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Comment by lottin | Hacker News Reader

They think that government is tyranny, therefore lack of government is freedom. Yes, they are dumb as hell.

More likely they think government monopoly over money is a form of tyranny, or that unchecked government power is tyranny.

See:

Civil forfeiture: https://en.wikipedia.org/wiki/Civil_forfeiture_in_the_United...

Executive order 6102: https://en.wikipedia.org/wiki/Executive_Order_6102

Greek austerity measures (which include the reduction of social welfare and benefits due to incompetence of government spending): https://en.wikipedia.org/wiki/Greek_austerity_packages

And the most important consequence, hyperinflation, often caused by central banks and governments: https://www.investopedia.com/terms/h/hyperinflation.asp

The illusion of security and stability is a very nice fantasy to live in. The price of everything you bought went up ~7.5% in the last year, the debt grows perpetually higher with no plan to ever pay it off, housing and stock market bubbles continue to grow, and this is totally normal and sustainable.

What I was saying... the government doesn't have a monopoly over money. The whole crypto narrative seems thought out by people who don't have a clue about how things work and have zero real-life experience.

> the government doesn't have a monopoly over money

Who is determining our monetary policy then? Who is setting interest rates? Where does the money for a trillion dollar stimulus package come from?

> The whole crypto narrative seems thought out by people who don't have a clue about how things work and have zero real-life experience.

Right now I'm questioning how much you understand about what money is and how it works.

> Who is determining our monetary policy then? Who is setting interest rates? Where does the money for a trillion dollar stimulus package come from?

I don't know... does the answer to any of these questions suggest to you that the issuance of currency is a government monopoly? If that's the case, you should probably start here: https://en.wikipedia.org/wiki/Monopoly

Yes, controlling the world's reserve currency and forcing others to adopt it fits the definition of monopolizing money.

You should probably start here:

https://en.wikipedia.org/wiki/Bretton_Woods_system

https://www.thebalance.com/what-is-a-petrodollar-3306358

https://www.investopedia.com/terms/r/reservecurrency.asp

Q.E.D.

What's so dumb about the idea of wanting to be responsible for your own outcomes? You make a stupid mistake, you suffer, nobody else does. If you don't want take responsibility for your own actions, feel free to stick to the mainstream financial system. Note however that as a result of that you'll be on the hook for bailing out other people's stupid mistakes when they fuck up, like how the taxpayer bailed out banks that made stupid loans during the GFC.

With that kind of attitude, how are you going to get more people to come in and provide you with exit liquidity?

They forget, freedom to be screwed is also freedom

I don't think anyone actually forgot that. It's kind of the point.

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