America's new debt ceiling - $19,600,000,000,000

[hunnaryb]

Bitcoin is still very vulnerable to an attacker with deep pockets.

in wall street, yes.
in exchange environment with TIER restriction (and bots with NO STOP), no.

real rules, no cheating available without the price.

He's not talking about on an exchange. He's talking about the infrastructure that supports the network.

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[RealBitcoin]

He's not talking about on an exchange. He's talking about the infrastructure that supports the network.

I dont think bitcoin can be hacked so easily.

If an attacker spends hundreds of millions to go for a 51% attack, then the network will always choose the longest chain, and his hundreds of millions will be wasted.

And for bitcoin companies its always important to remain transparent, there is no excuse for shady stuff in bitcoin, because the community reacts quickly.

[Jambolb2]

Bitcoin is still very vulnerable to an attacker with deep pockets.

These rich guys can buy a lot of bitcoin, but if the price is too high, many people will sell including the miners, that will put a limit of the price. If they want to sell short, we will buy the coin.

[BillyBobZorton]

Bitcoin is still very vulnerable to an attacker with deep pockets.

These rich guys can buy a lot of bitcoin, but if the price is too high, many people will sell including the miners, that will put a limit of the price. If they want to sell short, we will buy the coin.

Guy with big pockets buys lots of Bitcoin.. It would just mean they are bigger investors. There's nothing that's going to stop bitcoin at this point. We have more chances of being hit by a giant asteroid and dying than the Bitcoin network/protocol being compromised.

[iternetuser]

The debt of the United States is a direct result of that of the US federal reserve. The fed prints every new dollar and loans it to the US Treasury at interest. With that system in place, it is impossible for the US to pay off their debt, unless they abolish the fed.

https://www.youtube.com/watch?v=iFDe5kUUyT0

"The Biggest Scam In The History Of Mankind (Documentary) - Hidden Secrets of Money"

I guess many of you will know this video. I think it fits perfect in this thread as it shows how ridicolous this debt system is.

u guys are aware that the "profit" a central bank generates gets passed on to the government treasury?

[Yakamoto]

The debt of the United States is a direct result of that of the US federal reserve. The fed prints every new dollar and loans it to the US Treasury at interest. With that system in place, it is impossible for the US to pay off their debt, unless they abolish the fed.

https://www.youtube.com/watch?v=iFDe5kUUyT0

"The Biggest Scam In The History Of Mankind (Documentary) - Hidden Secrets of Money"

I guess many of you will know this video. I think it fits perfect in this thread as it shows how ridicolous this debt system is.

u guys are aware that the "profit" a central bank generates gets passed on to the government treasury?

Well at this point I would say there isn't any profit being generated by the central banks, and most of the government treasury is just additional debt...

Is profit necessary anymore, for governments at least? Most governments choose to just create debt anyways.

[iternetuser]

The debt of the United States is a direct result of that of the US federal reserve. The fed prints every new dollar and loans it to the US Treasury at interest. With that system in place, it is impossible for the US to pay off their debt, unless they abolish the fed.

https://www.youtube.com/watch?v=iFDe5kUUyT0

"The Biggest Scam In The History Of Mankind (Documentary) - Hidden Secrets of Money"

I guess many of you will know this video. I think it fits perfect in this thread as it shows how ridicolous this debt system is.

u guys are aware that the "profit" a central bank generates gets passed on to the government treasury?

Well at this point I would say there isn't any profit being generated by the central banks, and most of the government treasury is just additional debt...

Is profit necessary anymore, for governments at least? Most governments choose to just create debt anyways.

its not rly profit since a central bank cant make profit (but most ppl agreed to just call it profit)
99 billion got send to the U.S treasury in 2014 for example

[hexitor]

USA is going to get wrecked very soon... I'll be looking forward to the 20 trillion debt mark.

