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I did. I studied the global monetary system in detail. It's a scam. Let me summarize (as best as I can as it's surely the most elaborate scam, with the most unw
by cryptica 2y ago
I did. I studied the global monetary system in detail. It's a scam. Let me summarize (as best as I can as it's surely the most elaborate scam, with the most unwitting collaborators that has ever existed):
The governments of all countries 'print' new money at a steady rate; simultaneously devaluing all their currencies. They do this by issuing bonds, some of those bonds are bought up by the markets but most bonds are bought up by reserve banks using money that they printed out of nothing (mostly digitally). This issuance of new money devalues the savings of regular citizens and, most importantly, their salaries listed on their work contracts which are denominated in the national currency.
The government debts of all countries keep increasing ad-infinitum along with the interest on that debt. More debt with more interest means that the governments need to keep issuing more bonds to get even more money to use to pay back the old debts plus interest, which then increases the debt even more and guarantees that more future money printing/borrowing is necessary.
Countries don't strictly need to tax citizens since they can just print money, but the reason they tax citizens is to help keep inflation under control by reducing the supply of currency floating around the economy. The fiat currencies of all countries are inflating but this is not noticeable (to traders, economists, etc...) so long as all currencies inflate at a similar rate; the foreign exchange rates will be stable.
Governments give out increasingly large contracts to large corporations to produce systems, weapons, etc... that add no value to citizens' lives but merely exists to control and passify them. People who are in close proximity to government money printers have access to easy money. Those who do not have to work hard for it. Look up Cantillon effects.
At current tax rates, money cannot hop far from the government's money printer. Consider that every transaction between citizens is taxed at some rate... Say 30% (a mix of income taxes, sales taxes...) Start with $100, see how much money is left after just 10 hops between different people. After 1 hop, $70 is left to spend, after 2 hops $49 is left, after 3 hops $34 is left... After 10 hops, only $2.80 remains from that 100 dollars!
So not only is all money created by the government (or banks that are backed by the central bank which is also a government entity), but the taxation system ensures that money cannot travel too far from that government. It's a closed loop with monetary abundance near the source and extreme scarcity at the periphery. It puts the Cantillon effect on steroids. All artificial, little to do with the so-called free market. How can big cities afford to accommodate millions of people working bullshit office jobs that add no value? Big cities, by virtue of having millions of people, control huge amounts of collateral, which gives them access to bigger loans and bigger gov contracts, which puts them in the front row of the money printers; which makes their capital holders the biggest beneficiaries of Cantillon effects... With those powerful Cantillon effects, the business elite can afford to be inefficient and sustain millions of bullshit jobs.
This is barely scratching the surface. I could write a book about it... But nobody would buy it... Because the media is monopolized and nobody would know the book exists. Not only that, but nobody who has money to buy the book has an incentive to understand this information... And they certainly won't be recommending it to their friends...
The system is basically as unjust as it can possibly be while still just barely avoiding being exposed as such. Society has become an epic PsyOp; complete with eugenics and elite selection; selecting for increasingly delusional, hypocritical and/or oblivious leaders who can continue running the system while it becomes increasingly dysfunctional.
The moment when a business leader starts to notice that something is off is the moment that they get replaced by someone who is even more delusional/oblivious and who can take the company/organization to the next level, unimpeded by common sense or principles.
For the next phase, I predict AI is going to make the economy and the monetary system even more complicated. It's going to be even more unjust and even harder to explain. AI will be able to create alternative realities for us. It will control the flow of information in ways that will keep us trapped in hermetically sealed filter bubbles.
There are millions of people suffering in silence whose opportunities have been stolen from them and they don't even know what's happening. The current system is absolutely immoral. Please point out any flaw in my arguments.
- user90131313 2y agoThank you but people here still might not get it :)
- JumpCrisscross 2y ago> I studied the global monetary system in detail You seem to have sampled a hodgepodge of modern monetary theory and neo-pacifist international relations theory. (Also, ignored the role of recession and default in money destruction.) That leads to a mix of correct and incorrect observations tied together incoherently. Within that context, you are right to be frustrated, but not by the state of the world but by your ignorance of it. Introductory texts in money and banking (Mishkin) and international finance (Krugman or Pilbeam) would be advised. You may also benefit from reading Bagehot, who describes British central banking under the gold standard (and colonialism). > given the current rate of AI progress, it's possible you may never read another contrarian comment like this again in your life and neither will any of your descendants Given what AI was trained on, and its lack of understanding and tendency to hallucinate, I’d expect this to become the dominant form of AI-generated economics talk. It certainly is that way on Twitter, Reddit and YouTube already.
- newsclues 2y agoWhat are the biggest errors in that post? Say top 3, that are easy to prove are false.
- wuiheerfoj 2y ago>The governments of all countries 'print' new money at a steady rate Central bank != government in most developed countries >so long as all currencies inflate at a similar rate; the foreign exchange rates will be stable. Exchange rates are not stable for a variety of reasons that are not purely supply-related
- _factor 2y agoExchange rates used to be pegged to labor. The futures market obfuscated that and is controlled by a central bank through government issued subsidies which cause food surpluses which “should” reduce the price of produce.. if not for the manipulated futures market. I’m sure population density is a variable in this equation as well, I just can’t figure out where to pin it.