It's strange to compare a deflationary environment in a country operating with a single currency, which is pretty clearly bad, to deflation in the value of a currency that coexists with other currencies within an economy.
The idea that Bitcoin will become "too valuable" doesn't take into account the fact that people will cave and start buying houses and yachts and so on by converting to USD in order to live the lifestyles they can now afford. In a world where bitcoin is the only currency and all services are denominated in bitcoin value, deflation might cause problems, but that will never happen and was never the point of bitcoin in the first place.
I hope we have a lively bitcoin economy with deep connections to the non-bitcoin economy the same way I hope that America has a lively economy with deep connections to other economies. I want more bitcoin-denominated services as much as anyone, but the intercourse with "the outside" is key for keeping bitcoin healthy in my opinion.
Topic: Isn't deflation a bad thing? (Read 2102 times)
So your main only concern is that the benefits made from the banks are shared to people who invested in the bank and not to the government?
The issue is that when you deposit $10 the banks make interest based on $100... what work do they do such that they deserve $100? What value do they bring? Instead of bringing value to you they go and trade on the open market to make even more money off of your future debt payments. Is it safety that you money is safe? Then buy a safe and store your money in there? This is where Bitcoin helps as you are safe aslong as you keep your wallet secure (not hard to do)... same as keeping a pin number safe on your interact card!
If we create bitcoin atm's then ppl would start using them, but sure as hell banks would be there on every corner lobbying AGAINST using them. Funny world. Its nowhere near your example of selling water, since that is a natural resource and there is a true demand/supply force in effect there.
So your main only concern is that the benefits made from the banks are shared to people who invested in the bank and not to the government?
Yes mainly. As long as our governments won't control its money supply, democracy is a joke.
So your main only concern is that the benefits made from the banks are shared to people who invested in the bank and not to the government?
Yes deflation only is a bad thing but controlled inflation/deflation is very good! With deflation banks would not lend and we would crash via the great depression. With inflation we collapse under interest payments. I like the crypto's that are not capped to a limit but have infinite limit (inflationary) but only allowed to create certain number of coins per year (deflationary)... with this in mind we can achieve some sort of equilibrium of demand/supply where you wouldn't have people waiting to buy and you wouldn't have people eager to sell on each end of the spectrum respectively. Allowing bitcoins to be more divisible is not a solution as it does nothing to avoid any deflation statistic, this is from those who don't understand the economic side of things.
Deflation is only bad in a debt base currency. It creates recession because the money is taken out from circulation and prices cannot fall because debt (which the currency is based on) is not deflationist. When the currency is not based on debt (like bitcoin) deflation is a good thing because everyone is wealthier.
I think a non debt based economy may be the ultimate goal but it may be too far fetching, I think that they may "settle" for something more inflationary than btc on the way to accepting a pure deflationary economy. I dont think we could do an entire switch from debt to non debt based, atleast in our lifetimes.
I have good faith that bitcoin will change things faster than this. But only time will tell...
Not 100 % of the money supply is from the debt, but whatever... It's almost true.
Yes a 100%
read this http://www.rayservers.com/images/ModernMoneyMechanics.pdf
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You have no choice to die some day, do you consider yourself a slave? What do you want to do against that? Nothing. It's just fine. You can't control everything...
A society that is trapped in debt with no way to get out is a modern form of slavery. But you just don't want to admit it.
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Please state explicitly what you dislike about it....
That the bank is making money by lending money? They are working like everyone, xx hours per week, and got the same salary as engineer, or other people. The richest man in the world is selling computer softwares (Bill Gates), and there is only 1 guy from the finance in the top 20. Yes, the bank are making money, just like every other company. And they creates thousands of jobs.
That the bank is making money by lending money? They are working like everyone, xx hours per week, and got the same salary as engineer, or other people. The richest man in the world is selling computer softwares (Bill Gates), and there is only 1 guy from the finance in the top 20. Yes, the bank are making money, just like every other company. And they creates thousands of jobs.
Bank cashiers are working, yes. Not the top bankers. They are way too busy waging wars in middle east for their oil companies.
