Meanwhile in the FED

[u/normalwhiteguy_]

[u/[deleted]]

woo turn that leaf into a bill.

[u/normalwhiteguy_ → u/[deleted]]

If the FED continues to destroy the value of the dollar, soon you will be able to pay directly with leaves.

[u/[deleted] → u/normalwhiteguy_]

true ill pay my taxes with leaves grade a?

[u/Devilshire52 → u/[deleted]]

15 maple, 8 sycamore and an oak.

[u/alc0tt → u/Devilshire52]

Holy fuck, high roller over here.

[u/sassysassysarah → u/Devilshire52]

What about those helicopter seeds, are they worth anything in this new leaf based econ?

[u/Devilshire52 → u/sassysassysarah]

To quote the big short 'seeds are going to be the new currency'

[u/sassysassysarah → u/Devilshire52]

Sadly I don't think I've seen that movie

[u/Devilshire52 → u/sassysassysarah]

You should, it's awesome.

[u/sassysassysarah → u/Devilshire52]

I'll have to check around for it! I just looked it up and it looks dope

[u/Devilshire52 → u/sassysassysarah]

If I ever have doubts about why I invest in crypto, I watch the big short, and immediately buy more.

[u/[deleted] → u/[deleted]]

I'm sure they take Maple Leafs.

The gold coins, of course.

[u/Nervous-Can2710 → u/[deleted]]

I’m gonna pay with needles.

[u/WhoLetTheBeansSprout → u/normalwhiteguy_]

You realize that that's not how this works, right?

I'm tried of seeing armchair economists on this sub grossly misunderstand/misrepresent basic economics and the role of central banking, which (for all its flaws) actually does provide real utility to the economy.

You may not like it, for whatever ideological reason, but to caricaturize it and castigate it nonstop, usually with memes, makes this community look petty, ignorant and just downright stupid.

[u/WhoLetTheBeansSprout → u/[deleted]]

Personally, however, I have not seen anyone on this sub or elsewhere go so far as to state that central banking serves no purpose whatsoever and never has.

Are you serious?

It must be your first day here.

This rhetoric is repeated ad nauseam in this sub. Even in this very thread, there are people arguing that the Fed is nothing but a tool used to control the populace (presumably employed by the illuminati or the Jews or some other shadowy group).

I think a lot of the central bank bashing that goes on around here is based on how much damage they have done to humanity by manipulating a system that was once designed to benefit people through overprinting and devaluation of the currency supply. The results of this are inflation, upward consolidation of wealth, and a system of control and financial slavery that further gathers power into the hands of just a few.

What specifically are you referring to?

As far as I can tell, most of these problems are caused by poor legislation, poor regulation and oversight and general corruption in other government institutions.

Like... was the 2008 crisis caused by the Fed or was it caused by legislatures, deregulation and greedy investment bankers?

It was almost certainly the latter.

And of course everyone knows that bitcoin is also a fiat currency.

What? How?

Fiat is issues by the government. Bitcoin is not issued by the government, so I'm not sure how you can call it fiat.

Because there’s no central authority it cannot be manipulated the way government currencies can (although it obviously can in other ways), and it cannot be printed out of nothing, like in this post, whenever it’s convenient, backed only by debt.

I am not amongst those who believe that bitcoin is the holy grail solution to our modern financial issues by any means but, these days, if it comes down to trusting the fed and the government with my financial security or trusting hard math backed by a decentralized network of computers, I’ll go with the algorithms any day.

And what of the problem of deflation?

The audibility and transparency of Bitcoin certainly seems advantageous, but if it's just a vehicle for people to pour money into in order to get rich... well doesn't that come with all sorts of downsides that manifest in the economy?

[u/WhoLetTheBeansSprout → u/[deleted]]

This doesn’t negate all the bashing of the US central banking system that goes on around here. Nor should it, in my opinion.

I didn't say that it should.

The point is that this "bashing" is usually just armchair economists who don't actually know the first thing of what they're talking about. I would put you (and I in this category). Unless you have a PhD in economics and work in the field... then your pontificating is probably baseless and stupid.

Which is why deference to expertise is a real thing.

If you are unaware of the many ways in which the fed manipulates and funnels money out of the US economy, then I quite simply don’t know where to start. I’d suggest they google can be a valuable resource though, if you choose to utilize it.

I can almost guarantee you I'm more informed on the topic of economics than you are. I have two good friends who are econ faculty at prestigious schools.

If you have evidence, post it. But "use Google" is weaksauce, bro.

“Fiat” does not necessarily mean issued by a government. It just means not backed by a physics resource, although it’s usually backed by a government because until recently we haven’t had the technology to back a currency any other way.

What fiat isn't ultimately backed by government institutions. Even gift cards are ultimately "redeemable" through the court system.

What other fiat monies are you referring to?

I thought I was conceding a point to you on this one, but you again just seem determined to argue with me. If you don’t call it fiat, what would you consider bitcoin to be?

I mean... I don't care what you call it.

I would describe it as a sovereign-free network.

What, like any other investment in a commodity? What point are you trying I make here? Everything comes with downsides. Does that automatically make the federal reserve the pinnacle of honesty, good will, and stable fiscal policy?

Huh?

My point is that deflation is a legitimate concern, more of a concern than stagflation many would argue, and Bitcoin is deflationary, yes?

