Redpill me on the Federal Reserve.
21 2017-09-03 by healslutthrowaway1
Are cryptocurrencies the best weapon we have against neverending debt?
Why actually is the US in so much debt, and is it more likely that we will pay it off or do you think we will default eventually?
Is it likely that anyone at the Fed creates their own electronic money out of thin air just by typing in whatever number they want? How would we know?
Is bitcoin the answer? Or will that just hurt the US economy even more because it's nearly impossible to tax?
Did they kill JFK? Who is he referring to in this quote: "For we are opposed around the world by a monolithic and ruthless conspiracy that relies primarily on covert means for expanding its sphere of influence--on infiltration instead of invasion, on subversion instead of elections, on intimidation instead of free choice, on guerrillas by night instead of armies by day. It is a system which has conscripted vast human and material resources into the building of a tightly knit, highly efficient machine that combines military, diplomatic, intelligence, economic, scientific and political operations."
Who is the "supreme master leader" from this clip?
Is money a ponzi scheme?
tl;dr: ree.
35 comments
1 Wlcome2theFuture2015 2017-09-03
It isn't federal and has no reserves. It operates for a profit off the American people. Any other questions.
1 TheSeanord17 2017-09-03
No it doesn't. Annually all profits are sent to the U.S. Treasury. Last year they received $92 billion. https://www.wsj.com/articles/federal-reserve-sent-92-billion-in-profit-to-u-s-treasury-in-2016-1484067602
1 Wlcome2theFuture2015 2017-09-03
http://www.npr.org/2016/04/29/476203984/how-managing-money-creates-huge-profits-for-the-federal-reserve
1 TheSeanord17 2017-09-03
Did you read the article? It explains what I previously wrote - the profits go to the U.S. Treasury.
1 Wlcome2theFuture2015 2017-09-03
Every dollar they print for the us govt already has debt associated with it. If that is not fleecing us, I don't know what is
1 HeavyWinter 2017-09-03
You didn't address what he said
1 OVERGROUND7 2017-09-03
You're forgetting the insane profits made by the member banks who get first dibs on the loans at insanely low rates.
1 Nothruthbuttruism 2017-09-03
I think this really strikes at the heart of problem of our fiat system, since prices don't respond immediately to new money being printed, the people who get to spend first get prices before Inflation hits. Really unfair
1 kanye5150 2017-09-03
Minus the 6% guaranteed dividend the owners get. 6% guaranteed in any up or down market is insanely profitable.
1 TheSeanord17 2017-09-03
It's not 6% any more. It's less than 2.5% for larger banks because of recent actions taken by Congress.
1 Nothruthbuttruism 2017-09-03
Hello I'll answer some
It depends on the type of cryptocurrency, which, like ordinary currency, can be bullion or fiat. Bulleon currencies, ones with intrinsic value, is the best way to avoid the never ending debt cycle.
Debt in a fiat reserve currency has be considered as a totally different beast than debt of a non reserve currency nation. If the latter defaults, one could print money, but inflation would eat the value. however if the reserve nation defaults printing the money to square the debt results the inflation being exported to all non reserve currencies. The short answer to why the US has so much debt is because they can, knowing full well non us citizens will work to square the deficit. Challenging the dollar hegemony has been at the root of all 21st century conflict.
It is also of use to point out that, in a fiat system, money is created by creating debt then charging interest on it. So it's a mathematical impossibility to completely pay off the debt, since there's always more debt than credit
Bitcoin is bullion, so it's a step in the right direction. Taxes cause deadweight loss in markets, less taxes generally help economies.
No idea, but it seems the deep state had every incentive to.
Yes, fiat currency is absolutely a ponzi scheme, designed specially to force a society to endenture itself to itself.
1 kanye5150 2017-09-03
Bitcoin is not bullion. It has no tangible value outside of speculation.
1 Nothruthbuttruism 2017-09-03
While tangible value is a good layman's way of approaching bullion, it's actually too strict, all thats needed for a bullion system is a scarce good. Since only 21 million bitcoins will be allowed to ever exist, bitcoins are truely scarce, unlike fiat, which can be produced with less effort than what it took to write this
1 healslutthrowaway1 2017-09-03
I'm looking up the definition of bullion and all it says is that it refers to 99.5+% pure gold or silver
1 Nothruthbuttruism 2017-09-03
Until Satoshi the only bullion system ever used has been in precious metals like gold and silver. However, all you need is a fixed quantity of a scarce good so one can offer commerical paper at a fixed rate to that good. One could decide a bullion system out of meteorites for example
1 Nothruthbuttruism 2017-09-03
That's what makes it perfect, the whole reason the silver standard was dropped by JFK is that silver began having industrial purpose
1 kanye5150 2017-09-03
How is it perfect? Online wallets get hacked, local physical wallets can be stolen, lost, bricked, hacked, etc...it has what seems like endless competitors, the price is very unstable. Bitcoin is far from perfect.
