US Dollar Collapse

[Blackberryy]

How did you help your cousin?

I told him about where I worked. He applied and got hired. He’s been making great money for a year now. With the overtime the job pays it’s about 40k tax free a year. With room and board, electricity, water, internet, and food free. Along with chances to move up and other various jobs with varying pays or degrees of skill to no skill. The contract will pay for you to go to school and get whatever you need to be a better asset and the best part is, these contract jobs are in 1000s if locations all around the world offering 100s of thousands of jobs and more

 

[melabeari]

We got that sort of in Denmark. If you are poor, the government will give you 1k$ every month if you meet their criteria, which includes but not limited to, that you don't have a job and that you can provide documentation that you've been actively looking for a job. It works great, and the thing is, if you are poor then you are guaranteed to spend every single penny. Which means the money they get from the government aren't a burden because it's money that is going directly into businesses. Which means that 'boom' time is likely to occur, and stay that way.

Denmark has a population of around 5.6 million, New York City alone is about 8.6 million, so trying to make that work for the entire US would be great if possible but i'm not sure if it can work, the US is like 50 countries in one. I'm from NY and people from Texas are more foreign to me than people from Europe and Asia probably.

 

[Zemmix]

The USA could afford to do a lot more than it does, including a lot of those things. But when you are spending more than the next 12 highest spenders combined (and then some) for your military budget, that doesn't leave much for that.

But apparently, the USA needs more military funding than Russia, India, North Korea, China, etc all thrown together. Which I guess is all well and good, and works with the nationalist rhetoric that is pushed under the guise of patriotism. But the sad thing is that they are doing the exact same thing they criticize "evil dictatorships" for doing.

 

[Yapah]

The USA could afford to do a lot more than it does, including a lot of those things. But when you are spending more than the next 12 highest spenders combined (and then some) for your military budget, that doesn't leave much for that.

But apparently, the USA needs more military funding than Russia, India, North Korea, China, etc all thrown together. Which I guess is all well and good, and works with the nationalist rhetoric that is pushed under the guise of patriotism. But the sad thing is that they are doing the exact same thing they criticize "evil dictatorships" for doing.

USA military spending is only slightly ahead of china in terms of PPP.

 

[melabeari]

The USA could afford to do a lot more than it does, including a lot of those things. But when you are spending more than the next 12 highest spenders combined (and then some) for your military budget, that doesn't leave much for that.

But apparently, the USA needs more military funding than Russia, India, North Korea, China, etc all thrown together. Which I guess is all well and good, and works with the nationalist rhetoric that is pushed under the guise of patriotism. But the sad thing is that they are doing the exact same thing they criticize "evil dictatorships" for doing.

yea I hear ya, if they bought like 3 less fighter jets they could probably feed all the hungry kids here for like 10 years

 

[Zemmix]

USA military spending is only slightly ahead of china in terms of PPP.

And would you say that's appropriate and necessary?

Fact still stands, though. The next 12 countries combined spend less total.

Keep in mind, I'm not really saying that's good or bad...Simply pointing out some things that are a bit interesting and hypocritical.

 

[Mvq]

I told him about where I worked. He applied and got hired. He’s been making great money for a year now. With the overtime the job pays it’s about 40k tax free a year. With room and board, electricity, water, internet, and food free. Along with chances to move up and other various jobs with varying pays or degrees of skill to no skill. The contract will pay for you to go to school and get whatever you need to be a better asset and the best part is, these contract jobs are in 1000s if locations all around the world offering 100s of thousands of jobs and more

What job is this?

Denmark has a population of around 5.6 million, New York City alone is about 8.6 million, so trying to make that work for the entire US would be great if possible but i'm not sure if it can work, the US is like 50 countries in one. I'm from NY and people from Texas are more foreign to me than people from Europe and Asia probably.

I don't see how the population differential is relevant to whether something is possible.
[doublepost=1576901548,1576898191][/doublepost]So your evidence of that poverty being the poor peoples fault and not the system is that you vouched for your cousin so he got a job without a degree, holy fk your IQ is high @Blackberryy

 

[Selaya]

wtb popcorn

 

[Zemmix]

wtb popcorn

You know what I have literally never made? Jiffy Pop.

 

[Chops]

You know what I have literally never made? Jiffy Pop.

my dude.

you gotta. this weekend. you're gonna love it.

 

[Zemmix]

my dude.

you gotta. this weekend. you're gonna love it.

Chops and my weekend plans.

 

[Kracks]

What job is this?



