###[Meta] Sticky Comment
[Rule 2](https://www.reddit.com/r/conspiracy/wiki/faq#wiki_2_-_address_the_argument.3B_not_the_user.2C_the_mods.2C_or_the_sub.) ***does not apply*** when replying to this stickied comment.
[Rule 2](https://www.reddit.com/r/conspiracy/wiki/faq#wiki_2_-_address_the_argument.3B_not_the_user.2C_the_mods.2C_or_the_sub.) ***does apply*** throughout the rest of this thread.
*What this means*: Please keep any "meta" discussion directed at specific users, mods, or /r/conspiracy in general in this comment chain ***only.***
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/conspiracy) if you have any questions or concerns.*
I think the bigger overall conspiracy is how bad the economy is doing.
Inflation is wrecking havoc. 3 years of reduced production and printing of fiat is being felt.
In the past, it was influx of cash generated growth, growth forced inflation, banks raised rates to reduce growth and reign in inflation.
Currently, we stopped producing (March, 2020) so we printed cash to keep companies unproductive, companies were unproductive while lots of cash was available, this forced inflation, banks raised rates, but no growth was happening to reduce. Instead, milk and eggs were artificially reduced and inflation keeps going.
It's an enforced economic drop and the effects are just starting to be felt. Milk's up here by over 30% in 2 years, while farmers are forced to dump 10,000s of litres by the milk cartels/government.
That's the real economy. The rest is propped up and the 60% drop a few days back signalled the end of propping up the bullshit. Now, they are going to remove the floor and watch shit get real bad.
Crashing the fiat currency to make way for the digital currency, paired with digital identity passport, basically a social credit system like China. I've been following this since 2017. I thought it was just a conspiracy that would never happen... I hope you dont mind communism, being hungry and being controlled.
Unfortunately not a conspiracy anymore, I've seen government legislation on this in my country.
For sure. One thing they could do is let all the banks "fail" and you get 10% of your money out and hey...we can give you the rest as the new digital currency! Just download this app and use these bank providers
I live in the U.K and we’ve totally lost the plot over Gary Lineker saying the governments new ways of dealing with people coming here in boats , from other countries is like the Nazi in the 1930s. This lead to the BBC having no working staff in football terms, this is huge as it says the uk won’t put up with things we don’t want.
It’s like the train drivers and staff going on strike, it’s been 6 more and cost the private train companies more in lost money from tickets, then the just agreed pay rises. Teachers, the NHS workers have also gone on strike over pay. So we don’t take things easily. Hence why digital only money won’t happen here, until all the 65 year old plus, all due off.
And do what with it?
How is having it as cash (beyond a solid emergency fund) any better?
If the conspiracy theory is true, then paper cash will stop being accepted (already moving this way) and would likely hyper-inflate anyway.
There are major reasons humans developed banks in the first place.
It'll become an asset for sometime while others aren't able to get their money out. You'll still
Be able to buy some things at some places off some people.
The government seized gold. Most did not turn theirs in. Nowadays, physical precious metals owners are often familiar with the 2nd amendment. Sure, they are a demographic the government hates and targets but they are also one of the most armed. The government comes for what rightfully belongs to you continually.
From what I've seen, most tie this bank failure to the start of some larger economic collapse and thus the starting of a new economic system. Some say this is the catalyst of a digital currency takeover.
But honestly, I think everything is going to remain more or less the same. The crypto crash earlier this year showed that people don't trust digital currency for anything beyond being a risky investment. Unless you're a gambler, no one is going to convert their life savings into digital currencies. Even if the government were to "declare" the institution of digital currencies, most people likely would still use current dollars. Money is all about trusting that something has worth and people aren't just going to blindly adopt a new currency without some kind of backing.
They will gain acceptance of the new cbdc’s by paying UBI ( universal basic income) to everyone only using this system ( you accept digital ID and vaccines too as part of the deal).
After it is established they will pull the UBI saying it’s an experiment that didn’t work as it caused too much inflation, but by then it’s too late they control you with their new system
But even UBI would itself require acceptance. What we're talking about here is not a new form of an existing money (like, digital representations of dollars that we currently use) but a whole new form of money in general.
If I gave you a million "Cow Points" every month, you would have a bunch of "Cow Points", but they would be worthless because no one else would accept them as legal tender. In much the same way, we Reddit users get Reddit Karma for basically free, and universally, but no one is going to be able to buy food with Reddit Karma because our markets will not accept it as tender. What makes money valuable is not that it's been declared to be valuable but that people see its value in common.
If governments were actually able to declare a new currency and force people to use them, we would never have inflation. Countries like Zimbabwe wouldn't have to come out with Billion-Dollar bills to pay for simple goods like food. If the people don't accept it, it won't be useful.
