"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." -Henry Ford
Public Key
npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn
Profile Code
nprofile1qqstcmxdzw3jl9xnv4jd4j84jcaq66w9s0yedq6ph00j0zep75cf3eqpz9mhxue69uhkummnw3ezuamfdejj7gvmjs9
Author Public Key
npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn Show more details
Published at
2024-06-05T02:29:40+02:00 Event JSON
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"content": "{\"name\":\"f0xr\",\"about\":\"\\\"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.\\\" -Henry Ford\",\"lud16\":\"[email protected] \",\"display_name\":\"f0xr\",\"picture\":\"https://m.primal.net/IYyM.jpg\",\"banner\":\"https://m.primal.net/IYyP.png\",\"website\":\"f0xr.com\",\"displayName\":\"f0xr\",\"pubkey\":\"bc6ccd13a32f94d36564dac8f5963a0d69c583c9968341bbdf278b21f53098e4\",\"npub\":\"npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn\",\"created_at\":1717179323}" ,
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Last Notes npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr https://open.substack.com/pub/rightflank/p/universal-basic-income-just-crashed?utm_source=share&utm_medium=android&r=3i492j UBI is a communist scam . npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr "Deferred consumption is what makes capital formation and civilization possible. People work to create things that they don’t immediately consume, and those new tools and processes make it easier to create more things in the future with less effort, which raises the productivity of the economy (getting more output for less input) and makes society as a whole wealthier. Those new tools and processes can then be used to more efficiently create other tools and processes, which increases productivity even further, and the whole thing compounds on itself in an exponential curve of increasing productivity and increasing wealth. But it all starts with and relies on someone somewhere putting in effort now, to create something they won’t benefit from until later." https://www.f0xr.com/p/money-as-equity npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr Absolute insanity. Fiat clown world has hit rock bottom, and is starting to dig. #note1q6l…yrgj npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr Yes seems to be npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr Imagine how much of an irresistible force Bitcoin is to make the most powerful man in the world do a 180 like that. Incredibly bullish. npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr "Legal" is unfortunately just a cope now. Of course it's not "legal" according to our founding documents, and how long has it been since that mattered? npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr How to handle traffic stops like a boss. https://v.nostr.build/kg6ssC2mhTliccAz.mp4 npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr Oh yeah, it's definitely going to be an interesting fourth turning cycle. The whole house of cards is built on the back of the almighty fiat dollar. And all it takes to collapse the entire system is to step away and stop holding onto your fiat bags. npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr Sodomites once again thumb their nose at God, this time mocking the Last Supper. I won't be watching a second of this Satanic blasphemy. npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr Because the pedophiles and sodomites running our institutions love thumbing their noses at God and pissing all over the smoldering ruins of our civilization as they're busy destroying it. npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr If power hungry psychopaths can convince the populace that their rights aren't granted by God, but by popular vote, then shifting public perception by controlling the media and shifting vote totals by controlling the vote count is all it takes to give power hunger psychopaths "moral" cover to infringe on our God-given rights. It's not a misunderstanding, it's deliberate, pathological brainwashing. npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr It is crazy, and I love it. Takes so little to be above average when that's your competition. Accumulating wealth faster than the American consoooooooomer is like beating a midget at basketball. npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr LFG npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr "Green" energy is a euphemism for state mandated poverty. State mandated poverty is a description of communism. 🍉 politics, green on the outside, red on the inside. Nothing new under the sun. https://i.nostr.build/LhhPkF2nskPMmBpw.jpg npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr https://i.nostr.build/aB5Iq7PJ9cDaZHTF.jpg npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr A few more days before sub 50 please, just enough time to transfer some funds through the pathetic fiat rails npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr ahhh, a fellow noticer! 