Gold has been great insurance against crisis and collapse for five thousand years. Now it ends. The gold bugs are whistling in the dark. Currently there is about ten trillion in gold value held in private hands, about one trillion in crypto currency, primarily bitcoin. So gold still dominates crypto currency by capital value. But volume of crypto currency transactions dominates volume of gold transactions, because it is a lot easier and safer to move crypto currency around than to …
Category: economics
The radicalism of the new regime.
Namefag Yarvin predicts fifty years of the Brezhnevian stagnation. I predicted that that revolutionary change would ensue as fast as Russia, where the Kadets were in power and then out of power so fast it gave them whiplash. I predicted that the Republicans would never win another election in America, and they just won some, falsifying my prediction. But … This is free money being handed out to friends of the federal reserve. We are not currently on the course …
Bitcoin time
I have been diversifying from Bitcoin to ADA, because I was profoundly unhappy with Bitcoins scalability, and with its implementation of the lightning network, and I recommended that other people do so. This turned out to be a bad idea. The bitcoin lightning network substantially eases the scaling problem for an order of magnitude or two growth, after which scalability is likely to start biting again. The bitcoin lightning network’s problems appeared to be insoluble to me, because of the …
Gold, crypto currency, and hyperinflation
The fed is printing a pile of money, and what is happening to that money is as obscured and obfuscated as the claims about inflation. We have for some time been seeing shortages of critical products, typically special products with sticky prices. A contractor cannot get his final payment for lack of a three hundred dollar part, and goes bankrupt. These shortages are increasing and we are now starting to see shortages of basic products, the most basic of them …
The left vision of the Eschaton
The left want to immanentize the eschaton. How exactly? What will the immanent eschaton be like? This is to them a minor detail that can be dealt with after they have swept away the old order, like the Khmer Rouge plan for revolutionizing and radically increasing rice production. The Khmer Rouge had, unlike our left, a vague glimmering of plan: They would revolutionize and radically increase rice production on the flood plain by centrally planning the flow of flood water …
Lockdown
Wu Flu is off topic, but the holiness and lies surrounding Wu Flu is on topic. What South Korea did is the application of Germ Theory to control a pandemic. What we are doing is the application of Germ Theory to justify the same agenda as Green New Deal and anti capitalism was proposed to justify. What South Korea did, worked, and did not require the shutdown of society and the economy. South Korea used testing to lock up the …
Warriors, Merchants, war, markets, and capitalism.
From the time of Xenophon to the Crimean war, every long distance campaign by westerners had a free market following the camp and the march. Every single man in the army fought, and the camp followers fed them, clothed them, and armed them. Alexander, fighting a long distance campaign, had ten camp followers for every soldier, but every man in Alexander’s army fought in every major battle, including Alexander himself, and every man close to him. Socialist war is an …
Draining the swamp
“Bring the jobs back†Done “Build the wall†Started “Drain the swamp†Starting Trump, because Biden is the most electable Democratic Party candidate, drew attention to the fact that Biden used taxpayer money to shut off the light on his families corruption. So, naturally they accuse Trump of doing what Biden did, and are now attempting to impeach him for it – which draws further attention to what Biden, and other Democrats, and the assorted ngos closely connected to the …
Brexit
I have been ignoring Brexit, because the EU is just a provincial subject state of the USG State Department Empire – but Brexit in the age of Trump is turning into an independence movement from that empire. The Turkish empire turned into the anti Turkish empire, and the Turks, not the provinces of empire, revolted against it. Purported provincial independence movements were a reflection and result of Kemal Atatürk’s central revolt of the Turks against the (anti)Turkish empire, and the …
Analysis of a Chinese video
You will never see courtship realistically portrayed in videos made for the west in anything made since the sixties, but they are still allowed to do romance realistically in China. Episode seven: Hat tip Spandrell. At 1:12 the pre fertile age chick is trying to attract his attention while simultaneously directing an expression of disdain and boredom at him. Obvious fitness test, which means she is after him. If a chick does this to you, you have to pass her …