lowkey

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241.
by lowkey 4y ago
I agree, but a crisis is the ideal time to examine the root causes that led to the crisis and to re-examine the assumptions upon which the environment that led to the crisis were based on. Fractional reserve central banking is a giant Ponzi
242.
by lowkey 4y ago
So was income tax (agreeing with you)
243.
by lowkey 4y ago
To be clear, I agree that you can’t raise reserve requirements now, but zero reserves was supposed to be a temporary Covid measure. We are here in 2023 and the banks are all insolvent having speculated using 100% of depositor funds as colla
244.
by lowkey 4y ago
Notably, the ICC isn’t the only organization that is involved in war crimes tribunals, nor was it the first. The US and all allied powers, including Russia, were signatories to the Nuremberg Principles[0] which we used to prosecute the Nazi
245.
by lowkey 4y ago
The Fed set the reserve ratio for banks to zero percent in 2020 which absolutely contributed to this latest banking crisis. I wonder why they haven’t reversed course as that would seem a prudent course of action to protect depositor funds f
246.
by lowkey 4y ago
Notably, the Fed set the reserve ratio for banks to zero percent in 2020 which absolutely contributed to this latest banking crisis. I am a bit surprised this hasn’t been mentioned as a contributing risk in the media, well not that surprise
247.
by lowkey 4y ago
To nitpick, Bitcoin doesn’t currently have a fixed supply. It has a supply cap that takes effect sometime in 2140. Bitcoin currently inflates by 6.25 BTC every ~10 minutes. For the record, I agree that early Bitcoiners took an incredible ri
248.
by lowkey 4y ago
Those “private banks” are at least in theory heavily regulated by the central bank. The central bank controls interest rates and thereby the cost of money. They control the amount of base money in the system and they control the reserve rat
249.
by lowkey 4y ago
I think Caitlin Long said it best on Twitter: “WORLD WAKING UP to the fact that a bank deposit is an unsecured loan to a leveraged counterparty, that the FDIC insurance fund only has $128bn, that total deposits in US commercial banks=$17.6
250.
by lowkey 4y ago
I’m still patiently awaiting the day we hold those accountable for the unilaterally aggressive war that led to the unnecessary death of over 1 million Iraqis and countless Americans. Should be any day now, right? Right?
251.
by lowkey 4y ago
I find it curious that the word startups has been replaced with “small business” Didn’t Paul Graham write an essay explaining that they are not the same [0] [0] http://www.paulgraham.com/growth.html
252.
by lowkey 4y ago
The Younger Dryas Impact Hypothesis [1], which has a growing body of evidence to support it, if true, would cause a great deal of embarrassment to mainstream archeologists. Is it possible that this is the reason they seek to smear Graham Ha
253.
by lowkey 4y ago
Graham Hancock is a journalist and a compelling science communicator. He has pursued theories outside the orthodox views of conventional archeology and, at least with the younger Dryas impact hypothesis, more and more evidence points to the
254.
by lowkey 4y ago
I think you mean just don’t give or receive donations in any amount to any cause that the Canadian government may retro-actively determine to be unacceptable or embarrassing, and your right to access your own money won’t be put at risk. (By
255.
by lowkey 4y ago
[0] https://archive.is/WEuO8
256.
by lowkey 4y ago
My favorite French word is Mortgage. Funnily enough this is the word used in English but not in French. The French have a separate word for a loan backed by property - Hypotheque. My guess is that the reason for this is that the original Fr
257.
by lowkey 4y ago
The problem with strictly following the sanctioned science community is that science follows the money (funding). 98% of archeologists agree with whoever is funding them. The remaining 2% are shunned on social media. — somebody on the inter
258.
by lowkey 4y ago
Two big wins for self-care: long walks and meditation
259.
by lowkey 4y ago
Shipping vessels but not private jets. Rules for thee, but not for me and my friends.[0] [0] https://bitluxtravel.com/eu-proposes-to-exempt-private-jets-...
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by lowkey 4y ago
Important to note that the Gore-TEX membrane is made from PFAS, a forever chemical that is absolutely destroying the health of virtually every living thing on the planet. Correction: As of 2022, Gore-TEX will no longer use PFAS in their mem
261.
by lowkey 4y ago
There are only two hard things in Computer Science: 1. Cache invalidation 2. Off by one errors 3. Naming Things Famous CS Joke
262.
by lowkey 4y ago
Here is my favorite vintage invention: A car with parallel parking assist in 1933 https://twitter.com/AndTartary/status/1585405938823237637?s=...
263.
by lowkey 4y ago
We start by recognizing that the option exists and then we discuss the merits and risks on forums like this one.
264.
by lowkey 4y ago
Chase is limited in that they can only lend to well-qualified borrowers who wish to borrow from Chase on terms Chase deems sufficiently profitable. In other words they are limited by the demand for loans by well-qualified borrowers. Well qu
265.
by lowkey 4y ago
> I’m mainly arguing against the idea that banks take in money as deposits and lend out that same money as loans. We are in full agreement on this point. Banks never lend out even a fraction of depositor funds. Instead, they have been gi
266.
by lowkey 4y ago
Notably all other countries have a similar fractional reserve banking model even if the details may vary. Specifically, the money loaned out by the bank is created out of thin air in the form of bank credit and does not come out of any acco
267.
by lowkey 4y ago
> How does your model explain that reserve requirements are now 0%? > Why haven’t the banks created infinite money? Reserve requirements are not the only constraint limiting bank’s ability to lend. The banks are also limited by the nu
268.
by lowkey 4y ago
I’ll admit my Google Foo is currently failing me but when last I checked fractional reserve requirements were a very real requirement up until the last couple of years. Do you have a source to support your claim that they only apply in econ
269.
by lowkey 4y ago
I simplified for the sake of the audience since it does, I’m sure you would agree, seem absurd that the current reserve requirements are near 0% which only makes my argument stronger. Technically, though the reserve requirements are still &
270.
by lowkey 4y ago
Both you and the author, while correct about many details, are completely wrong about the business model and economics of retail branch banking. To be precise you are off by 100x or two orders of magnitude on the profitability of depositors

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