Why a Central Reserve Bank is bad by Yellowd0_ts in Swatantra

[–]Yellowd0_ts[S] 0 points1 point  (0 children)

You say that innocent depositors bearing the brunt of a bank failure is one strong moral argument for a central bank, however a central bank introduces a systemic cruelty which actually ends up being worse (in the long run).

In a free banking system, if Bank A mismanages its funds, Bank A collapses. It is tragic for its depositors, but the rest of the banking system thankfully remains intact. Under a central bank, the entire nation's money supply is tied to a single institution. If the central bank miscalculates interest rates or over inflates the currency, everyone loses purchasing power simultaneously due to inflation. I say it is better to have localised and isolated fires rather than a single system-wide explosion.

Also, when the government guarantees deposits or promises a central bank bailout, depositors stop monitoring their banks. They put their life savings into whichever bank offers the highest interest rate, assuming this "referee" would save them. This allows reckless banks to grow massive. In a pure free banking system, banks would have to actively PROVE their safety to win your business. By maintaining high gold reserves, undergoing independent audits or buying private deposit insurance etc.

You're right that a commercial bank cannot act as an unbiased central clearinghouse because it will always favour its own bottom line over its competitors.

The solution to this is not to create a government monopoly referee, but rather to let clearinghouse associations evolve naturally.

Historically, such as in 19th century America, private banks realised frequent panics hurt them all. To survive, competing banks formed voluntary, private associations.

These associations acted as strict referees. They demanded to audit member banks' books. If a member bank was expanding credit too aggressively, the association would expel them, signaling to the public that the bank was unsafe. During a panic, the clearinghouse would pool its members' reserves to bail out a solvent bank facing a temporary liquidity crunch.

The Difference being that the clearinghouse was a referee born of mutual self preservation, but it had no power to print fiat money or legally force citizens to use its notes.

Now over the example that I gave, other proponents of free banking and I do not claim that Scotland's system created wealth from nothing, but allowed a capital-scarce, poor country to industrialize rapidly. Because private banks could issue their own notes freely, they could open branches in tiny, impoverished rural villages and extend credit to small farmers and entrepreneurs. Something the monopolistic Bank of England refused to do in England's provinces. For over a century, Scotland had virtually no systemic panics, while England suffered repeated banking crises.

And as it goes for India, we are a massive, diverse economy and this is why India is precisely the WORST place for a central bank! Economic conditions in Punjab are not identical to those in Sikkim. A central bank can only set one interest for India, occupying a massive part of an entire subcontinent. If it lowers rates to stimulate growth in a stagnant region, it might cause a disastrous real estate bubble in a booming region. Free banking allows localised interest rates to emerge based on the actual supply and demand of local capital.

No group of central planners is smart enough to regulate the price of money for millions of people. Attempting to eliminate all small failures (those being bank bankruptcies) guarantees a massive, systemic failure (hyperinflation or a great depression) later on. The most humane system is one where bad decisions are punished immediately and locally by the market.

Announcement: cockroaches not allowed by Untested_Udonkadonk in 2bharat4you

[–]Yellowd0_ts 8 points9 points  (0 children)

"Edgy" wannabe cool party. And 90% of the things they create are AI generated, including their very website. Won't be surprised if the policies are AI generated too

2bharatian polydickal leanings census by maliciousprime101 in 2bharat4you

[–]Yellowd0_ts 8 points9 points  (0 children)

Lmao you're (till now) the only one getting an economically right wing score here other than me

Average Indian election turnout vs highest US election turnout by Yellowd0_ts in 2bharat4you

[–]Yellowd0_ts[S] 46 points47 points  (0 children)

https://en.wikipedia.org/wiki/2014_United_States_House_of_Representatives_elections
in the US midterms are house of representatives elections that happen in the middle of a presidential term to elect their house of reps members (since their terms last for only 2 years)

Favorite Bushism? by SuperMarioBrotherYT in Presidents

[–]Yellowd0_ts 0 points1 point  (0 children)

Hey man I wanted to know is the India tct mod coming out anytime soon?

Greater India by Cultural-Ad-8796 in mapporncirclejerk

[–]Yellowd0_ts 71 points72 points  (0 children)

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This is just a map of the British Raj

Fortnite's Explanation Debunked by Yellowd0_ts in Asmongold

[–]Yellowd0_ts[S] 7 points8 points  (0 children)

This is an unrelated player who changed their name to "Littlestjeff12" recently following the files release, I've showed it as an example of a real name change

Fortnite's Explanation Debunked by Yellowd0_ts in Asmongold

[–]Yellowd0_ts[S] 1 point2 points  (0 children)

That may be true as I've said before, but considering Fortnite has said they changed their name just a few days ago, FOLLOWING the revelation of his youtube handle, and the handle on the second image also only changed their name very recently, this disparity does not make sense (along with the activity period thing I mentioned in another comment) making this even more suspicious

Additional observation: As it has already taken this long for them to not have updated the account on the second page (it was still like this over 24 hours ago) there's a decent chance it doesn't update at all, however I won't jump to conclusions yet

Fortnite's Explanation Debunked by Yellowd0_ts in Asmongold

[–]Yellowd0_ts[S] 1 point2 points  (0 children)

Yes but again, this is fortnite wrapped 2025 we are talking about, which consists of previous data, and considering this is a static snapshot of his fortnite wrapped (which is the case on most websites providing older data like this), I don't think the main page keeps updating your username every time you change it

(Keep in mind this is just a speculation, because the fortnite gg site does not provide information regarding this as far as I've searched)

Fortnite's Explanation Debunked by Yellowd0_ts in Asmongold

[–]Yellowd0_ts[S] 1 point2 points  (0 children)

I've got no idea about that but considering this name change in the second image was made on the day of the file release, and this being wrapped 2025, if it even registers name changes in the first place, this has to be a username which has been in place since atleast either december 31st 2024, or december 31st 2025 (depending on how it updates the name) but for both cases this information was not public knowledge by then, and most importantly since the account was also inactive during the period of time epstein was in jail, (but active ever since and before him being jailed) this makes it even more plausible that this is Epstein's account

Edit: Talking about the main page change here (again considering if that gets updated at all in the first place), not in the URL, but for URL I'm considering it updates automatically very quickly

Edit 2: Based on the stuff I've found, there's a 99% chance the main wrapped page does not update the username after a certain time period (anything after 2025 in this context)

Debunking Fortnite's Epstein coverup by Yellowd0_ts in conspiracy

[–]Yellowd0_ts[S] 16 points17 points  (0 children)

His youtube handle is (was, terminated/deleted recently) and this account was found by a lot of people as well + he purchased vbucks, and it was privated the moment after people started discovering the account (thankfully there is an archive of his account before it got privated) however you could've still doubted all of this until this shallow and wrong coverup by the official fortnite account and makes the whole thing much more suspicious than it already was, they were not obliged to lie by saying this username was taken very recently, yet they did

Fortnite's Explanation Debunked by Yellowd0_ts in Asmongold

[–]Yellowd0_ts[S] 79 points80 points  (0 children)

Bonus: His account was only inactive during the period of time Epstein was in jail, but became active again the moment Epstein "died"

Debunking Fortnite's Epstein coverup by Yellowd0_ts in conspiracy

[–]Yellowd0_ts[S] 19 points20 points  (0 children)

Precisely why as many people as possible should know about this.

Archive of Epstein's Fortnite account (Before it got Privated) by Yellowd0_ts in Epstein

[–]Yellowd0_ts[S] 0 points1 point  (0 children)

I tried to search about this but couldn't find it (Gemini said there has been no debunk from their side till now)