pull down to refresh
This is how the vast majority of money in circulation is created now- not by governments but by private banks.
Bullshit. The banks can only issue infinite loans when the government exists to bail them out. Otherwise they would end up like FTX and the problem wouldn't snowball for decades into a nationwide crisis.
In contrast the Chinese government directs private banks and capital allocation and in this can and does operate its fiat system with the sufficient diligence and direction of fiat debt capital toward productive purposes to deliver a strong and growing economy.
Whether the bank issues the loan and the government bails them out later, or the bank's decisions are controlled by the government directly, it's still fiat. It's still the government shilling a scam token that is only useful for converting to something else before it collapses to zero.
You're still describing a system where capital is deceptively and forcibly transferred from civilians to the government. Why would you expect Mao and his cultists to know anything about building roads?
In the west the bankers have owned our governments for too long
This is such a vague grievance. The issue is that the government prints money. That's it. Whatever they do afterwards with the money they print/steal is illegitimate because it's sourced from a scam. Do you think RMB isn't a scam? Everything premined, or infinitely minable by a single entity, is a scam. That's just basic tokenomics.
government that provides the right framework, property laws, strategic planning, infrastructure and security for a strong economy
If a government can be so smart and considerate then why has no government ever put a cap on the money supply? Why did the market have to invent its own currency to maintain economic stability?
They do say mimicry is the highest from of flattery...
That's why you're holding BTC instead of RMB. Everyone is a capitalist when its their own livehood at stake, and a socialist when they want to control other people.
The mixed economy combines the competition of capitalism with the strategic planning and power projection that only a government can both have a mandate for and can logically implement.
What mandate? They can't capture an island less than half a percent the size of their territory. If warfare is how you measure success then do something.
A mixed economy, when managed diligently can be more effective than Laissez-faire.
True Laissez-fair hasn't been tried until now so please stop using the US federal government as the ultimate example of capitalism. Every economy was mixed until Bitcoin. The state's monopoly on violence is over. Strategy won the trade war. No country can fight a war at scale without Bitcoin.
USA today cannot fight a war of any scale and duration because it lacks supply of rare earths.
The US can't fight a war because half the country would defect. The US is in decline because FDR was a socialist. The industrial revolution that made it capable of fighting a war in the first place was a capitalist movement.
Our country is half communist. The laws that ban construction of nuclear plants, which Trump is trying to repeal, were all pushed through by leftist central planners.
Central planning is always bad. The US has a bunch of central planning and it's just as bad when we do it.
When China builds a nuclear plant it's because the pyschos in the government got out of the way and allowed other people to build it.
The state is for building weapons and concentration camps. The market serves the welfare of the common people. Every country has to adopt capitalism in its own way, or end up like the PRC.
There is definitely a contest to develop the digital trade payments successor to SWIFT and its primarily between USA and China.
So far Strategy is winning.
China has crippled the US military industrial complex with its acquisition of near monopoly over rare earths supply chains.
Yeah no one can dig a hole unless there's a government forcing them to dig it. Sure.
Which government taken more of its citizens out of poverty than any other government in the history of mankind?
Post WWII Japan. That's the best government on earth.
They are perfectly analogous in the example I gave. Did you want a whole separate set of rules for different types of entities?
If there's anything parasitic going on, it's not with Strategy. It's with the issuer of the loan. When the government offers you free money, either you take it, or the entity who does take it drives you out of business. Until the government goes completely bust, there is no other way to compete in a statist market.
They didn't move it around just anywhere. They carried it across time so that people who prefer to buy late at a higher price can do so. Do you think investment gains and broker fees aren't a legitimate form of income? How far are we going with the Marxism?
Really? It's not building unless you have mud on your hands? Your conception of achievement reeks of Marxism.
Simple math. If I earn $20,000 in a year, buy a Bitcoin, then do nothing for two years except sell it for $100k, while a nocoiner spent three years working to earn $80k purely from manual labor, the reason I ended up with more money than him is actually because I worked harder or at the very least, worked more efficiently. Because it takes mental effort to read the market.
It's a good thing because printing fiat to buy Bitcoin is what ultimately drives the purchasing power of fiat to absolute zero and confirms BTC as world reserve currency. It's not enough to warn about the flaws in the old system. Someone has to actively exploit them to prove the point.
And I disagree with the idea that an individual or company which does nothing except trade Bitcoin isn't providing a valuable service. They are. Treasury companies did the work of analyzing their balance sheet, so they chose the best store of value while everyone else chose wrong. It's perfectly fair for them to be incurring a gain in fiat terms.
Wells Fargo loans me one dollar. I don't pay it back, so Wells Fargo asks the government for a dollar instead. Now Wells Fargo is solvent, so they issue new loans, which also don't get paid back, so the government bails them out again. You think Wells Fargo is the problem here?