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Comment on Wreck the economy because it only works for the billionaire class.

Currency isn’t worth a shit cause it ain’t money. Money should be out of all stable saving of value. Gold is money, precious metals are money, diamonds are money. Currencies are worthless shit created to infinity by banks and hold together by enforcement of governments which are deep in debt to those bank so cannot do a fucking shit about that. All of our tax money goes straight to banks.

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Ulv@feddit.nu ⁨1⁩ ⁨year⁩ ago
You try too pay for potatoes and pork with a krugerrand and tell me how that works out

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- dynamo@lemm.ee ⁨1⁩ ⁨year⁩ ago
  With a what?
  
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  - VinnieFarsheds@lemmy.world ⁨1⁩ ⁨year⁩ ago
    A KRUGERRAND!
    
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  - One_Honest_Dude@lemmy.world ⁨1⁩ ⁨year⁩ ago
    They are gold coins minted in South Africa. One of the most popular coins for people who want to own gold.
    
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Trainguyrom@reddthat.com ⁨1⁩ ⁨year⁩ ago
Having worked at a bank for a year I can certainly say, banks need the federal government just as much as the federal government needs the banks. The federal government (as well as state governments) frequently use banks as a low cost, low risk way to increase access to capital for those that need it, as well as of course controlling interest rates to then control the speed that the economy grows or shrinks

A well-regulated private banking industry allows the competing interests of a government and a private company to compliment eachother in ways that really only become apparent from directly working in the industry. The government provides grants and subsidies to allow small banks to provide access to capital that might not otherwise exist, competition with other banks forces banks to provide better services to customers and government regulations prevent banks from taking too much risk or doing too much harm, plus a strong government safetynet protecting bank customers from failure all come together to provide a surprisingly good system. I’m not saying private banks are perfect nor that its the best system one could dream up, but in a society that relies on capitalism as a method to limit access to resources, a well regulated private banking industry with strong competition (which we actually largely have!) is really good for consumers

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- uriel238@lemmy.blahaj.zone ⁨1⁩ ⁨year⁩ ago
  A well-regulated private banking industry
  
  Remember that shareholder primacy assures the banks will pressure the government to deregulate, eventually capturing regulatory departments, as has happened in the US (if not the whole developed world).
  
  Marx explains this in Das Kapital even when there was a notion of social responsibility. But after Dodge v. Ford Motor Company in 1919, it was established by judicial ruling that publicly owned companies have interests in direct opposition to the public, and should not be allowed to influence government, which is meant to serve the interests of the public (and only the public).
  
  Even in 1919, plutocrats had already been dismantling US democracy towards oligarchy. It had failed just as the Soviet Union was trying its hand at ur-communism (and being sabotaged by Wilson).
  
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Cethin@lemmy.zip ⁨1⁩ ⁨year⁩ ago
Gold is not money. Gold is something that some people value but has no value in itself. It’s useful in small quantities for electronics, but other than that it just looks pretty. It has almost no utility. If an apocalypse happens and society fails, gold won’t be worth anything. If people need food, water, shelter to survive, they won’t accept your gold for payment. They can’t eat that. Booze may be a good item that will retain value well, but gold will not.

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Ignisnex@lemmy.world ⁨1⁩ ⁨year⁩ ago
Currency is a very useful tool to gauge the worth of dissimilar items used for trading. It’s a trait known as fungibility. Without it, we’re in full barter mode. The barter system is… deeply flawed for one reason. If you don’t have anything the seller wants, you’re SOL. You wanna buy food, but don’t have gold, silver, or a skill that the food vendor needs? Well, you’re going to be hungry. Abstracting value to a useless piece of paper that denotes a value, and is enforced by the power of the land (a government) means that paper can buy food, shelter, comforts, whatever you need. It’s an objectively better system.

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Saltblue@lemmy.world ⁨1⁩ ⁨year⁩ ago
Least insane libertarian.

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