We should all just use silver by weight with each other
invite response
2023 Feb 19, 8:00pm 24,359 views 187 comments
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183
stereotomy
2024 Dec 13, 5:17pm
stereotomy
2024 Dec 13, 5:17pm
The first and greatest sin was permitting fractional reserve banking. That was the lie that seeded the great corruption that is overwhelming us today.
Banks pretend they have more money to lend (1000% more under 10% reserves) than they have. Eventually, everyone is pretending to own what is on credit, including the US gub'ment.
Banks pretend they have more money to lend (1000% more under 10% reserves) than they have. Eventually, everyone is pretending to own what is on credit, including the US gub'ment.
184
AmericanKulak
2024 Dec 13, 5:18pm
AmericanKulak
2024 Dec 13, 5:18pm
HeadSet says
Yep.
I certainly don't remember 72-month loans back in the day.
Bingo! Car loans should be 20% down and two years max.
Yep.
I certainly don't remember 72-month loans back in the day.
185
AmericanKulak
2024 Dec 13, 5:21pm
AmericanKulak
2024 Dec 13, 5:21pm
stereotomy says
Right?
The late 19th century was a deflationary period. The price of almost everything went down over several decades.
It wasn't crazy a few decades ago for ordinary people that didn't have top 10% incomes to pay cash for a NEW car, or to pay tuition out of income.
The first and greatest sin was permitting fractional reserve banking. That was the lie that seeded the great corruption that is overwhelming us today.
Banks pretend they have more money to lend (1000% more under 10% reserves) than they have. Eventually, everyone is pretending to own what is on credit, including the US gub'ment.
Right?
The late 19th century was a deflationary period. The price of almost everything went down over several decades.
It wasn't crazy a few decades ago for ordinary people that didn't have top 10% incomes to pay cash for a NEW car, or to pay tuition out of income.
186
HeadSet
2024 Dec 13, 6:20pm
HeadSet
2024 Dec 13, 6:20pm
AmericanKulak says
Yes, as it should when productivity increases.
The price of almost everything went down over several decades.
Yes, as it should when productivity increases.
187
Patrick
2024 Dec 13, 8:25pm
Patrick
2024 Dec 13, 8:25pm
But around the 1970's, all increases in productivity resulted in more money for shareholders and less than nothing for the workers who were being more productive.
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This is kind of funny because "peso" literally means "weight" of silver. But there is no silver in the peso anymore.
The US dollar has lost about 97% of its value from the time the Federal Reserve was created.
Why do we bother with their shit fiat currency at all? There is plenty of silver to use as currency, no shortage. And you can be sure its value won't go to zero like it does with all fiat currency eventually.
Would be nice if there were easily available small weights of pure silver available, but in the meantime, we could just use old US silver coins.
The important thing is to value currency by weight of pure silver, not bullshit pesos or dollars.