2008 called and wants it's stupid fucking ideas back.
this post was submitted on 26 Jun 2025
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It is far worse. Like the end of the dollar having any value sort of economic destruction.
A cryptocurrency wet dream idea to make dollars worth zero and fuck everyone not in the ownership class…
I mean that's pretty much the entire current plan of this administration
How is that different from using dollars?
Capitalists are already doing this with dollars and other forms of currency. Crypto is just one more scam just like money.
One of the actual valid reasons for a government is the regulation of a standard currency established via political policy and regulated by the rule of law.
Wildcat currencies only harm the most vulnerable and benefit the most wealthy.
Yep, cryptocurrencies are no more worthwhile than scrip, in-game tokens or Monopoly money.
unregulated currency is an unlabled casino
"One of the actual valid reasons for a government is the regulation of a standard currency established via political policy and regulated by the rule of law".
Said the libertarian
Do you not see the contradiction of your political beliefs?
Anarcho-capitalism is not an actual political ideology. It is a contradiction of two ideologies.
AYN RAND WAS A FRAUD.
AYN RAND WAS A FRAUD.
That implies she was deliberately deceptive. She was a crank, who believed her own bullshit, until it became inconvenient to do so.
And, despite libertarians' efforts to hijack it, state-managed currency has bugger-all to do with their defective, half-baked theories.
Library-socialist actually.
Odd that you think that a standard medium of exchange in a resource bound economy is a libertarian idea given that it predates capitalism and liberalism by more than a millennium.
Turn your fake money and turn it into valuable assets the poor can't afford with their real money. Then simply rent out the property too the poors for twice the average family income.
I remember liar's loans and how much they contributed to the 2008 crash.
Now Trump and his gang are mandating that kind of chicanery?
Can the consideration be "this person makes poor financial decisions"?
The thing with cryptocurrencies is, if you create it out of thin air, mine it, hawk it or hoard it, you're a "crypto investor" - i.e. a swindler - and you can be said to be making good financial decisions - albeit not very moral ones - since you're probably making money out of the scam. However, if you buy or spend crypto and you think it's an honest alternative to traditional currencies, you're clearly a mark.
This mortgage thing puts anybody who goes for it squarely in the second category. Nobody who's in on the scam would do it.
Yes please I’d like to apply to take out a loan for $1 million using this picture of an ape.
It’s like they want to be scammed on purpose.
I have here a genuine, unique string of digits (I know it is, at least am nearly certain, it's a GUID).
You know what it's worth? Whatever some sucker will pay for it. Same as NFTs.
"The agencies were also instructed to consider other modern non-dollar assets such as Pokemon cards and Beanie Babies" /s
I'm going to qualify for a $2M mortgage with my pogs as collateral.
Nice humblebrag. You don't need to use the plural of pog in your post here when you only have a single mint condition Alf pog as your $2M asset.
Pretty soon I will be able to use my boardgame collection as collateral for a mortgage.
I'm sure that linking real estate assets to a volatile currency will totally work this time.
"25th time is the charm" they say.
Is anything stopping them at considering those assets, and valuing them at zero?
Well I’m urging them to do no such thing and I’m also urging whoever urged them to go ahead and fuck off.
Banks should consider anyone with heaps of crypto as easily duped.
I have a Trump trading card I want to use as collateral. Also, several old freezer burnt steaks in my freezer should cover all of the fees.
Lmfao what the shit is happening this is wild. It’s like they just decided to find all the ideas that are dumber than what started the 08 recession, and use them.