Topic: Just a friendly reminder.... (Read 953 times)

I think we will see the advanced of civilization soon and I think we already see it now. If you compare between with what happens in 100 years ago and now, you will see a big difference, and I would say that we are lived in the advanced of civilization which much new technology was invented.

I am not sure if the FIAT currency will not be used again in the future, but that could be possible if, in one country, they don't have a raw source to create the paper for print the fiat currency. You can imagine if our world will become like what we watch in the movie.

very unfair! they print the money with infinite and then they Loan it to society who need it. if people can't pay it back this list must be happen :
1. Broken Household as divorce etc.
2. the Depression of the debtor until he get crazy or even suicide
3. Became Homeless. this is almost all the debtor will experience.
these are only sort of Negatif list because of the FED system.

you all know The Devil is real! FED is suck! Blockchain will replace it soon!

then what kind of advanced civilization? Do you think that one day the FIAT currency will no longer be used? in my prediction it is very unlikely, even though civilization has really advanced.

If everyone joined together and just stopped using fiat their system would collapse.  The thing is that money doesn't even matter.  We still still have the same amount of natural resources.  A truly advanced civilization would reach a point where they don't even have money.

That is one of the reasons why people and organizations are so attracted to Bitcoin, they do now have to answers to the authority, and the limited supply make out of control of inflation, people want freedom and decentralization and they can only get it by supporting and holding Bitcoin.

Both have changes in their value but the difference is bitcoin increasing its value whether the price of fiat loses its value every year.Money has also limitations but no transparency on it so only limited people know on what basis money were printed by banks and it also supported by government.

This part can be universally applied in any context

Think of these assets as your capital, i.e. something you earn money with. For example, if you are a carpenter, that will be your toolbox (e.g. a hammer or an axe). Obviously, they are the last thing you are going to sell, and selling them will be a downright irrational decision unless you have very good reasons to (e.g. in emergencies). The same is equally applicable to Bitcoin and other cryptoassets with which people are earning a living. And from this perspective and in this context specifically, selling them for the purpose of reckless spending would be a waste of capital and bordering right on the insane

This is something I agree with 100%. Paper money is.. paper (no matter what is printed on).

But I felt I had to come in because I've found the part "No one in his sane mind would waste their assets thereby losing future profits (only in cases of extreme emergency)" way too extreme.
Sorry if my explanation felt like out of context.

It seems that you miss the context

It is not about holding versus spending bitcoins as such. The question is about choosing between what to spend if presented with a choice. Obviously, the total majority of people involved in crypto would choose to spend dollars (or whatever) instead of spending bitcoins if they have that option. This is a rational choice, that's basically why no one is going to part with their dear coins unless they have to. Other than that, you would indeed sell some of your assets, be it stocks, bonds, or coins (or even gold) in case you need cash, but that's not the point. Also, you spend profits obtained with your assets, not the assets themselves (read, you can enjoy your earnings fully)

I beg to differ.
Bitcoin also helps the economy as a coin. You can earn it, you can spend it (yeah, usually have to convert it to fiat at exchanges first), you can transfer it easy, cheap and fast anywhere in the world.
If a business on the other half of the world needs liquidity, the easiest and fastest way to provide is through Bitcoin.

Yes, it's a store of value too, but "No one in his sane mind would waste their assets thereby losing future profits (only in cases of extreme emergency)" is a bit extreme. I usually advise for moderation. In holding and also in spending. I think that keeping your assets without spending, without enjoying your earnings, is rather insane. So I advocate something like hold some, spend some.

