The state cannot tax beyond the Laffer Limit forever, and it cannot run enormous deficits forever.
We have more urgent fish to fry than the deficit — nothing is going to be fixed until the deep state is behind bars and there are tanks in Harvard, and I suppose our enemies feel even less urgency about the deficit, more important to them to kill all “fascists”. Indeed right now they are confronting Trump on the principle that we should be printing even more money and giving it to illegals.
If we don’t get the deep state behind bars and tanks in Harvard fairly soon, country is going broke. And thus, the Great Debasement Trade. Markets are starting to bet on the US$ going away.
In the past 365 days, gold and bitcoin has risen relative to the dollar by almost the same amount
But, there can only be one. Bitcoin is the one true crypto currency, but gold is gold. And now the end game is coming in sight.
Gold has the huge advantage over Bitcoin that every central bank wants to use gold because every other central bank has gold. And right now, Gold is probably a better investment. But in the long run, Gold has the huge disadvantage over Bitcoin that it is hard to move it around safely, and hard to store it safely. In the long run, Bitcoin will replace Gold and the Dollar for international settlements, which will lead to an approximately ten fold increase in the value of bitcoin.
As for right now? If you are continually moving money around in the market place, probably wisest to invest in gold — but given that you are betting on the apocalypse, if your bet pays off, paper gold is going to go up in smoke. So you probably should not bet on being able to move money around in the market place indefinitely without it being stolen. So you would need to buy physical gold and bury it somewhere. And when the apocalypse happens, probably even harder to dig it up and move it around.
So, move fiat dollars into bitcoin rather than gold, even though in the next couple of years, it is likely that gold will appreciate considerably more than bitcoin.
You will probably get more appreciation during the next year or two on your investment funds at the broker if you put them in a gold etf than a bitcoin etf — but when the proverbial hits the fan, the government will probably introduce a retroactive tax on nominal capital appreciation, which by that time will be running at a thousand percent a year, and the government will insist that even though you have invested in gold and bitcoin, you can only withdraw in dollars, and you are going to find that no one will give you eggs for dollars. If it is a choice between a gold etf and a bitcoin etf, the gold etf is probably going to appreciate more over the next year or two, but they are both likely to disappear.
A bull market in gold and bitcoin is a bear market in trust.
If it is a choice between physical gold buried in a hole in the ground and bitcoin in cold storage in a paper wallet, well, bitcoin in cold storage is a lot more convenient than physical gold in a hole in the ground.
Own some crypto with Coinbase, but haven’t a clue yet on how to select/use a cold wallet. Some research ahead, I guess.
I’ve repeated that owning a bitcoin etf is very different from owning a bitcoin wallet for years now, to everyone who wants to hear it. Not too many people, unfortunately! Well they hear the argument and tend to even agree with it, but pff, setting up a wallet, that sounds difficult. Sloth’s a killer.
Markets are premature. The GAE is going to squeeze every last drop out of its vassal states long before the dollar starts its real decline. Despite everything, there is a lot of ruin left in the outer empire, and they will collect every last bit of it.
Lots of potential loot should we manage to install a friendly client in Venezuela. The cost to do so may be relatively insignificant as well. Paired with cutting off expensive fringes of the empire, would go a long ways to kicking the can down the road.
This is interesting. It is a new thought to me. Right-of-center Americans have daydreamed of installing a friendly client state in Panama for obvious reasons, and there was a time when Americans dreamed of Cuba, but I had not considered adding Venezuela as an imperial territory.
Hypothetically, how would you appraise the cost to the United States versus the benefit? Some would die, as far as I know, so I do not ask lightly.
Well, it’s hypothetical and this is just a blog, so I suppose that I do ask lightly.
On its face, this seems a sound point.
Yes, but it’s a somewhat higher quality — albeit orders of magnitude smaller in scope — Antiversity than Right Twitter or Right Substack, though I’m not super familiar with the latter. Well, in all modesty, it’s the beginning (of the beginning) of the Moldbuggian Antiversity. The Kernel.
Also, it’s my opinion that the Fundamentals are pretty much established. Fine tuning and sanity checks may still be needed, but the footing is solid, and the egregore itself is already expanding beyond this comment section.
When Nineveh repented, the book of Jonah tells us, the calamity was averted. An imminent collapse cannot be averted, in my judgement, but a far-off collapse probably will be averted. The Event is either soon enough, or not at all. Look at the NO KANGS protests. Look at the Kaplan protests. It’s all elderly libtards. Dude, Satan is in retreat. He either surprises us with something terrible soon — that’s the character, after all — or we are probably on the path to victory.
Your idea of what Repentance — process or destination — might look like possibly differs from mine. I’m super moderate, beneath all the shamanic sperg outs. I believe in this (Ezekiel 36:26):
And this (Luke 17:21):
The new social structure will not create that. Rather, it will follow that. This might not be perceptible at first. There might not be any great social upheaval going 180 degrees from Satan to God, but a gradual re-orientation. Because first the heart repents, and then everything else follows from that. All we can do here, ultimately, is point the way to Repentance.
There may not be literal “tanks in Harvard.” They may simply not be needed. Harvard has lost its relevance. Harvardism was the state religion of the current ruling class, but that ruling class is looking for a new faith, and that faith is (now becoming) accessible for all – you are looking at it. Novel medium. Very Protestant. Sure, eventually there will be institutional formalization of some sort. (And helicopter rides, metaphorical or literal.) But the institutional formalization will follow the Repentance, not the other way around.
“One day you wake up and everything is different” is, in all probability, the collapse scenario; gradually – then suddenly. The Repentance scenario is not like that. The heart (of all humanity; its ruling classes in particular) does not change in a single day or a single decade. Moldbug, a beep boop engineer, is wrong about this. Human civilization in the 21st century AD — what we seek to Restore — is much, much vaster than Nineveh in the 8th century BC was, and far more complex. History may be accelerating, but going Full Retard about it is wrong. You may in fact already experience the beginning of a (calamity averted) Restoration Timeline. Doomerist panic may indeed be unwarranted, no matter how much dopamine the prospect of FIRE AND BRIMSTONE provides certain e-brains motivated by barely-concealed boredom with their boring private lives.
The extent to which some posters here overestimated (and still overestimate) Iran, for instance, may be indicative of the extent to which they overestimate many other things.
We’ll see soon enough, though. (Preliminary) repentance has commenced. The ball is now in Satan’s court, as such. The Event will happen soon, or it will not happen. That’s my prediction.
Another de-radicalization pill for you, Ove, might be this:
If it sounds too much like online/boomer capeshit, it probably is online/boomer capeshit. Even if yours truly wrote it.
Then again, there are also a bunch of NGOs and other funds close to home that should be liquidated. Not only are they funding leftism, they are a general drag on the economy.
