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There is currently no alternative. I for one would love a global currency that was untethered from government corruption (printing), and manipulation. It would

There is currently no alternative. I for one would love a global currency that was untethered from government corruption (printing), and manipulation. It would also be devoid of regulation where no actor gets to say if one person can use it or not. We aren't ready to empower individuals on that level though. Manipulating currency markets is ingrained in our political structures.

dvtrn 8y ago
Have you considered our liquid coin and solvent savior $randoCoin? It has a current market cap of $volumeLargerThanTheEconomyOfSmallNationYouveNeverHeardOf (Because surely someone was going to bring it up)
- datavirtue 8y ago
  Yeah..but like most here I didn't want to be the one to bark about crypto. The settlement tech and security of crypto absolutly sucks.
  - badloginagain 8y ago
    Why would you choose a financial instrument that's only a few years old to replace the US Dollar? There are some primary use cases that crypto solves in regards to international monetary transactions, but there are big questions in terms of technological maturity, and most especially around governance. I love crypto, I think its potentially transformational. But it just isn't a contender yet. It needs to scale and it needs to mature.
- amanaplanacanal 8y ago
  And we already have gold, which nobody wants to use because it doesn't allow governments to inflate at will. The exact same problem the cryptocurrencies have. What we see as a benefit, governments see as a drawback.
iambvk 8y ago
crypto currencies are supposed to fill that role.
avn2109 8y ago
>> "...a global currency that was untethered from government corruption (printing)..." This is your friendly weekly reminder that the government does not print money in almost all countries, with a very few interesting exceptions. Money is instead created by ordinary privately-owned commercial banks, or by consortiums of privately-owned commercial banks aka the owners of central banks [0]. The spirit of the parent's point stands, which is of course that somebody is ripping you off. But that somebody is manifestly not a government. [0] https://www.bankofengland.co.uk/-/media/boe/files/quarterly-bulletin/2014/money-creation-in-the-modern-economy.pdf https://www.bankofengland.co.uk/-/media/boe/files/quarterly-... See the key quote in bold on the first page: "Whenever a bank makes a loan, it simultaneously creates a matching deposit in the borrower’s bank account, thereby creating new money."
- megaman8 8y ago
  Yes, but the Fed enables this behavior by loaning the banks money. The point is, it's due to the govt that the money supply is increasing hence we have inflation.
- lacker 8y ago
  Well, the government is controlling the money supply. The main way you get ripped off is when the monetary authority decides that inflation should be higher, and that devalues your money. Calling that process "printing money" seems like a reasonable metaphor.
  - pjc50 8y ago
    Inflation is fundamentally a price level problem. I don't understand why libertarians seem to think the price level of goods and services should be fixed forever.
    - robotrout 8y ago
      Inflation can indeed be caused by supply and demand, which is what you're referring to. However, if an open market is allowed (no price controls), generally supply will rise to meet demand and price will fall back. Unfortunately, inflation can also occur when too much money floods a system. We see this in the case of college tuition. Giving college loans to anybody with a heartbeat floods the system with money, causing tuition price inflation. This does happen with countries as well. Every dollar that a government borrows and then spends, is money creation. The act of selling the treasury notes allows them to obtain money today for the promise of paying it back with interest in the future. That new money is spent into the system and much of it takes the form of bank deposits which can then be inflated 10:1.
WC3w6pXxgGd 8y ago
It's called Bitcoin.
gscott 8y ago
Even a Global Currency might not be free of corruption due to those who maintain it and pressures upon those who maintain it. while in United States we worry that the politicians are not following our wishes it's a lot less corrupt than other countries.

dvtrn 8y ago

Have you considered our liquid coin and solvent savior $randoCoin? It has a current market cap of $volumeLargerThanTheEconomyOfSmallNationYouveNeverHeardOf (Because surely someone was going to bring it up)

datavirtue 8y ago
Yeah..but like most here I didn't want to be the one to bark about crypto. The settlement tech and security of crypto absolutly sucks.
- badloginagain 8y ago
  Why would you choose a financial instrument that's only a few years old to replace the US Dollar? There are some primary use cases that crypto solves in regards to international monetary transactions, but there are big questions in terms of technological maturity, and most especially around governance. I love crypto, I think its potentially transformational. But it just isn't a contender yet. It needs to scale and it needs to mature.
amanaplanacanal 8y ago
And we already have gold, which nobody wants to use because it doesn't allow governments to inflate at will. The exact same problem the cryptocurrencies have. What we see as a benefit, governments see as a drawback.

iambvk 8y ago

crypto currencies are supposed to fill that role.

avn2109 8y ago

>> "...a global currency that was untethered from government corruption (printing)..." This is your friendly weekly reminder that the government does not print money in almost all countries, with a very few interesting exceptions. Money is instead created by ordinary privately-owned commercial banks, or by consortiums of privately-owned commercial banks aka the owners of central banks [0]. The spirit of the parent's point stands, which is of course that somebody is ripping you off. But that somebody is manifestly not a government. [0] https://www.bankofengland.co.uk/-/media/boe/files/quarterly-bulletin/2014/money-creation-in-the-modern-economy.pdf https://www.bankofengland.co.uk/-/media/boe/files/quarterly-... See the key quote in bold on the first page: "Whenever a bank makes a loan, it simultaneously creates a matching deposit in the borrower’s bank account, thereby creating new money."

megaman8 8y ago
Yes, but the Fed enables this behavior by loaning the banks money. The point is, it's due to the govt that the money supply is increasing hence we have inflation.
lacker 8y ago
Well, the government is controlling the money supply. The main way you get ripped off is when the monetary authority decides that inflation should be higher, and that devalues your money. Calling that process "printing money" seems like a reasonable metaphor.
- pjc50 8y ago
  Inflation is fundamentally a price level problem. I don't understand why libertarians seem to think the price level of goods and services should be fixed forever.
  - robotrout 8y ago
    Inflation can indeed be caused by supply and demand, which is what you're referring to. However, if an open market is allowed (no price controls), generally supply will rise to meet demand and price will fall back. Unfortunately, inflation can also occur when too much money floods a system. We see this in the case of college tuition. Giving college loans to anybody with a heartbeat floods the system with money, causing tuition price inflation. This does happen with countries as well. Every dollar that a government borrows and then spends, is money creation. The act of selling the treasury notes allows them to obtain money today for the promise of paying it back with interest in the future. That new money is spent into the system and much of it takes the form of bank deposits which can then be inflated 10:1.

WC3w6pXxgGd 8y ago

It's called Bitcoin.

gscott 8y ago

Even a Global Currency might not be free of corruption due to those who maintain it and pressures upon those who maintain it. while in United States we worry that the politicians are not following our wishes it's a lot less corrupt than other countries.