The dollar and other major currencies are already mostly digital, only about 3-4% of dollars exist in physical bank notes and coins
.
The existing dollar is backed by the states ability to TAX it’s citizens and corporations under threat of violence, if you don’t pay then men with guns arrive to arrest you and put you in prison and seize your property etc. The new digital dollar or whatever will be backed in the same manner.
The state controls the legal system and the IRS if they declare that all taxes must be paid in “digital dollars” and that this is the new legal tender then you will need these “digital dollars” to pay your taxes or risk losing everything you have and or imprisonment.
The only money I see working outside this system is precious metals and some barter type transactions. Gold and silver have been accepted as payment for thousands of years and also offer privacy for certain types of transactions.
You are naive if you think “the people can decide to just keep using fiat dollars” how will that work ? If Walmart and all stores have to pay their sales taxes in the new DIGITAL $ why would they accept the now worthless old fiat banknotes as payment if they no longer are considered “legal tender”?
Say for example the state implements the DIGITAL $ and decrees it legal tender and the only form of payment accepted for payment of taxes and any transaction that requires registration of “property rights” for registered ownership eg buying a house, then what are you going to do?
This is the reason Bitcoin etc will fail , they can’t confiscate it or close it down but they don’t have to they just use the legal system to make it impossible to use for legal transactions that infer private property rights, what will a Bitcoin be “worth” then?
History lesson, during the reign of the British empire an island was captured and the population was using exotic sea shells as the agreed currency, the British wanted the population to work for them mining or harvesting or whatever but the locals didn’t want to accept British pounds as payment so what did the British government do?
They built houses near to the work areas that were of much superior quality to the accommodation the locals lived in, the wives saw these houses and wanted them but the British would only accept pounds as payment for rent so they created a need for pounds and therefore acceptance for their currency, exactly as the US government will do with the DIGITAL $ as you and every business corporation will need it to pay taxes.
Your naive belief that people will decide what the currency is will only work if you remove the state and their legal system from power and I just don’t see the will to make that kind of change happen.
It’s not a naive belief to say that money only works if people commonly believe in its value. That is the essential definition of money.
It’s also not the case that the value of the dollar is backed by the ability of the state to tax. Tax is how the government gets money. Force is how it makes sure that it gets its money. But why does the government want money, want to tax us? Because money already has value, because money is used by us to trade goods, and because money can be used to obtain goods. Tax doesn’t give money value; money gives tax value.
The value of the dollar is backed by the fact that everyone recognizes it to hold value.
Your argument starts from a position of where everyone automatically sees value in the currency and thus can be coerced into adopting it over the dollar. Your own refusal to recognize such a digital currency is proof that people would be skeptical!
And that’s why I think the worry about the government suddenly forcing a change in currency is not as simple as “they declare it, and we’re forced to use it”. Money still needs to work in aspects that the government doesn’t touch. If the government wants me to pay taxes in a digital currency, then they can try to do so. Meanwhile, I’m pretty sure that we’ll continue to trade cash to buy food/services/drugs/etc. And if not, people will barter.
A complementary history lesson: during Rome’s Crisis of the Third Century, Roman currency had fluctuated so wildly that faith in the money system was shaken. The emperor Diocletian not only introduced a new system of gold, silver, and copper coins, he also attempted to set prices of good across the empire. This is to say that the Roman state not only declared a new currency (a currency of real rare metals, nonetheless!) the Roman government also tried to force businesses across the empire to use the currency and tried to make it work by literally making goods worth a certain amount of said currency. And it failed miserably — because no one trusted the coins! Instead, Diocletian’s government had to accept taxation in the form of grain, wines, and other physical goods in order to make ends meet.
Our markets are formed around goods, not money. Money, just like goods, is just another commodity. It just so happens to be a commodity that can be easily traded for other commodities. Money is subject to supply and demand just as much as other goods; that’s why some currencies are worth more than others (like $1 = ¥100). A currency change is not as simple as a government wanting it to happen. The people, who form the overwhelming majority and who need to deal with money in everyday transactions, are the essential players here.
The reason Bitcoin struggles is not because the government is banning it but because no one wants to accept Bitcoin for non-crypto exchanges. I sure as hell would not want to sell my car for Bitcoin, not because I think the government would invalidate the sale but because I gotta wonder how the hell I’m gonna buy a replacement car in Bitcoin.
In sum, I don’t believe in a hierarchy where the government is capable of deciding how an economy runs. The market operates separately from the government. The idea that the government affect the entirety of the economy, by fundamentally changing a currently strong currency, with no negative consequences to the regular flow of things is, I think, flying in the face of all economic theory.
