7
kiki
3y

Imagine buying a 16 tflops GPU from some manufacturer, yet the computing power is somehow shared, and when they need to produce some more GPUs, they just take some part of your 16 tflops, as well as from all the other people who bought these GPUs, so suddenly you have 15.6 tflops, yet money is never sent back to you, and you have no control over such decisions.

Oh, you tell me it's "robbery"? Yet federal reserve does the exact same thing by creating money out of thin air, basically taking their cuts off of every person's monetary value.

For your very real work, companies pay you with something that can be created out of thin air, and then that something loses its value when new tokens are created.

This is slavery. From now on, I'm going to call dollars "slave tickets".

Comments
  • 2
    And the main purpose of printing money isn't even to make money for the government (unless Reagan); it's to make people want to get rid of them, or in nicer words to incentivise spending. Essentially, contemporary markets run on a large scale game of hot potato.
  • 0
    @homo-lorens And the potato gonna explode soon. Very soon.
  • 2
    @Demolishun I hope so too. At this point the system can only cause immense amounts of suffering and our best bet is that it collapses fast. Not that chaos wouldn't cause suffering, but chaos carries a potential of improvement.
  • 0
    We didn't use to have this system. In the past many countries had the gold standard. Every bill was a worth a certain amount of gold. Coins were made up of the gold they were worth.

    But there's a real problem there. What if the economy wants to grow, but the gold supply doesn't increase? It can't.
    An economy can only be as big as the gold stock that is kept.

    So countries abolished the gold standard to allow the economy to grow. Now money can be printed to keep up with the economy.
  • 1
    @Geoxion No, they abolished the gold standard in order to print money without accountability and cause inflation. The inflation is destroying peoples retirement. This is theft. It is a conspiracy of international bankers to own everything so they can treat you as a slave. This is not, and never has been a good thing.
  • 1
    @Geoxion The value of money is decreasing year by year, thanks to deliberate excessive printing and the complete lack of any tangible standard. It's clearly not about growth.
  • 0
    @homo-lorens how much inflation or deflation would be good is something I don't know. I just told that a system where you can't create new money has definite problems.

    Now, a lot of money is printed in the EU. But so far that hasn't led to much inflation. So it doesn't inconvenience me. But that money is being spent somewhere else, which is good for me because more trade is more jobs.

    Inflation makes people want to move money. Deflation makes people want to hoard money. Moving money is better than still money, so a little bit inflation is probably better than a little bit of deflation.
  • 1
    @Geoxion The Euro has an average annual inflation rate of 1-1.5%. If you're living in the Euro area, keep your savings in Euros and work for 40 years, that's an alarming portion of your life savings transferred to national banks all over the continent.
    Naturally, you would open a savings account which hopefully has an interest rate somewhat over 1.5% so you don't lose money, but the fact that you can't save for pension without either relying on a particular single bank or cutting a really bad deal with every national bank in Europe collectively is definitely problematic.
  • 0
  • 0
    @homo-lorens what you're saying is that you're being punished for hoarding money. And that's correct! That's even the goal.

    So what can you do to combat that? You gotta move it (or store it somewhere where it will be moved). Now, the interest in saving accounts is very very low which is one of the aftershocks of the bank and euro crisis. Normally it's a good option because you allow the bank to keep the money moving for which you get part of the reward.

    What other options are there? You can buy things like a house or invest in a company. These are all things that help the economy.

    Money that moves = good.
    Inflation is an incentive to keep money moving.

    Is the 'just below 2%' inflation the EU aims for a good number? Idk... Haven't looked at that myself. But seeing as the US has a similar aim, it probably isn't too bad.
  • 0
    Do you know who had one of the earliest fiat money systems? Genghis Khan. He used force to make people use his worthless money system. Guess who else uses force? Banks. Follow the money.
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