Well, that is in fact an open question

I don't argue that most of us (me included) would keep our precious coins to ourselves at all costs but that's not particularly because Bitcoin is a better store of value (if at all). I'm more inclined to think that our saving behavior is rather warranted by future profits that Bitcoin is capable of providing. In other words, we don't think of Bitcoin as money (which we should spend) but rather as a profit-generating asset. No one in his sane mind would waste their assets thereby losing future profits (only in cases of extreme emergency)

Yes, that is the case, money is printed continuously without any limit on the maximum amount of printing, it is different with bitcoin which already has rules from the start that the bitcoin is limited in number, from time to time the number of bitcoins decreases until there is no bitcoin that can be created. This of course will be very potential if we choose bitcoin for us to invest in the long term.

It helps as a store of wealth, not as a currency. Say you had $50,000 in US dollar bills and $50,000 worth of bitcoin. Which would you spend first? the dollar bills of course. The bitcoin will be kept back for emergencies as it stores it's value better.

We are finally realizing this because we do not have a good option back then, but now that we had cryptocurrency and decentralization, we have realized we are in bondage to this paper money and they control us because we have no better option, finally we are freed from this bondage.

So how can a cryptocurrency like bitcoin help in making economy and life of people better? Fiat, whatever the reasons, is still convenience to use these days and it is still the main chrrency that drives every nation's economy. Fiat and banks will continue to exist as long as the people need it will take time before cryptocurrency will eventually replace it.

They collect money from customers and make much money from it while offering less interest to them. I don't know whether to say that knowledge is the most important thing and that's why they (banks) can make much money, or to say that they are garbage because fooling people anytime.

In order to save banks, laws allow states to seize citizens' accounts as a last resort and their gold too, after ripping off companies and the riches (but as they have already gone long ago where taxes are more friendly). If there is something that could "reset" it's not the financial system but our pockets. Not really different from bank hold-ups. Your money is stolen by force and one has nothing to say.

The money is based on credits granted by large banks. And, for example, in the United States, the FED prints dollars and exchanges them for treasury bonds to the government, in other words, the money is based on the American debt. The more banknotes printed by the FED, the more debt the citizen has.

Makes me really wonder if central banks actually know how much money they have in circulation right now. If you print money left and right for decades now, I am sure that a few hundred billion or perhaps a trillion is floating somewhere in the world banking system under the radar. There is zero transparency which allows fraudsters aka banksters to prop up the economy with hot air money.

Some legacy investors even praise the federal reserve's ability to print money endlessly, therefore the US economy will never implode. So silly.

It is true, we dedicate our live for paper and nothing more, perhaps it is time to remember what is the reason of living, we should exist for the people around us and not for money or any other valuable asset. It is incredible what banks can make with a piece of paper.

Yups the same blueprint is used every where

We have one authority which prints getting support from the mini influencial companies having a lot of money , then there is one token being distributed all around going to people , but the only thing that is different in Bitcoins is , everything is true here but there is no intervention of the main authorities anymore , we can make miners the supporting authorities, at the end one token exists, be it money or cryptocurrency all have the same blueprint.

No one actually knows on what basis those central banks were printing the money,if they are maintainig right money to be printed then why inflation keeps increasing every year?

This is actually like a toy money but said to have value and the whole world is trusting it and running behind it to get it.

I think the fact is that fiat doesn't have to be backed by anything, it could literally backed by the governments and not the federal reserves. "Federal" reserve is literally a private bank that is getting its power by the government and it doesn't matter which president or which party is in power because they all control the federal reserve the same way and not differently, by using it to empower their nation over other nations regardless of what happens to the citizens of their country.

If one dollar is one dollar and backed by USA government than you can trust it more than you trust gold because believe me if there is one thing usa cares about more than spending trillions on useless wars that is their power over all other countries and they won't let that go for some non backed paper for sure.

Hey dude, every central bank in every country cannot print banknotes whatever they want, they have an audit institution and if they are printing freely they will certainly result in their money being worthless, so circulation of the money will be maintained by the central bank in every country to maintain the value of the currency.
but the world financial system is fooling us. money is only likened by paper which is valued by that country, and at any time can be worthless

I'm not saying there is no union between banks and governments. I'm saying there is no conspiracy against working people.