🍻 npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr "In 2019, the European Parliament mandated ISA technology to reduce traffic collisions and injuries. Recommended by the European Transport Safety Council, ISA aims to cut collisions by 30% and casualties by 20%, contributing to a goal of zero road deaths by 2050." Zero road deaths. We're ruled by a literal nanny state, a generation of childless harpies with tragically misplaced mothering instincts, and their effeminate beta orbiters. Setting an impossible target guarantees cover for unlimited totalitarian control forever. https://www.zerohedge.com/markets/orwell-hits-highway-starting-month-cars-britain-will-have-speed-limiters npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr The divorce-industrial complex. Birthrates continue to collapse, such a mystery... https://m.primal.net/JIJR.jpg npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr Imagining that women care one iota about your step up the ladder of science is peak nerd hopium, and a good way to ensure that you die without ever experiencing that moment. Don't shoot the messenger, I'm just presenting the facts 🤷🏼♂️ npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr Very different from "investing" in a house. And by the way, you can still be rugged by the landlord of the house you "own". The rent is a little cheaper, but try not paying your property taxes and see what happens. npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr I'm interested in learning npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr If you're walking down a dark alley and two guys in ski masks jump you, do you demand the right to hold a quick vote with them on what to do with the money in your wallet? And then leave happy after the result of the vote is for them to take your money? That's how democracy works. npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr Went to a sin festival, it was repulsively sinful. News at 11. https://v.nostr.build/J60m5.mp4 npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr "I'm going to buy this house, and then in 20 years when the roof needs replaced and the appliances are shot and the carpet is threadbare and the walls are scuffed and termites are eating the frame, I'll sell it for a 5x profit. 'Investing' in real estate, I'm such a genius." -statements made by the completely deranged npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr Imagine if a publicly traded company had an "inflation target" for their stock. "We will issue as many shares of stock as necessary every year to make sure the value of each share falls by 2% annually. The new shares will go to the board, management, and a few well connected insiders." Imagine what would happen to the stock of any company that tried that. Yet that's exactly what the banksters do with our money. They've just been successful enough at brainwashing and gaslighting people to keep the scam going for way too long. Imagine what will happen to fiat once people start to understand the banking and monetary system the way Henry Ford did. https://open.substack.com/pub/f0xr/p/money-as-equity?r=3i492j&utm_campaign=post&utm_medium=web npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr This kills the banking system npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr https://video.nostr.build/0c8e6194b37cb977abc0d4dcfcec89037962a65837d55138a6660f9f9fe4e064.mp4 npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr And there it is, the first tassels. Beat the 4th by a week. #note1yas…akhj https://m.primal.net/JBAU.jpg npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr I'm sure if we just build a few more windmills this problem will be solved 🙄 https://m.primal.net/IzqC.jpg npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr "loyal" https://m.primal.net/IsqC.jpg npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr 🤮🤮🤮 and then for no reason at all the country elected Hitler with overwhelming support https://m.primal.net/Ispy.jpg npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr But we have to ban incorrect political parties to save democracy! npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr It isn't coming right now. Gradually, then suddenly. Money supply has been shrinking for a while now, but that inevitably collapses the financial system because they're way too leveraged. And at that point it's if, not when, the next liquidity deluge hits. That tighten>collapse>bailout>inflation cycle has been repeating at increasing size and tempo since 2000. Eventually a cycle becomes big enough that they can't stuff it back in the bag so to speak, and people just want to get out of the currency at all costs. That's when the wage-price spiral happens. In the US we're being flooded with cheap Chinese goods and cheap Guatemalan labor. But that won't save them in the end, because the Chinese and Guatemalans will also demand higher wages to survive. The people actually doing the work always have the power at the end of the day. The elites are just terrified of the day the masses realize that fact. In the US something like skilled construction labor costs went up by 20-40% since 2019 and they aren't coming back down. Living expenses haven't fallen, and tradesmen are continuing to raise their prices even as the building industry gets squeezed by lower demand. That's the earliest glimmer of labor shifting the pricing power back in their direction. npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr There are tens of trillions in bank deposits and cash in the US alone. "Someone" is holding every dollar at all times, so every dollar created is debasing someone's savings. Most just don't realize it. But the worst debasement isn't savings, it's the lag in wages keeping up with prices. Every wage earner gets debased through that, and for a non-trivial amount. Hyperinflation happens when wage earners finally catch on, and proactively demand wage increases higher and faster than price increases. That's what happened in Germany and Austria in the 1920s. The bougie "elites" were aghast at the wages demanded by their domestic servants, while their own "risk-free investment" in government bonds had evaporated to essentially zero. That's the dreaded "wage-price