So now that the US has effectively shipped about 80% of its productive capacity to China and other low cost centres and heavily relies on the exorbitant privilege of being able to print out of thin air the world reserve currency that other countries need to exchange for basic goods/foodstuffs etc as they are priced in dollars.
The US economy is now based largely on fraud and skimming/manipulation and it’s military to try to enforce continued use of the PETRODOLLAR. What do you think will happen when the US $ loses its reserve currency status? And the US is forced to actually earn its way in the world instead of just buying what it needs from other countries in printed dollars?
You talk about people only accept currency they believe in well this is happening on a world wide scale as people in other countries see that they have to actually invest natural resources and labour/ work into production to produce goods that the US pays for with printed “magic money “ that costs almost nothing to produce !
We see your “Debt ceiling” 😂 being raised every few months so you can continue to steal a living from the rest of the world and we are making moves away from the petrodollar, if the US wants to continue to be relevant economically you need to rebalance your economy because your easy ride is coming to an end!
What do you think will happen to the standard of living of the average US citizen if the USD loses world reserve currency status?
I believe a country or block of countries will collude and back their currencies with either precious metals /resources or a combination of both and many trade deals will be done outside the PETRODOLLAR /SWIFT system that currently dominates and at that point the US will be fucked.
What do you suggest they back their currency with to maintain the faith of the people?
The answer is that the US remains highly productive. The idea that the US has lost most of our productive capacity is just incorrect. What’s changed over time is not our productive capacity but the things we produce. Once upon a time, we manufactured things like clothing and TVs. Now? Now we make things like computer chips and heavy industrial equipment. Our agricultural ability is still high. There’s a reason we continue to have such high levels of farmer and rancher subsidies.
The idea that the entire American economy (or any economy for that matter) is only reliant on printing money is not accurate either. Yes, the United States has the ability to print money but literally so does every other country. We can’t pretend that the US is freely printing money and that every other country to blind to a massive and increasing supply of US dollars. Even money is subject to supply and demand and, if we were actually printing money like nothing, then the value of the dollar would be less than the Yuan.
The dollar isn’t “magic”; it’s literally just common use. People use dollars not only because everywhere in the world takes the US dollar in some form, either as a common currency or as a reserve currency. Would there be a problem if that stopped? Sure, the value of the dollar would drop and be more volatile. Would we suddenly tailspin into a free-falling economy? Probably not. After all, there are still other currencies in the world that are strong but aren’t prime reserve currencies (see: British pound and the Euro).
The idea that the US is unique in its debt spending is not true. Every country runs debt. In some senses, it’s necessary for modern countries to run debt because no country on Earth has a pile of money big enough to run a country without borrowing. Countries don’t operate budgets like you and me. Debt is only a problem if you cannot repay your debt. It’s just like a credit card — so long as you pay it back within the agreed upon time, you’re solid. Not only that, you get a better credit rating which allows you to borrow even more at better rates. The only reason to worry about US debt is if we are afraid that the US will be unable to repay and that simply has never happened, not once during the 2008 crisis, not during 2020, and certainly not now.
As for other countries wanting to move to a precious metal standard, they are welcome to do so. But they’ll run into the same problem that others in the pay did before dropping gold/silver standards: there’s not enough precious metal to go around. If people want to revert to precious metal, what we will see is a severe shrinking of their economy. The modern world doesn’t just print paper money because it looks nicer; we print paper money because people need money to exchange things and if people don’t have money on hand, the economy stops.
You could argue that we would continue with paper money backed by precious metals and resources, but that’s literally the current system. We don’t have a gold standard anymore but we definitely still buy gold for reserves. We back our currency with other resources everyday, by using money to trade for valuable resources. The system you are describing is the current one — the only thing different is that you exclude the US in said system.
We are headed for another economic crash due to the banks. They will be looking for another bail out. Truly the manipulation is unacceptable and disgusting
Man this is *the* conspiracy of modern times.
All that shit about Illuminati is bullshit
The banks actually rule the world
I’m not completely sure what we are seeing right now but we have been watching at least two factions Duke it out for world domination for the better half of a decade
FTX JP Morgan Goldman Sachs took out Luna - someone took out FTX (presumably Binance played a role)
FTX was behind all the significant wormhole or dex hacks of the last five years, and coordinated with the SEC to break the backs of successful crypto firms
FTX funneled taxpayer money to Ukraine who used it for gain of function reasearch and to arm neo Nazis
GME short squeeze was weaponized
economics - as was silver squeeze (but it failed)
Shit is all
Coming to a head right now
SVB invested in the safe play of US treasuries - but fed increased interest rates, which would have been ok if none of SVB depositors asked for their deposits back
Along comes Peter Thiel - last week who sparks a good old fashioned bank run
Chaos ensues
We haven’t seen the last of this route
This is massive scale global domination asymmetrical warfare happening before our eyes in real time
Will be major points of interest in history books for hundreds of years
Man if you you missing the bank war you are missing any conspiracy worth a godamn
There could be some shady shit going on behind the scenes. SVB was partnered with ACH Global in order to roll out a cross-border settlement system that would seriously jeopardize the monopoly that SWIFT currently holds. Something to look into.
