On one hand an exchange medium is necessary to organize complex trade outside of a command economy. On the other hand any exchange medium that can be accumulated in any significant quantity inevitably self-organizes the means to enforce that accumulation through violence.

If we want to live in a world without a state we need to develop an exchange medium that cannot be hoarded because of some intrinsic property of the medium itself.

One last thing: The reason why you can't run off and get WaMu Bucks or Chase Coin is because the British Empire made non-state controlled banknotes illegal in 1844 because the existence of private bank notes was too much of a bother. By fiat, mind you.

... and the rest of the world followed suit shortly afterwards.

It's a cargo cult currency that's being propped up by organized crime looking to (i) cash in on what is functionally a Ponzi scheme while (ii) creating a convenient if temporary exchange currency to help facilitate illegal transactions.

In a lot of ways cryptocurrencies gave crime syndicates the one thing that differentiated them from a 'legitimate' state: the ability to print money. 🙃

Listen, I'm super sceptical about cryptocurrencies. We're basically back to 14th c. levels of regulation except now instead of banks going out of business and no longer being able to honour their notes we have outlaws suddenly realizing that they can't trade their goods and services as reliably anymore using a given exchange medium and going elsewhere to do business.

... thus cutting the bottom out of a major speculation market which will cause an almost overnight crash. Oops.

After decades of state gaslighting meant to convince people that a currency backed by the threat of extreme violence is actually a currency backed by nothing at all (please don't look behind the curtain) something interesting happened:

Someone actually made a currency that was backed by nothing at all and it worked!

... or did it?!

Eventually the dominant empire in the world hoarded so much of the gold that it destabilized the gold market forcing countries that were not the United States to back their currencies in things other than gold, such as other currencies like the US Dollar.

... using fractional reserve banking, of course.

The United States, in contrast, is very to the point and backs its currency with threats of extreme violence.

... again, this is definitely NOT the behaviour of a criminal syndicate.

"We own 50,000lbs of gold but we're going to print notes that are worth 70,000lbs of gold and we will pretend that these entitle anyone to claim the gold. Nobody will notice unless they call our bluff and all try to claim their gold at the same time. This is not a criminal enterprise for reasons of we are rich and we own the government."

The elaborate leaps in logic that modern economics makes to make fractional reserve banking seem like anything other than an enormously transparent scam boggle the mind. It's no wonder they award college degrees for this crap.

misogyny Show more

The rabbis are full of shit: Hell exists and it's a New York subway local train during morning rush hour.

bodily fluids Show more

Being cuddled by my cat in the morning AFTER I've already fed her is the most pure and good thing. :patcat:

The nice thing about political activism is that when you're being woken up at fuck-o-clock after a night of insomnia to go arse around in the mist and cold for a couple of hours you get to work yourself up into a real simmer over the shitfaced assholes who made it necessary to hold a demonstration in the first place.

... bastards.

Some cishet: Why are gays always so heterophobic?? We aren't doing anything wrong to them!

Me:

Why the hell aren't there free public showers?
How are you supposed to say you care what happens to the homeless if you aren't providing this service? We're at a point where "not getting hired for hygiene" is just code for "we don't hire people who aren't financially stable enough already to have their own private hygiene facilities".

The only thing worse than having your take-out order screwed up is discovering that whatever you got is delicious and you have no idea what it is...

use poly-inclusive language. instead of saying

“is your better half coming?”

say

“can we expect one of the many people who is objectively better than you?”

antisemitism Show more

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Queer Party!

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