The Fed

[Martin Hash]

Dead people are no smarter than me. I disagree with Thomas Paine, so unless you’re channeling him, you’ll have to debate me on your own.

“The problem isn’t imaginary money, it’s who’s getting it.” - me

[Martin Hash]

The complaint about imaginary money from the Libertarians seems to be that the aristocracy isn’t getting all of it, even though they get the vast majority. The average household debt is almost $150K; they sure as hell aren’t getting much.

[Fife]

Fiat money should not exist at all. "Who gets it" is an academic exercise, and is no great mystery. Neither is "who pays for it," as our children will woefully find out.

[DBTrek]

Fiat currency rules.

People complaining about it benefit greatly from its implementation and are painfully blind to the luxury it has provided to their lives.

They may as well be bitching about electricity fucking everything up.

[Martin Hash]

I think I’ve finally rolled DB. Fife, my arguments are flawless, let yourself be convinced. I’m way wiser than Ron Paul.

[DBTrek]

Roads. Also awesome.

It’s amazing that nearly every country on earth has both fiat currency and roads. Doesn’t anyone understand how superior a roadless country which ties a dynamic force like human productivity to a static resource like a yellow rock would be? Why will no nation adopt this clearly superior model?

[Martin Hash]

Average dude buys a TV set: he gets $5 worth of raw materials and $5 worth of labor. Aristocrat gets $100 bucks for “investing.” That $100 has to come from somewhere.

[Speaker to Animals]

Not a great example as the profit margins on televisions are famously shitty.

[DBTrek]

In 2019 the user known as Fife founded a new kingdom, Roadless Rock-grubber land. Unfortunately there was no gold ore within its boundaries, so it collapsed into insolvency the next day.

[Martin Hash]

Not a great example as the profit margins on televisions are famously shitty.

On paper. At HP we used to use accounting to hide the true profit. It’s still $5 worth of parts and $5 worth of labor; “overhead” is as imaginary as the money.