160 karma · joined May 15, 2018
Our money system is based on fractional reserve banking, a system where money is created primarily through loans, which means banks will loan out ~90% (or more) of their deposits (which works fine as long as there isn't a bank run), this results in a chain where a $100 deposit of money eventually will result in about $900 in money created (electronically, out of thin air) in the form of loans to other people, all thanks to that $100 deposit.
So the bulk of money is created by private banks.
Now the loans made out must be paid back with interest, but there is not enough money in existence today to pay back the loans with interest, which means interest can only be paid back if more money is created (more people willing to take on debt in order to create more money). If more money cannot be created fast enough for the economy, more people will default on their loan repayments and you basically have a built in guarantee of crashes every few decades due to this. The Fed can try to prevent this by lowering interest rates to encourage borrowing, but this only prolongs the inevitable and can make the crash even worse when it does eventually happen. You also have a guarantee of inflation over the long term since more money is being created almost all the time.
The government borrows from the Fed, which issues out T-Bills, bonds, etc, but when they want to borrow hundreds of billions, or when the Fed issues billions to banks at discounted rates, I am not sure how the Fed gets that money or who they get that money from.
The stock market continues to climb because money is automatically dumped into the market when people are paid. Part of their salary is put into the market for people's 401k's and pensions, so every day there is more money in the market, that is what keeps it going (for now).
A small search engine for simple, non-commerical webpages.
Edit: I believe the bug which caused the crash is fixed now (knock on wood)
Wiby is based around two main things:
Non commercial content (1) that does not rely heavily on excessive javascript and CSS (2).
http://wiby.me/submit contains the submission criteria.
Repeat above steps once vps provider goes out of business (as someone else also pointed out)
1. Buy the cheapest most unsustainable VPS ipv4 deal out there.
2. Make A record and WWW record and point domain to your new fangled server.
3. Configure server:
apt-get install nginx goaccess
cd website
cp * /var/www/html
Yearly maintenance required: apt-get update, apt-get upgrade
reboot
View traffic stats: goaccess -f /var/log/nginx/access.log
You might find wiby.me interesting then