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You are basically saying that I don't have a right to preserve my wealth for the time period I see fit and that the government (I consider the central banks to

You are basically saying that I don't have a right to preserve my wealth for the time period I see fit and that the government (I consider the central banks to be part of the gov) should enforce that by manipulating interest rates. What's next? Prohibit ownership of precious metals (again)?

bryanlarsen 7y ago
Preserving your wealth in a risk free fashion is a service the government is providing to you. That's a big portion of the reason why the army, police et cetera exist. It costs them and you a lot more than 1% per annum.
- jaclaz 7y ago
  >Preserving your wealth in a risk free fashion is a service the government is providing to you. That's a big portion of the reason why the army, police et cetera exist. It costs them and you a lot more than 1% per annum Sure, but all that doesn't come out for free (and it isn't even cheap), as you pay taxes on your income. Once it is in your pocket the money is "free" from the costs that have been already detracted from it for all the general government costs. And besides once you have your income, you can spend it (and thus give to the government some more taxes, i.e. VAT or Mehrwersteuer) or save part of it, investing it (and BTW paying some more taxes on the interests or dividends your investments - hopefully - produce).
- starbugs 7y ago
  > Preserving your wealth in a risk free fashion is a service the government is providing to you. That's a big portion of the reason why the army, police et cetera exist. It costs them and you a lot more than 1% per annum. No, the government doesn't provide me with the financial tools to preserve my wealth. The market wants to do that, because there's demand for it. It's the government that indirectly manipulates interest rates and thereby distorts the market so that it isn't capable anymore of providing these services. It seems as if all is nice and cozy from your viewpoint with this situation as long as I spend my currency (immediately!) to "help the system". But nobody asks whether this allocates my resources towards the right investment. When the time comes and I cannot retire, because I wasn't able to save, it's now again the problem of society that needs to step in, and you will probably opt for even more debt to "sustain" my standard of living. Again, this financial/political ideology is severely damaging our prospects as a society. I wonder how it's so hard to understand.

bryanlarsen 7y ago

Preserving your wealth in a risk free fashion is a service the government is providing to you. That's a big portion of the reason why the army, police et cetera exist. It costs them and you a lot more than 1% per annum.

jaclaz 7y ago
>Preserving your wealth in a risk free fashion is a service the government is providing to you. That's a big portion of the reason why the army, police et cetera exist. It costs them and you a lot more than 1% per annum Sure, but all that doesn't come out for free (and it isn't even cheap), as you pay taxes on your income. Once it is in your pocket the money is "free" from the costs that have been already detracted from it for all the general government costs. And besides once you have your income, you can spend it (and thus give to the government some more taxes, i.e. VAT or Mehrwersteuer) or save part of it, investing it (and BTW paying some more taxes on the interests or dividends your investments - hopefully - produce).
starbugs 7y ago
> Preserving your wealth in a risk free fashion is a service the government is providing to you. That's a big portion of the reason why the army, police et cetera exist. It costs them and you a lot more than 1% per annum. No, the government doesn't provide me with the financial tools to preserve my wealth. The market wants to do that, because there's demand for it. It's the government that indirectly manipulates interest rates and thereby distorts the market so that it isn't capable anymore of providing these services. It seems as if all is nice and cozy from your viewpoint with this situation as long as I spend my currency (immediately!) to "help the system". But nobody asks whether this allocates my resources towards the right investment. When the time comes and I cannot retire, because I wasn't able to save, it's now again the problem of society that needs to step in, and you will probably opt for even more debt to "sustain" my standard of living. Again, this financial/political ideology is severely damaging our prospects as a society. I wonder how it's so hard to understand.