ulysses S. Grant and Abe Lincoln were both Republicans.

However, the Democrats grant specific exemptions for use of the $100 bill by rap stars and Hollywood entertainment industry figures, because “the Benjamins have become essential to those culturally-valuable lifestyles.”

For all other Democrats, the C-Note is verboten “because Ben Franklin was a shameless capitalist whose rags-to-riches story gives a false impression to children about the power of free markets, and the value of hard work,” she said.