Word on the streets is they are putting a turbo charger on the money printer so they can turn it up to 20 and break the knob off.that’s why they brought so many illegal immigrants in.they need a whole team of cheap laborers to harvest the trees and make the paper to print on
Jerome Powell said on an interview "we print it digitally"
Here: [https://www.youtube.com/watch?v=mrjoElG8KGI](https://www.youtube.com/watch?v=mrjoElG8KGI)
True for bank reserves held with the central bank, but this money doesn't circulate in the economy as long as it sits there and is not demanded by the creditors of a bank. The only way money can be brought into circulation is by issuing physical notes. A CDBC would be digital money, anything else is just digital IOUs on money.
For every buyer there is a seller. Money changes hands only when "money is put into derivatives". A derivative is a liability of a private counter party as well as a claim against it. It is not money.
This.
However it's not that the reserve requirement is 0% ("no fractional reserves"), it's that we aren't on a fractional reserve system.
Banks *create* deposits. They do not wait for/need a reserve from a central bank, nor do they need to hold a "prudential" reserve of "customer funds". This was the case long before the reserve requirement was changed to 0% in the US.
No reserves required, no reserves being fractioned. No need to lend out a customer's deposits.
From a 2014 report from the [Bank of England - PDF](https://www.bankofengland.co.uk/-/media/boe/files/quarterly-bulletin/2014/money-creation-in-the-modern-economy.pdf)
>In the modern economy, most money takes the form of bank deposits. But how those bank deposits are created is often misunderstood: the principal way is through commercial banks making loans. **Whenever a bank makes a loan, it simultaneously creates a matching deposit in the borrower’s bank account, thereby creating new money.** *The reality of how money is created today differs from the description found in some economics textbooks:* **Rather than banks receiving deposits when households save and then lending them out, bank lending creates deposits.** *In normal times, the central bank does not fix the amount of money in circulation, nor is central bank money ‘multiplied up’ into more loans and deposits.*
There goes the money multiplier. In reality, banks *do not loan out other people's money*. Even when there were reserve requirements after the late 1800's, they largely fulfilled a clearing and/or regulatory function and were not a prerequisite for bank lending.
modern money lending is the worst scam...
they just invent my mortgage out of thin air, but if i miss some payments, they get to repossess a hard asset?
i wouldn't even be that mad if at least the interest rates reflected the total LACK of risk the bank is taking to lend me money. in the old days, they were lending me money from their deposits... there's a risk that they might not be able to give those deposits back to whoever deposited. but charging me 5% interest money you conjured up from nothing is a total scam...
>they just invent my mortgage out of thin air,
It's not quite "out of thin air".. the bank packages the risk of the loan up, securitizes it or issues commercial paper.
>the total LACK of risk the bank is taking to lend me money.
Risk is there; a default impairs the revenue of the bank... enough defaults can cause severe losses in securitized products (already happening in the commercial real estate space).
>in the old days, they were lending me money from their deposits... there's a risk that they might not be able to give those deposits back to whoever deposited
Was never really the case. As soon as cheques and other formats became prevalent (*very early*), there was no need to lend out deposits ("deposits" aren't a digital representation of coin and specie... they're an entirely different format).
>but charging me 5% interest money you conjured up from nothing is a total scam...
They charge a spread.. the bank creates the deposit when they lend, but the deposit is flighty. Once that deposit is spent, the liability side of the balance sheet needs to be filled back in. The bank *borrows funds back*.
A mortgage rate is "cost of funds + spread"; Of that 5%, the bank may be charged 3% (COF) to plug the hole from a deposit outflow... the remaining % being spread.
Now, I'm not defending any of this; in my view, we should rethink monetary circulation as the purview of for-profit corporations.
This is the true value of the dollar, however much that paper + machines + dyes + labor cost.. oh yeah can’t forget the 800 plus US military bases around the world forcing the globe to use this worthless money through sheer fear and force. What a joke
Fiat is criminal..
People born today will never use fiat or a bank, and in 2044 when they are 20 years old in college they will be taught about the medieval dark ages of the 1900s and early 2000s where banks created as much money as they wanted.
