Debt Rattle September 15 2017

 

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  • #35944

    Juan Gris Portrait of the artist’s mother 1912   • Fed To Take Historic Leap Into The Unknown (MW) • Janet Yellen’s Right-Hand Man Is Hanging Up
    [See the full post at: Debt Rattle September 15 2017]

    #35945
    V. Arnold
    Participant

    Max is an economic entertainer; his wife Stacy is probably smarter, more savvy, IMO (and much better looking).
    If one is a playa; crypto is the best game in town, IMO.
    In economics, the macro is unfathomable and somewhat psychotic; the micro (personal economics) is fathomable and pretty straightforward; avoid debt; avoid banks (credit unions rule); avoid the markets (stocks), they’re a rigged game; avoid debt; first priority? Pay down/off debt, ASAP.
    The USD is the best, most powerful non-nuclear weapon in the U.S. arsenal; prepare to aquire stores’ of value that do not depend on the USD.
    Why? Because the world has awakened to that reality and is actively selling their commodities in other than USD, thereby undermining its reserve currancy status.
    Frankly, I’m not qualified to say the USD will lose its value completely, but it’s being attacked by the majority of the planet; so, I’m talking about safe hedges/stores’ of value that are not dollars.
    I believe my lying eyes…
    Cash, IMO is important, so don’t short having that as well.
    The best history of money I’ve read is David Greaber’s book; Debt; the First 5,000 Years.
    I have a link to a free audio version which is downloadable if anybody is interested.

    #35946

    Bitcoin is now below $3000. China regulator demanded all exchanges stop at the end of today, not Oct 1 as first reported. I still think there are too many puzzles surrounding crypto. For now, bitcoin feels more like Netscape, certainly not like gold (bad comparison in my view). The technology will survive and grow, but the tokens may not.

    Max is a smart cookie. He just gets carried away at times. His call to buy buy buy silver a few years back didn’t really go anywhere (either). But Nicole and I had some good times with them a few years ago.

    #35947

    Quite possible that China wants all escape channels shut, either because of the Party Congress where Xi must look like Great Leader, or because they’re planning a big crackdown (they may know the economy is really not doing well, i.e. debt levels). Or both.

    #35948
    V. Arnold
    Participant

    Max is a smart cookie. He just gets carried away at times. His call to buy buy buy silver a few years back didn’t really go anywhere (either). But Nicole and I had some good times with them a few years ago.

    Well then; Max and Stacey are a good time?
    That’s an interesting anecdote; but carried away? Often. Every episode?
    Sorry, he’s just a bit hyperbolic for my temperament…
    But then, different strokes for different strokes, yes…

    #35949
    tony smyth
    Participant

    Fintan O’Toole is by a long way the best Irish journalist around. Always love reading his work even if I dont always agree 100%.

    #35950
    Patricia
    Participant

    V.Arnold. Could I have that link to the free audio version of Graeber’s book please.

    #35951
    zerosum
    Participant

    Where are the Lies?
    In the omissions?
    In the misdirections?

    How high is space?
    https://www.science20.com/satellite_diaries/how_high_space-69753

    But those aren’t ‘space’. In the US, “space” begins at 80.4km (50 miles), or 264,000 feet. General international consensus sets a similar limit for the start of space as 100km (62 miles), or 380,000 feet.

    “Low Earth Orbit” (LEO), where many satellites live, goes from 160km (100 miles, 525,000 feet) to 2,000km (1,240 miles, 6.5 million feet). In LEO, we have some sample objects to look at.

    What is the orbit of space station?
    https://en.m.wikipedia.org/wiki/International_Space_Station
    The ISS maintains an orbit with an altitude of between 330 and 435 km (205 and 270 mi) by means of reboost manoeuvres using the engines of the Zvezda module or visiting spacecraft. It completes 15.54 orbits per day.[15]

    Can the missiles from North Korea destroy the satellites that are in space?

    https://en.m.wikipedia.org/wiki/List_of_North_Korean_missile_tests

    2017 North Korea launched a ballistic missile on September 15 from Sunan airfield. It reached a height of 770 km and flew a distance of 3,700 km for 17 minutes over Hokkaido before landing in the Pacific.[63]

    #35952
    V. Arnold
    Participant
    #35953
    anticlimactic
    Participant

    GREEN ENERGY
    It is easy to recognise Green Energy as it does not require subsidies. It produces more energy than it takes to create so will find no problems with investment.

