The #Australia government is not a household or a business, they are the monopoly issuer of our #currency.
Any #surplus they achieve is necessarily money they could have spent on things we need, but chose not to. That's bad.
Do we want a government that taxes more money than they spend?
I don't. I want a government that identifies what needs doing, and spends whatever money required to achieve that.
And taxes based on which parties or activities should not have as much money as they extracted from the economy. Not a fiction of taxation "to spend on" something else.
The federal government should not have a "balanced #budget", they don't have any need to "find the money" anywhere, they issue as much #AustralianDollar as they choose to at any time.
That's what a federal spending bill does: The money now exists. It didn't "come from" anywhere. Stop waiting for taxation!
The currency of life isn't money, it's options. A monk can choose to leave the meager life, a prisoner can't. Money also gives options, but so do contacts, skills, knowledge, ... #life#currency#philosophy#showerthoughts
“Everything at 100 pesetas”
(Everything at a low price)
A throwback sign on a side street in Petrer, Alicante, Spain.
The peseta was Spain’s monetary unit from 1868 until 2002 when it was replaced by the euro. The original exchange rate was approximately: 166 pesetas = 1 euro.
Fascinating that after using cash all my life, suddenly I read about these 15 properties it has. I had thought of some, but not all. It was also the first time I heard people are working on making a digital €.
#TheMetalDogArticleList #BraveWords
KISS’ PAUL STANLEY - “The More Famous I Became, The More Drugs Became Currency”
In an extensive interview with Forbes, KISS legend Paul Stanley talks about the band’s final tour, performing, acting, songwriting, painting. Everything.
> The #yuan’s status as a global #currency still faces a huge obstacle in the form of China’s own capital controls. Even so, rising willingness to conduct trade in yuan could help insulate #China’s economy, at least to an extent, in the event sanctions were imposed in a [..] future conflict with the West. It also could become a source of structural support for the yuan itself up[..] assuming weaker-than-expected Chinese growth https://archive.is/PjiMF
I get a lot of people calling out my #Bitcoin skepticism (as in: Bitcoin is a worthless piece of hot garbage trying to kill our planet) because number is again going up. This time it's real, now that the scamers have been caught and all.
But if you want to know why Bitcoin goes up you just need to look at one curve: Tether has printed 4 billion USD from thin air in the last week.
While it's great to see the crypto scam artists SBF and CZ been caught and punished (sadly without making their victims whole) the actual rock that whole scam economy is built on is Tether. Has been Tether for years.
And I really don't get why US regulators let some weird company print fake USD.
Denmark, where cash is seldom used, is set to withdraw 1,000 crown (approx. €134) notes, its largest denomination, from circulation by May 2025.
“With the evolution of Danes' payment habits, the 1,000 crown note is no longer necessary," Christian Kettel Thomsen, the director of Nationalbanken, said on Thursday.
In the Scandinavian country, just 10% of payments in stores are made in cash - already half as much as in 2017.
👀 :thisisfinefire: "The US has about $2 trillion of physical currency in circulation, half of it held abroad. Total US bank deposits are around $17 trillion. Meanwhile, total wealth in the US is around $149 trillion, more than 63 times the total available cash. The gaps between these numbers are like dark matter in the universe — we don’t have a way to empirically account for it, and yet without it our understanding of the universe, or the economy, would collapse."
Brief reminder on cryptocurrencies.
When trying to understand any form of cryptocurrency, understanding valuation relative to something similar is useful:
1 crypto coin == 3 Dutch 1637 tulips == 1/2 unicorn horn == 0.1 the Carnwennan dagger == 1 vial with 5 mermaid tears == 1/3 scroll of invisibility to dragons
Those are approximate as the value of each frequently changes from 0 to multiples of the square root of -1. For the most up-to-date values, check with the clerks at Gringotts.
@spaf or lile any other #Currency their "#value" is solely based upon convertability.
That's why 5.000 KPW won't buy you a Cheeseburger in the USA, but 5.000 U$D a car and 5.000 XMR :monero: a house or at least an tiny.single-room condo...
All currencies are beased upon acceptance and convertability, and that's why #Bitcoin :bitcoin: and everything else but #Monero are #Shitcoins that prey on people horny for money and greedy af.
Semi-quarterly shoutout to #FloatRates which provides "free online JSON data feed(s) with latest foreign exchange rates which updates daily (once in 12 hours at 12 AM/PM)“.
Fast, reliable, free, and current enough for (my) personal pet projects. Recommended!
🇷🇺 Russia’s central bank raised interest rates far more than forecast, alarmed that inflationary risks are still on the rise even after a reimposition of capital controls took pressure off the ruble.
How to make digital currency widespread? Learn from #Cambodia
Cambodia introduced Bakong in October 2020 -- at nearly the same time as the Bahamas' sand dollar -- as one of the world's first CBDCs. It initially struggled in much the same way as the digital yuan, with private-sector QR code-based platforms already well entrenched. Only about 1.5 million people, or less than 10% of the population, had Bakong wallets at the end of 2021.
This changed with the adoption of KHQR, a standardized QR code payment system that made Bakong compatible with private-sector payment platforms. The number of Bakong holders jumped to 8.5 million at the end of 2022, with 1.5 million stores accepting the digital currency.
@skinnylatte More confusing for me is that all the US currency notes are the same exact size. And the craziest is that the coin sizes aren't proportional to their value. 🥴