that's someone elses problem

i'm not sure if it is my taxes

isn't TFL paid for by london taxes

it depends what you consider "in London" or my taxes

like do you mean money as in the capital I paid, if you could track each penny I paid and where the psyical unit goes, or if money for things that I should be paying for were diverted to go into london improperly

because if you mean like, the psyical unit that I paid, probably

yeah, well, in that case, the psyical embodyment of capital that I paid going somewhere else doesn't really matter to me

as long as the money on the spreadsheet that I paid is correctly used

then I'm ok with that

like if some how TFL got their hands on my council tax money I'd be annoyed

(being in Bucks, and not in Greater London)

well, again, that depends what you consider taxes to be

if it's me paying into a system for my use of the system, then you'd be asserting that everyone who says "our money" in reference to gov spending is being a fucking idiot

then I could almost get behind that, but it is common money

oh yes

we're just using them as fancy credits

but the value that they represent is owned by me until I trade them

thus, mine

and you do no trading with taxes

so still mine

it is not representation of gold anymore

it's fiat

it's value is in that which we give it

https://www.investopedia.com/terms/f/fiatmoney.asp

it's value is that which we say it has

if I say it's a currency, it's a currency

currency != money != valuable

all of these things are indy from each other

mmhmm

well, they do have some backing, because they do hold gold and silver etc

but it's not directly backed

so, it's value isn't tied to the thing

The idea is you have something which has a limited supply, so you can have an idea of the amount of it out there

and can use it to trade with others and everyone knows how much it's worth in x thing

the reason we use(d) gold in the past is because it's limited on this planet and the extraction of new gold is hard

@James Rimor are you trolling me or seriously asking?

not that i'm mad if your serious

but are you serious before I put effort in here

^ to stop stagnation

nah, dw, no stupid questions

yeah, sometimes people saving money is stupid

because when money stops moving the seats get taken in the ever going game of musical chairs

no

the problem was all they bet more money than we had in the system

imagine everyone in the world bets £1m

and how much that would actually be in real money

same thing

but it was banks

so when it went to shit, everything went to shit

and money stopped moving

no, that was a lower level problem

oh wait, what are we talking about here

the banking crisis or current things?

@Weez anyone with more than a few hundred grand don't really have that money

what I just said

no

banks had more bets than they had money

and the amount of bets overall were more than anyone had

so imagine we have a world with $100 in cash capital in circulation

and we have the current level of population

to simplify

now imagine we have as many banks as we do, organising as many loans and mortgages

to start with, banks use franctional reserve to invent new money as debt based on their reserves

that means the amount "spent" is more than we actually have attributable to people

which means, if anything fucks up and stops the moving of money, the whole house of cards fall

lets not talk about that rn, because it goes onto the topic of business rather than pure money movements

so, here we already have 150% or more of capital moving than we actually have as a world

so before we go deeper, if we stop, there's going to be someone left without money, because some of the money will not be there

because remember, 100% is what we ACTUALLY have

if you then go further, and look into a thing called mortgage backed security which allowed banks to package up massive amounts of mortgages as a assert and investment tool

which just had shit thrown in them

just awful securities

then third parties started betting on outcomes of the security

would it fail (short) or would it go fine (long)

and then you have third level, fourth level, etc etc etc

deeper and deeper

soon you end up with hundreds of % points more being bet than is actually in the system

basically, imagine the power of exponentials, and musical chairs

someone stopped the music

and people were left without seats

then because of that no one would get back up

and play further

well

everything is a lie

the lefties are correct in that everything is an abstraction

they're just incorrect that, then nothing means anything

these things have value and confidence because we say they do

yep, damn straight

sometimes some people get a shit end of the deal

yes

we are in a never ending dance

each side has autism

when the right gets more power again we'll see us in the central ground flip flop and be like "you religion extremists need to chill out"

and then we'll cycle once more

each action has an equal and opposite reaction

i think everyone is fucky tbh

everyone gets the bullet

mmmmmhmmmmmm

cite @Boop / 브파 / C'thUwU ?

would like to read more