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/biz/ - Business & Finance

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17498478 No.17498478 [Reply] [Original]

Daily reminder the first country to eliminate their central bank and allow free market banking will have the highest living standards on earth within 5 years.

Massive high paying service sector jobs with dominate this country's economy to consume the goods the rest of the world has to produce for it.

The workweek would shrink to 2-3 days a week and people would retire much earlier. This will also lead to more jobs becoming available.

Everyone would have high saving rates. Houses would be inexpensive. Debt would be strongly discouraged economically.

Massive automation would take place as the cost of capital goods would be extremely cheap. This will lead to massive levels of technological innovation.

It would be extremely easy for the average person to start a business due to the cheap cost of capital goods.

Daily reminder actual free markets have prices falling all the time instead of going up.

Daily reminder America never had a system of free market banking for most of it's history. There were only patches of American history with free market banking. The panics that happened during the 1800s were due to government intervention in the banking sector. Sweden had the longest most successful period of free banking and that's what made them really rich.

Daily reminder the longest period of (relatively)free banking in America coincided with the INDUSTRIAL REVOLUTION where wages rose and prices fell.

Daily reminder central banks are the very reason the economy is a pile of shit and our generation is so fucked. In 1970 Richard Nixon took us off the gold standard and allowed endless money printing which fucked us.
https://wtfhappenedin1971.com/

Basically what I'm saying is if we had a free market, the entire fucking country would be disneyland or universal studios and people would barely have to work.

Why would you NOT support this unless you were a shill?

>> No.17498523

>>17498478
>Daily reminder the first country to eliminate their central bank and allow free market banking will have the highest living standards on earth within 5 years.
Daily reminder: Not if its full of NIGGERS

>> No.17498529

>>17498478
> In 1970 Richard Nixon took us off the gold standard and allowed endless money printing which fucked us.

the global economy had effectively stopped using a true gold standard even before bretton woods. the conflation with free market banking with an asset as illiquid as gold is also hilarious

>> No.17498552

>>17498478
You're grossly underestimating how fucking stupid people are. This will fail within the first 6 months. Crime will skyrocket. This is a terrible plan.

>> No.17498564

>>17498529
When the fed was created it put us on a semi gold standard, which was shit but at least it wasn't pure fiat currency.
In 1970 when we got off the gold standard for good, it actually absolutely fucked us.
The economy grew a lot faster under an actual gold standard.

>> No.17498581

>>17498552
>This will fail within the first 6 months.
Why?

>> No.17498735
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17498735

UUUUHHHH BASED?

>> No.17498796

>>17498478
>elminating central banking and you'll get seige for WMDs

>> No.17498813

>>17498564
no, quite literally the point of monetary policy is to drive extreme growth rates. the real question is whether that is sustainable without causing overheating of the economy, to which the answer at least in recent memory has generally been “yes”

Think of it like noob gains, when someone first goes to the gym. With the sheer potential of American industry and the amount of capital flooding in after Woods, we could literally have been communist and still seen explosive growth rates. But as the economy expands in size, naturally the growth rate will slow, which is where inflationary fiat comes in to maintain enduring bandwidth for growth and ensure liquidity is maximized.

The Soviets were able to keep pace with us for a few decades because their initial capital flows were similar to our own, but by the 80s they simply could not keep up with inflationary fiat capitalism. Which is why every relevant country now participates in the ponzi, and why free market banking (at least until some sort of defi solution becomes viable) simply cannot outcompete what we currently have

>> No.17498837

>>17498478
Give me their names.

>> No.17499109

>>17498837
Bernie Sanders