/biz/ - Business & Finance

so jews can rob all humans born in the usa and pretend its lawful

jews needed to start a war and that doesnt work without central banking

https://youtu.be/bm6oeRgxs0A?t=44

>>56310011
To manipulate the economy to keep it stable

>>56310011
Because America is a business, not a nation.

>>56310011
because you can't name a better system.

to tax the poor and steal money

Non meme answer is so that you can set a lower bound for growth. All interest rates do is say “ok last year you needed to generate above 0% growth to make money, this year you need to generate above 3% to make any money”

>>56310284
Technological advances and population growth cause deflation though.

The non meme answer is that it’s the best attempt we have at achieving price stability.

>>56310390
didn't the dollar lose 99% of its purchasing power since the fed was created?

>>56310406
yes but in a predictable and stable manner

>>56310406
You forget to factor in interest.

>>56310413
so they destroyed price stability in a predictable and stable manner?

>>56310011
OY VEY. MODSSSSSSSSSSSSSSSSSSSS DELETE NOWWWWWWWWWWWW

>>56310413
>>56310419
We are curious to here your alternative solution to achieve price stability

>>56310011
Because the economy is a nuclear reactor, and the fed is the control rod that keeps it humming along in a state of equilibrium.

>>56310011
someone needs to federally reserve?

>>56310436
Futures provide better price stability than central banks.

>>56310436
hanging price gougers by the neck

>>56310011
we don't
it's not federal and there is no reserve

>>56310592
We really should bring lynching back.

>>56310436
No interest on credit, no credit on no collateral, and death to kikes. That simple.

>>56310584
We have futures though. Also, where does the money come from?
>>56310592
What if someone just likes a certain product like really much?

>>56310620
How do you want to prevent two consenting parties from making a credit transaction with interest? Not everybody want sharia law.

>>56310631
>We have futures though
Right, so we don't need a central bank.
>where does the money come from?
We have block chains now so we don't need them for clearing either anymore.

>>56310657
Credit is fine, the fraudulent shell game with government bonds is not.

Because we need one dum dum.
If we didn't have a federal reserve inflationary and deflationary bubbles would destroy capitalism.

>>56310708
You mean like they are now?

>>56310717
No like way worse.

>>56310725
We have an entire generation of people who are practically debt slaves and can't afford homes in their country. That's just about maximally worse.

>>56310725
Unless by "destroy capitalism" you just mean "destroy Wells Fargo" then yeah, you're right.

>>56310729
Yeah because they need the latest iPhone and living with the parents for a couple of years is less cool than paying thousands of dollars in rent. Plus they want the collage experience.

>>56310759
Living with your parents for a few years won't magically let you afford $3k/month mortgage payments.
KYS faggot.

Because "we need an economy that works for all". An unregulated economy means a very few win while the vast majority suffers. We are a communist nation.

>>56310011
During WWI the governments around the world needed to print an ass load of money so they invented the central bank to be the one that "lent" them the money out of nothing. Then it was retroactively justified as a mechanism for implemented various centrally planned economic policies during the transition from liberalism to modern socialist / marxist / keynesian economic politics.

>>56310011
>> your not allowed to control the money supply because... because... BECAUSE YOUR JUST NOT OKAY

That's how they pay for the missiles they launch to Gaza

>>56310781
>nooo I cannot afford a the mortgage payment for a newly built mansion near the city. The system is rigged.

>>56310284
So they’re forcing everyone to get 3% better at what they do every year, or have their revenue stealth taxed by inflation? That’s delusional. They just want to steal.

>>56311055
Revenue has inflation baked in. The fed does something increase inflation, then your business probably already made more money because of that. The fed causing inflation actually more more businesses viable. That's not always a good thing. But in the "great depression" type scenario you had a bunch of unused capital after all the bank failures, which the owners not able to use it, and the people who could use it had no money. In that case the modern economist solution is have the government stimulate in some way to encourage people to buy and use that capital. That causes inflation, which makes the owners of the capital more willing to sell, and makes it easier for people to acquire the capital and use it.

Now on the other hand, in normal conditions, this is bad because it makes a lot of less productive stuff all of a sudden profitable. Like sitting on capital and debt maxing to make money of the appreciation, while not actually using it to produce something. There is some balance here, some optimal rate, that the government could theoretically have to result in optimal growth, but they almost always get it wrong and fuck things up. Like in the great depression, if you go back the decade before, the fed caused the bubble and depression in the first place with excessive stimulus during the late 90s bubble. Then during the depression they weirdly gave up, and just kept conditions tight which is blamed for extending the depression they caused.

>>56310729
Yeah this is no where near as bad as it would be with out a federal reserve. Your libertarian utopia would more closely resemble feudalism.

