Economic Devastation - page 46. | Bitcointalksearch.org

RealBitcoin

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Quote from: bigtimespaghetti on November 03, 2015, 12:19:07 AM

I disagree- if you look at the history of credit cards (especially in the US) they were originally issued as store credit. Pretty much independent from the banking system or at least independent from the gold standard. Banks will always issue credit in one form or another as there will be a market for it.

Banks should loan out their capital, like it used to be in the past 3000 years.

Enough with this printed money ponzi schemes. If they adopt bitcoin, they will be restricted to loan out only as much as they have.

Then they will be forced to actually compete (like how capitalism supposed to be) and have a strict credit policy, with small default rate.

This could revive the economy, but i think its too late for this shift.

macsga

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I don't know if it's clear enough that Bitcoin belongs to NO ONE! It doesn't matter if a bank, a ceo, a collective or a clan decides to pump it, store it, accumulate it or whatever. Bitcoin is FINITE! There simply will never be enough for everyone! If people decide to use it, there will be no upper limit - simple as that!

Regarding the conspiracy theories, I will have to post what I used to about 3 years ago in this forum: "Bitcoin is built with one goal in mind... human greed is surpassed". So, in essence, nothing is more certain than in this way, the guys who brought the world onto its knees via sovereign debt (by using bank "products") will eventually play their end game.

I personally see absolutely no devastation in this for any of us. Only for them.

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Quote from: macsga on November 02, 2015, 06:06:22 PM

Quote from: RealBitcoin on November 02, 2015, 02:19:51 PM

Quote from: macsga on November 02, 2015, 05:30:41 AM

Of course, if it hits a million dollars it would be devastating for the banks.

So you think the banks will just stay and watch until bitcoin takes off.

Man these banks will be the ones pumping bitcoin. Once they realize how good it is, they will put billions of $ in it, and make a fortune with it later on.

They will not stay and wait until grandmothers will put money in bitcoin, or the other sheeple, banks are opportunists, they will probably invest in the next 2-3 years in bitcoin.

I actually expect the next bitcoin pump to be driven by the banks.

I don't care if Banks embrace BTC, actually that's what I want! The thing is, once they do, there's no more QE or -to put it simple- money inflation anymore. Gresham's law will do the rest. This is the first and most important thing BTC incorporates IMHO.

I disagree- if you look at the history of credit cards (especially in the US) they were originally issued as store credit. Pretty much independent from the banking system or at least independent from the gold standard. Banks will always issue credit in one form or another as there will be a market for it.

OROBTC

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Quote from: RealBitcoin on November 02, 2015, 07:54:13 PM

Quote from: macsga on November 02, 2015, 06:06:22 PM

I don't care if Banks embrace BTC, actually that's what I want! The thing is, once they do, there's no more QE or -to put it simple- money inflation anymore. Gresham's law will do the rest. This is the first and most important thing BTC incorporates IMHO.

Ok so the banks are not prohibited to use BTC by their regulators or central banks.

But there are already some banks that would like to use BTC, but their regulators dont let them.

So you think that bank's CEO or other directors will just sit there and scratch their heads? They will buy BTC with their own money. (acumulate)

And then try to lobby the regulators to greenlight BTC, so that they can use the bank's funds to buy BTC and pump price higher.

So they first buy-up with their money, then pump it up with the banks money, and then make profit Cheesy

I would not be surprized if this would happen.

And that is a nice conspiracy theory that is believable. Sure, a bankster could back up the truck buying BTC, get the authorities to approve mass market use of it, and do mightily well off of it.

Given BTC's volatility, it seems that it does not take much change in BTC demand to radically move the price.

RealBitcoin

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Quote from: macsga on November 02, 2015, 06:06:22 PM

I don't care if Banks embrace BTC, actually that's what I want! The thing is, once they do, there's no more QE or -to put it simple- money inflation anymore. Gresham's law will do the rest. This is the first and most important thing BTC incorporates IMHO.

Ok so the banks are not prohibited to use BTC by their regulators or central banks.

But there are already some banks that would like to use BTC, but their regulators dont let them.

So you think that bank's CEO or other directors will just sit there and scratch their heads? They will buy BTC with their own money. (acumulate)

And then try to lobby the regulators to greenlight BTC, so that they can use the bank's funds to buy BTC and pump price higher.

So they first buy-up with their money, then pump it up with the banks money, and then make profit Cheesy

I would not be surprized if this would happen.

macsga

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Quote from: RealBitcoin on November 02, 2015, 02:19:51 PM

Quote from: macsga on November 02, 2015, 05:30:41 AM

Of course, if it hits a million dollars it would be devastating for the banks.

So you think the banks will just stay and watch until bitcoin takes off.

Man these banks will be the ones pumping bitcoin. Once they realize how good it is, they will put billions of $ in it, and make a fortune with it later on.

