/biz/ - Business & Finance

*yawn*

>>22239372
u gonna tell us if this passes? I

>>22239372
ya this is so the fed has the ability to control M2 and velocity in a much quicker way than is currently available
pretty fucked if you ask me, but we live in a clown world, so fuck it why not

I’m just a Bill...on Capitol Hill.
Chainlink niggers coping really all need to Chill.
Cause I’m just a Bill on Capitol Hill.
Chainlink $3 EOY, just take the blackpill

literally full MMT for americans. so fucking bullish.

Who cares, let the government do what they want with their government currency. Why are people so retarded to still play the governments game and play by the government's rules, when we have superior sovereign alternatives like bitcoin? Once I put my entire savings in crypto I could give a fuck less if the government wants to inflate the shit out of it or have a negative interest rate tax. I opted out. You're a retard if you're still in dollars, and your savings make you a slave to the government, you are at the mercy of their currency manipulation and debasement.

>>22239877
>Who cares, let the government do what they want with their government currency. Why are people so retarded to still play the governments game and play by the government's rules, when we have superior sovereign alternatives like bitcoin? Once I put my entire savings in crypto I could give a fuck less if the government wants to inflate the shit out of it or have a negative interest rate tax. I opted out. You're a retard if you're still in dollars, and your savings make you a slave to the government, you are at the mercy of their currency manipulation and debasement.
t reddit

>>22239877
Yeah because I can buy anything I want with BTC. Face it dude, the majority of people stlil will use what currency they create, so you have to as well.

>>22239937

Reddit is all pro-fed MMT cucks, retard.

>>22240080

Just sell the BTC to dollars right before you spend them. The only way the government can still fuck with you is through taxes then. Still way better than holding cash.

>>22240116
>Just sell the BTC to dollars right before you spend them. The only way the government can still fuck with you is through taxes then. Still way better than holding cash.

This, basically. If you're not already doing this (specially in non-US countries) your entire savings will be wipes out by money printers. Nearly every government in the world right now is loading up on debt due to the "pandemic", don't be stupid and get out of your local currencies.

>>22240116
Oh, I agree with you there. 90 percdent of my money is in crypto. But we still have to go through their currency.

So how is a digital dollar created? Most dollars are already digits on a screen in a bank somewhere. A digital dollar will allow to government to create more easily create dollars without issuing bonds? Effectively skipping out the large banks as middlemen? I would like to see the middlemen cut out but just looks like a scam to further expand the government powers and surveillance state.

We need to opt out of this slave system slowly with Bitcoin. Seems impossible but slowly and then suddenly it will happen. First movers win. The Dollar ponzi is going to collapse in our lifetime

>>22240205
yes, exactly
no more bond market required when this happens
eventually, there wouldn't be a use for the fed either
MMT retards will say this works, but they're literal retards

>>22240293
no they aren't retards. it will work. it will universally benefit anyone with deinflationary assets i.e. people who buy and produce value and massively increase the economic inequality.

it's literally a meritocracy system.

>>22240205

That's what it looks like. While it seems nice that you cut out the bank middleman, that's only nice if you "trust" the government/fed anymore than you do your bank. It opens the door for negative interest rates, wealth taxes, etc. Basically gives the government direct control to do anything to your bank account, rather than have to do it through "private" banks.

>>22240333
if you honestly think MMT would work, i can't say anything that you that would change your mind
all i can say is, unfortunately, i have a feeling MMT will be fully implemented since it has support on both sides of the aisle, and then we can watch the world burn and wonder how things kept getting worse and worse

>>22240334
We’re fukt. How do we allow this shit to get so out of hand? It’s disgustingly unconstitutional

>>22239451
What's in mean in brainlets terms?

>>22239937
>t reddit

>>22240333
>it's literally a meritocracy system.

Its the opposite of a meritocracy system. The treasury / fed is currently running a massive crony capitalist corporate welfare system where the politically connected are continually bailed out when their retarded risk taking bites them in the ass. It rewards failing companies and punishes companies who are responsible and don't take unnecessary risks.

That's why we have an economy full of poorly run, debt saddled companies that need the government's bailout every time there is a minor hiccup in the economy. MMT prevents badly managed companies to fail, it enshrines the established wealthy while keeping the middle / lower class in perpetually debt slavery by inflating away their savings and income, reducing class mobility. MMT is closer to the feudal system than a meritocracy. And it exasperates government corruption and cronyism because it removes all checks on government abuse of the currency.

