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I must be missing something.
What's the point of an altcoin if it could be blocked by government anyway - I mean, you seemed to be saying earlier that the US government could pull the plug on the internet backbone if things got desperate enough for them?
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It may not be a relevant question to you, but it's fundamental to most people... After all, it is the very foundation upon which the financial system is built.
You can not build on top of fraud - it's like saying it's okay for the banks computers to register 2+2=5 and have that verified as correct by the accountants. It's too daft to laugh at.
If fraud is the mechanism by which the seed money is produced then that fraud is present thereafter - it can't just be ignored.
I never advocated ignoring it. I am saying you can't unwind the existing debt with a magic wand and not hurt a lot of innocent people. You could try to abolish the Fed. That is not the same as erasing the current debt as you originally stated. Would that be current debt that's built upon a fraud by any chance?  |
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Please help my understanding by explaining this scenario.
There's just me and you left after the apocalypse - I'm the bank and you're Mr Testicles.
We both agree that I (the bank) can create money from nothing and lend it to you at 10% interest per week for doing fook all.
The bank grants Mr Testicles a loan of £100 for one week - so a total repayable of £110.
The question is - where does Mr Testicles find the £10 in interest?
This question is not relevant to the explanation I provided to you before. I understand the inherent corruption of the fractional reserve system. That is not my point. My point is that the (government and corporate bond debt) lenders are in large part now the public. If you default, you default on the public, not on the banksters. The Fed also bought up a lot of debt recently and put it on its balance sheet. But if you selectively default on that portion only, you will cause all the USA debt to collapse in value due to the loss of confidence and stampede. It may not be a relevant question to you, but it's fundamental to most people... After all, it is the very foundation upon which the financial system is built. You can not build on top of fraud - it's like saying it's okay for the banks computers to register 2+2=5 and have that verified as correct by the accountants. It's too daft to laugh at. If fraud is the mechanism by which the seed money is produced then that fraud is present thereafter - it can't just be ignored. |
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Please help my understanding by explaining this scenario.
There's just me and you left after the apocalypse - I'm the bank and you're Mr Testicles.
We both agree that I (the bank) can create money from nothing and lend it to you at 10% interest per week for doing fook all.
The bank grants Mr Testicles a loan of £100 for one week - so a total repayable of £110.
The question is - where does Mr Testicles find the £10 in interest?
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There's no doubt about it, all countries have been and are being shafted by the banks.
I am big believer in personal responsibility. The people borrowed and accepted government spending. The people are complicit. Where 99% of people are asleep is that there is no debt, because the banks never lent us anything anyway - because they don't have anything lend - and it's all about book-keeping entries and the ability to maintain a lie.
It is not that simplistic. The debt now represents actual investments and labor as the debt money has gone through the economy. You can't just unwind that without picking winners and losers thus stealing from some and redistributing to others. The notion that debt can be canceled is a fallacy. It always has to be paid down by someone. Then I'm afraid you have failed to see that governments are merely the 'shop window' of the banks, otherwise you would realise that there is no reason in the whole wide world why a government would allegedly 'borrow' money at interest from a private company, when it has the ability to create its own for free. Personal responsibility is just common sense and common sense should tell you that if your government is just a bank in disguise, then it will charge 'its people' for the 'loans' it has arranged on their behalf. Please don't perpetuate the lie that "The people borrowed and accepted government spending." and "The people are complicit.", as they have no say in the matter, regardless of who's managing the shop today. You can not have debt based on a fraud. |
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There's no doubt about it, all countries have been and are being shafted by the banks.
Where 99% of people are asleep is that there is no debt, because the banks never lent us anything anyway - because they don't have anything lend - and it's all about book-keeping entries and the ability to maintain a lie.
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If the ultimate sanction is that they turn off the internet, then there is no app for that  But at some point they must turn it back on - or forever live in darkness... |
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Look your economies are going to implode. And the retirees are going to support the government to find taxes where ever they can.
Hey I am European, no problems over here.