I don't see how the population differential is relevant to whether something is possible.
[doublepost=1576901548,1576898191][/doublepost]So your evidence of that poverty being the poor peoples fault and not the system is that you vouched for your cousin so he got a job without a degree, holy fk your IQ is high @Blackberryy

His argument that white privilege doesn’t exist was that he got beat up every day growing up and he’s white. Probs has brain damage tbh

 

[Twinkit]

What job is this?



I don't see how the population differential is relevant to whether something is possible.
[doublepost=1576901548,1576898191][/doublepost]So your evidence of that poverty being the poor peoples fault and not the system is that you vouched for your cousin so he got a job without a degree, holy fk your IQ is high @Blackberryy

He's talking about the military, by the description and my passed experience as a recruiter I have a good idea that's what he's referring to. Also retiring next month after 20 years so, yeah me!
[doublepost=1576928260][/doublepost]The real question that needs to be answered is what happen to the 'Quit smoking it bad for your health' lobbyists and campaigners. Why is it all of a sudden its, 'the hazards of vaping'? Are they really against the tobacco industry and big business; and they don't give a damn about your health? Seems like it.

 

[Goesid]

The real question that needs to be answered is what happen to the 'Quit smoking it bad for your health' lobbyists and campaigners. Why is it all of a sudden its, 'the hazards of vaping'? Are they really against the tobacco industry and big business; and they don't give a damn about your health? Seems like it.

The tobacco industry bought up the vaping companies and then got them to ban flavored vaping. Because their infranstructure isnt to sell nictotine, its to sell tobacco.

 

[MYT]

OP sounds like someone that read about "The creature from Jekyll Island" (couldn't read whole thing because it's a long book) but then failed to read the books that it referenced to see that it follows the classic conspiracy theory MO - sprinkle in some slightly scandalous not widely known truths to hide all the nonsense you're selling.

Yes there's fiat money, yet we use fractional lending. Neither is a problem. If the dollar ever collapses it will be because the we spend far too much or because a bunch of the bad guys agree to hurt themselves badly to hurt the west even worse (the more likely outcome, but still highly unlikely to happen in the next couple of decades). And oh, if the dollar does collapse, our exports get a lot cheaper - so business will boom here so all won't be bad.

 

[Yapah]

Yes there's fiat money, yet we use fractional lending. Neither is a problem. If the dollar ever collapses it will be because the we spend far too much or because a bunch of the bad guys agree to hurt themselves badly to hurt the west even worse (the more likely outcome, but still highly unlikely to happen in the next couple of decades). And oh, if the dollar does collapse, our exports get a lot cheaper - so business will boom here so all won't be bad.

Fractional reserve lending allows banks to create currency through bank credit. Banks have 10%, 5%, and sometimes 0% fractional reserve ratio. So $100 of currency deposited into a bank can create $1000 bank credit, backed by $100 in currency. 95% of the currency is circulation is created through bank credit. If interest rates are 2% for the common man, it’s 20% for banks thanks to fractional reserve lending. There’s nothing wrong with a bank creating currency through credit? Also remember when a bank creates a loan they only create the principle of the loan, yet you’re expected to pay principle + interest. It creates a system where currency can only be created through debt, but there will always be more debt than currency in the system. If everyone were to pay off their debts, our currency supply would disappear. Thus we need to borrow more currency into existence to pay the principle + interest on currency we previously borrowed.

If the dollar collapses, our exports get a lot cheaper but thats very oversimplified. Firstly the USD collapse would make every other country drop the USD as their reserve currency. All those dollars overseas come back to the US, which is when we’ll see extreme inflation. The country’s savings will be wiped out from inflation, and the USD will become another random currency like the mexican peso. AFTER all that pain, the country can heal and start growing with very cheap labor and exports.

EDIT: The US has had the deal of the century thanks to the fed. We give them worthless paper agreed to be the reserve currency of every country, and they give us cheap goods. Countries are slowly waking up to this scam
[doublepost=1576940948,1576939892][/doublepost]

And would you say that's appropriate and necessary?

Fact still stands, though. The next 12 countries combined spend less total.

Keep in mind, I'm not really saying that's good or bad...Simply pointing out some things that are a bit interesting and hypocritical.

Its appropriate and necessary when china is expanding its global military influence. China may spend only 30% of what we do, but that’s because costs are so low in China. They create the same weapons as the US at a fraction of the cost. As much as the US has abused it’s power globally, it’s still a much better alternative than a Chinese hegemony.

 

[MYT]

I mean you're right about a lot of things. The end game of socialism is complete control of our lives. That's the ultimately fucking - you sell yourself into slavery for free stuff, until to find the free stuff ends once you've gone too far. Do I think that happens here? I sure hope not - yet Elizabeth Warren and Bernie, champions of open communism, are darlings of the American left.

