[–] Alex_Jones 0 points 2 points 2 points (+2|-0) ago
The "expert" says the US government issues it's own currency. But, the federal reserve, is not a government agency. They don't answer to government, as seen with 2008.
Then the idiot says USD is more valuable than gold. Because "try paying your taxes with gold"? What type of reasoning is this?
The more I vist main subs to Reddit, the more it seems like going to visit a mentally ill or addicted friend. Every visit is worse than the last.
[–] Broc_Lia 0 points 2 points 2 points (+2|-0) ago
Yeah, he's running off typical lefty keynesian talking points. National debt isn't like a household budget, governments can't ever really go bankrupt. No one knows what causes hyperinflation, it's probably just a coincidence that it's linked to massive borrowing and "quantative easing."
[–] R34p_Th3_Wh0r1w1nd 0 points 7 points 7 points (+7|-0) ago
A year or so ago reddit's botnet was 15000 strong. I have a screenshot somewhere of an admin caught testing it. 15000 upvotes in less then a minute.
[–] TerrifiedTyphlosion 0 points 2 points 2 points (+2|-0) ago
I'd like to see that screenshot. Need more damning evidence to get my friends away from that website.
[–] BenKekJr 0 points 10 points 10 points (+10|-0) ago
Fiat currency schemes are ultimately Pyramid schemes as someone noted half-way down. Except with an interesting twist... The moment the population stops growing (or slows) the monetary policy begins to falter. It is a growing tax base in combination with the exporting of debt from the US in the form of a reserve currency that allows the scheme to work.
[–] piratse ago
To be fair, most of Voat is also financially and economically ignorant. 90% of people I see comment here throw the tired line of "We owe China HURRRRRR amount of money!!! Dey gonna own us!!!" While ignoring that China owes us more than we owe them. I think average people don't understand the scope of economics and just latch on to single or few parts and extrapolate them out over the whole model. Just a little quick note for you goats outside China owing us over $1 trillion: "China depends on the US in a way the US does not depend on China. Nearly 4% of China’s GDP comes directly from exports to the US, while the equivalent figure for the US is less than 1%. There are several other countries that could provide the US with the manufactured goods it gets from China, but China would have real trouble finding an alternative to the US as an export market.