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Author Topic: The Richest Billionaires in the US just got richer during the Covid-19 pandemic  (Read 89 times)
KonstantinosM (OP)
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May 27, 2020, 05:30:55 AM
 #1

The system is broken. The government just gave a ton of money to the richest people there are and just gave us scraps so we won't complain about it.

It's obscene.

What George Carlin said is proven true once more. This country has owners. They own all the land and resources that's worth anything and we know what they want. They want more for themselves and less for everybody else.

We've been sold out. At least with bitcoin the government doesn't get to print more of it and assign it to themselves.

Relevant news article:
https://www.cnbc.com/2020/05/21/american-billionaires-got-434-billion-richer-during-the-pandemic.html


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Mauser
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May 27, 2020, 07:34:56 AM
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But the problem is as long as your monthly salary is being paid in FIAT currency and you have to use that currency to buy groceries, there is no way arround this cycle on a big scale at the moment. 

And even if the richest people (i.e. biggest companies) would start losing money, the government will just print new money and bail out these  companies. Its a rat race for the average people as their little saving will just be diluted.

Unforunately crypto currencies are not there yet to be in full competition to the monetary system. I am afraid it will take for the youngest generations to grow old to really have an alternative. But its on all of us in this forum to keep making it bigger and make our voices heard in the society.

Cnut237
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May 27, 2020, 08:27:21 AM
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The system is broken. The government just gave a ton of money to the richest people there are and just gave us scraps so we won't complain about it.
It's not broken. Inequality is a feature, not a bug. The system is working entirely as intended.

It's obscene.
I totally agree. It's not just the pandemic, this has been going on for decades. Just look at the last 40 years:


https://boingboing.net/2017/12/14/oligarchy-on-ice.html







BADecker
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May 27, 2020, 09:47:19 AM
 #4

Government HAS to give money to the people who apply for it.

Over the years, new money is created in the USA, by people taking out loans from banks. The loans aren't really loans in the standard sense. Rather, they are creations of new money.

Originally, back in the early 1900s, the idea was for people to borrow new money into existence, and after they paid their loan off, they could get it all back (except interest, that is). But they had to fill out a special application form to get it back.

Nobody told them which app to fill out. So the money has been sitting there in the banks for all this while.

The banks are getting tired of sitting on all this money, so they are quietly letting it out which app to file to get borrowed repaid money back.

If you ask the bank, they might tell you. But if they don't, all you need to do is research.

Do you remember a few years ago when the "Accepted for Value" stuff was going on? People were sending their bills to the IRS to get them paid. And the IRS was paying them, until they figured out that the money was due from the banks rather than from the IRS.

All you gotta do is find the correct application form to apply for the loan money back from all the loans all your USA ancestors made (yourself included), and the bank will send you your money back.

Cool

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