Socialism

[GloryofGreece]

Whatever comes after Federal Reserve Notes.

Nobody knows what that will be, and neither do I; except I'm pretty sure is will be real and not fiat issued by some gang. This is what concerns me most about crypto, but I don't know shit about the tech, so what good is my take on that?

How is currency based off something "real"? Its always imaginary to one degree or another, no?

[The Conservative]

Yes, it’s value is completely unaffected by the number in existence AS PROVEN BY MONEY CREATED THROUGH DEBT.

Then why is real purchasing power declining?

??? My iPhone, car, TV, even my lawnmower deliver much more value for my dollars. Even staples like food have gone down in price: selection, availability, quality are well worth it.

Housing is an example of consumption > production.

Some food has done down, but with inflation and using food as a fuel source, not all have gone down equally. Some have increased due to costs of food/fuel dependencies.

[Fife]

Whatever comes after Federal Reserve Notes.

Nobody knows what that will be, and neither do I; except I'm pretty sure is will be real and not fiat issued by some gang. This is what concerns me most about crypto, but I don't know shit about the tech, so what good is my take on that?

How is currency based off something "real"? Its always imaginary to one degree or another, no?

Not currency -- money. Not the same thing.

Check out this quick intro from Rothbard:

https://mises.org/wire/rothbard-essenti ... -inflation

[Martin Hash]

"And in this corner... We have the people who want to concentrate wealth."

[Speaker to Animals]

What do you think happens when the Fed prints billions of dollars and hands it all over to their bankster friends? Progressive utopia?

[Speaker to Animals]

Whatever comes after Federal Reserve Notes.

Nobody knows what that will be, and neither do I; except I'm pretty sure is will be real and not fiat issued by some gang. This is what concerns me most about crypto, but I don't know shit about the tech, so what good is my take on that?

How is currency based off something "real"? Its always imaginary to one degree or another, no?

Real money comes naturally out of a barter system as some universally valued good that becomes a stand-in for all trades.

In early Appalachia, for instance, they had poor access to a sufficient supply of gold and silver coinage. So the natural economic result was that some other good (in this case whiskey) became the money supply.

Which is a good historical example of how this works, as well as how federal grifters will literally do anything, including fomenting a civil war, in order to make their currency king.

[C-Mag]

Whatever comes after Federal Reserve Notes.

Nobody knows what that will be, and neither do I; except I'm pretty sure is will be real and not fiat issued by some gang. This is what concerns me most about crypto, but I don't know shit about the tech, so what good is my take on that?

How is currency based off something "real"? Its always imaginary to one degree or another, no?

Not currency -- money. Not the same thing.

Check out this quick intro from Rothbard:

https://mises.org/wire/rothbard-essenti ... -inflation

I'll check that out later.

Was it Rothbard who said to think about wages money and value of goods as the amount of time it takes to earn enough money to buy a product.

For instance a new pair of boots coats $200, you earn $10 per hour. Are the boots worth working one long day for.

[Speaker to Animals]

In Mesoamerica, I think it was cocoa beans that became a currency (though I might be mistaken).

[Speaker to Animals]

If you want an ancient example of a more socialized economy, read up on the Incan empire. No money. Not even large markets, I think. Everything was planned. The government taxed with labor taxes, and then distributed the goods (mostly food and infrastructure) from the labor tax.

[brewster]

Here's some dated data about what and where money is.

https://www.frbsf.org/education/publica ... unterfeit/

M1 is currently $3.78 trillion, M2 $14,45 trillion. Https://www.federalreserve.gov/releases ... efault.htm

According to this, virtual money outweighs cash by >10:1. Actual printing is a drop in the ocean, the fed could probably print $1T and it not affect the value, since the vast majority of it will go under mattresses or circulate among drug dealers in the rest of the world.