Fake Money Built America
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Fake Money Built America
1–10 of 22 posts
Re: Fake Money Built America
#2What a ridiculous title lol.
Re: Fake Money Built America
#3The premise is interesting, though a bit of an exaggeration. A very enjoyable read though.
Re: Fake Money Built America
#4fake stops being an applicable term as soon as people start agreeing to accept it, which the article says happened. Then it's as legitimate as anything like Bitcoin.
Re: Fake Money Built America
#5This reminds me of a very fun episode of the Uncivil podcast, which talks about a northern guy who started counterfeiting Confederate money during the Civil War: https://podcasts.apple.com/us/podcast/the-paper/id1275078406...
Re: Fake Money Built America
#6> “It would not be an exaggeration to call these criminals capitalists,” he concludes, “even if their idea of making money was more literal-minded than the bankers whose notes they imitated.”
Counterfeiting is fraud, not capitalism. Even a so-called “lender of last resort” cannot exist under capitalism, but only under a system of dirigisme or worse.
Re: Fake Money Built America
#7fake stops being an applicable term as soon as people start agreeing to accept it, which the article says happened. Then it's as legitimate as anything like Bitcoin.
What would happen if all the people who agreed to accept it would also want to withdraw it from their accounts at the same time?
Re: Fake Money Built America
#8Still to this day, fake money continues to build America and afford the American lifestyle.
USD is backed by petrodollar, which is backed by US Navy and depends on US Armed Forces bombing anyone who refuses to use USD as a reserve and trade ccy.
USA is $39,000,000,000,000+ in debt as-is, if you add SS and Medicare shortfall, federal pensions and guarantees, the total figure baloons to $125,000,000,000,000+
debt: https://www.us-debt-clock.com/
unfunded liabilities: https://www.us-debt-clock.com/unfunded-liabilities
To people who downvote this: can you guys clarify what is the difference between a counterfeiter and US?
At least counterfeiter does not force you to accept his fake bills, while holding you at gunpoint and pointing a missile at your family
Re: Fake Money Built America
#9fake stops being an applicable term as soon as people start agreeing to accept it, which the article says happened. Then it's as legitimate as anything like Bitcoin.
What would happen if all the people who agreed to accept it would also want to withdraw it from their accounts at the same time?
withdraw for what?
for fiat(=fake) paper bills, or for similarly fake digits on a mobile app?
Re: Fake Money Built America
#10There is no sense in which counterfeiting bank notes was a creative force in the economy and not just theft. The article doesn't really attempt to justify the title.