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Joined 1 year ago
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Cake day: July 30th, 2023

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  • I can lend money to others without them as middlemen

    Private banks are highly regulated businesses to avoid fraud and maintain the trust and stability of the financial system. They also play a key role in the creation of money supply. Banks literally create money when they issue a loan, something no other business can do.

    and at the same time they seem to suggest that having money in banks is not risk-free

    Because it isn’t 100% risk free: your bank can default and if your cash balance exceeds the amount that is insured by the government you can lose that excess.

    The central bank cannot go bankrupt because it issues its own currency. You could experience the effects of inflation, but you would be protected from bankruptcy.

    That’s why authorities are concerned about allowing citizens to hold their savings in central bank accounts.



  • You do you. A professional will ask you to move all your furniture, spray insecticide everywhere, come back two weeks later to repeat the same process again to kill the newly hatched eggs, and tell you that it is quite likely that the bugs will come back, so further rounds may be needed.

    Diatomaceous earth pops up on every discussion because it works. Bugs gone in a couple of days, because D.E. sticks around to kill any larvae that hatch over the following weeks.



  • This is the key worry of governments with cryptocurrencies, and was the main selling point of them initially, before the whole crypto tech bro hype.

    Yep. Arguably Bitcoin arose from the 2008 financial crisis and the following bailouts.

    What I’ve never understood about it is that it seems so unlikely that it would ever replace a national currency, for two simple reasons. First, because taxes owed in a country can only be repaid in the national currency. Second, because government contracts will only ever pay in the national currency, from macroprojects, to maintenance contracts, to millions of civil servants. This creates both a ton of demand and a ton of supply for the national currency.

    And that doesn’t even take into account the role of the central bank and private banks in the money supply. Being highly regulated, there’s zero chance that a private currency would ever be legally allowed to take hold there either.

    Central bank digital currencies appear to have very little to do with crypto currencies like Bitcoin. Rather, they appear to be a mechanism to surgically induce economic stimulus when and where desired, like a more controlled version of the stimulus checks that we saw in many countries during COVID.

    For example, they could directly credit your digital currency account with a certain amount of money that you are only allowed to spend on certain goods and services and for a limited amount of time. This would ensure that the money is spent and stimulates certain economic aress rather than being hoarded or invested.











  • I’m all for letting people wear whatever they want. What is the harm?

    Here in Canada I’ve seen police officers wearing turbans. Works for me. Nude beaches? Sure thing. I’ve seen people in my neighborhood wearing Saudi-style niqabs and Afghan-style burqas.

    Who am I to tell people what they should or shouldn’t wear? How could it be my business?

    I’m also for people burning the Qur’an if they so please. Or the bible, or the rainbow flag, or the national flag if that’s how they want to protest. Ideas are there to be challenged.

    I draw the line at threatening or harming people.


  • “The bill will make it punishable, for example, for people of the same sex to kiss in public. It will only aim at actions in a public place or with the intention of spreading in a wider circle,” Hummelgaard said

    I agree with Hummelgaard. Those “protests” are used to create hatred. Even though it is also for me not comprehensible how people can be so sensitive about this, we all know the reaction it provokes. And even though we don’t agree and comprehend those feelings, we can still respect those feelings and just not senselessly create disruption. And hey… You can still kiss as many people of the same sex in private as you want.

    This isn’t an exaggeration: a few weeks ago in Ottawa we had anti-LGBT protests where rainbow flags were burned down – guess who was there? And while many of us were offended and appalled, nobody was threatened or beheaded in response, and we didn’t have politicians trying to pass a new law forbidding the burning of rainbow flags either.

    The whole point of this is that in Europe we have fought for centuries in order to establish liberal democracies where freedom of speech and the separation of church and state are enshrined. We must not appease extremists who achieve change with threats of violence. There is a name for that.

    In a democracy the act of burning a book, or a flag, is a canary in the coal mine: you know there is trouble when it dies.

    The message is simple: we don’t threaten people who have different ideas.