Dear XYZ, money laundering

posted by on 2011.06.14, under Blog, Probable Fiction, The Intel State

Dear XYZ,

you asked me on comments and thoughts on the problem of money laundering.

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Dear XYZ, Bitcoin

posted by on 2011.06.04, under Agorism, Blog, Probable Fiction

Dear XYZ,
good to hear from you.
It is fascinating how sudden a wide-spread reporting on Bitcoin swept the globe.

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Wage Slavery?

posted by on 2009.09.02, under Blog, Liberty

I still have to admit that the whole concept of “wage slavery” escapes my little confused brain.

Wage slavery, as it seems to me, is based on the following understanding:
People working for less compensation then they think would be just. This does not only include the monetary wage but also often the demand for being directly in control of the means of production and even to be paid “the full value of the product”. Often the “control of the means of production” extends to “not being bossed around and treated as property”.

While I do understand all of the above concerns, and sympathize with them (which is one of the reasons I became self-employed), I do not fully understand how to call it “unjust” or even slavery.

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Scribbles: Thinking about humans – C4T

posted by on 2009.09.02, under Blog, Probable Fiction, Scribbles


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The root of all evil: Compound Interest!!!!

posted by on 2009.09.01, under Blog, Just Stuff

A few days ago I sat in a bar talking to a drunken fellow next to me. He was all about that current banking and money system being evil (which I agree on). So I asked him what the main issue for him is:

Compound interest! It is the root of all our troubles. Because it means that you can never pay back your debt and that whomever you owe something will own everything sooner or later. If someone had lent only a cent to someone else in Jesus’ time, he would now own the whole world!

You can’t imagine how often I heard that line in the past. And it makes me cringe every time.
What is compound interest? It simply means that if you do not serve your interest payments you also have to pay interest on the interest, leading to your debt increasing exponentially (compounding) and you loose everything over time.
But mind you: This only happens if you don’t serve your interest payments. If you do, and even serve the original debt, you will be free one day.

The root of all evil is not compound interest, it is not serving your debt. Or more precisely: Wanting something for nothing.