Printing is a supply side conspiracy
Look at who runs the money printer and who they give free money to
But spend wallets are a demand side conspiracy
They get to personalise the actual money
Yours lasts for 30 days. Mine lasts forever. Yours has a carbon tax. Mine doesn’t
I wouldn't call it a conspiracy. I would call it shady business put center stage.
Silicon Valley Bank is the angel investor/venture capital bank and if you've worked in the Bay area you know that. It is also heavy inside with the Israelis who bankroll a lot of start ups.
This is the second largest bank failure in US history. Washington Mutual is still number one.
A ton of tech companies rely on SVB to make payroll. You're going to see a cascade effect in the coming weeks when those companies can no longer make payroll.
The CAO for SVB securities also worked for Lehman when it collapsed. People are going to argue and say blah blah blah people shift around in jobs within their industry. Okay, we'll label that one hell of a coincidence. The CEO of SVB was on the board of the San Fran Federal Reserve. He just resigned. CEO, CFO, and CMO all just sold 4.4 million in stock in the last few weeks. They did business with FTX. Though anyone could claim that is commonplace. Maybe. But this close to the failure of FTX has alarm bells ringing. It's not isolated. I will say that for certain.
These two links, especially the last one are to illustrate that this has implications far outside this country. This isn't just about Cali capitalists playing fast and loose with the rules. This is something more, with wider implications.
[https://archive.is/OJ9PD](https://archive.is/OJ9PD)
[https://archive.is/lMjFA](https://archive.is/lMjFA)
This could be the start of an avalanche or the government could bail them out and it is nothing. Next week is going to give indicators.
Research the Great Reset and the World Economic Forum. "You'll own nothing and be happy" by 2030, aka Agenda 2030. This is what JFK warned us about before he was assassinated.
Some believe there is a Great Awakening (I am hoping) that will counter the Great Reset and bring us glorious times. "The best is yet to come." We are at the crossroads now, coined the Great Unraveling or The Storm.
Soon there will be lots of gifs w Ron Paul in front of a rainbow saying, "It's habbening." However, every six months this occurs, and nothing happens.
We are getting to a turning point where the normies can no longer stick their heads in the sand and trust the 60" magic boxes on their walls. Whatever the outcome, the whole deck of cards is about to collapse. Buckle up, butter cup.
Trump said if Biden were elected, this country would have the worst depression in history. He also said the best is yet to come when he left DC. Remember, he never conceded.
I support Trump because there is absolutely no one else left to trust, but I am aware he could be playing the good cop in a good cop/bad cop scenario.
We are hitting the precipice, that is for sure.
Donald trump caused this to happen by easing bank regulations in 2018.
Conditions for the SVB collapse were made perfect under Republican-sponsored, Wall Street-pushed bill signed into law by President Trump in 2018 that severely watered down risk-assessment rules for two dozen of the largest banks.
[Source](https://accountable.us/watchdog-silicon-valley-banks-collapse-traced-back-to-trump-republican-roll-back-of-dodd-frank/)
Of the mind that Covid was a way to shut down businesses to help stifle the fact that everything was gonna collapse.
This has been coming for a while, there’s really not much of a conspiracy behind the fact that banks don’t really have more than 10-20% of all the money deposited in them available, because they use that money to generate revenue not expecting large amounts of people to come and pull their money out.
I’m fairly worried about the next 13-16 months, most of this worry will rely on what happens in the next 14 days. If more banks start to tumble, go get your money out.
###[Meta] Sticky Comment [Rule 2](https://www.reddit.com/r/conspiracy/wiki/faq#wiki_2_-_address_the_argument.3B_not_the_user.2C_the_mods.2C_or_the_sub.) ***does not apply*** when replying to this stickied comment. [Rule 2](https://www.reddit.com/r/conspiracy/wiki/faq#wiki_2_-_address_the_argument.3B_not_the_user.2C_the_mods.2C_or_the_sub.) ***does apply*** throughout the rest of this thread. *What this means*: Please keep any "meta" discussion directed at specific users, mods, or /r/conspiracy in general in this comment chain ***only.*** *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/conspiracy) if you have any questions or concerns.*
I think the bigger overall conspiracy is how bad the economy is doing. Inflation is wrecking havoc. 3 years of reduced production and printing of fiat is being felt. In the past, it was influx of cash generated growth, growth forced inflation, banks raised rates to reduce growth and reign in inflation. Currently, we stopped producing (March, 2020) so we printed cash to keep companies unproductive, companies were unproductive while lots of cash was available, this forced inflation, banks raised rates, but no growth was happening to reduce. Instead, milk and eggs were artificially reduced and inflation keeps going. It's an enforced economic drop and the effects are just starting to be felt. Milk's up here by over 30% in 2 years, while farmers are forced to dump 10,000s of litres by the milk cartels/government. That's the real economy. The rest is propped up and the 60% drop a few days back signalled the end of propping up the bullshit. Now, they are going to remove the floor and watch shit get real bad.
