Also, you are dead wrong about GDP, here’s a direct quote from the Bureau of Economic Analysis:
Real gross domestic product -- the output of goods and services produced by labor and property located in the United States. Source http://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm the opening line.
I’m tired of trying to educate you. You obviously have your mind made up and wish to stay ignorant. Do some research and learn about economics before you spout misinformation.
Monetary policy is how they manipulate interest rates, which is not the money supply. You'd know that if you'd ever read the minutes of the FOMC meetings. Go find out why Bernake is called "Helicopter Ben".
You might want to look into how GDP is actually calculated. I'll give you a hint, production is not part of it, but spending is. They could say that GDP is found by counting unicorns, but that doesn't change the math. What they actually do is much more important than what they say they do.
Once again, you've done an excellent job dodging my direct challenge, so I'll issue it a third time. Tell me how exchanging my work for dollars creates dollars (or at least gives them value, somehow) while exchanging my work for bitcoins does not.
http://en.wikipedia.org/wiki/Gross_domestic_product
Determining GDP
GDP can be determined in three ways, all of which should, in principle, give the same result. They are the product (or output) approach, the income approach, and the expenditure approach.
The most direct of the three is the product approach, which sums the outputs of every class of enterprise to arrive at the total.
. . .
You have a serious misunderstanding of economics and have repeatedly demonstrated your ignorance. If you can not understand the basics, you disagree with reputable, verifiable facts, then there is no point in me explaining this to you.
There’s so many things wrong with your “challenge”. “Tell me how exchanging my work for dollars creates dollars (or at least gives them value, somehow) while exchanging my work for bitcoins does not.” Is the complete OPPOSITE of what I said. They both are the same thing, your value for a dollar is what you input to earn it, just like your value for a BTC is what you input to earn it. SIMPLE. What is so hard to understand about that? Your “challenge” is easily explainable, but obviously you aren’t interested in understanding, only arguing.