FIAT CURRENCY – HOW HUMANITY HAS BEEN ENSLAVED WITH DEBT

[NotMyProblemParticipant 965]

I’m sure many MGTOW have already looked into the financial system and know it’s a giant ponzi scheme.

But for the younger MGTOW out there, it’s imperative you understand how our “money” is created.

The sad fact is that since 1971, the US dollar and all other currencies are purely FIAT, which means backed up by DEBT.

Fiat currency, or paper money is the biggest scam on Earth. There is a difference between money and currency.

The money we have today is actually just currency and “legal tender”. It’s backed up by absolutely nothing.

If you do not understand something as simple as money, your’e in for a rude awaking at some point in the future.

I’m not a doomster or a hardcore prepper or anything. I’m just aware that the world keeps changing, and certain long-term cycles just keep repeating over and over again throughout history.

I found a great series of videos that really break it down into very simple terms for the average man to understand. It’s called the Hidden Secrets Of Money, by Mike Maloney.

Here is a link to the 1st of 6 chapters. https://www.youtube.com/watch?v=DyV0OfU3-FU

It explains how the US dollar and other paper currencies are mathematically doomed to fail. This is a long term trend, and it’s not necessarily imminent, just inevitable. I want to make sure everyone is aware.

The bigger the crisis, the bigger the opportunity.

Not my property... Not my problem

[StargazerParticipant 12505]

So what’s the solution… back to the gold standard? Crypto-currency? Barter economy? Bottle caps?

I’m not disagreeing that expanding the supply of a currency devalues the existing currency… but assuming that we need some method of easily and securely accounting for, transmitting and storing value, I wonder how one avoids erosion of value in any form of standardized expandable storage.

Anyone?

[Tiga KParticipant 1693]

Thanks. I will watch your videos when I am back on campus. Honestly, I live with my parents and have yet to really set out into the word financially speaking. My parents try to teach me what they know, but they don’t share my minimalist style philosophy. I hope I can learn from you guys. I do not want to go into debt and I will not place my faith in paper money.

[Anonymous 5]

Absolutely stellar series! No other series attempting to explain the base financial system even comes close.
The vast majority of people will be horrified to find out what they’re really “borrowing” from banks,,,,hahahahaha
If you think the US and UK systems are bizarre,,,,in Australia we have no fractional reserve whatsoever.
The banks can create as much money as they like here.

This series also points out the exponential growth of government and welfare in all modern western societies
Our political “Democracies” are based on buying votes from minorities with taxpayer money.
It’s caused virtual bankruptcy to just about all modern countries on the globe.
It’s all just a house of cards now, and has been for nearly 20 years or so.
The longer they put off the collapse with increasing unserviceable debt and money printing, the worse the collapse will be.

Don’t get all freaked out and think the world’s going to end tomorrow.
I think they can keep juggling for up to the next 5, 10 or 20 years.

[Bob BashboshParticipant 160]

Stargazer wrote:

So what’s the solution… back to the gold standard? Crypto-currency? Barter economy? Bottle caps?

I’m not disagreeing that expanding the supply of a currency devalues the existing currency… but assuming that we need some method of easily and securely accounting for, transmitting and storing value, I wonder how one avoids erosion of value in any form of standardized expandable storage.

Anyone?

My thoughts exactly. I despair of tour situation but I can’t see an imminent and practical alternative. Anything realistic has been legislated against. We’re not meant to have comprehend freedom, it’s anathema to the state. So where do we go from here?

[NotMyProblemParticipant 965]

CRYPTO CURRENCY.

The only way to make gold work again is to digitize it. Which means you have to trust someone to hold it for you.

F~~~ that s~~~. Who ya gonna trust? The Federal Reserve? Hilary Clinton?

Cryptocurrency is the FUTURE. I have no doubts of that.

Will it be BITCOIN??

Maybe. I give it about a 70% chance. Not sure if it can scale without becoming centralized and losing it’s core features.

I watch this space very carefully. I have a large portion of my money invested, but not enough to hurt me if it goes to zero.

https://www.cryptocoinsnews.com

http://www.coindesk.com

https://bitcoinmagazine.com

http://cointelegraph.com

Any input from the more tech savvy is appreciated.

Not my property... Not my problem

[hmskl’dParticipant 6405]

Alternative investments. Not following the mainstream and constantly looking for those little niche opportunities that might be worthwhile over time.

[NotMyProblemParticipant 965]

The government cannot stop BITCOIN. Especially in America.

There are several Supreme Court rulings that have decided currency is a freedom of speech issue.

Many big bitcoin companies and investors who have the money to fight this in court.

At the end of the day, 2 + 2 will always equal 4.

The government can pass a law that says 2 + 2 = 5, but that just means we will have to create workarounds.

They can certainly slow it down. Stop it? No way.

Not my property... Not my problem

[StargazerParticipant 12505]

Bitcoin is not secure. It has been hacked, the core database forked, numbers counterfeited, transactions rerouted… although expansion of the supply depends on technological advance, it’s just as problematic as physical media… And its initial distribution has nothing to do with value production, just one’s ability to generate numbers.