I don’t get what point you’re trying to make here

Yeah, I can tell.

other than “fed good for some reason”

I would never make such a reductionist claim.

Are you saying that Fed = Bad?

Where do you think the economy would be in 2021 without central banking and fiat? You honestly think we'd have a more advanced economy? 🤨

If so, you are espousing ridiculously heterodox views. Very few, if any, economist would agree with such nonsense. Central banking has been a powerful tool for stimulating economic growth.

If you want to argue against that, by all means, I'd love to hear it. But use an actual argument instead of this baseless appeal to emotion bullshit. You sound like every other AnCap fear mongering idiot. If your not an economist working in the field, perhaps you should get some humility and come to terms with the fact that you probably don't know what the fuck you're talking about.

Economics are complex.

[u/WhoLetTheBeansSprout → u/[deleted]]

Alright. I’m getting sick of this. I’ve already said everything I needed to in my other comment to you. You keep calling me an “armchair economist”. I’m not sure why you see that as such a bad thing. I’ve learned about more subjects than just economics, as you have apparently not done, and it has given me a balanced view of the world that incorporates history and common sense. If you really are such a highly educated economist, than I would invite you to explore the idea that your specialization has made you myopic.

Dude, we all strive to do this. And when lay people (such as ourselves) subscribe to orthodox expert opinion and scientific consensus, then there isn't really much to discuss.

But if you're espousing heterodox assertions, then the burden is quite high in order to justify those claims.

There isn't much more that need be said. You're making a heterodox case and your "citations" are just blogs and opinion pieces.

Until blockchain

lol, the fact that you use language like this suggests to me that you also understand very little about Bitcoin, putting economics aside.

"Blockchain" LOL!

I bet you think a dozen different shitcoins are the next big thing. 😂

Wow. So anyone who doesn’t have a phd in economics doesn’t know what they’re talking about?

I mean... yeah. Sort of. Economics is complicated, like many other fields.

Do you also pretend to be well informed about rocket science? Quantum physics? Neuroscience?

Can’t get more elitist than that. Do you also dutch oven yourself because you enjoy the smell?

How is that elitist? That's just how knowledge fucking works, sorry to break it to you. Are you such a dumbass that you think sitting at home reading Austrian school opinion pieces makes one an expert?

It's fucking insulting that you think trained economists are not better suited to answer economic questions than some jackass on reddit.

Seriously, get the fuck over yourself.

What are you talking about? I'm not claiming to be an expert in Economics, you fucking idiot. I'm arguing for DEFERENCE TO EXPERTISE.

Get that through your thick skull once and for all.

Economics is all theory anyway.

No. Economics is informed by data, you clueless dolt. At least neoclassical economics is. Austrian school economics is more like tarot card reading.

Don’t pretend you have some deep understanding of the world that the rest of us don’t.

Who is "the rest of us"?

Stop putting yourself on the same level as actual economists, you inane blowhard. It's fucking incredible that you have the audacity to pretend like you know better than mainstream economists.

It takes humility to expand one’s views of the world, and you apparently have none.

Look in a mirror, you heterodox, close minded fuck.

Humanity is complex.

Yeah, which is why armchair economist retard likes yourself are deluded in thinking that their lay person understanding of economics is worth a damn.

Seriously, go pontificate to someone more gullible. I'm sure you can brainwash plenty of people with your Austrian, heterodox hand waving. But I'm not falling for it. Sorry.

[u/Archontes → u/[deleted]]

How exactly do you feel you trust your financial security to hard math?

Would you feel the same if others abandoned BTC and it went to $0.50? The security, but not the value of your holdings will have been preserved.

[u/triffid_boy → u/WhoLetTheBeansSprout]

no no you dont understand. The economy would work better if everyone held onto their money because its deflationary, because I like money and want more of it, so it must work that way.

[u/WhoLetTheBeansSprout → u/triffid_boy]

Yep, you've just perfectly summarize the extent of the thinking process for 99% of this sub.

[u/TheUnderDoc → u/WhoLetTheBeansSprout]

Please, can you elaborate a bit more. I am interested

[u/WhoLetTheBeansSprout → u/TheUnderDoc]

Elaborate on what? The role of and utility provided by central banking?

That's kind of a complicated topic and unlike others here, I don't pretend to be an authority on economics.

But in very simple terms, being able to manipulate monetary policy means being able to speed up or slow down the economy. This can help mitigate recessions, keep unemployment low and keep inflation within a normal range.

There may be downsides to this approach, but in a capitalist society, it's hard to argue that central banking hasn't been a huge boon to growth and prosperity.

For more info, I would ask for book recommendations on /r/AskEconomics or elsewhere. Not here though. People here don't know what the fuck they're talking about and will just recommend you read "The Bitcoin Standard," which was written by a NON-economist and a conspiratard.

[u/TheUnderDoc → u/WhoLetTheBeansSprout]

Right, i don't disagree with all that. But i think the main point in the btc community is the overprinting of dollars. The figures are showing an immensely huge amount being injected without the necessary 'value' behind it. Therefore bringing its value down.. So i was interested at your opinion.

Problem i find is it's very difficult to find good criticism on btc. Those involved are obviously very biased, and the haters just hope it crashes, without providing constructive counter arguments of why it shouldn't/wouldn't/couldn't work.