What does debasement mean for stocks? There is still inherent value in owning a slice of productive industries and demand, which may decline in economic downturns, remains so long as humans have needs and desires. Would not a shift to bitcoin simply mean a revaluation of stocks to the new currency? As such, I still see reason for inveating in the markets if only as a means of diversifying wealth. That said, the million
dollarbitcoin question is: what industries?When a government runs out of credit, it will inflate and tax everything it can. Any assets you visibly own will be taxed for nominal capital appreciation. Germany has done so several times, and the laws kept getting harder and harder to dodge. I expect the next equalisation of burdens act (Lastenausgleichsgesetz) to be even harder to dodge.
Gold buried in a hole in the ground and bitcoin are not visible. Very difficult to tax. Real estate and stocks are very easy to tax. The government can tax such such things way above the Laffer limit or even confiscate them entirely.
Unfortunately it is still difficult to spend gold or Bitcoin on local transactions; if you have to convert it to fiat before being able to use it, then that will be taxed as a capital gain, also far above the Laffer limit.
Of course the bet is that the dollar goes away entirely, or becomes entirely worthless, making way for hard currency to be exchanged directly for goods, or surreptitiously traded for spot-priced fiat by corrupt officials who won’t ask where you got it as long as they get a cut. The question for a lot of people is “when”, because being early is the same as being wrong.
My opinion is still to treat it as a hedge, and only invest funds in gold/crypto that you know you won’t miss for at least 5-10 years. There are exceptions, such as the international transactions Jim talks about requiring non-dollar currency as a lubricant; but if you’re just an average dude, then liquidity still matters in the short term, and you don’t want your name getting bumped to the top of the future shakedown list by having to “sell” rather than “spend” those alternate currencies before the crisis manifests. Your hole in the ground might be safe, but are you?
“Of course the bet is that the dollar goes away entirely, or becomes entirely worthless, making way for hard currency to be exchanged directly for goods, or surreptitiously traded for spot-priced fiat by corrupt officials who won’t ask where you got it as long as they get a cut. ”
Part of the reason I’m very bullish on silver. Gold is too valuable for small transactions and prone to robbery in low trust societies… silver coinage makes way more sense as a trade coin.
Anyone willing to rob you to get your gold, will also rob you to get your silver
Greetings,
You mention bitcoin, gold, real estate. There are alternatives to storing wealth that fly under the radar. Collectables, art, classic cars, jewelry, Rolex watches, firearms, musical instruments.
I have a pretty nice collection of cars and guns. They will always have value, are not taxed excessively, and I can enjoy them.
In the United States, gold and Bitcoin are taxed only when spent. At that time, they are taxed for capital gain.
If tax-evasive, black market spending of gold and Bitcoin in the United States surpassed a volume Congress deemed tolerable, then Congress would presumably authorize the president to dispatch men with guns to enforce the tax.
Jim speaks of the Laffer limit. Laffer is right but some think of his limit as a limit on taxation. I suggest thinking of it instead as a limit on spending. Both ways of thinking can be correct but to think in terms of spending is probably less confusing.
No, they are taxed on gains, i.e. when sold for a profit. It is not a sales tax, it is a capital gains tax. Direct “spending” is generally treated as an asset sale because all the mainstream cryptocurrency merchants such as Bitpay are just doing spot-market conversion to the dollar, similar in some ways to Visa handling a foreign currency.
This system seems unsustainable long-term, particularly in the (hypothetical) scenario that crypto starts to be exchanged directly for goods and services without any dollar conversion involved, because at that point, how does one estimate the taxable amount? The government might then try to impose a perfectly ordinary sales tax in Bitcoin, which actually would be what you describe; this would probably be very leaky, but even if successful, would be tantamount to an admission that the dollar is dead/fake and that Bitcoin is the real currency, so there are a lot of excellent incentives for the government to avoid this outcome for as long as possible.
It is a catch-22; either tax Bitcoin like a security (technically a “collectible”, like art), and miss a lot of black-market activity, or tax it like a currency and immediately lose all the benefits of having the USD as a global reserve.
Both ways are not correct. It is taxation, not spending. Even Wikipedia gets this, and Wikipedia treats KFM/MMT as gospel.
From the point of view of the taxed–whether entrepreneur, investor, wage cuck, or what have you–it makes no difference whether 50% of your income gets spent on abortion clinics and troon-affirming surgery, or goes straight into a locked vault. Either way, you don’t get to keep it, which means you have less incentive to work for it in the first place.
If you had a 100% income tax imposed on you, would you work? Not unless it was at gunpoint. In the context of the Laffer curve, doesn’t matter where the money ultimately goes.
It might be rather more offensive to normal Americans that their money gets spent on frivolities, on a culture war being waged against them and on benefits for retired boomers who already borrowed heavily against their posterity to fund their hedonistic lifestyles in their youth–but that has relatively less impact on tax revenue as it does on social trust and political legitimacy. Which arguably does have an indirect impact on tax revenue, but it’s not what the Laffer curve is about.
It *does* make a difference though. Especially at the scale of government. What the government uses money for matters, because money is purchasing power, and exercising purchasing power decreases it for everyone else.
If you something, its supply decreases, and therefore its price rises. The government buying things increases prices, and it also often constitutes malinvestment which reorients the economy towards doing unproductive things.
If a million people are hired in the useless government bureaucracy, it’s not just that “money” is being wasted, and it’s not just that it does damage on its own. It also means that 1 million people and the resources they consume are tied up in useless labour, it’s a cost to everyone ultimately. It raises the price of labour and the price of goods with no real benefit.
Each of them could’ve been doing something more productive, working for a company that creates actual value. If the government merely burned the money it taxed we’d be better off. That would have the effect of increasing purchasing power, rather than decreasing it like spending does.
The federal government of the United States does burn the money it taxes, though. The very purpose of federal taxation is to burn the money. To burn the money is the principal point of a federal tax.
To put it more soberly, in a fiat system, the chief function of taxation is to restrain inflation by retiring excess money from supply.
I realize that there are complex, obscuring details whereby money gets shuffled around from one federal account to another so that, if one looks myopically at the Treasury General Account while disregarding the Fed’s balance sheet, a cheap illusion is maintained that taxes funded federal operations; but, of course, taxes don’t. Not really. If taxes did fund federal operations then the federal budget could not possibly have continued to run the large, persistent deficits it runs.
The solution is: burn the money; then print more; and pay attention to inflation while you do it. (Jim says that the official inflation numbers are fake: I have no comment about this. Jim also makes some points about seigniorage but if you have read his earlier remarks then you already know about those.)
Just so.
“More soberly”, he says, as if this is a totally normal and uncontroversial belief to hold, and not the barking mad worldbuilding of the central planning cult.
