0 Persons are tagged with #loan

#loan

anonymiss@despora.de
anonymiss

Inside the deadly instant #loan #app scam that blackmails with #nudes

source: https://www.bbc.com/news/world-asia-india-66964510

A #blackmail #scam is using instant loan apps to entrap and humiliate people across #India and other countries in #Asia, #Africa, and Latin #America. At least 60 Indians have killed themselves after being abused and threatened.

#fail #crime #cybercrime #news #software #internet #suicide

Inside the deadly instant loan app scam that blackmails with nudes

At least 60 people have killed themselves in India after being extorted by a global racket.

2 Likes
wist@diasp.org
WIST

A quotation from Bierce, Ambrose

ACQUAINTANCE, n. A person whom we know well enough to borrow from, but not well enough to lend to. A degree of friendship called slight when its object is poor or obscure, and “intimate” when he is rich or famous.

Ambrose Bierce (1842-1914?) American writer and journalist
“Acquaintance,” The Cynic’s Word Book (1906)

#quote #quotes #quotation #acquaintance #borrowing #friendship #loan #socialcircle #status
Sourcing / notes: https://wist.info/bierce-ambrose/20189/

"Acquaintance," The Cynic's Word Book (1906) - Bierce, Ambrose | WIST

ACQUAINTANCE, n. A person whom we know well enough to borrow from, but not well enough to lend to. A degree of friendship called slight when its object is

One person like that
3 Shares
altcoopsys@diasp.org
Andrew Jackson

how the modern fiat money system works - what causes inflation?

first of: “economics” is where “believe” and “science” meet.

Often it is not clear, what parts of economics is “real science” and what is “make believe”.

What is for sure: all “modern” monetary systems are FIAT systems,

this means, some entity (state or bank, usually “independent” bank of banks)

  • prints an undefined amount of money (cash)
    • as much as it deems to achieve it’s goals
      • goals could be:
        • 0% unemployment
        • 2% inflation
        • reversal of climate change
        • peace & prosperity for all or just for the top 0.1%
        • what have you
  • it loans/lends that cash to private banks
    • the private banks are (supposed) to lend to productive citizens, that actually give the money it’s value, by adding value to society
      • by designing, building, creating, (mass) production of clever, innovative products & services that help people
        • stay alive & healthy - clean water & food - healthcare
        • get to work or to visit someone - transport
        • communicate - phones, computers, wires that connect computers…

So ask yourself: What gives money it’s value?

As it has no intrinsic value (it is not gold and since the 70s the US-$ is (thanks to Nixon and the Vietnam war) not linked to gold anymore).

The German Mark after ww2 was one of the first FIAT systems, economists predicted it will never work.

But it worked, because Germans worked hard for that paper money, even if it can not be converted to Gold or Silver or “guaranteed amount of bushels of grain” or this or that product of scarcity (that in the terms of grain, actually provide some purpose).

So does printing more money cause inflation?

Sure it does.

Ask yourself: What does a bank produce?

Actually a bank produces only one thing: loans.

If it does not produce loans, it’s like a factory with no output (lost it’s purpose).

The question is: If the banks fail at their core task, can the state step in, and lend money to citizens that want to create those innovative products = jobs?

Also What is the best way to battle inflation?

Imho it would be:

  • a actually working banking system that actually produces loans into the hands of innovative (entrepreneurship) citizens that want to add value
    • if the state does not want to take over that role, it needs to force banks to do their job properly

second best fix:

  • increase the price for money
  • aka increase the price for borrowing money (if something costs nothing it’s not worth anything?) aka increase central bank interest rates on that central bank money (Russia currently has 15.90% Inflation and a central bank interest rate of 9.50% (https://tradingeconomics.com/matrix)

Thatcher did that it was not pretty.

Buying and selling stocks or real estate, is not investment, it’s speculation (not adding value to society in any sense).

#money #alternative #systems #altcoopsys #alternatives #OsOfSociety #OperatingSystemsOfSociety #SystemPhilosophy #dinero #dollar #euro #yen #rubel #sustainability #resilience #complementary #complementarycurrency #cooperation #monetaryreform #financialreform #financialsystemreform #financialcrisis #mortagecrisis #debtcrisis #occupywallsreet #finance #moneysystem #financialsystem #economics #ecologicaleconomics #economy #capitalism #kapitalismus #system #central #bank #inflation #fita #currency #banks #loans #loan #credit #value #adding #democracy

Originally posted at: https://altcoopsys.org/2022/07/22/how-the-modern-fiat-money-system-works-what-causes-inflation/

One person like that
1 Shares