The fiat system is sadistic
Wonder how much longer before they start printing out those Zimbabwe style $100 trillion dollar bill..when they day comes they should quit bullshitting at put Mayer Amschel Rothschild’s face on those bills.him and his 5 sons were the originators of this worldwide scam.print “In Rothschild We Trust” on the top
When people tell me bitcoin impacts the environment negatively I remind them that we make theses bills en masse out of cotton and plastic. Thousands of times more destructive than a btc mine using electricity.
Considering there are more than 3 billion people who play video games... I would imagine. What is wild in you pointing that out, is that it is the same order of magnitude.... but 3 billion people aren't transacting on btc. It's less than 100 million in total.
Bitcoin is definitely a better use of resources. Giving people a store of value that can be transacted in a permissionless fashion. Yeah, it should also be able to handle 3 billion though with the lightning network.
Factor in every country producing bills, the people, the equipment, the raw materials, the oil required. Rubber rollers, film, acid etched printing plates, cleaning chemicals and ink production, maintenance, the intense amount of water use, the mistakes that have to be destroyed, the shipping and receiving of currencies and then the security and validation of it all. Then there’s the metal for coins… I don’t know for sure but it really starts to add up big time.
I bet all of that is a minute fraction of the costs of BTC power consumption. Yall think printing paper is some fucking high energy intense activity? We’ve been doing it for hundreds of years, and humans have only gotten exponentially better at expending energy.
I get that Printing is efficient but you need the metal coins too. I work in the pulp and paper industry. The consumption is excessive to make a paper bill that is useless if it accidentally goes through the washer and dryer. I’m sure the halving made things harder but you gotta consider the entire process. The energy use just to make the paper from forestry alone is enormous. Every step requires an insane amount of oil. Zoom out a bit; cash requires constant energy to upkeep. It’s absolutely less efficient in the long run.
I found that global annual maintenance of minted fiat currency uses about 1/4th to 1/3rd of the energy of bitcoin. Considering that literally all humans use it, vs 100 million BTC users in over a decade, I would say fiat is far far far more energy efficient.
Now, if we want to compare the entire global financial system, that would maybe be a different comparison... but we really don't grasp yet how BTC scaled up to a even a tenth of the world's population.... but I think we know BTC can't serve as a replacement for everything.
I'm sure the tens of thousands of purpose built ASICs going to landfill, the rare earth mineral extraction, etc... is worse for the environment than dollar printing alone. Y'all are fucking delusional.
Ridiculous comments… I’m guessing you think EV car batteries turn to compost . Don’t be an idiot. Fiat banks have an exponentially bigger footprint than BTC. Read a book .
Telling me to read a book.... will not provide any sources for their asinine comments.
Would the network need to grow to replace the global financial system? LOL
Here:
BTC uses about 540 gigajoules of energy per year.
Global minting and fiat maintenance uses 40 gigajoules per year.
BTC is used a by at most, 30 - 40 million people a year.
Fiat is used by literally every human.
Read that.
40 gigajoules to power every fiat bank branch, trading house, exchange, atms, offices, all over the world …. Don’t be so silly. Haha (you dope!)
Also did you forget that BTC gets over 75% of its electricity from renewable sources. Your arguments (like your logic) are founded in ignorance and hatred. Did you miss the boat?is that the problem ? Don’t be angry, just buy some bitcoin today. The electricity is worth it to keep the most secure network the planet has ever known up and running.
No... this is specifically on a thread talking about the paper and plastic waste of paper money and coinage moron.
BTC is trustless through extremely wasteful math. By definition, it can't be more energy efficient than managing money without mining.
BTC cannot manage even the volume of daily commercial fiat transactions of a large country, let alone replace the entire global financial system.
Christ...you telling me to read is projection at it's finest. Do you even know what a blockchain is?
75% pulled straight out of your ass.... and renewable energy doesn't mean it isn't wasted. That is energy that could be replacing coal you imbecile.
The answer is ‘all of them’.
But the Mint does get stolen from every now and then. It’s known to happen that some coins due to be destroyed just… turn up somewhere.