They will not stay and wait until grandmothers will put money in bitcoin, or the other sheeple, banks are opportunists, they will probably invest in the next 2-3 years in bitcoin.

I actually expect the next bitcoin pump to be driven by the banks.

I don't care if Banks embrace BTC, actually that's what I want! The thing is, once they do, there's no more QE or -to put it simple- money inflation anymore. Gresham's law will do the rest. This is the first and most important thing BTC incorporates IMHO.

OROBTC

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Quote from: RealBitcoin on November 02, 2015, 02:19:51 PM

Quote from: macsga on November 02, 2015, 05:30:41 AM

Of course, if it hits a million dollars it would be devastating for the banks.

So you think the banks will just stay and watch until bitcoin takes off.

Man these banks will be the ones pumping bitcoin. Once they realize how good it is, they will put billions of $ in it, and make a fortune with it later on.

They will not stay and wait until grandmothers will put money in bitcoin, or the other sheeple, banks are opportunists, they will probably invest in the next 2-3 years in bitcoin.

I actually expect the next bitcoin pump to be driven by the banks.

^^^ (Blue coloring mine) ^^^

I just read that the recent price spikes may be caused (at least in part) by a Philippine Ponzi ("MMM", mentioned in a comment at a Zero Hedge comment today and at reddit) as well, probably, by recent Chinese buying (Zero Hedge).

RealBitcoin

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Quote from: macsga on November 02, 2015, 05:30:41 AM

Of course, if it hits a million dollars it would be devastating for the banks.

So you think the banks will just stay and watch until bitcoin takes off.

Man these banks will be the ones pumping bitcoin. Once they realize how good it is, they will put billions of $ in it, and make a fortune with it later on.

They will not stay and wait until grandmothers will put money in bitcoin, or the other sheeple, banks are opportunists, they will probably invest in the next 2-3 years in bitcoin.

I actually expect the next bitcoin pump to be driven by the banks.

macsga

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Quote from: CoinHopper on November 01, 2015, 11:46:51 PM

If bitcoin hits a million dollars, won't there be a huge economic devastation?

Of course, if it hits a million dollars it would be devastating for the banks. So in a way this will be considered as a *partial* economic devastation...

I'd personally call such an effect as a 'solution'...

CoinHopper

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Two heads are better than one.

If bitcoin hits a million dollars, won't there be a huge economic devastation?

Johnny Mnemonic

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TPTB_need_war

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Quote from: rpietila on October 28, 2015, 03:01:25 AM

NWO is actually in the process of losing this war. (Excellent article.) Lately, their false flags are exposed immediately and the number of people or even countries that believes them is less and less.

The new thing is also how Putin is destroying the American weapons in the ISIL hands, effectively fighting a victorious defensive proxy war against NWO imperialism, and what's best: NWO cannot even propagate their own version of it without being laughed at! Cheesy

People in countries, supposedly in NWO hands, can openly rejoice of NWO being on the receiving side in the battle.

Truly, liberation is near Grin

Except that Putin is the NWO.

BitcoinForumator

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Quote from: rpietila on October 28, 2015, 03:01:25 AM

NWO is actually in the process of losing this war. (Excellent article.) Lately, their false flags are exposed immediately and the number of people or even countries that believes them is less and less.

The new thing is also how Putin is destroying the American weapons in the ISIL hands, effectively fighting a victorious defensive proxy war against NWO imperialism, and what's best: NWO cannot even propagate their own version of it without being laughed at! Cheesy

People in countries, supposedly in NWO hands, can openly rejoice of NWO being on the receiving side in the battle.

Truly, liberation is near Grin

Exactly, bingo. So many people know the drill now.

Unless those bastards pull off something nasty. I don't underestimate them given the track record.

rpietila

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NWO is actually in the process of losing this war. (Excellent article.) Lately, their false flags are exposed immediately and the number of people or even countries that believes them is less and less.

The new thing is also how Putin is destroying the American weapons in the ISIL hands, effectively fighting a victorious defensive proxy war against NWO imperialism, and what's best: NWO cannot even propagate their own version of it without being laughed at! Cheesy

People in countries, supposedly in NWO hands, can openly rejoice of NWO being on the receiving side in the battle.

Truly, liberation is near Grin

americanpegasus

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They won't need to go door to door in the future.

They will simply ban paper money, or pass a law that no individual may hold more than $10,000 in physical cash at a time. Then they enact negative interest rates.

The features of cryptonote suggest that whoever designed it has at least a guess about the future of its regulation: all those who hold raw crypto will likely have to register their addresses with the government and provide their view keys to the IRS and SEC. Earning zero percent interest on your deflationary or disinflationary crypto will seem like a luxury.

OROBTC

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Quote from: rpietila on October 25, 2015, 05:49:45 AM

Who has ordered such a thing (nominally) - is the an organ of government that even possesses such a power?

