Quote from: JohnDoe on September 02, 2011, 03:46:42 PM

Quote from: steelhouse on September 02, 2011, 06:38:56 AM

"-> I personally think that inflation > deflation."

You must either be a neocon or a democrat. Inflation is never good if you use the coins and don't have any loans outstanding. If your a miner inflation is good because you get to steal off the workers and businesses. If you are a government inflation can be good because it is a hidden tax.

On the other hand deflation is never good for anyone because saving is heavily encouraged so the economy stagnates.

You have $10,000 in the bank and now it is worth more. That is GOOD for the economy. The saver can go to the store and now buy 2 cars instead of one. This is the only reason I am interested in cryptocurrencies, they are like full reserve banking and a gold standard tied into one. Fuck the banks, fuck the people who live on credit, and double fuck the government workers that spend even though the credit limit is hit.

EVERY recession and depression was caused by banks, loans, and or fractional-reserve lending.

http://en.wikipedia.org/wiki/Panic_of_1837 Banks spent money they didn't have and only accepted silver for deposits.

http://en.wikipedia.org/wiki/Panic_of_1857 Look at the picture, notice the bank run. Fractional reserve, the banks loaned more gold than was in the banks and stole the people money.

http://en.wikipedia.org/wiki/Panic_of_1873 Look at the picture.

http://en.wikipedia.org/wiki/Panic_of_1893 Banks over spending other peoples money on railroads.

http://en.wikipedia.org/wiki/Panic_of_1907 Look at the picture, bank loans for spending on stocks weeeeee.