You really do believe that inflation just happens, or is the natural and inevitable result of the productive use of capital. You see no inherent contradiction in a government printing more money than it “retires”, then asserting that taxes must be raised ever higher to compensate for the inflation that is caused by too much money in circulation. Somehow, this process is going to be self-limiting, despite the lack of any mechanism to limit it, and the 90-year track record of unconstrained concurrent debt expansion, tax expansion and productivity decline indicating that it has no limit.
Well, it is one thing that you believe it. It is another that you repeatedly sail on as if we believe it. We say that inflation is caused by the government’s fiscal policy, not prevented by it, and that programs and entitlements dependent on unfunded liabilities will eventually collapse, as they did in every socialist regime. If you want to argue otherwise, then do so without invoking circular logic requiring everyone to believe the axioms of MMT without question, because otherwise it is simply a noisy waste of everyone’s time.
Fascinating–again, you really seem to believe that the statement “taxes fund federal operations” implies ignorance of debt and devaluation mechanics, and therefore betrays the ignorance of the budget nominalist who simply needs to be educated in the wonders of MMT that enable us to escape the confines of such boring reality.
It never occurs to you that the statement is normative, prescriptive. It is the same sort of tunnel vision as would be responding to us saying “marriage is between a man and a woman” with an admonition that “obviously that can’t be true, otherwise we wouldn’t have so many gay and lesbian weddings”. Completely missing the point.
The reality of debt systems and mass taxation is it has always been a system of massive theft and wealth transfer away from the enemies and outsiders of the system to the insiders and their friends. Debt based currencies are evil (even if fiat currencies are not per se intrinsically evil or at least as evil) and mass taxation and really taxing anything but unimproved land and foreign trade is evil.
Neurotoxin’s law: Sooner or later, every leftist uses the phrase “of course” in the context of a bald-faced lie.
No one has ever claimed that taxes are the only way that government funds its expenditures. Other methods are borrowing and printing money.
If the government didn’t have any tax revenues it would have borrow even more than it does. That is because taxes are one of the ways that governments fund expenditures. I say this not because I believe you don’t already know it – I’m 98% sure you do – but because I want you to know that we know it.
In other words, cut the crap.
Neurotoxin’s Law: Sooner or later, every leftist uses the phrase “of course” in the context of a bald-faced lie.
No one has ever claimed that taxes are the only way that governments fund expenditures. They are one of the ways. If the government had no tax revenue then it would have to borrow even more than it does. That’s because taxes are one of the ways that governments fund expenditures. I mention this not because I think you don’t know it – I’m 98% sure that you do – but because I want you to know that we know it.
In other words, cut the crap.
You are arguing that unwise and unproductive spending in proportion to taxation (as opposed to in significant excess of it, which is a separate, hidden, seigniorage tax) has knock-on effects that further reduce productivity; that is, they distort the Laffer curve, exaggerating its effects.
OK, I can agree with that. However, if one make-work job is funded by taxes collected from several productive individuals, then the wasted opportunity cost is far less significant than the productivity loss from distorted incentives.
In essence, the Laffer curve is making a statement about dollars, and these questions of spending change it by pennies or perhaps dimes. It is just not all that salient, and I’d rather ignore it than go down the slippery slope of “maybe excessive taxation is OK if the government spends it wisely”, because that does not lead to a happy place.
Cominator:
Perhaps so, but my experience has admittedly been more favorable than yours.
Or maybe I have merely managed to position myself as an insider or as a friend? Well, maybe indeed. It doesn’t feel that way, though.
God-tier double entendre right here.
I would think any sort of antisemite would generally regard a debt based system as evil as the original indictment of the jewish people was that they were predatory usurious lenders as indeed in the middle ages they were (though by necessity as their professions were highly restricted though they were also allowed to do medicine because jews tend to make an overall very favorable impression in medicine, as even Hitler himself basically admitted by saying his mother’s jewish doctor was a noble jew and giving him special protection and making sure he got to leave Austria with all his assets).
Making a whole currency based on debt is by necessity a massive system of theft and it can only occur naturally with a system of mass taxation, you cannot have one without the other…
https://www.youtube.com/watch?v=L11EprAtQf0
These words annoy me because they reverse cause and effect. Fiat currency is not based on debt, it’s based on paper notes and numbers in the central bank’s computer, and could exist even if no one owed anyone anything. Fiat currency encourages governments, corporations, and individuals to take on a lot of debt in the expectation that inflation will help them pay it off, or possibly even wipe out their debts entirely.
No the US dollar is not a pure fiat currency like Lincolns greenback it is a currency where the US dollar borrows money from the fed for every dollar it prints so calling it a debt based currency is accurate.
“the US dollar borrows money from the fed for every dollar it prints”
Wut?
Neurotoxin:
Bully away. It’s just a blog; I think I’ll be all right.
Personally, however, except for the corrupt, privileged access enjoyed by BlackRock, Silicon Valley Bank and probably some other firms about which I do not know, I believe that the biggest troubles with the U.S. monetary system have been (i) the federal government’s frequent imposition of international financial sanctions, (ii) insufficient federal taxation of incomes over $10 million, and (iii) insufficient duties levied on imports entering the United States. President Trump is striving to mitigate at least the last trouble and sentiment exists in Congress to do something about the income tax, so I have little complaint on the whole. I think that the U.S. monetary system is pretty great.
I doubt that many others in these precincts are likely to join me in thinking that the U.S. monetary system is great, and that’s all right. However, even if one wishes to reform the system, or to replace it with nonstate crypto or whatever, one should understand first how the system actually works.
Cominator:
I don’t really have a comment on the Jewish angle—except for what I have told Neurotoxin regarding BlackRock and Silicon Valley Bank. Were I in Congress, I would restrain usury by liberalizing bankruptcy. Were I on the Fed’s board of governors, I would restrain credit by using open-market operations and, if necessary, IORB to raise rates.
If I elaborate by trying to talk about the Basel accords I’m going to lose my audience, but let me just say that if Basel is a Jewish conspiracy, I am unaware of the fact.
I had not known about Hitler’s mother’s Jewish doctor.
Do you believe me, now, Jim, about this guy’s attitude and motivations? Do you still think it’s in good faith? Did any of what he said sound like a response to Neurotoxin?
Aside from the constant implied superiority and gaslighting, this statement is actually false on its face. When replacing a defective and failing system–whether that system is a furnace, a computer system, a bridge, or a currency/banking system–it is not, in fact, necessary to understand all the details or any of the details about how the legacy system works, only that it doesn’t work, and what tasks the replacement needs to perform.
There’s a Chesterton’s Fence argument, but it is the modern fiat- and debt-based U.S. monetary system that tore it down in the first place; replacing it would be putting the fence back up.