spiral" the Fed has been freaking out about since 2021. npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr Reminder that climate "science" is as ridiculous as voodoo, and even more evil. https://video.nostr.build/4359ed5915c37406ebcfb2436025704db7160fc90db01e071eed0f4295b591d4.mp4 npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr Yeah I think a bridge in some little town that only gets local traffic is exactly the kind of unproductive investment a sound money standard will kill. Imagine how that project gets built today. Massive debt issuance by the state, or taxes on people who will never use the bridge. I see the fact that these projects under a Bitcoin standard either don't happen, or get fronted by a wealthy local benefactor, as a really good thing. I don't want my taxes and the inflation of my savings building bridges in Podunk Missouri. Let's use that to build SMR's or desalination plants or something really worthwhile. npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr The project might not be a good allocation of resources. Under a sound money standard, that becomes obvious quickly. If it can't produce enough profit from tolls to repay the loan, it's a poor use of resources. The market is telling you that people value something else more than they value the bridge. Maybe adding a second ferry to reduce the wait time is a better allocation of resources? We've been brainwashed by fiat economics to see any infrastructure or any business that "makes money" as productive. Without the ability to finance those things through inflation by issuing debt, only projects that provide a lot of real value will be able to get financing. Anything else will have to be paid up front, by someone who values the project for other than purely economic reasons. npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr Under the current system, the interest for loans comes from new loans. That's why M2 only goes up to the right, and any pause collapses the entire financial system. That's a consequence of the debt/fiat system based on the fraud of usury, where banks charge interest to loan out money they don't have. Imagining a Bitcoin standard is tough right now, because we're in a brief blip with Bitcoin rapidly appreciating in value as in gets monetized. Eventually that process slows down and stops. At that point Bitcoin deflates at the rate of economic growth. That's a lot slower than the current value appreciation. At that point loans become possible, as long as it's for a genuinely productive use that beats the overall rate of economic growth. Loans don't go away, but massive misallocation of capital does. npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr Another good reason to avoid centralized platforms, for both posting and reading. https://m.primal.net/Iock.jpg https://m.primal.net/Iocn.jpg https://m.primal.net/Iocp.jpg https://m.primal.net/Iocr.jpg https://m.primal.net/Iocs.jpg npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr Charging interest will always be attractive to those making the loan, as far as I can see. The difference is that under a sound money standard, paying interest on unproductive debt becomes completely untenable. This is partially a result of misunderstanding what money is. Debt as money is a terrible perversion of the concept of money as a ledger of deferred consumption. A sound money economy makes a lot more sense once you start thinking of money as equity, rather than debt and fiat. If you had to take out a loan of Exxon shares and repay it in Exxon shares + more Exxon shares, the bar for profitable use of debt goes up. https://open.substack.com/pub/f0xr/p/money-as-equity?r=3i492j&utm_campaign=post&utm_medium=web npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr Why progress has become impossible https://m.primal.net/Ilfe.jpg npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr Chest high now, pushing up past the cover crop residue, but it needs rain soon. #note1kzm…fpg3 https://m.primal.net/IlBJ.jpg npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr Ten days from knee high to chest high. It's sucking up a ton of water right now, and no rain in sight, so time to irrigate. #note1z9u…ay3k https://m.primal.net/IlBE.jpg npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr Corn needs a drink today https://m.primal.net/IlAu.jpg https://m.primal.net/IlAx.jpg https://m.primal.net/IlAy.jpg npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr You mean off road or "off road"? https://m.primal.net/Hztn.jpg npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr Another reason being poor is generally a bad strategy. #note1jdx…hgh6 npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr "democracy" https://m.primal.net/IjkI.jpg npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr No matter how much you hate journalism, you don't hate journalism enough #note1t70…4tnk npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr Thank you friend npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr I remember https://m.primal.net/IicB.jpg https://m.primal.net/IicC.jpg https://m.primal.net/IicD.jpg https://m.primal.net/IicE.jpg https://m.primal.net/IicF.jpg npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr I remember https://m.primal.net/Iibu.jpg https://m.primal.net/Iibw.jpg https://m.primal.net/Iibx.jpg https://m.primal.net/Iiby.jpg https://m.primal.net/Iibz.jpg npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr THANK YOU! This is such a foundational misconception, it's quite literally destroying civilization. So far you and Parker Lewis are the only ones I've heard who