[Bob BashboshParticipant 160]

Stargazer wrote:

Bitcoin is not secure. It has been hacked, the core database forked, numbers counterfeited, transactions rerouted… although expansion of the supply depends on technological advance, it’s just as problematic as physical media… And its initial distribution has nothing to do with value production, just one’s ability to generate numbers.

I came to the same conclusion, I mined for about 6 months, a year ago and haven’t visited my account since. It’s all a bit too ponzi for me. They HAS to be a realistic and equitable alternative. Come on guys.. lets think of something.

[Crazy CanuckMember 4215]

The bankers are planning to use digital currency to enslave us. By using bitcoin it’s making them easier. You are better off buying real gold and silver. Bitcoin can crash too.

"If pussy was a stock it would be plummeting right now because you've flooded the market with it. You're giving it away too easy." - Dave Chapelle

[NotMyProblemParticipant 965]

“Bitcoin is not secure. It has been hacked, the core database forked, numbers counterfeited, transactions rerouted… although expansion of the supply depends on technological advance, it’s just as problematic as physical media… And its initial distribution has nothing to do with value production, just one’s ability to generate numbers.”

Please enlighten me here guys.

1- BITCOIN CAN BE HACKED

From what I gathered, Bitcoin companies have been hacked but Bitcoin itself is unhackable. I mean it’s just a protocol, much like HTTP right? The Bitcoin network is just a digital ledger, that is spread out over all the miners. Kinda like bittorrent.

If one were extremely paranoid, is it not true that you could just boot a fresh operating system, such as TAILS. Then generate a Bitcoin paper wallet, print it out and then wipe the memory?

For those of you who do not know, a Bitcoin wallet is just a random number that’s encrypted. These numbers are so large that it’s mathematically improbable for the same number/letter sequence to be generated twice.

The Bitcoin themselves exist on the ledger. The Bitcoin wallet that the coins are assigned to simply contains the private key that enables a user to spend the coins…

Now as far as hacking the ledger itself. There are tens of thousands of miners… Wouldn’t you have to hack each and every one? Correct me if I’m wrong…

2- The core database has been forked.

I thought that was a feature? So that it can grow with time? The only way to fork Bitcoin is through consensus, which means unless a majority of the miners agree to a change, it doesn’t happen. Some guy that has millions invested into mining computers is not going to shoot himself in the foot.

Again, please correct me if I’m wrong

Not my property... Not my problem

[NotMyProblemParticipant 965]

The bankers are planning to use digital currency to enslave us. By using bitcoin it’s making them easier. You are better off buying real gold and silver. Bitcoin can crash too.

I hate to tell ya CrazyCanuck, but we already have digital currency. Swipe a credit/debit card lately?

As far as Bitcoin’s just being numbers… well yea. You can’t denominate a currency in letters…

The fact that there is a mathematical framework that limits the supply, much like gold, and does not depend on a central authority figure, like a bank would have me believe this is a step in the right direction.

I’m not saying go buy mad Bitcoins. Just saying this is probably a step in the right direction… It may not be Bitcoin. Maybe Bitcoin will fail, but technology tends to improve over time.

Not my property... Not my problem

[NotMyProblemParticipant 965]

bunker mode says:

not worrying about s~~~ I cannot control.

Here’s how I can control things:

I can go get a degree in cryptography and distributed systems, or just teach myself with books.

Then I go help the cryptocurrency space. It’s decentralized and open source, so as a Man I have just as much say in the direction of this space as anyone else.

It’s very possible Bitcoin is flawed. There have been several attempts at digital cash so far. They have all went to zero.

Bitcoin is the first of these currencies to be decentralized. Thats a big step in the right direction.

The sooner young Men go forth and build humanity a better alternative, the better we all are.

The changing nature of money is something that is worthy of much thought, for obvious reasons.

Not my property... Not my problem

[VeniversumParticipant 492]

Personally, I’d like to see money thrown completely out the window, but that’s never going to happen, so any alternative to the world central banking cartel looks good to me. I’m sick of them reading the script “WE NEED ANOTHER WAR!”. The entire worldwide economy is fraudulent.. and even millionaires are nothing when the currency hyper-inflates. How many more times do people have to get suckered by fiat currency before the world realizes it needs to stop using it? How many more police officers will continue to enforce unjust laws? How many soldiers will continue to obey orders without question? This may go on for centuries…

[NotMyProblemParticipant 965]

Money is just a place to store your economic energy, so you can deploy it at a later time.

Think of a world without money. We would be back in the stone ages. It solves the double coincidence of needs and wants.

In a world without money, we would all be farmers trading each other 2 chickens for some candles and some steak later in the year when they harvest betsy the cow. It’s not a pretty picture, and the average life expectancy would be 30 years.

