Topic: Bitcoin a fool's Gold Standard? (Read 2688 times)

I have something for you to give you an idea of the size of the debt

USA's Debt

Imagining the American debt-image is not an easy task...

The picture you know, it is a 100 dollar bill.



This famous and known everywhere 100 dollar bill will help us to represent the debt figuratively.

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1 Hundred of these 100 dollar bills create this nice bundle worth $10,000



For $10,000 you can buy a small car or go on a nice vacation.

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1 Hundred of these bundles give you $1,000,000 (one million).  Not as spectacular as some of us has probably thought but an enormous sum.



The most of us will never earn this much in our entire life.  The question 'Who wants to be a Millionaire' simply does not apply to the average person.

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Now it is going to get adventurous.  This is what $100,000,000 (one hundred million) looks like.



As you see $ 100 million still fit on a commercial Palette. In the foreground for comparison is the the $10,000 bundle
and the $1 million stack.

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Ten pallets then yield $1,000,000,000 (one billion), which no longer fits in your auto garage.



If you have not heard, if you should ever plan to rob a bank to steal a billion dollars, remember to bring a truck!

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For $1,000,000,000,000 (one trillion) you would then need 1,000 trucks



Look closely because the pallets are stacked in a double layer to ensure a that they all fit on a football pitch.

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A Boeing 747-400 uses less space, which looks something like this:



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Now lets use altitude, because in relation to the Statue of Liberty this not a house, these are 15.000.000.000.000 $ (fifteen trillion) ...



The Boeing is unfortunately no longer visible...

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Now we want to tell you how high the debt actually is....

Attention, it is ... 114.500.000.000.000 $ (114.5 trillion!)
and it looks like this:



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A whole new perspective!!!!!!!!!!!!!!!!

That's all a good thing, the whole point of a deflationary currency is that it's supposed to be extremely difficult to borrow vast amounts of cash and prevents any possibility of hyperinflation or reckless spending at the expense of others

Credit based money is relatively young; the Fed was created in 1913.

While I believe that Freigeld is the best variety, industrialisation works just fine with commodity money.

For example, loans are basically impossible with a deflationary currency like bitcoin. In an economy where bitcoin were the only currency, loans would have to be done via some other method, or bitcoins would have to be redesigned to be either non-deflationary or with only minor deflation.  

Those are from demonocracy.org a cool site for sure.

But consider that all that money is owed to someone. That's a lot of wealth. Of course this is just a shell game in the end. The debt was invented, nobody "had" all that money to lend out, they just invented it because they have laws written to say they are "creditors".

Take Europe... Take Greece for example. Ten years ago the German and French banks open up the spigot and say "Hey borrow all you want at 4%"

Well common delusion holds that the Greeks borrowed money that these banks had. This is mostly untrue. Because it was sovereign debt, the banks credited Greece with "zero capital allocation". Or in other words they just entered a debt on a ledger and handed Greece newly printed Euros from the ether.

So 10 years go by, 40% of the principal has been paid as interest to the banks, but Greece still owes 100% of the principal because that is the game.

But there was no money borrowed from some wealth holder to lend to Greece. It was conjured for the sole purpose of lending to Greece.

Of course they can never pay it back, I mean the whole world can never pay back more money than the whole world has. This is what the public must wake up to, and realize the banks aren't "owed" jack shit. They have a lot of explaining to do, they owe us a definitive reason we should let them hold their license to steal if they are not furthering human progress (which at this point it is hard to argue that they are doing anything but enriching themselves at the expense of humanity).

Don't get caught up in the illusion of debt, it is just that, it is a rigged game. To whom is what owed... is the ultimate  question of the 21st century.

For example, loans are basically impossible with a deflationary currency like bitcoin. In an economy where bitcoin were the only currency, loans would have to be done via some other method, or bitcoins would have to be redesigned to be either non-deflationary or with only minor deflation.  

For example, loans are basically impossible with a deflationary currency like bitcoin. In an economy where bitcoin were the only currency, loans would have to be done via some other method, or bitcoins would have to be redesigned to be either non-deflationary or with only minor deflation.