seem to really grasp the significance. It frustrates me so much, I wrote my first Substack post on exactly that topic. Hopefully people will start grasping the truth about money and wake up to the slavery they're supporting by holding dollars instead of Bitcoin. https://open.substack.com/pub/f0xr/p/money-is-not-wealth?r=3i492j&utm_campaign=post&utm_medium=web npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr Just another lying sack of shit politician... "No NATO boots on the ground in Ukraine" Different century, same lying, pathetic weasels. https://m.primal.net/IguB.jpg npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr People don't understand money flows. Money doesn't "flow into" Bitcoin ETFs or anything else the way people imagine. That's why the people using that irrelevant data to predict prices end up being wrong over and over again: they don't understand the cause and effect of money flows and prices at a fundamental level. https://open.substack.com/pub/f0xr/p/money-doesnt-really-flow-into-anything?r=3i492j&utm_campaign=post&utm_medium=web npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr https://m.primal.net/IfwF.jpg npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr This is way too accurate... npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr "We have to impoverish the country to send billions to Ukraine. No? Why do you hate freedom and democracy you fascist Nazi Putin-lover?!!!" -no sane person ever #note19f0…vqk4 npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr #photostr https://m.primal.net/IdGC.jpg npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr Great stuff and amazing to see the realization hit. He does make one mistake though, saying that real estate rises in value because of currency debasement. He's conflating value and price, something even Warren Buffett figured out. I address that exact point in relation to real estate in a recent post. "Second, just because houses are rising in price doesn’t mean they’re rising in value. It’s a simple concept, but one most people miss. Like Warren Buffet says, price is what you pay, value is what you get. If you buy a house today for $400,000, and in 10 years that same house sells for $700,000, how much did the value of the house change? The price went up, but the house is still the same house in the same location, it’s just a decade older. And a decade of wear and tear is a decrease in value, not an increase. Think of it this way. You can sell for $700,000 and you have $300,000 of “profit”. But if you want the same house back, you can’t buy it for $400,000 again and pocket the $300,000. You can only get the same house back for the full price you received. You haven’t increased your purchasing power at all in terms of housing with that “profit”. Your house hasn’t become more valuable, your money has just become less valuable when measured against houses. In that sense, you probably can’t increase your purchasing power by buying a house to live in, but you can at least avoid losing purchasing power. If you just save money in the bank to buy a house later, house prices will probably rise faster than you can save. That’s especially true if you’re paying rent at the same time. At least with a mortgage, if you pay long enough you own a house eventually. You can pay rent your whole life and you’ll still own nothing at the end." https://open.substack.com/pub/f0xr/p/the-mortgage-cheat-code?r=3i492j&utm_campaign=post&utm_medium=web npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr Absolutely correct. The process he's describing where the economy grows, while the quantity of money stays the same, is the deflationary force of growth and technology. When that happens with a public company, their stock price rises and all the holders of the stock are rewarded and it's a wonderful thing. But somehow when it happens in an economy, and prices fall, and holders of the currency are rewarded, economists are horrified and central banks step in with oceans of new money to prevent the disaster. We aren't allowed to view money as having the same properties as equity, because the banking system is built on a lie, and deflation exposes and collapses that lie. https://open.substack.com/pub/f0xr/p/money-as-equity?r=3i492j&utm_campaign=post&utm_medium=web npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr Ah okay, I'm probably just misunderstanding your comments. "Governments don't need fractional reserve banking." "The fed could dissappear tomorrow and the treasury could still issue debt. It would merely have to be paid for by the savings of individuals, companies, funds, banks, etc.. This is 100% possible without fractional reserve banking and could still be the case on a bitcoin standard in fact." npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr That's cool, I feel you. 1. Semantics. The Fed is a banking cartel, the banks/ primary dealers and the Fed are functionally the same entity. The fact that banks have to "by law" buy the Treasuries first, before turning around and flipping them to the Fed at a profit, makes zero functional difference in the effect of the debt monetization. 