Bitcoin Forum

Economy => Economics => Topic started by: snatoshi on October 18, 2018, 06:44:13 PM



Title: The production of money... is SCAM!
Post by: snatoshi on October 18, 2018, 06:44:13 PM
Just after the financial crisis in 2009, the journalist Scott Pelley asked Ben Bernanke on the 60 minutes CBS TV show where did they get the money for the AIG bailout in march 14, 2009? was these money of the taxpayer people?

He just said:"No. It isn't money from the taxpayers. The banks has it's own accounts with the Federal Reserve as well as you can have one with one commercial bank."

He continued: "In such way, to loan to a bank, one just simply uses the computer to mark up the size of the account they had with the Federal Reserve"

So he just literally admits they create the 85,000,000,000 usd out of nowhere to rescue the private company. This isn't the way capitalism should work and it's more like socialism where everybody takes the loses  >:(


Title: Re: The production of money... is SCAM!
Post by: bubblebit on October 18, 2018, 07:14:59 PM
The government is the biggest scammer and this is within their control. The financial system that been hit by this massive fraud in wall street. Oh, I forgot that mainstream media and the likes are on the same channel and part of this since they're the main information sources in our society.

Mind conditioning and paid news shelling is one of they're profiting from. Politics do control everything in this world and that's what we get from being a puppet of this corrupt and self centered public servants.


Title: Re: The production of money... is SCAM!
Post by: jrrsparkles on October 18, 2018, 07:18:33 PM
The government is the biggest scammer and this is within their control. The financial system that been hit by this massive fraud in wall street. Oh, I forgot that mainstream media and the likes are on the same channel and part of this since they're the main information sources in our society.

Mind conditioning and paid news shelling is one of they're profiting from.
To be honest the governments were not controlling their country's money,it is controlled by their central banks that is why we call it as central banks even the government has no control over it so why we are allowing them? This sytem was found in 18th century and the creators were still following this system ad they are making all our money to decrease its value over time.


Title: Re: The production of money... is SCAM!
Post by: LeGaulois on October 18, 2018, 08:42:11 PM
The Federal Reserve is a private entity and works like this for decades.
Banks and the US government ask loans and get money created magically. The taxpayer is not paying for the bank loans but when it's about the government loans, it creates a debt for each citizen (when you give birth there, your kid has already a debt of $50,000)

With the scriptural money, the money doesn't exist physically, only in a database, it's created magically based on the fractional reserve rate. If the money stays scriptural that could be ok, but if people suddenly decide to go to the ATM and transfer out everything in cash, then the drama will start.


Title: Re: The production of money... is SCAM!
Post by: STT on October 18, 2018, 11:16:53 PM
Its a monopoly on the production of national currency, some might say well the government should command this facility to stop fraud and counterfeits.    The problem is there is no set schedule to that system of money, its value is not tied to anything and ultimately the money is produced in line with political will.

The origins of the US dollar were eroded at various points that otherwise would have supported its value and stopped this descent.    One of the most mentioned in the news is the fiscal budget ceiling, which is raised at every question.    This ceiling should be fixed but as money itself declines in value the costs also rise needing a constant raise just to stand still.

What should be happening is a fiscal surplus but there is no political will to force such a harsh change in climate to the current continual deficit spending policies.    The only likely change will be external to USA and hence this failure of control represents a probable national threat.
Its not unknown or unrecognised by many parties but so far it has been unstoppable.     This is not capitalism, the means of value and capital are with the people as is the production.   It differs strongly with a nation guided by nationalised ownership of major assets and business.   Fixing rates (and monetary production) is just one such dominant assets operated by government, theres no question they must continue to devalue dollar so long as the debt goes unpaid in deficit budgets.

   Its part of the backdrop to crypto and the stressed importance of distributed ownership and operation to split vested interest and bias


Title: Re: The production of money... is SCAM!
Post by: dothebeats on October 18, 2018, 11:46:31 PM
I wouldn't be surprised if that happened, especially if the higher echelons of AIG have some deep connections with the government. Nothing would be checked and investigated in here since the Federal Reserve has been doing this for decades. It's just a shame though that even though we know how everything works, people just turn a blind eye over it and pretend that nothing happened. Also, it's kind of unfair to the working class taking loans in a bank compared to a private company taking loans to save its life. This system is screwed, and money is not created to stimulate the economy anymore but to bail out those who got bankrupt, as long as they have close ties with the government.

Money is today is not backed by anything except the promises, services and infrastructures of the government that us, the citizens are paying for. We're getting screwed in the ass and we still allow it since we believe we can't be without order.


Title: Re: The production of money... is SCAM!
Post by: maculeth on October 19, 2018, 01:49:50 AM


So he just literally admits they create the 85,000,000,000 usd out of nowhere to rescue the private company. This isn't the way capitalism should work and it's more like socialism where everybody takes the loses  >:(
precisely in this way, can trigger a country to experience a continuing crisis which will lead to hyperinflation.


Title: Re: The production of money... is SCAM!
Post by: cellard on October 19, 2018, 02:04:47 AM
Its a monopoly on the production of national currency, some might say well the government should command this facility to stop fraud and counterfeits.    The problem is there is no set schedule to that system of money, its value is not tied to anything and ultimately the money is produced in line with political will.

The origins of the US dollar were eroded at various points that otherwise would have supported its value and stopped this descent.    One of the most mentioned in the news is the fiscal budget ceiling, which is raised at every question.    This ceiling should fixed but as money itself declines in value the costs also rise needing a constant raise just to stand still.

What should be happening is a fiscal surplus but there is no political will to force such a harsh change in climate to the current continual deficit spending policies.    The only likely change will be external to USA and hence this failure of control represents a probable national threat.
Its not unknown or unrecognised by many parties but so far it has been unstoppable.     This is not capitalism, the means of value and capital are with the people as is the production.   It differs strongly with a nation guided by nationalised ownership of major assets and business.   Fixing rates (and monetary production) is just one such dominant assets operated by government, theres no question they must continue to devalue dollar so long as the debt goes unpaid in deficit budgets.

   Its part of the backdrop to crypto and the stressed importance of distributed ownership and operation to split vested interest and bias

It always seemed ridiculous to me how the whole point of government issued money is basically being forced at gunpoint to accept a product, that is, their product.

They will shut down anything that challenges the status quo. There isn't even competing banks, everything is extremely centralized. If at least banks were able to compete with each others and decide on how the money is issued, but there's nothing to do, you either accept it or you are dead basically.

The fact that they haven't put a war on bitcoin only leads me to two conclusions:

1) They will, but they haven't war mode against it yet, they still don't consider it a treat for the status quo because it's too small
2) They've realized they can't ever get rid of it and they will eventually adopt it as world reserve currency (after demoralizing everyone but hardcore hodlers into dumping coins to them for cheap prices)


Title: Re: The production of money... is SCAM!
Post by: aoluain on October 19, 2018, 07:17:12 AM

1) They will, but they haven't war mode against it yet, they still don't consider it a treat for the status quo because it's too small
2) They've realized they can't ever get rid of it and they will eventually adopt it as world reserve currency (after demoralizing everyone but hardcore hodlers into dumping coins to them for cheap prices)

I would probably agree with your option 1 more than option 2. I recon governments could shake
iut more people if they started issuing bans and further regulations on entry and exit points.

The vast majority of people dont understand economics and dont think its a serious matter when
governments and banks trick with the finances, others dont care enough either so they know
they can get away with it.


Title: Re: The production of money... is SCAM!
Post by: STT on October 19, 2018, 08:19:31 AM
I also very much expected US government to strongly oppose crypto as an alien product to the process of money printing and continual debt issuance.     But I do also think democracy is in operation and the beast that is government is not of a single mind but will allow competition while it is open, possibly growth producing and most importantly is willing to pay taxes.

Right now we have more a failure in capitalism then democracy and it is possible to fix capitalism while it will sting alot as the wound is treated.   Great defaults in debt have occurred at other times in history and thats probably what should happen now, the big problem is the debt is tied to the largest most powerful and most respected democracy in the world but that doesnt mean the debt isnt bad


Title: Re: The production of money... is SCAM!
Post by: ss890 on October 19, 2018, 08:53:36 AM
The government is the biggest scammer and this is within their control. The financial system that been hit by this massive fraud in wall street. Oh, I forgot that mainstream media and the likes are on the same channel and part of this since they're the main information sources in our society.

Mind conditioning and paid news shelling is one of they're profiting from.
To be honest the governments were not controlling their country's money,it is controlled by their central banks that is why we call it as central banks even the government has no control over it so why we are allowing them? This sytem was found in 18th century and the creators were still following this system ad they are making all our money to decrease its value over time.

Yes a government has nothing to do with the banking system because both of them are two different bodies. For example, central bank will look after all the financial work flows and it will cover from salaries, international trades, businesses, small savings to big billion bonds and stuff like that.
A government will only look after Taxation at the max as there officials will be involved.
So whatever happens within central banks control is entirely there own business and decisions.


Title: Re: The production of money... is SCAM!
Post by: mazdafunsun on October 19, 2018, 10:04:31 AM

I think most of intelegent people is aware of the current way of banking, money is made from nothing , in some cases it has clever ,fancy names which makes regualr Joe think that those smart eduacted people know what are they doing. i find it fasinating how our society is living in this economy which is based on borrowing and printing money in circles, This is why we end up in crisis form time to time.

I also very much expected US government to strongly oppose crypto as an alien product to the process of money printing and continual debt issuance.     But I do also think democracy is in operation and the beast that is government is not of a single mind but will allow competition while it is open, possibly growth producing and most importantly is willing to pay taxes.

i dont that this will be the case, if cryptos will get more popular , it will become a financial factor around the globe and US will have to worry about who has the most power over it ( mining) .


