What do you mean? What countries are not using a fiat (government sponsored) currency?
Discussion
thats not what fiat means. even before nixon took the US off the gold standard and created fiat, the money was still government sponsored.
btc can act underground store of value(G20 will make it so officially) like yellow rock since past 50yrs - once laws comes in effect either obey it or bypass it - 2 options left - become slave or stand up
RobOK, if youāre asking about countries without central banks, then Iran, North Korea, and Cuba. Also other countries that we have destroyed for that very reason: Libya, Iraq, and Afghanistan.
Sats 4 Truth PV š¤
And also, to say that central banks are government banks isnāt really correct. The USās central bank, at least, is a collection of private banks that loans money to the government for interest.
The US Federal Reserve is a private corporation
Predatory capitalism 101
Such is the transition from industrial capitalism appreciated by classical economists, to financial capitalism as designed by neoliberal economists within the Chicago School
absolutely!
And unfortunately, many of the economists most appreciated by this community, are those very ones that advocated for the neoliberal agenda, masked by rhetoric about free markets and minimizing government oversight. These things sound good, until Adam Smith reminds us that a free market does not mean freedom from oversight, but means that governments should act in a way as to prevent monopolies and legal manipulation by large interests, so that small people can compete fairly. The fair playing field that Satoshi gave us would have appealed to Smith greatly
the nature of capitalism is that small businesse compete against eachother. competition means someone wins and someone loses. when one wins, tehy get big, predatory, and turn into a monopoly.. its a cycle. The system is rotten to the core and needs to be replaced.
Agree. And yet the staunchest opponents to your statement hold firm to an understanding of capitalism that is completely different than the definition given to us by classical economists like Marx, Ricardo, Smith, et al.
Most anti-marxists, even famous ones, have never read Marx.
You might like this guy... https://www.youtube.com/playlist?list=PLPJpiw1WYdTMLIyASxEheOVjl1vKkajYj
I have yet to meet anyone who disparages Marx who has ever picked up Das Capital, or who could remotely describe its themes.
key notes: "What is to be done with the surplus / excess? Let private owners hoard it?" Here we are today. American fiat oligarch owned slave system pyramid scheme.
The very issues that Bitcoiners see as the worldās most important financial issues were described years ago by these economists. And the reasons were given. Yet there is still a large group of us that accept the causes passed down to us from our overlords, that lead us to blame social programs, entitlement spending, and the poor and destitute for the marketsā inequities.
The problem is that Bitcoin may not solve capitalism if its still operating in a capitalist system. It solves inflation, but does not solve modern slavery and the employee/employer relationship...
money printing or "quantitative easing" is required to keep a capitalist system afloat.
Bitcoin is an excellent tool and moves us in the right direction. Though it is but one improvement within a whole gamut of social needs that must be addressed for an improved world order. I hope the excitement and tribalism characteristic of this ilk doesnāt blind us to those other injustices
I try not to advocate for any āismā on a public forum. I absolutely advocate for understanding these constructions for what they are rather than for what we are told they are. My understanding of Marx and Smith as diametrically opposed economists was wrong. After reading them both, I see them as economic philosophers who both advocated for an improved social order and warned us of the dangers of unrestrained capital accumulation
Have you seen the debate between Richard Wolff and Gene Epstein? Or Slavoj Zizek vs Jordan Peterson? links below..highly recommended!
Yep. And the banking propaganda is real considering how so many of us have a hate on the government for its banking policies. Those banking policies are private policiesā¦whether created explicitly by the Fed, or written by bankers and pushed through congress using subversive tactics.
No I was not talking about central banks, was talking about fiat currencies- currencies backed by the government without hard assets
Fiat: Fiat money is a government-issued currency that is not backed by a commodity such as gold.
It does not require a central bank.
I didnāt follow the whole conversation but most / all countries have a fiat currency.
El Salvador's national currency is Bitcoin, and since 2022, Russia has pegged the ruble back onto the gold standard. There are two examples of countries using hard money today.
