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The funny thing is that because the traditional finance systems were grandfathered in no one cares that they had been taken over by speculators long ago. And le
by superkuh 3y ago
The funny thing is that because the traditional finance systems were grandfathered in no one cares that they had been taken over by speculators long ago. And lets not even get started on the fiat pre-mine that is fractional reserve banking giving chartered banks the ability to mint new M0 currency, and only chartered banks. Which pragmatically means that ~4000 corporations in the USA get all the newly created currency.
- danaris 3y agoWhen the value of the USD spikes to the point that a single dollar represents a year's worth of work at minimum wage, maybe then you can criticize it as being "taken over by speculators" in the same way that Bitcoin was.
- superkuh 3y ago... that's already happened? Cents used to be the dollar in terms of purchasing power. Inflation of the US fiat currency reached bitcoin levels a half century ago.