These posts are all carefully worded to sound very polite, but they are simply the SJW’s Fallacy applied to monetary policy:
– You can’t criticize or debate it or until you understand it.
– I understand it, and you don’t.
– But I don’t have time to educate you.
– So I will just keep talking and ignore your objections.
Replace “hard currency” with “institutional racism” and “MMT/fiscal policy” with “diversity/intersectionality” and the flow is absolutely identical.
Anonymous Fake simply ignores and sails on. VK says “you are ignorant”, then ignores and sails on. Hardly an improvement.
Neurotoxin I thought everyone here knew this.
With Lincoln’s greenbacks (a pure fiat currency) the treasury printed the money and spent the money which it had directly debt free, But with the federal reserve system ever bill (at least those denominated a “federal reserve note”, coins are still minted debt free which is why one idea to retire government debt is making some trillion dollar coins) is not issued directly to the treasury to spend but rather the treasury borrows the money after it is printed. Its not hard to see how scammy and evil such a currency system is.
“Were I on the Fed’s board of governors, I would restrain credit by using open-market operations and, if necessary, IORB to raise rates.”
Raising rates is a horrible idea when you are in a debt death spiral… well unless you plan to use gimmicks to retire (monetize) the debt entirely like the trillion dollar coin I mentioned earlier. Would be very good for bitcoin, gold and silver though.
Cominator:
I understand your point, think it well grounded, and admit that you might be right. The key indicators are inflation and unemployment and Jim is correct: if the official numbers are fake then we’re all in trouble.
But people—not including you (and also not including Daddy Scarebucks who thinks he knows everything already)—get massively confused about sovereign debt spirals so let me explain for the benefit of members of the audience. A debt spiral is what happens to you and me, who do not issue the currency, when we take on more debt than we can service. It is also what happened to Weimar Germany which owed debt in gold. As far as I know, for a sovereign that issues its own currency by fiat, a debt spiral is merely a symptom of the sovereign’s consumption of resources beyond the Laffer limit. In other words, a debt spiral is a symptom of excess spending. Reduce spending, and the spiral goes away.
As long as spending remains under control, the Fed can always buy up the debt and retire it. Meanwhile, the bad thing about low interest rates is that low rates correspond to low returns on investment. Yet you are right to this extent: low rates are necessary to maintain full employment when returns on investment are low—and a major reason returns on investment are likely to be low is that the sovereign has been spending too close to the Laffer limit, consuming so much that resources left in private hands are too meager to fuel growth. (A huge number of well-meaning citizens get this wrong. They think it’s taxes that stunt growth, but it isn’t. Taxes are great because taxes kill inflation. What stunts growth in the medium and long terms is federal spending.)
It’s hard because we’re all too used to thinking of money in the way money works for you and me; but for the fiat sovereign, money works pretty much totally backward.
(I grasp the objection about the growing percentage of the federal budget that goes to debt service, but it’s not like that. It’s one of those totally backward things again. The comment you are reading is already too long, though, so we can leave the matter of debt service to another time.)
On moderation for unresponsiveness, stupidity, and stubborn ignorance.
It is not that we do not understand modern monetary theory. We understand it just fine, It is stupid, we explained why it is stupid, and you just sail right along.
Because of your stubborn obstinate arrogant ignorance, I will explain debt spirals of sovereign debt.
A fiat issuer can always inflate away its debt. It never has to default on debt denominated in its own fiat currency. Nonetheless, it often does. Indeed there have been more cases of a sovereign debtor defaulting on debt denominated in its own currency than sovereign debtors inflating their currencies to zero. Why?
Modern Monetary Theory tells us that this can never happen. And yet it obviously does
A fiat issuer in a debt spiral has the option of paying off its debts in completely worthless money.
It does not, however, have the option of paying the men with guns with completely worthless money.
Because if the regime prints too much money, it finds it increasingly difficult to translate money into goods and services. And among those services, the services provided by men with guns.
So we fairly regularly see regimes borrowing money in their own fiat at a high and rising interest rate, and having to offer higher and higher interest to get anyone to lend them money, because of the higher and higher inflation rate. And then the regime tells its creditors to get stuffed, suddenly bringing inflation right down, from levels so high as to make its money of limited use for paying the men with guns, to levels that are merely very very high.
Your response to all this is undoubtedly going to be that I am ignorant of modern monetary theory. Reality, however, is also ignorant of modern monetary theory.
@VKO
Riddle me this: if the MMT system is so very superior in allocating resources and maintaining employment, why is it that as a proportion there are fewer gainfully employed working age men today than there was at the absolute height of the great depression? Do not quote me unemployment numbers, I am talking about absolutes: (total employed men) / (total working age men).
Then, once you’ve answered that, explain the drop in per capita energy used in the US since the 1970s. If the economy were efficient, why would per capita energy usage for US inhabitants fall, while they rise globally? If your answer is “but efficiency”, my rebuttal is the simple “higher efficiency means greater returns on energy utilized, not a lesser total utilization.”
These are simple. Answer them straightforwardly or not at all. Of your belief structure has no answer for very fundamental questions of total employment and total energy usage, then it is worth nothing.
As a minor point of order, and possibly flogging a dead horse, I don’t think I know everything about MMT, and certainly don’t think I know all the Austrian School literature.
Rather, I know enough about MMT, and the Keynes/Fisher school in general, to understand that it relies on many premises with no basis in observable reality and some premises that flatly contradict observable reality; and that consequently, none of its claims, whether descriptive or prescriptive, can be trusted or relied upon.
I also don’t know everything about either astronomy or astrology, but know enough about each to conclude that the testable, verified claims of the former mean that the latter is based on assumptions that cannot possibly be true, and hence, isn’t very interesting and should be ignored.
One should not necessarily dismiss a hypothesis simply because it sounds implausible; but when it repeatedly makes failed predictions, and the body of work grows ever larger each year and begins to encompass ever more absurd, convoluted and often self-contradictory claims based on the same increasingly unreasonable first principles, it is time to throw the whole thing away. And if it further begins to claim that the solution to its own failures is ever increasing political, legal and financial backing for itself, with no benchmark for success, then it is time to forget about a polite shutdown and go directly to flamethrowers and sledgehammers.
We can say very similar things about Marxism, Freudianism, Social Psychology, Intersectionality, String Theory, Dianetics, Homeopathy, Frequentist Statistics and any number of other “intellectually very challenging systems that do not, in fact, have any truth content” (and yes, I’m aware of the source of that quote; at least his ideas have some value).
It is absolutely, 100% valid to evaluate these systems without a particularly in-depth study, and in fact, we must do so in order for society to retain any reason or sanity, because bullshit is infinite, and time available to study and refute bullshit is finite. All we need do is require the suspected bullshitters to make testable (and useful) predictions, and then test them. MMT fails that test. It is only able to fake a passing score, sometimes, by lying about the results, all the time.