    That leaves hydroelectric. If CO2 is your poison then arguably nuclear energy is ‘green’. Biodiesel from soya may also qualify but I am wary about turning food into fuel.

    I would argue that the basic cost of something is related to the amount of energy needed to create it. Even wages are spent on energy intensive items such as food, fuel and gadgets. If it needs a subsidy then you seriously need to question why. Does it require more energy to make than it produces? You may notice that subsidies often happen to make a few people wealthy, so is it just a scam? I certainly think so.

    #35962
    Dr. Diablo
    Participant

    Speaking of, N. Korea’s satellite has been up there, what, years? And we “still don’t know” if it’s an EMP? $600B budget, minimum, and U.S. boffins never figured out how to x-ray it, sabotage, disable it, etc? Russia has always been hardened against EMP, but now even have a EMP resistant cell phone…the Cook and McCain were cooked, broadsided while dead in the water motionless…we can take basic steps to harden our grid for $60B, profit a lot of pals doing it, told Congress in 2004, Pentagon isn’t interested, and nothing’s been done even now with N. Korean “war” imminent? Anyone else’s BS detector going off here?

    However, it’s easy to know they’re lying — everything that’s reported is a lie. What’s difficult is to know what the truth is.

    #35963
    V. Arnold
    Participant

    Dr. Diablo

    IMHO, there will be no war with North Korea; bluff and bluster from the Rump.
    NK has insulated itself from an attack by the U.S., by assuring the near total destruction of Seoul with conventional weapons.
    In a world of lies; the truth becomes obvious; it goes counter to everything mainstream; discretion required…

    #35982
    TheTrivium4TW
    Participant

    >>However, it’s easy to know they’re lying — everything that’s reported is a lie. What’s difficult is to know what the truth is.<<

    This is completely true.

    >>In a world of lies; the truth becomes obvious; it goes counter to everything mainstream; discretion required…<<

    V, while it is true the truth goes counter to everything mainstream, the truth absolutely is not obvious. I’ve been a purveyor of the Debt-Money Monopolist Mega-Corporate Supranational Fascist Empire TRUTH for years, yet only a precious few actually “get it.”

    I can prove that defining money creation as an act of issuing debt is a prima facie fraud using 5th grade math and knowledge of double-entry bookkeeping, yet few grasp the simple truth, let alone the implications.

    Ilargi is a smart gentleman. Has he ever even responded to the idea that the debt-based nature of money is prima facie fraud – even though I’ve been posting here for YEARS?

    Does Ilargi ever address the nature of our system being a Debt-Money Monopolist Mega-Corporate Supranational Fascist Empire?

    He doesn’t get it. And if he does get it, he’s lying through omission and covering up the ROOT CAUSE to the major problems faced by ordinary people today.

    So, no, the truth is NOT easy for people to comprehend. Even the “alt-media.” They play the role of “controlled opposition” better than anything else.

    And Steve Keen doesn’t “get it.” Well, that’s the best case scenario. The worst case scenario is that he does “get it,” but was warned to never discuss the prima facie fraud inherent in all debt-money systems.

    Graeber mostly gets it (his language is a bit opaque, like some of his cards are hidden), but doesn’t really hammer it home, nor does he really delve into the implications.

    #35985
    V. Arnold
    Participant

    TheTrivium4TW
    Point mostly taken. Generally people are lazy and do not understand responsibility (the ability to respond).
    Graeber is a historian, so he doesn’t get into the politics of money/debt.
    His value is a clear description of what money is and is not; as well as a great view spanning 5,000+ years.
    Graeber also busts the myth of barter as a viable economic system.

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