Silk Road servers stored all messages in the clear forever. The government placed malware on Tor exit nodes, located the Silk Road servers, raided servers, game over. Private messages should have been end to end encrypted, existing in the clear only on the computers of the sender and recipient, and should have been deniable, except for messages containing money, where the sender needed to be able to prove that the …
Category: economics
On Fractional Reserve Banking
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
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 be funded and wasn’t sure if it’d be possible after all of his, and I …
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 Conner right about blacks.. An anarcho capitalist favors a free market in law and defense …
Radish nails libertarianism’s race problem
Libertarianism had its one brief shining day in power in alliance with the anti racist, anti slavery brigade, was swiftly kicked out of that alliance, and has been beaten over the head with race stick ever since, despite endlessly begging to be allowed to renew the alliance. Since then, the only times it has ever gotten anywhere is in alliance with the “racistâ€, aka white, faction.
On Funding Science
Funding science is not a job that government can do, due to diseconomies of scale, and because government is inherently a religious organization. It winds up funding pseudo science, thus damaging real science. The patron has to know and appreciate that field that he is patronizing, and has to personally gain status from the success of his clients. Otherwise he has the wrong incentives and the wrong knowledge, so patronizes …
Keynsianism manufactures its own truth
Nigel asks: A problem is over-reliance on foreign work to produce goods. The jobs that are left here are service jobs and managerial jobs. … Did we get this way by free trade or by government intervention? In “Death of the Doctorâ€, the virtue of a character is proved by that character having traveled around protesting: …he’s picketing an oil rig… …you’re fighting oil barons and factories… Fighting factories. Not …
The Keynesian Fallacy
The Keynesian fallacy is not that Keynesians believe that governments can stimulate. Of course governments armed with fiat money can stimulate. Look at Argentina! Look at Zimbabwe! Look at the Wiemar Republic! The Keynesian fallacy is that Keynesians believe that turning labor into goods is easy, so excess demand will mop up excess labor, resulting in the expected level of production. Some of the conditions required to turn labor into …
The cause of social decay
Prosperity is not the problem. Many great nations have declined before we did, showing much the same symptoms as we are showing, and none of them were as prosperous as eighteenth century America. I suggest the root of civilization is patriarchy. Firstly, patriarchy with monogamy gives men posterity, and civilization is what men build for posterity. In a society where most men do not have children or do not know …
Marriage, supply and demand
The old deal, legally enforced before 1857, and socially enforced before 1960, was that a man got: The role of head of household. Marriage for life. Not to be denied sex by his wife. A bride who gives him her youth, virginity, and submission. This gave all males a powerful incentive to build civilization for their posterity, to invest in the future and in themselves. The deal has been endlessly …