Title: Re: The production of money... is SCAM!
Post by: Hydrogen on October 19, 2018, 12:21:40 PM
There are many interesting points and factoids to emerge as a result of the 2008 financial crisis and the TARP (trouble asset relief program) which followed it. I'll list a few of them for you. This is all from memory and so might not be 100% accurate but will be close.

#1 The federal reserve profited around $40 billion dollars from the loans they made to troubled banks.

#2 Subprime mortgages and OTC derivatives only consisted of roughly 15% of the overall debt banks were liable for. The official explanation citing subprime mortgages could have been a distraction from the real issue which was over leveraged derivatives markets.

#3 The TARP and bank bailout program is still ongoing today with many banks in europe still requiring bail outs.

#4 Current derivatives exposure for banks is measured in trillions of dollars and is much larger than the total GDP of entire nations.

This is all off the top of my head. There are many interesting angles to the crisis that are neglected and mostly ignored within the grand scheme of things.


Title: Re: The production of money... is SCAM!
Post by: STT on October 19, 2018, 12:38:29 PM
'Profited' while government runs further into debt and dollar is losing its value vs real goods, its a treadmill perspective but I take the point they gained in theory.


Derivatives also may expire worthless while keeping a potential liability on a balance sheet until the very last day of trade.  My personal take on that figure would be in comparison to the exposure an insurance company has, gigantic bills can occur with disasters and many insurance payouts but its also true many liabilities expire at zero sum and only to the profit of the issuer which in your example would be the banks and how they profit in financial services and trading.


Quote
if cryptos will get more popular , it will become a financial factor around the globe and US will have to worry about who has the most power over it ( mining) .

Mining also is a kind of liability with asset investment required.   I'm not sure miners do have the most power exactly, didnt we have a large section who wanted to make BCH the main forked chain much like how ETH took over in that disagreement.
I think users might still have a large part in deciding who to place their transactions with in order that miners receive profits from transaction fees in that business.    


Title: Re: The production of money... is SCAM!
Post by: charlotte04 on October 19, 2018, 12:44:28 PM
Just after the financial crisis in 2009, the journalist Scott Pelley asked Ben Bernanke on the 60 minutes CBS TV show where did they get the money for the AIG bailout in march 14, 2009? was these money of the taxpayer people?

He just said:"No. It isn't money from the taxpayers. The banks has it's own accounts with the Federal Reserve as well as you can have one with one commercial bank."

He continued: "In such way, to loan to a bank, one just simply uses the computer to mark up the size of the account they had with the Federal Reserve"

So he just literally admits they create the 85,000,000,000 usd out of nowhere to rescue the private company. This isn't the way capitalism should work and it's more like socialism where everybody takes the loses  >:(

It can be since we don't know what is happening inside of those facilities that makes money. We may have been fooled all this time by those kind of people but crypto will make a change to that someday.


Title: Re: The production of money... is SCAM!
Post by: the13thsymphony on October 19, 2018, 01:00:28 PM
I have seen somewhere(I do not remember if its in the news or in the internet) that the world is in trillions of dollars in debt, but to whom they are in debt is unknown but there are many speculations that it is the banks that are pulling the strings as you can see in a certain government to sustain their annual expense in their different sector they would have their yearly budget from their peoples tax, however there are chances that the budget will fall short for their needed expense so some government will loan to the world bank to make up for it, however it is still questionable how can a government make millions to billions of loan to such banking institutions almost yearly and so the speculation that banks can just make up these money comes up and upon seeing this post it seems like it is true, however for us to be sure we would still need to have an article about what Ben Bernanke said.


Title: Re: The production of money... is SCAM!
Post by: ylnar123 on October 19, 2018, 01:01:00 PM
Just after the financial crisis in 2009, the journalist Scott Pelley asked Ben Bernanke on the 60 minutes CBS TV show where did they get the money for the AIG bailout in march 14, 2009? was these money of the taxpayer people?

He just said:"No. It isn't money from the taxpayers. The banks has it's own accounts with the Federal Reserve as well as you can have one with one commercial bank."

He continued: "In such way, to loan to a bank, one just simply uses the computer to mark up the size of the account they had with the Federal Reserve"

So he just literally admits they create the 85,000,000,000 usd out of nowhere to rescue the private company. This isn't the way capitalism should work and it's more like socialism where everybody takes the loses  >:(

It's not impossible for them to loan for that amount but let's not judge them directly by saying they are scams. Yes production of money needs to have a back up of gold's in the deposits and it not just from the taxpayers money but also from the private sector who would lend money from the federal reserves.


Title: Re: The production of money... is SCAM!
Post by: snatoshi on October 19, 2018, 03:30:32 PM
The government is the biggest scammer and this is within their control. The financial system that been hit by this massive fraud in wall street. Oh, I forgot that mainstream media and the likes are on the same channel and part of this since they're the main information sources in our society.

Mind conditioning and paid news shelling is one of they're profiting from. Politics do control everything in this world and that's what we get from being a puppet of this corrupt and self centered public servants.

And that's why a truly decentralized system matters even more than the impact of the overall blockchain industry has doing today. We need to get rid of authoritarian villains who only seek to fulfill their only greedy and ambitious purposes. I hope, soon technology will bring us closer and closer to that stage of human society  ;D


Title: Re: The production of money... is SCAM!
Post by: GenesisDominguez on October 20, 2018, 02:51:46 AM
Its only normal imagining how often this type of money production has happened before. Seems like because they were close with the Government, they escaped by making money out of thin air.


Title: Re: The production of money... is SCAM!
Post by: Angelique Donovan on October 20, 2018, 04:00:17 AM
The governments were not controlling their country's money,it was controlled by their central banks. the government has no control over it so, why are they allowed? This sytem was founded in the 18th century and the system hasn't changed that drasitically as they are still following this system and they are making all the money to decrease in value over time. I could be wrong now and there could be even more factors playing a big part in this and if so, that can be further discussed.


Title: Re: The production of money... is SCAM!
Post by: Irvinn on October 20, 2018, 06:17:03 AM
I think everything is fine here. Cash or its equivalent in gold is stored in the Federal Reserve System, as has been said. To give money to the bank, it is not necessary to transport this money to them. They are kept in place, but a certain amount of non-cash transfer is transferred to this bank. The Federal Reserve System notes how much money is held by a particular bank. In the future, the bank may transfer some part of this amount further; a corresponding entry is again made about this until it is noted that the money has been returned back to the Federal Reserve System. This is how a cashless system works. Money works, although they are actually safe in place, it makes no sense to constantly carry and transfer them from hand to hand.


Title: Re: The production of money... is SCAM!
Post by: wuvdoll on October 20, 2018, 07:34:01 AM
The printing of money could be scam but "production" of money makes no sense at all. No one produce money at all, they print it for free and give it to the market and during the 2009 deal it was printed so that the money that just went up in smoke could be replaced and the market wouldn't cripple at once because of the bankrupt banks.

Obviously, it was no surprise that no one in those banks actually gotten any jail time or even a proper earful considering it should have been a real trouble for all of them but I guess that is what you expect the banks that control the governments to be saved by those same governments when they are in need as well.

If the banks fall than almost everyone in the world falls and than politicians wouldn't get the money they are getting from them as "lobbying".


Title: Re: The production of money... is SCAM!
Post by: coinplus on October 20, 2018, 10:05:01 AM


So he just literally admits they create the 85,000,000,000 usd out of nowhere to rescue the private company. This isn't the way capitalism should work and it's more like socialism where everybody takes the loses  >:(
precisely in this way, can trigger a country to experience a continuing crisis which will lead to hyperinflation.
Well, that is what the whole idea of centralization is all about which is more like stealing from Peter to pay Paul.
Scam all the way! That is what government has always been and that is what they will always be! Unfortunately those who suffer the repercussions of their decision making and monetary policies or spending’s eventually are those in the lower chain.

The funny thing though is that they always have a way of making people to believe what they want them to believe and that is actually what worries me the most, but well it stopped worrying me since bitcoin came into existence anyway. Let decentralization rule.


Title: Re: The production of money... is SCAM!
Post by: Mikeschmitt on October 20, 2018, 10:22:29 AM
The governments were not controlling their country's money,it's controlled by their central banks. The government is the biggest scammer and this is within their control. Mind conditioning and paid news shelling is one of their profiting from.


Title: Re: The production of money... is SCAM!
Post by: STT on October 20, 2018, 11:45:39 AM
Governments are basically controlling the supply of national money.   In theory USA keeps Federal reserve (other countries are more obvious perhaps) at a distance in theory private even not public ownership but in effect there is a massive influence from rising costs to Fiscal budgets every time interest rates rise.

I believe the figure is over a billion extra in interest for every one percent, it might be far worse then that but I dont have the figures to say exactly.

The FED themselves might be the best source for the stats though I would advise people to draw their own conclusions
Quote from: FED

Over 5 years does not constitute long term imo.    USA has one of the shortest average term debt in the world and its been lowered on purpose as this is actually cheaper to finance while rates are able to stay low.   The real sudden danger can be that rates have to rise and all the short term debt shifts dangerously into much higher costs.   If rates have to rise while the economy is not growing and tax revenue falls its an unstable and positive feedback situation where interest on the debt increases fiscal costs at the same time.   (Great cuts required to repay or control debt during a recession is quite unlikely)

Overall this implies great weakness in dollar.   I agree in theory the dollar might be laid out in a separated way but also the nature of the problem is likely the path of least resistance, which is that dollar loses a horrible amount of value under pressure

https://www.stlouisfed.org/publications/regional-economist/third-quarter-2018/rising-rates-borrowing-government


Title: Re: The production of money... is SCAM!
Post by: ColemanGentry on October 20, 2018, 05:05:35 PM
If you see it that way, the whole economic, financial, social, every sector is the part of scam. And the govt. itself isn't out of that. The production usually doesn't happen so random, and in crypto it's rare. So it's not scam, new money can be produced, but rarely.


