Fractional Reserve Banking is not the problem. Â Term Transformation is the problem. Australia and Singapore ban substantial term transformation, came through the recent financial crisis without problems.Â
Author: Jim
Capitalism dead in the USA, live in China.
After ordering Pax fired for political incorrectness, Anil, who simultaneously holds both governmental and private enterprise positions, is both regulator and regulator, dispenser of government funds and recipient of government funds, has a talk with Pax. Â I was pretty amazed that he went for it. He flat out said that he wants his startup to …
The loyalty oath
Reactionaries are wondering how to gain power – gain power against the existing Cathedral, with its no limit credit card, horde of purchased voters, and an increasingly unhappy but loyal army. I don’t see that as a problem. I see chaos coming. Power will fall into the street, hot, radioactive, dangerous, and desired, to be …
NIST curves backdoored
Gregory Maxwell on the Tor-talk list has found that NIST approved curves, which is to say NSA approved curves, were not generated by the claimed procedure, which is a very strong indication that if you use NIST curves in your cryptography, NSA can read your encrypted data. So don’t use anything NIST approved.
Northwest passage
I have not been doing much global warming blogging lately, since that seems to be an area, where, like socialism, everyone knows the ruling elite is lying, and their continued lying only embarrasses them.   When the climategate files came out, we had documentary proof that all the conspiracy theories about official science were true. Indeed …
RDRAND
Cryptography needs random numbers, numbers unpredictable to an adversary. Computers are built to be as non random as possible, so this is a problem. Intel created an instruction, RDRAND, that supposedly creates a random number on each read. This instruction appears to be backdoored by the NSA.
How not to be spied on
It looks as though the major NSA tricks are: Taking over routers using tricks similar to those botnet operators use to take over individual computers. Twisting the arms of major corporations to backdoor their products and share information, for example Skype. Encouraging the adoption of flawed cryptography with hidden backdoors through its standards arm, NIST. …
All your keys are belong to us
The official truth, which for once seems believable, is: because strong encryption can be so effective, classified N.S.A. documents make clear, the agency’s success depends on working with Internet companies — by getting their voluntary collaboration, forcing their cooperation with court orders or surreptitiously stealing their encryption keys or altering their software or hardware. So, …
Cladistic analysis of neoreaction
As humans are bony fishes, and the Cathedral the heretical spawn of Cromwell’s puritans, the neoreaction is the heretical spawn of Libertarianism and anarcho capitalism. Consider for example the blog title Anarcho Papist. The Dark Enlightenment is libertarians mugged by reality, a libertarian who realizes that the eighteenth century was right about women, and Bull …
The Dark Enlightenment critique of Libertarianism
The problem with libertarianism is that it really only works if libertarian rules are generally enforced, accepted, and felt to be right, only works if other people practice libertarianism. What, then, do you do with the large majority of mankind that are disinclined to live by these rules, or incapable of living by these rules?