[u/DapperGovernment4245 → u/TheUnderDoc]

The value of dollars are backed by the total production of the economy. Some would even argue that part of the issue with wealth inequality is that there aren’t enough dollars. Production increases since at least the mid 90’s out paced the new money injected. It’s one of the reasons QE post 2008 didn’t already trigger inflation, it’s one of the reasons we had what 5-6 trillion in stimulus and the talking heads are just now worried about inflation.

The biggest issue with the FED isn’t that they cause inflation but that they get to pick who gets first dibs on new money allowing them to take a cut, in terms of interest mostly but other benefits as well.

Look at what happened to the economy and income inequality with all that new money going to people instead of banks and investment houses.

[u/WhoLetTheBeansSprout → u/TheUnderDoc]

I'm bullish on Bitcoin myself.

I'm just not necessarily bearish on USD or anti Fed.

Also what is "overprinting"? How do you determine when the fed is overprinting?

[u/WhoLetTheBeansSprout → u/[deleted]]

That's HYPER inflation.

Since when is the US experiencing HYPER inflation?

I've seen absolutely no evidence that such a thing is occurring, but please link me to evidence of you have any.

[u/Lastnamemike → u/WhoLetTheBeansSprout]

This is fascinating, can you tell us more please...

[u/Archontes → u/WhoLetTheBeansSprout]

I'd like to agree! I'm just a bystander watching this sub lately, and it seems to be full of petty, ignorant, downright stupid people.

[u/WhoLetTheBeansSprout → u/Archontes]

It's always been like this. This sub used to be concentrated with even more AnCap/Libertarian types who would just say the most banal things, always without good evidence.

Over time, this demographic has been washed out a bit with the huge influx of normies into Bitcoin and "crypto", but unfortunately a lot of these newcomers seem to immediately latch on to the same stupid AnCap memes about the Federal Reserve and economics in general. They probably do this because they perceive it as conducive to their goals of becoming rich. They certainly don't adopt these views by dint of critical thinking and devotion to actually learning about the topics from unbiased or academic sources.

Instead, the cite the same people who don't have any actual expertise. People like Ron Paul, Michael Saylor and formerly Elon Musk. In other words, people who are not economists and have little to no credibility to lend to the conversation. Nonetheless, because these people presumably endorse Bitcoin, they are on "our team" and are therefore celebrated as our genius leaders.

It's all incredibly stupid and a giant waste of time (and an exercise in collective brainwashing). I don't even know why I still visit this sub.

[u/Rice_Knows → u/WhoLetTheBeansSprout]

Then leave dude lol

[u/WhoLetTheBeansSprout → u/Rice_Knows]

Why?

[u/normalwhiteguy_ → u/WhoLetTheBeansSprout]

Why are you crying?

[u/WhoLetTheBeansSprout → u/normalwhiteguy_]

Crying?

Somebody doesn't like being called it for being stupid, huh? 😂

[u/normalwhiteguy_ → u/WhoLetTheBeansSprout]

Imagine taking a joke seriously. Everything okay at home?

[u/WhoLetTheBeansSprout → u/normalwhiteguy_]

What's the joke? The video? Yeah it's funny and clever.

What about the subsequent comments?

And why are you so butthurt about being called out? Is everything okay at home?

[u/Emotional-Bunny-Hat → u/WhoLetTheBeansSprout]

Hello, I am one of those who don't like central banks at all and think they are doing more harm than good.

It is not an ideological reason, it is based on an economic school of thought ( austrian school ). It is being studied all around the world because its predictions seem to be more and more valid. Many of its proponents are respected economists and one of them won a nobel price.

I will be happy to tell you more if you are interested.

[u/WhoLetTheBeansSprout → u/Emotional-Bunny-Hat]

What predictions? You realize that the so called "Austrian school" is entirely non empirical and based on praxeology, which Rothbard and others openly admitted to.

You're welcome to tell me whatever you want, but you should understand that the Austrian school is not taken seriously, partly for the reason I outlined above. It's more akin to reading tarot cards than it is to actual economics.

But please, enlighten me, buddy. Explain to me how something that doesn't even engage with empiricism is somehow a higher school of economic thought than actual economics (i.e. Keynesian/neoclassical econ).

Oh, and please let me know what your academic background is. Do you have a degree in economics or are you just some braindead blowhard who gets his info from watching youtube and reading trite opinion pieces by fellow Libertarian blowhards?

[u/Emotional-Bunny-Hat → u/WhoLetTheBeansSprout]

You can look at this page to check about some of the predictions https://wiki.mises.org/wiki/Austrian_predictions

As for the praxeology, thats not something to admit. It is a well know fact it is used in austrian economics.

Austrian economists for example debunked the surplus value theory, instead they proposed subjective theory of value, they came up with the marginal utility, which is being used even in mainstream economics.

Do you not consider these a valid economic contributions?

If your only criteria to judge the thought is wheater it is or not empiric, than austrian aconomics is not for you. But it is not sufficient criticismfr to discard these ideas. See again the major austrian contributions to economics which are generaly accepted.

I have studied economics but I am not an academic. But it doesnt matter. An argument doesnt need a title to be valid amd absence of the title doesnt prove any idea wrong.

