[–] AinzOown 0 points 3 points 3 points (+3|-0) ago (edited ago)
Help me understand the "Federal" Reserve a bit more. They loan money out of thin air and then charge interest on the money they loan. Where do the interest payments go and who gets to keep them? Why did we let outsiders control the Federal Reserve?
[–] Cantilever [S] 1 point 1 point 2 points (+2|-1) ago
This is the best explanation I've seen yet
[–] AinzOown 0 points 1 point 1 point (+1|-0) ago
Cool video, I can see they have more parts that hopefully answer this question but: It presents a huge problem and wants us to share and inform everyone, but it doesn't present a solution. It's like a call to get upset but no plan of action. I get it, ok now what? How do we fix this problem and what's a better solution?
[–] avgwhtguy1 0 points 1 point 1 point (+1|-0) ago
Gold and silver are not the best currecy backers, they're a dogma of the past. Mainly, the amount of gold in circulation has little to do with the amount of economic activity, so having enough currency becomes a problem, and likewise hoarding.
Currency should be created at the same rate as the economy grows. It shouldn't be valueless, but it shouldn't be more rare than well directed hard work.
[–] EyeOfHorus 0 points 1 point 1 point (+1|-0) ago
You just explained why gold and silver are the best money. The amount of work required to mine and mint one ounce of gold serves as the baseline to define one unit of wealth. It is the foundation upon which all other values, labor or material, can be compared.
[–] avgwhtguy1 0 points 1 point 1 point (+1|-0) ago (edited ago)
If that were the case a world in which everyone mined gold would have more economic value than a world with doctors, scientist, engineers, farmers, tractors, televisions, etc.
Gold is one step above salt, we should keep evolving, not regress.
[–] go1dfish 1 point 0 points 1 point (+1|-1) ago
You can’t have a labor backed economy without dictating the value of labor from the top down.
Currency doesn’t need backing, it needs rigidly enforced rules and a lack of centralized control. These are achievable through backing with a limited commodity like gold.
Money is speech.
[–] avgwhtguy1 0 points 2 points 2 points (+2|-0) ago
All economies are labor backed. I think you meant labor backes currency, which I dont advocate for, I just said you cant have a rare currency or your economy will be stagnant.
How can you say currency doesn't need backing and then back it by gold?
I agree it needs rigid rules, but that's not a good enough reason to back it by gold.
There are better ideas, don't be afraid to think outside the goldbox.
[–] Cantilever [S] 1 point 1 point 2 points (+2|-1) ago
Gold and silver are not the best currecy backers, they're a dogma of the past. Mainly, the amount of gold in circulation has little to do with the amount of economic activity
The current amount of economic activity has been over inflated by a century of fiat. We need to slow the fuck down
[–] TeranNotTerran 0 points 8 points 8 points (+8|-0) ago
Ahmen, minus the crypto bit. You don't understand it.
People use the dollar because it is convenient. People will use cryptocurrency when it is more convenient than the dollar. When decentralized banking is the easier route, the masses will take it and it will be the end of the central banks.
I love gold/silver and take it in person but it doesn't scale well to the internet or even a lot of in-person transactions. It's fun to hold and has some intrinsic value, but it's way less liquid and not as easy to transfer as cryptos.
I view central banking as the greatest evil. Second to it is public education.
[–] jizzswizzler 4 points -3 points 1 point (+1|-4) ago (edited ago)
i dont use dollars becaues theyre convenient.
i use dollars because a dollar is worth a dollar and i got that dollar by doing 'x' hours/minutes/second of work and i can exchange it for.... the stuff i need to buy.
you cunts literally make no sense. how you dont realise youre victims of one of the biggest scams ever is beyond me.
Im sorry are you fuckwits downvoating me because you dont know what fiat currency is for or because you think a ponzi scheme is a perfectly legal way of making money? Either way, you dumb motherfuckers are gonna be broke as shit soon and those dudes you worship as 'taking the power away from the fed' are laughing their fucking asses off at you for freely giving them their newly appropriated money with no effort other than 'buy muh legitz monopoliez monies!' fuck even the indians are running the scam now, ive got at least 5 different family members getting SMS messages from 'Bitcoin' stating 'you have $1000 in bitcoin they didnt know about, sell them through our company now!!!' - well if i have two braincellls to knock together, and i absolutely have not signed up to anything that would give me bitcoin....
why would i think the thing theyre pushing on me as a scam is anything but a scam? Its like getting a fucking phonecall from india stating your non existant apple mac has a virus, paying the people for cleaning the virus, then declaring the virus on your non existant computer is totally legit.
