32 posts shown.
Nicholas Turner said:It seems Zeitgeist 3 has taken a look—apparently, they’ve discovered that nothing beats a little bit of warmth and a shot of adrenaline to get things moving!
Arthur Booth96 said:Maybe give that documentary *Money as Debt* a watch if you can't be bothered to slog through actual monetary economics textbooks instead.
edit: And just to be clear, it isn't some disgusting scam; it’s just that today's paper money is fiat currency, assuming you've heard the term. Basically, it all relies on trusting that random scrap of paper and having faith in the CB.
Arthur Booth96 said:GDP and GDP per capita haven't really been considered the gold standard for measuring how much people are actually thriving for quite some time now, though I guess I'm not entirely sure where you're getting that from
Austin Clark7 said:You’re looking at this all wrong. Think about it like a carpenter who picks up some raw lumber for $33—through sheer skill, sweat, and time, he turns that wood into high-end doors and sells them for $667. It’s the exact same deal for a bank; they take money as input and use various investments—loans being just one tiny slice of the pie—to grow that capital into something much larger.
By the way, how did you even land on those $68 numbers in the first place? If there were actually a fixed amount of money in the world—which, by the way, is a completely flawed assumption—then if Steve wanted to pay back a loan with interest, he’d have to earn that extra cash somewhere else. So, let's say he sells a massive batch of doors... that just moves his capital to a third party, leaving the total sum at $67
But honestly, your logic is way too oversimplified... and if you keep thinking like that, you're never going to wrap your head around how the money market actually works.
Arthur Booth96 said:Maybe give that documentary *Money as Debt* a watch if you can't be bothered to slog through actual monetary economics textbooks instead.
edit: And just to be clear, it isn't some disgusting scam; it’s just that today's paper money is fiat currency, assuming you've heard the term. Basically, it all relies on trusting that random scrap of paper and having faith in the CB.
Amanda Allen4 said:It’s possible—because modern money, or rather our national currencies, are nothing more than symbols. As long as people collectively agree to believe in a symbol, it exists.
Austin Clark7 said:Why on earth do you think economics is actually simpler than that? Honestly, that’s the whole issue right there—everyone seems to think economics is this self-explanatory, straightforward, totally basic thing. It's not.
Just sit down, pick up a book, read some peer-reviewed journals... even that Wikipedia entry is actually pretty solid if you give it a chance. It might help things click for you.
Kate Foster12 said:First off, the minimum reserve a bank needs to operate in the US is $40 million.
Second, you need to understand the basics of deposit and credit multiplication...
Nicholas Turner said:Here is the backstory on how this all began http://en.wikipedia.org/wiki/Fractional-reserve_banking
Is this even legal? Feels like the biggest, nastiest scam on the planet to me.
Austin Clark7 said:Wow, you really think you simplified it, don't you? Look, the Federal Reserve isn't something you can just wrap up in a single social media post... honestly. Maybe try hitting up a local library sometime—they’ve got stacks of textbooks on how the Federal Reserve actually functions, most of them running pretty heavy at 400 to 700 pages... just grab one, sit down, and actually read it. It might help clear things up for you.