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If all the richest men in the world were bankers, I would agree with you, but it's not the case.
Not to mention that oil company have 10 - 20 - 30 times the bank's benefits. And the benefit made from the bank are shared to all the shareholders: feel free to invest if you want.
Not to mention that oil company have 10 - 20 - 30 times the bank's benefits. And the benefit made from the bank are shared to all the shareholders: feel free to invest if you want.
About oil companies, they mostly belong to bankers for your information. Do some research before speaking about things you do not know.
hint: Look who and how the major US banks was created
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They do not employ children in China to creates their products.
This is completely false from at least a decade.
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You say that it is wrong because the video say so, but really?
I have done way much research than you think. This video is simply a good summarize of the monetary system.
Yes deflation only is a bad thing but controlled inflation/deflation is very good! With deflation banks would not lend and we would crash via the great depression. With inflation we collapse under interest payments. I like the crypto's that are not capped to a limit but have infinite limit (inflationary) but only allowed to create certain number of coins per year (deflationary)... with this in mind we can achieve some sort of equilibrium of demand/supply where you wouldn't have people waiting to buy and you wouldn't have people eager to sell on each end of the spectrum respectively. Allowing bitcoins to be more divisible is not a solution as it does nothing to avoid any deflation statistic, this is from those who don't understand the economic side of things.
Deflation is only bad in a debt base currency. It creates recession because the money is taken out from circulation and prices cannot fall because debt (which the currency is based on) is not deflationist. When the currency is not based on debt (like bitcoin) deflation is a good thing because everyone is wealthier.
I think a non debt based economy may be the ultimate goal but it may be too far fetching, I think that they may "settle" for something more inflationary than btc on the way to accepting a pure deflationary economy. I dont think we could do an entire switch from debt to non debt based, atleast in our lifetimes.
I'm not speaking at an individual level but at a collective level. The society has no choice to have 100% of its money supply to be debt.
No choice = slavery
Nothing less, nothing more.
But unless you admit this to yourself you will never understand that this is a real problem.
No choice = slavery
Nothing less, nothing more.
But unless you admit this to yourself you will never understand that this is a real problem.
Not 100 % of the money supply is from the debt, but whatever... It's almost true.
You have no choice to die some day, do you consider yourself a slave? What do you want to do against that? Nothing. It's just fine. You can't control everything...
Please state explicitly what you dislike about it....
That the bank is making money by lending money? They are working like everyone, xx hours per week, and got the same salary as engineer, or other people. The richest man in the world is selling computer softwares (Bill Gates), and there is only 1 guy from the finance in the top 20. Yes, the bank are making money, just like every other company. And they creates thousands of jobs.
If all the richest men in the world were bankers, I would agree with you, but it's not the case.
Not to mention that oil company have 10 - 20 - 30 times the bank's benefits. And the benefit made from the bank are shared to all the shareholders: feel free to invest if you want.
If you could not invest in the bank, and get paid with their benefits, I would understand the problem, but it's just like every other private company... And I think that the banks are not the worst "ethical" companies ever. They do not employ children in China to creates their products. You say that it is wrong because the video say so, but really?
Let me give a final example:
Private companies are exploiting water's source and you have to buy water from them. You need to drink water if you want to survive.
Would you consider a slave from them? Would you think that it is a problem? They are making money out of the water you have to drink
Like banks, they have costs, and revenues, and they can make more money than the banks.
The facts that the benefits from the banks are shared to the shareholders who invested, and not to the government, ie everyone, is your problem? Common. And why the billion of benefits generated from the sell of water are not shared to everyone aswell?
Yes deflation only is a bad thing but controlled inflation/deflation is very good! With deflation banks would not lend and we would crash via the great depression. With inflation we collapse under interest payments. I like the crypto's that are not capped to a limit but have infinite limit (inflationary) but only allowed to create certain number of coins per year (deflationary)... with this in mind we can achieve some sort of equilibrium of demand/supply where you wouldn't have people waiting to buy and you wouldn't have people eager to sell on each end of the spectrum respectively. Allowing bitcoins to be more divisible is not a solution as it does nothing to avoid any deflation statistic, this is from those who don't understand the economic side of things.