Oh no? You've got three these albatrosses round your neck, Italy, Greece and Spain.... Cyprus, Ireland, UK, France, Germany etc......... |
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I broadly agree that all gov's are power crazed organisations and truly capable of the most dangerous of actions.
However, if the USA were to close the internet backbones, it would leave them without the ability to snoop and spy on the rest of the planet and thus be isolated. They are then, in effect, in a similar same catch 22 situation as those they would seek to control.
The HUGE burden of finding resources to carry out all this monitoring and enforcement shouldn't be underestimated as they'd be confronting people by the millions (billions?).
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I'm not sure if this discussion can actually lead anywhere as you seem to be saying that governments can regulate anything and indeed everything if they so choose. If that's the case then I think I can state with some certainty that many of us are aware of the grandiose image governments have of their assumed powers, but the real question is do these governments have the resources to satisfy their wants? Bitcoin and the other technologies I mentioned aren't just decentralised but also disruptive. As they gain traction, other similar and possibly better solutions will come along and governments will be fighting on many fronts. Other avenues may also appear that don't yet exist. Besides this, they must battle with their debt problems and the inevitable decline in tax revenue brought about by more and more 'off grid' transactions caused by the new technology. The longer the battle, the weaker they will get. Here in the UK we now have councils starting to ask residents to carry out road repairs due to lack of money. http://www.telegraph.co.uk/news/uknews/road-and-rail-transport/11155213/Residents-asked-to-repair-potholes.htmlWhen things get to this level, then it's clear to me that things are fundamentally broken. So yes, in theory governments could band together, and in the footsteps of King Canute, could legislate against or even ban Bitcoin, but the bigger picture is that if the people have the vision to use it, then Bitcoin would be more akin to a virus and be so very hard to kill. |
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What?? I had no clue that such thing as Remembrancer existed. The Remembrancer is the only non-MP or civil servant with a seat in both the House of Commons and the House of Lords. He sits to the right of the Speaker in every session of parliament. His sole purpose is to scrutinise and influence legislation in the interests of the banks. Nobody elected this representative into our parliament. What kind of democracy allows an unelected lobbyist for a wealthy elite to sit in its parliament to write laws in their own interests?
Who is the Remembrancer?
The current Remembrancer is Paul Double, a former barrister, and he has been in the role since 2003. In that time, he has not provided a single interview to the media. He has a budget of £5.3m, and a £500,000 staff which included six lawyers. That's not right. Maybe we should install there our own guy and sit him to the left of the Speaker (for the balance)? Anyone interested? I know!! The audacity of the banks and the ignorance of the people is breathtaking!  |
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Nothing's failed because nothing's really started as yet.
Bitcoin is here and chugging along, with every passing day proving it's here to stay thanks to continued infrastructure investment and acceptance by an ever growing user base.
As more people become aware, they will discover three more parts to the decentralised jigsaw puzzle, which at the moment are best represented by the following:
MaidSafe - Complete user anonymity on the internet and a way to store and access data anywhere etc, on any suitable device.
OpenBazaar - Fee free P2P transactions.
Crowd Funding - P2P Loans and donations.
Once all four of these elements are used in conjunction, it becomes clear we have a parallel trading and financial system that is minus the parasites that live off us and independent of the current scheme.
As individuals discover the immense burden of maintaining the status quo, then the advantages of the new options will become obvious.
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The Enlightened.  ... Two Generals? |
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I like the way they think they have the option to regulate digital currencies.
I can imagine gov's getting so desperate to get in on it that they will assume any person's undeclared Bitcoin holdings are intended to be used for terrorist purposes - that does seem to be the 'get-out' clause for most things at the moment.
Governments have their own currencies and now the people do too... We can each look after our own, thanks.
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usa will kill btc before it do that
The USA isn't the World. |
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can reach it from here, but... well see for yourself:  It looks like the site is being blocked by my ISP as I haven't been able to get on for days - all other sites are fine. |
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I've been checking https://www.darkwallet.is/ for updates, but the website seems to have disappeared. Does anyone know what's happening? |
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