>>56310708
>>56311323
The industrial revolution, the period of time with the greatest increase in quality of life in history, occurred during a hard money, gold standard, with no central bank.

>>56310011
gunzzzzzzz

>>56311365
The industrial revolution happened because of the decline of fuedal society, mercantile capitalism and the development of technology, aka, innovation. You guys are coping so hard if you pin all of the industrial revolution on the golad standard, lmao.

>>56310084

Given this, how do we protect our wealth currently? I'm currently debt free, have a paid off flat, with some metals and a bit in crypto.

>>56310011
to steal money from the largest economy in the world without direct taxation

>>56311470
I bring up the gold standard because we are talking about central banks. You said without central banks, we'd be in feudalism. But now you changed your mind I guess.

>>56310011
To keep getting molested like no civilization ever before

>>56310051
^This basically. It is especially a "fuck you" to the White working class.

>>56310364
Yes if the availability of new money is tighter than the demand for money prices go down. We don’t disagree

>>56311055
Sort of what this dude said
>>56311243

With the caveat that they’re not forcing you to get 3% better, they’re simply saying “just by being a business you should make 3% growth this year due to inflation, growth, ect.

>>56311890
sure

>>56311365
The gold standard is pretty retarded and the only thing productive it does is constrain central banks, which, at the end of the day is just another policy. The gold part only fucks around with the rest of the economy.

>>56310597
This. It’s a private corporation with a money printer and they will fold in our lifetime.

>>56310011
Hey man you really need to chill out with the antisemitism

>>56312955
gold standard is the basis of a sound currency if you don't understand that you are a complete retard

>>56312955
>the only thing productive it does is constrain central banks
Exactly, since central bank action usually does more harm then good, that is a good thing.

That is like saying the bill of rights is "retarded" because the only thing it does is restrict the government from doing things.

>>56313353
you know what screw you i ain't got time for this bullshit you want to come across to me with your snarky ass comments well guess what i don't even know what the hell you're talking about

>>56313495
inflation is a wealth tax that is an unconstitutional direct tax. a gold standard just forces the government to obey the constitution.

>>56313495
listen up numb-nuts what are you even babbling about i'm not about to waste my precious time trying to decipher your inane ramblings so why don't you do us all a favor and shut the hell up

>>56313682
oh yeah

who asked you

you listen up numb-nuts how about you take your pathetic life and shove it up your ass

i bet you think you're so smart trying to decipher my "inane ramblings" you stupid little prick why don't you just shut your god damn mouth and crawl back into whatever slime pit you came from you pathetic moron

>>56310597
>>56313171
>a private corporation where the chairman is appointed by the federal president
How does that work?

>>56310011
to answer that question you must first understand it is neither federal nor a reserve

>>56310011

To standardize notes.

>>56310657
>How do you want to prevent two consenting parties from making a credit transaction with interest? Not everybody want sharia law.

Agreed. The question for those people is:
>how is the creditor legally allowed to collect in an ethical manner?
The XIIIth outlawed debt slavery.

>>56310759
>Yeah because they need the latest iPhone and living with the parents for a couple of years is less cool than paying thousands of dollars in rent. Plus they want the collage experience.

Hi Mr. Ramsey!

>>56311055
>So they’re forcing everyone to get 3% better at what they do every year, or have their revenue stealth taxed by inflation? That’s delusional. They just want to steal.

This is why libertarians hate inflation and income taxes. The poorest trying to save are the ones that get hurt by inflation and labor taxes.

Poors wouldn't know what a capital gain even is.

>>56311323
>Your libertarian utopia would more closely resemble feudalism.

Highly debatable. The libertarian system doesn't tax labor, doesn't garnish labor. Therefore the whole earning and spending process would look different

>>56313353
>since central bank action usually does more harm then good
Sure.
> that is a good thing.
It's a completely irrelevant thing. You could constrain the lending of the central bank as a matter of policy without the gold and they'd be just as likely to ignore it and then do away with it when it blows up.
>>56313320
It actually used to be a bimetallic standard and IMO that's more sound than just gold if you think pegging it to metals makes it sound. The reality though is that metals themselves have volatile markets do to mining and hoarding so even that doesn't really work and again, it's just policy that they'll cancel when they feel like it.

>>56312955
>constrain central banks

Sort of; A somewhat wealthy guy I talked to told me "if there's ever a problem with the fed notes me and my rich buddies will write IOU notes for cash."

My issue was
A) IOU what?
and
B) Those won't circulate unless you print more than whatever it is you "owe" someone, at which point you've just created a fractional reserve bank.

Then what I discovered was the problem is the "central" part, not the "fractional reserve" part.