You epically dumb shits have just handed over money to a 414 scam. Congratulations! Ill take my apologies later. Prefereably a gold COIN donation. (not bitcoin, regular useable currency thanks) oh wait i forgot you havent got any any more because you sold your house for bitcoin and now you cant even get welfare because you werent fired, you quit because you thought a scam would make you rich
[–] TeranNotTerran 0 points 1 point 1 point (+1|-0) ago
Your username is the most accurate thing I've ever seen you write.
[–] EyeOfHorus 0 points 6 points 6 points (+6|-0) ago
The dollar is "convenient" because the government mandates its usage. It is a monopoly.
[–] EyeOfHorus 0 points 4 points 4 points (+4|-0) ago
I agree with your root cause analysis. One step further, taxation is the ultimate evil regardless of its denomination. I'd go so far as saying tax is a tithe to Luciferians.
[–] Cantilever [S] 2 points -1 points 1 point (+1|-2) ago
When decentralized banking is the easier route, the masses will take it and it will be the end of the central banks.
Except the Fed will classify it as an asset and tax it accordingly
Don't tell me what I do and don't understand, Motherfucker. I know exactly what the fuck I'm talking about
All it'll take is the stroke of a pen to stop crypto. Think you have your encryption and anonymity to save you? How you gonna pay rent or buy groceries and pay utility bills anonymously? The NSA sees everything and so does the IRS. They're allowed to share data now thanks to obama
There is no case for decentralized crypto to flourish. You think the Fed is just gonna take that shit lying down? LOL!
[–] TeranNotTerran ago
Ever seen Hitchhiker's Guide to the Galaxy? That's what most of the people in the federal government are like. They sloth-like and stupid. Effective at times, but usually not.
We will win this war. The NSA doesn't see everything, nor does the IRS.
[–] talmoridor-x 1 point 0 points 1 point (+1|-1) ago
Don't tell me what I do and don't understand, Motherfucker. I know exactly what the fuck I'm talking about
Show, don't tell, faggot
[–] KoKansei 0 points 10 points 10 points (+10|-0) ago (edited ago)
Cryptos are a fucking scam to sucker people out of their money who think it'll replace fiat. It has no intrinsic value
As opposed to the dollars in your wallet? As opposed to a shiny metal? Get real!
People have been saying bitcoin is a scam since 2010 and they have been consistently wrong. Ask yourself: do you understand how bitcoin works? How it is designed? Have you read the whitepaper and come to your own informed conclusions?
If the answer to those questions is no, then you are deluding yourself. Cryptocurrency is the greatest threat to central banking that has ever existed and you're here denigrating it because "muh tangible precious metals." The Federal Reserve loves people like you who don't even recognize the Ring of Power when you hold it in your own hands.
Sorry for the harsh tone but it pains me to see so many people who are aware of the current central banking scam turn away from such a powerful weapon because they refuse to consider anything other than precious metals as a viable hard currency. For what it is worth I agree completely with you that central banking is the greatest evil of our time and pretty much all of the dystopic bullshit that we see today (the subversion of higher education, usurpation of wealth by the unproductive, government-directed wars, etc.) would be curbed almost completely by the death of central banking.
[–] mama_shoe_maunda 2 points -2 points 0 points (+0|-2) ago
i feel like the bankers have fully caught on to how much of a threat crypto$ really is and they r now actively pushing to pop the bubble. And i have no doubt they will succeed...
[–] Cantilever [S] 3 points 0 points 3 points (+3|-3) ago
Except the Fed will classify it as an asset and tax it accordingly
I know exactly what the fuck I'm talking about when it comes to cryptos
All it'll take is the stroke of a pen to stop crypto. Think you have your encryption and anonymity to save you? How you gonna pay rent or buy groceries and pay utility bills anonymously? The NSA sees everything and so does the IRS. They're allowed to share data now thanks to obama
There is no case for decentralized crypto to flourish. You think the Fed is just gonna take that shit lying down? LOL!
[–] KoKansei 0 points 6 points 6 points (+6|-0) ago
You are just plain wrong and clearly haven't done your homework or are tech illiterate.
All it'll take is the stroke of a pen to stop crypto.