2. Most. Again, semantics. If it's not essential to keeping the system going, why do they do it? Why devalue the dollar by 40% in the early 30s? Why remove the ability for individuals to redeem dollars for gold? Why YCC in the 40s? Why manipulate the gold price in the 60s? Why remove the final link to gold in the 70s? Why the money printing in 08? Why continue printing for almost a decade? Why more printing in 2019? Why print trillions in 2020? It's not the debt bought by individuals, foreigners, etc that's relevant. It's all the "emergency" liquidity injection. Every item in that list was some version of liquidity injection, financial repression, or the equivalent designed for the purpose of keeping the banking system propped up so they can keep the Treasury propped up. If the Treasury wasn't dependent on that system to indirectly finance their fiscal incontinence through inflation, I could see your point. But it's either that, or the Treasury prints it directly. The outcome is the same either way, except for the size of the bankers' cut. The Weimar central bank "discounted Treasury bills" too, instead of letting the Treasury print it directly. Didn't save them in the end either. Sure the balance sheet shrank as debt rose. Reverse repo also got sucked down from 2 trillion to almost nothing. You think reverse repo goes to zero, Fed balance sheet keeps falling, and government debt keeps rising at 2-3 trillion a year? My guess is no, I expect the Fed balance sheet to double from here by 2030. 3. I'll wait to see the US government run $2.8 trillion annual deficits and borrow Bitcoin at under 5%. You can't borrow hard money at interest for non-productive purposes. You'll get wiped out so fast your head will spin. The US government will be no exception. That's my opinion, we'll see how it plays out. npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr When the Fed creates new base money, that IS the savings of individuals and companies. It's their savings being involuntarily diluted away by an increase in the base money supply. If the Fed disappeared, the Treasury could issue debt, but what would it be denominated in? The dollar base settlement layer is an SQL database at the Fed, and the Federal Reserve Notes in people's pockets. Without the Fed, who's going to issue dollars? The Treasury would have to do it I guess, which would make the question obvious of why they bother with the charade of issuing debt in the first place. So the Fed can print within reason, but not really because they can't allow inflation? But if they do print it doesn't matter and has zero effect on the global economy and doesn't cause inflation? Can't quite square that circle personally. If it's just a number, why bother? Why not do what you suggest and let individuals buy the debt? At what price would they be willing to buy? 15%? 50%? When the Fed create smoney to buy Treasuries, by definition the money doesn't stay at the Fed. The Fed gets the debt, the Treasury (eventually) gets the money. And they spend every penny about as soon as they get it, so then it's in private hands, driving up prices. npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr It takes a special kind of willful blindness to look at a rock with some chips taken out and say that proves it was a tool made by human intelligence, then look at a planet teaming with life that's complex, orderly and functional beyond our ability to understand and say that's obviously the result of random chance processes. npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr The US government ceded control over issuance of their currency to a private banking cartel 111 years ago. The US government issues debt, but they're at the mercy of the private banking cartel to create the currency to buy that debt. The banking cartel always has their back, but at a price: the corrupt bankers own the corrupt politicians. So in effect the government always gets what they need, but that's mostly because they're just empty suits acting a part in the banking cartel's dog-and-pony show. npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr If you only have 2 Benjamins in physical cash, you probably don't understand the banking system very well npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr Cash is the only self-custodial fiat. You can say that doesn't matter, it's still fiat. But it does matter, because it protects you from significant risks, and holding cash weakens the fractional reserve banking system and accelerates the collapse of the fiat scam. Everyone should make an effort to hold their emergency savings, 3-6 months at least, in physical cash. Keep the bare minimum required for transactions in the banking system, and of course long term savings in self custodial Bitcoin. npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr It's a lot harder for them to enter huge amounts of debt without fractional reserve banking... npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr Yup, June 4 and it's well over knee high, looking nice and green but a little on the dry side. Hoping for rain today 🤞🏼 otherwise it'll need some irrigation in a few days. #note1l2q…jcae https://m.primal.net/IZpD.jpg npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr https://finbold.com/u-s-banks-on-brink-of-collapse-517-billion-losses-threaten-63-banks/ checked and kek'd npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr Can civilization survive demographic collapse? https://m.primal.net/IYVC.jpg npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr Absolutely, I definitely haven't made it to the covent lifestyle yet lol, too many bills show up every month. But it does help me keep the material world in perspective sometimes, especially when things don't go the way I'd hope. npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr Could we dare to hope that nature is starting to heal? npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr That's debatable. But even if it were true, how effective is a morality with no weight other than an individual's personal opinion? How would you