>>56313893
the president picks the guy who runs the federal reserve but hes like the leader of all the bankers right so hes running all the banks and stuff but theyre all private businesses but hes the guy in charge you get me

>>56313995
Yup.
It's not about the demand note thing or fractional reserve banking, it's that they can't go bankrupt and can lend to the government without limit.

>>56313320
>gold standard is the basis of a sound currency if you don't understand that you are a complete retard

>Build house on rock, not on sand

The problem is very few people understand what fractional reserve banking even is.

>>56313983
>You could constrain the lending of the central bank as a matter of policy
No you can't, because you have to trust the government. With a gold standard you can cash out when you want. Or at least someone can and there is arbitrage. There is a "call BS" option. With no gold standard, just "a policy," you have a system like bretton woods which had no constraint on money printing because the gov just found created loops holes.

>>56314005
>the president picks the guy who runs the federal reserve but hes like the leader of all the bankers

We need fed chair diversity. A black female LGBTQ should do nicely.

>>56314019
This cash out option is continuously available regardless. It's not like the current dollar isn't constrained; it's constrained by the revenue available to the US government via taxes.
Again this is all policy and the bank or the legislature (depending on which policy) can just decide to throw it out before you have a chance to "cash out" which they already did with the various metal backed schemes and they're about to do again with the current scheme.
All gold does is add an extra layer of complexity.

>>56314041
Jpow is actually pretty diverse considering it's been mostly jews.

>>56314006
>it's that they can't go bankrupt and can lend to the government without limit.

Yup. Third would be they changed "legal tender" from
>what is needed to pay fines and tickets and taxes
To
>only money allowed, no competition allowed

>>56314044
> It's not like the current dollar isn't constrained; it's constrained by the revenue available to the US government via taxes.
100% false. The fed can buy an in infinite amount of debt to enable infinite money printing.

>the legislature (depending on which policy) can just decide to throw it out before you have a chance to "cash out"
Sure, but its discovered immediately when the currency breaks peg. Its FTX when the withdraws were suspended. Inflation is stealth dilution that isn't noticed right away but a slow wealth tax over time and physiological manipulation of prices.

Another advantage of gold is you peg to what is the biggest hard money currency in the world and is a lot more stable than what one country's fixed-supply currency would be.

>>56310011
primarily to enrich those of jewish ancestry

>>56314067
I mean "psychological manipulation," as in inflation is used to suppress wages and prices and force the working class to work more then they would otherwise.

>>56314047

Astute observation fellow white

>>56314044
>This cash out option is continuously available regardless

Wrong. There is no convertability, only purchase with tax.

>>56314067
Meh, I prefer the way Bitcoin works where the money supply is just constrained directly without playing around with pegs.
Either one is a policy. Keeping the restrictive policy is more important than the policy itself.

>>56314095
Well bitcoin you don't need to peg, because its managed by trustless code. The only reason to peg to gold is because gold is trustless. The problem with gold is its hard to store and transmit which why you need currency. Bitcoin solves both of those problems so you can use bitcoin as both the limit on supply and currency.

>>56314076
>and force the working class to work more then they would otherwise.

It drives rents up, how much you have to "work" depends on your employer of course

>>56314067
>The fed can buy an in infinite amount of debt to enable infinite money printing.
I suppose there's nothing directly stopping this but borrowing beyond what the government can cover with revenue from the IRS is effectively a de facto default.
IE they're just pushing policy out of the way like they would otherwise. It's weaker than having official policies constraining borrowing but we've had that in the not too distant past as well.

>>56314103
It's hard to store, it's hard to transfer, *and it has it's own market with non-zero volatility.*
It's overrated except as a hedge IMO. People have noticed the obvious serious problems with having a central bank but pegging the currency to metal has other issues and doesn't solve the fundamental problem; it's just a distraction.

>>56314095
>Meh, I prefer the way Bitcoin works where the money supply is just constrained directly without playing around with pegs

This is what many people in developed countries like about BTC. The issue is
A) The keys can be "dropped" which destroys the coins, unlike gold
And
B) There still would need to be more notes than there is BTC
Which returns to fractional reserves

>>56314108
Its pure money printing. Its gov loaning itself money when they then print and spend. And the problem is disconnects cost from any government spending. So there is no true cost benefit analysis to any gov spending. To spend money, the gov doesn't have to sell bonds to the public or raise taxes, they can just do it, so anything they think provides value they do even if the ultimate cost is far more than the good. Usually this ends up being various gibs and entitlements to their supporters or donors.

>>56314105
it can drive rents up because it encourages assets hoarding to avoid inflation. But it suppresses wages because you have to constantly fight for raises just to maintain the same wages and many people don't and just end up working at artificially low wages over time.