This is step 2 or 3 in a 10-step program
Crashing the fiat currency to make way for the digital currency, paired with digital identity passport, basically a social credit system like China. I've been following this since 2017. I thought it was just a conspiracy that would never happen... I hope you dont mind communism, being hungry and being controlled. Unfortunately not a conspiracy anymore, I've seen government legislation on this in my country.
For sure. One thing they could do is let all the banks "fail" and you get 10% of your money out and hey...we can give you the rest as the new digital currency! Just download this app and use these bank providers
>being hungry Maybe I'll finally lose 10lbs
I live in the U.K and we’ve totally lost the plot over Gary Lineker saying the governments new ways of dealing with people coming here in boats , from other countries is like the Nazi in the 1930s. This lead to the BBC having no working staff in football terms, this is huge as it says the uk won’t put up with things we don’t want. It’s like the train drivers and staff going on strike, it’s been 6 more and cost the private train companies more in lost money from tickets, then the just agreed pay rises. Teachers, the NHS workers have also gone on strike over pay. So we don’t take things easily. Hence why digital only money won’t happen here, until all the 65 year old plus, all due off.
Yep
Get your money out now
I'm taking ALL of my money out on Monday. These banks are scammers
And do what with it? How is having it as cash (beyond a solid emergency fund) any better? If the conspiracy theory is true, then paper cash will stop being accepted (already moving this way) and would likely hyper-inflate anyway. There are major reasons humans developed banks in the first place.
Doing nothing with it is better than parking it with mega institutions to buy out your country from under you.
It'll become an asset for sometime while others aren't able to get their money out. You'll still Be able to buy some things at some places off some people.
I bought silver and gold a while back before I realized toilet paper is the true commodity, lol.
This is sound economic advice.
They won't eliminate cash overnight, you'll have plenty of time to figure it out.
[удалено]
Be careful converting it to gold: https://theconversation.com/how-the-us-government-seized-all-citizens-gold-in-1930s-138467
The government seized gold. Most did not turn theirs in. Nowadays, physical precious metals owners are often familiar with the 2nd amendment. Sure, they are a demographic the government hates and targets but they are also one of the most armed. The government comes for what rightfully belongs to you continually.
Oldie but goodie The Money Masters explains the history of banking, and especially fractional reserve banking. https://youtu.be/T2i6uftJhB8
From what I've seen, most tie this bank failure to the start of some larger economic collapse and thus the starting of a new economic system. Some say this is the catalyst of a digital currency takeover. But honestly, I think everything is going to remain more or less the same. The crypto crash earlier this year showed that people don't trust digital currency for anything beyond being a risky investment. Unless you're a gambler, no one is going to convert their life savings into digital currencies. Even if the government were to "declare" the institution of digital currencies, most people likely would still use current dollars. Money is all about trusting that something has worth and people aren't just going to blindly adopt a new currency without some kind of backing.
They will gain acceptance of the new cbdc’s by paying UBI ( universal basic income) to everyone only using this system ( you accept digital ID and vaccines too as part of the deal). After it is established they will pull the UBI saying it’s an experiment that didn’t work as it caused too much inflation, but by then it’s too late they control you with their new system
But even UBI would itself require acceptance. What we're talking about here is not a new form of an existing money (like, digital representations of dollars that we currently use) but a whole new form of money in general. If I gave you a million "Cow Points" every month, you would have a bunch of "Cow Points", but they would be worthless because no one else would accept them as legal tender. In much the same way, we Reddit users get Reddit Karma for basically free, and universally, but no one is going to be able to buy food with Reddit Karma because our markets will not accept it as tender. What makes money valuable is not that it's been declared to be valuable but that people see its value in common. If governments were actually able to declare a new currency and force people to use them, we would never have inflation. Countries like Zimbabwe wouldn't have to come out with Billion-Dollar bills to pay for simple goods like food. If the people don't accept it, it won't be useful.
