Capitalism is NOT Democratic: Democracy is NOT Capitalist

[bripat9643]

I'm saying vast concentrations of money kill democracy.

Democracy kills itself. It's a self limiting disease. It's not a stable form of government.

 

[bripat9643]

What does one share/one vote tell you about equality of opportunity?

It tells you that a corporation is a private corporation. It isn't required to follow the "one share/one vote" model you propose.

 

[bripat9643]

Why don't you try explaining the differences between industrial and finance capitalism?

America’s Path To A FIRE Economy

Capitalism is capitalism. You either follow it or let the government run corporations.

 

[bripat9643]

Are you jealous?

You admire thieves?

 

[struth]

What does one share/one vote tell you about equality of opportunity?

everybody has the same opportunity to buy shares if it’s a publicly traded company

 

[Toddsterpatriot]

Crooked corporation frames human rights lawyer, and you blame the lawyer.

How did they frame him?
Spell it out.

 

[Toddsterpatriot]

What do you own, Bean Counter?

More than you, comrade.

 

[Toddsterpatriot]

Please explain what "Partial gold coverage" is. I've never heard of it.

I've never heard of it.

Obviously.
If they had $1000 in specie (gold coin) and they issued $5000 in notes, they have 20% coverage. They can redeem 20% of their notes with gold.

 

[bripat9643]

I've never heard of it.

Obviously.
If they had $1000 in specie (gold coin) and they issued $5000 in notes, they have 20% coverage. They can redeem 20% of their notes with gold.

You meant fractional reserve banking. That's still a 100% gold standard. If a bank customer turns in bank notes, he's entitled to receive 100% of the note value in gold. Whether a bank had enough to cover all it's not obligations is another issue altogether.

 

[Toddsterpatriot]

>> They all did.

You're confused. <<

Nope. You are.

>>What's the point of partial coverage?

So that they can redeem a portion of their notes with gold coin. <<

Why would anyone use such notes?

>> What does that even mean?

It means that you don't understand free banking. >>

Of course I do. Russian foreign debt has nothing to do with free banking

>>Do they renege on their promise to return a specified amount of gold for the note?

If enough notes were redeemed, they reneged the shit out of their promise. <<

Yes they did. Old news. How does paying off old debt make their notes useful? They aren't even gold notes.

Why would anyone use such notes?

Banks issued notes. You don't want to use them?

Russian foreign debt has nothing to do with free banking

You're conflating my posts with commie george's.

 

[Toddsterpatriot]

You meant fractional reserve banking. That's still a 100% gold standard. If a bank customer turns in bank notes, he's entitled to receive 100% of the note value in gold. Whether a bank had enough to cover all it's not obligations is another issue altogether.

You meant fractional reserve banking.

I'm talking about banks issuing their own notes under the gold standard, before the Fed existed.
Of course modern banks have always been fractional reserve.

That's still a 100% gold standard.

Free banking always had less than a 100% gold reserve.

If a bank customer turns in bank notes, he's entitled to receive 100% of the note value in gold.

Yup. Entitled all day long.

Whether a bank had enough to cover all it's not obligations is another issue altogether.

The issue is, they never did have enough gold to cover all their obligations. Never ever.

 

[bripat9643]

You meant fractional reserve banking.

I'm talking about banks issuing their own notes under the gold standard, before the Fed existed.
Of course modern banks have always been fractional reserve.

That is " fractional reserve banking."

That's still a 100% gold standard.

Free banking always had less than a 100% gold reserve.

That doesn't make it a "partial gold standard." It's a fractional reserve system, whether it's based on gold or not.

If a bank customer turns in bank notes, he's entitled to receive 100% of the note value in gold.

Yup. Entitled all day long.

You're legally entitled. That means if the bank doesn't cough up the gold you can have the legal authorities go after it.

Whether a bank had enough to cover all it's not obligations is another issue altogether.

