Topic: Fractional Reserve Lending IS NOT bad - its unavoidable - page 11. (Read 12751 times)
Only at the parents of the embryo smoking the cancer stick.
^
*NotLambchop add "MuhGunz" to the cliche list*
No law requires you to engage in bitcoin commerce, but this begs the question: What's bitcoin good for, if not for commerce? Isn't that sort-a a given that money is, you know... used?
*NotLambchop add "MuhGunz" to the cliche list*
No law requires you to engage in bitcoin commerce, but this begs the question: What's bitcoin good for, if not for commerce? Isn't that sort-a a given that money is, you know... used?
Money? Did you mean to say currency?
Yes, WEALTH should be stored in something other than fiat, and many make the wise decision to do that very thing.
https://bitcointalksearch.org/topic/m.6691978
Err... Why dredge that up again? Who told you that fiat was a great store of wealth? How does that statement, regardless of it's validity, relate to bitcoin's use as money (or "currency," if you want to fool people into thinkin' you've been to finishin' school)? Are you suggesting that it isn't?
Holy crap, I retract my previous comment about what you seem to know. I apologize, I overestimated your understanding of the topic.
^
*NotLambchop add "MuhGunz" to the cliche list*
No law requires you to engage in bitcoin commerce, but this begs the question: What's bitcoin good for, if not for commerce? Isn't that sort-a a given that money is, you know... used?
*NotLambchop add "MuhGunz" to the cliche list*
No law requires you to engage in bitcoin commerce, but this begs the question: What's bitcoin good for, if not for commerce? Isn't that sort-a a given that money is, you know... used?
Money? Did you mean to say currency?
Yes, WEALTH should be stored in something other than fiat, and many make the wise decision to do that very thing.
https://bitcointalksearch.org/topic/m.6691978
Err... Why dredge that up again? Who told you that fiat was a great store of wealth? How does that statement, regardless of it's validity, relate to bitcoin's use as money (or "currency," if you want to fool people into thinkin' you've been to finishin' school)? Are you suggesting that it isn't?
^
*NotLambchop add "MuhGunz" to the cliche list*
No law requires you to engage in bitcoin commerce, but this begs the question: What's bitcoin good for, if not for commerce? Isn't that sort-a a given that money is, you know... used?
*NotLambchop add "MuhGunz" to the cliche list*
No law requires you to engage in bitcoin commerce, but this begs the question: What's bitcoin good for, if not for commerce? Isn't that sort-a a given that money is, you know... used?
Money? Did you mean to say currency? ...or did you intend to imply that Bitcoin fits the definition of the word money? I'm fine with that provided you also agree that fiat clearly does NOT fit the definition of money.
Sure, please permit me to quote myself, as I've already answered this question in this thread.
Yes, WEALTH should be stored in something other than fiat, and many make the wise decision to do that very thing.
https://bitcointalksearch.org/topic/m.6691978
^
*NotLambchop add "MuhGunz" to the cliche list*
No law requires you to engage in bitcoin commerce, but this begs the question: What's bitcoin good for, if not for commerce? Isn't that sort-a a given that money is, you know... used?
*NotLambchop add "MuhGunz" to the cliche list*
No law requires you to engage in bitcoin commerce, but this begs the question: What's bitcoin good for, if not for commerce? Isn't that sort-a a given that money is, you know... used?
The last looting I heard of in Cyprus was a little Bitcoin bank called NeoBee :$
Relevance? I know very little about neobee and bitcoin securities in general...
You should probably familiarize yourself with Bitcoin securities.
It is a shining example of laissez-faire economy based on non-inflationary currency in action. ~95% failure rate.
NeoBee was a lulzy proposal by a charismatic young man named Danny Brewster to start a Bitcoin/fiat bank. He has raised millions by pitching his brainchild to a receptive audience of Libertarian-leaning amateur financiers.
Then he ran away
Not quite sure how happy that would'a made Grandma. Oh wait...
Please cite the bitcoin legal tender law that requires me to engage in bitcoin commerce or crypto related investing. Your posts are akin to soccer moms that blame guns for "killing" people. Make sense man.
The last looting I heard of in Cyprus was a little Bitcoin bank called NeoBee :$
Relevance? I know very little about neobee and bitcoin securities in general...
You should probably familiarize yourself with Bitcoin securities.
It is a shining example of laissez-faire economy based on non-inflationary currency in action. ~95% failure rate.