>>56314130
>A) The keys can be "dropped" which destroys the coins, unlike gold
I'm not sure exactly what you mean by this. If you destroy the keys you destroy the coins they hold but you can do similar things with gold If you misplace it or vaporize it.
>B) There still would need to be more notes than there is BTC Which returns to fractional reserves
The fractional part isn't the issue, it's the lack of constraint. Also there's nothing keeping you from trading in arbitrarily small increments of BTC. Settlement has to be done in satoshis with the current protocol but that's something that could be changed.

In América, Central Banks were created to be "lenders of last resort" after the 1907 banking run. Since this were pretty common, the central bank was created.

Eventually, after the deflationary spiral the US suffered in the 30s, the central bank incorporated an inflationary policy (to avoid deflation). And thus, central banks became a thing.

>>56314142
I think we're already starting to see it but as the situation progresses you'll see people effectively hoarding their labor the way they do assets.

>>56314076
it's called supply and demand dumbass go read a book

>>56310011
>Why do we have a federal reserve?

>>56311562
Knowledge and skills are wealth. If you have those two you will never be poor.

>>56314170
We need another Andrew Jackson. This isn't the first central bank we've had and we got rid of the earlier ones on purpose.

>>56311365
The gold standard without central bank was deemed ineffective after several bank runs tho.

>>56314103
>Bitcoin solves both of those problems so you can use bitcoin as both the limit on supply and currency.

True. That's why it's like cash and it's like gold.

Again, the problems with BTC are pretty new, and it has to do with protecting long alphanumeric strings (private keys) and keeping the hashrate of miners geographically distributed

>>56314193
That would be just retarded. Without a central bank, private banks would just print bank notes, with the wonders of fractional reserve banking. Even if you somehow abolished fractional reserve banking, private companies could just issue debt themselves.

You will always run into desequilibrium.

>>56314118
>doesn't solve the fundamental problem; it's just a distraction.

People understand IOU convertible notes. 1% of the U.S. public understands fed notes.

>>56314221
>private banks would just print bank notes
We've solved that issue with crypto currency.
It's an interesting academic problem to try to find solutions without it but it doesn't practically matter anymore.

>>56314142
>it can drive rents up because it encourages assets hoarding to avoid inflation. But it suppresses wages because you have to constantly fight for raises just to maintain the same wages and many people don't and just end up working at artificially low wages over time.

Yes. True. I find the "standard of living" costing more to be much more relevant than the suppression of wages.

>>56314225
Quite frankly I don't care that a significant portion of US persons or whatever are retarded because reality doesn't care either.

>>56314241
I'd argue wage suppression is really a separate issue from fiscal policy that comes from cultural and political problems the US is experiencing.

>>56314151
>you can do similar things with gold If you misplace it or vaporize it.

If you lose your gold someone can find it. Not true with BTC.

>The fractional part isn't the issue, it's the lack of constraint. Also there's nothing keeping you from trading in arbitrarily small increments of BTC. Settlement has to be done in satoshis with the current protocol but that's something that could be changed.

Yes the divisibility of BTC is impressive. People still like holding notes in their hands

>>56314103
Bitcoin, sadly, doesnt solve the fundamental problems. Money, as with any other object, follows supply and demand. If the demand of money suddenly increases in your society (because say, some technological boom increases the sort of companies that can exist and what people can consume), but the supply remains stable the purchasing power of money goes up.

The problem, naturally, is that companies cant adjust their prices quickly enough or at the same time. Companies would need to lower their prices but also lower how much they pay their employees (since they are getting less bitcoin per product, they have less money), which tends to not happen instantenously due to contracts(few people would choose to work in a place where their wages can change monthly or even daily). Other factors thay may stiffle this is that companies will try to keep the prices high as long as possible. A further problem is that if you own money in bitcoin as a debt, and bitcoin rises in price so does your debt yet you are not winning more bitcoin.

This will lead to unemployment either to keep more bitcoin to pay your debt or because your company isnt making enough bitcoin to keep everyone employed. Unemployment leads to less consumption, which leads to more purchasing power to bitcoin, and so on.

>>56314185
>If you have those two you will never be poor.

>no such thing as a skilled slave

Idiot

>>56314236
Not really. Central exchanges still "print" debt in cryptos. As long as people dont try to cash out at the same time, exchanges can work with little reserves and people can use this "i own u" crypto notes inside the exchange to purchase other stuff or sell it. Then, like with FTX or celcius, you get bank runs and everyone loses a ton of money.