So long, Jim, and thanks for the blog. It’s a damned fine piece of writing.
Tell the Cominator if you get a chance that I have enjoyed sparring with him.
Happy sailing.
Cominator: “Neurotoxin I thought everyone here knew this.”
The puzzling part was
“the US dollar borrows money from the fed for every dollar it prints”
Presumably the first “dollar” was meant to be a different word. “Treasury” maybe?
The Treasury sells bonds; this is how the federal gov’t borrows money. The Fed, in conducting monetary policy, often buys and sells those bonds. The Fed is forbidden by law from buying bonds directly from the Treasury.(*) The Fed must (mostly) buy T-bonds in the secondary market.
(*Except that if the Fed holds bonds that mature, it is allowed to buy an equal amount of bonds from the Treasury to replace the matured bonds.)
Exactly. Suspend payment on the national debt, print just enough money to pay the men with guns, and tell everyone else to get a fucking job.
Those who shamelessly promote liberal/socialist/MMT nonsense under their real names are responsible for the national debt, and will be made to pay it once the currency is stabilized. They will hand over all assets (some of them are billionaires!) and be sent to work 18-hour shifts in Chinese arsenic mines. They might be excused from work if they can bribe the guards with additional assets that the Cominator missed during his audit.
You are polite, so I am loathe to bullycide you. But you are trying my patience with this snake oil. Pull your head out of your ass, I mean, out of that MMT article.
Recent online Jewish behavior is annoying. Shapiro and his ilk demand that the Right distance itself from Nazis. No, that’s not the way to do it, fellow kikes. If you want the Right to like you, it would be much better that — absolute shocker right here — you actually behave in a likeable manner. For a start, I suggest using the New Testament as an instruction manual.
But they have a wrong image of Jesus as a leftist, holiness-spiralling, self-hating Jew. What they will need in order to accept Christ is to reimagine and reinterpret Him as a based, right-wing PATRIOT, whose goal was to save the world and save the Jews. Then, and only then, they might actually start following His instructions, and win over the Right from the Nazis.
Stop kvetching about Nazis and start being likeable, brethren.
Consider patriotic people like Captive Dreamer, Patrick Casey, Loki Julianus, Pascal-Emmanuel Gobry,
Auron MacIntyre[nah, screw that resentful potato nigger], and such. Will you make them like you by constantly whining about “NAZIS! NAZIS! NAZIS!” or will you make them like you by showing them that relations with Zionists/Israelis can actually be mutually beneficial?Shapiro, who’s demanding that the Right dissociate itself from the Nazis, is not actually advancing Jewish interests with his annoying behavior. He is just pissing people off. It’s always “What can you do for me?” and never “What can we do for you?” with these types. I mean, he’s not the worst of the worst, obviously, but still incredibly annoying. Well, that’s what you get for preferring the OT+Talmud combo to the OT+NT combo.
Hopefully, the newer the generation of Jews will be more Christian than the previous ones.
I’ll add to my comment here that, since God evidently (and Biblically) opposes globalism and supports ethno-states, the way to guarantee Jewish survival would be a collective, rather than merely individual, conversion to Christianity. Israel’s second biggest problem after leftism is the rapid growth of the Ultra-Orthodox, who are thoroughly anti-Logos and whose conduct is not unlikely to collapse the state. I advocate for a Based Christian Israel, the sooner the better, and I’d rather not imagine the kinds of horrors Jews would have to endure for them to finally start listening.
Jewish history is full of divine punishments. It’s also interspersed with individuals suggesting ways to avoid those punishments, which individuals and their suggestions tend to be contemptuously disregarded by the collective, with predictable results.
Mossadnik:
Yes.
I have known Jews a long time. My high school had more than a few secular Ashkenazim. No one here cares about my high school, of course, but I mention it because, at high school, I got along with the Ashkenazim fine. Most of the Ashkenazim even treated me well, one of them took me along once on a three-day weekend to the family cabin, and I cannot recall ever lending much thought to the difference between my Jewish and gentile classmates except that some of the Jews from time to time mentioned this bar mitzvah thing I did not understand. Whether they were recalling their own recent bar mitzvahs or were speaking of those of their younger brothers, I do not know.
There were a couple of Jewish freaks at school, but I just chalked that up to that they were weird. Only in retrospect do I discern the telltale behaviors.
At least one classmate could actually speak Yiddish, which was kind of cool. (Why was it cool? Because the classmate was likeable.)
The hottest girl at school was Jewish, I think. Or she was a mischling, more probably. I am not sure for, as I told you, I didn’t think about it and it wasn’t her standing under halacha that the other boys and I discussed in the locker room. One thing we did discuss however, besides the girl’s ample va-voom (which alone afforded plenty of grist for the mill), was an attorney in private practice that, in the afternoons, coached one of the school’s sports. The girl played that sport; we thought that he was screwing her and, indeed, he probably was. He was Jewish.
I did not become an antisemite until about the age of 50. Too many wars for Israel, too many rapacious Jewish billionaires, too much mockery by Jewish-operated media, too many Holocaust morality plays in television scripts, too much aggressive whining. And, yes, I have found Hitler an intriguing figure as long as I can recall, so that helped to push me over the edge. That and the U.S.S. Liberty, about which aging middle-American radicals would tell me from time to time, which eventually led to a growing suspicion that Israel had assassinated the Kennedys.
And Alejandro Mayorkas’ perfidy was too much.
Maybe that’s just me, but maybe I am not the only one. I am under zero illusion that Jews are likely to conform to my preferences but, when you recommend that Jews “actually behave in a likeable manner,” I can only, involuntarily nod in agreement.
Most ordinary Jews can do it. At any rate most ordinary, secular Ashkenazim can. I have seen them do it. I should know.
Well, I agree with most (not all) of that comment, and whatever disagreements I have are probably “non-essential.” I think that Moderate Paleoconservatives (whatever their view of various historical figures and events) are perfectly fine people. I sympathize with them.
You see Ovelund, a neurotic kike would kvetch about this, that, or the other thing you brought up here. I, however, only kvetch about what I consider to be “fundamental.”
Leviticus 19:17:
Neighbors/brothers or not, I rebuke when it’s needed, and try to avoid rebuking when I regard it as unhelpful, doing more harm than good. Sometimes it’s needed, though.
In fact, while I do disagree with some of the specifics here, I have my own critique of Judaism (not necessarily Jews as a nation, but of course there is a tiny little connection, lel) which a good-hearted, pro-social Hitler fan such as yourself might appreciate:
The religion reflected in the Old Testament contains many healthy elements, but also lots of superstitious oogah boogah. What the Rabbis have done wrong is twofold: They framed the good stuff in an over-elaborate legalism that strongly prioritizes the letter of the law over the spirit of the law (burying Divine Law under piles and piles of lawyerly debates); and they vehemently holiness-spiralled on the superstitious oogah boogah.
