Message from @Goblin_Slayer_Floki

Discord ID: 524428079494332417


2018-12-18 00:33:32 UTC  

It would only be a tragedy for the only composition of matter on the planet that has the concept of tragedy.......

2018-12-18 00:53:53 UTC  

"Patreon Banned Sargon Yet CEO Jack Conte Allowed Distribution of Illegal Child Pornography and Laundering of the Proceeds"

2018-12-18 01:47:40 UTC  

Gotta love how Patreon's first response to being called censoring morons that are trying to thought police the internet was to take a small clip out of an enormous video explaining the entire situation and call that "the full context"

2018-12-18 01:48:01 UTC  

Almost as if they're censoring morons that are trying to thought police the internet <:thronk:441701565607444482>

2018-12-18 02:24:48 UTC  

about the Ron Paul piece earlier: I agree with him on the next collapse being worse than 1929 - the fact that the West never really recovered from the last collapse means that any future 'collapse' will be met with massive suffering. Imagine going into a collapse where there are absolutely zero job opportunities except now you're saddled with $50k+ in credit card debt.

2018-12-18 02:30:15 UTC  

Simple: Hold a trade skill, and don't take on debt <:makes_you_think:382980749780844554>

2018-12-18 02:31:40 UTC  

you must not be married

2018-12-18 02:33:19 UTC  

Not yet. That's step 3

2018-12-18 02:34:00 UTC  

then you will enter the realm of massive indebtedness

2018-12-18 02:34:35 UTC  

Why would I? There's zero reason to be in debt, except for owning a house

2018-12-18 02:35:11 UTC  

And if you do that right, it will be worth more than you originally paid for it

2018-12-18 03:25:57 UTC  

because females

2018-12-18 03:27:27 UTC  

I would say real estate/car. But the equity of the house will offset the loss on the car.

2018-12-18 03:28:18 UTC  

Never buy a new car. Only get something you can fix easily, and cheaply by yourself

2018-12-18 03:28:35 UTC  

@nutsnax the issue with that idea is the collapse in 29 included the banks. If we were to repeat the debt would be absolved, as banks dissolve.

2018-12-18 03:29:20 UTC  

@Fitzydog not saying new car, but you raise your credit getting a newer car financed and make your payments. Do it on a short loan to minimize interest with a decent down payment.

2018-12-18 03:29:34 UTC  

Oh yeah, that

2018-12-18 03:29:42 UTC  

And not everyone is mechanically apt.

2018-12-18 03:29:44 UTC  

Tbh

2018-12-18 03:29:57 UTC  

Just like not everyone is technologically adapt

2018-12-18 03:31:09 UTC  

Yea my credit score skyrocketed after i finished paying off my last car, which helped when going for a house.

2018-12-18 03:33:53 UTC  

@Goblin_Slayer_Floki you are probably right, though credit availability and companies' ability to fund operations/expansion would grind to a halt.... inter-bank lending would grind to a halt, the banks would go under with these conditions too I think

2018-12-18 03:34:46 UTC  

Well of course. But the overall debt of the individual would be less an issue if the banks themselves (including credit unions) went under.

2018-12-18 03:35:42 UTC  

Pretty sure people of the late 20s had debts as well. Doubt those factored as they fought to survive. But even in those conditions new things were constructed and so on.

2018-12-18 03:36:43 UTC  

And if such were ever to happen it would be a global catastrophe tbh.

2018-12-18 03:38:16 UTC  

Ron paul for all his great aspects, lacks a lot of forsight, and deeper critical thought i jave noticed. Traits he passed to Rand as well.

2018-12-18 03:38:36 UTC  

^ Not like there would be any owner of the title after a massive meltdown anyways

2018-12-18 03:40:10 UTC  

One major difference between 29 and now. FDIC insurance. So at least before total collapse individuals will retain their assets to certain amount per account.

2018-12-18 03:40:51 UTC  

Assuming there's an FDIC left to even pay out insurance

2018-12-18 03:46:04 UTC  

The FDIC is seperated. And at the very least up till the last bank (fed reserve) falls it can.

2018-12-18 03:46:58 UTC  

So they'll print more money, exacerbating the problem, causing hyperinflation, until the dollar collapses

2018-12-18 03:50:00 UTC  

Not really. Because as banks crash, the money they had flows back to the fed reserve. But the fdic money is already set aside.

2018-12-18 03:50:16 UTC  

In a sense.

2018-12-18 03:50:55 UTC  

And if that's less than required? Idk, I'm just making hypotheticals

2018-12-18 03:52:47 UTC  

I get what your saying. But one of the things about 29. Is as banks fell, the money they had was collected by the central bank, and disposed of. Since we havent had such since the fdic. I assume similar would happen but rather than distruction, it would be shifted to pay out the fdic insurances

2018-12-18 03:53:37 UTC  

It would still effectibely be worthless if that central bank (fed reserve) collapsed.

2018-12-18 03:53:39 UTC  

Fair enough. I just feel like there's more "magic money" than "real money" (even in federal spreadsheets) out there in circulation

2018-12-18 03:54:44 UTC  

And more so if faith in the currency is fully lost. The true value of a currency isnt how much is in circulation, but overall faith in the currency especially compared to others

2018-12-18 03:55:47 UTC  

Yea over printing devalues due to this. But in some cases say the german marcs they never overprinted. The public faith in the currency compared to the prospects of the euro crashed its value.

2018-12-18 03:56:56 UTC  

And then there's the possibility of the Dollar being derated in its credit rating