You can call the capitalist economy a ponzi scheme, a pyramid or whatever, and you may be right in a way, but this is the best economic system we've got so far. And criticizing it all the time, putting FUD in people's minds is a nonconstructive thing to do, I would say. Invent something better, write a book about it, or explain it on youtube, and maybe you'll become a new Adam Smith or a new Karl Marx(we don't need the old one since his theories don't work in practice), or maybe you'll propose an entirely different economic system which will suit the modern time better than all the others. ... And of course, having no good alternatives in mind you can still berate the existing system, because we have freedom of speech. But I think it is non-constructive.

What do you mean by that?

Federal reserve notes replaced "true" dollars in 1930's, and while technically those old dollars should still be accepted (I'm not 100% certain, so bear with me), their real value by far exceeds their nominal value now, so you are unlikely to ever see these dollars in circulation again. Apart from that, as a rule thumb, you shouldn't store your savings in fiat, be it American or whatever dollars or not dollars at all

Does this mean we should be watchful on our Fiat money which we are using everyday?

physically, FIAT currency is indeed worthless and as if it would be very easy to be made as good as possible for certain personal or group interests, but currency printing is regulated by the government so that it will be very strict and not carelessly people can print money without the country's government permission .

You'd be right if it weren't for one slight detail: central banks is where the union between banks and governments happens.

If banks were totally isolated from government you'd be right. But they aren't.

The chiefs of monetary policy (printing money) in the world's largest economies are....private bankers! The Fed is mixed, totally independent and almost private but subject to US Congress oversight.  Anyway, Congress will never mess with the Fed.

The fact that the world is sitting on hundreds of trillions of dollars in debt that will never get paid should have been dealt with by Congress. It's a threat to the US itself if its currency becomes a joke. But nobody ever reigned the bankers in, quite the contrary, when the bankers destroyed the system, the government bailed them out.

The central banking system is a ponzi which feeds on newer generations. Young blood is needed to keep the pyramid going.

Kiyosaki is a con artist

And his wealth comes not from his supposed real estate investments and operations (which no one knows about, just in case) but rather through his books and seminars of very dubious value. That wouldn't be an issue and big deal in itself if they really helped anyone to become rich but so far it looks more like they are mostly helping him, financially. As someone ironically noted, his books contain "much wrong advice, much bad advice, some dangerous advice, and virtually no good advice". So be careful what and whose books you read as something may stick after all

There is no conspiracy of the kind you've mentioned. Banks and governments are not united in some kind of struggle against working people, but rather those institutions are competing with each other, and they are more like enemies to one another than friends. It's just the capitalist economic system works this way, and we have nothing better yet, so we have to endure it.

Regarding Robert Kiyosaki, it's funny you've mentioned him in this context, because he is the rich. If anything, I would blame him in attempts to keep the slaves stupid, because, being educated himself, he published his book, If You Want to Be Rich and Happy, Don’t Go To School, encouraging parents not to send their children to college and make them enter the real estate business instead.

I think cryptocurrency will solve the issue, but I don't know exactly how it could help the financial in the country. As you said, only time will tell, and maybe the government will try to use cryptocurrency in one sector first so they can see how good the results. And if the cryptocurrency can solve the issue, then I think they can apply to another sector. But that still too far to see it will happen.

We are living in a ponzi scheme society and there is no way to avoid this reality. We may try to avoid the devaluation of our money by exchaging fiat into properties, but then we will have to pay a lot of taxes, what will also "eat" our invested money.
On the long run there are serious chances of depreciation in our properties investments too, considering the money we have to have to maintain it. Is crypto currency a solution for this issue? Only time will tell.