Title: Re: The production of money... is SCAM!
Post by: zubrr51 on October 20, 2018, 05:13:18 PM
You can not print money endlessly. This approach is completely contrary to the laws of economics and will inevitably lead to a depreciation of the currency.


Title: Re: The production of money... is SCAM!
Post by: Micronometer on October 21, 2018, 05:34:34 PM
This was done for capitalism to work. We shouldn't go for a socialism vs capitalism debate. Further more we should discuss about how cryptos could change these fraudulent behaviours.


Title: Re: The production of money... is SCAM!
Post by: Angleworm on October 21, 2018, 05:35:28 PM
Governments have no control over central bank. And its very sad to see such kind of activites. But in my opinion our debate should confine between cryptocurrency related topic not capitalism and socialism.


Title: Re: The production of money... is SCAM!
Post by: Antinomist on October 21, 2018, 05:36:56 PM
This was done for capitalism to work. We shouldn't go for a socialism vs capitalism debate. Further more we should discuss about how cryptos could change these fraudulent behaviours.


Title: Re: The production of money... is SCAM!
Post by: Symptomatic on October 21, 2018, 05:37:54 PM
It's really sad to see. But this is how banks work and we can do nothing about it.


Title: Re: The production of money... is SCAM!
Post by: sublime5447 on October 21, 2018, 06:49:59 PM
I think that’s how a capitalist should be, where the big one will win and become bigger then the smaller one will be eliminated from competition, a capitalist will enjoy the hard work of people below its class. It seems you must relearn the basic economy, this is very important especially you are currently in a field that needs it. (http://rumahmu.com)


Title: Re: The production of money... is SCAM!
Post by: cellard on October 21, 2018, 07:42:26 PM
The governments were not controlling their country's money,it was controlled by their central banks. the government has no control over it so, why are they allowed? This sytem was founded in the 18th century and the system hasn't changed that drasitically as they are still following this system and they are making all the money to decrease in value over time. I could be wrong now and there could be even more factors playing a big part in this and if so, that can be further discussed.

The situation is now worse than ever. In the past at least we had a period of gold-backed money. Keynesians may point at how we've had so much growth in the past few years. But at what costs? The whole system is now out of hand because of the money printing helicopter QE's, governments don't want to let banks fail and they will keep getting bailed out which will just keep delaying the inevitable (and making it worse).

When we had gold backed money we didn't had these ridiculous fluctuations in unemployment we are seeing.

We need a culture of long term planning and not mindless consumerism which is what Keynesian politics deliver since money can just keep getting printed as needed instead of acknowledging limited resources and time, but this doesn't matter for deluded Keynesians.


Title: Re: The production of money... is SCAM!
Post by: usekevin on October 21, 2018, 07:50:27 PM
The government is the biggest scammer and this is within their control. The financial system that been hit by this massive fraud in wall street. Oh, I forgot that mainstream media and the likes are on the same channel and part of this since they're the main information sources in our society.

Mind conditioning and paid news shelling is one of they're profiting from.
To be honest the governments were not controlling their country's money,it is controlled by their central banks that is why we call it as central banks even the government has no control over it so why we are allowing them? This sytem was found in 18th century and the creators were still following this system ad they are making all our money to decrease its value over time.

The control over money is not in the hand of government.They appointment the additional body called central bank.They will had a power to print the currency and had a full control of that currency.During the inflation in the country ,they will increase the money flow.Then the inflation will be reduced some how.They are responsible for the control of currency.


Title: Re: The production of money... is SCAM!
Post by: LeGaulois on October 21, 2018, 08:37:58 PM
You can not print money endlessly. This approach is completely contrary to the laws of economics and will inevitably lead to a depreciation of the currency.

You can.
With the fractional reserve system, you can create money with the 1:9 ratio. The money doesn't exist. They just enter some numbers in people account. With the loans, banks basically make millions of dollars of profits for interested in money that doesn't exist. When you deposit money into your bank account, the money isn't your anymore,  You lent it to the bank with a promise from them that you can get your money back at any time


Title: Re: The production of money... is SCAM!
Post by: hildacitra on October 21, 2018, 10:17:18 PM
The government is the biggest scammer and this is within their control. The financial system that been hit by this massive fraud in wall street. Oh, I forgot that mainstream media and the likes are on the same channel and part of this since they're the main information sources in our society.

Mind conditioning and paid news shelling is one of they're profiting from. Politics do control everything in this world and that's what we get from being a puppet of this corrupt and self centered public servants.

That is probably true. As we know that government has all the instruments to make a scam and control the situation including economical issue. The main instrument that extremely becoming influential is that press. Through press government can control the public issue and main setting.


Title: Re: The production of money... is SCAM!
Post by: jcarlo on October 22, 2018, 12:17:15 AM
Just after the financial crisis in 2009, the journalist Scott Pelley asked Ben Bernanke on the 60 minutes CBS TV show where did they get the money for the AIG bailout in march 14, 2009? was these money of the taxpayer people?

He just said:"No. It isn't money from the taxpayers. The banks has it's own accounts with the Federal Reserve as well as you can have one with one commercial bank."

He continued: "In such way, to loan to a bank, one just simply uses the computer to mark up the size of the account they had with the Federal Reserve"

So he just literally admits they create the 85,000,000,000 usd out of nowhere to rescue the private company. This isn't the way capitalism should work and it's more like socialism where everybody takes the loses  >:(

Thats why central banks do not like and afraid with cryptocurrency like bitcoin. Bitcoin creating a transparancy in financial system and no one can change the data supply and transaction.


Title: Re: The production of money... is SCAM!
Post by: fauzan Ichsan on October 22, 2018, 03:53:32 AM
Just after the financial crisis in 2009, the journalist Scott Pelley asked Ben Bernanke on the 60 minutes CBS TV show where did they get the money for the AIG bailout in march 14, 2009? was these money of the taxpayer people?

He just said:"No. It isn't money from the taxpayers. The banks has it's own accounts with the Federal Reserve as well as you can have one with one commercial bank."

He continued: "In such way, to loan to a bank, one just simply uses the computer to mark up the size of the account they had with the Federal Reserve"

So he just literally admits they create the 85,000,000,000 usd out of nowhere to rescue the private company. This isn't the way capitalism should work and it's more like socialism where everybody takes the loses  >:(

Thats why central banks do not like and afraid with cryptocurrency like bitcoin. Bitcoin creating a transparancy in financial system and no one can change the data supply and transaction.
of course government is in control of center of government, when central bank is well established, and there is a system that is contrary to it. then it's not easy to accept it immediately


Title: Re: The production of money... is SCAM!
Post by: prtty2gal2 on October 22, 2018, 09:26:12 AM
Just after the financial crisis in 2009, the journalist Scott Pelley asked Ben Bernanke on the 60 minutes CBS TV show where did they get the money for the AIG bailout in march 14, 2009? was these money of the taxpayer people?

He just said:"No. It isn't money from the taxpayers. The banks has it's own accounts with the Federal Reserve as well as you can have one with one commercial bank."

He continued: "In such way, to loan to a bank, one just simply uses the computer to mark up the size of the account they had with the Federal Reserve"

So he just literally admits they create the 85,000,000,000 usd out of nowhere to rescue the private company. This isn't the way capitalism should work and it's more like socialism where everybody takes the loses  >:(
Like you just know. How do you think sometimes, you just see some economic crisis happening, inflation kicking in and then the masses suffering for it. If you are looking for the biggest scammers in the whole world, government is the first to think about.

As in, just imagine. I see this as a world in which monopoly reigns and then you just see things being done out of the blues that are so questionable but since they just find a way to bamboozle everybody, matters tend to die down.


Title: Re: The production of money... is SCAM!
Post by: vasilev456 on October 22, 2018, 09:48:54 AM
This same state, it seems to me in terms of printing money is no difference whether it is socialism or capitalism.  If the state needs it, it will simply create them!


Title: Re: The production of money... is SCAM!
Post by: Dodoymabs on October 22, 2018, 10:38:53 AM
Just after the financial crisis in 2009, the journalist Scott Pelley asked Ben Bernanke on the 60 minutes CBS TV show where did they get the money for the AIG bailout in march 14, 2009? was these money of the taxpayer people?

He just said:"No. It isn't money from the taxpayers. The banks has it's own accounts with the Federal Reserve as well as you can have one with one commercial bank."

He continued: "In such way, to loan to a bank, one just simply uses the computer to mark up the size of the account they had with the Federal Reserve"

So he just literally admits they create the 85,000,000,000 usd out of nowhere to rescue the private company. This isn't the way capitalism should work and it's more like socialism where everybody takes the loses  >:(

Thats why central banks do not like and afraid with cryptocurrency like bitcoin. Bitcoin creating a transparancy in financial system and no one can change the data supply and transaction.
of course government is in control of center of government, when central bank is well established, and there is a system that is contrary to it. then it's not easy to accept it immediately

As we can slowly observed, cryptoccurrencies are being studied by the government and wanted to make some ways to somehow be more useful and just go with the flow of what the technology's main purpose. It is not that they don't accept, but finding the best solution to solve the problem in the community.


Title: Re: The production of money... is SCAM!
Post by: bitcoincitr on October 22, 2018, 08:58:00 PM
In every country, government is the biggest player and wouldn’t lose its control. Most of fiat money doesn't exist physically, only in a database, money is made from nothing, and literally bitcoin is used for decades. The main argument now “is it kept centralized or not?”.


Title: Re: The production of money... is SCAM!
Post by: ngano ba on October 22, 2018, 09:11:48 PM
The production of money in every country is not scam because there are appropriate value of the national treasury in making and producing money , because if the country intend tobproduce many money ,this will make the goods have high prices because there are a lot of supply of money in that country.


