Will Interledger Be the New World Bank?

[MaxEntropy]

@NightJanitor

Oh, Chomsky is definitely NOT my hero. I see him as a gatekeeper. But he is bright and informed, and when he does speak I listen until I turn him off.

[NightJanitor]

17 minutes ago, MaxEntropy said:

@NightJanitor

Oh, Chomsky is definitely NOT my hero. I see him as a gatekeeper. But he is bright and informed, and when he does speak I listen until I turn him off.

 

[MaxEntropy]

Ok, so these are questions that I really do not know any of the answers to...

Questions:

If we can accept that the Western World and China are deeply INDEBTED... US is 20 Trillion, Canada is 1 Trillion, etc. Japan is a special case wherein their debt is owned by the Japanese citizens and not a foreign entity. Then the following questions come to mind:

• what did we over spend on... cruise missiles, steak dinners, or vacations? If it was in cruise missiles, was the money spent in our our interests or someone else's? If they were used in our interest, then do we have a liability to those who were the unhappy recipients? If it was spent on someone 
• how does is such a debt handled, when each of the countries has a GDP of much less than the debt?
• to whom is the debt owed?
• how is money created? Out of more debt? 
• what is fractional reserve banking? Do you benefit? Who benefits?
• if the US decides to pay off growing 20 + Trillion deficit, will you offer to pay more taxes? Or will you move to New Zealand with the rest of California?

My point is, is that these are serious questions. Hodor for example, does address anything of usefulness other than pumping the positive news about Ripple. Ok, so maybe I should not pick on Hodor. The real point is that there is no one here who is genuinely offended by the business directions of Ripple... and you my good folks are the ones who will end up paying the debt... in many ways.

Let us assume that the debt is not paid off... How do you think a currency collapse will serve your interest? I expect no one thinks of thinks of this.

So, before you avid readers get wound up to respond, consider reading or Google "Confessions of an Economic Hit Man" by John Perkins... read the Amazon reviews. The point is, is that Perkins worked for agencies like IMF and the World Bank... and these are the good folks that Ripple is believed to be working with.

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So, Collins is probably correct. He is in line with what I have been saying forever.... Ripple is the only tech that the IMF and BIS/CB can actually use. So much much for a Bitcoin competitive product... from OpenCoin to an oppressive coin.

This makes no sense, unless you are blindly interested in Lambos.

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You folks should be buying Bitcoin.

[NightJanitor]

Well, I got the tempo back, anyway.  The answer to these Q's is in the post posted above your post.

BTW, I once saw a protester with this sign:  "If the whole world is $x in debt, who do we owe, exactly?"

That struck me as like zen koan level protest.  Normally, I ignore those, but I liked that guy's question.

It's one of those great questons that sort of slaps you in the face that it contains the answer, in itself.

Now, I could have gone over and talked policy with him, but I just smiled and went back to my work.

I think he'd have wanted it that way - and it was the least I could do to repay the smile that he gave me.