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Author Topic: Why not just print dollars?  (Read 29250 times)
Odien
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December 31, 2015, 03:35:26 AM
 #141

Because the government wants to slow the inflation rate?
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deisik
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December 31, 2015, 07:18:30 AM
 #142

For me, the fact that you can withdraw your money at any time means there is no loss of right to use your money

Okay, but what if the bank defaults (and there is no FDIC to pay you back), would (could) you lose your money?

Yes, this is a risk, but not a forfeiture of a right. There's a risk to hiding money in a mattress (theft, fire, etc.) and a risk to holding money in general (inflation), but risks are not forfeiture of rights. There's risk in everything you do with money, but I still distinguish between a risk of any action and the loss of a right to use your money. But if you're talking about risks of the banking system, I think I understand your point better. I just don't think it's accurate to describe that as a limitation of your rights.

My point is not about risk as you are seemingly trying to put it. When I say about the bank going bust (you losing money), I mean that you give up control of the money, i.e. transfer control over the money to the bank. It doesn't matter that you can reestablish that control any time. Indeed, you could also say that when you put money under the mattress you are also, in a sense, transferring control of it to the mattress. But in the latter case this has no legal consequences. You can't drag your dirty mattress to a court for squandering your shekels, lol...

I assume that leaving your car in a garage is not the same as renting it out (legally speaking)

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December 31, 2015, 07:49:26 AM
 #143

Because the government wants to slow the inflation rate?

it seems that they have slowed down this year but there were some year where the inflation was very high, up to 7%

so yes they don't want hyperinflation, but they still want to print at will

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deisik
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December 31, 2015, 11:11:41 AM
 #144

IRS Form 8300 still applies strictly to transactions in the course of a trade or business transaction and has the giant exemption that excludes personal checks. It's not quite the case you're making it to be. Individuals who receive $10,000+ in cash for selling any item outside the course of business, receive a gift, or receive the money via a personal check do not have to file IRS Form 8300.

You seem to have forgotten what I started with

...companies (the major owners of the "digits on the computer") are not allowed to deal in cash

So my case is exactly that case, lol

SebastianJu
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January 02, 2016, 12:05:02 AM
 #145

Yeah, that has nothing to do with forbidding, save only for the fact that it essentially makes impossible to transact in cash over $10,000 on a regular basis. Feel the difference...

And the requirement to report is all-around (banks or no banks)

It is easy to transfer $10000 in bitcoin today. But when governments regulate bitcon transfer, the same limit might apply.

How will they limit? They only could do that on the connection lines to the regulated exchanges and businesses. Anything going on inside bitcoin might not be traceable to easily.
pitham1
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January 02, 2016, 04:17:39 AM
 #146

Yeah, that has nothing to do with forbidding, save only for the fact that it essentially makes impossible to transact in cash over $10,000 on a regular basis. Feel the difference...

And the requirement to report is all-around (banks or no banks)

It is easy to transfer $10000 in bitcoin today. But when governments regulate bitcon transfer, the same limit might apply.

How will they limit? They only could do that on the connection lines to the regulated exchanges and businesses. Anything going on inside bitcoin might not be traceable to easily.

Think of bit-licences.
Even if all transactions are in bitcoin, they might make it compulsory for companies to limit / track transactions.
Most companies would like to stay on the right side of law and will comply with these regulations.

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January 02, 2016, 07:42:17 AM
 #147

https://www.youtube.com/watch?v=wpW_KMHlAmo

Why borrow dollars and then pay back by printing them?

Why take the long way around?
so do you think you can make your own money,like you mining bitcoin?no its not same,bitcoin is undecentralize,different with Dollar.
and bitcoin have no mark,but dollar have official mark from goverment.

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SebastianJu
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January 03, 2016, 11:58:15 PM
 #148

Yeah, that has nothing to do with forbidding, save only for the fact that it essentially makes impossible to transact in cash over $10,000 on a regular basis. Feel the difference...

And the requirement to report is all-around (banks or no banks)

It is easy to transfer $10000 in bitcoin today. But when governments regulate bitcon transfer, the same limit might apply.

How will they limit? They only could do that on the connection lines to the regulated exchanges and businesses. Anything going on inside bitcoin might not be traceable to easily.

Think of bit-licences.
Even if all transactions are in bitcoin, they might make it compulsory for companies to limit / track transactions.
Most companies would like to stay on the right side of law and will comply with these regulations.

Yeah, that would be the connection lines to the normal businesses. Though inside bitcoin there is no control. You can send 100k USD to china via bitcoin and no one could know.

Depends on with who you trade i guess.
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January 04, 2016, 10:06:23 PM
 #149

Bitcoin could be a new revolution or a new era of the "money". You can print or create everything you decide but it depends on how much it will cost or how much someone will give you.

dunfida
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January 06, 2016, 01:22:17 PM
 #150

Because the government wants to slow the inflation rate?

