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Bitcoin-enforces-sound-money-peacefully
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Courtesy ChatGPT Certainly! Here are up to 50 concise points from Smedley Butler's "War is a Racket," along with the logic behind them: War is often driven by economic interests rather than noble causes. The profits of war are concentrated in the hands of a few. Many wars are fought to protect and expand corporate interests. The military-industrial complex promotes and benefits from war. War leads to the destruction of lives and property. The costs of war are often borne by the poor and working class. War is a tool used by the wealthy to maintain power and control. Politicians and corporations profit from war at the expense of the public. The military is often used to advance the interests of corporations. The true costs of war are hidden from the public. War is glorified and romanticized to justify its horrors. War creates a cycle of violence and destruction. The arms industry profits from selling weapons of war. War leads to the concentration of wealth and power. War diverts resources from social welfare programs. The propaganda of war is used to manipulate public opinion. War enriches the few at the expense of the many. War is a means of exerting control over other nations. The military-industrial complex perpetuates a culture of war. War is used to distract from domestic issues. The true motives behind wars are often hidden from the public. War leads to the erosion of civil liberties. The military-industrial complex perpetuates a cycle of war and profit. War leads to the displacement and suffering of civilians. The financial costs of war are staggering. War enriches corporations that profit from reconstruction efforts. The military-industrial complex influences foreign policy decisions. War creates a culture of fear and violence. The true beneficiaries of war are not those who fight it. War perpetuates a cycle of violence and revenge. The arms race fuels the profits of the military-industrial complex. War is used to justify the expansion of military power. War leads to the destruction of communities and cultures. The human costs of war are immeasurable. War creates a climate of insecurity and instability. The military-industrial complex undermines democracy. War is used to justify the erosion of civil liberties. The arms industry profits from selling arms to both sides of conflicts. War is used to justify the suppression of dissent. The military-industrial complex perpetuates a cycle of war and profit. War is used to justify the expansion of military bases. War leads to the militarization of society. The true costs of war are often hidden from the public. War is used to justify the concentration of power in the hands of a few. The military-industrial complex profits from the perpetuation of war. War leads to the destruction of natural resources. The arms industry profits from selling arms to oppressive regimes. War is used to justify the expansion of military budgets. The true motives behind wars are often disguised as noble causes. War is a racket that enriches the few at the expense of the many. These points reflect Butler's critique of war as a profitable enterprise that benefits a small elite while causing immense harm to society as a whole.
Fractional reserve banking, in which banks hold only a fraction of their deposits in reserve and lend out the remainder, has been practiced in various forms for centuries. However, it became more widespread and formalized with the development of modern banking systems. In the United States, fractional reserve banking emerged gradually as the banking sector evolved during the 19th century. The First Bank of the United States, chartered in 1791, and its successor, the Second Bank of the United States, chartered in 1816, both operated under fractional reserve principles. However, it was during the Free Banking Era (1837-1863) and after the establishment of the National Banking System with the National Currency Acts of 1863 and 1864 that fractional reserve banking became more prevalent. The National Banking Acts provided for the creation of national banks, which were required to hold a portion of their reserves in the form of government bonds but could also engage in fractional reserve banking. The Federal Reserve System, established in 1913, further institutionalized fractional reserve banking in the United States. The Federal Reserve Act empowered the Federal Reserve to regulate the banking system, set reserve requirements, and act as a lender of last resort, facilitating the expansion of credit and the practice of fractional reserve banking. Overall, while fractional reserve banking had roots in earlier banking practices, it became more formalized and widespread in the United States during the 19th and early 20th centuries, particularly with the development of national banking systems and the establishment of central banking institutions like the Federal Reserve. Courtesy ChatGPT