Title: Re: The production of money... is SCAM!
Post by: BitHodler on October 22, 2018, 11:51:03 PM
When you deposit money into your bank account, the money isn't your anymore,  You lent it to the bank with a promise from them that you can get your money back at any time
Most people don't trust themselves to take care of fund storage. In their world it's much saver to have a bank take care of their funds than themselves, and they technically aren't even wrong in that regard.

If you only have a few thousand dollars in savings you can hide it somewhere yourself, but what if you have like $250k or more? No one in his right mind would want such a large amount of money to be sitting at home.

Bitcoin is a great way to hedge a part of your net worth, but you can't go all in for obvious reasons, so there you have the bank pop up again. We depend on them more than most people think they do.


Title: Re: The production of money... is SCAM!
Post by: Burogh on October 23, 2018, 12:12:35 AM
USA Central banks or the FED always print paper money because they are realize USD needed in global market and USD is global currency. They print from thin air and from what i am read, they never audited and always refuse when kongress want to.


Title: Re: The production of money... is SCAM!
Post by: spongegar on October 23, 2018, 01:14:39 AM
Come on! Do we need proof that the government is actually screwing us over? Time and time again, these "elite" powers in the financial industry and government ca solve all the problems of the masses with a snap of a finger yet they don't simply because they'll operate on a loss rather than have an income over it.


Title: Re: The production of money... is SCAM!
Post by: KingdomHearts on October 26, 2018, 05:26:15 AM
You can not print money endlessly. This approach is completely contrary to the laws of economics and will inevitably lead to a depreciation of the currency.
Of course the solution is never the printing of money for ultimately it results in the inflation and in many cases the hyper inflation and since every country knows it is not easy to deal with the hyper inflation, they keep a limit to the printing money.

Something that can promote the GDP of your country is the production of goods and services and this helps tackle both inflation as well as unemployment and ultimately enhance exports which further results in a surplus balance of payments.


Title: Re: The production of money... is SCAM!
Post by: squog on November 13, 2018, 04:29:50 AM
I don't think it is actually in thin air. Such an amount is ridiculously huge that it could damage the marekt even more if such an amount was allowed to circulate. But i digress, we should know that the people who made the market collapse in 2009, is still the same ones in the market and even the government.


Title: Re: The production of money... is SCAM!
Post by: rez303 on November 17, 2018, 04:09:12 PM
The production of money is not a scam. Money production is allowed only when the country is short of funds or they want to reduce their currency value. The value of a country is always well understood by the organization and any action taken by each country is closely monitored. So I do not think it's a scam.


Title: Re: The production of money... is SCAM!
Post by: Yara1 on November 17, 2018, 05:15:27 PM
No it does not literary mean that the money is created out of no where what it means is that banks are made to deposits certain amount of money with the federal reserve in case of future emergency so that loans and bail out can be generated from there to eas the situation.


Title: Re: The production of money... is SCAM!
Post by: Indamuck on November 17, 2018, 06:52:44 PM
Money is just an illusion. It's a way to keep us in slavery.  The elites can't type any number into a computer screen that they want.  They essentially have unlimited money and can do almost anything they wish.  The citizens are the ones that give money it's power by supporting it.  If we all came together and declared the USD worthless it would collapse.  It is just a faith based system.


Title: Re: The production of money... is SCAM!
Post by: Bitfling on November 18, 2018, 01:23:49 AM
America different with others country in the world. The Fed can always print money or adding more digits on their account because US Dollars used in the world for commodities transaction. Its true that the production of US Dollar is a scam but its happen because the world use Dollars as main currency for transaction


Title: Re: The production of money... is SCAM!
Post by: okala on November 18, 2018, 06:18:47 AM
The capitalism system of governments we are running is a scam and bank is the most manipulated sectors we have. That is why bank is against cryptocurrencies and blockchain technology.  The blockchain technology bring transparent into the financial system and bank including central one did not like a decentralized system were they did not have control over.


Title: Re: The production of money... is SCAM!
Post by: CASTIEL05 on November 18, 2018, 06:42:30 AM
The government is the biggest scammer and this is within their control. The financial system that been hit by this massive fraud in wall street. Oh, I forgot that mainstream media and the likes are on the same channel and part of this since they're the main information sources in our society.

Mind conditioning and paid news shelling is one of they're profiting from.
To be honest the governments were not controlling their country's money,it is controlled by their central banks that is why we call it as central banks even the government has no control over it so why we are allowing them? This sytem was found in 18th century and the creators were still following this system ad they are making all our money to decrease its value over time.
Really? I don't know who controls the money in the world and why does it lessen the value when time goes by. But I assure that governments are still in control of money since banks and government are one.
Central Banks controlled the money to circulate in economy because of inflation. They prevent the economy to experience inflation. Banks regulate the money so that the economy become stable in a long run.


Title: Re: The production of money... is SCAM!
Post by: Indrawan77 on November 18, 2018, 07:30:46 AM
Yeah there is so many flaw in the fiat system and each year the fiat rescue no one because the inflation is keep on rising, the more government act the worse the condition become, that is why some people doesn't want to invest in fiat anymore because the interest is way down than the inflation, crypto is the best solution for this money scam, in bitcoin there are no one could print any bitcoin anymore and inflation doesn't affect on bitcoin


Title: Re: The production of money... is SCAM!
Post by: Neilobit on November 18, 2018, 09:16:45 AM
The Government prints money to exit scam :D ;D


Title: Re: The production of money... is SCAM!
Post by: junglist.massive on December 08, 2018, 10:18:16 AM
Doing things like this is natural for them, it would seem reasonable to consider the impact will give a strong influence. The disgrace of the government and everything in the country shouldn’t spread widely as much as possible because it will affect the government's agenda, whether its obstruction or break the news chain openly or subtly and therefore there is the term "too big to fail".
Like it or not that's what happened, what ca (http://hafana.com)n you do?


Title: Re: The production of money... is SCAM!
Post by: Thanasis on December 08, 2018, 01:56:26 PM
The Government prints money to exit scam :D ;D
No they were making money from nothing,so they are getting benefits from us by paying some paper printed with some leader faces,they made us to believe that this paper has worth but actually not.


Title: Re: The production of money... is SCAM!
Post by: jademaxxiss012 on December 08, 2018, 04:14:41 PM
Really, but the question is that how they were able to cover this or able to do things in the process of the clients know about this? Anyway all thing that work in a bank institutions are confidentials and that person is right it could jist made up to save the company. This is what happening to ICO project noe and only few made out successfully.


Title: Re: The production of money... is SCAM!
Post by: Indamuck on December 08, 2018, 04:31:42 PM
Money is the biggest conspiracy ever created.  99 % of people will do anything to get lots of money.  We are all enslaved to the dollar, the bankers are laughing at us like the dump sheep we really are.  Maybe one day people will wake up and realize this whole fiat banking system is a complete scam.


Title: Re: The production of money... is SCAM!
Post by: greeklogos on December 08, 2018, 04:58:11 PM
Everyone will understand, if just think a little bit, that all of us in the government's game in the sense of finances. Banking system is totally depends from the government and the only thing they do is tap the number of money on our account. But all those fees, and % are real money from our wallet's. We simply feed them.


Title: Re: The production of money... is SCAM!
Post by: cahbagus555 on December 09, 2018, 02:47:47 AM
Economic crisis always happen because central banks can not control the money supply. Its begin with interest rate. When economic start growing, central banks raising interest rate and they said to control inflation but in other side, bussiness world will suffering because paying more interest rate on their loan.


Title: Re: The production of money... is SCAM!
Post by: andriarto on December 09, 2018, 06:49:32 AM
Economic crisis always happen because central banks can not control the money supply. Its begin with interest rate. When economic start growing, central banks raising interest rate and they said to control inflation but in other side, bussiness world will suffering because paying more interest rate on their loan.
for those who pursue the world of entrepreneurship, of course, feeling that this condition is, indeed, with an increase in higher interest rates will certainly reduce income, because we still bear other burdens such as taxes


Title: Re: The production of money... is SCAM!
Post by: Tylev on May 09, 2019, 07:28:21 AM
The dollar is generally a very peculiar currency, since it has not been supported by gold reserves of the USA since the seventies. Nevertheless, other national money of the states is supported by them and mainly reflects the state of the country's economy. In general, cash is not a scam, but a science of economics. Another thing is that governments always lack the funds for the implementation of their projects and they often print cash more than is necessary to maintain the balance of the economy and this causes inflation.


Title: Re: The production of money... is SCAM!
Post by: guoyu78 on May 10, 2019, 12:39:42 PM
Just after the financial crisis in 2009, the journalist Scott Pelley asked Ben Bernanke on the 60 minutes CBS TV show where did they get the money for the AIG bailout in march 14, 2009? was these money of the taxpayer people?

He just said:"No. It isn't money from the taxpayers. The banks has it's own accounts with the Federal Reserve as well as you can have one with one commercial bank."

He continued: "In such way, to loan to a bank, one just simply uses the computer to mark up the size of the account they had with the Federal Reserve"

So he just literally admits they create the 85,000,000,000 usd out of nowhere to rescue the private company. This isn't the way capitalism should work and it's more like socialism where everybody takes the loses  >:(
I don't know where you got that from,  but one thing for sure is that no one has the right to print money except the government and the government does not just print money, because printing money will decrease the value of the country's currency.

There are times that the government can print money,  they don't just print money for no reason,  there is always a reason when they decide to print, unless that government has decided to be useless and destroy the value of the country currency which, doesn't make any sense.