Gold is still more inflationary than Bitcoin and I donāt know how much you can trust Russiaās peg lol. Do they release financial reports?
yes, but those are censored from you by your government.
Wouldnāt surprise me look how well they suppressed the capital riot in America.
I know Russia/Putin has a massive war chest and reserve but how will they keep funding this war if itās projected to last 10+ years? Taxes is the obvious answer but then that will push other systems into decay. Seems like Russia needs inflation more than any country right now.
they have the most natural resources in the world and make up a fifth of the earth. I wouldnt worry. Theyve had a 400 billion surplus over the last decade. How will NATO and the west keep this up for the next 10 years? :)
They are also the largest supplier of energy to the largest producer of goods in the world, China. What does the west produce? Guns and war....and bank failures..
US has Inovation over Russia just like China runs manufacturing of the world. Here in Canada we have massive oil reserves doesnāt save our economy worth a shit.
nobody wants our dirty ass sandy oil, only to sell it back to us at a profit after cleaning it for us, because we are too stupid to invest in our own refineries and tech
We arenāt too stupid itās the left wing that rejected energy such as oil and nuclear fusion. Itās a piss off here in Alberta, Canada we were supposed to have a massive pipeline āKeystone XLā built that wouldāve saved the whole Canadian economy but it ran through one native reserve so the stupid left wing retards who run America and Canada refused to build it.
Back in the 80s Trudeau senior offered Alberta a pipeline to Quebec refineries. Albertans said "who will pay for it?" Pierred said "tax payers obviously" and they told him to fuck off... and here we are today!!! So yes we are fucking stupid.
Iām not even talking about the 80ās trueadue canceled the keystone XL pipeline in 2018 or 2019 it was a massive pipeline that wouldāve boosted the American and Canadian Economies and wouldāve especially came in handy during these times.
The US has inferior military tech to both russia and china. Russia and china are the only countries who get get into space without Elon and both have hypersonic missiles which the USA does not. Innovation? slowing to a grind in the US! Only the oligarchs like Elon with their hoarded money can do it.
That is verifiably false. Look what our tech did to Russia just by giving it to the weak ass Ukrainian military. Russia has weak ass tech so does China you should really do more research on this. Throughout history Russia is known for throwing massive amounts of bodyās to try to win wars their military is actually extremely inferior.
So Ukraine is winning? š¤£šš¤£
"you should really do more resreach on this" š¤£
You should Iāve been watching this war closely for over a year now I know whatās going on. Your just throwing random shit at the wall. Name reasons how Russia is winning?
Yeah havenāt you heard? Russia only captured one major city that Ukraine recaptured a few weeks ago. Russia is doing horrendously bad. Both militaryās are set to ramp up in the summer months though so I guess we will see what happens then. So far Ukraine is winning though.
Yeah western sanctions are failing we all understand that but Putin/Russia is losing this war. Ukraine is heavily outnumbered and they are still making advances on Russiaās military. China and Russia arenāt allies they only really have a temporary truce. China hates Russia as much as any country China just hates the west more. Things are looking bad for Russia this is all just a massive game of Chess and Putin has made a major blunder. Wait and see.
yet Ukraine keep shinking.....
Where Russia is making no ground? Your basing all this while providing no evidence. Iām still waitingā¦
and you have provided so much evidence :)
Iām very open to being wrong and not knowing something when I donāt know something. You refuse to be wrong though. You clearly have no clue about whatās going on in Ukraine buddy. I admitted I have no clue about the Russian economy because I donāt but Iāve been researching this war for the past year and I know whatās going on. Your just being retarded.
you just proved with that map how much Ukraine has shrunk since 2014.
Youve only been researching this war for1 year? If you knew anything, you would know its been going on for a lot longer than that. What are you 15 years old? Or do you just have Chernobyl syndrome? Since you started withithe the derogary name calling twice now you little mutant. When proven wrong, the loser always resorts to insults. And you proved yourself wrong. This is hilarious.
