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Replying to Avatar Felipe

It is a refreshing perspective to consider, when my beliefs have caused much animosity and resentment:

nostr:npub1a2cww4kn9wqte4ry70vyfwqyqvpswksna27rtxd8vty6c74era8sdcw83a suggests that the introduction and need for speed in the settlement layer of domestic and international transactions not satisfied by the properties of gold, was the main incentive for policymakers and central bankers to issue more paper claims for gold in relation to actual gold held in reserves.

It was the evolution of technology in the global financial system, or lack thereof, that incentivized what we today call money printing, not greed or evil.

When I understood her point, my heart started to heal from the correlated anger and frustration for cental planners.

Sure, they are to blame for misusing the system to their advantage, however not for the ability to misuse it.

#economy #USDebt #bitcoin

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Urchin 1y ago 💬 1

Fractional reserve banking is older than central banks.

The bankers of old convinced kings to legalise this fraud in return for generous credit.

Any reason for fractional reserve existing other than fraud being profitable is a post-hoc justification for said fraud. And these days it's more like fictional reserve.

You should go back to being angry, it is the correct state of mind.

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Felipe 1y ago

I prefer a state of calm. Helps me think more clearly

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