>>56314253
>The problem, naturally, is that companies cant adjust their prices quickly enough or at the same time. Companies would need to lower their prices but also lower how much they pay their employees (since they are getting less bitcoin per product, they have less money), which tends to not happen instantenously due to contracts(few people would choose to work in a place where their wages can change monthly or even daily). Other factors thay may stiffle this is that companies will try to keep the prices high as long as possible. A further problem is that if you own money in bitcoin as a debt, and bitcoin rises in price so does your debt yet you are not winning more bitcoin.
Yup.
Central banking has not solved this.
>>56314251
>If you lose your gold someone can find it. Not true with BTC.
If you vaporize it or drop it in the ocean or lose it in a similar way they have as much a chance of finding it as they do brute forcing your crypto keys.
Yes, when you're dealing with large amounts of valuable things you have to take care, that's not unique to crypto.
> People still like holding notes in their hands
I have an Apple2 set up in the other room and love holding the 5 inch floppies in my hands. There's something mnemonic and pleasant about physically manipulating and storing software. That's not enough to justify using them for anything important though.
And of course you can always print your keys out if you really want to handle them.

>>56314266
Heh yeah.
Private companies can "print" bonds and shares now though and that hasn't flattened the world because people know that it's volatile and relatively untrustworthy.

Seems like it's so the government doesn't have to take responsibility for the economy.

>>56314280
> Central banking has not solved this

It does. It allows for banks to increase the amount of money when the demand for money is higher, while preventing banks to fall into bank runs while increasing the amount of debt around.

>>56314283
People also knew in the past that banks had a history of bank runs, yet they still put their money in them. Companies dont engage much into debt forming with common people because we have banks that can grant them loans for this. They do it among themselves tho, and it usually ends in stuff like the 2008 recession.

Its like arguing people wont fall into ponzis after a 100 year track record of them cuz they are untrustworthy. You are assuming people are not retarded which is completely false.

>>56314253
>Money, as with any other object, follows supply and demand. If the demand of money suddenly increases in your society (because say, some technological boom increases the sort of companies that can exist and what people can consume), but the supply remains stable the purchasing power of money goes up.

You are confused. Simply taking money out of circulation doesn't drive up it's purchasing power, however giving everyone a million would destroy its purchasing power.

People would just switch to different money, there is a trust component you aren't factoring in which makes your post nonsensical.

>>56314304
>it allows for banks to increase the amount of money when the demand for money is higher, while preventing banks to fall into bank runs while increasing the amount of debt around.
In theory but it never seems to work out that way in practice. IE central banks have not solved the problem.
>Companies dont engage much into debt forming with common people because we have banks that can grant them loans for this.
They absolutely do. That's what the bond market is. It's not restricted to banks.

>
Its like arguing people wont fall into ponzis after a 100 year track record of them cuz they are untrustworthy. You are assuming people are not retarded which is completely false.

If you really wanted to protect retards you'd put them in straight jackets. IMO we could do with fewer retards, let them try to make sense of the world and if they fail that's on them.

>>56314266
>exchanges still "print" debt in cryptos.

Exchanges aren't creating the crypto. People shouldn't leave their crypto on someone else's computer (See FTX)

>>56314308
> You are confused. Simply taking money out of circulation doesn't drive up it's purchasing power, however giving everyone a million would destroy its purchasing power

I never said the demand for money would go up by taking money out of the economy. I expicitly said due to things like tecnological improvements that will lead to more efficient production and more demand for new products. At no point did I mention taking money away.

> People would just switch to different money, there is a trust component you aren't factoring in which makes your post nonsensical

> People would just switch to different money, there is a trust component you aren't factoring in which makes your post nonsensical

Not trust, but contractual obligations and debt. If you own debt in bitcoin and this one goes up in value your lender wont just accept to swap your debt to some other currency. If people are paid in bitcoin and it goes up in value they wont sign a contract that allows you to swap their wages for a less valuable coin.

>>56314250
so they want to pay me as little money as possible huh what a bunch of crooks

they take all the money for themselves while the workers get screwed over the rich get richer and the poor get poorer meanwhile i'm just trying to make a living and put food on the table for my family

>>56314311
> In theory but it never seems to work out that way in practice. IE central banks have not solved the problem.

But it does. Bank runs are more rare than before Central Banks and recessions are less severe than in the past. This is well known economic fact.

>If you really wanted to protect retards you'd put them in straight jackets. IMO we could do with fewer retards, let them try to make sense of the world and if they fail that's on them.

Letting retards, who compose a big part of the economy to fall would drag everyone down with them.

>>56314315
>Exchanges aren't creating the crypto. People shouldn't leave their crypto on someone else's computer (See FTX)

Yet they do, and will keep doing it. Like it or not, exchanges work as banks for crypto, rendering the claim that crypto solve this moot.

>>56314280
>And of course you can always print your keys out if you really want to handle them.

