There is no hoarding. Banks create money out of thin air when they lend. Banks are not intermediaries of funds. Go keep your electronic tokens in their server, they can make more in the next row in the database.
Central banks QE is stopping an implosion. Banks issued money that could not be paid back as one must pay back the original fee and interest. You have to keep issuing more money into the face of this or it collapses. You do this by reducing rates. Then you hit zero and people cannot borrow more. Then central banks have to step in to plug the yawning chasm which is borne of banks saying they were creating wealth whilst in fact they have been appropriating labour and when the apex is reached you get to see the truth.
And you can't get that back. We took fiat tokens and they drank real wine, used real gasoline etc and all in exchange for fiat created ex nihilo.
More fool us.
ps looking forward to a hacker news "your submitting too fast (on a topic about finance on a site where VCs lend you fiat and you return your labour)"
https://bankunderground.co.uk/2015/06/30/banks-are-not-inter...
Central banks QE is stopping an implosion. Banks issued money that could not be paid back as one must pay back the original fee and interest. You have to keep issuing more money into the face of this or it collapses. You do this by reducing rates. Then you hit zero and people cannot borrow more. Then central banks have to step in to plug the yawning chasm which is borne of banks saying they were creating wealth whilst in fact they have been appropriating labour and when the apex is reached you get to see the truth.
And you can't get that back. We took fiat tokens and they drank real wine, used real gasoline etc and all in exchange for fiat created ex nihilo.
More fool us.
ps looking forward to a hacker news "your submitting too fast (on a topic about finance on a site where VCs lend you fiat and you return your labour)"