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[GiglameshDespair]

As far as I know most everything is off the Gold Standard. Hell, Britain's sold of most of it's gold reserves, so basically the pound is worth something because we say it is.

[SalmonGod]

Makes me happy to see people talking about this, without me having initiated the line of discussion.  Not sure that's ever happened before

[BFEL]

As far as I know most everything is off the Gold Standard. Hell, Britain's sold of most of it's gold reserves, so basically the pound is worth something because we say it is.

Huh. Well there you go.
Value is arbitrary now.
No wonder we accidentally the economy over here (and pretty much everywhere)

Although frankly the whole economy thing seems to be a big deal JUST BECAUSE PEOPLE ARE FLIPPED OUT ABOUT IT.

[Mr. Strange]

Although frankly the whole economy thing seems to be a big deal JUST BECAUSE PEOPLE ARE FLIPPED OUT ABOUT IT.

Haven't you heard, economy is everything now...

Domestic politics are now economic policies.
Foreign politics are now free-trade negotiations.
Education is for producing good and productive employes.
Pensions are paid for those who have spend their life benefitting economy.
Military is for securing strategic assets for your economy.

You exist to benefit the economy.

I should stop shitposting when I'm down.

[Descan]

The economic recession is basically "fake it till you make it" writ large.

People need to fake confidence in the economy in order for it to get fixed

Plus, you know, actually hiring employees. :I

[Mr. Strange]

People need to fake confidence in the economy in order for it to get fixed

Why fake confidence, just spend more money to ignore it. Actually having money to spend is irrelevant, I'm sure that if enough people do it whole system can't afford to collapse...

[Descan]

That's... what I mean. You fake confidence, and that confidence means "I'm confident that I can spend this money without needing it in the future because of an economic collapse/I'm confident I can store this money in that bank without losing it to an economic collapse/bankrun"

[Lord Shonus]

Fiat money isn't actually arbitrary, it's just that, instead of tying your money to a single commodity like gold or silver, you tie it to the GDP of the national body that issues it, in the same way that stock values are tied to the total value of the company that issues it. Essentially, each dollar/Euro/Ruble/Pound represents one tiny percentage of the value of the entire US/EU/Russia/UK economy, which is why organizations such as the EU stabilize the overall economy, as the larger an economy, the less each piece represents, and thus the less that piece fluctuates. It is also the cause of inflation/deflation, when the issuing body doesn't change the amount of currency in circulation in the same proportion of the change in the economy, usually for good reason.

[Blaze_1711]

My mother returned from hospital today, she is very depressed about having to use medicines all the time (she operated her thyroid gland).

[Sirus]

She operated on her own thyroid gland? Damn, that is hardcore.

Spoiler (click to show/hide)

Sorry for the lame joke. Best wishes!

[Blaze_1711]

She operated on her own thyroid gland? Damn, that is hardcore.

Spoiler (click to show/hide)

Sorry for the lame joke. Best wishes!

Hahahaha. Nah, it's okay.
And thanks, i'm sure she will get better soon!

[BFEL]

She operated on her own thyroid gland? Damn, that is hardcore.

Spoiler (click to show/hide)

Sorry for the lame joke. Best wishes!

More people need to learn to operate on their thyroids.
Wouldn't solve hunger or anything, but goddamn if it wouldn't be awesome.

[Tack]

The worst part is banks, not to slam banks- because they're winning the game.

But basically most British-based countries have laws that the banks must hold in reserve 10% of their total stored cash, just in case people want it back.
Normally that would mean that they can't loan out that 10%. However the banks chose to loophole.
Now, the full amount is treated as the new 10%, and they conjure up 9x that in money to loan out.
Apparently that process is one of the prime proponents of inflation.

[Helgoland]

The worst part is banks, not to slam banks- because they're winning the game.

But basically most British-based countries have laws that the banks must hold in reserve 10% of their total stored cash, just in case people want it back.
Normally that would mean that they can't loan out that 10%. However the banks chose to loophole.
Now, the full amount is treated as the new 10%, and they conjure up 9x that in money to loan out.
Apparently that process is one of the prime proponents of inflation.

Why's that a bad thing? Moderate inflation is good for the economy, you know...

[The Fool]

Boyfriend left me because 'I was more serious about the relationship than he was'. He says he's looking for something serious when we started going out, but when it came down to it he just wasn't. Fantastic.

At least he didn't string me along like the last one. Last one I had to call out because he kept cancelling, rescheduling, etc. He was straight up using me til I called him out on it.

I seriously need to take a break from dating.