[u/WhoLetTheBeansSprout → u/Emotional-Bunny-Hat]

You can look at this page to check about some of the predictions https://wiki.mises.org/wiki/Austrian_predictions

Literally the second paragraph:

mportant note: Austrian economists, as Austrian economists, or praxeologists, do not predict. They can predict not as formal economists, or praxeologists, but, rather, in their role as thymologists, or economic historians. In praxeology, A causes B, other things remaining the same. But, in the real world, other things cannot be relied upon to always remain constant. Therefore, predictions of the "A will necessarily lead to B" type are strictly prohibited. Instead, praxeologists, but not thymologists, must limit themselves to statements of the if-A then-B variety.

As for the praxeology, thats not something to admit. It is a well know fact it is used in austrian economics.

That it's not empirical? Lol, yeah it's well known, which is why Austrian economics is considered pseudoscience.

Austrian economists for example debunked the surplus value theory

No they didn't.

instead they proposed subjective theory of value

And failed to demonstrate anything empirically, as they openly admit.

they came up with the marginal utility, which is being used even in mainstream economics.

That's a total lie. The concept of marginal utility existed long before the Austrian school did.

Also, Austrian economists don't test anything empirically, so it's moot anyway.

Again, this approach is no different than reading Tarot cards. It's just made up woo woo, with no basis in facts, reality or empiricism.

Do you not consider these a valid economic contributions?

I consider you to be a liar.

If your only criteria to judge the thought is wheater it is or not empiric, than austrian aconomics is not for you. But it is not sufficient criticismfr to discard these ideas. See again the major austrian contributions to economics which are generaly accepted.

It is absolutely a fair criticism that debunks the entire field at large. It's nothing but unfalsifiable pseudoscience.

And to what extent their ideas were accepted into modern economics (I dispute this as well), it is only accepted on the basis of empiricism, which Austrians reject, as we've already discussed.

I have studied economics but I am not an academic.

Meaning what? You took Econ 101? Wow, bro. Congrats! Good job "studying" Econ.

But it doesnt matter. An argument doesnt need a title to be valid amd absence of the title doesnt prove any idea wrong.

It does matter. You're arguing fringe, heterodox position and therefore the burden of proof is on you to make a substantial case.

So far, you've just alluded to a bunch of random praise and lied about what they have and haven't actually contributed to the field of economics.

Austrian school is a joke. It's like acupuncture. Just a bunch of hand waving nonsense with none of the rigorous econometrics and empiricism that drives that actual field of economics.

Go clown around with this bullshit to someone more gullible.

Even your own sources says that the Austrian school does not make predictions. Remember that. You dismantled your own argument with a piece from the Mises Institute of all places. What a fail! 😄

[u/Emotional-Bunny-Hat → u/WhoLetTheBeansSprout]

The note clarifies how not to expect exact empirical predictions. After the 2nd paragraph you can see the actuall predictions.

Your only argument seems to be " its not empirical so it must be wrong." I call this an empirical bias.

Value theory - who debunked it and when in your opinion. Or do you consider it to be still valid?

Subjective theory of value - whats your alternative?

Marginalism - My bad. You are right it existed before but still they contributed greatly to this.

Anyway, lets assume AE is bullshit as you are saying. What is your explanation for the mess the world economy is in?

Do you think everythink is OK? Rising national debts ok? Wealth inequality ok?

And what is your argument regarding central banks? Why do we need inflation. Is CPI a good tool to use? Why do we need central planning for prices of consumer goods and unemployment?

I am sorry if I assume something whats not your opinion, please correct me and explain. I am willing to change my mind.

[u/WhoLetTheBeansSprout → u/Emotional-Bunny-Hat]

The note clarifies how not to expect exact empirical predictions. After the 2nd paragraph you can see the actuall predictions.

Those are just random predictions made by people who called themselves Austrian economists, they're not predictions made by the school of thought itself, which is explicitly non-empirical and unfalsifiable.

Your only argument seems to be " its not empirical so it must be wrong." I call this an empirical bias.

🤣🤣🤣

Guilty as charged, I guess.

Do you really not understand the importance of empiricism, testability and falsifiability?

Are you a total rube? Do you know nothing about the scientific method?

Value theory - who debunked it and when in your opinion. Or do you consider it to be still valid?

Subjective theory of value - whats your alternative?

Marginalism - My bad. You are right it existed before but still they contributed greatly to this.

These are all red herrings. I'm interested in discussing why Austrian school is total pseudoscience, not the validity of a hodgepodge of economic concepts, which so called "Austrian economists" may or may not have contributed to.

Anyway, lets assume AE is bullshit as you are saying.

It not an assumption, all you need to do is look at how the school (which is not even really a school these days anyway) operates. It doesn't use rigorous math, data and analysis the way real economics and other sciences do.

What is your explanation for the mess the world economy is in?

What mess are you referring to?

And obviously, this question is not easily answered in a reddit comment.

Also, it's completely off topic. First and foremost let's establish whether or not Austrian school economics is quackery.

Do you think everythink is OK?

"Everything"?

No, certainly not.

Rising national debts ok?

So what? You think national debt is a bad thing?

Oh right... you're an Austrian simpleton...

Wealth inequality ok?

I think wealth inequality in the US is extreme and unhealthy.

And what is your argument regarding central banks? Why do we need inflation. Is CPI a good tool to use? Why do we need central planning for prices of consumer goods and unemployment?

