Comments by "Wandering Existence" (@WanderingExistence) on "Why The Government Has Infinite Money" video.

  1. Would recommend the book Debt: The First 5,000 Years by David Graeber it explains the history of money/ credit and why the US debt is functionally never going to be fully repaid. E: I just finished the book, so feel free to ask any questions 😝
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  2. Taxes doesn't really destroy money, it shifts it. Repaying loans decreases the money supply though by decreasing the fractional reserve system.
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  3. ​ @AKguru762  If the itching decreases with hydrocortisone, it's a bug bite, but if not just use some lotion to hydrate your skin ✌️
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  4. Taxes fundamentally serve the purpose of making the money worth anything at all. Taxation creates money's value by creating a demand for a type of metal or paper with a special stamp on it. Money is a debt, because it has to be paid back to the government at some time via taxation. Source: Debt, by David Graeber
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  5.  @talitek  An omelette with a mix of culinary vegetables, like spinach, peppers, mushrooms, and avocado, with a side of fresh fruits 💪
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  6. ​ @TiberionMarivallis  Idk what country you're in or how the Central Bank works there, but in the United States the IRS takes in tax revenue and only destroys the money when it pays off US bonds. If the government spends the tax dollars, the money is just recirculated.
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  7.  @therobotjesterz  The Magic 8 Ball says "Better not tell you now" ... that's probably something you only learn when you die 💀
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  8.  @helpanimals-  I was just offering a resource for a more through academic explanation of the social fiction of debt and money, from a well respected anthropologist and socialist. Doesn't hurt to have multiple sources.
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  9. Is it really a deficit though when violence props up the monetary system?
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  10.  @TiberionMarivallis  What do you mean by 'scripted money' vs 'central bank money'?
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  11.  @Praisethesunson  It was a another gross instance of Capital Bias, where return to capital is prioritized over human well-being. That first chapter has a good chisel into the notion of "Debts HAVE to be repaid", as it examines the ways in which debt is used to subjugate through its institutional violence. The situation in Madagascar was bad, but I personally found unimaginable horror the history of Haiti being rendered poor because France made the Haitian's repay a debt for rebelling against the slave/plantation system and "stealing" French property. 122 years of debt, and the last 25 years of payments were transfer to the US investors that would become CitiBank. So much suffering on the back of a forced debt (in retaliation for seeking freedom) and its compounding weight. France enslaved Haiti twice, once with bondage and then with bonds.
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  12. Here's the chapter on how violence backs up the US dollar and debt https://youtu.be/c4FzOyvGabg?si=yWtOEBOK5C9nLHq9
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  13. ChatGPT Is At Capacity
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  14.  @Florianmunz  I liked the free audiobook. Happy learnings ... Ya know, except for all the slavery stuff.
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