Now, Christianity is not totally perfect — Jim our Prophet wrote a post titled “Fixing or replacing Christianity” which has significant implications — but compared to Judaism, it is obviously superior, and in civilizational terms, it’s Christianity that gave birth to modern science and technology.
Note that my critique of my own Tribe here is not rooted in ill-will. I genuinely dislike the legalism and the superstition, but Jews have their good sides also, as you mention. Ultimately I do advocate for a certain separation, but preferably on amicable terms. (Maybe you should woodchipper the libtards, but not every single Jew is a libtard, albeit a majority in America are, so *trrrrrrrr* they go.)
We interrupt this Economics Convo to bring you the following Biblical message…
https://Angel.com/David
https://x.com/profstonge/status/1981800230673936743
While I don’t fap to German-language porn –Spanish, Portuguese, and sometimes Japanese are more my thing — I’ve always found Hitler to be an inspirational and fascinating figure.
I just love the charisma, the scowl (best scowl ever, I imitate it when autistically marching in the street or looking in the mirror after writing a terrific shitpost), and generally I admire people whose determination leads to great achievements. Seeing that now the Twitter Right is discussing Hitler, I’d like to point out that it’s perfectly legitimate and reasonable to enjoy Nazi aesthetics — the enchanting Pagan vibe, the Military Might, the awakened Survival Instinct — without necessarily agreeing to every single plank of the ideology, or for that matter to any plank thereof.
Since millennials and zoomers grew up slaughtering gorillions in video games and became spiritually desensitized, in the future nobody will give a damn about the Hall of Hoax; at the same time I don’t think these young generations, which are genetically quite Diverse (and therefore ‘tarded), are actually going “re-open Treblinka” or some such. For the most part, they’ll appreciate the Hitlerist energy, after all, the Uncle was definitely the most charismatic figure in the 20th century; yet non-ironic eliminationist antisemitism, outside the Pro-Palestine crowd, belongs more to the older generations, and perhaps to a few internet trolls with sadistic personality disorder.
Broke-ass incels just want pussy, y’know, “The only thing you have to lose is your virginity.” Hitlerism is much more an aesthetic than a serious ideology these days.
(By the way, Kevin MacDonald might have a point about how certain types of Diversity are (in the very narrow, short-term sense) Good For The Jews; but KMac-ism is wrong in two ways: 1. I don’t think it’s primarily Jews who are responsible for said Diversification (they play an outsized part in it, no doubt, but that’s not the same thing as being primarily responsible), 2. Anything to do with Mohammedans is not good for the Jews even in a narrow, short-term sense.)
(Also by the way, Andrew Anglin is one of the funniest people ever, I used to read him religiously, but it seems he really has lost the plot — and the audience — in recent years, which might herald the gradual fading of Internet Antisemitism. That, and the visibility of Stephen Goebbels Miller.)
We all have firsthand experience with the “problem” that Vance “dismissed” and Shapiro and his ilk are demanding “distance” from.
I would resolve this by promising to find and punish the “instigators” of the incident, because we all know exactly who those instigators are going to turn out to be: people with little to no documented history in the group, whose values don’t seem to align with the group, who don’t appear to have any good reason to want to be part of the group, and who were shouting “joo joo joo” from the moment they joined and who rarely if ever have anything else to contribute.
It is entirely obvious that the Republican party and its auxiliaries have a shill infestation, just as we are constantly attacked by shills and every other right-wing institution or platform is constantly attacked by shills. Trump/Vance/whomever could use this as a good opportunity to quietly clear out the entryists, while obviously leaving the dupes and innocent shitposters alone, and then appease Thermidor’s Jewish faction by proclaiming “the matter has been dealt with” because in fact it has; not to the satisfaction of the Neocon/Never Trump faction, of course, but more than enough to split them off from the rabble they like to agitate.
Jews are, institutionally speaking, hyperactive barking dogs who must always, always chase the Nazi Ball wherever it is thrown. It seems to be this compulsion that cannot be persuaded out of them and for all we know, cannot even be bred out of them. But to strain this metaphor to its limit, they can be shown that the asshole with the ball never threw it, and is still hiding it behind his back. “Antisemitism” is out there, yes, but most of it is astroturf, or only sincere on the left (e.g. the Pally Bros and their pet kebabs).
You’re not wrong about Shapiro’s archetype being very unlikable, or the fact that the Jewish faction needs to get its own house in order before criticizing any other; but that won’t stop the glowniggers, so from a realpolitik point of view, I’d rather pit the two against each other directly instead of having them both trample all the innocents trying to get things done. They deserve each other.
I don’t think isolated jokes in a leaked groupchat were bad actor shills because the jokes were isolated. I think the leaker 100% was a bad actor.
People who want to go on and on about how Hitler was awesome and they are the most pure of jew haters and anyone who disagrees with them including the j00 puppet Blonald Blumpf, definitely shills.
Yes, most and maybe all of what I saw in the leak was “meh”. Though I didn’t examine it in much detail.
I believe it is likely that some material wasn’t leaked, and that material will lead directly to glowies. Obviously they are not going to leak the evidence of their own instigations, but it can still be traced.
https://youtu.be/nMu3gu8NXX8
Curtis is in war mode, begging Don, anyone really, to actually grab power, because he knows we’re all fucked if not.
Bypassing the degenerate and inherently radical leftist FBI is a good start, but to actually grab power, it will be necessary to create a police organisation and spook organisation that is as inherently Christian Nationalist as the FBI and NSA is inherently bioleninist cultural communist.
This requires policy. [*deleted*]
No it does not require policy. It is policy. Personnel is policy.
ICE ICE Baby
Another huge blackpill from Yarvin. I don’t want to believe in his pessimism but I can’t really argue against what he says.
The only real silver lining I can find is that our own side is more united than before, and more people have realized what time it is. I don’t think Trump fully understands it, to the extent Yarvin does. I think Trump still believes in the Republic as it was, and in the American Tradition/Democracy memeplex that Yarvin condemns in this video. But he is closer to getting what time it is than he was before, and Republicans in general are moving in the right direction mentally.
I just think what is actually needed is a bridge too far for all of them. And I see no evidence of this not being true. They have been trying to slowly replace people and fix the government, which is unfixable, and they’re trying to hit at the periphery of the left instead of its center, not creating enough lasting damage that can’t be undone by the next president.
And at the same time, they have re-energized the left like never before, when earlier just this year they were at their lowest I had ever seen.
