PerZpective: “Our Economy Is A Giant Casino”

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The O.G. Echo does the math in this PerZpective on modern economics. Follow him and check out his site.

So to breakdown a recent tweet where I stated, “our entire economy is a giant casino, with a waitress/system that keeps numbing you with addictions so gambling continues. oh and no clocks in casinos”, let’s simply look at the word credit. It’s Latin for ‘he trusts’ or ‘he believes’ and that’s exactly what ‘money’ itself really is: a belief that it is…real.

Governments borrow ‘money’ from the Federal Reserve (a privately owned central bank, not under the authority of our own government) and taxpayers become responsible for ‘paying back’ the banks that non-existent money that has been ‘borrowed’. Sounds like one big gamble to me. See, banks are allowed to lend ten times what they have on deposit in their branch. It is called fractional reserve lending.

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For your own reference, it’s important for you to know that the United States has actually declared bankruptcy before: The Bankruptcy of The United States
United States Congressional Record, March 17, 1993 Vol. 33, page H-1303. You can look that up yourself to research, or email me and I will forward you the documentation.

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Back to the casino analogy. Basically, our economy would crash if the gamblers/consumers stopped hitting the table. Ever see an empty casino? You really wouldn’t, since the casino’s survival depends on it being full of people. And as you well know, the house ALWAYS wins. If people won more than the casino did, there wouldn’t be a casino standing there anymore. So the entire casino system, is rigged. Money should be a form of exchange, and a measurement of productive activities, and not a way of increasing your wealth for doing absolutely nothing. This ethos has turned the global economy into a giant casino, with the table rigged against everybody, except for a few people that actually help rig the tables. People tend to gamble more & more when they’re inebriated in some form. They need to be disconnected somewhat from reality. Which is why, waitresses walk around casinos offering free drinks, and there are no clocks in casinos so you don’t really know what time of day, or night, it is. They just want you to keep putting money down on the table, or into the slots like a Pavlovian dog. Trained. This is how our economy works.

Speculators may do no harm as bubbles on a steady stream of enterprise. But the position is serious when enterprise becomes the bubble on a whirlpool of speculation. When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done.
— John Maynard Keynes, The General Theory of Employment, Interest and Money, 1936.

For over 30 years, wages for most workers in the United States have been stagnant and poverty has worsened, while the income and the wealth of the richest 1 percent has grown dramatically. The economy is one big casino. Everybody’s basically “betting”, by contributing to the economy every time they cash a paycheck and become consumers, putting dollars on store counters. In this economy, people hope to win, like gamblers do. If you don’t understand how fiat money and fractional reserve lending works, or how money is printed “out of thin air”, you’re gambling, while the waitress/casino (the government) keeps offering you things to inebriate yourself with, such as prescription drugs, legalized alcohol and, of course, “illegal drugs” that are allowed to be brought into the country by sea ports and airports, that are not owned by the people that sell the “illegal drugs”, by the way. Let’s not also forget the constant “numbing” by the media that bombards you with horrible news stories, fear-mongering, disasters, mass shootings, etc.

Sounds like a casino to me. The system helps you gamble while keeping you numb & distracted. Spend. Lose. Hope to win.

@ECHOisthename

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