cross the can/should gap and say, make a law or prosecute an evil act on the basis of a personal opinion? Is a morality effective when an evil person can eliminate the foundation of morality with a single bullet? Because history proves they won't hesitate to do exactly that. npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr Yeah, when I first read the explanation of how long 52! seconds is, or how long it would take to get the same sequence if you shuffle the deck every second, it blew my mind. "Set a timer to count down 52! seconds (that’s 8.0658×1067 seconds) Stand on the equator, and take a step forward every billion years When you’ve circled the earth once, take a drop of water from the Pacific Ocean, and keep going When the Pacific Ocean is empty, lay a sheet of paper down, refill the ocean and carry on. When your stack of paper reaches the sun, take a look at the timer. The 3 left-most digits won’t have changed. 8.063×1067 seconds left to go. You have to repeat the whole process 1000 times to get 1/3 of the way through that time. 5.385×1067 seconds left to go. So to kill that time you try something else. Shuffle a deck of cards, deal yourself 5 cards every billion years Each time you get a royal flush, buy a lottery ticket Each time that ticket wins the jackpot, throw a grain of sand in the grand canyon When the grand canyon’s full, take 1oz of rock off Mount Everest, empty the canyon and carry on. When Everest has been leveled, check the timer. There’s barely any change. 5.364×1067 seconds left. You’d have to repeat this process 256 times to have run out the timer." Absolutely mind-bending. And that's just 52 playing cards. npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr You mean how people think a shuffled deck of cards is a random sequence, but if you just shuffle it enough times you'll get the same sequence again? npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr That's not wrong, and enjoying what you can while accepting what you can't control is a good strategy. The flip side is, that's probably the best strategy anyone can use from a materialist perspective. But in the end it still doesn't manage to provide real fulfillment and meaning in life. npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr An opinion doesn't provide the basis for an effective morality. npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr A mutation is disorder introduced into an already existing, orderly genetic sequence. It doesn't explain how the genetic information got there to begin with, and it's actually moving in the wrong direction, toward rather than away from disorder and death. npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr Over time, the complex patterns of living things invariably degenerate into the chaos and disorder of random chance. In no case does more time applied to inanimate objects cause them to somehow acquire information, become more complex, and make the transition from inanimate object to life. Yet we see life all around us. Where did it come from? npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr 🤔 https://m.primal.net/IVbo.jpg npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr Imagine my surprise #memes https://m.primal.net/IVbk.jpg npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr Kind of sticks a pin in the whole "goo to you" narrative doesn't it... npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr Solomon says something similar in the book of Ecclesiastes. But if you read the whole book, which you can because it's short, he's describing different stages of his life and all the things he tried to find meaning and satisfaction. Now being a king who was rich beyond belief and had hundreds of wives and concubines, he really did try everything lol. And in the end he didn't find satisfaction in all the hedonistic pleasure the world had to offer. So that's at least one man's opinion on living a fulfilling life. For whatever it's worth. npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr Not thinking of this part I'm assuming? Then he told them a story: “A rich man had a fertile farm that produced fine crops. He said to himself, ‘What should I do? I don’t have room for all my crops.’ Then he said, ‘I know! I’ll tear down my barns and build bigger ones. Then I’ll have room enough to store all my wheat and other goods. And I’ll sit back and say to myself, “My friend, you have enough stored away for years to come. Now take it easy! Eat, drink, and be merry!”’ “But God said to him, ‘You fool! You will die this very night. Then who will get everything you worked for?’ “Yes, a person is a fool to store up earthly wealth but not have a rich relationship with God.” npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr A reader made over $4,000 of risk free money their first week using the method in my latest article. Why haven't you taken advantage of this opportunity yet? Is sports betting still illegal in your state, or do you just hate money? f0xr.com https://m.primal.net/IVZo.png npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr Why do you have human flourishing as a goal? npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr https://m.primal.net/IUGp.jpg npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr This is not a new idea. In the Soviet gulags, the common thieves and criminals got preferential treatment and consideration, and in many cases were practically running the place. That's because they were considered "socially friendly elements", unlike the political prisoners who might get decades of forced labor on false accusations from a jealous