1 Nothruthbuttruism 2017-09-03
Gold can be stolen, dissolved in acid, counterfeited and diluted. Bitcoin is actually less volatile than gold in some time horizons. I said perfect in the context of the model, not real use application
1 chavezcoin 2017-09-03
Yes to everything.
1 Memory_holy_fire 2017-09-03
Gold and silver have been money for all of history. Old habits die hard.
We buy our currency at interest. We then have to pay off this debt with more "borrowed" currency. See a pattern?
Our debt will never be repaid.
1 million seconds equal 11 and 1/2 days. 1 billion seconds equal 31 and 3/4 years. 1 trillion seconds equal 31,710 years.
1 5dreality 2017-09-03
This is false, we can pay down he debt in relatively short time without cutting any spending. Your premise is based off of current US income.
Why not create solutions that will generate more streams of income.
Solar in panels in space... free electricity to sell to the world Nationwide global hyperloop infrastructure Thorium Nuclear Power plants Mining asteroids that could generate trillions of dollars each
If you want to learn more about these solutions feel free to visit here
1 Memory_holy_fire 2017-09-03
What are we paying the debt off with?
1 HeavyWinter 2017-09-03
How do you pay off any debt? That's a dumb question
1 Nothruthbuttruism 2017-09-03
This is false, while all of your things would increase the wealth of the nation leaps and bounds the debt will still be there. This is because in a fiat currency all money is debt, that paper in your pocket is in fact an i.o.u issued by a person who borrowed money at interest
1 5dreality 2017-09-03
there is nothing wrong with fiat money... the government can issue bonds at 0% interest if it controlled its own money supply, as it stands right now, a private banks owns our money supply
1 Nothruthbuttruism 2017-09-03
I'm not going to go and say your wrong, if your refering to nominal rates at zero Friedman would agree with you. but this is an area of contentious debate, with other big fish like Krugman being critical of it do to deflationary pressure and the increased vulnerability to liquidity traps.
I myself seem skeptical since people seem to be careless with cheap money.
Fiat money, where government or private interests dictate interests rates is just to communist for me, always has.
If I'd could choose a monetary system it would be modelled after a Greco-Roman period where gold was used for major investments and property and silver for consumption
1 cholera_or_gonorrhea 2017-09-03
You're my favorite kind of conspiracy theorist. Thanks for posting solutions--it's a rarity around here.
1 Memory_holy_fire 2017-09-03
Would you like to continue our little conversation?
1 healslutthrowaway1 2017-09-03
"Make America the city on a hill once again."
England is my city!
1 AIsuicide 2017-09-03
Search terms...1st Bank of America...2nd Bank of America...Jekyll Island..
1 TheSeanord17 2017-09-03
The U.S. has been in debt since the 1830's. It's not a big deal. It never has to be payed off. It's not like personal debt. It can just be "rolled over" in perpetuity.
That doesn't mean you can let it spiral out of control, but simply always having a debt is not a big deal.
1 kanye5150 2017-09-03
Tell that to Argentina, Greece, etc etc
1 Nothruthbuttruism 2017-09-03
They don't get the benefit of being a reserve currency, in fact Greece doesn't even have a currency of its own
1 socontroversial 2017-09-03
What if the US had 100 trillion in interest payments toward debt every year? When does it get too crazy? No one knows.
1 dwolfe447 2017-09-03
I don't get why JFK didn't just out the "perpetrators" in that speech. Why wait to spill the beans and get killed instead of right then and there
1 healslutthrowaway1 2017-09-03
Maybe he didn't know who was pulling the strings?
1 Wlcome2theFuture2015 2017-09-03
Every dollar they print for the us govt already has debt associated with it. If that is not fleecing us, I don't know what is
1 OVERGROUND7 2017-09-03
You're forgetting the insane profits made by the member banks who get first dibs on the loans at insanely low rates.
1 Nothruthbuttruism 2017-09-03
I think this really strikes at the heart of problem of our fiat system, since prices don't respond immediately to new money being printed, the people who get to spend first get prices before Inflation hits. Really unfair