The latter issue I think Yarvin is a bit unfair in condemning though. Not only is it inevitable, but it’s also exactly what happened with Trump 2016. The lead up to it and the campaign essentially created the current culture war (off of gamergate) and the reaction/revenge from the left really started in 2017 after the election. All of the main tech companies got together and essentially banned the right wing from existing on all their platforms, establishing the censorship regime that kept expanding and escalating until like 2024, going further and further up the infrastructure stack.
At the same time the cancel culture regime kept escalating its demands of everyone and anyone, especially in conjunction with the trans nonsense.
This reaction (or rather counter-reaction) was blamed on Trump even back then by some people on our side, but I think that it was both inevitable if we wanted to do anything about the left at all, and it served a purpose of finally disconnecting the left from the reasonable people, and establishing reaction as its own thing. By so aggressively ostracizing people, the current big tent coalition of anyone who isn’t a leftist was created, and those people became generational enemies of the left.
This process constituted the first interruption of the slow boiling frog process the left had put everyone under until then, and suddenly the lines were actually clearly drawn. It would not have possible to get any of our ideas out without this. And I don’t think there’s any way leftists can put the genie back in the bottle, partly because they simply do not want to. They have committed to being more openly radical, and openly despising and wishing death upon their political enemies. It’s no longer possible to dress up leftwing color revolution in a “bipartisan” way or to make them look like innocents to regular Republicans. So they are locked into this conflict, even if they ended up winning politically, they will always have this opposition against them. They aren’t willing to moderate in such a way as to make their vision palatable to the average person the way they used to.
This doesn’t mean they won’t win. I think they can still easily destroy the west. They simply have to continue to allow infinity immigrants in, and then none of this will matter in the long run, and it won’t be reversible. Yarvin also talked about this.
If it can be said on Youtube, it is not going to get us out of this situation.
If it can be said by a facefag, it is not going to get us out of this situation.
Step 1. Create a police agency and spy agency that is as Christian nationalist as the FBI and NSA is bioleninist cultural communist.
Step 2. Arrest our enemies and put tanks in Harvard.
Step 3. Notice that all men with children are on the right, and everyone on the left has children as their lowest priority.. Therefore apply the Pauline recruitment criteria for all priestly jobs, such as professors, judges, etc, for the reasons Saint Paul explains.
Step 4. Anyone graduating from the universities has plausibly pass a Christian Nationalist as they now have to plausibly pass as bioleninist cultural communists. Staff the public service with people who are as Maga as they today are Democrat.
Step 5. Either abolish elections altogether, or restrict the franchise to male Christian property owning taxpayers who are raising or who have raised their own children,
Step 6. Profit.
In light of America’s founding history this would be a great solution. Although remains to be seen whether a late-stage democracy can revert back to a virtuous republic without a lifelong king to implement it by the sword.
It seems overwhelmingly likely that there is insufficient virtue around to revert back to a virtuous Republic, without a few generations of Kings putting things back together again.
Which is regrettable, for the virtuous Republic is undoubtedly the best form of government we have tried so far — except for the terrible problem that it is unable to preserve the virtue on which it depends, and winds up undermining virtue, to become one of the worst forms of government.
Republics at best are thought of as incinerators of social capital even if in their absolute prime they have a very kickass period as the early Roman and early American republic did. Venice was also a Res Publica but lacked really any Democratic element to its government it was a pure oligarchy.
A white pill interpretation is that Yarvin is once again ripping open the Overton window. Not hard to imagine many republicans patting themselves on the back saying ‘man we really are owning the libs’. In that sense it is wonderful to have a man like Yarvin reminding them of the bigger picture.
He is?
I go back to the video to look for what you saw and I did not see.
Oh yes, I see it now. He kind of sort of says that if the Democrats are ever allowed to win another election, they are going to kill everyone. And kind of sort of does not say it.
Needs to be bolder. You can now kind of sort of say that on Youtube. Based Camp has been furtively sliding ever closer to saying that on Youtube.
Seems to me the big point Yarvin is making is that the president inherently has authority to fire the swamp, and has to simply exercise the authority that the constitution quite unambiguously gives him. Well yes. And yes it is very alarming that Trump is not exercising the authority that God and the constitution gives him, that everyone seems to treat it as an enormous victory that he has fired 0.0001% of those who would have no hesitation in murdering Trump, murdering you, and murdering me.
Curtis complains that the rhetoric is revolutionary, and the actions are not. But revolutionary rhetoric is not a thought crime, nor is noticing that actions fall far, far, far, short of the rhetoric.
Curtis calls for Rubiconian action to match the Rubiconian rhetoric. But the cabinet lacks an instrument of coercion capable of carrying out Rubiconian action.
Anonymous fake suggested, and I silently deleted his comment, that Trump cabinet should issue a policy that we should arrest Child Protective services officers who kidnap children from their straight male biological fathers and sell them to gay “couples” to use as party favors in gay orgies.
That has always theoretically been policy, but it is obviously impossible to actually give effect to that policy. We need an instrumentality capable of giving effect to that policy and simply arresting and imprisoning anyone who tries to get in the way of that policy. If we don’t have instrumentality capable of doing that, we don’t have an instrumentality capable of doing any of the things Curtis is calling for.
The problem is that you need virtuous people authorised to carry out virtuous violence by the Sovereign on behalf of the Sovereign. Without that, cannot do anything.
A “non political” instrument of violence and coercions is, in the current political environment, necessarily and unavoidably evil, degenerate, demonic, and depraved. If we create a virtuous instrument of violence, using the Pauline criteria to select for virtue, not doing anything to select for Maga loyalty, just selecting for virtue as old type Christianity selected for virtue, we inevitably will have an unthinkably and unimaginably right wing instrument of right wing violence.
Right now we are on the other side of the Rubicon, and if the Trump cabinet does not act accordingly, they are all going to be killed or wind up in prison for thirty years. So, they have to get serious about building instruments of governance capable of acting accordingly. We need to do something about female porn, if only to put it back in the shadows instead of the occupying the entire front shelf space at the airport bookshop, and most of the family court and child protective services need to be doing twenty years in prison. If we can do those things, we can do all the other things that Curtis Yarvin is calling for. If we cannot do those things, we cannot do any of the things that Curtis Yarvin is calling for.
“Curtis calls for Rubiconian action to match the Rubiconian rhetoric. But the cabinet lacks an instrument of coercion capable of carrying out Rubiconian action.”
If I may speak against that I believe ICE now has the equivalent of a couple divisions under arms. Deployed correctly and given sealed orders to arrest the entire leadership of the Democratic party, their financiers and media people I believe it could be done.
It very likely sort of is though. Within the circles of power there surely are strong incentives to clap loudly along with every bold new step Trump takes. Truly inspirational, mr president! And surely there are plenty of people who are skeptical, but are they
a) within the circle of power
b) voicing their skepticism publicly?
Which is not to say you aren’t totally correct on Yarvin refusing to speak the unspeakable. His body language says: the left will kill us all. His mouth does not.