[onemd]

The debt of the United States is a direct result of that of the US federal reserve. The fed prints every new dollar and loans it to the US Treasury at interest. With that system in place, it is impossible for the US to pay off their debt, unless they abolish the fed.

https://www.youtube.com/watch?v=iFDe5kUUyT0

"The Biggest Scam In The History Of Mankind (Documentary) - Hidden Secrets of Money"

I guess many of you will know this video. I think it fits perfect in this thread as it shows how ridicolous this debt system is.

u guys are aware that the "profit" a central bank generates gets passed on to the government treasury?

I think the interest generated by the Fed will be paid to the US government treasury. So the Fed lend money to the US government for free.

[TibanneCat]

USA is going to get wrecked very soon... I'll be looking forward to the 20 trillion debt mark.

We'll see that happen before Barack Hussein Obama leaves office

The federal debt has already grown more during Obama's first six years than under all previous U.S. presidents combined
the number of americans receiving food stamps remains 45% higher than when he first took office.

With obamaconomics, yes we can!!

[iternetuser]

The debt of the United States is a direct result of that of the US federal reserve. The fed prints every new dollar and loans it to the US Treasury at interest. With that system in place, it is impossible for the US to pay off their debt, unless they abolish the fed.

https://www.youtube.com/watch?v=iFDe5kUUyT0

"The Biggest Scam In The History Of Mankind (Documentary) - Hidden Secrets of Money"

I guess many of you will know this video. I think it fits perfect in this thread as it shows how ridicolous this debt system is.

u guys are aware that the "profit" a central bank generates gets passed on to the government treasury?

I think the interest generated by the Fed will be paid to the US government treasury. So the Fed lend money to the US government for free.

how it works: central bank lending money to a commercial bank for X interest -> commercial bank lends it to governments/private people for X+Y interest -> the government gets X - costs the central bank needs to keep running, reserve assets etc. but pays X+Y for their debt.

this "every dollar issued by the fed generates interest debt which never can be payed back" is a myth

kinda sad to see that the bitcoin community is build ontop of such conspiracy theory nonsense spreaded who have all their knowlage about economics from either bolgs or youtube videos.

[The Arcitect]

Great to know this for the new year 

[Pab]

The debt of the United States is a direct result of that of the US federal reserve. The fed prints every new dollar and loans it to the US Treasury at interest. With that system in place, it is impossible for the US to pay off their debt, unless they abolish the fed.

https://www.youtube.com/watch?v=iFDe5kUUyT0

"The Biggest Scam In The History Of Mankind (Documentary) - Hidden Secrets of Money"

I guess many of you will know this video. I think it fits perfect in this thread as it shows how ridicolous this debt system is.

u guys are aware that the "profit" a central bank generates gets passed on to the government treasury?

I think the interest generated by the Fed will be paid to the US government treasury. So the Fed lend money to the US government for free.

how it works: central bank lending money to a commercial bank for X interest -> commercial bank lends it to governments/private people for X+Y interest -> the government gets X - costs the central bank needs to keep running, reserve assets etc. but pays X+Y for their debt.

this "every dollar issued by the fed generates interest debt which never can be payed back" is a myth

kinda sad to see that the bitcoin community is build ontop of such conspiracy theory nonsense spreaded who have all their knowlage about economics from either bolgs or youtube videos.

Will be interesting now in Switzerlend.Referendum to end money creation  by commercial banks,All  in Central Bank hands.It is more  and more stronger movement in Europe,to limit banks to be only financial services

USA is diffrent.FED is in fact group of biggest private  banks

[ace45954]

America's new debt ceiling - $19,600,000,000,000 (thats in the trillions if you were not sure)

Thats $60,000 debt for every man, woman and child in the country.

Ticking timebomb waiting to blow, keeping the gold nicely polished waiting for the day

This is probably a stupid question, but economics has never been my strong suit. Does the debt even matter? The US GDP is like 18 trillion a year. Also I thought I read that the US had originally decided to create a debt intentionally in order to build credit (like way back in the late 1700s and early 1800s). The debt keeps going up but so does GDP does it actually mean anything?

