The only thing that doesn’t sleep is money

[phillyflyers]

I’ll take your word for it - I wasn’t around to contradict.

I understand the basics of it - strict controls (2x leverage, backed by loans and had a fixed exchange rate of goods). The simple fact is though that will never be allowed to take control - there are too many hands in the financial cookie jar that would be left without a crumb if drastic changes happened.

Banks now treat crypto like energy treats EVs and solar - they want to control them and set the rules to ensure nothing gains wide set acceptance until they have complete control. Don’t let the competition get too far ahead of you - just stiffle what you can, misinform the masses and hope to control things. We are basically China - but we act like we are superior in our handling. Only difference is China has better health care and a healthier economy. The US is more concerned with giving away to the lowest 20% than protecting the next 40% - all the while the 1% feast on the labor of the people.

We are fueled by greed and consumerism - that will
never change. Unless people are willing to accept living without a large amount of credit - the system cannot be reformed. I don’t disagree that the last 4 years have been an absolute disaster financially as an economy - but so long as our 401ks go up they hope we won’t notice. There is a market bubble forming and it’s not gonna be pretty when it deflates.

Bro, we are going to have a crash that will make the Great Depression look like a Sunday picnic. That will bring in the change you think will never be allowed to happen.

 

[djefferis]

Bro, we are going to have a crash that will make the Great Depression look like a Sunday picnic. That will bring in the change you think will never be allowed to happen.

Again - I don’t disagree there. Mismanagement is going to send this one to an epic level.

All I know is my grandfather survived the big one by working the land and being self reliant - never held a mortgage and never trusted a bank. If it comes to that - I’ve got the same plot of land he did it in, a reliable couple of tractors and no loan on any of it as well as enough ammo to maintain a sense of security and to put meat on a table.

But we had a great crash and what did we learn from it ? A war bailed us out and within 10 years of that boom - we became obsessed with credit and leverage - living beyond our means.

 

[phillyflyers]

Again - I don’t disagree there. Mismanagement is going to send this one to an epic level.

All I know is my grandfather survived the big one by working the land and being self reliant - never held a mortgage and never trusted a bank. If it comes to that - I’ve got the same plot of land he did it in, a reliable couple of tractors and no loan on any of it as well as enough ammo to maintain a sense of security and to put meat on a table.

But we had a great crash and what did we learn from it ? A war bailed us out and within 10 years of that boom - we became obsessed with credit and leverage - living beyond our means.

It's because we live in a debt system that isn't controlled by us.

We have no control over our own money. That right there needs to change first.

Get rid of the federal reserve. It's not federal and there's no reserve.

EDIT: Credit to you for being prepared and credit to your grandfather for teaching you correctly. Well done.

 

[edawg]

The Creature from Jekyll Island is a good read.

 

[djefferis]

I only disagree that we have “no” control over the debt system.

We “could” control it by refusing to participate - every market needs both a buyer and a seller who will agree to terms. By refusing to take the terms - no market exist.

Of course people cannot control the desire for convenience, having more or simple greed. It’s proven - if you make it easy - they will come to you. Why else would people use 33% interest rate credit cards or pay 26% on a used car note because no one will lend what they want at a lower rate - or because they simply are too lazy to shop for a better rate.

Same logic comes into play when government doles out cash freely. Give a man a cell phone - he wants health care, give them health care - they want housing - it doesn’t end. Ultimately you meet all his basic needs so he becomes a drain on your economy and refuses to participate. Next thing you know - your Egypt, Italy, Spain or France and everyone wants whatever they were promised.

Only if we say no to the credit and demand nothing be given do things change - but socialism is way to easy to accept. It’s always been a thing - just sometimes it’s the Catholic Church supporting the poor - sometimes it’s the Democratic Party.