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Satoshi

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Posts posted by Satoshi

  1. 18 minutes ago, Biff Tannen said:

    Agreed.  That is not what is being proposed.

     

    12 minutes ago, Neonmoon said:

    They make up boogeyman to spread fear and control the stupid. Satan out front should of told you 

    Two excerpts from

    pg 28-29

    7-EBA0249-F180-462-D-899-A-5587-F7-BCEE1
     

     

     

     

    25029475-6-A62-4-D8-A-BA5-F-1-D543-D15-B

    Not sure why y’all are arguing this. 

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  2. 4 hours ago, jimmyjazz said:

    Not permanently.  You missed the "higher interest rate" part of the equation.  The primary goal is to take money out of circulation, via the shift from transactional availability to reserve availablity.

    Again, I'm not advocating for or against the idea, but it needs a WHOLE lot more information to even be judged . . . as in, real processes and projections.  As it stands, it's an academic theory that is a long way from implementation, regardless of her position in the government.

    I don’t think I need more info. A policy that involves concentration of all the cash of Americans into Fed accounts where they can be debited is a nonstarter. I don’t care what high interest they claim will be offered. That is central planning on steroids. No surprise that a communist is proposing it. 
     

     

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  3. 1 hour ago, Knoxtnhorn said:

    @Satoshi @Nice Guy Eddie

    I get all that.  He didn't put much in.  Probably a couple of hundred.  It's just funny because I've been going on and on about how my initial investment has risen by 20%, then, 50%, then, recently, doubled.  He jumps in and it goes down 15% in a day.

    I agree with Eddie. Now that he’s in, suggest he dollar cost average in a little each week or month or whatever. 

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  4. 23 minutes ago, jimmyjazz said:

    You didn't read the article.  It specifically outlined two sub-accounts per individual/couple/household/whatever, one transactional, one reserve, the latter of which would receive a higher interest rate in a  situation in which the Fed wants to contract money supply by reducing the transactional deposits.

    She is not proposing that the government take your money.

     

    23 minutes ago, jimmyjazz said:

    You didn't read the article.  It specifically outlined two sub-accounts per individual/couple/household/whatever, one transactional, one reserve, the latter of which would receive a higher interest rate in a  situation in which the Fed wants to contract money supply by reducing the transactional deposits.

    She is not proposing that the government take your money.

    They would debit your FedAccount. That is removing money from it. This isn’t complicated. 
     

    Did you watch the video? She explicitly talks about the political feasibility of the Fed taking money out of people’s accounts. 

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  5. 27 minutes ago, jimmyjazz said:

    No comment as to the relative merit of the concept, but is it your understanding that your bank accounts are essentially little piles of money that go untouched?  How (or why) would a bank pay you interest if that were the case?

    I’m familiar with fractional reserve banking. The bank where you chose to deposit your money then lending it out is a different planet than everybody’s money has to be with the Fed and it can be confiscated. 

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  6. 14 minutes ago, The Royal We said:

    A shitcoin?  Come on man.  I know you're a BTC maxi/ETH hater, but the ENS governance token is not like f'n shiba or doge.  GTFOH

    Sorry I didn’t mean to imply I was talking about one coin or another. Just that shitcoins can dump harder and ENS has. It’s just a term. Most traders that like them call them shitcoins as well. Don’t take it personally. 

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  7. On 10/27/2021 at 8:29 AM, Satoshi said:

    Cmon man, one of the resident socialists here equated 200k income with buying second homes. You’ve hit the big time if you hit that number. 
     

    In other news, a very curious appointment by the Biden administration to head the Office of the Comptroller of the Currency. Basically bank regulation. They essentially nominated a communist. Don’t believe me? Just read her writings. 
     

    https://en.m.wikipedia.org/wiki/Saule_Omarova
     

    https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3715735
     

    Some of the proposals she highlights. 

     

    (1) Moving all commercial bank deposits from commercial banks to so-called FedAccounts at the Federal Reserve;

    (2) Allowing the Fed, in “extreme and rare circumstances, when the Fed is unable to control inflation by raising interest rates,” to confiscate deposits from these FedAccounts in order to tighten monetary policy;

    (3) Allowing the most Wall Street-conflicted regional Fed bank in the country, the New York Fed, when there are “rises in market value at rates suggestive of a bubble trend,” such as with technology stocks today, to “short these securities, thereby putting downward pressure on their prices”;

    (4) Eliminate the Federal Deposit Insurance Corporation (FDIC) that insures bank deposits;

    (5) Consolidate all bank regulatory functions at the OCC 

    She’s very unlikely to be confirmed due to these opinions, but why on Earth would someone that essentially opposes financial autonomy and privacy be appointed to such a leadership role in our government? These are frankly dangerous positions to every American. 

     

    This communist is having a Senate Banking committee hearing today. I really can’t believe she’s gotten this far. A reminder of one of her most egregious positions. 
     

    A dangerous person. 
     

    Found some nice video of her espousing this nonsense. 
     

     

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  8. 2 minutes ago, Knoxtnhorn said:

    Yep.  And I just got my father in yesterday via Coinbase referral.  I've beennpimping this stuff for 6 months, he jumps in, drop.

    This is why I always tell people when they first jump in to only put in what they can afford to lose, and to only buy BTC or Eth knowing you’re going to hold for a longer period. Having the first buy be a shitcoin that dumps hard is not how you want to start. 

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  9. 9 minutes ago, washparkhorn said:

    Isn't there already a Crypto political thread? Use it.

    ________________

    Back to BTC, is there support at 59? 

    Environmental FUD can and should be discussed here.
     

    Also, different attack vectors are a topic extremely relevant to BTC/crypto. State attacks are a known threat.
     

    We’re all adults here and almost nobody on CR cares about the different consensus mechanisms between different currencies or why government entities would prefer one over the other. The people that care to discuss those topics will be here. 
     

    as for price, a lot of people waiting for 53k to buy some, makes me think we don’t get there 

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