jnerdit's comments

jnerdit | 5 years ago | on: Ask HN: Why can't good side of Silicon Valley outsmart evil s. and Wall Street?

Thanks, you're correct I had the definition of 'zero-sum' backwards in my head and for that context - let me be clear - I just have a deteriorating faith in the the USD. I personally assign less and less value to it. I just meant to point out the fact that our fractional reserve banking system is 'built-to-fail' by design.

The helicopter money and trillion dollar injections can only last if the banks are solvent - they cant be peddling' garbage debt,,,they never stopped and some market will bubble again and wash out the meek..

This constant balancing act that we play with the US economy and global markets incites fear and greed.

Back before US notes and banks, we had the goldsmith. Goldsmith takes custody of gold, and issues dollars/bonds/notch for amounts on transactions... as it is much easier to hand someone a slip of paper than moving gold around constantly. OK cool except, wait - nothing is stopping goldsmith from making multiple slips for the same stack of gold. Uh oh - The classic double spend!

Now, 2021, We have solutions to this now in the form of blockchain/crypto. It is the most easily accessible sound form of money...just not quite easy enough yet.

jnerdit | 5 years ago | on: Ask HN: Why can't good side of Silicon Valley outsmart evil s. and Wall Street?

It doesn't matter who the players are, because the fundamental incentive to do, anything - money - is a zero-sum game. Its a points game. The Federal Reserve, a private bank and single entity, can and will print as much money as the government will take -at interest- to fulfill the whimsy of policy makers and constituents. Fractional Reserve banking systems do not work. Ours is broken and failing. We need a complete reset.