CameronPoe
Member
+2,925|6846

Flaming_Maniac wrote:

ahahahaha

Did you just say that for shits and giggles or do you believe it? Because the last time I was in the room when this was explained was when the dumbest girl in school had it explained to her for twenty minutes in middle school.
Fractional reserve banking worked out just fine for Iceland didn't it....... lol

Paper money facilitates credit bubbles. I suppose more specifically modern banking and associated practices do. I'm no economics major though.

Last edited by CameronPoe (2010-01-11 14:05:10)

Flaming_Maniac
prince of insufficient light
+2,490|6998|67.222.138.85
The difference being Galt that I'm actually making sure I have to answer this or what. Judging by his response I don't think he meant what he said.

CameronPoe wrote:

Flaming_Maniac wrote:

ahahahaha

Did you just say that for shits and giggles or do you believe it? Because the last time I was in the room when this was explained was when the dumbest girl in school had it explained to her for twenty minutes in middle school.
Fractional reserve banking worked out just fine for Iceland didn't it....... lol

Paper money facilitates credit bubbles.
So do you have a problem with banking practices or paper money itself? Because you definitely don't get to print "shitloads of money".

Paper money has nothing to do with it but grease for the wheels. The car is still going to roll downhill, it's just a matter of how quickly it's going to be.

"Banks" could be giving people property in exchange for future goods just the same. Sharecropping for example.

goddamn you keep editing

Yeah, modern banking practices. Nothing to do with paper money.
Turquoise
O Canada
+1,596|6696|North Carolina
Fractional Reserve Banking is definitely a pain in the ass in the long run.
Jay
Bork! Bork! Bork!
+2,006|5649|London, England

Turquoise wrote:

Fractional Reserve Banking is definitely a pain in the ass in the long run.
It's fine. Tweaking the % that banks are required to hold in reserve a bit higher would prevent a repeat of the financial crisis. Of course, politicians keeping their mitts off the economy and ratings agencies actually doing their jobs would've prevented it almost entirely so... yeah, laying the lions share of blame on the banks is kind of silly.
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-Sh1fty-
Kez
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the Bible
..teddy..jimmy
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ak-47
Pochsy
Artifice of Eternity
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I'll go with the printing press.
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ghettoperson
Member
+1,943|6940

I'm going to say Global Warming before some know-it-all douchenugget gets to.
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unnamednewbie13
Moderator
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ghettoperson wrote:

I'm going to say Global Warming before some know-it-all douchenugget gets to.
Damn! Beat me to it.
FEOS
Bellicose Yankee Air Pirate
+1,182|6702|'Murka

CameronPoe wrote:

In vitro fertilisation.
How, exactly?

The machine gun.
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― Albert Einstein

Doing the popular thing is not always right. Doing the right thing is not always popular
=NHB=Shadow
hi
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america
FEOS
Bellicose Yankee Air Pirate
+1,182|6702|'Murka

=NHB=Shadow wrote:

america
https://upload.wikimedia.org/wikipedia/en/7/71/Movie_poster_team_america.jpg
“Everybody is a genius. But if you judge a fish by its ability to climb a tree, it will live its whole life believing that it is stupid.”
― Albert Einstein

Doing the popular thing is not always right. Doing the right thing is not always popular
Turquoise
O Canada
+1,596|6696|North Carolina

JohnG@lt wrote:

Turquoise wrote:

Fractional Reserve Banking is definitely a pain in the ass in the long run.
It's fine. Tweaking the % that banks are required to hold in reserve a bit higher would prevent a repeat of the financial crisis. Of course, politicians keeping their mitts off the economy and ratings agencies actually doing their jobs would've prevented it almost entirely so... yeah, laying the lions share of blame on the banks is kind of silly.
Good points...  I still think banks deserve a lot of blame, but the government does too.
jsnipy
...
+3,277|6813|...

reinsurance
Spark
liquid fluoride thorium reactor
+874|6966|Canberra, AUS

Cybargs wrote:

-Sh1fty- wrote:

This is basically the opposite to this thread.

So here you state which invention has caused harm or has degraded society/humanity.

I would say, alcohol. Although it's used for medicinal purposes as well, this substance kills thousands. Sometimes indirectly (through accidents such as car crashes).
Stop.
no seriously, not being facetious, alcohol saved a loooooooooooooot of lives back in the day. unless cholera really tickles your fancy...

i'm actually having trouble thinking of a genuinely inherently bad invention - major invention, that is - ummm... leaded petrol? zyklon b?
The paradox is only a conflict between reality and your feeling what reality ought to be.
~ Richard Feynman
destruktion_6143
Was ist Loos?
+154|6918|Canada
The Cigarette and Junk food.
pirana6
Go Cougs!
+695|6582|Washington St.

=NHB=Shadow wrote:

america
The other half of the world?

https://img684.imageshack.us/img684/7856/americamap.jpg

And to those of you saying religion? Do you honestly think we'd be where we are today without the rules and morals they started for us? (chill you non-religious martyrs, I'm atheist too, I just understand we wouldn't be where we are today without them, regardless if it seems irrational today).
Ioan92
Member
+337|6013

pirana6 wrote:

And to those of you saying religion? Do you honestly think we'd be where we are today without the rules and morals they started for us? (chill you non-religious martyrs, I'm atheist too, I just understand we wouldn't be where we are today without them, regardless if it seems irrational today).
Civilization would have been at least twice more advanced than it is today and there would of been much less wars.
Flecco
iPod is broken.
+1,048|6956|NT, like Mick Dundee

pirana6 wrote:

And to those of you saying religion? Do you honestly think we'd be where we are today without the rules and morals they started for us? (chill you non-religious martyrs, I'm atheist too, I just understand we wouldn't be where we are today without them, regardless if it seems irrational today).
The bad outweighs the good. Society free of religious constraints makes much more sense. 'Brave New World' might be scary as fuck as a concept, but it's also probably the only utopia that is actually achievable.

Dw, I'm agnostic with Christian leanings but I recognise that rules and morals have little to do with religion.
Whoa... Can't believe these forums are still kicking.
FatherTed
xD
+3,936|6791|so randum

Ioan92 wrote:

pirana6 wrote:

And to those of you saying religion? Do you honestly think we'd be where we are today without the rules and morals they started for us? (chill you non-religious martyrs, I'm atheist too, I just understand we wouldn't be where we are today without them, regardless if it seems irrational today).
Civilization would have been at least twice more advanced than it is today and there would of been much less wars.
Wars are a big kick-starter for leaps in technology etc. And few wars boil down to religion.
Small hourglass island
Always raining and foggy
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Cybargs
Moderated
+2,285|7007

Ioan92 wrote:

pirana6 wrote:

And to those of you saying religion? Do you honestly think we'd be where we are today without the rules and morals they started for us? (chill you non-religious martyrs, I'm atheist too, I just understand we wouldn't be where we are today without them, regardless if it seems irrational today).
Civilization would have been at least twice more advanced than it is today and there would of been much less wars.
As ted has said, wars jump start a shitload of tech... Assembly line for one.

Worst "invention" is definitely fast food.
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