Title: Re: The production of money... is SCAM!
Post by: yesyes18 on May 30, 2019, 11:24:27 PM
lol, that's what the central banks are known fkr buddy and funny enough, te European Union Central Bank made a tweet sometime ago that aa a Central Bank, they can print money as and when they can. So I wouldn't be surprised if America is doing it. My only problem is that not all countries are like that.


Title: Re: The production of money... is SCAM!
Post by: Aligab166 on May 30, 2019, 11:52:20 PM
Just after the financial crisis in 2009, the journalist Scott Pelley asked Ben Bernanke on the 60 minutes CBS TV show where did they get the money for the AIG bailout in march 14, 2009? was these money of the taxpayer people?

He just said:"No. It isn't money from the taxpayers. The banks has it's own accounts with the Federal Reserve as well as you can have one with one commercial bank."

He continued: "In such way, to loan to a bank, one just simply uses the computer to mark up the size of the account they had with the Federal Reserve"

So he just literally admits they create the 85,000,000,000 usd out of nowhere to rescue the private company. This isn't the way capitalism should work and it's more like socialism where everybody takes the loses  >:(
This scenario of money just being generated or created simply with the use  of computers is also what cryptocurrency is all about. Anyone just creates his own coin. If you call money production scam, what would you call cryptocurrency?


Title: Re: The production of money... is SCAM!
Post by: ajaymukund on May 31, 2019, 03:49:10 AM
Just after the financial crisis in 2009, the journalist Scott Pelley asked Ben Bernanke on the 60 minutes CBS TV show where did they get the money for the AIG bailout in march 14, 2009? was these money of the taxpayer people?

He just said:"No. It isn't money from the taxpayers. The banks has it's own accounts with the Federal Reserve as well as you can have one with one commercial bank."

He continued: "In such way, to loan to a bank, one just simply uses the computer to mark up the size of the account they had with the Federal Reserve"

So he just literally admits they create the 85,000,000,000 usd out of nowhere to rescue the private company. This isn't the way capitalism should work and it's more like socialism where everybody takes the loses  >:(
I really do not understand much about the political situation of some countries but I know that it is their strategy, they are trying to help the country grow again. I think governments should still have a reserve fund, but it should not get into the hands of corrupt people.
In my opinion, their actions are absolutely correct. If you take that $ 85 million and distribute it to the people, who will adjust the economy?
The problem always has two sides of it. Don't rush to judge and think negatively.


Title: Re: The production of money... is SCAM!
Post by: Xampeuu on May 31, 2019, 04:17:20 AM
I can catch your point, I think that might happen to those who have strength in that circle. from the description above, it is indeed difficult to distinguish between the actions of capitalism or socialism



Title: Re: The production of money... is SCAM!
Post by: whirlcoin on May 31, 2019, 05:48:38 AM
Just after the financial crisis in 2009, the journalist Scott Pelley asked Ben Bernanke on the 60 minutes CBS TV show where did they get the money for the AIG bailout in march 14, 2009? was these money of the taxpayer people?

He just said:"No. It isn't money from the taxpayers. The banks has it's own accounts with the Federal Reserve as well as you can have one with one commercial bank."

He continued: "In such way, to loan to a bank, one just simply uses the computer to mark up the size of the account they had with the Federal Reserve"

So he just literally admits they create the 85,000,000,000 usd out of nowhere to rescue the private company. This isn't the way capitalism should work and it's more like socialism where everybody takes the loses  >:(
in the world 10 days the money will not be play the role of the economy but in the today's situation without money nothing is possible this changes will came only in short period of time because of the people who made the money will give the importance for the money more than anything that's why it will be e the important one in this world.


Title: Re: The production of money... is SCAM!
Post by: nerlial on May 31, 2019, 06:07:09 AM
It is quite normal to do this in a hopeless situation. I think it was the most painless way to avoid even more problems.


Title: Re: The production of money... is SCAM!
Post by: Marry Finch on May 31, 2019, 06:12:36 AM
No, national cash and non-cash money of various states cannot be called a scam. This is a branch of science with the name of the economy, which has been improving for many centuries. Another thing is that some governments and their central banks abuse the right to print paper money, which periodically leads to inflation. However, controlled inflation is also needed by society.
Cryptocurrency is a payment system of a completely different order, which is not capable of replacing the national money of states.


Title: Re: The production of money... is SCAM!
Post by: Naida_BR on May 31, 2019, 04:56:12 PM
Just after the financial crisis in 2009, the journalist Scott Pelley asked Ben Bernanke on the 60 minutes CBS TV show where did they get the money for the AIG bailout in march 14, 2009? was these money of the taxpayer people?

He just said:"No. It isn't money from the taxpayers. The banks has it's own accounts with the Federal Reserve as well as you can have one with one commercial bank."

He continued: "In such way, to loan to a bank, one just simply uses the computer to mark up the size of the account they had with the Federal Reserve"

So he just literally admits they create the 85,000,000,000 usd out of nowhere to rescue the private company. This isn't the way capitalism should work and it's more like socialism where everybody takes the loses  >:(

This case was known since 2009.
Always bailouts come from money printing that it is not relied to anything actually. It is just a way to inject more cash in the economy, but this cash is not created from any activity. Also, when more money is created the reserves lose value, leading to an economic collapse after some years.


Title: Re: The production of money... is SCAM!
Post by: 1Referee on May 31, 2019, 05:12:45 PM
It is quite normal to do this in a hopeless situation. I think it was the most painless way to avoid even more problems.
The most painless way? No amount of money printing actually solves long term problems. All it does is just buy you some time in the short term, but the underlying problems that will hit you hard at a later point are still present, but certainly not pretty. If you want to know what not pretty means, then look at what's happening in Venezuela and in the continent of Africa.

Cryptocurrency is a payment system of a completely different order, which is not capable of replacing the national money of states.
Bitcoin doesn't have to replace fiat, it just needs to work and provide a decent enough alternative to fiat. A healthy balance in use between Bitcoin and fiat is what I consider a realistic goal. Bitcoin can't scale enough to serve a whole world. I don't think even a fully deployed Lightning Network would be sufficient to do so. We have to accept that decentralized networks have their limitations.


Title: Re: The production of money... is SCAM!
Post by: Adriano2010 on May 31, 2019, 08:17:11 PM
Is not a scam but the problem is if there are a lot of money printing that will make inflation and will not solve the problem of economy in long time so governments better try to solve economy problems on another way.


Title: Re: The production of money... is SCAM!
Post by: jvdp on May 31, 2019, 09:04:27 PM
Is not a scam but the problem is if there are a lot of money printing that will make inflation and will not solve the problem of economy in long time so governments better try to solve economy problems on another way.

But these government take any actions at the intial stage itself to solve the problems. Then purely economy based on the development of business which does not affect your own human resources and yield profits many times.
Most of the government does not have that way to make the money, printing extra notes will never change anything.


Title: Re: The production of money... is SCAM!
Post by: STT on May 31, 2019, 09:58:14 PM
It is quite normal to do this in a hopeless situation. I think it was the most painless way to avoid even more problems.

The least painful way is the quickest solution which would be to resolve debt correctly.  What happened dragged out the crisis from 2008 into the next twenty years it looks like.  If you are not confident that is the case then examine the debt on Greece (as an extreme but underlying the nature of many bailouts) which is still repaying money spent on their olympics bid of 2000 and the structures built in that time are not used currently.   That debt was raised while misreporting data, they joined the EURO while not being eligible under the terms agreed in that union.   Its easily a failure situation where the debt does not return 100% of value.

Instead of correctly accounting for failure the debt was resolved to pay back over many decades which means generations who were not alive when the money was borrowed will be submitting wages to pay off a mistake they were never involved in.    The biggest reason not to magically fix all debt no matter how bad is that it lowers growth long term, this has been reflected in lower wage growth and purchasing power since 2000 for many countries including some of the richest in the world.    None of these measures reflect capitalism, its a failure to respect the system which has delivered growth for so long and instead we saved politics from difficult decisions instead and the people pay.


Title: Re: The production of money... is SCAM!
Post by: awik p on June 01, 2019, 03:41:24 AM
Is not a scam but the problem is if there are a lot of money printing that will make inflation and will not solve the problem of economy in long time so governments better try to solve economy problems on another way.

But these government take any actions at the intial stage itself to solve the problems. Then purely economy based on the development of business which does not affect your own human resources and yield profits many times.
Most of the government does not have that way to make the money, printing extra notes will never change anything.
human resources are an important point to achieve a country's economic growth, printing more money will not solve the problem, I think by reviving all aspects of the economy, it can be the best solution



Title: Re: The production of money... is SCAM!
Post by: munareal on June 01, 2019, 07:27:47 AM
The government is supposed to control Central Banks of its nation but the reverse is the case. Central banks are independent government entities that are supposed to create monetary policies and regulations of other banks. Their actions affect the nation's economy but for selfish reasons, they operate on conspiracy theory by changing the supply of money in circulation which brings inflation and unemployment which affects the citizens negatively.


Title: Re: The production of money... is SCAM!
Post by: Kevin77 on June 01, 2019, 08:23:32 AM
Inflation does have a good intentions so printing or "production" of money can be seen alright as long as our politicians do everything according to how it should be. The sad part is in almost all countries on earth the politicians are corrupt, they are not liked by anyone and doesn't matter who runs the country, everyone at every stage gets a trouble.

Normally, inflation should be a thing then the government should print money to cover the difference, then that money should be spent for governmental stuff like helping out farmers, education, health and so forth and make people spend less on those things, which means a regular citizen even without getting one dollar help directly will spend less on food because of help farmers got, will spend less for education and will not spend money on hospitals even if got sick, which means that person got a lot of help even if not directly. Yet our politicians give that money to rich and tell them to help the poor which never happens.


