Topic: Paper Money - The Greatest Scam - page 8. (Read 20780 times)

Great post. I totally agree with the author. Central banks print money unsecured. People are constantly being robbed. But the strangest thing is that the government is not interested in people being financially literate. Children are not given financial education in schools.

It does not originate as a scam but it soon becomes one when paper can be exchanged for nothing.  Its a failure in the checks and balances that goes between democracy and capitalism, nobody can challenge the central authority of government or risks being seen as an enemy.   Especially when the system appears to favour all, the only discrepancy is the avalanche of debt piled up on the hillsides that surround the civilisation we have built on that FIAT system.   To call into question that possible failure is seen as provoking and even the cause of the failure itself

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The first paper in the west came from gold smiths issuing notes for their stock.    At first this paper might have been 1:1 in line with gold the goldsmith operated with but soon it became that more notes were issued then actual gold available.    It works so long as not all paper holders require their value returned to them, it also explains now why its such a problem for government to ever run a surplus and reduce its debt.   Instead each bit of paper becomes worth less with increasingly distant the prospect of ever getting back true value on a common workers days wages.   The end game is alternative systems are more worthwhile, trading, bartering, crypto is viable if convenient fast and cheap to use but ultimately people want that gold or the food it buys, whatever value is fair for their days work.   People control economys and their direction always

I agree with this man, we have been scammed a long time, let's do something!!

I am always happy to join some crazy anti-gov movements!

Oh better I go to the moon? I saw some cheap slots there last summer!

Is it a crime to say it to the government that we don't want the paper money anymore? At a time in my country, we learnt that it cost more than a certain paper money lower denomination to mint it, something like spending over a dollar to mint a dollar. How reasonable is that? Government doesn't want freedom for you.

please refer to Ancient Chinese paper money history, the ultimate scam done by Imperial courts.

I did have my understanding and mindset change some few years ago when I heard a sermon  as regards paper money. It is not the real value of a thing but just a ledger tender! It is only an acceptable means of exchange and should not be strived at getting but strive to get value and money of different worth can get to you.

Since this thread is under "Economy", i gona say this: it's all about supply vs demand; demand vs supply.

I don't think the intent of paper money creation was to scam. Imagine yourself having to transport XXXkg of coinage vs transporting XX pieces of paper with equivalent value of XXXkg of coinage, or gold ingots even... paper is definitely easier to transport.

Well, since its easier to transport, its also easier to be abused. From ancient time till now... at every age and transition.... there always are people groups or institutions who will use whatever medium of exchange to exercise their greedy intent.

Banks... however... aren't just what you can see. The more scary thing is the person behind these 3 banks. (You know who they are)

Nevetheless... what I would do as an individual... its to understand how crypto can influence the majority, and act on what i deserve more as a person who can control my own financial well being.

That's more important.

Side note... the word "Bankrupt" came from the word root word "Bank" i believe. ☺

Yes, it is there especially with new coins in forms like price manipulation. There are some other problems like uneven price movement of crypto and so on. But there is solution to it as well like we can have some sort of regulation. If we compare crypto and cash based on transparency alone, crypto is miles ahead. Everything is recorded digitally forever.

Well, it is one thing of course to have in mind that not everyone will actually get to be able to utilize crypto as they will find it a whole lot difficult when it comes to understanding how things are done within the space as well as how they can handle themselves.

Nonetheless, it is always a matter of time, and even though the fiat system cannot completely be ruled out, one way or the other, over time, paper currency will most definitely go into extinction and then as we are already seeing the age of cashless, it will even make the ushering in of blockchain technology at large within the financial sector to even make a lot of sense.

Whatever, but you don’t have to carry money everywhere you’re going these days. Technology is everywhere and you can easily send and receive money from anywhere. Bitcoin is neither a good option, and there are also scammers in bitcoin.

Another thing that makes Bitcoin seem worst is the fact that it is volatile. So the best thing is to combine these two and have both fiat and cryptocurrency. That’s the best thing you can do.

One thing a lot of people usually find a lot hard to blend in with is change and we have seen it quite some number of time and most especially when it comes to less developed countries. However, with the way things are going, I believe cryptocurrency is gradually filling some of the spots and really helping in a way that paper currency can never be able to help and most especially not just paper currency but the fiat system at large.

It is obvious to a lot of us that cryptocurrency is a whole lot useful and when we really want to look at the history of paper currency and now, we all know it has always been the biggest scam of all, just that the government are always so good at covering it up since transparency is not even a thing anyway.

free from inflation, but not free from high volatile levels
I think both of them can coexist as a complement and provide a broad choice of payment methods

Originally paper money is only a representative of gold but bank is "cheating" now, I don't say that bitcoin is the best currency to end enslavery mankind but it's the quick way to escape from the system, but we should to own gold as our investment. Gold also can provide us the financial freedom.

Very correct, the biggest advantage of cryptocurrency is that the value of the coin is determined by the owner without fear of inflation. But after the huge success of the cryptocurrency, the world may be turbulent. Capitalism has basically no future, but it does fit the people of today.

Main cryptocurrencies are no longer free from inflation. They are more vulnerable than fiat in this current state.
Better we create something new and stubbornly stick with its principles.

crypto is still a small pebble in the world of transactions, and in fact paper currency is still recognized throughout the world, and the world accepts it. and of course evolution will occur even though it takes a long time

Almost all people know that paper money is the number one prone of scam this is directly available even without black and white transaction security. that's our daily used when we go anywhere money is important all the time but the risky for being money handler is always around. that's some people are split to to use it and willing to use bitcoin crypto currency. aside from fastest way of transaction many good benefits when we use of bitcoin.   

The 'paper money' that you say is a scam is still probably the most widely accepted form of currency worldwide. Scam or not, I can buy real world products with it. I have no doubt that crypto will have a huge influence, especially with international payments, but 'paper money' will be around for a while yet.

To paper money, humanity in its development went very long and they became the crown of financial relations in society. It would be wrong to say that paper money is a fraud. Paper money in a normal state is issued at a total denomination of the size of the country's national material wealth. They reflect the state of the economy of each state. So far there is no more perfect way of financial relations in society than the use of paper money and their cashless payment method.

Paper money is not created out of thin air but has its value. On good paper money should be provided with gold and foreign exchange reserves of the country. Inflation in our world is not the worst option in development, as deflation can become an even worse situation.
Bitcoin is free from inflation Yes but its volatility is still too high and you will also lose your money if the price of bitcoin will change so much in a short time.