During the great heist and power grab in the US in 1933 (called the "New Deal"), gold was ordered to be turned in, yet about 1% only did it.

The likely result of this that a government that has anyway lost its legitimacy among people is getting a one more formal claim that all the citizens are criminals, and may be selectively prosecuted unless they keep their mouth shut in the coming robberies.

My strategy has for some time been to ignore such. I am too dangerous to them that they would too much care whether I break their monkey-law or not. (I may have broken some law in the past, but in every case of the official harassment, it has not even involved my breaking the law - their attack against me is not motivated by real or even perverted sense of justice, but solely by the political expediency and what resources they have at hand at the moment and who other they need to whack-the-mole).

Some thoughts:

(1) Yes, in 1933 the government was not able to grab much of the gold. I read estimates of around 10% of the gold was seized. But, whether the amount was 1% or 10% does matter much, 90% + was NOT seized. And in 1933 there was far more faith in .gov than there is now. On the other hand, gold was considered money, and so .gov essentially defaulted on its own citizens (seizing the gold by paying $22 / oz in paper, THEN raising the gold price to $35), and the best arguments that I have read suggest that government does not NOW need the gold, they can inflate...

(2) rpietila, I am sure that you well know that the Soviets under Stalin enacted their laws such that EVERY CITIZEN committed at least one felony or other serious crime every day. This was so that the Communist PTB could arrest anyone at any time, and it would be "legal". Political crime like this is a real danger going forward.

(3) "... in the coming robberies." Nicely put. I do not see how .gov & banksters do NOT rob the citizens to keep their corrupt ponzis and schemes going... It is Easy Money for those at the top.

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Quote from: OROBTC on October 25, 2015, 02:34:07 AM

...

cutesakura

That's quite a list, even for someone like me who is extra-cautious (paranoid) about weaknesses in our financial system.

* * *

David Einhorn, mentioned in your Item 12, has some bad friends. This is long, but extremely interesting. Every fraud in the book: ominous DTCC, Russian Mafiya, slime at wikipedia, MainStream Media liars, etc. Everything...:

http://www.deepcapture.com/wp-content/uploads/2009/08/deepcapture-the-story-v1.pdf

There appears to be a LOT going on under the covers. Economic Devastation may result.

Quote from: cutesakura on October 24, 2015, 11:19:25 PM

As we enter the second half of 2015, financial panic has gripped most of the globe....
...We have entered uncharted territory, and what comes next is going to shock the world

Yes, the above is an interesting piece by Michael Snyder at the Economic Collapse blog
http://theeconomiccollapseblog.com/archives/16-facts-about-the-tremendous-financial-devastation-that-we-are-seeing-all-over-the-world

passed on by cutesakura

rpietila

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Who has ordered such a thing (nominally) - is the an organ of government that even possesses such a power?

During the great heist and power grab in the US in 1933 (called the "New Deal"), gold was ordered to be turned in, yet about 1% only did it.

The likely result of this that a government that has anyway lost its legitimacy among people is getting a one more formal claim that all the citizens are criminals, and may be selectively prosecuted unless they keep their mouth shut in the coming robberies.

My strategy has for some time been to ignore such. I am too dangerous to them that they would too much care whether I break their monkey-law or not. (I may have broken some law in the past, but in every case of the official harassment, it has not even involved my breaking the law - their attack against me is not motivated by real or even perverted sense of justice, but solely by the political expediency and what resources they have at hand at the moment and who other they need to whack-the-mole).

macsga

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Quote from: rpietila on October 25, 2015, 03:53:10 AM

When the crisis of 2008 hit, they actually came after my gold and silver and confiscated them. So if you prepare for disruptions by stocking up crypto, PM, or banknotes, it is important to shield them physically (hide) as well.

The compartmentalization works such that the ones sent after you are from local government agencies, they are no special agents. They believe they are investigating some tax evasion or money laundering case. They hardly know what a thought crime is nor understand that they are the thought police in action Tongue

Rumor has it that in Greece, the following months all citizens should declare ALL of their belongings or else they will have to pay 40% tax if they reveal them later. That includes PM, cash notes and generally everything that has a value. I don't have anything to hide (after 6y of austerity very few have) but truly bothers me that we're FORCED to do such a thing.

I find no other explanation that covers such an act, apart from the fact that they want to confiscate them after a certain date. Undecided

rpietila

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When the crisis of 2008 hit, they actually came after my gold and silver and confiscated them. So if you prepare for disruptions by stocking up crypto, PM, or banknotes, it is important to shield them physically (hide) as well.

The compartmentalization works such that the ones sent after you are from local government agencies, they are no special agents. They believe they are investigating some tax evasion or money laundering case. They hardly know what a thought crime is nor understand that they are the thought police in action Tongue

Topic: Economic Devastation - page 46. (Read 504811 times)