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I am not for "changing the system". The system that worked for thousands of years and got humanity to the peak of civilization works perfectly fine: hard money.

by ibz 4y ago

I am not for "changing the system". The system that worked for thousands of years and got humanity to the peak of civilization works perfectly fine: hard money. This fiat money thing (or "regulated" as you call it) is a very short-lived experiment that has gotten us where we are today: definitely downhill - sick people on a sick planet. Nobody asked us whether we agree with decoupling the USD from the gold standard, it just happened without us knowing, and you saying I am for "changing the system" is pure gaslighting. I am just advocating for a return to the system that worked just fine. Have you ever thought about how much energy the banking system consumes? Or the military that is backing the US dollar? Seems like you just fall for the headlines about Bitcoin's energy use without thinking about the counter-arguments. Do you think gold mining happens in a vacuum?

nisegami 4y ago
I don't think the human condition has substantially changed since the end of the Bretton Woods system. Or are you referring to a period of time further back?
- ibz 4y ago
  Yes, I think it did change. It also changed for the better, of course, with all the newer technologies we now have - but these would have happened regardless - they are not a byproduct of the monetary system. However: what we are eating, for example, is of much worse quality. Products that we use every day are of inferior quality (although some are more technologically advanced). While you could argue that more advanced products are inherently less reliable, for having more "moving parts", the decline in quality happened for all products and services, not just for the complex ones. The quality of what we consume intellectually has also decreased: what passes as "art" today can only be called so because it absorbed "easy money", but it is far from what was being produced not long ago. Western classical music, for example, clearly started declining around the time purchasing power started declining. The avant-garde of Stravinsky and his contemporaries was still innovative, intellectually stimulating, and beautiful compared to the "avant-garde" of John Cage and other such imposters. Same happened in painting, same happened in architecture...

by ibz 4y ago

nisegami 4y ago

I don't think the human condition has substantially changed since the end of the Bretton Woods system. Or are you referring to a period of time further back?

ibz 4y ago
Yes, I think it did change. It also changed for the better, of course, with all the newer technologies we now have - but these would have happened regardless - they are not a byproduct of the monetary system. However: what we are eating, for example, is of much worse quality. Products that we use every day are of inferior quality (although some are more technologically advanced). While you could argue that more advanced products are inherently less reliable, for having more "moving parts", the decline in quality happened for all products and services, not just for the complex ones. The quality of what we consume intellectually has also decreased: what passes as "art" today can only be called so because it absorbed "easy money", but it is far from what was being produced not long ago. Western classical music, for example, clearly started declining around the time purchasing power started declining. The avant-garde of Stravinsky and his contemporaries was still innovative, intellectually stimulating, and beautiful compared to the "avant-garde" of John Cage and other such imposters. Same happened in painting, same happened in architecture...