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11. Re: Evening Metaverse Mar 12, 2014, 16:31 Beamer
 
LittleMe wrote on Mar 12, 2014, 15:46:
Beamer wrote on Mar 12, 2014, 02:32:
LittleMe wrote on Mar 12, 2014, 00:48:
Beamer wrote on Mar 6, 2014, 10:12:
And someone has some control over the ebb and flow of the dollar, which is actually a good thing.

They manipulate the dollar to benefit themselves (central banks) and benefit the political elite while robbing the populace through perpetual debt and inflation. Banks get bailouts despite their own failures and we get shafted to pay for it.


You realize your first sentence and your second sentence have nothing to do with each other, right? Even if we were solely on bitcoins, those banks could still have been bailed out.

The two sentences are related. I'll explain it for you. Controlling the ebb and flow of money supply (dollars) is done through interest rate manipulation by the Fed. The artificially low interest rates was the determining factor in the real estate housing bubble because it injected a massive amount of speculative money into the system. The eventual collapse of housing bubble is the biggest factor in their action to bailout these institutions.

And you are mistaken. If we were on bitcoins or another similar crypto currency, the bailouts could not have happened because BC's have a predetermined supply and new ones can't be manufactured on a whim. If you disagree then explain how. I know there is some loose governing body that administers BC's but I don't think they can do that, but I could be mistaken. It's a voluntary currency and the market would reject such an action as long as it's voluntary. That's why we are mandated to use Dollars because no one would want them otherwise.


Again, totally unrelated. You're saying that speculation and artificially low interest rates led to the bailout. That's fine. But your next leap does not work. It's like if I was riding a skateboard, fell, went to the hospital, and insurance paid my bill. I can't say "riding my skateboard was the reason insurance paid my bill." Riding my skateboard is the reason I got hurt. Having insurance is the reason they paid my bill. Controlling the ebb and flow is the reason the banks got into trouble. A government supporting them too much is the reason they were bailed out.
Very different things that aren't exclusive to each other.

And jesus, dude. You are so into "crypto-currency" that you fail to see how it would change nothing. The government would have a huge stock pile of it, regardless of what you think. Why? They'd fucking buy it. The government would still be rich. And it would be using that wealth that they'd bail the banks out. They didn't bail the banks out by printing money. They didn't bail them out by manipulating anything. They bailed them out by writing checks. If you replace "dollar" with "dogecoin" you still have a government with a large amount of currency with which to give loans.

Fuck. I hate swearing, but it's mindblowing that people think that this wouldn't occur.
Think harder, man. Think more critically. "Cryptocurrency" doesn't really solve most problems.
 
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