NeoBee was a lulzy proposal by a charismatic young man named Danny Brewster to start a Bitcoin/fiat bank. He has raised millions by pitching his brainchild to a receptive audience of Libertarian-leaning amateur financiers.
Then he ran away
Not quite sure how happy that would'a made Grandma. Oh wait...
Photo cutesy of http://www.neo-bee.com/en/ , which is still up to mock the hobby finance aficionados.
The last looting I heard of in Cyprus was a little Bitcoin bank called NeoBee :$
Relevance? I know very little about neobee and bitcoin securities in general. They're not for me. If people choose to entrust their bitcoins with someone else then they were at risk. That should be obvious with a non-redeemable currency like Bitcoin. I haven't heard of anyone being forced to engage in bitcoin commerce or investing.
The last looting I heard of in Cyprus was a little Bitcoin bank called NeoBee :$
*NotLambchop adds "non-government crooks(FRBNY)" to the cliche list*
Is there anyone not conspiring to part you and your monyz, solarion?
Is there anyone not conspiring to part you and your monyz, solarion?
Not in government or banking...no.
I know...I know there's no way Americans will be treated to a Cypriot like looting. It can't happen here. FDR has been dead and gone a long time! US banks are safe, honorable institutions!
Yes, WEALTH should be stored in something other than fiat, and many make the wise decision to do that very thing. That's why banksters(and their puppet politicians) keep attacking things that represent stable stores of value over time that cannot be used to steal through inflation.
What do bankers steal through inflation? Can you describe the process?
Goodness no. Please look up the millions of books or articles on the subject. I can recommend you look up Thomas Jefferson, Andrew Jackson, and Alexander Hamilton's history. If you're disinterested in reading then look up the thousands of youtube videos dealing with FRB, jeckel island, FRBNY, etc. Not doing your homework for you. This stuff should be required reading material for anyone unfortunate enough to have to deal with fiat currency, not a semi off topic paragraph.
Yes, WEALTH should be stored in something other than fiat, and many make the wise decision to do that very thing. That's why banksters(and their puppet politicians) keep attacking things that represent stable stores of value over time that cannot be used to steal through inflation.
What do bankers steal through inflation? Can you describe the process?
*NotLambchop adds "non-government crooks(FRBNY)" to the cliche list*
Is there anyone not conspiring to part you and your monyz, solarion?
Surrender and welcome your Reptilian Overlords, Human!
Forget Grandma, she'll be well taken care of. She's been repurposed into an incubator for teh eggs of our young.
Is there anyone not conspiring to part you and your monyz, solarion?
Surrender and welcome your Reptilian Overlords, Human!
Forget Grandma, she'll be well taken care of. She's been repurposed into an incubator for teh eggs of our young.
Not going to engage in a lengthy drawn out "duh session" with you. ...
You initiated this, and now that you've spouted your entire arsenal of hackneyed cliches, from ObamaCare to brainwashing schools, you ragequit. K
Cliches? Ragequit? Okay bud, frame the non-debate however you like. I'm delighted that FRB, monetary expansion WAY beyond legitimacy, and blatant interest rate manipulation by non-government crooks(FRBNY) have not injured you. Others have plainly been less fortunate.
Not going to engage in a lengthy drawn out "duh session" with you. ...
You initiated this, and now that you've spouted your entire arsenal of hackneyed cliches, from ObamaCare to brainwashing schools, you ragequit. K
Not going to engage in a lengthy drawn out "duh session" with you. You seem to know exactly what theft is going on, you're just fine with it because it doesn't hurt you. It's hurting others...badly, many of whom don't even realize what's happening to them. In large part because intimate knowledge of the modern(scammy) banking system is not a mandatory part of the curriculum in public brainwashing institutions schools.
The problem with low risk investing is it doesn't keep up with the real rate of inflation, but then I think you know that. Low risk investments still result in losses over time...just slower and only then if things go well.
Yes, WEALTH should be stored in something other than fiat, and many make the wise decision to do that very thing. That's why banksters(and their puppet politicians) keep attacking things that represent stable stores of value over time that cannot be used to steal through inflation.
The problem with low risk investing is it doesn't keep up with the real rate of inflation, but then I think you know that. Low risk investments still result in losses over time...just slower and only then if things go well.
Yes, WEALTH should be stored in something other than fiat, and many make the wise decision to do that very thing. That's why banksters(and their puppet politicians) keep attacking things that represent stable stores of value over time that cannot be used to steal through inflation.
Quote
blah blah willful ignorance blah blah it doesn't effect me so I don't care blah blah
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Now that you found out that fiat money is inflationary, you can avoid being a chump by investing it or spending it on goods and services -- not stuffing it in your mattress and expecting it to retain its value.
