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200 sats \ 64 replies \ @DarthCoin 6 Dec \ on: A World Without Money bitcoin
Right now banks are creating money from YOUR own signature. You are the one that create those fiat money and then they trick you to pay them back your own money....
https://www.ecb.europa.eu/ecb-and-you/explainers/tell-me-more/html/what_is_money.en.html
That's why Bitcoin will fix this shit. You cannot spend any sat if you do not have it.
yeah, the credit created disppears with repayment, except for the interest, which needs more credit created to be repayed.
they can't tell the truth even if they tried, lol
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Here is a very good scene (6min) from the movie "El Concursante" explaining how the banks are fooling people... (EN subs)
If somebody want to see the whole movie, is very good, here is the full video:
Read the story again, more carefully. There is no interest in credit money.
You seem to be assuming something entirely different, which is a loan.
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tbh, i didnt read it, was commenting Darth's comment
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now I read it
why should prices be stable?
so the banksters can manipulate the economy?
if it's a free market, then prices should be freely found, else it's collectivism (an academic disease)
call it by it's true name, negotiable instruments, but they don't teach that in schools
https://babylonobserver.com/mystery-paper/
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'why should prices be stable?'
That is not the question. Prices fluctuate all the time, for a lot of real reasons.
The problem is that prices are being distorted by central banks and their fiat money, thus the information they convey. This causes all kinds of huge problems, as listed in Chapter 1. Later chapters will deal with these problems in greater detail.
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academics and their collectivist theories...
a school is a large group of fish, food for whales
Bitcoin fixes this
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Just look what OP was promoting previously... #707088
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consequence of years of academic programming.
that's the goal, turn bitcoin in a currency they can control.
that's why all these famous zionists are suddenly pro crapto
And Darth was parroting ECB propaganda. Actually, Bank of England propaganda, which is where ECB copied it from.
It's all twisted to make sure they don't get the blame for inflation, but everybody else. First central banks blame 'suddenly' greedy companies which must increase prices BECAUSE there is debased money.
Then central banks blame 'suddenly' greedy workers who demand higher wages BECAUSE company profits are higher BECAUSE of debased money.
Last central banks blame commercial banks who must expand credit BECAUSE nominal prices have risen BECAUSE workers get higher wages BECAUSE companies made higher profits BECAUSE central bank debased money.
Don't trust, verify.
Blame not companies, workers, or commercial banks.
Blame the true villains: government and central banks.
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Blame the true villains: government and central banks.
Nobody here says otherwise... idk what's your problem.
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'What's the problem' you ask?
If it is a genuine question:
Harsh comments despite confusing valid money types with invalid ones like fiat, and by confusion of loans with trade credit.
If you are willing to learn, I am here. Trolling does not help.
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LOL I just post an additional information from ECB about how THEY explain money.
You also talk about money, so where is the "trolling"? You suffer from some kind of syndrome?
Anyways, I can comment whatever I want, I paid for that comment.
Geeze people nowadays are fucking sensitive snowflakes...
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It's fine, we both pay for the comments.
I call TROLL anyone who wilfully misrepresents the topic of the article, and replies with inflammatory, irrelevant, and offensive comments.
That snippet you posted is complete nonsense, a red herring. Commercial banks are intermediaries of loanable funds. Central banks are the problem, they create money out of thin air. Commercial banks may try, but the will always bankrupt if they do which is why there was no inflation until fiat money.
Read the attached if you want to understand properly, instead of parrotting propaganda.
https://www.cato.org/working-paper/banks-are-intermediaries-loanable-funds
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I am just presenting what ECB says.
When you go to a commercial bank to sign a mortgage contract, they do not have those money. Once you sign, they present that contract to a central bank and they get some numbers in their balance sheet. That's all. Fake numbers.
So you literally create money with your signature.
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So why would you trust the ECB's propaganda, instead of a free banker like G. Selgin?
Those guys spout red herrings all day on what causes inflation.
Read the article and ask questions if anything is unclear.
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o why would you trust the ECB's propaganda, instead of a free banker like G. Selgin?
Do I said that? I presented only what says ECB about creating money. That's all.
I read the article, but some parts are quite confusing.
And I said: "You cannot spend any sat if you do not have it." And yes, that means credit. You credit yourself.
And I will add: loans in a Bitcoin world will not gonna work like in fiat world. See the 2 videos I posted. Even if a bank will want to lend sats, will not have enough, they must provide reserves, otherwise nobody will use them.
People will simply spend only the sats they have and work hard to earn more.
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If you are confused, as you say, the need is to clarify. So, let's skip ECB propaganda.
Your sat comment is off topic, as the article does not talk about sats.
The comment about loans is off topic, as the article does not talk about loans.
The beginning of the article explicitly clarifies that the topic is different:
"What we get at the bank is a loan. Credit – in the original sense – is something we have: a personal quality. Having credit used to mean ..."
So, there is no need for you to post videos about loans, as that is another topic altogether.
You may wish to read again. I am always willing to clarify any questions on topic.
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as the article does not talk about sats.
- why did you post it into Bitcoin?
- the article is mentioning Bitcoin (sats).
there is no need for you to post videos about loans,
Is very well related if you want people to understand what you want to say in the article
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Q: Why did you post it into Bitcoin?
A: Because there is confusion in Bitcoin that Bitcoin must remain SoV. Very few have awareness that the MoE part works in a different manner, that it is a different layer altogether and quite dispatched from base money.
Claim: [Loan topic] "is very well related"
A: It is not related.
Loans concern the lending of sats against interest.
'Real credit' in trade concerns the two halves of an exchange, displaced in time.
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Because there is confusion in Bitcoin that Bitcoin must remain SoV. Very few have awareness that the MoE part works in a different manner
That nobody here deny it.
Posting additional info as comments doesn't affect in any way your article.
Again, idk why you are so pissed off about the comment about ECB. Is very well important to be mentioned so clueless noobs will make the connections.