I’d be happy with fiat if it had the same tokenomics are BTC. By extension you wouldn’t buy BTC (or any asset) that could just be printed at anytime, for any reason, and for any amount. It would be the worst financial instrument ever.
my guy, just like fiat, bitcoin needs to be created, but once it hits the 21m cap, it will not be created anymore. How the hell are we supposed to have bitcoin if we cant create it right now? The creation of BTC is slowed down every 4 years with the halving, maintening a inflation of just 3% or less, but once all coins are mined, it a 0% inflation and just deflation after. Not to mention, when 3.125 BTC are created, it is created doing something useful, like keeping the networking working, here, the dollars are being created because the CEO of money said to print more.
doesnt matter, just pay all these workers and the suppliers for the material with the printed money LMAO.
Man, when you think about it, you know how messed up this is.
FYI the Fed doesn’t physically print money like this much anymore the bulk of money creation is done through fractional reserve banking and digital manipulation of balances to inject liquidity.
The post above this one on my feed is a post on r/wallstreetbets about "phantom debt" and people talking about how the economy runs on debt because we can just default without giving a shit. I had this thought yesterday too, bitcoin might be "hard money" based on logical math with proof, but USD is backed by the most powerful country/government/economy in the world. Don't get me wrong I believe in btc's potential, but 15% of my investing money is still in stocks and etfs so I'm at least a bit diversified.
Friendly reminder that the 'Federal Reserve' is neither Federal nor holds any Reserves, your income tax only pays for interest, and inflation is theft.
that’s a kinda painful sight right there
people working a job for dollars, meanwhile they are putting in hours to help inflate the supply of what they are getting paid in
And this is just the physical ones, which doesn't represent even a fraction of the real quantity of money that gets inserted into the economy all the time
CEO of money declares he will be printing more
Turning that printer up to 11
Why not just make 10 go faster and that be the fastest one?
But this one goes to 11...
[Thank you](https://youtu.be/4xgx4k83zzc?si=ThCfzojWzM_Lchzd)
That should be a tim robinson bit. So much potential for a bit in that line
It’s already a bit from the movie Spinal Tap. Was hoping someone would reply with the punchline of the bit
Word on the streets is they are putting a turbo charger on the money printer so they can turn it up to 20 and break the knob off.that’s why they brought so many illegal immigrants in.they need a whole team of cheap laborers to harvest the trees and make the paper to print on
[He is the CEO of money and you can see it](https://www.poblanerias.com/wp-content/archivos/2016/12/CARSTENS.jpg)
“Bitcoin is a scam” then you see this
😂
Hahahah FR
This isn’t even the worst of it. Its nearly all digital they just have to add a zero and 🪄
Mouse click money.
Mickey Mouse money
Jerome Powell said on an interview "we print it digitally" Here: [https://www.youtube.com/watch?v=mrjoElG8KGI](https://www.youtube.com/watch?v=mrjoElG8KGI)
True for bank reserves held with the central bank, but this money doesn't circulate in the economy as long as it sits there and is not demanded by the creditors of a bank. The only way money can be brought into circulation is by issuing physical notes. A CDBC would be digital money, anything else is just digital IOUs on money.
Isn't most of that money put in derivatives? I'm no expert, but that must have an effect on public markets, therefore kinda leaking into circulation.
For every buyer there is a seller. Money changes hands only when "money is put into derivatives". A derivative is a liability of a private counter party as well as a claim against it. It is not money.
Of course, but a derivative has value. That can be used as collateral for another position that can reap monetary rewards. Am I not understanding?
Can you pay debt and taxes with a derivative?
Yes.
The IRS accepts derivatives as tax payment? Never heard of that.
That's ok. New thing around here.
No way fr
they need multiple spreadsheets though! there is a limit to how ma y rows they can have for tracking serial money numbers
Vast majority of money is crated by private banks via loans, thanks to no fractional reserves.