The cool kids know this, and have been doing this "investing and spending" thing all along. Give it a shot
Now that you found out that fiat money is inflationary, you can avoid being a chump by investing it or spending it on goods and services -- not stuffing it in your mattress and expecting it to retain its value.
The cool kids know this, and have been doing this "investing and spending" thing all along. Give it a shot
How does that help people attempting to store funds for retirement, the risk averse, or entrepreneurs? Should they be invested in something risky to attempt to keep up with the rate of inflation?
Of course, there's all kinds of low-risk retirement funds -- investing != high risk.Quote
This debt based "monetary" system encourages risky(stupid) investments by punishing inactivity,
No. Bitcoin securities encourage risky (stupid) investment. Please visit the securities section to learn what 95% failure rate looks like. Inflation encourages you to put your money to work, instead of using it for mattress stuffing. If you don't like to keep your wealth in fiat, and you shouldn't, spend that fiat on whatever you feel is a better store of value. FRB does not prevent you from doing that. In fact, that's what most normal folks do.Quote
just like ppaca does.
Huh?Quote
Even those that thought they were prepared are getting looted, that's why grandma is working at mc donalds now. She may well have saved up what she thought was a significant sum, but then inflation worked it's magic on her savings.
I have no idea what your grandma did, but my parents are quite comfortable, thanks. I haven't had to help them out financially, or give mom lrides to McD's so's she could work the fryer. Nothing short of a full-on Socialist state would protect every grandma from financial misplanning.Quote
Productivity increases are inherently deflationary,
What does that mean?Quote
but when productivity increases are introduced in modern society the only beneficiaries are those that issue the currency or are first to spend it.
Err... wat? You bake cupcakes. You figure out how to bake them faster and more efficiently. If you're in the baking business, you profit from this productivity increase. No?Quote
That's theft through monetary inflation. There's no capitalism without capital as FRB & artificially low interest rates ensures that there's very little capital formation.
Capital isn't affected by FRB, that's not even wrong . Inflation is not theft. You sound like one of those wacky "Money As Debt" YouT00b vids.Quote
If you want to start a business...BORROW. It's a scam.
Since you understand this, *DON'T BORROW*. Problem solved.
^
Now that you found out that fiat money is inflationary, you can avoid being a chump by investing it or spending it on goods and services -- not stuffing it in your mattress and expecting it to retain its value.
The cool kids know this, and have been doing this "investing and spending" thing all along. Give it a shot
Now that you found out that fiat money is inflationary, you can avoid being a chump by investing it or spending it on goods and services -- not stuffing it in your mattress and expecting it to retain its value.
The cool kids know this, and have been doing this "investing and spending" thing all along. Give it a shot
How does that help people attempting to store funds for retirement, the risk averse, or entrepreneurs? Should they be invested in something risky to attempt to keep up with the rate of inflation? This debt based "monetary" system encourages risky(stupid) investments by punishing inactivity, just like ppaca does. Even those that thought they were prepared are getting looted, that's why grandma is working at mc donalds now. She may well have saved up what she thought was a significant sum, but then inflation worked it's magic on her savings.
Retirement savings wouldn't be a problem if interest rates were in line with inflation.
^
Now that you found out that fiat money is inflationary, you can avoid being a chump by investing it or spending it on goods and services -- not stuffing it in your mattress and expecting it to retain its value.
The cool kids know this, and have been doing this "investing and spending" thing all along. Give it a shot
Now that you found out that fiat money is inflationary, you can avoid being a chump by investing it or spending it on goods and services -- not stuffing it in your mattress and expecting it to retain its value.
The cool kids know this, and have been doing this "investing and spending" thing all along. Give it a shot
How does that help people attempting to store funds for retirement, the risk averse, or entrepreneurs? Should they be invested in something risky to attempt to keep up with the rate of inflation? This debt based "monetary" system encourages risky(stupid) investments by punishing inactivity, just like ppaca does. Even those that thought they were prepared are getting looted, that's why grandma is working at mc donalds now. She may well have saved up what she thought was a significant sum, but then inflation worked it's magic on her savings.
Productivity increases are inherently deflationary, but when productivity increases are introduced in modern society the only beneficiaries are those that issue the currency or are first to spend it. That's theft through monetary inflation. There's no capitalism without capital. FRB & artificially low interest rates ensures that there's very little capital formation. If you want to start a business...BORROW. It's a scam.
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