But is the money system a big trap? No. If a government causes massive inflation to devalue its debt and buy its citizens into slavery - then I'm worried. But I don't see that happen here unless we let the worst among us elect comrades Bernie and Warren.
[doublepost=1576942335,1576942102][/doublepost]

Fractional reserve lending allows banks to create currency through bank credit. Banks have 10%, 5%, and sometimes 0% fractional reserve ratio. So $100 of currency deposited into a bank can create $1000 bank credit, backed by $100 in currency. 95% of the currency is circulation is created through bank credit. If interest rates are 2% for the common man, it’s 20% for banks thanks to fractional reserve lending. There’s nothing wrong with a bank creating currency through credit? Also remember when a bank creates a loan they only create the principle of the loan, yet you’re expected to pay principle + interest. It creates a system where currency can only be created through debt, but there will always be more debt than currency in the system. If everyone were to pay off their debts, our currency supply would disappear. Thus we need to borrow more currency into existence to pay the principle + interest on currency we previously borrowed.

If the dollar collapses, our exports get a lot cheaper but thats very oversimplified. Firstly the USD collapse would make every other country drop the USD as their reserve currency. All those dollars overseas come back to the US, which is when we’ll see extreme inflation. The country’s savings will be wiped out from inflation, and the USD will become another random currency like the mexican peso. AFTER all that pain, the country can heal and start growing with very cheap labor and exports.

EDIT: The US has had the deal of the century thanks to the fed. We give them worthless paper agreed to be the reserve currency of every country, and they give us cheap goods. Countries are slowly waking up to this scam
[doublepost=1576940948,1576939892][/doublepost]
Its appropriate and necessary when china is expanding its global military influence. China may spend only 30% of what we do, but that’s because costs are so low in China. They create the same weapons as the US at a fraction of the cost. As much as the US has abused it’s power globally, it’s still a much better alternative than a Chinese hegemony.

You're right to the extent that I understated the damage if the dollar is dropped as a reserve currency.

However, I still don't buy the argument that reserve banking is a bad idea. Taken to excess it can be. But if we skipped back to you can only lend what you have, then we'd all have our incomes/standard of living cut by 80%+….no reason to do that because someone has a theory about it. Karl Marx had a theory today known as socialism, and hundreds of millions have been murdered by their own governments (along with billions not killed but enslaved) due to that idea. There's serious consequences of trying to drastically change everything based on a theory IMO.

 

[Yapah]

I mean you're right about a lot of things. The end game of socialism is complete control of our lives. That's the ultimately fucking - you sell yourself into slavery for free stuff, until to find the free stuff ends once you've gone too far. Do I think that happens here? I sure hope not - yet Elizabeth Warren and Bernie, champions of open communism, are darlings of the American left.

But is the money system a big trap? No. If a government causes massive inflation to devalue its debt and buy its citizens into slavery - then I'm worried. But I don't see that happen here unless we let the worst among us elect comrades Bernie and Warren.

Agreed on ur 1st paragraph, but for your second point the govt will always try to keep the status-quo going. I think the collapse will happen from outside forces no longer wanting to deal with dollars (the US has weaponized sanctions so a lot of countries are trying to find a way to bypass the dollar). The fed will try to prop up the economy with tax rebates, loan forgiveness, and printing more money, but once the dominos start falling the fed won’t have many maneuvers left. Interest rates are already extremely low, they can’t go much lower if a downturn comes, the fed won’t be able to save us this time.
[doublepost=1576943327,1576942689][/doublepost]

However, I still don't buy the argument that reserve banking is a bad idea. Taken to excess it can be. But if we skipped back to you can only lend what you have, then we'd all have our incomes/standard of living cut by 80%+….no reason to do that because someone has a theory about it.

I think we should be using the classical economic method rather than keynesian economics which believes a fractional reserve lending and manipulation of interest rates can result in growth. Classical economics is really just, leave the monetary system alone and let the markets control it. If we had a monetary system where our money isn’t eroded by inflation and our interest rates were set by the market, you would see the quality of life for everyone rise. This way you earn money by creating value rather than the biggest beneficiaries of your labor being the ones who control credit.

 

[Zemmix]

Oh my, oh my.

Well, that's certainly interesting...opinions you guys have.

I agree with some and disagree with some.

But I'll go back to just monitoring and not posting. Too much work to dabble in discussing such deep matters. ^_^;

 

[Chops]

These guys will trade the tyranny of government for the tyranny of big business and call it freedom