It is really sad that we are been manipulated and the banks and our governments Conspire against us.  I started to read a book written by Robert T.  Kiyosaki recently and the tittle is "Conspiracy of the rich" it is from this book that I began to understand how the money we are working for the whole of our life is been channel to enrich the rich.  This rich men control almost all the central bank of the world and they can easily print money as they want and that is the same money we workhard to get.

but one thing must be understood is that we live under their rules. of course we will not be able to break it because there must be sanctions that must be borne. hopefully with the adoption of many governments who are aware that there is no commotion

This is the right answer. It tends to be countries like Zimbabwe, Venezuela etc which are most interested in bitcoin as a store of value (as opposed to a token that you can buy stuff with).

The only groups interested in bitcoin as a way to move money (payment processing) are the remittence providers.

We are just a puppet of the government before but the system is changing now, we are the boss. We all just become unaware of what is happen around if we didn't care of our future but we are, and we don't to go along with the flows.
If we all through into blockchain technology maybe they couldn't do it again.   

It looks like you do understand how it works, huh?

What can go wrong? Well, many of things. But, paraphrasing Winston Churchill's words on democracy, capitalism is the worst economic system, except for all the others.

Maybe someday in the future, we'll come up with a better solution, by virtue of blockchain technology, for example. But for now we are bound to use this economic system for lack of anything better.

Let them print 20 trillion dollars to wipe out their debt. The only useful currency will be one backed by software and mathematics. Bitcoin will be a global currency soon enough

We become unaware puppets of governments and banks, adjusting to the inflation and deflation which they make whenever they want. That is our role in this economy as common people. Inflation is good at the onset but hyperinflation is another story. Soon, if this trend of printing continues, households will have more cash to spend on goods, rendering money worthless.

the government is working on this. the more people who save in the bank, of course, is a positive thing for banks to play money from customers. and this is not in accordance with the profits they get, because bank interest is still consumed by inflation

They really just have no other options but to trust banks you know. The effect of inflation doesn't just affect the interest on loans but also those necessary commodity.

I think not manu people in the world know about that so we shouldn't expect too much since money is what makes everything in this world work.

That has been the case for decades already. It's called inflation. I found it quite hilarious how the ECB admitted that they can freely create money to buy assets, which basically means anything they want.

In times where Bitcoin is digging into mainstream adoption you would expect them to be more careful about their choice of words, but it seems that they still don't get why Bitcoin exists.

I wonder if central banks actually know how many of their fiat they pumped in circulation throughout the last couple of decades. At one point you expect them to no longer have accurate figures about how badly inflated their currency is.

Well people need money for anything, to buy clothes, food, or any other thing and yes, governments and banks can print as much money they want if they need, but if they drop them on market can destroy and economy over time.

Investments in anything outside of fiat is the only option to beat inflation. That's why "rich" people are rich, they invest in things that can make them money. It also helps them retain purchasing power and, by extension, wealth. You'd be challenged to find a billionaire who actually has close to a billion dollars in liquid fiat.

Casual reminder that the "federal" bank in the United States is a privately owned company where no-one but actual shareowners are sure of who has partial ownership of the company.

The monopoly on force is what makes a government a government, and being able to freeze accounts is essentially something done to retain that monopoly. It all comes down to the capacity of the government to commit violence.

You are definitely correct on that mate, We don't any benefits from the bank actually, they are just using our money for them to have profit to their company. Then in the long run, they can able to freeze your account if you didn't comply their requirements for you, on which is always happened to their clients users.

Every country have their own central banks but every country have their own money on the US Federal reserve. Fiat money is just a physical money where you can cut anytime, and that’s the advantage of every government where they can really manipulate inflation. If you want to beat inflation then investment is the option.

I only read about how our modern financial system works after I was 30 years old.

I couldn't have imagined that our system was so childish.

We see 400 page books trying to explain wealth inequality when all you need to do is understand how money is printed to see why wealth will continue to build up in the financial sector in a 100 to 1 proportion to everyone else.

The reason? They print money for themselves! Well, Duh!

Banks went bankrupt in 2008 so they printed money for themselves. Nice eh?