Money is a necessity to live our nice modern lifestyles. It’s just a token. It could be a digital token like a bitcoin or a US dollar, or it could be a shiny pretty token like gold.

Not my property... Not my problem

[VeniversumParticipant 492]

I don’t think we would be back in the stone age. The reason money is obsolete, is because labor can be automated. At some point, it will, and then labor will be impossible to sell anymore. Why should anyone pay you $15 an hour to do something that a machine can do for less than a dollar? Sorry friend, but it’s coming. Labor is the source of true wealth, because it’s what creates all of the products and services… and like I said, when the currency hyper inflates, and then the ruling class attempts to fix it, war is almost always the tool. This time though, it’s climate change. Any way you look at it, money *IS* the slavery. When labor is automated, people will be free from the slavery, and yet they will not be able to earn a living. That will break the system. The reason we can’t change is the same reason you won’t even consider a moneyless possibility: We only think of ourselves and how it would benefit us. Everyone wants to be rich, but in order to do so, it has to be at the expense of someone else. Robots replace jobs but they do not purchase products.

[NotMyProblemParticipant 965]

I love automation. I’m building a website right now. It’s gonna basically run itself.

Now I understand the implications of automation. We could see half the labor force become unemployed, through no fault of their own.

But think of all the jobs/businesses that can’t be automated… They do exist.

Someone still has to invest in the factory, or whatever is being automated. If a fast food chain goes full robot, there still has to be a Man out there to set everything up and collect the coin. The world may become winner take all, but there will always be winners my friend.

Another interesting side note… Cryptocurrency is necessary for the Internet of things… Soon, things like your fridge will be able to purchase a new gallon of milk when it notices you are running low.

With crypto, an appliance can be given a small amount of petty cash to make purchases with. Your washing machine cannot spend dollars on it’s own, but it can spend bitcoin or something similar.

Look into DAC, or Distributed Autonomous Corporations. Robot corporations that run themselves. They are already being built. So far there is only one currency that a machine or computer program can spend on it’s own. Guess which one that is?

Now I’m not saying this is a good thing for society. It just is what it is. You can’t stop automation. All you can do is position yourself to profit off it.

Nothing is inherently good nor bad. It’s up to you. Glass half full or glass half empty.

Not my property... Not my problem

[NotMyProblemParticipant 965]

People are inherently selfish.

The entire world is not gonna all start singing Kumbaya some day, give up money and just share.

Why should I work hard, if the benefits of my labor get shared with some lazy feminist…

Forget about a resource based economy. Will never happen. It’s basically communism, it only looks good on paper.

Money is how you incentivize individuals to produce. Look at the capitalist countries, then look at the communist ones. Who is more prosperous?

Without money, everyone just shares. That’s some femnazi s~~~. Money allows me to keep the majority of the fruits of my labor.

Look up the double coincidence of needs and wants.

The only problem I have with money is that a small group of international banking cartels can create it from nothing and then loan it to the people at interest….

It’s much better to have an asset based money. The only way to do this is to use a commodity as money. Gold is a commodity. Bitcoin is a digital commodity.

Veniversum, you should totally watch “the hidden secrets of money”. I posted the link above somewhere.

Not my property... Not my problem

[VeniversumParticipant 492]

People are not “inherently selfish”, they are a product of their environments. In an environment of abundance, people are not selfish. A resource based economy? I’m not talking about that, but you have no comparison to communism, since the legislation that constitutes it includes a central bank, and centralized control of credit in the hands of the state i.e. The Federal Reserve, the World Bank, and the IMF. The 10 planks of communism do not apply to a resource based economy. The point that I’m trying to make to you, is once I purchase the technology to make myself independent, I no longer have a use for trade. I can have my own aquaponic gardens that produce my food, grow things that I can make my own necessary products out of and also utilize 3D printers. That is the direction we are going. When that happens, centralized businesses are over with. People who do not need things from other people have no use for money. Likewise people who have all the money in the world, aren’t enticed by money. They want things that money cannot buy. As for “the hidden secrets of money”, I have already seen it, along with hours and hours an hours of film about currencies and the history of banking. I have also read about the entire failed history of fiat currency and the difference between Hayakian and Keynesian economics. Let’s stick to the real subject, which is how technology is simply going to make trade obsolete, by enabling people to produce everything for themselves through automation. How are you going to get someone to perform a service for you if they don’t want to do it and don’t need the money? Can you see where this is going? Once the working class can use technology to sustain it’s self, they no longer have the need to earn money from “rich” people, which means they no longer need to work for “rich” people, which means that those people are no longer rich. Money will eventually be defeated anyway. It’s not a matter of people singing “Kumbaya”. It’s a matter of “I don’t need you and I’d rather spend the time developing and enjoying myself instead of toiling away running your business for you for hours a day in a sophisticated form of slavery.” Money isn’t a store of value at all when it is fiat, because the only thing that gives it value is the willingness of government to compel it’s subjects into servitude by using legislation to force people to acquire currency to exist. When people no longer require currency, it’s over.

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