The issue is, they never did have enough gold to cover all their obligations. Never ever.

It's separate issue.

 

[georgephillip]

ndeed, I do. My response is mockery. If you're going to use the board to spread your propaganda - I'm going to point out just how stupid it is.

By ignoring my claims and resorting to ad hominem fallacies.
Refute this claim if you can:

The Marxist Perspective on Crime

1. "The state practices Selective Law Enforcement – The Criminal Justice system mainly concerns itself with policing and punishing the marginalised, not the wealthy, and this performs ideological functions for the elite classes."

 

[georgephillip]

Both socialisms and capitalism exist in almost all nations. Balancing the two competing ideologies provides the highest level of productivity commensurate with the social well being of society. It is is the balance between these to two ideologies that all nations should strive

That sounds logical to me; however, we live in a country where many voters regard Social Security and the Post Office as examples of socialism. I believe these same conservatives minimize the threat to democracy posed by unbridled capitalism:

The dollar costs of inequality: they are greater than you think | MR Online

"Pretty much everyone accepts that inequality is a big problem in the U.S.

"But it is doubtful that most people truly grasp how successfully U.S. elites have captured the benefits of economic growth and, as a result, how much the resulting inequality has cost them.

"Here is one estimate of that cost—according to Carter C. Price and Kathryn A. Edwards, authors of a Rand Education and Labor study on income trends:

"[the] aggregate income for the population below the 90th percentile . . . would have been $2.5 trillion (67 percent) higher in 2018 had income growth since 1975 remained as equitable as it was in the first two post-War decades. From 1975 to 2018, the difference between the aggregate taxable income for those below the 90th percentile and the equitable growth counterfactual totals $47 trillion.

"That $2.5 trillion was enough to give each and every worker in the bottom nine income deciles an additional $1144 a month, every month of the year.

"That is life changing money for tens of millions—and that is only a partial measure of the costs of inequality."

 

[georgephillip]

Neither is socialism. Every country that has ever exists thats used only socialism has ended in dictatorship.

Care to provide any examples?

 

[georgephillip]

I work for a stockholder company. I make 160k a year. No college degree.

So what?

Many uneducated whores earn more.

 

[georgephillip]

Jeremy Corbyn.....calling someone a parasite. Hilarious!!!

Not half as funny as a useless eater like you calling someone else a parasite.

 

[georgephillip]

So he's never had a real job.

Just like you, Parasite.

 

[elektra]

So what?

Many uneducated whores earn more.

I make over almost 200k. I pay more in taxes than you make in in 3 years.

The capitalist corporation I work for pays extremely well. In 2 years I could have most anybody here, making an easy 100k a year.

Your response is nothing but immature sour grapes.

Instead of discussing your opinion, you turn to flaming people in your OP.

You are lousy piece of shit which only makes sense, seeing how your opinion stinks of failed Democrat liberal Marxism.

I can send you some cheese and spam if you are hungry, a little welfare from me the righteous to you the social leech.

Pm your address, I am sure you need free food. I have no problem sending you rice and beans.

 

[Toddsterpatriot]

That is " fractional reserve banking."


That doesn't make it a "partial gold standard." It's a fractional reserve system, whether it's based on gold or not.



You're legally entitled. That means if the bank doesn't cough up the gold you can have the legal authorities go after it.


It's separate issue.

That is " fractional reserve banking."

A bank issuing their own notes is not fractional reserve banking.

Fractional reserve banking is when a bank holds a part of their deposits as a reserve.

That doesn't make it a "partial gold standard."

Notes are partially covered.

You're legally entitled.

I'm sure that makes you feel better after the bank failed.

That means if the bank doesn't cough up the gold you can have the legal authorities go after it.

Go after the gold? They never had it.
Go after the bank? You're the one who thinks private bank notes are a good idea.

It's separate issue.

You claimed banks had 100% of the gold needed to cover their notes.
That's the issue that started our disagreement.