Still the best way to store them.

>>56314304
>preventing banks to fall into bank runs

What is a bank run with debit cards?

>>56314338
>Letting retards, who compose a big part of the economy to fall would drag everyone down with them.
Letting them succeed by forcing everyone to their level also drags everyone down. I think people that stupid probably have limited capacity to contribute to a modern economy and it's not worth worrying about them so much.

>Bank runs are more rare than before Central Banks
This is the result of mandated insurance which is distinct from central banking. FDIC is private IIRC.

>>56314348
The reason you haven't seen bank runs with debit cards is because of mandated insurance that happened before debit cards were popular. Otherwise it would look like a failed crypto exchange as >>56314338 said.

>>56314336
>they take all the money for themselves while the workers get screwed over

Are you referring to fed jews or congress?

>>56314336
They tell you you're being charitable to the poor people from the third world who are just like you and also trying to get ahead.

>>56314338
>Yet they do, and will keep doing it. Like it or not, exchanges work as banks for crypto, rendering the claim that crypto solve this moot.

No they don't, a crypto exchange is just someone running a server system that exchanges one coin for another. Once you make a trade you should move the coins back to your computer.

It really is more simple than people make it sound in this sense. At any time the exchange owner can run off with everyone's crypto, which is when etherium DEXs became a concept.

Decentralized exchanges aren't working perfectly yet, however.

>>56314356
>FDIC is private IIRC.

Federal Deposit is the taxpayer on the hook for deposits up to 250k. How many Americans have 250k in the bank? Why are poor Americans on the hook for this?>>56314365

>>56314381
>No they don't, a crypto exchange is just someone running a server system that exchanges one coin for another.
A bank is just someone with a ledger. We have extra rules for them in the US but that's really all a bank is. He's right, most exchanges do increase the velocity for crypto because leaving them in an exchange wallet rather than your local wallet is effectively the same as holding some kind of demand note from a bank.

>>56314348
>What is a bank run with debit cards?
Same as a regular bank run. People take loans through credit in banks, then many people try to get the money they have in saving accounts and its not there.

You see less of them due to regulations and because banks are backed by lenders of last resort, being either the fed or the fdic. Either way its a state aparatus that can print money on demand.

>>56314356
>Letting them succeed by forcing everyone to their level also drags everyone down. I think people that stupid probably have limited capacity to contribute to a modern economy and it's not worth worrying about them so much.

You are insane if you think the vast majority of the working class doesnt contribute to the economy.

>This is the result of mandated insurance which is distinct from central banking. FDIC is private IIRC.
Yes and no, the FDIC is not private, its public, and it essentially works as an extension of the fed by being a lender of last resort backed by the treasury in the case the deposit of private banks fails to meet demands for liquidity.

>>56314394
>You are insane if you think the vast majority of the working class doesnt contribute to the economy.
I think the vast majority of the working class isn't retarded.

>>56314381
>No they don't, a crypto exchange is just someone running a server system that exchanges one coin for another. Once you make a trade you should move the coins back to your computer.

Yeah but no one does that shit cuz exchanges offer you tons of stuff in exchange of keeping your money there like yield. Thats why people keep their money there despite the fact that 50% of exchanges have gone bust from the first ones to today.

>It really is more simple than people make it sound in this sense. At any time the exchange owner can run off with everyone's crypto, which is when etherium DEXs became a concept

This is classic libertarian pipe dream. Everything would work perfectly if no one fall into ponzis or shady exchanges. It never works, ponzis are over a century old and people still fall into them, crypto is 15 years old and people still fall for the same tricks created 10 or more years ago.

>>56314400
>I think the vast majority of the working class isn't retarded
They are usually the common pray for scams, ponzis, etc. Most of the victims of Sam Bankman and Do Kwon were not rich folks or ultra poor fags, but average joes that wanted a quick buck.

>>56314416
>Most of the victims of Sam Bankman and Do Kwon were not rich folks or ultra poor fags, but average joes that wanted a quick buck

No, they were people that don't know how crypto exchanges work, and I don't consider them "victims" at all.

>>56314416
Well it sounds like they're falling for it despite the existence of a central bank.
I disagree that they were the majority. It sounded to me like the majority was effectively institutional money laundering but I haven't been paying close attention as I knew it was a scam from the beginning.

>>56314421
>No, they were people that don't know how crypto exchanges work, and I don't consider them "victims" at all

Crypto can create stockholm syndrome.

>>56314424
>Well it sounds like they're falling for it despite the existence of a central bank
Yes, because exchanges are out of their reach.

>>56314434
>Yes, because exchanges are out of their reach.
Lol there are always going to be things beyond their reach. Again you're wanting a strait jacket not fiscal policy.