Title: Re: The production of money... is SCAM!
Post by: coolcoinz on June 01, 2019, 10:03:27 AM
Inflation does have a good intentions so printing or "production" of money can be seen alright as long as our politicians do everything according to how it should be. The sad part is in almost all countries on earth the politicians are corrupt, they are not liked by anyone and doesn't matter who runs the country, everyone at every stage gets a trouble.

What good intentions are those? Inflation is a side effect, it doesn't have intentions on its own. It's a process, just like a bull market in stocks. A bull market doesn't have intentions. It's just there.

Quote
Normally, inflation should be a thing then the government should print money to cover the difference, then that money should be spent for governmental stuff like helping out farmers, education, health and so forth and make people spend less on those things, which means a regular citizen even without getting one dollar help directly will spend less on food because of help farmers got, will spend less for education and will not spend money on hospitals even if got sick, which means that person got a lot of help even if not directly. Yet our politicians give that money to rich and tell them to help the poor which never happens.

Inflation is a thing BECAUSE the money is being printed. Money printing is not the solution to inflation, it's the cause!


Title: Re: The production of money... is SCAM!
Post by: Shenzou on June 01, 2019, 09:08:43 PM
Just after the financial crisis in 2009, the journalist Scott Pelley asked Ben Bernanke on the 60 minutes CBS TV show where did they get the money for the AIG bailout in march 14, 2009? was these money of the taxpayer people?

He just said:"No. It isn't money from the taxpayers. The banks has it's own accounts with the Federal Reserve as well as you can have one with one commercial bank."

He continued: "In such way, to loan to a bank, one just simply uses the computer to mark up the size of the account they had with the Federal Reserve"

So he just literally admits they create the 85,000,000,000 usd out of nowhere to rescue the private company. This isn't the way capitalism should work and it's more like socialism where everybody takes the loses  >:(
The whole idea of printing money without anything backing it was dumb at first, it already gave governments  more power than they would need making them control our lives and our freedom, and what makes it even worse is whenever they fuck with their economical strategies and decision they just reside to printing money thinking that it would resolve the situation, i mean look at what happend in Zimbabwe where their currency infatuate and became worthless and Argentina and other countries are doing the same, if this keeps happening we might see another financial crisis. 


Title: Re: The production of money... is SCAM!
Post by: breathlessz on June 02, 2019, 07:52:32 AM
Just after the financial crisis in 2009, the journalist Scott Pelley asked Ben Bernanke on the 60 minutes CBS TV show where did they get the money for the AIG bailout in march 14, 2009? was these money of the taxpayer people?

He just said:"No. It isn't money from the taxpayers. The banks has it's own accounts with the Federal Reserve as well as you can have one with one commercial bank."

He continued: "In such way, to loan to a bank, one just simply uses the computer to mark up the size of the account they had with the Federal Reserve"

So he just literally admits they create the 85,000,000,000 usd out of nowhere to rescue the private company. This isn't the way capitalism should work and it's more like socialism where everybody takes the loses  >:(
The whole idea of printing money without anything backing it was dumb at first, it already gave governments  more power than they would need making them control our lives and our freedom, and what makes it even worse is whenever they fuck with their economical strategies and decision they just reside to printing money thinking that it would resolve the situation, i mean look at what happend in Zimbabwe where their currency infatuate and became worthless and Argentina and other countries are doing the same, if this keeps happening we might see another financial crisis. 
without controlling money printing, it will certainly result in the value of the currency being worthless, just like the country you mentioned, it is one example of a country that fails to control the production of money


Title: Re: The production of money... is SCAM!
Post by: Ucy on June 02, 2019, 01:47:55 PM
Is Federal Reserve thesame as central bank? I know the name is for some sort of entity that controls other banks in the US ,which is quite similar to Central Bank as it is called where I live.


I guess the right words should be "printing money in non-transparent & unaccountable manner and for unproductive things, is scam


Title: Re: The production of money... is SCAM!
Post by: Nellayar on June 02, 2019, 02:48:28 PM
The government is the biggest scammer and this is within their control. The financial system that been hit by this massive fraud in wall street. Oh, I forgot that mainstream media and the likes are on the same channel and part of this since they're the main information sources in our society.

Mind conditioning and paid news shelling is one of they're profiting from. Politics do control everything in this world and that's what we get from being a puppet of this corrupt and self centered public servants.
We are just believing that government is the most reliable institution when it comes in safeguards but that is really wrong in my perspective. According to political scienve people as well as the pragmatic people, government officials are corrupted. So, basically they are the scammers and printing of money is just a tool for them to execute their plans.


Title: Re: The production of money... is SCAM!
Post by: Ibizugbe1 on June 02, 2019, 07:46:39 PM
The federal reserve bank and the central banks are nothing but fraud. They are responsible for the economic instability all over the world. The bank borrows out money they don't have, they just print legalized counterfeit. I once worked in the bank as a contract staff, part of my job was take keep customers documents. The bank use loans to financially bankrupt citizens and at the end they will look wretched. I resigned out of anger.


Title: Re: The production of money... is SCAM!
Post by: pinkpanther03 on June 04, 2019, 05:19:10 AM
The production of money is not a scam. It's part of the system that were put in place years ago. For sure there were good reasons why this cash system had been setup. We all benefit with the cash system. But, other people take advantage of the situation including manipulation, graft, and corruption. These are just some of the reasons why cash system brings problems with other people. Same thing here with cryptocurrency. The concept of blockchain and decentralization is great, but other people take advatage and ruining these concepts.


Title: Re: The production of money... is SCAM!
Post by: mersal on June 04, 2019, 06:00:11 AM
Keep printing Fiat money more and more every year is does the scam and it needs to be controlled if we want to have the real value for the fiat money.


Title: Re: The production of money... is SCAM!
Post by: Kimonoe on June 04, 2019, 08:29:38 AM
The production of money is not a scam. It's part of the system that were put in place years ago. For sure there were good reasons why this cash system had been setup. We all benefit with the cash system. But, other people take advantage of the situation including manipulation, graft, and corruption. These are just some of the reasons why cash system brings problems with other people. Same thing here with cryptocurrency. The concept of blockchain and decentralization is great, but other people take advatage and ruining these concepts.
of course the production of money by adhering to the economic regulations needed. as long as it is still in the applicable regulations, of course the production of money is still under control and does not reduce its value


Title: Re: The production of money... is SCAM!
Post by: davinchi on June 07, 2019, 03:05:58 PM
The reality is that banks ask for interest yet there is not enough interest go around the people they give loans to and that results with more money getting printed.

Think about it if a bank loans 100 bucks to two people and asks 110 back from both of them there is 200 given out but 220 asked for which means that 20 bucks were never really given out but still asked for which makes sure that one of them will stay in debt if the other one pays. That type of system is the reason why printing of money is required and mandatory otherwise all of the world will be in debt (it already is) and there would be no way for anyone to pay their money back.

Governments print out money so that everyone could pay their debt and can live otherwise we would go into debt as whole nations and become Venezuela or Greece.


Title: Re: The production of money... is SCAM!
Post by: Leyss on June 13, 2019, 07:33:12 PM

This is not to say that printing paper money is a scam. This process should be clearly controlled and interrelated with the development of the economy of each state. The dollar stands apart here, since it has not been secured since the seventies of the last century. In general, other states are watching the amount of new paper money being issued, because their greater number leads to an increase in inflation in the country.


Title: Re: The production of money... is SCAM!
Post by: Mahanton on June 13, 2019, 08:55:00 PM
Printing money isn't really literally a scam but if it do come already into a point where printing goes excessive and uncontrollable then
we do able to preview into our minds on what would happen and for sure we would really picture out Venezuela on that matter.


Title: Re: The production of money... is SCAM!
Post by: iv4n on June 14, 2019, 07:41:18 AM
The entire system is one big scam! All of them! One big group of scammers, they work together to keep the people enslaved. Governments, banks, religions! They help each other and that`s why in this system rich people are getting richer, poor people stay poor!
Half of the world's wealth now is in hands of 1% of the people! Is this possible? And what they do with all that money? They create imaginary wars, where innocent people die. They control people with money, television, the internet.
It`s time for a new system! Short bankers, long bitcoin!


Title: Re: The production of money... is SCAM!
Post by: slaman29 on June 14, 2019, 09:41:20 AM

This is not to say that printing paper money is a scam. This process should be clearly controlled and interrelated with the development of the economy of each state. The dollar stands apart here, since it has not been secured since the seventies of the last century. In general, other states are watching the amount of new paper money being issued, because their greater number leads to an increase in inflation in the country.

Yeah, to be honest I'm sick of hearing all the time people just bashing the banks and bashing paper money and yet at the end of the day they're trading in their crypto for fiat and then keeping all their wealth in dollars and fiat anyway.

The system was made there for the economy and yes it has its flaws, and hopefully one day Bitcoin improves that slowly and gives people an alternative way to have and to use money.

Buffett likes to say Bitcoin is created out of thin air so it's a scam, he's using the same exact logic as saying money production is a complete scam too!


Title: Re: The production of money... is SCAM!
Post by: tonyja2017 on June 14, 2019, 11:12:44 AM
First I want to say, printing money is not a scam. But anyway, the US government really did their job well. they helped the US economy to return to normal. that's what people expect so much. We should not have positive thoughts about government, trust them and let them solve things in the best way.


Title: Re: The production of money... is SCAM!
Post by: BitHodler on June 14, 2019, 12:53:36 PM
Buffett likes to say Bitcoin is created out of thin air so it's a scam, he's using the same exact logic as saying money production is a complete scam too!
It's super flawed. Bitcoin can't be created out of thin air, not even back in the early CPU mining days. It has always required some form of computational effort to mine Bitcoin, and that has only increased today.

Fiat, as long as it doesn't come in paper or coin form, is what can be seen as a true scam by that logic. It literally only takes a few presses on your numeric keypad and a few mouse clicks to digitally print any amount you want.

