@icedquinn I was friends with a tax man. He turned out to be a POS but I can maybe shine some light on their thinking.
They think they are doing a public service. They arent really anti-rich usually or anything like that. But they do think they are making america a better place by doing a necessary service.
@freemo i mean the modern monetary theory literally only taxes to remove inflation from their infinite cash printing, so thinking you are doing anything other than terrorism by being a tax man means you're an unironic retard. :blobcathuh:
@posrev@freemo the theory is if they print 1,000$ to spend on bullshit, that will filter in to the economy eventually. which causes the economic penalties. if you "tax" 1,000$ back out from the poor, the supply in motion doesn't change.
which amounts to a very elaborate reverse robinhood where the state continously issues loans for more money than exists and seizes it to pay off ever increasing debt loads.
Its actually more like a loan to the public, and the amount of money generated is based on an auction that is priced effectively betting on the future value of the american economy.
@icedquinn@blob.cat well it really just depends on whether you prefer direct application of violence (but you’re too much of a wuss for the army), or playing jenga with people’s lives
Yea, thankfully when we learned just how unstable that made our economy we changed it. In fact the great depression was a huge reason to get off the gold standard as it was a large contributing factor
@freemo@posrev :blobcathuh: we changed that because the government went bankrupt (and very significant backroom shenanigans went in to the creation of the Fed, which was widely thought of as a terrible idea)
@freemo@posrev every sound money government ditches gold for one reason: they overspent their shit in trade deficits and endless wars.
every fiat currency fails for the same reason: the government catastrophically implodes and the money has no intrinsic value.
spot price on gold and silver varies but it has remained above zero for a significant period of recorded human history. fiat currencies don't outlive the political implosion. i'm partial to trading actually useful goods as a store of value but nobody asks me.
yea no, not what happened. The fiat being gold-backed was well established as a problem not a boon.. and while yes some people object to the fed and im not saying the fed and the way it structured is a good idea by any means, but not backing money with gold was absolutely the right decision.
Not the federal bank, the fed hadnt existed yet. It was created as part of the solution.
It was a stockmarket crash, and the full details are rather involved, but the gold backing the money was a central part of the problem and removing that fixed it, which is why we have never seen a crash remotely likely it since.
Being above 0, yet wildly varying in buying power is not an indication of success quite the opposite.
Just as fiat money which is demonstratably more stable, usually over long periods of time, and then failing when the government fails is likewise not an indication it was a failure overall. Sure eventually it may fail in the end along with the nation that backs it, but the rest of the time it is wildly more useful than gold due to its stability.
When did I say it cant be fabricated... I said **easily** fabricated... is it easy to get one of those printers? No, in fact only one specific authority in the whole universe has one.
@freemo@posrev not tangential at all. the USA has experienced numerous massive economic crises which are directly associated to financial instrument collapse.
some retard gambled too hard on corn futures and now the entire food sector collapses.
so the solution is ... oddly, pretty much never to maybe stop letting people do that.
Yea and? WE arent discussing stock market crashes or their effect on economies as a whole. We are talking about crashes in economy related to how we back our money. Crashed from other sources like the stock market is another matter.
Both gold and money have utility and are fungible.
The utility of money is being able to transport large amounts of value/wealth with very little weight, and in a way that is tracable. Gold on the other hand is quite heavy but more importantly if stolen is untracable so is also much harder to retrieve and much easier to offload when stolen.
@freemo@posrev > retards cause financial collapse > government steals gold > government then declares currency as fiat if the gold was soooo volatile and useless why did they officially steal it and replace it with the new fiat notes?
:ablobcateyeroll:
> this is gold's fault somehow though and it was morally good
and yet we have never seen a financial collapse like it since... the theory explained it would happen, the theory explained by not backing it with gold, and now it doesnt happen like it used to.
@posrev@freemo@romin that post is trying to sleight of word "money" while forgetting gold certificates came between boullion exchange and the toiletpaper we use now.
there are literally zero advantages to fiat for everyone but controllers. it lets authority spend capital it doesn't have because it takes the populace a comical amount of time to finally correct (hyperinflation.)
the USD is literally just backed by "proof of bombs" as it were.
To pay for a project like hyperloop someone would have to move 740,000 kg of gold to pay for it. Just moving that if it sunk or was stolen would destabalize whole economies. Now imagine projects that cost trillions.
It also would be slow to move, taking upward of a week if its across the globe (with huge risk for theft)
Now compare that to fiat which is mostly digital as you point out. It is nearly complete safe, and moved instantly.
Sure except as we covered last time we tried that we had the great depression (and quite a bit of instability before hand).
Economic theory knew the instability would happen and new fiat would solve it. We moved to fiat and the theory turned out to be true, things have been **significantly** more stable ever since.
When the science and data very clearly shows economic theory is right and that backing money with gold leads to poverty and instability why would you or anyone argue to go back to that? Its already been demonstrated to be a bad idea and the solution has consistently demonstrated to be better.
Thats because Trump violated the process we had established (and earlier Obama did something similar but to a lesser extent)... namely, Quantitative Easing.. Which totally circumvents the usual process for producing new money.
@freemo@icedquinn@romin When people see that inflation rises by the week and the cost of living keeps rising. It's hard to agree that this economic system is working for them.
@freemo@icedquinn@posrev >keep using different unstandardized and uncalibrated measuring tapes on a thing >"the thing's length has widly changed over the years"