You are viewing a single comment's thread from:
RE: If value is just perception, then there must be some value in a piece of paper
the banks are REALLY good at making money out of thin air - they literally do it every single day. They are allowed to lend money that they do not have - and once they lend out $100,000 - they actually now have $100,000 of receivables on their books and they can say that are now $100,000 richer because someone OWES them $100,000 - then the government allows them to lend out 10x more than they really have on the books - and the cycle starts all over again - they loan out money that they don't have and suddenly they now have it - PRESTO! it's Magic!!
And the worst of all is that as the added """"value"""" circulates through the monetary system (not unlike water in the biosphere), someone will actually rely on it. Because, obviously, when the bank forces you to pay an amount, you need to get that amount from somewhere, in order to compensate your loss.
So the artificial gain becomes a true loss of value somewhere, so you literally can't "delete" or "erase" it because that'd be detrimental to someone.
This is how countries' debt accumulates and never stops existing. My country (Hungary) has this issue and the US is at a tough situation with China, as well.
These are the issues that make the rise of cryptocurrencies especially important.
very true words my friend...you make some good points - I've been saying this for years. Our debt system is set up in such a way that it is impossible to ever pay it back.
very new to this but the potential is limitless in other words. Happy to be here and hey one day this will be the future banks (without the greedy part I will hope)
Pretty disgusting! That will be left in the future thanks to this technology.
unreal!