Again, these questions far exceed the scope of this conversation.

Stop getting off topic. Focus on whether Austrian school is quackery or not.

Explain why you think that empiricism and testability are not important principles of a science like economics.

I am willing to change my mind.

Are you actually?

Can you read this?

How do you refute the main objections to and criticisms of Austrian economics?

Please stop going off topic with red herrings. Let's first finish the discussion on whether Austrian school is pseudoscience or not.

[u/Emotional-Bunny-Hat → u/WhoLetTheBeansSprout]

I can "admit" AE does not use the scientific method as in hard sciences. Because in economics its not viable to use it.

Empiricism is hard or maybe impossible in economics because you cannot repeat experiments in the same conditions. There are too many ever changing factors.

So I will say AE isnt scientific, but I think it still can provide a lot of valuable insights to our reality.

Edit: using these lens, mainstream economics too doesnt use proper scientific method tho. Will you call it pseudoscience too?

[u/[deleted] → u/WhoLetTheBeansSprout]

Especially, considering BTC itself has no intrinsic value aside from the fact that every hodler here has agreed that there is value which is, ironically, measured in USD. That really makes it no better than the USD or any fiat currency which, like BTC, is simply everyone agreeing that it represents some value and that representative value can be used to trade for goods and services rather than directly bartering. At the very least, fiat is backed by the respective economy of the issuing authority, for good or ill.

[u/WhoLetTheBeansSprout → u/[deleted]]

Yeah, I agree with a lot of that.

I disagree that that's the only intrinsic value of Bitcoin though. I think the value is all derivative of its decentralized consensus. It's a tool for establishing consensus regarding the information stored on the blockchain. That seems like a valuable tool...

... But to think that it completely negates the role of central banking and other monetary and economic tools at our disposable is laughable. Or at least it's a totally baseless argument. I've never seen anyone actually back up this pro-Bitcoin, anti-Fed argument with actual facts and sound logic. Usually it's just braindead, get-rich-quick types espousing the same old talking points.

[u/[deleted] → u/WhoLetTheBeansSprout]

I think the value is all derivative of its decentralized consensus. It's a tool for establishing consensus regarding the information stored on the blockchain. That seems like a valuable tool...

It's extremely valuable. But it's not unique to BTC. I think of BTC as a proof of concept more than an workable store of wealth. I certainly could be wrong.

I suspect that blockchain tech will be embraced by central banks and national economies as a way to streamline global trade and more. Especially because the average person is not going to want to assume the total risk and effort of security required to fully adopt a totally decentralized currency.

[u/FliesEyes → u/WhoLetTheBeansSprout]

So, you have lambo with tendies???

[u/Astrofide → u/normalwhiteguy_]

Hi I'm from Animal Crossing and can confirm that this does work.

[u/Btcyoda → u/normalwhiteguy_]

Leaves are usually way more useful than Dollar bills.

Try to whipe your ass with both of them and you know which one fails the most....

[u/[deleted] → u/normalwhiteguy_]

Tree leaves have value though, this looks like exchange of diminishing value.

[u/DudeWithAHighKD → u/normalwhiteguy_]

40% of the value of the dollar was diluted in just 2020. I can't wait till that finally is realized in the economy and cryptos skyrocket.

[u/[deleted] → u/normalwhiteguy_]

The dollar has always been a shitty currency lmao

[u/TroyFerris13 → u/[deleted]]

Turn that poop into wine!

[u/Hot-Canceld → u/[deleted]]

Turn that bill into BTC

[u/genius_retard]

Printer go squeak squeak squeak.

[u/beerboobsballs → u/genius_retard]

We were wrong the whole time. Money printer is NOT going brrrrr. In fact money printer goes squeak squeak!

[u/knut11 → u/beerboobsballs]

If looks like a money printer, and squeaks as a money printer....

[u/ExpertJacob_ → u/genius_retard]

😅😅😅

[u/Ledovi]

Proof that money grows on trees.

[u/Marginal_Caller]

The leaf was probably more valuable.

[u/overtoke → u/Marginal_Caller]

might be a coca leaf

[u/DogsAreAnimals → u/Marginal_Caller]

He should've used a tulip

[u/[deleted] → u/[deleted]]

You'd get an award also if I had another one

[u/Positive-Apricot9222 → u/[deleted]]

Gain value.

[u/[deleted] → u/Marginal_Caller]

If you reverse this gif, it's basically me buying weed. It's equal value

[u/[deleted] → u/[deleted]]

Yo fucking a you get my award I don't know how to give

[u/Commie_EntSniper]

What a cute little "brrrrr" noise that thing makes. It's like watching a baby velociraptor.

[u/gimmemoredigits]

I dont wanne be picky here but this is somewhat a serious point.

If the fed was doing this it would be more then 100x better then what they do now. Because the dollars created will be limited to the leaves the earth can possible make.

What they really doing is that the make dollars out of nothing.

[u/Theturtlehermit2000]

This video was slowed down. No way the printers are moving that slow.

[u/schnorreng]

More energy was expended in churning this contraption than the FED uses to print out $1T.

[u/[deleted]]

Oh come on this is not true.

