Chilean activist destroys student debt papers worth $500m

[Sava]

So Kid... the bank bailouts... Good? Or bad?

[Kidlicious]

So Kid... the bank bailouts... Good? Or bad?

The problem is that they had to be bailed out. We have too much debt.

[Sava]

Debt isn't a real thing. It only exists on paper.

[Kidlicious]

Debt isn't a real thing. It only exists on paper.

Are contracts real things?

[Bereta_Eder]

Do you consider that corruption?

I view it as natural byproduct of the parasytic symbiosis between political and corporate power.

Take as much risk as you want but, hey, if you're a bank, the people will pay for all your failures.
How's that for 100% state

[Sava]

Are contracts real things?

Only on paper... or the minds of the two parties.

[Kidlicious]

I view it as natural byproduct of the parasytic symbiosis between political and corporate power.

Take as much risk as you want but, hey, if you're a bank, the people will pay for all your failures.
How's that for 100% state

So we need less powerful banks and less powerful government.

1) less debt

2) less tax

[Kidlicious]

Only on paper... or the minds of the two parties.

My money also only exists on paper. Actually most of it doesn't even exist on paper. So how is it taxed?

[Sava]

Banking just needs to be separated from the riskier set of financial services. Sure, let the derivative trade exist... just not for entities that wish to also provide banking services.

[Sava]

My money also only exists on paper. Actually most of it doesn't even exist on paper. So how is it taxed?

Quite regularly.

[Kidlicious]

Banking just needs to be separated from the riskier set of financial services. Sure, let the derivative trade exist... just not for entities that wish to also provide banking services.

You don't understand how the economy works. It doesn't matter that the BANKS owned the derivatives. When the market crashes it affects the whole economy.

[Sava]

Oops. My bad... I started to have a serious conversation with you. Don't worry, it won't happen again.

[molly bloom]

Obligatory Burkean objection: does that self-determination apply to everyone at all times? That could be interpreted as a moral license for anarchism.

Anarchism is not terrorism or disorder.

Only if you have an intelligent citizenry

Including yourself out, are you ?

The masses are easily manipulated.

Ah, yes. Mass media, religion, advertising that sort of thing , hmmm ?

[Sava]

The reality of anarchism is pretty terrifying.

[molly bloom]

The reality of anarchism is pretty terrifying.

You mean people being personally responsible, not having courts of law, lawyers, state agencies, that sort of terrifying ?