If there is too much printing of the money, the money will devalue too fast, people will lose trust in the government.

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January 06, 2016, 08:21:10 PM
 #151

...

Here is my take on printing money.

For the short-term, I don't think that they will just yet.  The FED just raised rates, so a new QE or rate-cut is not in the cards just yet.

But, 2016 has started very poorly in the stock market (-300 on the Dow as I write).  If we CRASH, and if we get deflation (possible), then at some point they WILL print ("Ctrl P").  Hyperinflation has often followed deflation in financial history.

Beware.  Keep some CA$H now, and if they start printing a lot more, go out and spend it on durable items or gold.  And/or some BTC.
mesimpleme
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January 09, 2016, 10:08:02 PM
 #152

https://www.youtube.com/watch?v=wpW_KMHlAmo

Why borrow dollars and then pay back by printing them?

Why take the long way around?





Because we live in a "central-banker-dictature"
btcprospecter
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January 09, 2016, 11:43:56 PM
 #153

All currencies are built on trust. That is how bitcoin is thriving people believe in it as a worldwide player in financial markets. If we just keep printing money it depends values it. We have all seen what happens worldwide when people lose trust in their currency it tumbles and people are forced to believe there is a recession as people are less inclined to spend slowing the global wheel of money

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January 09, 2016, 11:44:50 PM
 #154

https://www.youtube.com/watch?v=wpW_KMHlAmo

Why borrow dollars and then pay back by printing them?

Why take the long way around?
They print the dollars, and that's why the value of dollar is decreasing through the years, you can check the graph of last 100 years and see how much 1$ had value in 1913

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January 10, 2016, 10:33:52 AM
 #155

Yeah, that has nothing to do with forbidding, save only for the fact that it essentially makes impossible to transact in cash over $10,000 on a regular basis. Feel the difference...

And the requirement to report is all-around (banks or no banks)

It is easy to transfer $10000 in bitcoin today. But when governments regulate bitcon transfer, the same limit might apply.

How will they limit? They only could do that on the connection lines to the regulated exchanges and businesses. Anything going on inside bitcoin might not be traceable to easily.

When you use the online wallet or exchange wallet such as the Coinbase, these wallet service will follow the government rules.

Amph
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January 10, 2016, 11:09:25 AM
 #156

Yeah, that has nothing to do with forbidding, save only for the fact that it essentially makes impossible to transact in cash over $10,000 on a regular basis. Feel the difference...

And the requirement to report is all-around (banks or no banks)

It is easy to transfer $10000 in bitcoin today. But when governments regulate bitcon transfer, the same limit might apply.

How will they limit? They only could do that on the connection lines to the regulated exchanges and businesses. Anything going on inside bitcoin might not be traceable to easily.

When you use the online wallet or exchange wallet such as the Coinbase, these wallet service will follow the government rules.

yeah and it would not be so different than using fiat, because you are basically giving your coins to a centralized entity, pretty pointless

everyone that own bitcoin, should buy a server and make his own personal bank, instead of relying on those service/exchange/online wallet...

THE FUTURE OF
REAL ESTATE
..

║║
║║
║║
▬▬ ● ● ▬▬▬▬▬▬▬ ● ● ▬▬▬▬▬▬▬ ● ● ▬▬▬▬▬▬ ● ● ▬▬

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Denker
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January 10, 2016, 11:16:52 AM
 #157

https://www.youtube.com/watch?v=wpW_KMHlAmo

Why borrow dollars and then pay back by printing them?

Why take the long way around?
They print the dollars, and that's why the value of dollar is decreasing through the years, you can check the graph of last 100 years and see how much 1$ had value in 1913

Yes since 1913 the USD has lost 96% of it's purchasing power.
This is crazy. And this is the same with every other currency around the globe.The loss of purchasing power because banks+governments can't stop creating money out of thin air.

bob123
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January 10, 2016, 11:27:09 AM
 #158

Its USA.. never argue about stuff done from USA.. Mostly just nonsense  Grin

ivanst776
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January 10, 2016, 11:37:58 AM
 #159

https://www.youtube.com/watch?v=wpW_KMHlAmo

Why borrow dollars and then pay back by printing them?

Why take the long way around?
They print the dollars, and that's why the value of dollar is decreasing through the years, you can check the graph of last 100 years and see how much 1$ had value in 1913

Yes since 1913 the USD has lost 96% of it's purchasing power.
This is crazy. And this is the same with every other currency around the globe.The loss of purchasing power because banks+governments can't stop creating money out of thin air.
From this i can conclude that if you have an opportunity to invest then invest and don't hold the money as its value will increase through years

sishendaoye
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January 10, 2016, 03:41:59 PM
 #160

Its USA.. never argue about stuff done from USA.. Mostly just nonsense  Grin

Ha, this is true as well. Printing dollars would make their economic markets fail. The dollar would lose it's value if it was made that easy and of course the government don't want that.
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