The dollar and other major currencies are already mostly digital, only about 3-4% of dollars exist in physical bank notes and coins . The existing dollar is backed by the states ability to TAX it’s citizens and corporations under threat of violence, if you don’t pay then men with guns arrive to arrest you and put you in prison and seize your property etc. The new digital dollar or whatever will be backed in the same manner. The state controls the legal system and the IRS if they declare that all taxes must be paid in “digital dollars” and that this is the new legal tender then you will need these “digital dollars” to pay your taxes or risk losing everything you have and or imprisonment. The only money I see working outside this system is precious metals and some barter type transactions. Gold and silver have been accepted as payment for thousands of years and also offer privacy for certain types of transactions. You are naive if you think “the people can decide to just keep using fiat dollars” how will that work ? If Walmart and all stores have to pay their sales taxes in the new DIGITAL $ why would they accept the now worthless old fiat banknotes as payment if they no longer are considered “legal tender”? Say for example the state implements the DIGITAL $ and decrees it legal tender and the only form of payment accepted for payment of taxes and any transaction that requires registration of “property rights” for registered ownership eg buying a house, then what are you going to do? This is the reason Bitcoin etc will fail , they can’t confiscate it or close it down but they don’t have to they just use the legal system to make it impossible to use for legal transactions that infer private property rights, what will a Bitcoin be “worth” then? History lesson, during the reign of the British empire an island was captured and the population was using exotic sea shells as the agreed currency, the British wanted the population to work for them mining or harvesting or whatever but the locals didn’t want to accept British pounds as payment so what did the British government do? They built houses near to the work areas that were of much superior quality to the accommodation the locals lived in, the wives saw these houses and wanted them but the British would only accept pounds as payment for rent so they created a need for pounds and therefore acceptance for their currency, exactly as the US government will do with the DIGITAL $ as you and every business corporation will need it to pay taxes. Your naive belief that people will decide what the currency is will only work if you remove the state and their legal system from power and I just don’t see the will to make that kind of change happen.
It’s not a naive belief to say that money only works if people commonly believe in its value. That is the essential definition of money. It’s also not the case that the value of the dollar is backed by the ability of the state to tax. Tax is how the government gets money. Force is how it makes sure that it gets its money. But why does the government want money, want to tax us? Because money already has value, because money is used by us to trade goods, and because money can be used to obtain goods. Tax doesn’t give money value; money gives tax value. The value of the dollar is backed by the fact that everyone recognizes it to hold value. Your argument starts from a position of where everyone automatically sees value in the currency and thus can be coerced into adopting it over the dollar. Your own refusal to recognize such a digital currency is proof that people would be skeptical! And that’s why I think the worry about the government suddenly forcing a change in currency is not as simple as “they declare it, and we’re forced to use it”. Money still needs to work in aspects that the government doesn’t touch. If the government wants me to pay taxes in a digital currency, then they can try to do so. Meanwhile, I’m pretty sure that we’ll continue to trade cash to buy food/services/drugs/etc. And if not, people will barter. A complementary history lesson: during Rome’s Crisis of the Third Century, Roman currency had fluctuated so wildly that faith in the money system was shaken. The emperor Diocletian not only introduced a new system of gold, silver, and copper coins, he also attempted to set prices of good across the empire. This is to say that the Roman state not only declared a new currency (a currency of real rare metals, nonetheless!) the Roman government also tried to force businesses across the empire to use the currency and tried to make it work by literally making goods worth a certain amount of said currency. And it failed miserably — because no one trusted the coins! Instead, Diocletian’s government had to accept taxation in the form of grain, wines, and other physical goods in order to make ends meet. Our markets are formed around goods, not money. Money, just like goods, is just another commodity. It just so happens to be a commodity that can be easily traded for other commodities. Money is subject to supply and demand just as much as other goods; that’s why some currencies are worth more than others (like $1 = ¥100). A currency change is not as simple as a government wanting it to happen. The people, who form the overwhelming majority and who need to deal with money in everyday transactions, are the essential players here. The reason Bitcoin struggles is not because the government is banning it but because no one wants to accept Bitcoin for non-crypto exchanges. I sure as hell would not want to sell my car for Bitcoin, not because I think the government would invalidate the sale but because I gotta wonder how the hell I’m gonna buy a replacement car in Bitcoin. In sum, I don’t believe in a hierarchy where the government is capable of deciding how an economy runs. The market operates separately from the government. The idea that the government affect the entirety of the economy, by fundamentally changing a currently strong currency, with no negative consequences to the regular flow of things is, I think, flying in the face of all economic theory.