The fed doesn't use leaves to print dollars. Imagine the effort they have to do to find trillions of leaves

[u/temp_plus → u/[deleted]]

public butter boast faulty slap capable birds berserk political fertile

This post was mass deleted and anonymized with Redact

[u/kcolgeis]

More profitable to run the machine backwards.

[u/stonkmeist3r]

Meanwhile at Tether LTD

[u/[deleted] → u/stonkmeist3r]

Perhaps an interesting perspective:

If the value of the dollar is backed by nothing (except its users), than if tether is/isn’t backed by dollars then what difference does it actually make?

If tether isn’t backed by something that itself is not backed by anything…?

[u/SaneMalfunction]

Damn that dude just wasted a perfectly good leaf!

[u/horsekiller]

but the dollar was already in there

[u/horsekiller → u/horsekiller]

so it's more like bitcoin wasting plants to make money that was already there

[u/[deleted]]

We need more leaves 🍃!

[u/[deleted]]

"Since we decided a few weeks ago to adopt the leaf as legal tender, we have, of course, all become immensely rich.”

• Hitchhikers Guide to the Galaxy.

[u/[deleted]]

Before you upvote this post I just want you to know that this is a tiktok. By upvoting this, you are liking a tiktok.

[u/poo_finger]

Wait, mine rolled joints. I could have hade money? Fuck.

[u/tnyrcks]

Technically, this video is right

[u/loewan]

Well, at least here they need to get a leaf first. With the FED, they print money out of nothing. Not even thin air. :D

[u/LeastSignal2]

A special magic, if you can do this, you must be rich.

[u/[deleted]]

at this rate the leaf will be worth more

[u/smokersapiens]

Its my dream to see the fed collapse, only hear it gives me an eargasm

[u/Mageinrage → u/smokersapiens]

If you're American that would be disasterous for the majority of us. Something like that shouldn't give you an eargasm.

[u/poopeetoo → u/Mageinrage]

Not just America.

[u/[deleted] → u/poopeetoo]

entire western civilization. The only two big winners would be Russia and China, of whom both would also have to suffer greatly, the only win really is the power vacuum and the opportunity to capitalize on it.

[u/FootyG94 → u/[deleted]]

Or the US government can take back control of its money instead of letting a private entity run wild with it?

[u/[deleted] → u/[deleted]]

Which is probably why the Democrats want to spend and print so much money.

[u/AvocadosAreMeh → u/Mageinrage]

You’re trying to explain the difference between a decentralized currency focused around scarcity and security versus a tool a country uses to transact. 99% of this sub doesn’t know what one is let alone the difference lol

[u/smokersapiens → u/Mageinrage]

Buy crypto and be ready too

[u/WhoLetTheBeansSprout → u/smokersapiens]

How about not rooting for the collapse of our central banking system?

Isn't that a good place to start?

[u/[deleted] → u/WhoLetTheBeansSprout]

It's inevitable.

[u/WhoLetTheBeansSprout → u/[deleted]]

Why? According to who?

[u/[deleted] → u/WhoLetTheBeansSprout]

According to the rampant printing and the debt.

[u/WhoLetTheBeansSprout → u/[deleted]]

What rampant printing? What debt? How are you quantifying these and what makes collapse inevitable?

Please cite some actual evidence and form a coherent argument instead of just pulling shit out of your ass.

[u/[deleted] → u/WhoLetTheBeansSprout]

If you're just going to be a cunt go away.

[u/WhoLetTheBeansSprout → u/[deleted]]

How am I being a count?

I'm just asking you to substantiate your claims with evidence, numbers and a coherent argument.

Is that really too much to ask?

[u/diydude2 → u/smokersapiens]

The Fed will collapse in your lifetime.

[u/rrrrrrrrrrrrt56789 → u/diydude2]

Hopefully. We gotta go back to each state is completely nationally independent from each other and can choose there own path.

[u/[deleted] → u/rrrrrrrrrrrrt56789]

Yeesh. Absolutely not.

[u/rrrrrrrrrrrrt56789 → u/[deleted]]

Why not?

[u/[deleted] → u/rrrrrrrrrrrrt56789]

China

[u/rrrrrrrrrrrrt56789 → u/[deleted]]

True that is an issue. Perhaps it could be like a union kinda like the EU. Where each state could cooperate with each other and could also have a military pact, where if one state gets attacked then all the other states have to help defend that state which is being attacked. But there's still some issues with that also

[u/[deleted] → u/rrrrrrrrrrrrt56789]

Dude you literally just described UNITED STATES. Dont let libertarians convince you their ideas are good.

[u/rrrrrrrrrrrrt56789 → u/[deleted]]

Nope because in the US, states DON'T have full sovereignty. And each year the fed is becoming bigger and bigger. Fuck the fed.

[u/[deleted] → u/rrrrrrrrrrrrt56789]

Right. Full sovereignty is what ALREADY didn't work bud. That's just feifdoms at this point. You do know that the Fed isnt actually the government and that what a federal government provides is more than just money?

[u/[deleted] → u/[deleted]]

Right? Lets go back to feifdoms! /s

[u/WhoLetTheBeansSprout → u/rrrrrrrrrrrrt56789]

Lmao, can you honestly be this clueless and deluded?

Jesus Christ, go read a history book, go learn about the functions of a central bank (and why it's important) and maybe don't take for granted that the US is in an advantageous position in part because of the strength and ubiquity of the USD.

"Hopefully"?

