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Rank #12063 on CommentsLevel 184 Comments: Anon Annihilator
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Y'know, people get pretzeled on a lot of things. Me? I make the pretzels.cancelcomment
|Date Signed Up:||12/23/2012|
|Funnyjunk Career Stats|
|Highest Content Rank:||#7616|
|Highest Comment Rank:||#5108|
|Content Thumbs:||123 total, 136 , 13|
|Comment Thumbs:||933 total, 1103 , 170|
|Content Level Progress:|| 30% (3/10) |
Level 12 Content: New Here → Level 13 Content: New Here
|Comment Level Progress:|| 90% (9/10) |
Level 184 Comments: Anon Annihilator → Level 185 Comments: Anon Annihilator
|Times Content Favorited:||2 times|
|Total Comments Made:||701|
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#135 - Ken M (05/23/2014) [-]
youre an idiot
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#197 - Yardie (05/18/2014) [-]
"We must do away with private banks and create a socialized bank"
A socialized Bank is incredibly dangerous. You then have 1% of people controlling 100% of the money. This is insanely unstable. Any amount of corruption and the Country could quickly become ridiculously Authoritarian.
#211 - Ken M (05/18/2014) [-]
No, you have 100% of people controling it with their representatives. And you remove banksters from bribing politicians. You can't change the owner of a private bank, but every 4 years you can change people in power of socialist bank. Better that than nothing.
#230 - Yardie (05/18/2014) [-]
You can elect not to participate in the actions a private bank takes though. If you have a Socialized bank that everybody is forced to put their money in, and that bank makes a mistake, everybody is screwed.
It means people are not allowed to invest in what they believe is right. It allows the Government to invest in what they believe is right.
Given the track record of Governments to blow up every single god damned thing in sight, I highly doubt that the Government would place the money in highly destructive investments.
#233 - Ken M (05/18/2014) [-]
Banks only screw because they create get-rich-quick schemes, your "investments". Socialistic bank would offer only simple banking. We are screwed when private bank screws, you have government guarantees on savings, people lose jobs etc.
Government mostly screws when they are bribed to screw. Or people just say it screws because they want power from gov for themselfs, or weak gov so they can do whatever evil they want. Ether we have in power elected representatives (government), or few rich. No other choice, so i prefer the first thing.
#234 - Yardie (05/18/2014) [-]
Investments are no simply get rich quick schemes. This only happens when the Government guarantees loans. Banks will make risky investments because they don't have to worry about losing money and going out of business.
In a free market the banks that go for "get-rich-quick" schemes would fail very quickly. The banks that make intelligent investments that have good returns will prosper.
The Government is a monopoly on force. It's not an actual "thing" but a collective of individuals with wants and desires just like everybody else. The difference between Government and normal people is that Government Officials are allowed to do things that would normally be considered immoral. This allows them to get away with things that are damaging to the economy, like taking money and using it to invest in ideas that they're interested in rather than things that will actually be beneficial to society, or simply invest in their own wallets and/or voting base. Really easy to buy votes when you control the money supply.
Since it's not their money they have no vested interest in spending it wisely. Sure they may want to get re-elected, but they can just lie through their teeth and manipulate to get what they want. That's how our current system is. How would that possibly change if we gave a Government full control of the money supply?
#174 - freedombirdman (05/18/2014) [-]
More importantly however, banks were an invention of the private sector as storehouses for goods, they later evolved to offer deposit slips that stood for the real goods/wealth actually in the bank, which would later evolve into the first paper money as a means to prevent government theft of property. Banks should be private, government intervention through the federal reserve system is what has corrupted them.
On the issue of 'trickle down' or 'supply side' economics: The theory is centered on the model of the Laffer curve, which basically acknowledges that more taxation does not always equal more revenue. Beyond a certain marginal tax rate:
- Entrepreneurs lose interest in innovation, since high taxes make it not worth the effort
- Not doing work eventually becomes more 'profitable' than doing work
- People spend more money trying to find tax loopholes
- Economic activity is driven into the black market to avoid high taxes
Since all real goods and services come from the producers (supply side) it is essential to lower taxes on businesses and entrepreneurs, which increases the incentive to produce and innovate, thus increasing the amount of real goods and services available for consumption.
<Pic related, the Laffer curve model
#212 - Ken M (05/18/2014) [-]
if noone is lending money then noone can borrow money, and all have to live responsibly within their budget. Good idea for me.
#164 - Ken M (05/18/2014) [-]
IT can't be implemented now because pretty much every country is running at a deficit, and the reason this is the case is that all the money governments spend is actually loaned into existence by their central bank, and tax goes to paying off that loan. Since the money used in the loan never existed before, it's impossible to pay off all of it. So unless all debt was wiped clean and no one spent more than could be recovered in taxes (which rich people wont allow) then nothing will every change. Ever.
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