If you did this in any kind of board game, it'd be called cheating. If you're the treasurer in a Monopoly game and you steal money, everyone will call you out.

But people don't call out the obvious scam in the real world. Why? Because the elephant is so immense nobody has the courage to.

These people printed over U$ 300 trillion in nonexistent value (debt that will never get paid, ever).

You work 9 to 5 for some of this money. They just print money. Bankers don't need to be concerned about weekend money, they just print a billion dollars out of thin air if they need to.

Wow the replies of this thread are even more interesting than the original post. I have never been so aware of the inflation as ai am now in my adult hood, but yeah i prefer saving my money in crypto, at least $100 fiat monthly i started in the depresion of the last year and right now everything looks greener, i think it was a good time for doing so.

Since we're on the issue of promises, just also remember, every time you are investing in some new token or coin, every time you deposit your Bitcoin with some Wall Street setup promising you interest payments, or when you store your bitcoin in some vault to protect it, every time you leave your coins on an exchange... You're basically signing over your bitcoin in return for "Trust me, I'll take care of your money".

So don't get too smug telling people you've ditched fiat for bitcoin... Until you're sure you own your bitcoin.

SAAAAD. And there's nothing we can do about it but play along. Our savings are sure to decrease no matter what. We can try to invest them but there's no escaping the effect of that inflation.

I'm not American but I'm just curious, do other countries have the same relationship as the US with the Feds? It seems to me most countries have cental banks that are government agencies.

That's because inflation rates are below the tolerance level of most people

If these rates are in the range of 2-3 percent annually, people will continue to keep their money in banks as the convenience of banks exceeds the negative effects of inflation. Also, I'm not sure what you mean by us not moving. Do you refer to crypto here? If you do, then even the volatility of Bitcoin exceeds inflation rates in most countries, so it is actually a question of not sitting on your hands but doing something to beat inflation (read, riding this volatility to your advantage)

Your money will have less price for the future how ever you keep and save it in the bank because all or your needed will be on higher price, only way how to make your money have higher price if keep invest it in bitcoin or altcoin.

right, a lot of investment can be chosen, I think the type of investment can be chosen according to the level of risk, for example we are currently matching investment in crypto, of course we must know the risks that must be faced, but if it is not suitable, then it can choose property investment that has more risk low

Indeed, whether we hate it or not if we are not moving we can't earn more money that can beat inflation. Multiplying your money is the only way to beat it, and the government don't want that thing to happen as well for so many reasons. We are dealing with the inflation ever since and yet many people are still not learned from it they keep on saving money in the banks which makes them more poor because of inflation. Work with your investments now, it can be a great move to beat inflation.

Inflation wouldn't be a big deal if the rate were very low and predictable. The biggest problem is our money is constantly being heavily devalued without public awareness, discussion, or permission. People are lead to believe inflation is slow and steady but it's quickly outpaced wage growth over the past couple decades. Wages have completely stagnated despite massive growth in the financial markets; this is Wall Street and their global equivalents leeching off our backs. In the last 10-15 years I've watched the rents around me more than double and the cost of food nearly that, but most people I know are living on marginal raises, if any. Pay is getting worse and worse in the gig economy too; Uber/Lyft and those kinds of companies keep slashing pay.

This can't go on forever.....people making less and less money that's worth less and less value everyday. Something's got to give. We've entered a new stage where each generation will probably be worse off economically than the previous.

The ECB has spent 2.6 trillion euros ($3 trillion) over almost four years, buying up mostly government but also corporate debt, asset-backed securities and covered bonds — at a pace of 1.3 million euros a minute. That equates to roughly 7,600 euros for every person in the currency bloc.

https://www.reuters.com/article/us-eurozone-ecb-qe/the-life-and-times-of-ecb-quantitative-easing-2015-18-idUSKBN1OB1SM


So if you live in Europe then your bankbook should have grown with 7,600 euros compared to 4 years ago. if that didn't happen, then your wealth will have been deflated by ECB. But missing wealth grow are just a small part of the problem for most people, the inflations on food and every other daily expense have grown with up to 10% or more in the last 4 years, but ECB keeps claiming that the inflations are around 1,6% a year.

