If money isn't for sharing, then what's it for? I don't understand rich people
@SOJB said in #1:
> If money isn't for sharing, then what's it for? I don't understand rich people
Ok, let’s say you have $500 million. Let’s take aside $1,000,000 for a house, cars, basic needs, etc. Now medical bills. In America, these on average cost $420,000,000. So, you only have $79 million left. Let’s take taxes now, about 99% in America. Now you have $790,000 left. Now take college debt, about $690,000. Now you only have $100,000 left. You put half in stocks. The rest you save.
> If money isn't for sharing, then what's it for? I don't understand rich people
Ok, let’s say you have $500 million. Let’s take aside $1,000,000 for a house, cars, basic needs, etc. Now medical bills. In America, these on average cost $420,000,000. So, you only have $79 million left. Let’s take taxes now, about 99% in America. Now you have $790,000 left. Now take college debt, about $690,000. Now you only have $100,000 left. You put half in stocks. The rest you save.
A smart person doesn't accept payment in a printable currency. They also don't take loans in a currency where the free market doesn't set the interest rate
@ST4RSCR34M said in #3:
> A smart person doesn't accept payment in a printable currency.
That's incorrect. Paper currency is the most liquid asset there is.
> They also don't take loans in a currency where the free market doesn't set the interest rate
Free market doesn't set national interest rates. Example: in the US, we have the FOMC. Canada's CB sets the interest rate in Canada.
Are you just saying that only morons accept loans?
> A smart person doesn't accept payment in a printable currency.
That's incorrect. Paper currency is the most liquid asset there is.
> They also don't take loans in a currency where the free market doesn't set the interest rate
Free market doesn't set national interest rates. Example: in the US, we have the FOMC. Canada's CB sets the interest rate in Canada.
Are you just saying that only morons accept loans?
@SOJB said in #1:
> If money isn't for sharing, then what's it for? I don't understand rich people
Money is for the procurement of goods and/or services that people want and/or need. It's actually rival in use, so it can't really be shared in the first place.
> If money isn't for sharing, then what's it for? I don't understand rich people
Money is for the procurement of goods and/or services that people want and/or need. It's actually rival in use, so it can't really be shared in the first place.
@SOJB Its for buying a BUGATTI! Wait I'm sorry what color is your BUGATTI?
www.youtube.com/watch?v=gYVg80ptU0M
www.youtube.com/watch?v=gYVg80ptU0M
@clousems said in #4:
> That's incorrect. Paper currency is the most liquid asset there is.
>
> Free market doesn't set national interest rates. Example: in the US, we have the FOMC. Canada's CB sets the interest rate in Canada.
>
> Are you just saying that only morons accept loans?
maybe not morons but I think most people are just uneducated about how money works. they are either oblivious or if they do understand a bit of the grift they don't actually realize how hard they really are being shafted simply because a lot of the issues in the economy are deferred issues (so it looks like everything has been going moderately ok) but those issues are soon to come due, and once they do it will already be too late. anyone with debt will go bankrupt and anyone with money in the bank will lose that too since they will go bust too.
for example asset prices have been going up and up and up, and that has been feeding the economy and covering up the issue of all the money printing, everyone thinks they are getting rich(except you're not rich until you sell). but unless these things can go up and up forever eventually they will need to stop or trend back downwards and that's when we will see the panic because asset price inflation has been fueling the economy and slowing down the velocity of money but that will unwind and asset price inflation will spill out and goods and services will absorb all that inflation THIS WILL BE AN INTEREST RATE FEEDBACK LOOP
anyways that was one mean tangent I went on because I felt like I had to explain my earlier point
loans require you to pay them back and trap you into needing to earn or trade for that currency, a smart person would decouple themselves from such a highly manipulated system we've lived in. everything would actually be fairly priced and the economy would be much more efficient if we went back to a gold standard
> That's incorrect. Paper currency is the most liquid asset there is.
>
> Free market doesn't set national interest rates. Example: in the US, we have the FOMC. Canada's CB sets the interest rate in Canada.
>
> Are you just saying that only morons accept loans?
maybe not morons but I think most people are just uneducated about how money works. they are either oblivious or if they do understand a bit of the grift they don't actually realize how hard they really are being shafted simply because a lot of the issues in the economy are deferred issues (so it looks like everything has been going moderately ok) but those issues are soon to come due, and once they do it will already be too late. anyone with debt will go bankrupt and anyone with money in the bank will lose that too since they will go bust too.
for example asset prices have been going up and up and up, and that has been feeding the economy and covering up the issue of all the money printing, everyone thinks they are getting rich(except you're not rich until you sell). but unless these things can go up and up forever eventually they will need to stop or trend back downwards and that's when we will see the panic because asset price inflation has been fueling the economy and slowing down the velocity of money but that will unwind and asset price inflation will spill out and goods and services will absorb all that inflation THIS WILL BE AN INTEREST RATE FEEDBACK LOOP
anyways that was one mean tangent I went on because I felt like I had to explain my earlier point
loans require you to pay them back and trap you into needing to earn or trade for that currency, a smart person would decouple themselves from such a highly manipulated system we've lived in. everything would actually be fairly priced and the economy would be much more efficient if we went back to a gold standard
@clousems said in #5:
> Money is for the procurement of goods and/or services that people want and/or need. It's actually rival in use, so it can't really be shared in the first place.
So when is enough ,enough. Numbers never end , so I guess it's never enough for the rich.
> Money is for the procurement of goods and/or services that people want and/or need. It's actually rival in use, so it can't really be shared in the first place.
So when is enough ,enough. Numbers never end , so I guess it's never enough for the rich.
I'm poor yet deadly rich
@clousems said in #5:
> Money is for the procurement of goods and/or services that people want and/or need. It's actually rival in use, so it can't really be shared in the first place.
Money is the "alienated ability of mankind."
> Money is for the procurement of goods and/or services that people want and/or need. It's actually rival in use, so it can't really be shared in the first place.
Money is the "alienated ability of mankind."
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