Why Do We Tolerate The Banks Printing Money ? - page 2.

myrkul

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Quote from: Hawker on April 14, 2013, 08:23:56 AM

Quote from: fixxi.net on April 13, 2013, 04:16:10 PM

Why Do We Tolerate The Banks Printing Money ?

Another vid I made.

http://www.youtube.com/watch?v=TzcxCw6BovE

Same reason we tolerate publishers printing books. Its their purpose - take that away and you may as well return to using gold as a currency.

Not a bad idea. And then we could have institutions that hold our gold for us, and keep it safe, in return for a small percentage or the ability to loan some of it out to others, and we could call them Banks.

knight22

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--------------->¿?

Quote from: hashman on April 13, 2013, 05:59:55 PM

I didn't watch the video, but the answer is clear:

because they give some of it to us.

Correction: They LEND it to us through a scammy process

As far as I know I do not tolerate this

Mike Christ

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Quote from: John Self on April 14, 2013, 06:11:02 PM

Because some inflation is good for growth because it encourages the rich to invest their money in businesses- which create jobs. And how else would a national currency be managed?

"Some inflation" =/= printing millions upon millions daily. You could first manage it by allowing competition. Otherwise you're not managing it, you're simply shoving it down everyone's throats.

teodor87

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I agree. Although you have to admit that they're overdoing it and inflation is really high.

The whole fractional system is really risky.

On the other hand the world wouldn't be the same without it. So thats the way it goes.

Fact of the matter is that the older the currency - the more reliable it is - gold and silver were first, then paper, then ni/cu, then bank cards, then online payment methods, and now - cryptocurrency.

John Self

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Because some inflation is good for growth because it encourages the rich to invest their money in businesses- which create jobs. And how else would a national currency be managed?

teodor87

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OK. If you can think of another way - go ahead and do it.
Banks are printing legal tender money for so long that people simply cannot throw it all away.
They're addicted to those money.

Hawker

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Quote from: fixxi.net on April 13, 2013, 04:16:10 PM

Why Do We Tolerate The Banks Printing Money ?

Another vid I made.

http://www.youtube.com/watch?v=TzcxCw6BovE

Same reason we tolerate publishers printing books. Its their purpose - take that away and you may as well return to using gold as a currency.

Mike Christ

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Because we're born with money, and never question its existence as valid. Nobody accepts the dollar because they agree that it is the best currency, they accept it because they know no other alternative, and nobody else around them accepts anything else. We don't realize there is a monopoly on money, and acknowledge the negative effects a monopoly will put on anything; we never come to the conclusion that competing currencies would improve our overall standard of what to accept as tender and who to trust. You cannot force trust, as governments attempt to do.

So we tolerate banks printing money because we tolerate fiat at all. We tolerate one governance. Some of us even tolerate one god. It's funny what a capitalistic society will do, one who advocates competition, but never will when it threatens specific existences.

Operatr

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Quote from: fixxi.net on April 13, 2013, 04:16:10 PM

Why Do We Tolerate The Banks Printing Money ?

Another vid I made.

http://www.youtube.com/watch?v=TzcxCw6BovE

We don't have a choice but to tolerate it. Except move on to something else, maybe some kind of crytographically driven digital system, with instant payments and free to use for everyone on Earth. Oh well, we can keep dreaming Wink

hashman

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I didn't watch the video, but the answer is clear:

because they give some of it to us.

fixxi.net

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Why Do We Tolerate The Banks Printing Money ?

Another vid I made.

http://www.youtube.com/watch?v=TzcxCw6BovE

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