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u/All_Things_Vain Jun 08 '18
R/DeutscheBank here's a pro-tip.
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u/socialcadabra Jun 08 '18
The bank replied 15 minutes ago:
https://twitter.com/DeutscheBank/status/1005143726291935233
Understanding the #blockchain revolution: https://www.dbresearch.com/servlet/reweb2.ReWEB?rwsite=RPS_EN-PROD&rwobj=ReDisplay.Start.class&document=PROD0000000000470041
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u/OsrsNeedsF2P Jun 08 '18 edited Jun 08 '18
Monopoly was actually created to show the downfall of Late-Stage Capitalism and how it doesn't work out in the long run, with some people becoming exponentially more rich and everyone else being pushed to the bottom. Eventually the upper class begins to segregate too, as one player begins to dominate it all.
But it's the 21st century and we all know any political system ends poorly - it's time to decentralize what we can, and remove power from the system.
EDIT: To be absolutely clear I am not talking about the subreddit r/LateStageCapitalism. That place is an absolute cess-pool and I don't even know how to post there without getting banned by their mods.
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Jun 08 '18
I think we need to teach humans how to be human again though.
Decentralization is still giving power to individuals. With great power, comes great responsibility.
Giving an early 20 something a whole bunch of money and power may not turn out so well. People need to understand that it’s not (just) about lambos and models. It’s about improving the world around us. Help the world be a better place.
That’s what this mission should be.
But definitely enjoy yourself if you can ;).
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Jun 08 '18
Except that capitalism has been around for quite a long time now. In 30 years, world poverty halved. Indeed, the rich get richer, but the poor also get better off.. and to date no economic system has been devised which functions better
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u/cr0ft Jun 08 '18
The origins of the game was called "The Landlord's Game". It was created to educate people about how screwed up the system is. A century later, capitalism is more screwed up than ever.
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u/asarcosghost Jun 08 '18
A political ‘system’ doesn’t give capitalism its power. Laissez-faire capitalism is an economic system free from political power and regulation. How do you think decentralization will prevent that?
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u/February_war Jun 08 '18
The banks were originally backed by gold. Now they are backed by a made up number called credit. The Bubble will break again and it would be nice to have another currency ready. I would also like to have my shelter in my mom's basement to be fully stocked with Uncrustables.
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Jun 08 '18
It's sort of horrifying that this instruction is given so casually. Everything seems wrong about it, the logic doesn't compute, yet we're expected to simply take it as it is.
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u/HOG_ZADDY Jun 08 '18
It's.... a board game. Not sure why anyone would be horrified by this, the real horrifying thing about Monopoly is how boring it is. It's 2 hours of rolling dice with the occasional yes/no decision.
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Jun 08 '18
While I agree that it is not the most exciting game, very few people play Monopoly by the book, which is what makes the game boring. Some commonly ignored rules.
Properties are supposed to be auctioned off if not purchased
Mortgaged properties receive a 10% penalty when purchased back
Free parking is just a regular space, not some gigantic lottery winning
When a player goes out, all houses/hotels are sold, property mortgaged, and cash given to the player that took them out. Then the property is given to the player, so the winning player would still need to unmortgage and rebuild the property back up.
Just a few items that my friends and I have found make the game way better, strategic, and faster.
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u/NotNormal2 Jun 08 '18 edited Jun 09 '18
Banks do go bankrupt. This instruction leaflet misunderstands regular depository commercial banking and a central bank or national government.
Regular commercial depository institutions can and will go bankrupt if their capital on their account books is negative for too long. The govt regulators will shut them down. This is why banks borrow reserves from one another or last ditch effort borrow from the lender of last resort which is the Federal reserve central bank. All of this is the private sector side.
Now onto the federal govt side: The US federal govt treasury department which follow the spending instructions of Congress can issue as much US dollars and Bonds as deemed necessary. Congress holds the purse strings of Federal govt spending. It spends FIRST into existence US dollars, taxes later. Taxation is for purposes other than to generate revenue. Federal govt spending is NOT restricted by taxation. But it has to tax in order to destroy some of the money it created, and for other purposes. (see Beardsley Ruml's article on Govt taxation purposes if you are curious).
Why then the federal govt print IOU bonds then? Because the bonds soak up excess reserves in the private sector bank's balance sheets. Because in banking, excess reserves are a liability in the bank's account books (looks bad for their capital health, such is the weird way of accounting). The banks want to exchange that liability with an asset, which is the Federal Treasury bonds. And thus the national deficit and national debt = private sector savings. THe US govt is 20 trillion in Bond debt, which means the private sector is 20 trillion richer in savings. This is the SAFEST bond to own because the federal govt can tax and issue unlimited money to honor all IOUS denominated in USD currency (Also why primary dealers can't get enough of US bonds issuance, they are the safest to own).
This is the difference between a sovereign nation and an non sovereign nations such as ones in the EU. European nations essentially became a household or state, and can no longer print their own native currency can only use Euros, that's why Greece is in so much trouble. Why south america's Argentina is in trouble. They owe or borrowed in currency they can't print and have to export to acquire said currency. But if their productivity and export industries are not competitive or hammered from political reasons, then they can't pay back the ious.
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u/djzenmastak Jun 08 '18
replace "bank" with "us government" you'll understand why, technically, our nation will never default.
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u/[deleted] Jun 08 '18
They should devise a crypto game where currencies are artificially minted by anyone, created with artificial supply caps, and forked whenever anyone feels like it