To the crypto thieves…

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Posted by Cynic | Posted in Bitcoin, Poverty | Posted on 04-03-2014

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I understand that this is a hard world to make a living in. But you’re really hurting a lot of people.

You stole money from a single parent trying to put together a decent life for a couple kids.

You stole money from a dad trying to put food on the table and pay a mortgage.

You stole money from a fellow trying to build a business.

You stole money from a kid trying to save for university and a car.

You stole money from a couple trying their hardest to pay some bills and get by.

You stole money from a mom trying to save and earn some extra for a birthday party and presents.

You stole money from a grandfather trying to create a better inheritance for his kids.

You stole money from an elderly couple trying to pay for medication and make their retirement easier because their pensions were pilfered.

You stole money from people trying to get by, just like you are. Well, maybe not quite like you’re getting by…

Central Banking – A Century of Failure

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Posted by Cynic | Posted in Awake, Bitcoin, Logic, Philosophy, Police State, Politics, Poverty, Solutions to Problems | Posted on 22-12-2013

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The last century has been a complete catastrophe for money/currency. The criminal banksters won in a stealth move on December 23rd, 1913. Since then, they have managed to create more wars and death than at any point in history.

The central banking disease has since spread to almost the entire world. With control of the Iranian central bank now falling into the clutches of the central banksters, it seems only Cuba and North Korea remain, and they don’t need any help in creating misery – they’ve got communism to help them fail there.

But is seems appropriate that after a century of financial terrorism inflicted on the people of the world, that 2013 would be the rise of Bitcoin and crypto currency. Decentralised through a peer-to-peer network, crytpo currencies are faster, easier, and cheaper to use than the worthless digitally controlled fiat printed by the central banksters.

2014 will be an interesting year as crypto currencies consolidate their position as a sane alternative to the destruction wrought by the banks. Major retailers will begin accepting Bitcoins while smaller operations begin accepting Bitcoins and other crypto currencies.

There will be more turmoil as the banksters fight back. They will use the state as their weapon. They will push for regulations and laws. Their arguments boil down to only a few:

  • Terrorism
  • Drugs
  • Child porn
  • Tax evasion
  • Centralisation

They might come up with something else, but it’s unlikely. There is no good reason to not use decentralised crypto currency. Ultimately, it’s about control. And if they lose control of the money supply, they lose their ability to steal from people.

The banksters will use their puppets in government to attempt to create legislation that makes using crypto currency impractical. They will attempt to create new bureaucracies and legal hurdles that make complying with the law either impossible or impractical. They will use the state to attack the people as they always do. They are monopolists. They cannot compete because they have no skill sets that are worth paying for. They require the violence of the state to compel people to their will.

They won’t win. Too many people know what they are – vampires sucking the life blood out of humanity.

We’ve had a century of failure. It’s high time for the demise of the banksters and a century of prosperity. Well, more than just a century of prosperity, I hope. So long as people study what really happened in history, they’ll fight to keep the banksters staked and in their coffins.

Frackin’ Reserve – Compound Interest as Invisible Slavery (5/6)

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Posted by Cynic | Posted in Awake, Banking, Logic, Philosophy, Poverty, Software | Posted on 28-05-2012

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But if you want to continue to be slaves of the banks and pay the cost of your own slavery, then let bankers continue to create money and control credit. — Josiah Stamp

In Part 1 we looked at the mechanics of fractional reserve banking. In Part 2, we looked at money vs. wealth. Part 3 looked at how and why fractional reserve banking is fraudulent, and illustrated how it is structured like a pyramid scheme. Part 4 looked at 2 basic ways in which the system falls apart, either through a run on the banks, or the banks forcing depressions on the people and then stealing their wealth. Here in Part 5, we look at compound interest and how it is an invisible form of slavery.

Compound Interest Mechanics

In addition to simulating fractional reserve banking, the Frackin’ Reserve program also illustrates simple and compound interest. Simple interest is calculated by setting the interest periods to 1, and the compounded method to "Annually". Setting "Compounded" to any other option shows compounded interest, the formula for which is:

Amount = Principal × ( 1 + ( Rate ÷ Periods ) ) ^ ( Term × Periods )

Where:

Amount = the final amount to calculate
Principal = the initial, borrowed principal

Rate = the interest rate as a decimal (not a percentage)
Periods = the number of times to calculate the compounded interest in for the term (e.g. 12 for a term of 1 year when compounding monthly, or 365 if compounding daily)
Term = the total length of time for the loan in years

Interest is an Invention of Satan — Thomas Edison

While Thomas Edison may have pioneered douchebaggery, he was at least smart enough to know just how sinister interest was. And this is another predatory hallmark of fractional reserve banking.

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Frackin’ Reserve – Run on the Banks? Or Run on the People? (4/6)

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Posted by Cynic | Posted in Awake, Banking, Logic, Philosophy, Poverty, Software | Posted on 28-05-2012

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Thus, our national circulating medium is now at the mercy of loan transactions of banks, which lend, not money, but promises to supply money they do not possess. — Irving Fisher

In the last part we saw how float time was fradulently used in fractional reserve banking by banksters the same way that check kiters used to use float time, and we also looked at how float time builds a temporal pyramid structure analogous to a traditional pyramid scheme. If you haven’t already, make certain to read the previous sections as they are built upon here.

Part 4 examines how a run on the bank works, and how banks "run on the people" to cause recessions and depressions.

Remember back to the pyramid in float time and the mainspring metaphor. In the mainspring metaphor, fractional reserve banking gains energy through interations the same way that a mainspring gains energy when wound. Conversely, the unwinding of a mainspring releases that energy, and the same holds for fractional reserve banking; when fractional reserve works in "reverse", it loses energy. That can be visualized on our temporal pyramid:

Fractional reserve banking gaining and losing energy in the temporal pyramid

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Frackin’ Reserve – “How” Fractional Reserve Banking Creates Money and “Why” it is Fraudulent (3/6)

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Posted by Cynic | Posted in Awake, Banking, Logic, Money, Philosophy, Poverty, Software | Posted on 28-05-2012

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When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that glorifies it. — Frederic Bastiat

In Part 1 we looked at the mechanics of fractional reserve banking and the mathematics behind it. We also saw how absurd it could be when trying to divide by zero. Then in part 2 we looked at one perspective of "what is money" and defined it in terms of its relationship to wealth.

It is now time to turn out attention to discovering "how" fractional reserve banking creates money. Once we understand the "how", we can answer the question, "Why is fractional reserve banking fraudulent?"

If you recall the basic fractional reserve banking cycle, it went like this:

The basic fractional reserve banking cycle

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Street Kids in Toorak?

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Posted by Cynic | Posted in Australia, Poverty | Posted on 13-01-2011

Like WTF? Toorak is one of the best neighborhoods in Melbourne. And there are kids living in the alleys here. I just got back after hearing some kid screaming, and there’s no helping there. Well, not for me anyways. I can only extend my hand, but I can’t force help on anyone. The kid is 17 and has been on the streets since 14. Yes, it happens. But in Melbourne’s wealthiest district?

It’s saddening, and depressing. The kid has an entire life ahead, and nothing at the moment to latch on to. Except dealing drugs for a few bucks and what?

Melbourne’s wealthiest district. Street kids included. 🙁