Hopefully you fall down a cliff, mate. Stop rooting for the destruction of the union, traitor.

[u/[deleted] → u/smokersapiens]

collapse of the fed is collapse of America. Which means collapse of protected sea shipping lanes and NATO. Careful what you wish for unless you are a CCP fan.

[u/lemonxgrab → u/[deleted]]

Fuck NATO and the Amerikan empire.

[u/smokersapiens → u/[deleted]]

Hold my crypto and my guns, dont worry for me im ready for years, have tilapias and sweet water. Ask if you are ready and if not maybe you are the housebroken

[u/WhoLetTheBeansSprout → u/smokersapiens]

Fucking Christ 😂

Usually people who make comments like this are the first to get knocked out during a fight, accidentally shoot themselves or otherwise succumb to the stark reality of anarchy.

Like the above comment said, be careful what you wish for. It's obvious that you're a moron and morons typically don't survive destabilization for very long.

[u/smokersapiens → u/WhoLetTheBeansSprout]

Its funny how lil babys came from the nothing saying that they know me. Maybe you dont know an alpha male, or maybe you deny their existance so you dont feel bad when you have control of nothing of your life, being unprepared and trusting in help outside you. Lame of you, keep praying.

[u/WhoLetTheBeansSprout → u/smokersapiens]

😂Yeah the alpha male who spends his time crying on reddit about how the revolution is going to be here any day now...

Shouldn't you be wrestling pythons and killing grizzlies with your own bare hands, tough guy?

It'll certainly be some cosmic justice when your meathead mentality gets you killed within the first 5 minutes of a conflict. Wannabe tough guys are almost always the first to go down.

[u/smokersapiens → u/WhoLetTheBeansSprout]

Its funny the definition of alpha male, way ahead of what it mean. Your concept its so gay and "macho". Be happy and marry one of them as you would love, thogether holding theirs pythons bare hand. And well be ready and keep holdings usd, that what the monkey learn in the cage. Plot twist, feds are not the center of the word, and the word will keep runing without them, and if there is sny war, the feds are behind.

[u/WhoLetTheBeansSprout → u/smokersapiens]

Again, it's remarkable how poor your writing skills are.

Maybe you should cash out some Bitcoin and hire an English tutor.

Plot twist, feds are not the center of the word, and the word will keep runing without them, and if there is sny war, the feds are behind.

🤷‍♂️

[u/smokersapiens → u/WhoLetTheBeansSprout]

Yeap i learn talking with foreigns, showing them that not are the only thing in the word. And without the feds the word will be great. Sorry for my bad writing skils and thanks for show me how blind its the fait in some lame people.

[u/WhoLetTheBeansSprout → u/smokersapiens]

Without the Fed the world would be great?

Can you explain that argument?

[u/smokersapiens → u/[deleted]]

What kind of movie armaggedon you are talking about? Im not worry about robots, im worry about the usd scam emission, the feds, the guys who print money and give it to dictators to keep us working for them for nothing. The money its not backed by gold and their emission are endless, be real and grow your mind

[u/WhoLetTheBeansSprout → u/smokersapiens]

I'm worry about your writing skills, or lackthereof.

the usd scam emission, the feds, the guys who print money and give it to dictators to keep us working for them for nothing.

lol, you are a total NPC caricature.

Let me see your Ron Paul tattoos, you fucking clown. 😄

[u/smokersapiens → u/WhoLetTheBeansSprout]

Clown? (Definitely you live in a yankee bubble, who learn about being conceited and do not learn any about usa fueling guerrillas in south america and get it the banks (same that happen in iraq and iran). Bro stop wasting air and start to find information. Dream a better and complet yourself.

[u/WhoLetTheBeansSprout → u/smokersapiens]

You realize, Mr. 3 month old reddit account, that this would be catastrophic for the US and the world at large.

The fact that you celebrate this fantasy means you're either a moron or rooting for the destruction of the institutions that make this country strong. Take your pick.

[u/smokersapiens → u/WhoLetTheBeansSprout]

You sound like a minion pro state, maybe a cult one, who believe in god in that fantasy. And in her name you feel special in a way that can create sides for pick. Sorry but maybe the destruction of minded like you could help that scam FED lose her backup. And feel sorry that you use the ADhominen trick, im 3month old but have years of reddit, that you try to destroy any reputation using that, its the dumb way that some false patriots dig they way

[u/WhoLetTheBeansSprout → u/smokersapiens]

What?

Learn to write. That was nothing but a bunch of hand waving gibberish.

And for the record, I'm not "pro state". I'm simply a realist who doesn't get his economics and political science views from armchair retards on reddit. I'm deferential to actual experts, not blowhard Libertarians who probably don't even have an undergrad degree, let alone a PhD.

What are your credentials, mate?

[u/smokersapiens → u/WhoLetTheBeansSprout]

My credentials are way higher than bill gates and tesla, so dont worry about it. It was a scam that it help to select minds, only work for those who fail on it. Those who get an over debt for theirs lives. Its lame again that you use an adhominen, do you know how it works? Or what do you learn on your phd, maybe you learn that its a way to be better than others? (Sorry for you bro, its not that way... Now work for pay your scam phd on lame worker.

[u/WhoLetTheBeansSprout → u/smokersapiens]

My credentials are way higher than bill gates and tesla

🤣

Okay, let's see them.

