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Don't blame "the people". The vast amount of money printing by central banks are the cause that holding onto cash and saving has become a high risk operation. T

by sprash 6y ago

Don't blame "the people". The vast amount of money printing by central banks are the cause that holding onto cash and saving has become a high risk operation. The solution is going back to the gold standard. The economist is owned by the same people that own your central bank. If they write about the "detrimental effects" of crypto, crypto must be really good.

padraic7a 6y ago
The Economist is owned by 'The Economist Group', which seems to be controlled by the Agnelli family a wealthy Italian business dynasty. What conspiracy do you subscribe to about Central Banks? https://en.wikipedia.org/wiki/The_Economist_Group https://en.wikipedia.org/wiki/The_Economist_Group
- deleted 6y ago
  [deleted]
chii 6y ago
> The solution is going back to the gold standard. and that situation was what happened in the 1929 great depression. And being on the gold standard, there wasn't any way to print, and took a world-war to break out of the depression.
- gher-shyu3i 6y ago
  This is missing the root cause. Why did the great depression happen? It's because of the usurious financial system. Move away from usury (aka interest), and these things instantly become a non-issue overnight. This is why the government moved away from the gold standard, they want to have their cake and eat it too. They want to rely on the unfair, immoral and parasitic usurious system, yet they want to be able to bail out the market at anytime they feel when they go too far. And guess what, this will keep happening because the fundamentals are rotten. And people still cry about the wealth gap, which will keep happening because of the broken system.
  - chii 6y ago
    Not being able to borrow money to create new wealth is worse than any immoral connotations from usury.
    - gher-shyu3i 6y ago
      False dichotomy and straw man fallacies. There are moral alternatives to borrowing money with usury.
- zoshi 6y ago
  The government helped create both the 1929 crash and the Great Depression. The US suspended the gold standard to pay for the first World War. Commercial banks were flooded with money, and when inflation got out of hand the Fed tightened rates in 1928-29. Then after the crash, the government implemented all kinds of disastrous economic policies, including wage and price controls, and a massive trade war with Smoot-Hawley tariff act, destroying imports and exports. The Fed shrank the monetary base by 7% 1929-1930, one of the largest tightenings in 20th century. The Fed helped create the crash then applied disastrous monetary policy after the crash, none of which was a result of a gold standard.

by sprash 6y ago

padraic7a 6y ago

The Economist is owned by 'The Economist Group', which seems to be controlled by the Agnelli family a wealthy Italian business dynasty. What conspiracy do you subscribe to about Central Banks? https://en.wikipedia.org/wiki/The_Economist_Group https://en.wikipedia.org/wiki/The_Economist_Group

deleted 6y ago
[deleted]

chii 6y ago

> The solution is going back to the gold standard. and that situation was what happened in the 1929 great depression. And being on the gold standard, there wasn't any way to print, and took a world-war to break out of the depression.

gher-shyu3i 6y ago
This is missing the root cause. Why did the great depression happen? It's because of the usurious financial system. Move away from usury (aka interest), and these things instantly become a non-issue overnight. This is why the government moved away from the gold standard, they want to have their cake and eat it too. They want to rely on the unfair, immoral and parasitic usurious system, yet they want to be able to bail out the market at anytime they feel when they go too far. And guess what, this will keep happening because the fundamentals are rotten. And people still cry about the wealth gap, which will keep happening because of the broken system.
- chii 6y ago
  Not being able to borrow money to create new wealth is worse than any immoral connotations from usury.
  - gher-shyu3i 6y ago
    False dichotomy and straw man fallacies. There are moral alternatives to borrowing money with usury.
zoshi 6y ago
The government helped create both the 1929 crash and the Great Depression. The US suspended the gold standard to pay for the first World War. Commercial banks were flooded with money, and when inflation got out of hand the Fed tightened rates in 1928-29. Then after the crash, the government implemented all kinds of disastrous economic policies, including wage and price controls, and a massive trade war with Smoot-Hawley tariff act, destroying imports and exports. The Fed shrank the monetary base by 7% 1929-1930, one of the largest tightenings in 20th century. The Fed helped create the crash then applied disastrous monetary policy after the crash, none of which was a result of a gold standard.