[EdenHazard]

America's new debt ceiling - $19,600,000,000,000 (thats in the trillions if you were not sure)

Thats $60,000 debt for every man, woman and child in the country.

Ticking timebomb waiting to blow, keeping the gold nicely polished waiting for the day

Can you provide a source yng more accurate and trustworthy? yng pictures you show does not prove anything. although hard to believe, but the US does have the capacity to make a loan of it, because their economy is stable.

[markj113]

Ever heard of Google, trying searching.

America's debt is no secret and there are plenty of sources available to confirm.

www.usdebtclock.org

[RealBitcoin]

Can you provide a source yng more accurate and trustworthy? yng pictures you show does not prove anything. although hard to believe, but the US does have the capacity to make a loan of it, because their economy is stable.

Depends what you call stable, most jobs have been shipped to another countries..

And thos happens globally, rich countries ship the jobs to poor countries, and the playing field evens. They will lose life standards in favor to poorer countries.

[iternetuser]

The debt of the United States is a direct result of that of the US federal reserve. The fed prints every new dollar and loans it to the US Treasury at interest. With that system in place, it is impossible for the US to pay off their debt, unless they abolish the fed.

https://www.youtube.com/watch?v=iFDe5kUUyT0

"The Biggest Scam In The History Of Mankind (Documentary) - Hidden Secrets of Money"

I guess many of you will know this video. I think it fits perfect in this thread as it shows how ridicolous this debt system is.

u guys are aware that the "profit" a central bank generates gets passed on to the government treasury?

I think the interest generated by the Fed will be paid to the US government treasury. So the Fed lend money to the US government for free.

how it works: central bank lending money to a commercial bank for X interest -> commercial bank lends it to governments/private people for X+Y interest -> the government gets X - costs the central bank needs to keep running, reserve assets etc. but pays X+Y for their debt.

this "every dollar issued by the fed generates interest debt which never can be payed back" is a myth

kinda sad to see that the bitcoin community is build ontop of such conspiracy theory nonsense spreaded who have all their knowlage about economics from either bolgs or youtube videos.

Will be interesting now in Switzerlend.Referendum to end money creation  by commercial banks,All  in Central Bank hands.It is more  and more stronger movement in Europe,to limit banks to be only financial services

USA is diffrent.FED is in fact group of biggest private  banks

"The Federal Reserve System's structure is composed of the twelve regional Federal Reserve Banks located in major cities throughout the nation, numerous privately owned U.S. member banks (...). The U.S. Government receives all the system's annual profits, after a statutory dividend of 6% on member banks' capital investment is paid, and an account surplus is maintained. In 2010, the Federal Reserve made a profit of $82 billion and transferred $79 billion to the U.S. Treasury."

the "ownership" of the Reserve Banks by the commercial banks is symbolic; they do not exercise the proprietary control associated with the concept of ownership nor share, beyond the statutory dividend, in Reserve Bank "profits."

[onemd]

Can you provide a source yng more accurate and trustworthy? yng pictures you show does not prove anything. although hard to believe, but the US does have the capacity to make a loan of it, because their economy is stable.

Depends what you call stable, most jobs have been shipped to another countries..

And thos happens globally, rich countries ship the jobs to poor countries, and the playing field evens. They will lose life standards in favor to poorer countries.

The jobs are coming back to the US. There is also a capital flowing out of China and flowing into the US.

[RealBitcoin]

Can you provide a source yng more accurate and trustworthy? yng pictures you show does not prove anything. although hard to believe, but the US does have the capacity to make a loan of it, because their economy is stable.

Depends what you call stable, most jobs have been shipped to another countries..

And thos happens globally, rich countries ship the jobs to poor countries, and the playing field evens. They will lose life standards in favor to poorer countries.

The jobs are coming back to the US. There is also a capital flowing out of China and flowing into the US.

Hardly, the money goes where cheap labour is. They might flow out of China and go into India or other poorer countries, as China has already increased in living standards.

Corporations always move where the cheapest labour is.