4 ms·

> fiat currency is a grand scheme to undermine our savings How exactly is it not? Inflation = stealing value from people, that they have already created, time-

> fiat currency is a grand scheme to undermine our savings How exactly is it not? Inflation = stealing value from people, that they have already created, time-limiting their spending power so that there's no way to actually save money in the long-term. Money printing is theft, indirect taxation without consent.

qwytw 3y ago
> no way to actually save money in the long-term The idea is that you'd save by investing into productive enterprises (and or government bonds) obviously that doesn't necessarily function as well as one would hope for but it's an better solution than hoarding cash/gold/bitcoin/etc.
throw0101b 3y ago
> so that there's no way to actually save money in the long-term. Besides equities? Besides TIPS? * https://www.investopedia.com/terms/t/tips.asp https://www.investopedia.com/terms/t/tips.asp Do you literally keep bills under your mattress or buried in your backyard? There's your problem.
- bheadmaster 3y ago
  > Do you literally keep bills under your mattress or buried in your backyard? There's your problem. No, there's not my problem. The problem is that the government keeps printing money, so my bills under my mattress or buried in my backyard keep dropping in value. The fact that there are securities that are literally called "Inflation-Protected" as an antidote to that only serves as a proof of the original problem. > But you can save money! No, you can invest money. But investing should not be mandatory just to keep your wealth from rotting.
  - deleted 3y ago
    [deleted]
  - throw0101b 3y ago
    > The problem is that the government keeps printing money […] Except that it doesn't. Money is created by private banks through credit (loan, mortgage) creation: * https://www.bankofengland.co.uk/quarterly-bulletin/2014/q1/money-creation-in-the-modern-economy https://www.bankofengland.co.uk/quarterly-bulletin/2014/q1/m... * https://www.bankofengland.co.uk/explainers/how-is-money-created https://www.bankofengland.co.uk/explainers/how-is-money-crea... > […] so my bills under my mattress or buried in my backyard keep dropping in value. Yes, this is a feature: the discouragement of the non-productive uses of capital and hoarding à la Scrooge McDuck. > No, you can invest money. Most people actually save and do not invest: * https://www.pragcap.com/saving-is-not-the-key-to-financial-success/ https://www.pragcap.com/saving-is-not-the-key-to-financial-s...
    - bheadmaster 3y ago
      > Yes, this is a feature: the discouragement of the non-productive uses of capital and hoarding à la Scrooge McDuck. I sincerely doubt that "disouragement of the non-productive uses of capital" is the main reason for inflation. Linear tax on having money would do much better. Besides, except for a pathological example where scarcity of money causes deflation, why would it matter if someone is hoarding money? If they're saving for something that costs e.g. 10 years wage, "hoarding" money is the only way they'd ever save that much. But with constant inflation, it's basically impossible - the only way to "save" money for something that expensive is to take a loan... Which again seems to lead back into banks' pockets. Who actually hoard money. The game seems rigged, and all "explanations" for inflation just sound like bad lies given by Wall Street brokers high on coke.
JohnFen 3y ago
> Money printing is theft, indirect taxation without consent. I think this characterization is incorrect.

qwytw 3y ago

> no way to actually save money in the long-term The idea is that you'd save by investing into productive enterprises (and or government bonds) obviously that doesn't necessarily function as well as one would hope for but it's an better solution than hoarding cash/gold/bitcoin/etc.

throw0101b 3y ago

> so that there's no way to actually save money in the long-term. Besides equities? Besides TIPS? * https://www.investopedia.com/terms/t/tips.asp https://www.investopedia.com/terms/t/tips.asp Do you literally keep bills under your mattress or buried in your backyard? There's your problem.

bheadmaster 3y ago
> Do you literally keep bills under your mattress or buried in your backyard? There's your problem. No, there's not my problem. The problem is that the government keeps printing money, so my bills under my mattress or buried in my backyard keep dropping in value. The fact that there are securities that are literally called "Inflation-Protected" as an antidote to that only serves as a proof of the original problem. > But you can save money! No, you can invest money. But investing should not be mandatory just to keep your wealth from rotting.
- deleted 3y ago
  [deleted]
- throw0101b 3y ago
  > The problem is that the government keeps printing money […] Except that it doesn't. Money is created by private banks through credit (loan, mortgage) creation: * https://www.bankofengland.co.uk/quarterly-bulletin/2014/q1/money-creation-in-the-modern-economy https://www.bankofengland.co.uk/quarterly-bulletin/2014/q1/m... * https://www.bankofengland.co.uk/explainers/how-is-money-created https://www.bankofengland.co.uk/explainers/how-is-money-crea... > […] so my bills under my mattress or buried in my backyard keep dropping in value. Yes, this is a feature: the discouragement of the non-productive uses of capital and hoarding à la Scrooge McDuck. > No, you can invest money. Most people actually save and do not invest: * https://www.pragcap.com/saving-is-not-the-key-to-financial-success/ https://www.pragcap.com/saving-is-not-the-key-to-financial-s...
  - bheadmaster 3y ago
    > Yes, this is a feature: the discouragement of the non-productive uses of capital and hoarding à la Scrooge McDuck. I sincerely doubt that "disouragement of the non-productive uses of capital" is the main reason for inflation. Linear tax on having money would do much better. Besides, except for a pathological example where scarcity of money causes deflation, why would it matter if someone is hoarding money? If they're saving for something that costs e.g. 10 years wage, "hoarding" money is the only way they'd ever save that much. But with constant inflation, it's basically impossible - the only way to "save" money for something that expensive is to take a loan... Which again seems to lead back into banks' pockets. Who actually hoard money. The game seems rigged, and all "explanations" for inflation just sound like bad lies given by Wall Street brokers high on coke.

JohnFen 3y ago

> Money printing is theft, indirect taxation without consent. I think this characterization is incorrect.