Soldato
- Joined
- 24 Sep 2007
- Posts
- 5,038
Forget Bitcoin for this discussion. Whether it's gold or Bitcoin is irrelevant. The point is money should be attached to something with real world value, and not just bits of paper printed at the whim of a central bank (aka a privileged minority of the population).
If you think about it, central bankers do nothing for the real economy, they just extract money from it. When referring to the economy, central bankers should call it "our wealth extraction scheme", because that's all they do. If you listen to any of the interest rate change announcements by either Powell or Andrew Bailey, they are just long winded nonsense droning on about this that and the other, when really all they are ever doing is printing money to keep their wealth extraction scheme afloat, it has nothing to do with the running of the real economy.
What is happening now is private BTL landlords are getting pushed out, all they ever were was glorified caretakers for the banks, and now banks themselves will become the landlords. Banks stay in business over time because they can just print money for themselves. Further "too big to fail", and further inequality.
I do hope the general population can gain a better understanding of this, as then we might not have to listen to the drivel from most economists and central bankers anymore. The true reasons for it are very simple but not well understood, as it's made to seem complex on purpose.
If you think about it, central bankers do nothing for the real economy, they just extract money from it. When referring to the economy, central bankers should call it "our wealth extraction scheme", because that's all they do. If you listen to any of the interest rate change announcements by either Powell or Andrew Bailey, they are just long winded nonsense droning on about this that and the other, when really all they are ever doing is printing money to keep their wealth extraction scheme afloat, it has nothing to do with the running of the real economy.
What is happening now is private BTL landlords are getting pushed out, all they ever were was glorified caretakers for the banks, and now banks themselves will become the landlords. Banks stay in business over time because they can just print money for themselves. Further "too big to fail", and further inequality.
I do hope the general population can gain a better understanding of this, as then we might not have to listen to the drivel from most economists and central bankers anymore. The true reasons for it are very simple but not well understood, as it's made to seem complex on purpose.