/biz/ - Business & Finance

[Anonymous No.11967518]

Why can the us print money baked by nothing?

[Anonymous No.11967536]

because they can trade paper for real goods and services by doing so
it's the perfect scam

[Anonymous No.11967540]

>>11967518
Money used to look so nice
Why does everything have to be retarded and/or gay now

[Anonymous No.11967667]

>>11967540
I think Scottish notes are pretty nice

[Anonymous No.11967675]

>>11967518
Anyone can make money backed by nothing. The trick is getting other people to use it anyway.

[Anonymous No.11967681]

they bake money?

[Anonymous No.11967686]

>>11967518

It’s backed by taxing power you brainlet.

[Anonymous No.11967694]

Because you have to use it or you starve.

[Anonymous No.11967701]

>>11967518
It's backed by the ability to buy and sell oil without getting sodomized by a bayonet, which it turns out is actually much more valuable than gold.

[Anonymous No.11967726]

>>11967701
RIP Based Muamar.

You tried but nobody listened.

[Anonymous No.11967741]

>>11967726
Syria and Iran are doing it

[Anonymous No.11967749]

Absolute madmen.

We'll see how it all pans out...

[Anonymous No.11967751]

>>11967518
There's demand for it.

[BSV will win No.11967785]

>>11967518
because it's only temporary.

it's been temporary since the 70s when the gold standard was abandoned.

[Anonymous No.11967796]

Why doesn't a crypto just get government backing? It could be technically decentralized with added benefit of a government's support. Is everyone associated with crypto really too corrupt and/or stupid to make that happen?

[BSV will win No.11967801]

also never forget when the US made it illegal to keep gold at home

[Anonymous No.11967827]

I once got a dollar bill at my highschool cafeteria as change that had "silver certificate" written ontop instead of "federal reserve note". I didn't even realize it until i went to the vending machine to go buy a snapple and luckily noticed that right as i was about to insert the thing

[Anonymous No.11967830]

>>11967801
That Executive Order & dying in time for Truman to be President for the end of the War are the best things that FDR did.

[Anonymous No.11967833]

>>11967801
Dog bless FDR.

[Anonymous No.11967844]

>>11967518
its backed by your future taxes

[Anonymous No.11967846]

>>11967796
Because it was developed by government intelligence and they are literally using the crypto industry to test out how we will react to the real thing.

[Anonymous No.11967849]

>>11967801
I wonder if anyone still genuinely believes in the whole free country shtick? We get proven to be just modern serfs at least publically once every 5 years or so.

[Anonymous No.11967868]

>>11967827
So... is that valuable or wut?

[Anonymous No.11967869]

>>11967796
because they despise it and think its retarded for them trust and control is everything

>>11967846
idiot

[Anonymous No.11967887]

>>11967868
It's worth several dollars at a coinshop. They're just rare. There's larger denom bills with the same thing and some gold certificate ones as well. I still have one

[Anonymous No.11967909]

>>11967887
Interesting at least.

[Anonymous No.11967918]

>>11967909
yeah its pretty cool. I never knew they existed before that. I was like 16 at them time.

[Anonymous No.11967928]

>>11967518
Because kikes would lose their fortunes

[Anonymous No.11967988]

>>11967849
The land of the free; home of Jesus Christ and more nukes than even Satan himself could muster. Where you can't swear on TV but there's a stripper bar in every town. And you need to pledge your allegiance in school every day or face the social or official consequences.

[Anonymous No.11968058]

>>11967988
LOL @ at the bottom line.

But anyway, I hear the East German government used to spy on their citizens, anyone can confirm?

[Anonymous No.11968138]

If you dont have dollars, you either are homeless or going to prison for not paying taxes. Thats the difference from your efag money and real money. The monpoly on force the government processes is what gives there currency value. Saying people are dumb cause they dint realize its just paper shows your a fucking retardo.

[Anonymous No.11968143]

>>11967518
W O R L D

R E S E R V E

C U R R E N C Y

[Anonymous No.11968168]

>>11967988
Genuinely shooting guns is one of the only things keeping me here. They get rid of that I'm going somewhere else. Granted I don't expect utopia in any other country but it's gotta be better than here.

[Anonymous No.11968384]

>>11967518
Mandatory taxation gives it value. It's not backed by nothing. It's backed by trillions of dollars in goods and services, and can pay off obligations to the United States government. Very useful. Cash is king!

