Welcome • User Guide
ToS • Privacy • Canary
Donate • Bugs • License

©2025 Poal.co

1.1K

(post is archived)

[–] • 0 pt

I kindof agree with that. If people took a stand against that and their taxes, shit would be so fucking lit.

[–] • 0 pt

If the entire country stopped paying their income taxes tomorrow, the only thing that would happen is skyrocketing inflation. Your income tax check doesn't pay the bills for the US government. They would simply print the money they need. This causes 2 things to happen.

  1. You have more disposable income for a limited, finite, supply of goods and services. Prices increase.
  2. Printing money increases the money supply for a limited, finite, supply of goods and services. Prices increase.

How does this help?

[–] • 0 pt

You can't run a bank in 2022. They aren't required to have deposits to operate. Every customer a bank has can withdraw all their money and close every account they have and the bank will still be doing business. Banks don't make very much money on your deposits. They make it on their loans.

[–] • 0 pt

Your deposit is a liability to the bank. The bank's loan to you is their asset. Assets - Liabilities = Capital Reserves are assets beyond the value of liability (such as the bank's own money) preventing the bank from being negative capital (insolvent).

Reserves can be borrowed.

The part you are taught in school, deposits come first, is a lie. Loans come first and deposits follow. They can either accept your money and pay you no interest or take a loan from the fed and pay 0.25%. You are a cheaper money source.

Denial of deposits will force banks to operate using more expensive sources of funds. This will raise interest rates ( but not for your savings, lel ) and depress industries relying on loans ( education, housing, autos ) as a greater share of consumer expense goes to interest rather than the product.

All of the things you object to are financed by debt.

The value to hold existing debt goes down as rates increase. You loan me $100,000 at 2% and collect interest. Had you made that loan today you would get twice as much (4%) interest.

Bank run marginally punishes debt holders and borrowers, but mostly those too slow at running.

Their anger is turned against the system which will defend its appearance of legitimacy with unending created money to backstop the banks... an act which endangers the appearance of legitimacy.

That is how bank runs are effective.

[–] • 0 pt

Talk about a way to get arkancided.