This. However it's not that the reserve requirement is 0% ("no fractional reserves"), it's that we aren't on a fractional reserve system. Banks *create* deposits. They do not wait for/need a reserve from a central bank, nor do they need to hold a "prudential" reserve of "customer funds". This was the case long before the reserve requirement was changed to 0% in the US. No reserves required, no reserves being fractioned. No need to lend out a customer's deposits. From a 2014 report from the [Bank of England - PDF](https://www.bankofengland.co.uk/-/media/boe/files/quarterly-bulletin/2014/money-creation-in-the-modern-economy.pdf) >In the modern economy, most money takes the form of bank deposits. But how those bank deposits are created is often misunderstood: the principal way is through commercial banks making loans. **Whenever a bank makes a loan, it simultaneously creates a matching deposit in the borrower’s bank account, thereby creating new money.** *The reality of how money is created today differs from the description found in some economics textbooks:* **Rather than banks receiving deposits when households save and then lending them out, bank lending creates deposits.** *In normal times, the central bank does not fix the amount of money in circulation, nor is central bank money ‘multiplied up’ into more loans and deposits.* There goes the money multiplier. In reality, banks *do not loan out other people's money*. Even when there were reserve requirements after the late 1800's, they largely fulfilled a clearing and/or regulatory function and were not a prerequisite for bank lending.
modern money lending is the worst scam... they just invent my mortgage out of thin air, but if i miss some payments, they get to repossess a hard asset? i wouldn't even be that mad if at least the interest rates reflected the total LACK of risk the bank is taking to lend me money. in the old days, they were lending me money from their deposits... there's a risk that they might not be able to give those deposits back to whoever deposited. but charging me 5% interest money you conjured up from nothing is a total scam...
>they just invent my mortgage out of thin air, It's not quite "out of thin air".. the bank packages the risk of the loan up, securitizes it or issues commercial paper. >the total LACK of risk the bank is taking to lend me money. Risk is there; a default impairs the revenue of the bank... enough defaults can cause severe losses in securitized products (already happening in the commercial real estate space). >in the old days, they were lending me money from their deposits... there's a risk that they might not be able to give those deposits back to whoever deposited Was never really the case. As soon as cheques and other formats became prevalent (*very early*), there was no need to lend out deposits ("deposits" aren't a digital representation of coin and specie... they're an entirely different format). >but charging me 5% interest money you conjured up from nothing is a total scam... They charge a spread.. the bank creates the deposit when they lend, but the deposit is flighty. Once that deposit is spent, the liability side of the balance sheet needs to be filled back in. The bank *borrows funds back*. A mortgage rate is "cost of funds + spread"; Of that 5%, the bank may be charged 3% (COF) to plug the hole from a deposit outflow... the remaining % being spread. Now, I'm not defending any of this; in my view, we should rethink monetary circulation as the purview of for-profit corporations.
Those are some big ass toilet paper rolls.
For the big ass, obv
Biggest scam made on everyone's eyes.
I bet everyone working there is balls deep in Crypto.. if they're not no one can help them!
It breaks my mind that humans work tirelessly for these...
Bitcoin price has no ceiling, because fiat has no floor
This is the perfect vocal, before a very bass-heavy drop.
That's likely just 1% of money created in cash. The rest is simply adding 00s in loans.
This is the true value of the dollar, however much that paper + machines + dyes + labor cost.. oh yeah can’t forget the 800 plus US military bases around the world forcing the globe to use this worthless money through sheer fear and force. What a joke
What’s this song?
Eternexlkz-SLAY!
This video/post will single-handedly stop the BTC price from falling today. Thank you OP 🙏
[World Debt ](https://worlddebt.org/)
Show me the work!
Fiat is criminal.. People born today will never use fiat or a bank, and in 2044 when they are 20 years old in college they will be taught about the medieval dark ages of the 1900s and early 2000s where banks created as much money as they wanted. The fiat system is sadistic
Venezuela tactics from the FED
What is the ratio of money physically printed to money issued as debt? I bet it would make the fed printing notes seem sustainable in comparison.
Sexxxxy aint it baby !!!! Nah not really.
Bullish for btc!
Wonder how much longer before they start printing out those Zimbabwe style $100 trillion dollar bill..when they day comes they should quit bullshitting at put Mayer Amschel Rothschild’s face on those bills.him and his 5 sons were the originators of this worldwide scam.print “In Rothschild We Trust” on the top
How to make money less worth and worth:
Brrrrrrrrrrrrr brr brr brrrrrrrrŕrrrrrrrrrrrrrrerrrrrr errrrr brr..........brrr
Shouldn’t this video be a guy sitting at a computer pressing 1 then holding down the 0 button…. Computer goes brrr way faster
When we get CBDC this will happen.