I'm sure he's well aware of that, he's just playing dumb. His main problem with Bitcoin and even with gold is that these assets don't have a profit and revenue stream, but also don't allow him to earn anything in form of dividends.


Title: Re: The production of money... is SCAM!
Post by: XFlowZion on June 14, 2019, 01:07:37 PM
Just after the financial crisis in 2009, the journalist Scott Pelley asked Ben Bernanke on the 60 minutes CBS TV show where did they get the money for the AIG bailout in march 14, 2009? was these money of the taxpayer people?

He just said:"No. It isn't money from the taxpayers. The banks has it's own accounts with the Federal Reserve as well as you can have one with one commercial bank."

He continued: "In such way, to loan to a bank, one just simply uses the computer to mark up the size of the account they had with the Federal Reserve"

So he just literally admits they create the 85,000,000,000 usd out of nowhere to rescue the private company. This isn't the way capitalism should work and it's more like socialism where everybody takes the loses  >:(



Apparently, that is the real MAGIC my friend. That is how the rich and powerful people make us all, that are below the system look stupid for all our lives. Whenever they need a lot of money, they just create it while us in the poor sector is going to sacrifice for what  they did by means of inflation. Bank is the real enemy and I can't wait for bitcoin to make their operation shutdown entirely.


Title: Re: The production of money... is SCAM!
Post by: whyrqa-1 on June 14, 2019, 06:19:24 PM
Just after the financial crisis in 2009, the journalist Scott Pelley asked Ben Bernanke on the 60 minutes CBS TV show where did they get the money for the AIG bailout in march 14, 2009? was these money of the taxpayer people?

He just said:"No. It isn't money from the taxpayers. The banks has it's own accounts with the Federal Reserve as well as you can have one with one commercial bank."

He continued: "In such way, to loan to a bank, one just simply uses the computer to mark up the size of the account they had with the Federal Reserve"

So he just literally admits they create the 85,000,000,000 usd out of nowhere to rescue the private company. This isn't the way capitalism should work and it's more like socialism where everybody takes the loses  >:(



Apparently, that is the real MAGIC my friend. That is how the rich and powerful people make us all, that are below the system look stupid for all our lives. Whenever they need a lot of money, they just create it while us in the poor sector is going to sacrifice for what  they did by means of inflation. Bank is the real enemy and I can't wait for bitcoin to make their operation shutdown entirely.
Today, in many situations, the banking system can help humanity, but not only the banking system, but also citizens, as well as businesses that use their services, are more abused.  I have repeatedly stated that if we do not go to the bank, no one can make us do it.  Based on this, it can be assumed that in most cases we ourselves are the sources of our own problems.


Title: Re: The production of money... is SCAM!
Post by: Suslura on June 16, 2019, 03:08:04 PM
The only problem that today does not allow full use of cryptocurrency is the place of banks, state legalization of cryptocurrency in the world.  If a user starts using cryptocurrency and transferring significant amounts, he will always have questions about the sources of taxation income.


Title: Re: The production of money... is SCAM!
Post by: fullhdpixel on June 17, 2019, 06:29:08 AM
Just after the financial crisis in 2009, the journalist Scott Pelley asked Ben Bernanke on the 60 minutes CBS TV show where did they get the money for the AIG bailout in march 14, 2009? was these money of the taxpayer people?

He just said:"No. It isn't money from the taxpayers. The banks has it's own accounts with the Federal Reserve as well as you can have one with one commercial bank."

He continued: "In such way, to loan to a bank, one just simply uses the computer to mark up the size of the account they had with the Federal Reserve"

So he just literally admits they create the 85,000,000,000 usd out of nowhere to rescue the private company. This isn't the way capitalism should work and it's more like socialism where everybody takes the loses  >:(
This shows how dumb some of you here can be. I'm tired of people who are thinking that the fiat system is their problem in life and thinking that the way money is printed by banks is by just pulling out a computer and fill up digits and that's, money is out!! If that's what you think then you're dumb. Central banks don't print money anyhow like that, if money is printed, there are reasons as to why they did and it can even be to renew the old ones in circulation in which they will have to burn the old ones as well. Our problem in this world is our leaders, the heart of men is wicked and like the saying goes-- power corrupts.


Title: Re: The production of money... is SCAM!
Post by: D3m1r4wanti on June 17, 2019, 09:38:17 AM
Printing money is the right of the country concerned, however, printing money cannot be done carelessly, the government of a country will calculate the amount of money printed to circulate in its country as needed, because if not, inflation will occur (decrease in currency) because of the large amount of money circulating will increase the price of the price and decrease the value of the currency.


Title: Re: The production of money... is SCAM!
Post by: jademaxsuy on June 17, 2019, 10:02:57 AM
Printing money is the right of the country concerned, however, printing money cannot be done carelessly, the government of a country will calculate the amount of money printed to circulate in its country as needed, because if not, inflation will occur (decrease in currency) because of the large amount of money circulating will increase the price of the price and decrease the value of the currency.
of course, printing money is based on the growth of the economy. Usually, there will be an inflation that will going to happen every after additional printing of notes. This will relatively degrades the value of the money after adding its numbers. But, I do not think that this is considered as scam. It seems that fiat currency has been useful in every economy even from the past years of the economy of the country until up to now the present.


Title: Re: The production of money... is SCAM!
Post by: Naida_BR on June 17, 2019, 04:53:53 PM
Printing money is the right of the country concerned, however, printing money cannot be done carelessly, the government of a country will calculate the amount of money printed to circulate in its country as needed, because if not, inflation will occur (decrease in currency) because of the large amount of money circulating will increase the price of the price and decrease the value of the currency.

At the beginning of your statement it seems like you support the act of printing money.
As you said, printing money is very dangerous for inflation and it is the way why taxes go up along with the prices making people poorer.


Title: Re: The production of money... is SCAM!
Post by: thehun on June 17, 2019, 05:06:13 PM
Printing money is the right of the country concerned, however, printing money cannot be done carelessly, the government of a country will calculate the amount of money printed to circulate in its country as needed, because if not, inflation will occur (decrease in currency) because of the large amount of money circulating will increase the price of the price and decrease the value of the currency.

This is generally true. However, the USD is an exception to this rule as they have the capacity to export inflation since virtually all goods around the globe are traded in USD, and they have been very keen to make sure it continues this way. The downfall of Gadafi in Lybia had a lot to do with this.

https://www.thenewamerican.com/economy/markets/item/4630-gadhafi-s-gold-money-plan-would-have-devastated-dollar


Title: Re: The production of money... is SCAM!
Post by: inashed on June 17, 2019, 05:11:49 PM
You can not print money endlessly. This approach is completely contrary to the laws of economics and will inevitably lead to a depreciation of the currency.

Most crypto where we will reach the last coin at a very distant future is basically this, Yet I see people complaining about 100% premined (like nxt, not like ripple) coins all the time.


Title: Re: The production of money... is SCAM!
Post by: Indamuck on June 17, 2019, 05:58:10 PM
Just after the financial crisis in 2009, the journalist Scott Pelley asked Ben Bernanke on the 60 minutes CBS TV show where did they get the money for the AIG bailout in march 14, 2009? was these money of the taxpayer people?

He just said:"No. It isn't money from the taxpayers. The banks has it's own accounts with the Federal Reserve as well as you can have one with one commercial bank."

He continued: "In such way, to loan to a bank, one just simply uses the computer to mark up the size of the account they had with the Federal Reserve"

So he just literally admits they create the 85,000,000,000 usd out of nowhere to rescue the private company. This isn't the way capitalism should work and it's more like socialism where everybody takes the loses  >:(

Devalues the currency for everyone else so it was a loss on taxpayers.  If people continue to worship the dollar like it has actual value this will continue.  If everyone rose up and stopped using fiat money it would send a very real message to the government.


Title: Re: The production of money... is SCAM!
Post by: jak3 on June 17, 2019, 05:58:51 PM
It was expected from the banks as whenever they need money they just take loans from the central banks and the central bank is responsible for printing more money. I get it printing more money does need a lot of permissions and a lot of things but that is rude. They are literally putting their burden on everyone in the country. By loading the scarcity of the value of money and printing more money means increasing each and every value on the market products. This is a big scam.


Title: Re: The production of money... is SCAM!
Post by: STT on June 17, 2019, 11:59:05 PM
Ben is correct so long as they reverse QE then it would have been all ok.   Strict book keeping is fine, Keynes had this system but they ignored it.

This is also in simple terms why many consider the use of credit cards to be detrimental to your finances.   It doesnt have to be true but in the vast majority, credit cards are such a profitable business for the banks because normal people make so many mistakes when given 'new' money.  
    Same deal applies to QE, expansion on the monetary base on this scale is extremely dangerous because its nearly impossible to reverse without creating a large gap in the budget from reversal and cancellation of the QE bonds.   If the bonds are never reversed then it was newly printed money gifted to those nearest and dearest to the government such as banks who as primary dealers (https://www.investopedia.com/terms/p/primarydealer.asp) then store large amounts of debt as security.    Its a house of cards with both sides relying on each other


The deal with Keynes was to run a surplus in a positive GDP situation.   Fiscal budgets are not in surplus nor many other spending programs.    QE would be stated as a failure but those words alone could cause a recession, so will never be said similar to how a bank run starts silently.


Title: Re: The production of money... is SCAM!
Post by: D3m1r4wanti on June 18, 2019, 12:09:43 PM
At the beginning of your statement it seems like you support the act of printing money.
As you said, printing money is very dangerous for inflation and it is the way why taxes go up along with the prices making people poorer.
Please read back what I wrote, I give the statement that printing money is the right of the country concerned, does not mean I support it.

then what is your comment with my statement? it looks like you are just repeating what I said  :D :D

I do not think that this is considered as scam. It seems that fiat currency has been useful in every economy even from the past years of the economy of the country until up to now the present.
I also do not call it a SCAM, but it would be very dangerous if the currency printing was done without a careful calculation from the economic experts of a country.


