4 ms·

They are prepping us to justify more takeovers and sell offs to the big banks. A handful of big banks are what is needed to implement CBDC. It is kind of simila

They are prepping us to justify more takeovers and sell offs to the big banks. A handful of big banks are what is needed to implement CBDC. It is kind of similar to how the government prefers a handful of tech companies which they can control. Apple, Microsoft, Google, Amazon, Facebook Goldman Sachs, JP Morgan Chase, Citibank, BofA, Wells Fargo

Convolutional 3y ago
> the government prefers a handful of tech companies which they can control I think you have the order wrong there
- brvsft 3y ago
  Nah, I think the one with a $6T annual budget, a money printer, and the monopoly on violence is the one in charge.
- _navierstokes 3y ago
  Tech companies don't control the government, the government has much more power than them. Also, within the government there are groups, though they're a minority, that are against big tech. But yes, the State gets private information [0] and influences content moderation [1] from tech companies, and on the other side big tech spends millions each year lobbying the federal government [2]. [0] - https://www.cloudwards.net/prism-snowden-and-government-surveillance/ https://www.cloudwards.net/prism-snowden-and-government-surv... [1] - https://en.wikipedia.org/wiki/Twitter_Files https://en.wikipedia.org/wiki/Twitter_Files ( nos. 6-10 ) [2] - https://www.politico.com/newsletters/morning-tech/2022/01/24/tech-spent-big-on-lobbying-last-year-00001144 https://www.politico.com/newsletters/morning-tech/2022/01/24...
deleted 3y ago
[deleted]
Puts 3y ago
At least a CBDC would allow central banks to print money without also creating debt – because really the debt driven economy is the reason we keep ending up in these crises.
- jarym 3y ago
  Yes and no, CBDCs can still lead to debt driven economies. If they 'print'/'mint'/'whatever' only X 'coins' they never give them away. They 'lend' them and the chain of lending means that, in aggregate, X+Y coins are due to be repaid (Y being total debt obligations). If gov/fed then don't print Y additional coins it leads to a crunch. Not only has the borrower to pay back the capital with interest (obviously) but that additional money has to exist for them to be able to do so. When money supply is tightened, there's just less money in existence. In theory the value of the money should go up (I guess that's why people expect inflation to then go down). But it doesn't change the fact that if you're on the hook to pay back money when the 'physical' or 'virtual' supply doesn't exist you are pretty screwed.
legulere 3y ago
Isn’t it the other way around in the US? Big companies have a big influence over the government.

Convolutional 3y ago

> the government prefers a handful of tech companies which they can control I think you have the order wrong there

brvsft 3y ago
Nah, I think the one with a $6T annual budget, a money printer, and the monopoly on violence is the one in charge.
_navierstokes 3y ago
Tech companies don't control the government, the government has much more power than them. Also, within the government there are groups, though they're a minority, that are against big tech. But yes, the State gets private information [0] and influences content moderation [1] from tech companies, and on the other side big tech spends millions each year lobbying the federal government [2]. [0] - https://www.cloudwards.net/prism-snowden-and-government-surveillance/ https://www.cloudwards.net/prism-snowden-and-government-surv... [1] - https://en.wikipedia.org/wiki/Twitter_Files https://en.wikipedia.org/wiki/Twitter_Files ( nos. 6-10 ) [2] - https://www.politico.com/newsletters/morning-tech/2022/01/24/tech-spent-big-on-lobbying-last-year-00001144 https://www.politico.com/newsletters/morning-tech/2022/01/24...

deleted 3y ago

[deleted]

Puts 3y ago

At least a CBDC would allow central banks to print money without also creating debt – because really the debt driven economy is the reason we keep ending up in these crises.

jarym 3y ago
Yes and no, CBDCs can still lead to debt driven economies. If they 'print'/'mint'/'whatever' only X 'coins' they never give them away. They 'lend' them and the chain of lending means that, in aggregate, X+Y coins are due to be repaid (Y being total debt obligations). If gov/fed then don't print Y additional coins it leads to a crunch. Not only has the borrower to pay back the capital with interest (obviously) but that additional money has to exist for them to be able to do so. When money supply is tightened, there's just less money in existence. In theory the value of the money should go up (I guess that's why people expect inflation to then go down). But it doesn't change the fact that if you're on the hook to pay back money when the 'physical' or 'virtual' supply doesn't exist you are pretty screwed.

legulere 3y ago

Isn’t it the other way around in the US? Big companies have a big influence over the government.