>>22240530
Allows the fed to “create” dollars faster and easier

>>22240530
how quick you pass around pussy or money through transaction

>>22240380
God you're fucking retarded you fucking aspie nigger

Nobody is saying that the feds bullshit is going to work. were saying exactly the opposite, and that its going to make the value of our bitcoin explode.

>>22240584
>>22240636
Wouldn't that make it easier to control/prevent inflation/hyperinflation?

>>22240703
Watch this and think about the current economic climate. Then ask yourself is preventing inflation in the federal reserve’s best interest? No we’re going full Zimbabwe

https://youtu.be/iFDe5kUUyT0

>>22239463
kek

>>22239937
yeah you're right anon. let's just hold the AMERICAN DOLLAR that will HOLD VALUE for the REST OF TIME!
what a ONIONS BOY kek!!!!

>>22240844
I honestly doubt that.

>>22240380

MMT is just the natural consequence of our country having control of the world's fiat reserve currency. Spending our way to oblivion was inevitable; without pain there's no incentive to change, and we never felt pain from overspending like other countries do, which means we never had to impose austerity measures either.

It's like rollerskating down a big hill. Once you start there's no stopping, so you might as well enjoy the ride.

>>22240922
I’m not talking in the next 1-2 years. But give it 10 years or so. History books will look back on 2008 and 2020 as the death of the dollar

no one should hold dollars, that’s not the point of the dollar. savings should not be kept in dollars. I’m not sure why so many of you have such a boner for a permanently valued dollar. You literally do not have to hold them and you are incentivized in every single way NOT to hold them. Why does this offend you so much

>>22241035
That's a more fair assumption, even then, we will just move on to another form of currency.

>>22239372
Good time to short every bank in the USA it's going to be a blood bath

>>22240994

A fixed rate currency policy like the gold standard could have prevented it. But one of the most corrupt politicians in history got rid of it. The government's power is its ability to spend. And MMT removes all restraints on expansion of spending and in turn expansion of government power and abuse of that power.

The gold standard should have been in the bill of rights, because it is a check on endless expansion of government by corrupt or even just inept politicians that are being played.

>>22239372
>he doesn’t know
https://m.youtube.com/watch?v=jfx7PnMtCeY

>>22240530
It means you should be prepared to go completely off grid

>>22241307
I'd rather just kill myself.

>>22240562
Sorry but your crony capitalist critique is bullshit. Capitalism is always inherently monopolistic, even Adam Smith said so. The concentration of power creates the tightly interwoven networking where crucial information is being shared.

If the opportunity to access to this network of information is equal, then whoever manages to access to the information deserves to be rich. That's exactly what digital dollars is for. To remove the inequitable access to dollars.

>>22241431

I was responding to the claim about MMT leading to meritocracy. In fact the opposite has occurred. Not sure what that has to do with capitalism in general or monopolies. My point is that the government devalues currency which mostly affects the middle class and primarily funnels that wealth politically connected banks and corporations. This is the opposite of a meritocracy, wealth is directed to people based on wealth and power, not by skill or capacity. This has very little to do with capitalism and is more of an argument for a free market than state-directed "crony capitalism" (not capitalism itself / in general).

>>22241252
we haven’t had a true gold standard since WW1, and even before then it was heavily gamed during the late 19th century. goldfags repeatedly tried to crash the economy as well

>>22241817

I'm not saying the rate can't be adjusted, but it should require something on the level of a constitutional amendment.

>>22241817
Yeah the problem with the gold standard was central banks had too much power in suppressing the price to inflict damage on the economy. The only true enemy of the people is central banks. Bitcoin is the way out

>>22241139
Wages are nominated in dollar, dollar inflation means wages go down which is bad for the crumbling middle class
Debth is nominated in dollars, inflation favors investing in stuff that would not be profitable otherwise, also it is a main force in the rising real estate prices which creates a class of rentslaves that are priced out of ever owning a home

>>22239372
Trump kept talking about "direct payment" "direct stimulus" yesterday. Made me think of this

>>22239463
Absolutely baste. /thread