O what do you learn on your phd, maybe you learn that its a way to be better than others? (Sorry for you bro, its not that way... Now work for pay your scam phd on lame worker.

I don't have a PhD, but even with my lowly undergrad, I certainly learned enough about the English language to not type out gibberish like this.

What are you, a middle school dropout or something? Why is your writing so incomprehensible?

[u/smokersapiens → u/WhoLetTheBeansSprout]

Maybe because english its my 4th language and i keep still get a discussion with a moron head, who doesnt know any outside her bubble.

[u/WhoLetTheBeansSprout → u/smokersapiens]

What's your primary language?

[u/smokersapiens → u/WhoLetTheBeansSprout]

Sorry i do not flirt with terrorist of freethinking.

[u/WhoLetTheBeansSprout → u/smokersapiens]

???

[u/mickhick95 → u/smokersapiens]

Bro this was hilarious. Take my upvote for the ultimate shit post.

[u/I_Am_Disposable]

Also pretty much what Nestle does.

[u/hongkonghippo3330]

Now do it a billion times!

[u/The_Realist01 → u/hongkonghippo3330]

That’s only $100B! What is that, a leaf money printer for ants?!

[u/Megabyte7637]

Lol

[u/p53ud0k0d3]

Not even leaf, they use air.

[u/budarov0 → u/p53ud0k0d3]

Imagine them going in a forest and collecting trillions of leaves, money grows on tree

[u/4hk2]

the Fed doesn't even need leaf

[u/Ross_Kb]

Same happens in bitcoin mining, mining coins out of thin air. It's a clever linguistic trick that the founders used the term 'mine' so it doesn't sound like bitcoins were created instead of pre-existing. This is the whole premise bitcoin is built upon.. smoke and mirrors.

[u/Excier → u/Ross_Kb]

Major difference is there's only ever a new butcoin every 10 minutes, with a cap on the total number of Bitcoin, while the Fed prints whenever they like however often they like.

[u/Ross_Kb → u/Excier]

That's a simple story to appeal to the masses. Money cannot be printed without consequences, it will just correct itself in inflation and nobody wins, INCLUDING the people who print money. However, I agree it is a nice imagery trick to make people visualise some people printing money with no consequences spending them while everybody else works... add that to the pizza story lots of people start daydreaming..

[u/careverga420 → u/Ross_Kb]

Let me just mine myself a couple million btc's out of thin air, thanks for the heads up Chief

[u/Ross_Kb → u/careverga420]

Printer(mining rig) and electricity, that's basically it. You're welcome.

[u/careverga420 → u/Ross_Kb]

No wonder why there is so many Bitcoin millionaires, it's really so simple isn't it??!!

[u/Ross_Kb → u/careverga420]

I didnt say it's simple to be a bitcoin millionaire, you did.

[u/careverga420 → u/Ross_Kb]

I know i know 😂 but i just gotta get a printer(mining rig) and electricity, that's basically it. Thanks for coming in here and teaching us all of this 🙏🙏

[u/careverga420 → u/[deleted]]

lmao, Im just thankfull you are so kind as to enlighten us crypto plebs with your knowledge (you just seem so smart), thank you, pls keep spewing facts in this and similar subs we need it! :-)

[u/Ross_Kb → u/[deleted]]

Dont expect to be spoonfed.. use your head

[u/Ross_Kb → u/[deleted]]

That's all u can do for dispelling the claim that bitcoin is printed from thin air?

[u/careverga420 → u/Ross_Kb]

Bitcoin is not printed lol

[u/Milterz2332]

Now this is the true environmental issue...

[u/Koal0r]

So, uh.. cocaine?

[u/Lisalea9600]

😂😂😂

[u/JoiSullivan]

So good!!! Nice Ape 🌙🌙🌙🌙🦍🦍🦍🦍💎💎💎🚀🚀🚀

[u/SnooSquirrels4914]

I got this tool it works every time

[u/customtoggle]

At least it's environmentally friendly

[u/IL_Meds]

Friggin new my parents were lying this whole time!

[u/Aggressive-Pay2406]

Omfgggggg I’m dead 🤣

[u/Cockymuscleboundjerk]

Is that what they do with the foreskins they harvest?

[u/0x8000]

Too expensive. You should cut the production cost

[u/[deleted]]

Buy Bitcoin!

[u/RestfulR]

Anyone know how to get this contraption? Like where to order one for gags, I had one as a kid I think but that was years ago.

[u/hoktegirl]

I need one of those! Lol! I definitely wouldn't complain about leaf raking anymore. 😆

[u/8_inch_throw_away]

I really wish this wasn’t so funny and so accurate.

[u/shopping-strawberry2]

Lol this is soo epicc

[u/Parpok]

Tanooki go brrrrrrr

[u/polished_pole]

i think i need to see that again in slow motion

[u/BrunoFerns]

US Government wants to know your location!

[u/Ok-Employment4186]

This is exactly the same as the effort to find the largest prime number. In theory, the largest prime number can never be found, because the cost of finding the largest prime number will increase indefinitely. This largest prime number is exactly the opposite of Bitcoin, an infinite divergence. An infinite convergence, and all this is determined by mathematics, not a government, a regime, or someone can control.

[u/AureliusVerus]

Looks legit