Title: Re: The production of money... is SCAM!
Post by: indrakusumaindra on June 18, 2019, 03:39:02 PM
Just after the financial crisis in 2009, the journalist Scott Pelley asked Ben Bernanke on the 60 minutes CBS TV show where did they get the money for the AIG bailout in march 14, 2009? was these money of the taxpayer people?

He just said:"No. It isn't money from the taxpayers. The banks has it's own accounts with the Federal Reserve as well as you can have one with one commercial bank."

He continued: "In such way, to loan to a bank, one just simply uses the computer to mark up the size of the account they had with the Federal Reserve"

So he just literally admits they create the 85,000,000,000 usd out of nowhere to rescue the private company. This isn't the way capitalism should work and it's more like socialism where everybody takes the loses  >:(
yeah i always think that the production of money is scam and it leads into fluctuation and i dont know the good reasons of making more money. I do believe the more money in market means the less value of the money is, which is means the poorer the citizens whom hold the money.


Title: Re: The production of money... is SCAM!
Post by: Leh-Meh on June 19, 2019, 05:13:31 AM
The government is the biggest scammer and this is within their control. The financial system that been hit by this massive fraud in wall street. Oh, I forgot that mainstream media and the likes are on the same channel and part of this since they're the main information sources in our society. Mind conditioning and paid news shelling is one of they're profiting from. Politics do control everything in this world and that's what we get from being a puppet of this corrupt and self centered public servants.

People must go back in the woods. Hunt pigs, take figs, fruits etc.. from forest and mountains.


Title: Re: The production of money... is SCAM!
Post by: nur rochid on June 19, 2019, 06:51:00 AM
Just after the financial crisis in 2009, the journalist Scott Pelley asked Ben Bernanke on the 60 minutes CBS TV show where did they get the money for the AIG bailout in march 14, 2009? was these money of the taxpayer people?

He just said:"No. It isn't money from the taxpayers. The banks has it's own accounts with the Federal Reserve as well as you can have one with one commercial bank."

He continued: "In such way, to loan to a bank, one just simply uses the computer to mark up the size of the account they had with the Federal Reserve"

So he just literally admits they create the 85,000,000,000 usd out of nowhere to rescue the private company. This isn't the way capitalism should work and it's more like socialism where everybody takes the loses  >:(
yeah i always think that the production of money is scam and it leads into fluctuation and i dont know the good reasons of making more money. I do believe the more money in market means the less value of the money is, which is means the poorer the citizens whom hold the money.
it depends on the economy, if the economy is good and the supply of money is small it will be of high value. but instead, as you explained, inflation occurs. and of course we don't want Venezuela to be hyper inflation


Title: Re: The production of money... is SCAM!
Post by: DigitalCyberius on June 19, 2019, 07:09:07 AM
Just after the financial crisis in 2009, the journalist Scott Pelley asked Ben Bernanke on the 60 minutes CBS TV show where did they get the money for the AIG bailout in march 14, 2009? was these money of the taxpayer people?

He just said:"No. It isn't money from the taxpayers. The banks has it's own accounts with the Federal Reserve as well as you can have one with one commercial bank."

He continued: "In such way, to loan to a bank, one just simply uses the computer to mark up the size of the account they had with the Federal Reserve"

So he just literally admits they create the 85,000,000,000 usd out of nowhere to rescue the private company. This isn't the way capitalism should work and it's more like socialism where everybody takes the loses  >:(

Yes, freely creating money out of thin air (and loaning it at debt I believe to the banks), very corrupt. What do you think will happen?

On a slightly different note, fiat currency doesn't have a good track record in history. What do you think will happen to the USD and other world fiat currencies?

Have a good day,
The Cyberius team.

 


Title: Re: The production of money... is SCAM!
Post by: Snaic on June 22, 2019, 06:06:21 PM
The government is the biggest scammer and this is within their control. The financial system that been hit by this massive fraud in wall street. Oh, I forgot that mainstream media and the likes are on the same channel and part of this since they're the main information sources in our society. Mind conditioning and paid news shelling is one of they're profiting from. Politics do control everything in this world and that's what we get from being a puppet of this corrupt and self centered public servants.

People must go back in the woods. Hunt pigs, take figs, fruits etc.. from forest and mountains.
We are always very hard on the state.  Most likely, it is officials who do more harm than the state itself.  No one is against driving on good roads, living in safety and receiving social guarantees.  and much more that is funded by the state.  Of course, the state wallet exists from the taxpayers' funds, but nevertheless, for most, such a system is more than suitable. 


Title: Re: The production of money... is SCAM!
Post by: akram143 on June 22, 2019, 09:19:24 PM
I need something about the money that the money will not be printed by any country or any other government are the World bank is only printed out by the private that is the shocking thing that the money will not been owned by any government or any country


Title: Re: The production of money... is SCAM!
Post by: Irvinn on June 25, 2019, 08:10:55 PM
If there is a problem regarding printed money, it means that gold and silver coins should be minted.  As it was in the old days.  If you have gold or silver coins in your pocket, then you have not just paper, as it is now, but real value. 


Title: Re: The production of money... is SCAM!
Post by: iMark on June 26, 2019, 01:40:03 AM
Printing money is the right of the country concerned, however, printing money cannot be done carelessly, the government of a country will calculate the amount of money printed to circulate in its country as needed, because if not, inflation will occur (decrease in currency) because of the large amount of money circulating will increase the price of the price and decrease the value of the currency.
Thats right, it is the authority of the government, and of course they have calculated it carefully, it is not possible for them to print money without calculation, it can actually make their currencies worthless. printing money is not a scam, it is to maintain economic stability in that country


Title: Re: The production of money... is SCAM!
Post by: DigitalGemToken on June 26, 2019, 03:53:58 AM
Yeah, the bad thing about fiat currencies is that the supply is unlimited and can be printed at will.

That's why people are flocking to Bitcoin and other cryptocurrencies because they are limited in how much that can be issued.

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Title: Re: The production of money... is SCAM!
Post by: jestbenen8 on June 27, 2019, 11:52:52 AM
Just after the financial crisis in 2009, the journalist Scott Pelley asked Ben Bernanke on the 60 minutes CBS TV show where did they get the money for the AIG bailout in march 14, 2009? was these money of the taxpayer people?

He just said:"No. It isn't money from the taxpayers. The banks has it's own accounts with the Federal Reserve as well as you can have one with one commercial bank."

He continued: "In such way, to loan to a bank, one just simply uses the computer to mark up the size of the account they had with the Federal Reserve"

So he just literally admits they create the 85,000,000,000 usd out of nowhere to rescue the private company. This isn't the way capitalism should work and it's more like socialism where everybody takes the loses  >:(
Money is not the problem you're having, it's the government. They are the ones who tries to ruin everything. Any country with a bad government is doomed, unless they find a way to remove the bad people from seat, if not they will keep on facing the same problems. That's the kind of problem that developing countries are having, most of their leaders are full time criminals who keeps stealing from their countries and sending them overseas and ruining the countries economy, creating high rate of poverty. So yes, the leaders are the problems we are having. If the people will grow to stand against every bad leader, then things will get better. But if you keep on pretending that fiat is the problem you have, then you should know that cryptocurrency is money as well and should be considered worst than the fiat.


Title: Re: The production of money... is SCAM!
Post by: Irvinn on June 27, 2019, 08:19:51 PM
Printing money is the right of the country concerned, however, printing money cannot be done carelessly, the government of a country will calculate the amount of money printed to circulate in its country as needed, because if not, inflation will occur (decrease in currency) because of the large amount of money circulating will increase the price of the price and decrease the value of the currency.
Thats right, it is the authority of the government, and of course they have calculated it carefully, it is not possible for them to print money without calculation, it can actually make their currencies worthless. printing money is not a scam, it is to maintain economic stability in that country
A national currency, like the national symbols of any country, must exist.  Each government administers its country according to a predetermined plan within the clear framework of the law.  Money that has good value at the international level is not only an image for the country, but also for the good life of citizens.  There is nothing wrong with printing money if it is not counterfeiters or not money that is issued in more quantities than the gold reserves of the country allow.


Title: Re: The production of money... is SCAM!
Post by: ck343 on July 02, 2019, 09:53:47 AM
Just after the financial crisis in 2009, the journalist Scott Pelley asked Ben Bernanke on the 60 minutes CBS TV show where did they get the money for the AIG bailout in march 14, 2009? was these money of the taxpayer people?

He just said:"No. It isn't money from the taxpayers. The banks has it's own accounts with the Federal Reserve as well as you can have one with one commercial bank."

He continued: "In such way, to loan to a bank, one just simply uses the computer to mark up the size of the account they had with the Federal Reserve"
Basically there are 2 ways to steal money from the people

1) Taxes
2) Depreciating people's money

Nr. 1 is made by the Govs
Nr. 2 is made by the central banks (currency production --> currency depreciation)

Nr. 2 is much more painless, so it is the preferred way of the Govs, as the mass media have succeeded to convince us that inflation is normal.


Title: Re: The production of money... is SCAM!
Post by: Ozero on July 17, 2019, 04:03:30 AM
No, we can not say that printing paper money in the state is a scam. This is absolutely normal for any economy and any state. If it is economically justified and there is no abuse by the government, then it contributes to its economic growth. Banknotes wear out and require replacement in a period of from one to seven years depending on the nominal value. In addition, central banks have the right to print paper money in the amount of an increase in national gross income. So this is not a scam, it is the laws of economics.