Admin on the slrpnk.net Lemmy instance.

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Joined 2 years ago
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Cake day: September 19th, 2022

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  • Yeah, Occulus and Linux are not the best friends. There are some work arounds to make it somewhat work with SteamVR, but don’t expect too much.

    My recommendation would be to look for a second hand Valve Index or HTC Vive if using it on Linux is your priority.

    Or wait for the rumored new standalone headset from Valve, but that will probably not happen before end of 2025 if at all.


  • While a good idea in theory, such currencies are never going to be very popular as people loath easily visible and (externally) enforced inflation.

    It is also not really all that different from a currency issuing entity regularly making additional money and causing inflation that way. Silvio Gesell developed his theories in contrast to largely gold pegged currencies of his time, and one can argue that fiat currencies of today are already largely implementing his ideas albeit on a larger scale, making the regional benefits less apparent.

    The way to make this work is imho to clearly link the inflation to funding of widely agreed on common infrastucture spending through.


  • Yes, that is more or less how the current system works, although there are structural incentives to hide government loans in various constructs and thus the 2-5% figure is understating the real extend. But even so, government debt at 100%+ of GDP tells a story about how taxes are not very vital for funding government actions.

    I think there needs to be a bank that issues a debt voucher (more or less what money is) for a specific purpose, but that doesn’t have to be a monopolistic and state violence enforced single currency.

    The 3rd world country example was just to point out that models of government exist that mostly source their income from resource extraction and other means that do not involve taxation.


  • Customer deposits are afaik partially excluded from newer reserve requirements as a result of the 2008 banking crisis. At least my coop bank had to try really hard to convert customer deposits into what are nominally member shares to fulfill these new reserve requirements. And yes, the loan risk is the primary concern, but banks very commonly leverage to the maximum they are allowed.

    As for “private” banks… that is a not very precise term and includes coop and farmers’ banks for example, which offer a valuable service to their members. I agree though that many commercial banks are a net negative to society.

    The more common way how public works are funded is by the government taking a loan from the central bank, which is essentially printing new money. Taxes play a role in funding ongoing services like payment of state employees and social security, but that highly depends of the specific country. In general taxes are mostly collected to enforce participation in the official governmemt issued fiat currency economy (what is measured in GDP) and are not that relevant to the function of the state itself. Many governments in 3rd world countries hardly collect any taxes from regular citizes at all.



  • You post starts good, but then gets a few things wrong in the end 😅

    For example the leverage banks are allowed to have is more like 1:10, meaning they can increase the money supply tenfold or so. It also doesn’t have to be backed by other customer’s money at all.

    Interests on bank loans are also only a small part of why capitalism requires constant growth. In fact the recent years of near or partially even below zero interest rates proove that this basically a neglectable part.

    In general, increasing money supply isn’t nearly as big of a problem as some people say, as ultimately money is just a means of exchange with no inherent value of its own, so it it good to be able to adjust the supply easily to account for the real world demand. If you want to read more about that the so called Modern Monetary Theory is a good start.

    Personally, I would advocate for the exact opposite: (community) banking without government involvement.

    While it is true that taxation gives government issued fiat currencies its primary trust, this is ultimately a coercive methode backed by the threat of violence and imprisionment, which is not something that I can support. It is also only one of many ways to structure a currency and have it being trusted by its users, so I think we will be able to figure out something better 😊



  • I don’t think the framing of this article as a question of principles over pragmatism is a good one. Sure, the Bolshevik deserve all the hate for their counter-revolutionary project, but most people prefer pragmatism over principles and it is often misled principles that cause the most harm.

    The better distinction is means Vs. ends. It might take a bit longer to explain, but you can be plenty of pragmatic in your day to day activities without putting the ends over the means.

    Of course it is a kind of principle to never let the ends justify the means, but it is a rather pragmatic one, as experience shows over and over that the means strongly influence if not determine the ends.