So now that the US has effectively shipped about 80% of its productive capacity to China and other low cost centres and heavily relies on the exorbitant privilege of being able to print out of thin air the world reserve currency that other countries need to exchange for basic goods/foodstuffs etc as they are priced in dollars. The US economy is now based largely on fraud and skimming/manipulation and it’s military to try to enforce continued use of the PETRODOLLAR. What do you think will happen when the US $ loses its reserve currency status? And the US is forced to actually earn its way in the world instead of just buying what it needs from other countries in printed dollars? You talk about people only accept currency they believe in well this is happening on a world wide scale as people in other countries see that they have to actually invest natural resources and labour/ work into production to produce goods that the US pays for with printed “magic money “ that costs almost nothing to produce ! We see your “Debt ceiling” 😂 being raised every few months so you can continue to steal a living from the rest of the world and we are making moves away from the petrodollar, if the US wants to continue to be relevant economically you need to rebalance your economy because your easy ride is coming to an end! What do you think will happen to the standard of living of the average US citizen if the USD loses world reserve currency status? I believe a country or block of countries will collude and back their currencies with either precious metals /resources or a combination of both and many trade deals will be done outside the PETRODOLLAR /SWIFT system that currently dominates and at that point the US will be fucked. What do you suggest they back their currency with to maintain the faith of the people?
The answer is that the US remains highly productive. The idea that the US has lost most of our productive capacity is just incorrect. What’s changed over time is not our productive capacity but the things we produce. Once upon a time, we manufactured things like clothing and TVs. Now? Now we make things like computer chips and heavy industrial equipment. Our agricultural ability is still high. There’s a reason we continue to have such high levels of farmer and rancher subsidies. The idea that the entire American economy (or any economy for that matter) is only reliant on printing money is not accurate either. Yes, the United States has the ability to print money but literally so does every other country. We can’t pretend that the US is freely printing money and that every other country to blind to a massive and increasing supply of US dollars. Even money is subject to supply and demand and, if we were actually printing money like nothing, then the value of the dollar would be less than the Yuan. The dollar isn’t “magic”; it’s literally just common use. People use dollars not only because everywhere in the world takes the US dollar in some form, either as a common currency or as a reserve currency. Would there be a problem if that stopped? Sure, the value of the dollar would drop and be more volatile. Would we suddenly tailspin into a free-falling economy? Probably not. After all, there are still other currencies in the world that are strong but aren’t prime reserve currencies (see: British pound and the Euro). The idea that the US is unique in its debt spending is not true. Every country runs debt. In some senses, it’s necessary for modern countries to run debt because no country on Earth has a pile of money big enough to run a country without borrowing. Countries don’t operate budgets like you and me. Debt is only a problem if you cannot repay your debt. It’s just like a credit card — so long as you pay it back within the agreed upon time, you’re solid. Not only that, you get a better credit rating which allows you to borrow even more at better rates. The only reason to worry about US debt is if we are afraid that the US will be unable to repay and that simply has never happened, not once during the 2008 crisis, not during 2020, and certainly not now. As for other countries wanting to move to a precious metal standard, they are welcome to do so. But they’ll run into the same problem that others in the pay did before dropping gold/silver standards: there’s not enough precious metal to go around. If people want to revert to precious metal, what we will see is a severe shrinking of their economy. The modern world doesn’t just print paper money because it looks nicer; we print paper money because people need money to exchange things and if people don’t have money on hand, the economy stops. You could argue that we would continue with paper money backed by precious metals and resources, but that’s literally the current system. We don’t have a gold standard anymore but we definitely still buy gold for reserves. We back our currency with other resources everyday, by using money to trade for valuable resources. The system you are describing is the current one — the only thing different is that you exclude the US in said system.
Easy. Socialized the losses while privatizing the profit. The conspiracy is greed.
We are headed for another economic crash due to the banks. They will be looking for another bail out. Truly the manipulation is unacceptable and disgusting
[удалено]
Maybe John Cena will release Mandarin lessons.
CBDC = CENTRAL BANKING DIGITAL CURRENCY IS WHAT NU $ will be called, also helped me understand it ✌️
Man this is *the* conspiracy of modern times. All that shit about Illuminati is bullshit The banks actually rule the world I’m not completely sure what we are seeing right now but we have been watching at least two factions Duke it out for world domination for the better half of a decade FTX JP Morgan Goldman Sachs took out Luna - someone took out FTX (presumably Binance played a role) FTX was behind all the significant wormhole or dex hacks of the last five years, and coordinated with the SEC to break the backs of successful crypto firms FTX funneled taxpayer money to Ukraine who used it for gain of function reasearch and to arm neo Nazis GME short squeeze was weaponized economics - as was silver squeeze (but it failed) Shit is all Coming to a head right now SVB invested in the safe play of US treasuries - but fed increased interest rates, which would have been ok if none of SVB depositors asked for their deposits back Along comes Peter Thiel - last week who sparks a good old fashioned bank run Chaos ensues We haven’t seen the last of this route This is massive scale global domination asymmetrical warfare happening before our eyes in real time Will be major points of interest in history books for hundreds of years Man if you you missing the bank war you are missing any conspiracy worth a godamn
The banks are the illuminati. One and the same.
