5 ms·

Really? Just like Krugman's QE! How am I going to get back my devalued savings once we find out it doesn't work, all savers have been ruined and fiat money has

by Proven 6y ago

Really? Just like Krugman's QE! How am I going to get back my devalued savings once we find out it doesn't work, all savers have been ruined and fiat money has no value? There's no need to test it on any scale, including small, because it can't work.

toomuchtodo 6y ago
Savers aren't entitled to a return. No one is entitled to fiat holding or increasing in value. The utility value of capital is declining, plain and simply. https://www.visualcapitalist.com/700-year-decline-of-interest-rates/ https://www.visualcapitalist.com/700-year-decline-of-interes... https://www.ecb.europa.eu/stats/policy_and_exchange_rates/key_ecb_interest_rates/html/index.en.html https://www.ecb.europa.eu/stats/policy_and_exchange_rates/ke... https://fred.stlouisfed.org/series/INTDSRJPM193N https://fred.stlouisfed.org/series/INTDSRJPM193N http://www.nationalbanken.dk/en/marketinfo/official_interestrates/Pages/Default.aspx http://www.nationalbanken.dk/en/marketinfo/official_interest... https://www.riksbank.se/en-gb/statistics/search-interest--exchange-rates/repo-rate-deposit-and-lending-rate/ https://www.riksbank.se/en-gb/statistics/search-interest--ex...
- beamatronic 6y ago
  It almost seems like the best use of cash is to use it as a down payment for a loan on an appreciating asset (like a house)
  - toomuchtodo 6y ago
    What happens if the house no longer appreciates?
- alexmingoia 6y ago
  Yeah, they’re entitled to a loss through inflation-based monetary policy and debasement.
MiroF 6y ago
The central bank exists to ensure that your fears here are misplaced.
- alexmingoia 6y ago
  Central banks exist to ensure debasement. By its very nature, fractional reserve banks cannot honor their contracts. The purpose of a central bank is to print money to ensure the solvency of the fractional “reserve” bank cartel. And predictably, we’re here at zero percent interest rates, large levels of private and public debt, and the public starting to realize that they can use the printing press too and demand to be given free money (UBI).

by Proven 6y ago

toomuchtodo 6y ago

Savers aren't entitled to a return. No one is entitled to fiat holding or increasing in value. The utility value of capital is declining, plain and simply. https://www.visualcapitalist.com/700-year-decline-of-interest-rates/ https://www.visualcapitalist.com/700-year-decline-of-interes... https://www.ecb.europa.eu/stats/policy_and_exchange_rates/key_ecb_interest_rates/html/index.en.html https://www.ecb.europa.eu/stats/policy_and_exchange_rates/ke... https://fred.stlouisfed.org/series/INTDSRJPM193N https://fred.stlouisfed.org/series/INTDSRJPM193N http://www.nationalbanken.dk/en/marketinfo/official_interestrates/Pages/Default.aspx http://www.nationalbanken.dk/en/marketinfo/official_interest... https://www.riksbank.se/en-gb/statistics/search-interest--exchange-rates/repo-rate-deposit-and-lending-rate/ https://www.riksbank.se/en-gb/statistics/search-interest--ex...

beamatronic 6y ago
It almost seems like the best use of cash is to use it as a down payment for a loan on an appreciating asset (like a house)
- toomuchtodo 6y ago
  What happens if the house no longer appreciates?
alexmingoia 6y ago
Yeah, they’re entitled to a loss through inflation-based monetary policy and debasement.

MiroF 6y ago

The central bank exists to ensure that your fears here are misplaced.

alexmingoia 6y ago
Central banks exist to ensure debasement. By its very nature, fractional reserve banks cannot honor their contracts. The purpose of a central bank is to print money to ensure the solvency of the fractional “reserve” bank cartel. And predictably, we’re here at zero percent interest rates, large levels of private and public debt, and the public starting to realize that they can use the printing press too and demand to be given free money (UBI).