[Anonymous No.11968416]

>>11967796
That's already happened. Its called XRP.

[Anonymous No.11968550]

>>11967536
Because they will send an army or police officers to anyone who tries something else

[Anonymous No.11968748]

>>11967518
Why can governments mine a rock and declare it money?

[Anonymous No.11968765]

Gold buggery is autistic Libertarian nonsense. The State introduces money into society, for example, by collecting taxes denominated in said money. Money doesn't spontaneously come into being through a collection of sovereign individuals seeking to trade and suddenly deciding to use a rock as a medium of exchange.

[Anonymous No.11968772]

>>11967801
Why did people cooperate with this?

[Anonymous No.11968783]

>>11968765
Society should only exist based on the trade of goods.
Anything else is authoritarianism.

[Anonymous No.11968784]

>>11968765
Gold is just stability. Don't go all in, but it can't hurt to have a portfolio that's part precious metals if that tickles your cooter.

[Anonymous No.11968795]

>>11968783
Autist.

[Anonymous No.11968833]

>>11967833
*squats onto yoga ball*

[Anonymous No.11969551]

>>11967869
seriously? if the government started a crypto they could KYC everyone's addresses and automatically track every single purchase with it.

government backed crypto is basically a death knell for freedom and I say this as liberal sjw socialist trash

[Anonymous No.11969554]

DUDE EVIL JOOS AMIRITE GUIS?

[Anonymous No.11970176]

You mean for how long can they do it.

Eventually the experiment will crash and burn.

[Anonymous No.11970707]

>>11967518
>> Why can the us print money baked by nothing?
It's baked by giant ovens in the manufacturing process.


... I'm genuinely disappointed in this board for not making this comment earlier.

[Anonymous No.11970778]

>>11967518
Petrodollar. All oil is sold in US dollars, every nation must use us dollars to fuel their economy. All transactions are priced in us dollars and so countries are forced to obtain them through trade or exchange. This creates a mechanical demand for the dollar and gives licence to keep printing with little effect on inflation that is local to the us.
So in effect it is backed by the global economy at large which is what makes it the global standard. Getting off the gold standard was the best economic move the US ever made.
Read up on the petro dollar.

[Anonymous No.11970932]

>>11969551
it's more like the two worlds are entirely incompatible. everything that a decent non-meme crpyto provides is what governments don't look for in a currency. and it's true the other ways too everything a government can provide to the cryptosphere is what crypto enthusiasts are not enthusiastic about.

[Anonymous No.11971516]

>>11968168
i think you're in luck friend because that's never going away, too many guns in circulation now so it's too late. can't take them away from only honest people.

[Anonymous No.11971529]

>>11968772
because they didn't want to flee the country and they didn't want to be locked up for 10 years and come out afterwards with a 10 thousand USD debt, which probably was more than the gold they hoarded in those days

[Anonymous No.11972007]

>>11967518
its backed by products you can buy with it.

[Anonymous No.11972129]

>>11967540
It isn't backed by nothing, it's backed by the "full faith and credit of the US government"
Basically by the idea that the US govt won't for the foreseeable future rapidly devalue the dollar when the interest on the debt becomes too burdensome to pay

[Anonymous No.11972171]

>>11967518
>>11967540
It isn't backed by nothing, it's backed by the "full faith and credit of the US government"
Basically by the idea that the US govt won't for the foreseeable future rapidly devalue the dollar when the interest on the debt becomes too burdensome to pay

[Anonymous No.11972184]

>>11967518
They are literally protection tokens.
You have to sell your wealth for government tokens, because if you don't, they send men with guns and fuck you up.
That's all there is to it.

[Anonymous No.11972186]

>>11967785
>abandoned
TEMPORARILY SUSPENDED

[Anonymous No.11972202]

>>11967518
if you dont pay your taxes in it, go directly to jail. i'd say that creates some demand/backing.

[Anonymous No.11972273]

>>11968765
Except it does. Have you ever heard of the original purpose of a mint? To stamp a certain quantity of metal to ensure its weight and quality.

People were using metals to trade long before the government had any control over money. Fiat only became widely used in the 20th century.

[Anonymous No.11972479]

>>11968765
"Shell Money" as a system of exchange pre-dates all government.

[Anonymous No.11973578]

>>11967518
>backed by nothing
the US Dollar is backed by the collective ignorance of the public