>>56314388
i think this person is a nerd that doesn't understand anything about crypto i am a big fan of digital currencies and i think everyone should use bitcoin but this guy doesn't seem to know what the hell he is talking about he's just repeating talking points from the mainstream media

>>56314471
listen up pal i may be a little bit of a nerd but i know plenty about the goddamn "crypto" you nerds keep talking about this fancy digital money crap that everyone thinks is going to make them rich but let's be honest all you people care about is money and not actually using these so called "digital currencies" anyway you're all sheep who listen to anything the media tells you and it's people like me who are the true independents just talking actual common sense

>>56314585
listen up pal listen to me and listen carefully ya little computer nerd you don't know anything about me i am not going to waste my time listening to your bullcrap about digital currencies or whatever you like to call it and if you disagree you can go jump off a freaking cliff so don't you ever waste my time with this digital crap that is not real and i bet you sit in your mom's basement on the computer all day typing stuff like this with one hand and eating doritos with the other you have no life so get a life idiot

>>56310011
Read their endgoal mandate, their goal is to create a two tiered society. That’s it.

>>56310051
You do realize its not just the U.S right? US exports its inflation to other nations. The impact on U.S citizens is actually the least.

>>56314775
yeah yeah yeah sure so its americas fault okay i see how it is okay

>>56314889
"what the hell are you babbling about dipshit you're lucky i'm feeling generous and decided to enlighten your ignorant ass"

>>56315033
listen here you ignorant little shithead i ain't saying nothing i never meant ya got that go tell that to your momma

>>56314471
>>56314585
>>56314713
>>56314889
>>56315033
>>56315147

Way to derail an actual productive thread. From the deepest part of my heart, unironcally and truly, go kill yourself 32 IQ troll.

>>56315180
Someone spent money doing that. It was a lot of unbanned public IPs plus compute for text and image inference.

>>56315180
you're a real douchenozzle you know that
you think you're so smart and tough but you have the intelligence and personality of a slug on a slug-trail all you do is spew garbage it's like your brain only works half as fast as normal people's and the only reason you're so cocky is because you're too dumb to understand normal thinking

>>56311044
>nooo I cannot afford a the mortgage payment for a old basic apartment near the city. The system is rigged.
Fixed

>>56315284
hey man go get a life you loser you're probably a virgin who doesn't work and collects welfare you lazy bastard

>>56310011
So that your parents accidentally gave birth to you. Aren't you happy about that?

>>56315425
hey dipshit i already have a life and i have no problems getting girls or money and im not on welfare u stupid ass idiot

Slavery with extra steps. Ask jfk about the federal reserve.

Blaming the system is low iq. Even an inefficient system can be good if it's ran by people who want the best for the unborn.

>>56310011
There is nothing wrong with traditional finance, central banks, FRL, inflationary fiat. We could have coasted by for another century and every country in the world, even the poorest would be better off for it

The problem has and always will be the pact between boomers and jews.

>>56310011
why indeed

>>56315670
>who want the best for the unborn.
which is not the case, retard

>>56310436
Don't add X% of money to the pool per year but instead print a fixed number of $$$. Over time this inflation will gradually approach zero as the overall supply grows compared to the fixed inflation.

Predictable, sustainable and on top of it all it results in greater wealth for all americans over time.

>>56315670
the major problem with the Fed is that it's not run by the people who want the best. Trusting a system to be always run by non-retards is such a stretch that you might as well go to church and pray instead.

>>56315740
Yeah a demoralized blackpill faggot like you is big brain.

If the banks wanted to kill BTC, couldn't they just sell it via fractional reserving like they did/do with fiat and metals, and manipulate the price however they like? All they'd have to do is sell promises of BTC instead of actual BTC, or is this the role exchanges currently play?

>>56315918
That's an extremely irresponsible thing to do. It's what killed all the crypto exchanges. The reason coinbase doesn't blow up is because they don't do this.

>>56315918
They could, but it would optional to use. The problem with fiat is you get your cash diluted to shit unless you store it in the bank, you also can't write checks or make digital payments without a bank. The thing is, if the US gov allowed whats called "narrow banks," which just held 100% reserves, that would destroy the fractional reserve system. But they don't, you can't get a banking license without being fractional reserve. The only reason fractional reserve exist is because its forced on people.

>>56312933
how can I be a cool cat like this, surrounded by azn qt3.14's?

>>56310011
>looks at federal reserve
>Looks away

bitches

>>56314253
>If the demand of money suddenly increases in your society (because say, some technological boom increases the sort of companies that can exist and what people can consume), but the supply remains stable the purchasing power of money goes up.
>the purchasing power of money goes up.
That is a GOOD thing. Only in an over-indebted economy is that bad in the short term, in the sense it may pop an unsustainable debt bubble sooner rather than later. A good economy results in purchasing power going up. That's what you want. And you only want to encourage debt when it can be used in a way to increase average productivity, not reduce it with cheap debt.

