The production of money... is SCAM!

[greeklogos]

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.

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[cahbagus555]

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.

[andriarto]

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

[Tylev]

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.

[guoyu78]

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.

[yesyes18]

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.

[Aligab166]

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?

[ajaymukund]

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.

[Xampeuu]

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

[whirlcoin]

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.

[Marry Finch]

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.

[Naida_BR]

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.

[1Referee]

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.

[Adriano2010]

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.

[jvdp]

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.

[STT]

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.

[awik p]

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

[munareal]

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.

[Kevin77]

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.

[coolcoinz]

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.

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!