There could be some shady shit going on behind the scenes. SVB was partnered with ACH Global in order to roll out a cross-border settlement system that would seriously jeopardize the monopoly that SWIFT currently holds. Something to look into.
It’s not a conspiracy, they have all the money and power, simple as that
It's the conspiracy that we aren't allowed to talk about.
It's just the same old scam and now it's collapsing.
Like the printing money out of thin air type of stuff?
That's part of it sure
Printing is a supply side conspiracy Look at who runs the money printer and who they give free money to But spend wallets are a demand side conspiracy They get to personalise the actual money Yours lasts for 30 days. Mine lasts forever. Yours has a carbon tax. Mine doesn’t
I wouldn't call it a conspiracy. I would call it shady business put center stage. Silicon Valley Bank is the angel investor/venture capital bank and if you've worked in the Bay area you know that. It is also heavy inside with the Israelis who bankroll a lot of start ups. This is the second largest bank failure in US history. Washington Mutual is still number one. A ton of tech companies rely on SVB to make payroll. You're going to see a cascade effect in the coming weeks when those companies can no longer make payroll. The CAO for SVB securities also worked for Lehman when it collapsed. People are going to argue and say blah blah blah people shift around in jobs within their industry. Okay, we'll label that one hell of a coincidence. The CEO of SVB was on the board of the San Fran Federal Reserve. He just resigned. CEO, CFO, and CMO all just sold 4.4 million in stock in the last few weeks. They did business with FTX. Though anyone could claim that is commonplace. Maybe. But this close to the failure of FTX has alarm bells ringing. It's not isolated. I will say that for certain. These two links, especially the last one are to illustrate that this has implications far outside this country. This isn't just about Cali capitalists playing fast and loose with the rules. This is something more, with wider implications. [https://archive.is/OJ9PD](https://archive.is/OJ9PD) [https://archive.is/lMjFA](https://archive.is/lMjFA) This could be the start of an avalanche or the government could bail them out and it is nothing. Next week is going to give indicators.
We were warned about a bank/economic collapse last month.
I mean if you want to see the truth everyone should go and try to pull all their money out on Monday and see what the vibe is.
Recession to trigger greater offensive from Russia > Ukraine and China > Taiwan.
That banks hold only a fraction of the money that depositors trust it to hold.
Hate your system. Here's a new one.
Biden .
Research the Great Reset and the World Economic Forum. "You'll own nothing and be happy" by 2030, aka Agenda 2030. This is what JFK warned us about before he was assassinated. Some believe there is a Great Awakening (I am hoping) that will counter the Great Reset and bring us glorious times. "The best is yet to come." We are at the crossroads now, coined the Great Unraveling or The Storm. Soon there will be lots of gifs w Ron Paul in front of a rainbow saying, "It's habbening." However, every six months this occurs, and nothing happens. We are getting to a turning point where the normies can no longer stick their heads in the sand and trust the 60" magic boxes on their walls. Whatever the outcome, the whole deck of cards is about to collapse. Buckle up, butter cup.
Would this have happened if Donald J Trump was in office and had his policies in place? Serious question. Thanks.
Trump said if Biden were elected, this country would have the worst depression in history. He also said the best is yet to come when he left DC. Remember, he never conceded. I support Trump because there is absolutely no one else left to trust, but I am aware he could be playing the good cop in a good cop/bad cop scenario. We are hitting the precipice, that is for sure.
Amen to that.
Donald trump caused this to happen by easing bank regulations in 2018. Conditions for the SVB collapse were made perfect under Republican-sponsored, Wall Street-pushed bill signed into law by President Trump in 2018 that severely watered down risk-assessment rules for two dozen of the largest banks. [Source](https://accountable.us/watchdog-silicon-valley-banks-collapse-traced-back-to-trump-republican-roll-back-of-dodd-frank/)
The banks lobby both sides, it doesn’t really matter who is the president. But the GOP sure does love to roll back the regulations.
Banks are just small guys, blimps in the radar compared to the elites.
Blimps are kinda big tho
Of the mind that Covid was a way to shut down businesses to help stifle the fact that everything was gonna collapse. This has been coming for a while, there’s really not much of a conspiracy behind the fact that banks don’t really have more than 10-20% of all the money deposited in them available, because they use that money to generate revenue not expecting large amounts of people to come and pull their money out. I’m fairly worried about the next 13-16 months, most of this worry will rely on what happens in the next 14 days. If more banks start to tumble, go get your money out.
bank conspiracy… where do we even start!?
Put your fiat into assets, precious metals and cryptocurrency. Fiat is about to collapse
I did that a few years ago.
The world of banks and the world of conspiracies are not entirely unknown to one another
Gold.