Do you guys hate inflation? because for me it's okay for as long you are not lazy and sitting your ass all day long.

Inflation is a part of civilization of any country in the world and if you hate it then you are just stressing yourself because at the end of the day you can't control it so instead of complaining go find a way to make more money and besides the population growth of mankind on earth never stops, if you hate inflation then live on a desert island.

actually the world economy is not. a monopoly game that you imagine. because we live in this world is temporary. yes we have to do something positive that we think is good. if for the world economy, of course we must live it with positive thinking. don't do things that are out of bounds.

I think you are greatly exaggerating things here as only a minor proportion of the world population gets paid in that little green token (just as friendly a reminder to put things in their true perspective). Indeed, that is not your point (let me guess), but forgetting this simple fact makes your whole claim somewhat dubious and suspicious (or even chauvinistic, to a degree). Sorry, but the world doesn't revolve around America, though everyone loves the American dollar

Other than us, of course, who love Bitcoin more than the dollar

Sometimes i have a feeling that the economy from the real world is kind of monopoly game, only that there is always the same winners.

Awts..watch your words bro:( yeah govery can't stop printing money that's we are here to on crypto currency right...cryptooney also need a print money...you can buy fishball or Street foods using crypto? Of course NOT..so print money or fiat money and crypto currency is always accompany 😋☺️☺️☺️

I agree with first post regarding dollar having no backing at all but I am not really seeing the point at the second post about the 31 million dollars. If we are going to argue about the fact that dollar is printed out of thin air you are certainly right and it has no backing aside from the government.

If you trust the USA government and the US Banks than you use dollar but know that globally it is starting to lose value, china even sells his USA debt papers for less than what they are worth because they want to get their money now and not later so they are selling at 60 cents per dollar rate and others who buy that are just buying it because they know in the future some day they can get one dollar for it.

Nonetheless, that 31 million is another topic, its the CEO of a huge company, even though the company is shady and one of the reasons why we are in this economic mess but what would you expect him to get 50k a year for being the CEO of JP Morgan?

Printing money will make the value of the dollar fall and that is a good time for us to buy more stocks. to keep the value of fiat money, that's the only way or we can buy electronic or gold money. There are many ways to increase profits.

Time for us to make this world more transparent, and we know crypto can make it possible.
Bankers will print if they are corrupt and enjoy the money that is already not in the circulation.

I saw a movie where money are shredded when it becomes an old bill, but there is no transparency on it, unlike in tokens or coins
that we can see in the blockchain in case devs will decide to burn it.


Sharing the movie title where you can see a scenario about money being shredded

Den of Thieves

THE HURRICANE HEIST

if you think about it, that's the way it is. where money is printed by the bank, the people work hard to get it, and the money earned will eventually end up in the bank again when used for economic needs. this is how the country will continue to carry out its activities. is it time to switch to crypto? I think so...

Banks are backed up by the government that's why they can easily control your funds and sometimes without further notice and that's it you lost your own money. They need us to work hard for them, it's the newest way of slavery from history to let us work for them.

What about hybrid money with combining the advantages of both?
Only small percentage of world know about bitcoin and cryptocurrencies. Mass adoption is key for this purpose and there is no other solutions unfortunately. It looks like the odds stacked in favour of cryptoless alternatives.

Fiat is still an important part of our economy, I feel cryptocurrency is here to cause a revolution in the world economy, several, Bankers feel cryptocurrency is here to take over the control of the world economy from there sector, O ver time this will be resolve as technology relevancy will prevail.