Russian and China tried to regulate / legislate away bitcoin and failed. The only way "they will just ban crypto" makes any sense is if you believe the government is omnipotent, which it clearly is not. Even the highly repressive socialist regime in Venezuela cannot contain it.
The NSA sees everything and so does the IRS.
If you actually believe this I don't know what to tell you. There are many well-documented ways to remain anonymous with bitcoin and many other coins include enhanced privacy features that make it easier for non-technical people to retain their privacy.
There is no case for decentralized crypto to flourish. You think the Fed is just gonna take that shit lying down?
Then why has the market exploded from 20 billion to 500 billion in a year? Why are people in China and Venezuela using it to get around capital controls? Why are people in the US and Europe using it to buy and sell things that the state does not approve of?
I was trying to give you the benefit of the doubt since you are at least wise to the central bank scam, but for christ sake man do your homework before making yourself look like an idiot on here.
[–] GassyMcGasface 0 points 1 point 1 point (+1|-0) ago
Check my posts. Even my alts have always suggested we gas all the Rothschilds, every last one.
[–] Baconmon 5 points 19 points 24 points (+24|-5) ago (edited ago)
Luckily for the world, you are wrong.. Crypto will replace fiat currency.. Have you actually done any critical thinking about all of this?.. Saying that cryptos are a fad that will go away is like saying that the internet will diminish and go away..
Crypto is here to stay.. It is a natural step in our technological advancement, and if satoshi didn't create bitcoin, some one else would have eventually created some thing similar, just like if the guy who invented the telephone was never born, some one else would have created some thing similar eventually, because that is just how technology advances..
If you compare fiat to crypto, fiat loses on almost every aspect, rendering it obsolete in a technical sense.. But fiat has a huge foothold so it will remain with us for a bit longer, but it has already started on its way out..
Down-vote me if you like, but you had best come back and up-vote me again several years from now when cryptocurrencies are literally every where and every store in the world is accepting them..
As far as gold/silver being "sound" currency, what makes it sound? It is a hunk of metal that people give value to.. Yeah I know it glitters in the sun and is very pretty.. But if people give value to some thing else like cryptocurrencies, then it has value.. If you know bob johnson down the street will give you a new car in exchange for some bitcoins, suddenly you are trying to get ahold of some bitcoins..
[–] RiverWind 1 point 0 points 1 point (+1|-1) ago
You are correct in stating that OP is wrong regarding the belief that "sound money" ie gold or silver, will "save us from debt slavery".
Firstly, so much of the gold has already fallen into the hands of a small group of private hands that it is not viable as a guarantee.
More importantly though, OP raises the issue of money and debt. This is a huge problem which underlies most of the world's woes and which few understand. I can try a quick explanation for people, that hopefully will shed light.
Instead, the government could remove the power to create money from the Fed, and create it itself. This money would not be created as debt! It could be spent by the government into the economy as and where it is needed, on infrastructure projects, for example.
Find out more:
[–] Canada_is_gay 1 point -1 points 0 points (+0|-1) ago
Right now all the shadow entities mining bitcoin are pushing it to be a thing because they can effectively create free money as long the market value is greater than server costs to mine. What happens when that taps out? Who is going to be there to prop up the market every time some hacker disappears with millions? Are the big players currently pushing it going to have any interest when they can't make free money anymore?
[–] jizzswizzler 2 points 0 points 2 points (+2|-2) ago (edited ago)
critical thinking would say it will be exposed as the scam it is before the scammers bail out.
its well past that. That brief drop in the share price of bitcoin?
That was the ponzi scheme organisers getting the fuck out before the bubble burst.
It still has no intrinsic value.
And your ass is still broke. Youre getting nothing back. Thats why it was already made extremely difficult to cash out your investment. Because it was already gone the second you sent them your money.
Im also impressed how much you dumb motherfuckers out yourselves as having literally no clue about even the most basic of economics.
At least now i know that if someone starts telling me all about bitcoin i already know theyre a complete and utter fucktard that probably didnt graduate highschool (neither did i but at least i know the value of a dollar and how that dollar came to be worth a dollar)
[–] prairie 0 points 1 point 1 point (+1|-0) ago
It's the state, that is the initiation of force. Without violence, banks wouldn't have any power over people.
[–] Cantilever [S] 1 point 0 points 1 point (+1|-1) ago
The state gets its power from the bank
Banks hold power over governments
[–] Nalbarcam 0 points 2 points 2 points (+2|-0) ago
and there are no banks in crypto