Ukraine has lost Crimea and the Donbas already. Today they are losing Artyomovsk (Bakhmut). You need to get out from under a rock and your mainstream media.
majority of the world....riiiiiight lol
This map is so stupid š¤£ Australia is pro nazi? Piss off š¤£
it says abstaining..you are you blind? Australia is part of the Anglo liberal wolrd order.
#free #assange 1st ā”š¤£ā”
So this map is claiming the US is pro nazi then? My man thatās even more retarded. I agree with the liberal agenda but itās not pro nazism itās just weak ass left wing pussyās they arenāt naziās. Whether theyāre Socialists is another story. The Naziās were faucists. Fascism is right wing.
Dont both dictate what the people should must follow unless they want to face a wall (facism and socialism) [sorry to jump in]
Yeah they both dictate what people must follow but socialism/communism is more like what China is, fascism is more of the Naziās. Thereās slight nuanceās that make them different/opposed to each other. Trust me though as a right winger myself Europe/USA are not fascists. If you want to understand the differences just Google it.
all systems humanity has invented have dictated yes.
We have not figured out anything better yet except BTC and NOSTR
Agreed but thereās different ways to dictate over a populous. This map is just false created by the liberal mob to once again push an agenda. The UN supports Greta Thunberg and her ideologyās you really trust those old liberal farts who support socialism?
Trust me I hate the government more than anyone here in Canada but it aināt a fascist government itās as liberal as can be.
Yea most english typers have never truely felt what facism or socialism is like for example: the fact that you can complain that you're opressed on the street and not get disappeared is a clear indication that you're not in a fascist/socialist country, if not ask a venezuelan migrant what they heard was happening in caracas in 2015
Agreed do these people really believe Trans rights or Gay right would be allowed due to protesters in a fascist country?As if, theyād be going straight to the concentration camps! š¤£
i dont think either of us dictated one or the other.
just presenting facts from the united nations general assembly resolution
the number is cited right there in the image at the bottom right.
sorry to trigger you both!
My Hastrate in 256, i have no idea what you guys were talking about prior to my comment, all i know is national socialism bad, fascism bad, communism bad, capitalism goodš¤š¾
Completely agree capitalism has its problems donāt get me wrong but if weāve faced true fascism or communism we would know. China literally has concentration camps and this map has them green. Itās honestly laughable š¤£
Bottom line, there are collectivists and individualists. Socialist/Communist and fascists are different economic models of the same vision.
Neither is compatible with liberty.
China has literal concentration camps for its Uighur population even though itās communist so yeah I can agree with that.
check this most of "abstaining"šØā one are pro #BTC also except 2 major ones - strange coincidence
Russia and El Salvador
El Salvadorās currency is USD such I hope we can agree is fiat. In 2021 they added Bitcoin as legal tender but that is not their primary currency.
Russia has āpegged ā the Ruble to gold. I do not think they have enough gold to back all circulating currency but itās a good move on their part. The west (US) has sanctioned āRussian goldā so it sells on the black market at a discount to the price of gold, or so Kagi search engine tells me.
A good lesson in something that should be fungible made non-fungible.
I suspect we are on the same page, the world will be a better place when Bitcoin starts overtaking fiat currencies! But we have a long way to go!
"I do not think"...
Yes i wrote it that way as that is my understanding but not that confident, only researched about 3 minutes! What do you think? (about whether Russia has enough gold to fully back the Rubles?)
Ever since the turn of millenium they have been accumulating gold and dedolaraizing. Nobody can say how much anymore, but it seems the sanctions have not affected them at all except help put another nail int he coffin for the US greenback. They, Russia, are definitely doing something right. Meanwhile in America, the banks are failing....
Accoring to Mr. ChatGPT Russia would need 2500 tons of gold to back all Rubles in circulation and estimates put them at 2400 tons in reserve (they probably have more), so I'll give them a yes (although the assumptions to get there are all over the map)