Thank you for the reminder, I know banks are corrupt and as long as we trust them, they will do anything to make themselves benefit on the system they created. Bank should be transparent but they are not, they seem to underestimate people and good thing this new system we are using is slowly getting the attention of the people, if we want transparency, blockchain is a good example and real store of value.

The weird part to me was the closeness of milk and gas prices. Do people know how we get gas and we get milk ? You can actually continue to milk the cows forever as long as cows exist and we have new cows every single day in the world which means milk is something that is infinite and can be produced forever. However, oil is something we have very little of and will only have for a while before we run out of it and that is why people are moving towards clean energy instead.

I would assume the amount of milk we could buy could potentially stay the same but apparently it went down as much as the other stuff as well. Inflation is just ONE way rich folk steal from the poor. When you have investments then you try to out pace the inflation and get richer, when you work for salary and have no investment you hope your salary is increasing faster than inflation which it never does.

I do not understand the statement that you made, because I did not really understand about the system of issuing money as well as the banking system. But reading the topic title you made seems to mean well. Looking at the facts now FIAT seems to be the first priority in the list of human life activities. Nearly 99% of human activities are shared with FIAT, even for defecation outside our homes we have to spend money.

even though I hate it, but I guess you really need fiat, and you don't have enough energy to change it. we live in the country, the rules must be followed, use crypto in its place and you will be happy

If you hate FIAT so much then try to use crypto now as to pay for everything you need. We don't have to hate FIAT just because we use crypto.

I'm not totally against in your opinion but this link I've provided have many reasons and why most of us don't easily trust investing money in a bank.  https://www.thebalance.com/bank-failures-315791

Exactly, fiat is no longer a good option for investment, the inflation rate is getting higher and higher each year, and the bankers could print out they money if they think it's necessary, so we need to find other option to preserve our wealth, each year the value of the fiat is sliding down, maybe crypto, real estate or gold will be a better option

That's my position too. I'm skeptical of the long term viability of fiat money, and I also know if USD were to collapse, the economic fallout would be catastrophic. It's good to hedge against that possibility by diversifying into sound money assets, but it's also good to realize that basically everyone is screwed in that kind of collapse, just to varying degrees. There is no perfect hedge.

In the meantime, dirty fiat money is what everyone else wants, so good luck to anyone trying to escape it.

As long as other people accept it for the things I require to stay alive it's absolutely fine with me.

If you need to preserve your wealth there are many options available beyond it. Hopefully crypto will become one of those go to choices for the many in time.

Well the faint paper money is not just a tool in the hands of the bankers but a security holding and also a legal tender because the authority bank it up, despite the fact that we are promoting digital currency we most also not fail to acknowledge the place of the legal currency and as the traditional currency.

Rich people just getting richer. And the point is that the low-class citizens are going to pay for their earnings. Capitalism is a vicious cycle that can't help low and middle classes. Instead, they print money to serve bailouts in order to save their own ponzi system.

Today all fiat money are one big ponzi, not only the Dollar. And the game will continue until there is some level of trust in the country behind the note.
It will be a pure disaster afterwards and I suggest you to read "The Sovereign Individual: How to Survive and Thrive During the Collapse of the Welfare State" for just in case.

It may be hard to accept but the use of fiat currencies are invaluable and no matter its bad sides it's what keeps our nations running,its what boosts the economy and is the acceptable medium of exchange in our various countries,for now bitcoins is a long,long way away from being a medium of exchange mostly due to its volatility and the unwillingness of its users to adopt it based in that particular use case,they mostly prefer it for"buy and hodl" which is wrong

People are more educated now since the invention of cryptocurrency and maybe in the future we will just fiat money on our some transactions. The inflation kills the value of money, and the Government can print anytime they one this is a clear manipulation just to make window dressing for some country but in reality they are reach enough to stop poverty and yet, they are not making any move seriously.

Reminder is don't trust the banks because they want us to trust them but they are not going to make any benefits for us in the long term they just used as a tool to make money for them. How long we are going to work for this paper printed by them wake up guys more for decentralization and get real money.

