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10. Re: Evening Metaverse Mar 12, 2014, 15:46 LittleMe
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.

Avatar 23321
Perpetual debt is slavery.
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