This shit could not be made up by assholes
other than the ones who allowed it to happen
by participating in it.
The whole fucking thing was a colossal colloidal demonstration of the fact that
mass stupidity is alive and well in the year 2022
Aka the way it does not work according to the bitshit assholes
The Federal Reserve System is the Banking system in the United States
The system is the banks. It is run by the people who run it The board of governors. It has been run this way since 1913.
Everyone else is too stupid and too lazy to get involved. The governors have direct lines to the pulse of the economy by monitoring all banking that takes place throughout the country in each major banking center.
Every economic transaction of significance and billions of non significance that add up to Googles of piles of money are processed by the current banking system.
This sytem is a web of interconnected devices you have one in front of you right now. It might be small it might be larger than small.
It is connected to the internet and therefore it is part of a peer to peer network of interconnected devices with unique addressess and unique paths of communication end to end.
There is no economic activity that evades their attention or their ability to monitor collect the data on and to control by limiting restricting cancelling or otherwise over writing whatever space of silicon that some theoretical account might have occupied in a previous iteration of the current data set.
https://www.federalreserve.gov/
How a transaction works in the banking system used globally
since 1975 just to be conservative.
A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder's accrued debt (i.e., promise to the card issuer to pay them for the amounts plus the other agreed charges).[1] The card issuer (usually a bank or credit union) creates a revolving account and grants a line of credit to the cardholder, from which the cardholder can borrow money for payment to a merchant or as a cash advance. There are two credit card groups: consumer credit cards and business credit cards. Most cards are plastic, but some are metal cards (stainless steel, gold, palladium, titanium),[2][3] and a few gemstone-encrusted metal cards.[2]
A regular credit card is different from
a charge card, which requires the balance to be repaid i
n full each month or
at the end of each statement cycle.[4]
In contrast, credit cards allow the consumers to
build a continuing balance of debt, subject to interest being charged.
A credit card differs from a charge card also in that a credit card typically involves a third-party entity that pays the seller and is reimbursed by the buyer, whereas a charge card simply defers payment by the buyer until a later date.
A credit card also differs from a debit card, which can be used like currency by the owner of the card.
In 2018, there were 1.12 billion credit cards in circulation in the U.S., and 72% of adults had at least one card.[5]
The way it does not work which is not the way it works according to the assholes peddling this nonsense
https://www.cardrates.com/advice/number-of-credit-card-transactions-per-day-year/
Every genius who has traded dollars hard earned or not for bitshit has done so voluntarily having either read the nonsense and as usual with these nonsense scams since the tulip thing which was widely discussed in 2009 when it was less relevant than today. Anyway, the nonsense is clear but when it is compared to a system that no one who is in the audience understands it makes as much sense as any nonsense idea needs to make which of course is none what so ever.
So what exactly has happened since 2009 with the bitshit other than a few idiots spending what might under some circumstances be compared to spending a log of money on weed over time but certainly not comparable to Warren Buffett s story about not getting a haircut because he would loose money not otherwise investing the money and the haircut was not really necessary at the offered price.
Finished thinking? Well that was about as much time as was merited. Aside from as the tulips did right up to the moment when they no longer did, the geniuses have been handing over increasingly large piles of the well regulated and perfectly fungible dollars that said bitshit is valued in since bitshit itself has no value whatsoever other than the negative cost of needing to maintain the fantasy that something and more absurdly something useful for a purpose other than say verifying the legitimacy of an auction or can you possibly imagine, an election what a crazy idea.
A database system run for fun by the people who are constantly whining about how little control they have in the government that they they people keep allowing to do well it goes on like that as it has for the last couple of thousand years.
Anyway back at the bitshit bullshit pile this crap is not only never going to be used to buy a pizza again the moron who runs the fake electric car company and does not understand that carbon is the most abundant element in the universe is looking for more carbon and not so sure he wants anything to do with bitshit bullshit these days.
If you look at the complicated chart that shows where all the valuable bits are you will notice that the bitshit is all in la la land not in the banking system.
If somone sold you a bag of dog shit for a dollar and went to the bank and deposited the dollar, their bank account grows by one dollar yours shrinks by one dollar and you have one tasty lunch.
Whether the people use the power that they have to use in the most useful way to get the most out that power to the benefit of the most people where that pretty much includes everyone is the 10,ooo dollar question in bitcoin terms which are not expressible because bitcoin is worthless in terms of worth and worth full in terms of nonsense
The difference in black and white is expressible in dollars which is the only way that bitcoin is expressed making it no more valuable than a roll of toilet paper that some genius is selling to owners of internet toilets where the little ideas that these artists have traded real dollars backed by the faith and record of the people of the united states
Well, up to now anyway, some asshole who was shitting in the white house regularly recently was advocating for the abandonment of that unbroken record of consistency. The asinine reason given by the bag of hot carbon monoxide fades from memory the way the smell of any nasty emanation from any asshole does after a fresh breeze of otherwise shit filled atmosphere is able to permeate the immediate breathing space.
