/biz/ - Business & Finance

>>52524883
But one of them has roving gangs of niggers paid with those notes who will attack you for not using them as protection money.

It's true 'value' is completely abstract and subjective but the willingness of states to use unilateral violence is concrete and objective.

>>52524929
>roving gangs of niggers
Most apt description of the US Military

>>52524883
All value is subjective. Money is a social construct. And what gives it power is belief.

>>52524883
One of my economics professors said the only reason our Federal Reserve notes have any value is because the federal government (which the Fed isn't a part of) accepts them for tax payments.

>>52525070
>economics professors

>>52525070
That's not the real reason. Every other government accepts the currency they print out of thin air as tax payment

>>52525070
>the federal government (which the Fed isn't a part of)
Did your economics professor tell you that one too?

>>52524883
One is legal tender in your country, other is not. There is no special property in dollars themselves. The value comes from legislature and guarantees given by government and Fed (which they fail to deliver on, and this results in loss of trust and currency crysis).

>>52524883
>I’m 19 years old and just learned what fractional reserve banking is

>>52525107
That doesn’t make them federal you illiterate nigger

>>52525097
So they're all worthless.
>>52525107
Dr. Frankenstein created a monster. Does the monster belong to Frankenstein?

>>52525141
>>52525149
Maybe you should read the law you didn't know existed until just now? Let's see some highlights...
>All component banks of the fed were directly established by both houses of congress and the president
>The board members of these banks are directly selected by the president, and confirmed by the senate
>Congress directly requires private banks to become members of the federal reserve system
>The profits the fed makes are returned to... the federal Treasury of the United States of America.
>Well maybe the treasury is independent? It was actually called the "Independent Treasury" from 1846 to 1913... when the fed replaced it
>All profit/operations reports are given directly to... congress, which reviews them
>The fed even has it's own federal law enforcement agency, established and authorized by congress and the president
Are you ready to admit the federal government of the united states might have misbehaved and be accountable here? Or are you even allowed to say that?

>>52524883

oh don't even get me started on the coloured pieces of paper that is fiat

fuckin worthless monopoly money all of it

which currency do you think will go the path of venezuela next?

>>52525409
>sells you your own money in your path

>>52525647
>Sells you 'your own money'
>Then returns all the money made by selling to... the government
Your beliefs are not even coherent. There is no way to have a negative opinion on the fed and excuse the federal government of the united states.

>>52524883
Left is back by the US military.

>>52524883
No, the difference is that your wages are paid in dollars, the goods you buy are paid in dollars, oil is traded in dollars etc.
And that's not because you believe in the dollar but because the government dictates it.

>>52524883
well, the left does technically cost more to produce

>>52526432
Oh, ok sorry if for the $1 bill the seignorage is $0.92 instead of $0.99.

>>52524883
the difference is the govt requires you pay taxes and only accepts their greenback token
also the petrodollar, protected by the military
fiat is backed by violence

>>52525457
>tfw jp 10yr four days no bid
>tfw jp govt owns two thirds of all jp 10yr notes
>tfw yield curve control
>tfw currency printer go brrrrrrrrr
I'm thinking Japan might be next, unless China secretly shits the bed without telling anyone.

>>52524965
Value is subjective but money is not a social construct. Fiat is currently the best tool to exchange time for goods and services. Our civilization has never experienced the monetization of an asset. Fiat was simply forced/given to us by the government. Btc is currently undergoing monetization but it could take decades.

>>52524883
the only difference between these two notes is EVERYONES belief that one has more value than the other

>>52525409
>the rothschilds return their profits to the US treasury
Sure they do

>>52524883
oh we can alright, but you zoomers aren't worth the time or effort. we know you don't understand: that's how crypto "currency" caught on.

>>52524965
Great merchant