Professor Antal Fekete (Austrian school of economics) on bubbles (commodity debt v sovereign debt): "The quality is going down and this can be ignored, because only the quantity of money, trying to jack up the quantity of money hoping this will prevent deflation, meaning falling commodity prices, but the central banks don't control how people spend the money. They can print as much as they want, but they cannot control how people spend it."
In a nutshell there's yer problem. Keep printing until it goes tits... if "we" don't care that things are getting more expensive and the social divides become wider, then nothing will change. The stupidity of those espousing that financial policy can achieve that which we "need" (what is it trying to achieve again?) is nothing more than short term thinking, and that's a FACT!
Max reckons that "real competition and real growth" is required in order to set the good ship earth back on track... I reckon that's nothing more than kicking the can down the road and is antithetical to real sustainability.
I didn't think!!! I experimented!!!
I didn't think!!! I experimented!!!
Fuck 'em all. Stupidity will always be stupidity if stupid people are allowed to make decisions that drive us towards a society driven by fear of "loss", be that data or financial. Get rid of all internet security, in fact make it law that if any entity is caught implementing some form non transparent data protocol they should be shot without hesitation or trial. Fuck 'em.
I didn't think!!! I experimented!!!
you have five min of pure ogasmic pleasure to choose your next elected figure
choose carefully , they will remain in the halls of power until their dyin day
Stephen
"Look, Madame, where we live, look how we live ... look at the life we have...The Republic has forgotten us."
The guy isn't meaning open access internet stuff, he means if they get the physical item PC/phone/etc they want to have a way to access the data. This makes sense to me because they should get a warrant to do so, in which case there is very strong suspicion already there. I don't read it as a push for ongoing surveilance or anything like that, data storage encryption is is different from transmitted data encryption.
Do banks have the authority to print money now?
Fact is, 100,000 years, 5,000 years, 2,500 years are not usually time-lines associated with the phrase, short term
"The use of barter-like methods may date back to at least 100,000 years ago, though there is no evidence of a society or economy that relied primarily on barter.[11] Instead, non-monetary societies operated largely along the principles of gift economics and debt.[12][13] When barter did in fact occur, it was usually between either complete strangers or potential enemies.[14]
Many cultures around the world eventually developed the use of commodity money. The shekel was originally a unit of weight, and referred to a specific weight of barley, which was used as currency.[15] The first usage of the term came from Mesopotamia circa 3000 BC. Societies in the Americas, Asia, Africa and Australia used shell money – often, the shells of the cowry (Cypraea moneta L. or C. annulus L.). According to Herodotus, the Lydians were the first people to introduce the use of gold and silver coins.[16] It is thought by modern scholars that these first stamped coins were minted around 650–600 BC.[17]"
"A shark on whiskey is mighty risky, but a shark on beer is a beer engineer" - Tad Ghostal
Does he have a NZ accent?
Oh well at least they are multi cultural
http://www.memri.org/clip/en/0/0/0/0/0/0/4553.htm
Stephen
"Look, Madame, where we live, look how we live ... look at the life we have...The Republic has forgotten us."
Yes.
Originally Posted by bogan
things change... apart from the financial system that is.
I care not whether people barter or not as it's entirely their choice.
And yet here we are... debt up to the eyeballs, war, poverty, social unrest etc... all because Many cultures around the world eventually developed the use of commodity money. Call them side-effects iffen ye like, but it's seen it's day and it will change. With any thought we'll start heading towards an R.B.E. with any new financial policy, but alas, that thought is not forthcoming.
I didn't think!!! I experimented!!!
Example please? I suspect you are meaning Fractional Reserve Banking, rather than the creation of currency notes/coins.
No, the law would be the implementation of the idea. The idea that under given circumstances pertaining to justice (ie, same conditions as per warrants to search premises') the authorities should have a way to access a suspects information. Before computer encryption this was a non issue as the information was accessible by said warrant; and has indeed been of great use. Now that things can be encrypted by default, it makes evidence gathering that much more difficult.
In my opinion it is the by default that is the issue here, ciphers and encryption has been around for a long long time for sensitive data, and always will be. But not only giving people the tool for doing that with the most mundane data, but by turning it on too, will hide a lot of things that stupid criminals would otherwise leave accessible and could be used as evidence to convict or prevent crimes.
"A shark on whiskey is mighty risky, but a shark on beer is a beer engineer" - Tad Ghostal
I dunno where you are but in everyone else's world there's been less war, poverty and social unrest in direct proportion to the unprecedented success created by democratic capitalist economies.
So if you insist that there's a relationship between evel money and bad shit then I got news: No money = dark ages. Successful monetary economy = good times.
Let 'em roll.
And if you can't find that fact amongst your thoughts then you should probably stick to your fantasy world and let the grownups handle the real one.
Go soothingly on the grease mud, as there lurks the skid demon
I didn't think!!! I experimented!!!
Fractional reserve banking is indeed different, as the fractional reserve target limits how much the money is leveraged (plucked out of thin air). For a fractional reserve of 20% you have a money multiplier of 5x across all banks, ie, 1$ of real money deposited can only ever be lent out to 5$ value. FRB is probably the part of the financial institution that has gotten the most carried away and courting of disaster. But interestingly, if we all cooperated, or if resources were plentiful, or any other W.B.E foundations were a reality; we could maintain a fractional reserve of <1% easily.
"A shark on whiskey is mighty risky, but a shark on beer is a beer engineer" - Tad Ghostal
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