Money

[Keith007]

Money is means to everything in the world now. Show me one thing that is not running on money like the early days. When we control it, people are happy and now money is controlling the countries and we shall see what the saturation would be.

 

[TraderPRO]

10 Reasons You'll Never Be Rich

http://in.finance.yahoo.com/news/10-reasons-youll-never-rich-050001764.html

 

[rajgreenpeace]

Dont think it deserves to be criticised ! What percenatge is 70 lakhs to the amount Reliance spends on Development and charity ? What you say reeks of 'communism' , an 'ism' that failed miserably all over the world.

I am told that on recent B'day of his wife a few crores were spent in Jodhpur. You can see it in a negative light but the truth is that these few crores were spent and these expenses must have made a large number of People earn decent amount for the services rendered by them. That big amount came into circulation. If such circulation of money stops , if people stop spending , only charity is done.....we will have Nifty in 3 figures !

Karanani G if your monthly domestic electricity bill is more than 10k..............you are environment criminal........his bill was 70 lacs.........I am ex official..... of Greenpeace...........I know all criminal of india!!!!

 

[augubhai]

The funny Federal Reserve System

Read the full article here... http://theeconomiccollapseblog.com/...y-impossible-to-pay-off-the-u-s-national-debt

So why doesn't the U.S. government just fire up the printing presses and print a bunch of money to pay off the debt?

Well, for one very simple reason.

That is not the way our system works.

You see, for more dollars to enter the system, the U.S. government has to go into more debt.

The U.S. government does not issue U.S. currency - the Federal Reserve does.

The Federal Reserve is a private bank owned and operated for profit by a very powerful group of elite international bankers.

If you will pull a dollar bill out and take a look at it, you will notice that it says "Federal Reserve Note" at the top.

It belongs to the Federal Reserve.

The U.S. government cannot simply go out and create new money whenever it wants under our current system.

According to the New York Federal Reserve Bank, fractional reserve banking can be explained this way....

"If the reserve requirement is 10%, for example, a bank that receives a $100 deposit may lend out $90 of that deposit. If the borrower then writes a check to someone who deposits the $90, the bank receiving that deposit can lend out $81. As the process continues, the banking system can expand the initial deposit of $100 into a maximum of $1,000 of money ($100+$90+81+$72.90+...=$1,000)."

So much of the "money" out there today is basically made up out of thin air.

So the bottom line is this....

#1) If all money owned by all American banks, businesses and individuals was gathered up today and sent to the U.S. government, there would not be enough to pay off the U.S. national debt.

#2) The only way to create more money is to go into even more debt which makes the problem even worse.

You see, this is what the whole Federal Reserve System was designed to do. It was designed to slowly drain the massive wealth of the American people and transfer it to the elite international bankers.

It is a game that is designed so that the U.S. government cannot win. As soon as they create more money by borrowing it, the U.S. government owes more than what was created because of interest.

If you owe more money than ever was created you can never pay it back.

That means perpetual debt for as long as the system exists.

It is a system designed to force the U.S. government into ever-increasing amounts of debt because there is no escape.

 

[augubhai]

Some interesting perspectives in this article:
Link: Bitcoin is a step back not forward

I always thought money was a replacement for barter, but this article set me thinking. Would a primitive society need money? In a hunter gatherer society, or even a serfdom, it would probably be more about social relations and hierarchy than anything else. And other social animals live without barter, right?

Economists have long declared that currencies are essentially a tool to increase the efficiency of barter, which they consider the foundation of all organised economic activity. On this view, money is a convenient instrument used by individuals to get things done. It is not inherently part of the apparatus of government.
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But the right-money historical narrative is simply wrong, as anthropologist David Graeber explains in his book Debt, The First 5,000 Years. Straightforward barter played a tiny role in all pre-modern economies. Instead, what we nowadays think of as purely economic activity was inseparable from an intricate structure of social relationships and spiritual beliefs. Purely commercial activity was rare – and it almost always relied on some form of government-issued money. Barter was not the precursor to money: it has always been the inferior alternative.

And about Bitcoins and similar private currencies... How do we trust something like this. No government approvals. No guarantees. Like everything else, its value is whatever is perceived by others. What happens when others stop valuing it? The value just disappears - just like any other bubble.

Bitcoin exemplifies some of the problems of private money. Its value is uncertain, its legal status is unclear and it could easily become valueless if users lose faith. Besides, if bitcoin ever really started to take off, governments would either ban it or take over the system. The authorities might be motivated by a genuine concern about the stability of a shadow monetary system or they might act out of self-preservation. Tax evasion would be too easy in a right-money parallel economy.

 

[augubhai]

Bitcoin bubble
Link: Bitcoin vs. South Seas Stock

 

[augubhai]

So many bitcoin stories... Here's another.

He threw bitcoins worth 4.2 million pounds at current rates, into the garbage.
Link: Bitcoin Blunder Man Throws Away '£4m Laptop'

 

[augubhai]

 

[onlinegtrash]

My take on money.

Money is an infrastructure to
* enable exchanging of values produced.
* store the value in compact form.

Being a libertarian all taxes are theft from individual producers
The concept of black money white money all are absurd.

Any value produced by an individual in a fair voluntary market is *owned* by the guy, whether its 100INR or trillion INR.
Cheating and Fraud are NOT value creation, its simply looting someones productive results.

but 'what about pooooor' in dog eat dog world, don't they need tax money?
Solution for poverty is entrepreneurship and productivity not looting and enslaving other men.