neighbor or criticizing communism in a private letter. The constant rewarding of thieves and looters while demonizing and persecuting political opponents shows that these people are just rebranded radical Marxist. Because of people like this, the US becomes more like the Soviet Union every day. https://m.primal.net/ITBv.png npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr You could debate whether school is the best format to teach reading, writing, and basic arithmetic. You'd be hard pressed to argue that everything beyond that has degenerated into the kind of feminized nanny state brainwashing that borders on abuse, particularly for boys. Less schooling and more real world experience, on-the-job training, and as-needed career-specific higher education would be a huge improvement. #note1vp4…uzqa npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr UFC fighter Bryce Mitchell 🫡 https://video.nostr.build/c3c93bf22e771236d43e6a3fd62dd45418604da00ebecfc57fd1446e3d7d58e7.mp4 npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr The problem is that algorithms "improve" the user experience. Maybe it's just perception, maybe it's unhealthy, but it engaged people's attention whether they like it or not and that's what keeps them there. And most people don't care about the corporation, they don't relate to them directly so it doesn't really matter. And most people are consumers through and through. I never realized this in the past because my sales resistance is level 100 and I'm as far from a consumer as it's possible to be. But interacting with normies, their life really revolves around how to get the money to buy the next thing they saw on social media. Whether it's a blatant ad or a "lifestyle influencer", the stuff that makes me cringe in disgust is like cocaine to them. They buy into every latest marketing trend every single time. If it isn't on their social media, they'll go looking somewhere else until they find it npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr 🤮 npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr I decided to write about something a little different this week. If you're in or near a state with legal sports betting (30 states now), you can get thousands of dollars in free bets and bonus offers just for signing up to different sports books. This is a complete, detailed, step-by-step guide, illustrated with lots of screenshots, showing exactly how to turn those offers into cash with no risk, and no prior experience or knowledge about sports or betting. Check it out! It's free money, and you might as well use it to stack some sats. If you have any questions or anything is unclear, reach out to me here or on Substack and I'll do my best to help you. Don't sleep on this one, people. Not only can you make thousands yourself, you can repeat that with every member of your family and friends, and split the profits. It's a great opportunity to pick up some extra cash on the side with very little effort. https://open.substack.com/pub/f0xr/p/sports-betting-bonus-offers-for-dummies?r=3i492j&utm_campaign=post&utm_medium=web npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr https://m.primal.net/IPjG.jpg npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr note1hjgygm7qywfq984sp3jhpc33l3v6m97lhqfnrkrqp6cg4sntjdcsfvhpw4 If people are still using barter, that's fine, they don't need money. If they do need money, I'm suggesting e-cash could be converted into PHYSICAL CASH. I don't know how to be more clear, you don't seem to be reading my words. PHYSICAL CASH. PAPER BILLS. I'm not suggesting an African grandmother needs to buy a smartphone. You're the one implying that e-cash isn't worth developing because you need a smartphone to use it. I'm the one arguing you might not need a smartphone to use it. npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr What concepts? I'm talking about physical cash, paper banknotes, Benjamins. You're saying people without Internet don't understand the concept of cash? I don't have a patronizing attitude toward people just because they aren't able to access or afford modern technology. People all over the world know how to take advantage of USD cash. If they had access to BTC cash that held value against their local fiat scrip as well as or better than the USD, and was also universally accepted by local money changers like USD cash, I'm sure most people would be capable of grasping that concept. npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr Having the same issue 😢 npub1h3kv6yar972dxetymty0t936p45utq7fj6p5rw7ly79jrafsnrjqvuwlmn f0xr Disagree with your premise on convincing poor people to continue living poor. Don't see how e-cash isn't a big step forward in connecting the unbanked to Bitcoin. It's accessible to anyone with a smartphone, which is a huge and rapidly growing population. Besides that, e-cash seems like the solution to physical cash on the Bitcoin network, for those without Internet access. I'm not technical enough to design it, but the fact that e-cash can transfer offline with a QR code means the QR code could be printed on a physical note and transferred person to person. I'm imagining some system of printing the QR code in a way that couldn't be scanned without permanently destroying the note. That way it could be used peer to peer without an internet connection and as long as the note is intact the e-cash is valid. But anyone with an internet connection who wished to could destroy the note, scan the QR, receive the e-cash, and redeem it for self custodial Bitcoin at any time. Something else for @npub12rv…85vg to create in all his spare time 🤣