We have seen in 2008, what happens when Banks mess with money supply and it nearly caused a global economic collapse. Fractional Reserve Banking also created money from thin air and that is what governments are doing with their toilet paper money.

We only need to look at Zimbabwe as an example of what can go wrong, if politicians continue on their self-destruction behavior to print more money. We are once again looking down the barrel of the gun and the politicians have their finger on the trigger.  

Governments (and even our creator or God) are always careful on making us active and hard working. This is a balanced world and it should be working how it is already being. I am not against communism nor socialism but I support; work hard for food.

If everyone is able to mint gold in their bedroom then why an Uber driver will pick you up by 12 AM mid night in an airport or why should I be writing here by scratching my lazy-poor mind ? We are all working hard for a balanced world. Your money is not meant for holding. It is designed to spend on everyday's needs. Governments want a cyclic movements involving working hard and get rewarding. Hard workers are able to get money and save money. Your savings may buy you some deflationary things like properties/bullion and in modern era bitcoin. Only these things will gain value over time and it does not mean lazy people are making easy money. They got brain to invest into them and finding reward for holding them. Still, a balanced system.

Imagine, if your government prints money and gives all the people in your city each $1000/$2000 which is enough for a luxury life for a month and they promise for same money for every month. Will you get your milk pocket delivered on your door step there after ? Your street corner super market will be shut down as its owner plans for a long vacation.

Someone or something is needed to make all of us to run after something so that everyone in this world will be busy (for not disturbing others ) hence the system will remain intact. Government is taking care of that "needed thing". They got power hence they are influencing in making this world to be balanced, it is being done through printing money as of now.

the government holds the main role, so that as citizens we must obey the rules that have been made by the government. and fiat currency has been recognized throughout the country so we must use it

but inevitably, the economy cannot run without a medium of exchange, and now the legal exchange rate in all countries in the world is paper money. so we can't refuse it.

It's a ponzi. Inflation is part of the system design.





You can ride it until it blows up.

When will it collapse? As soon as growth is no longer exponential.

Like every ponzi scheme, it requires exponential growth of the user base in order to stay afloat. When production and/or human births and workforce no longer grow exponentially, the collapse is inevitable.

They can't print more money to pump the markets unless there's more people (slave workforce) to keep the system running.

I'm not complaining! Bull markets are much easier to ride. Just buy every dip, then proceed to roll stop losses higher and higher into profit. The post-2008 stock market has been an endless gravy train.


I don't doubt what you're saying, but I've also been hearing it for decades now. When will it actually collapse?

At the same time, not all residents in different countries directly depend on dollars and not all national money of states is inseparably dependent on the dollar. A dollar is not all paper money. Unlike the dollar, the national money of other countries depends on the gross income of a country and its gold and foreign currency reserves. The dollar is really now a piece of paper that you can print as much as you like, because it does not depend on the US economy. However, the dollar is an exception, it does not characterize the cash of the states since 1970. Since it does not interact with the US economy, it is difficult to call him money in this regard, although it performs the function of money.

The FED and their buddies are printing money again!! Guess what the stock markets do when the FED prints money!! You get magical stock market bull runs! Print money, buy stocks, stocks go up. What can go wrong?!



Duh! You can't stop printing money in a ponzi scheme, stupid!

The Bank notes issued by central bank is Promissory note issued by the issuing bank to pay the bearer on demand.  The credibility of the issued note not only backed by the issuing bank but it's credibility also backed by the government of that country. 
So the value of the note is not just a peace of paper but goodwill of the government of the country.

By the way, how many of you made U$ 31 million last year?

https://www.businessinsider.com/jpmorgan-ceo-jamie-dimon-just-got-a-31-million-salary-2019-1

...that your everyday money is toy money printed by bankers, for bankers.

Your entire professional existence revolves around getting paid in a little green token that bankers can print for themselves freely.