The rest of this is incoherent nonsense. The dollar is only perceived as stable because everyone uses it as a unit of account. You pay your rent in fiat, food is priced in fiat, etc. But look at any dynamically priced good, like raw commodities and they oscillate by many multiples, the dollar is not actually stable at all despite the efforts of the central bank if not because of the central bank. A fixed supply currency would be more stable if it was used as a unit of account.

>>56316405
post location

>>56310011
To be the lender of last resort.. unfortunately that creates the incentive to create last resort situations

>>56316405
>That is a GOOD thing. Only in an over-indebted economy is that bad in the short term, in the sense it may pop an unsustainable debt bubble sooner rather than later. A good economy results in purchasing power going up. That's what you want. And you only want to encourage debt when it can be used in a way to increase average productivity, not reduce it with cheap debt

It's not good. It can cripple an ecnomy via
a deflationary spiral. The normal thing is to increase the supply of money if the demand for it increases, as you would with any other product.

>>56310011
Why does a Federal Reserve have us?

>>56315670
>Even an inefficient system can be good if it's ran by people who want the best for the unborn

https://en.wikipedia.org/wiki/Economic_calculation_problem

>>56316551
A deflationary spiral only occurs after a debt bubble collapses. If you have high productivity, you can have deflation, and it is sustainable, there is no spiral. Deflationary spirals are actually the result of inflationary, debt driven economies crashing back to earth and over correcting.

>>56310417
Holy shit this statement open my eyes

>>56310529
Good analogy

>>56310011
Test

>>56315670
>Even an inefficient system can be good if it's ran by people who want the best for the unborn.

What is this I don't even

>>56310054
Yes, just like the current world war being funded

>>56310112
urrency backed by labor.

>>56317026
Wrong, in fact having high productivity, but not enough money to go around can and usually does lead to deflationary spirals, because this fucks the economic calculations. To illustrate this, imagine a world were zero people own debt, everything was paid through savings.

If productivity increases, and people demand more products but there is not enough money to go around, the value of money rises. However, the prices of products are not automatically adjusted, wages cannot be automatically adjusted, and prices take time to adjust. So for example, given that wages are not adjusted on daily or even monthly time periods due to contracts, that means the employer is gaining less money for his products, but he gotta pay his employees the same wages, so he is actually losing money (he is making less money but he gotta pay the same as when he was winning more money), so he gotta fire people, and this can trigger a spiral.

Deflation, generally, also tends to reduce productivity in general, since it's far more lucrative to just hoard money that goes up in value, instead of investing it and risking losing it, meaning people are producing less in general, and this can also stall an economy.

>>56310011
To reserve, federally. Duh.

>>56314093
Depends, in most places gold is tax free so cashing out is basically free (sub 1% premiums), albeit with a floating exchange rate. In this sense we're still on a gold standard. If dollars couldn't buy you gold they'd be entirely worthless.

>>56314330
If efficiency improves to the point you can sell something for cheaper there is no reason you need to pay your workers less since the profit margins should stay the same or even go up if reduced prices mean a more accessible product. Even if wages had to go down it wouldn't be any different than them going up each year, just in reverse. Might even be better because it's harder to lower wages more than inflation than it is to rise wages below inflation rate.

Sounds like controlling the means of production with extra steps.

You have to be a complete braindead piece of shit to believe this Bill Still who is a fucking moron who doesn't understand how central banking works.
Also don't forget that:
-it's the class of bureaucrats who created the central banks
-it's the class of bureaucrats who defined the rules of the central banks
-ti's the class of bureaucrats who name the people at their central banks
-it's the class of bureaucrats who created the idea that central banks buy the public debt, ie the debt created by the bureaucrats themselves. When a CB buys public debt, it's literally the left hand buying the debt created by the right hand. And those people claim it's legit meaningful wealth creation kek.

So the fantasy of the retard Bill Still of the central bank being non-private is already happening. The gobernment and all the public servants control integrally the central bank. SINCE DAY ONE. In europe the ECB has the official status of publicly owned already. They do the same shit as the privately owned FED.
Also it's pathetic how bugs want their bureaucratic daddies to be in charge of the money supply. Bugs literally want what they claim to be the most important thing in society to be controlled by ''the government''. I WANT MY PUBLIC SERVANT DADDY TO TELL ME WHAT TO DO AND DEFINE HOW MUCH MONEY I HAVE WAAAAAAAAAAAHHHH.

FUCKING KEK.