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Also, we reserve the right to dictate what you spend your money on and if you want to donate to causes (e.g. Wikileaks or truckers) that we don't approve of, we
by agentultra 4y ago
Also, we reserve the right to dictate what you spend your money on and if you want to donate to causes (e.g. Wikileaks or truckers) that we don't approve of, we'll block your bank account and cut you off from the system.
There are some things that are plain illegal. If you’re laundering money, selling illegal drugs, running guns, funding terrorist groups, etc you run the risk of getting caught and having your accounts shut down.
We’re not living in a dictatorship (yet). There’s still due process and the justice system.
Lastly, we reserve the right to manipulate the money supply.
“In our time, the curse is monetary illiteracy, just as inability to read plain print was the curse of earlier centuries.” — Ezra Pound
If you’re interested in how money works you should read a book or two about it. It’s pretty interesting. “The government,” isn’t “printing money.”
Absolutely concern yourself with it.
The problem right now is that government regulators aren’t technically savvy enough to understand cryptocrap and it’s implications. They read what briefs they can but they face endless technobabble from lobbyists and “industry representatives.” The hearings with the US congress were something else.
- boppo1 4y ago> The government,” isn’t “printing money.” It's certainly increasing the maximum potential supply in ways divorced from any market mechanism. They are central planners and they're failing hard like central planners did before.
- jcbrand 4y agoWe’re not living in a dictatorship (yet). Funny how people here assume we all live in the same country. There are lots of people on HN who live in dictatorships. If you’re interested in how money works you should read a book or two about it. It’s pretty interesting. Thanks for the condescension. Money printing is a colloquial term used to describe various ways in which the money supply is manipulated by Central Banks, they like to use terms such as Quantitative Easing (creation of new bank reserves that didn't before exist) and open market operations (buying assets with money that didn't before exist).
- BobbyJo 4y agoThe article is about Washington....