Deflation is only bad in a debt base currency. It creates recession because the money is taken out from circulation and prices cannot fall because debt (which the currency is based on) is not deflationist. When the currency is not based on debt (like bitcoin) deflation is a good thing because everyone is wealthier.
Yes deflation only is a bad thing but controlled inflation/deflation is very good! With deflation banks would not lend and we would crash via the great depression. With inflation we collapse under interest payments. I like the crypto's that are not capped to a limit but have infinite limit (inflationary) but only allowed to create certain number of coins per year (deflationary)... with this in mind we can achieve some sort of equilibrium of demand/supply where you wouldn't have people waiting to buy and you wouldn't have people eager to sell on each end of the spectrum respectively. Allowing bitcoins to be more divisible is not a solution as it does nothing to avoid any deflation statistic, this is from those who don't understand the economic side of things.
And for you it is just fine that private entities are creating money out of thin air to enslave people with debt?
They are not creating money out of thin air. They are creating it from a pledge that it will be paid back with interest.
And I can't see how it enslave people. You are free to no borrow anything.
Let's assume you have 1 000 usd per month to live.
Do you prefer to buy a nice and big house that you can give to your child when you die? (you just need to pay 500 usd per month for 40 years to the bank)
Or do you prefer to rent a small flat for 500 usd per month because you don't have enough money to buy a house? And when you die, your child has nothing
I'm not speaking at an individual level but at a collective level. The society has no choice to have 100% of its money supply to be debt.
No choice = slavery
Nothing less, nothing more.
But unless you admit this to yourself you will never understand that this is a real problem. You are probably living in a magic world full of elf, leprechaun and colourful balloon.
And for you it is just fine that private entities are creating money out of thin air to enslave people with debt?
They are not creating money out of thin air. They are creating it from a pledge that it will be paid back with interest.
And I can't see how it enslave people. You are free to no borrow anything.
Let's assume you have 1 000 usd per month to live.
Do you prefer to buy a nice and big house that you can give to your child when you die? (you just need to pay 500 usd per month for 40 years to the bank)
Or do you prefer to rent a small flat for 500 usd per month because you don't have enough money to buy a house? And when you die, your child has nothing
Ok, I watched the first video, but I don't see the problem. For me, it's just fine. The only thing is that the government is borrowing money instead of creating it himself. But it still can delete his own debt or make a law to fix it, and regulate the bank's profit. I don't think that the whole system is wrong, but just maybe it needs more regulation.
Yea but it will never happen. Banks rule governments for centuries because they own the money printing machine and governments are way too corrupted to do anything about that.
And for you it is just fine that private entities are creating money out of thin air to enslave people with debt?
Ok, I watched the first video, but I don't see the problem. For me, it's just fine. The only thing is that the government is borrowing money instead of creating it himself. But it still can delete his own debt or make a law to fix it, and regulate the bank's profit. I don't think that the whole system is wrong, but just maybe it needs more regulation.
Which language do you speak? these videos has been translated in a lot of languages
French
Here
http://www.dailymotion.com/video/x75e0k_l-argent-dette-de-paul-grignon-fr-i_news
http://www.youtube.com/watch?v=mC9rpRa8zlw
Yeah, cheaper prices are bad.
Lol you made my day if you are serious
Which language do you speak? these videos has been translated in a lot of languages
French
Watch the vids in my signature
I'm sorry but I don't understand English.
It's not my native language, and I can read or write a little bit of English, but I can't understand a video without subtitles.
Which language do you speak? these videos has been translated in a lot of languages
Yeah, cheaper prices are bad.
Watch the vids in my signature
I'm sorry but I don't understand English.
It's not my native language, and I can read or write a little bit of English, but I can't understand a video without subtitles.
Why would it be a problem if bread costs $100,000,000?
Everyone would have more much than that, and you can pay with a credit card.
Everyone would have more much than that, and you can pay with a credit card.
Watch the vids in my signature
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