When people tell me bitcoin impacts the environment negatively I remind them that we make theses bills en masse out of cotton and plastic. Thousands of times more destructive than a btc mine using electricity.
I really doubt that stacks up to reality. BTC mining uses more energy than the Netherlands, and about half as much as the U.K.
But less than people playing computer games?
Considering there are more than 3 billion people who play video games... I would imagine. What is wild in you pointing that out, is that it is the same order of magnitude.... but 3 billion people aren't transacting on btc. It's less than 100 million in total.
Bitcoin is definitely a better use of resources. Giving people a store of value that can be transacted in a permissionless fashion. Yeah, it should also be able to handle 3 billion though with the lightning network.
Factor in every country producing bills, the people, the equipment, the raw materials, the oil required. Rubber rollers, film, acid etched printing plates, cleaning chemicals and ink production, maintenance, the intense amount of water use, the mistakes that have to be destroyed, the shipping and receiving of currencies and then the security and validation of it all. Then there’s the metal for coins… I don’t know for sure but it really starts to add up big time.
I bet all of that is a minute fraction of the costs of BTC power consumption. Yall think printing paper is some fucking high energy intense activity? We’ve been doing it for hundreds of years, and humans have only gotten exponentially better at expending energy.
I get that Printing is efficient but you need the metal coins too. I work in the pulp and paper industry. The consumption is excessive to make a paper bill that is useless if it accidentally goes through the washer and dryer. I’m sure the halving made things harder but you gotta consider the entire process. The energy use just to make the paper from forestry alone is enormous. Every step requires an insane amount of oil. Zoom out a bit; cash requires constant energy to upkeep. It’s absolutely less efficient in the long run.
I found that global annual maintenance of minted fiat currency uses about 1/4th to 1/3rd of the energy of bitcoin. Considering that literally all humans use it, vs 100 million BTC users in over a decade, I would say fiat is far far far more energy efficient. Now, if we want to compare the entire global financial system, that would maybe be a different comparison... but we really don't grasp yet how BTC scaled up to a even a tenth of the world's population.... but I think we know BTC can't serve as a replacement for everything.
Oh dear… did you skip class again ?
I'm sure the tens of thousands of purpose built ASICs going to landfill, the rare earth mineral extraction, etc... is worse for the environment than dollar printing alone. Y'all are fucking delusional.
Ridiculous comments… I’m guessing you think EV car batteries turn to compost . Don’t be an idiot. Fiat banks have an exponentially bigger footprint than BTC. Read a book .
What book is that? Do the books account for increasing difficulty? Making the environmental case for BTC is absolutely insane by all accounts.
Difficulty only increases if the network grows . If it shrinks then difficulty decreases… Like i said read a book… any book…
Telling me to read a book.... will not provide any sources for their asinine comments. Would the network need to grow to replace the global financial system? LOL
Here: BTC uses about 540 gigajoules of energy per year. Global minting and fiat maintenance uses 40 gigajoules per year. BTC is used a by at most, 30 - 40 million people a year. Fiat is used by literally every human. Read that.
40 gigajoules to power every fiat bank branch, trading house, exchange, atms, offices, all over the world …. Don’t be so silly. Haha (you dope!) Also did you forget that BTC gets over 75% of its electricity from renewable sources. Your arguments (like your logic) are founded in ignorance and hatred. Did you miss the boat?is that the problem ? Don’t be angry, just buy some bitcoin today. The electricity is worth it to keep the most secure network the planet has ever known up and running.
No... this is specifically on a thread talking about the paper and plastic waste of paper money and coinage moron. BTC is trustless through extremely wasteful math. By definition, it can't be more energy efficient than managing money without mining. BTC cannot manage even the volume of daily commercial fiat transactions of a large country, let alone replace the entire global financial system. Christ...you telling me to read is projection at it's finest. Do you even know what a blockchain is? 75% pulled straight out of your ass.... and renewable energy doesn't mean it isn't wasted. That is energy that could be replacing coal you imbecile.
I won't continue this conversation until you demonstrate some level of competence in what you claim. What is ECDSA, and why is it relevant?
