Precisely. I'd love to know the year where infinite monero exist
Year ∞. Which is ∞ years after the heat-death of the universe is posited. As to where, I would suggest the conformal point at ∞.
How accurate is this youtube video's content on the debt-based money system and the enslavement of people?
https://www.youtube.com/watch?v=fKob3fGSm9oOk so at
3:42 he kinda has it wrong here. They wouldn't loan out 9 billion by using 1 of the 10 billion as reserve. The 10 billion would be the reserve and they would loan out 90 billion.
At
4:33 It's true that if everything works flawlessly they can rehypothecate base money deposits over and over again up to some theoretical limit but that never really happens. Eventually someone withdraws cash and it gets interrupted. That might explain another reason why certain people and groups hate cash so much.
"Inflation is essentially a hidden tax on the public." Kinda. It's more a hidden tax on the subjects of our empire. It hides from the american public that the US empire is an empire by obfuscating the flow of funds. In the past empires would just go to foreign lands and say give us your gold or we'll cut ya. But that is politically untenable in the modern world. So the inflation of the dollar is the means by wich we transfer funds from our subjects to our homeland. If any of our vassal states interrupt this process in any way than we do send the military to fuck them up but the state tells the public that it's for humanitarian reasons. That's how modern empire works.
So then it might occur to you to ask how does inflation transfer funds from vassal states to the US homeland. Other countries are forced to hold USD reserves. As their purchasing power is inflated away they are forced to buy continually more. In order to get more they send us products and resources. Oil is the biggest thing. That's why we have such cheap gas in the us compared to other places and such an abundance of cheap chinese products. So yes some of our purchasing power is inflated away too but the american people are largely the beneficiaries of this also.
With regard to the question of the inability to create non interest bearing money to pay interest on previous debts. The fed has a tool called an "open market operation". The fed doesn't HAVE to buy t-bills with the money that it creates. It doesn't HAVE to buy debt instruments. It can buy what ever it wants. If it buys equities (stocks) for example than it is creating new money to buy an asset not a debt. There is no money owed on this newly created money. In theory this could be used to pay the interest on debt.
Truthiness 7/10. All the stuff about commercial banks rehypothecating money over and over again is true and important. And the fed does buy a lot of t-bills. There probably doesn't exist enough money in the system to pay all the debt, that is probably true. But the fed could create it if it wanted through open market operations. So it's not quite as dire as it makes it sound in some ways. It's right in that it is a giant purposely complex scheme designed to be unintelligible to all but the initiated and rob the world of it's prosperity. I would call it true enough.
Yes I can tie all that to a monero speculation thread. All that nonsense up there is part of why monero is such a great value proposition!
Is there any academic publication that analyses the debt-based monetary system critically, or is critic of it? If yes, can you link me to it?
I can't believe that no Piketty, Stiglitz, Krugman has delved into this. Is their eye closed?
Not even Chomsky ever blew a word on it and historically he's been all along critical of all wrongdoings and injustices perpetrated by U.S. government and its satellite institutions. Is this too a subtle phenomenon for him to see it in clear light perhaps? Perhaps you need to dive deep layers of maths with wild assumptions, and the people above are not academic risk-takers, so to say.
Anyone has collected data and built models? In other words, where can I find a neat collection of numbers and comments, hypothesis on this idea?
