Cryptocurrency: On the need for banks

grarpamp grarpamp at
Sun May 10 20:17:10 PDT 2020

> A few (2 billion?) dollars were actually created by JFK's government, but not since.

That would be...

There are no relevant countries that remain free from
Govt Central Banks...

There are no countries fiat at all that are backed by Gold
or any other resource, it's all 100% fiction, the convertibility ratio,
at their issuance window, back into anything, is precisely zero...

"From this point, the international monetary system was made of pure
fiat money."

Any "reserves" are no longer used to back their fiats literally,
it's now more a trading, settlement, forex, and wargames thing...

Some like DPRK and others in the news are even getting
into holding and trading cryptocurrency now.

> ratio of capital to loans is the "reserve ratio", which was around
> 15% but years ago got reduced to 3% and from memory even lower

There are a number of points in systems various reserve ratios are applied.
US Fed indeed just cut, and set some other to 0%, when COVID hit, see
their site.

> actual dollars in existence (M1 vs M0 etc)

Physical money, coin, vault cash, etc often limited,
including by War On Cash now.
M2/capita is more related to gold price, M2 is exploding
through various means.

> interest is not created at the time the loan ... unbalanced

Instead of simply walking away upon recognizing unbalance,
conditioning and systematic control blackmarking structures
can trip people and entire nations into doing theft and war to
steal resources to pay it back and balance the books.

Curiously, some religions forbid interest, but in practice
even some strict among them still can be seen
hypocritically using interest and derivatives in some
form or another, laughably certifying them as legit.

Even paper gold and gold leasing have become
a thing for decades now.

Also left out was the underlying structure known as
Govt [Treasury] Bonds, the utter bullshit premise that a
Government can issue them to backstop even their own
central banks, that a Govt can enslave tax you and attach whatever
little you still freely own, without your explicit consent, into
backing the debts of the Govt, Central, and Commercial banks,
and their lendees. The idea being that, when all defaults roll up,
that you get stuck with pay off their bond, else international and other
claimants invade. Too big to fail? QE2inf? Inflate out? Nope, pay us.

That's like ridiculous notion you are and bound yourself to
some fantasy Constitutions or "social contracts" without
explicitly signing, by unluck of being born into such shitholes,
letting such unfiduciary unrepresentatives continue to elect
themselves and rule over you with their democracies.

Feel like shit and a dumbass yet?

Upside... cryptocurrencies and even gold, guns and goats
are coming into more favor worldwide now.
People don't want to be left holding the short end of fiat.
Collapse or not, these harder forms are still infinitely useful
to your cause.

When literally every place on the planet is now overrun by
Government and Central Banks, every flavor in history,
now joining into one, holding their lightswitch and risks over you...
one answer is not to keep trying to fix them,
but to route around and get rid of them,
to go entirely different ways that don't involve them.

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