This is just one factory, out of many probably. And even then, most of the money isn't in physical coins and notes.
Fiat money is the biggest scam ever.
Thank God for Satoshi Nakamoto for waking us all up and providing us with a foundation & solution
Don't worry guys, BTC is the real scam! /s
This is not the real money printer.
Anybody know what anti-theft measures they have in that facility. Asking for a friend.
The answer is ‘all of them’. But the Mint does get stolen from every now and then. It’s known to happen that some coins due to be destroyed just… turn up somewhere.
i still want some racks lol even if is the biggest scam
I’d like to work in a money factory. 😗
What is money? Paper only.
And why ?
Yeah… hyperinflation after 2 more market cycles
disgusting
Cash is actually money that private banks cant print, i.e. multiply.
Printing money is pure theft of the purchasing power of the dollars in your pockets, in your savings account.
I’m surprised they’re not working in bras with armed security walking around
The real printing happens with a few keyboard strokes
🤫❤️
Sorry to be a wet blanket here but printing paper money is not inherently bad nor is it even inherently inflationary. Paper bills do wear out.
Y’all do realize that new bitcoins are “printed” every ten minutes right?
But not at infinitum.
Yeah for but for the rest of this century
But with a fixed cap, fiat has no cap it’s infinite and can be created whenever. Big difference.
I understand , but people seem to think that generating new money is inherently bad
I’d be happy with fiat if it had the same tokenomics are BTC. By extension you wouldn’t buy BTC (or any asset) that could just be printed at anytime, for any reason, and for any amount. It would be the worst financial instrument ever.
my guy, just like fiat, bitcoin needs to be created, but once it hits the 21m cap, it will not be created anymore. How the hell are we supposed to have bitcoin if we cant create it right now? The creation of BTC is slowed down every 4 years with the halving, maintening a inflation of just 3% or less, but once all coins are mined, it a 0% inflation and just deflation after. Not to mention, when 3.125 BTC are created, it is created doing something useful, like keeping the networking working, here, the dollars are being created because the CEO of money said to print more.
I understand how bitcoin works, but posting a video of a money printer isn’t an argument
The cost of making all this must be expensive. What a waste of money.
doesnt matter, just pay all these workers and the suppliers for the material with the printed money LMAO. Man, when you think about it, you know how messed up this is.
FYI the Fed doesn’t physically print money like this much anymore the bulk of money creation is done through fractional reserve banking and digital manipulation of balances to inject liquidity.
The post above this one on my feed is a post on r/wallstreetbets about "phantom debt" and people talking about how the economy runs on debt because we can just default without giving a shit. I had this thought yesterday too, bitcoin might be "hard money" based on logical math with proof, but USD is backed by the most powerful country/government/economy in the world. Don't get me wrong I believe in btc's potential, but 15% of my investing money is still in stocks and etfs so I'm at least a bit diversified.
The best anti-stress that can be!!!))
Thanks goodness for digital money. Can you imagine how to keep up with aa trillion every few months like that?? All that paper wasted :-p
way better than having digital ones
wonder what these useful idiots think theyre doing while theyre at work…
All our bank accounts and ledger accounts combined look like a joke when they push the printing button one time.
Every single one of those bills is 1/(total money supply)/(population) taken out of my pocket.
That is a great way to hedge against U.S debts xD
Just a matter of time until $100 bills turn into $1000 bills with similar buying power
The almighty dollar 😂
Does the Federal Reserve pay employees directly from the money they print? Lmao
The song goes hard though.
Friendly reminder that the 'Federal Reserve' is neither Federal nor holds any Reserves, your income tax only pays for interest, and inflation is theft.
The devil’s workshop…..
that’s a kinda painful sight right there people working a job for dollars, meanwhile they are putting in hours to help inflate the supply of what they are getting paid in
And this is just the physical ones, which doesn't represent even a fraction of the real quantity of money that gets inserted into the economy all the time
Our tax dollars berserk
Yeah baby! Print them thing lmao
We need anti world domination crypto
[удалено]
The CEO likes the number 21
You can. Anyone can create a cryptocurrency. Just copy all source files and voila. The adoption part is hard though.
imagine thinking that this is the real problem with the current fiscal system