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Lead Dishwasher @ 6.15² Capital inc LLC

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Etheriem will accept anything; it is the cumrag of crypto - American Hold 798574

Get this shit out of here bobo

Verifying my Nostr Nests identity: yncD5R7_qXSv6nmHjid2tYU1VOsrGZa2_CGEhtbY6z4

https://nostrnests.com

Verifying my Nostr Nests identity: yncD5R7_qXSv6nmHjid2tYU1VOsrGZa2_CGEhtbY6z4

https://nostrnests.com

Verifying my Nostr Nests identity: yncD5R7_qXSv6nmHjid2tYU1VOsrGZa2_CGEhtbY6z4

https://nostrnests.com

creature of jekyll island, digital gold & book of satoshi

I read “The Sovereign Individual”, I thought, “my God they predicted the future”.

Getting the exact same vibes from “The Creature From Jekyll Island”

Those who do not learn history are doomed to repeat it.

👇👇👇

The Creature From Jekyll Island Chapter 2 Summary

THE NAME OF THE GAME IS BAILOUT

SUMMARY

Although national monetary events may appear mysterious and chaotic, they are governed by well-established rules which bankers and politicians rigidly follow. The central fact to understanding these events is that all the money in the banking system has been created out of nothing through the process of making loans. A defaulted loan, therefore, costs the bank little of tangible value, but it shows up on the ledger as a reduction in assets without a corresponding reduction in liabilities. If the bad loans exceed the size of the assets, the bank becomes technically insolvent and must close its doors. The first rule of survival, therefore, is to avoid writing off large, bad loans and, if possible, to at least continue receiving interest payments on them. To accomplish that, the endangered loans are rolled over and increased in size. This provides the borrower with money to continue paying interest plus fresh funds for new spending. The basic problem is not solved, but it is postponed for a little while and made worse.

The final solution on behalf of the banking cartel is to have the federal government guarantee payment of the loan should the borrower default in the future. This is accomplished by convincing Congress that not to do so would result in great damage to the economy and hardship for the people. From that point forward, the burden of the loan is removed from the bank's ledger and transferred to the taxpayer. Should this effort fail and the bank be forced into insolvency, the last resort is to use the FDIC to pay off the depositors. The FDIC is not insurance, because the presence of "moral hazard" makes the thing it supposedly protects against more likely to happen. A portion of the FDIC funds is derived from assessments against the banks. Ultimately, however, they are paid by the depositors themselves. When these funds run out, the balance is provided by the Federal Reserve System in the form of freshly created new money. This floods through the economy causing the appearance of rising prices but which, in reality, is the lowering of the value of the dollar. The final cost of the bailout, therefore, is passed to the public in the form of a hidden tax called inflation.

So much for the rules of the game.

Just finished both of those and loved them. Any recommendations for my next one?