Quote:
Originally Posted by oats
not being specific to the US I meant. central banking as a general practice.
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my statement still stands...central banking an fiat currency revolve around creating money out of debt...the nation buys the currency from the central bank, with interest, an pays the debt in the same currency...it's a system designed to perpetuate the "rich get richer" idealogy...
in layman's terms, u agree to give me a dollar for $1.05...i have to pay u back with that same currency...thus, every dollar i get printed from u puts me $0.05 more in debt...i can never fully pay the debt cuz i have to get more money printed from u to pay it an that increases the debt...
plus, it puts the people at the bottom at the mercy of the central bank...the more money they print the less it is worth an inflation increases, meaning more money is needed...they print less money an it becomes more valuable but is less acquirable, meaning people are generally poorer...
look at the forced surrender of all gold by the american people...we were robbed basically at gun point for all of our actual wealth, an given worthless paper to replace it...people seem to forget that...an those kinds of practices are at the heart of central banking...the shit is a travesty...