Which is also not to say you aren’t totally correct on Yarvin not having the answer. Elite cooperation requires more than being a charming nerd on podcasts. But the way these things seem to go is that the zeitgeist can only move so much at a time. Currently it is Yarvin’s moment in the spotlights. Could’ve been much worse. When the violence heats up, the zeitgeist will move on to men who predicted that.
Abolishing CPS and DEA and the Border Patrol and simply having ordinary random law enforcement officers do those tasks [*deleted*]
CPS needs to be arrested for sexual crimes against children, and the leadership of the FBI need to put in the loonie bin with the Zizians. So why is not local law enforcement arresting CPS already?
Because power. When poofters in the Roman Catholic Church do bad things, local cops can go after them. When poofters in CPS do bad things, no one dares utter a peep.
[*unresponsive*]
Culture is downstream of power.
“When I hear the word culture, I reach for my gun”.
We have the guns. We have the government. We have more people willing to hunt pedophiles than there are pedophiles. [*deleted for all the usual reasons*]
As Yarvin pointed out at tedious length, we do not have the permanent government, and Trump, stuck in his alliance with Thermidor, is reluctant to disband the permanent government and institute a new government loyal to himself.
No one is willing to hunt actual pedophiles, because actual pedophiles, people who prefer children below reproductive age, are all faggots, and faggots are off limits.
There are lots of people who loudly proclaim their willingness to hunt “pedophiles” in the sense of straight men who enjoy sex with reproductive age women, regardless of chronological age, (which is to say all straight males) but as a straight male who enjoys sex with reproductive age women regardless of chronological age, I empirically observe absolutely zero willingess to hunt my kind of “pedophile” in actual real life.
Note: any person on social media who identifies as a fourteen year old girl is actually a morbidly obese middle aged man, because all the actual fourteen year old girls identify as eighteen year old girls.
Yarvin is in the game where he knows the enemy knows of him, and listens to him. I’m still in the camp that this is not as dire as portrayed, because otherwise Yarvin would be running to the hills, not blackpilling on podcasts.
He would possibly act like a delusional victor, blather about how great it is we’ve won, all while shifting his personal network and obligations far, far away. Or simply shut up and shift himself far, far away.
So, blackpilling on this, is a red herring. Oh no, not the bureaucracy and the courts, Trump you silly you haven’t packed the courts or cut off the bureaucracy or taken control of the universties! Well, the leftists are prepared for massive siege warfare on all those fronts. It would be a massive, chancey, bloody (metaphorical or otherwise) mess of a fight. Instead, looks like Trump 2.0 is stacking the board, and feigning weakness, incohesion, incompetence. At least, one may hope Trump is stacking the board. We’ll see how it plays out very soon, won’t we.
Yarvin has a post on his substink that mirrors the Great Debasement post here, but is far heavier on theory and far ‘fluff’ier in practical substance. Amusingly he is claiming, like Adam Back, to have been a BTC holdout. Yes sure, we all believe you. Tragic how these early theorycrafters failed to be early adopters, and now are in possession of quite small holdings, oh so tragic. At least there were no boat accidents involved.
One must think that Yarvin and Jim are wondering about the value and utility of their getaway funds as we watch the ship wander ever closer to the maelstrom. I have a feeling that BTC health requires a slower death of the GAE than that which we will witness, and that a rush for the exits will collapse all the utility as an escape hatch for those too slow to sell for SGD or AED — that is, before everyone else begins trying to sell for SGD and AED.
“In The Vocation Trap, former numerary Joseph Gonzales says, “During my stint as a numerary, I witnessed the numeraries, including the directors, intermittently burning books in the garden at the back of the center. Usually, Protestant Bibles and books on the theory of evolution.””
https://odan.org/forbidden_books
PROTESTANT BIBLES
That’s interesting, but how does it fit in with what the rest of the discussion here is about?
We are talking state religion. If Jimian Christianity, a variety of Protestantism, is to become state religion, then burning Protestant Bibles will be hard to tolerate.
True enough – but that’s just one of a long list of reasons for not wanting the rival religious tradition represented the Opus Dei people to have power in society. Religions that that teach “don’t have children” and also “give us all your money” do not sound Jimian-compatible.
u got dupes/redirections so need to delete cheng’s libsodium and mpir, then fix all ur .gitmodules to be non-relative absolute full path https fqdn’s to rho
I don’t think so.
If you follow the install and build instructions in the README and CONTRIBUTE, does anything go wrong?
If nothing along that path goes wrong, what path leads to something going wrong that causes you to conclude that absolute path is needed?
If you think there is a bug, register on rho and generate a bug report.
git clone ‐-recurse-submodules https://gitea.rho.la/cheng/wallet
1) git is expanding your relative filesystem pathnames here, thereby it is also explicitly telling you in its output that you really should be specifying these as full absolute https://fqdn/path URL’s in the “url = ” part of the .gitmodules file. absolute URL’s are the only consistent universal format spec to get in habit of using across both local and remote repos.
Submodule ‘libsodium’ (https://gitea.rho.la/cheng/libsodium.git) registered for path ‘libsodium’
Submodule ‘mpir’ (https://gitea.rho.la/cheng/mpir.git) registered for path ‘mpir’
Submodule ‘wxWidgets’ (https://gitea.rho.la/cheng/wxWidgets.git) registered for path ‘wxWidgets’
2) you’ve got redir\u00a0,ections going on here, which should be formally eliminated by using these URL’s that git is telling you in your .gitmodules instead
warning: redirecting to https://gitea.rho.la/rho/libsodium/
warning: redirecting to https://gitea.rho.la/rho/mpir/
3) you broke this one because it doesnt exist there, or some other breakage, so the clone errors out
Cloning into ‘…/wallet/wxWidgets’…
Username for ‘https://gitea.rho.la’:
Password for ‘https://gitea.rho.la’:
remote: Unauthorized
fatal: Authentication failed for ‘https://gitea.rho.la/cheng/wxWidgets.git/’
fatal: clone of ‘https://gitea.rho.la/cheng/wxWidgets.git’ into submodule path ‘…/wallet/wxWidgets’ failed
Failed to clone ‘wxWidgets’ a second time, aborting
4) there is no “CONTRIBUTE” file
5) builders will often choose to install and use system packaged libs, or upstream libs. so unless you’re truly keeping all these libs up to date, or are modifying them, its questionable.
6) some mirrors parse ‘url =’ URL’s out of .gitmodules and clone everything separately, not recursive
7) less 3rd party shit in ur repo, better search/grep hits
8) less 3rd party shit in ur repo, less maintenance keeping them up
The download instructions say:
git clone ‐-recurse-submodules https://gitea.rho.la/rho/wallet.git
Check the README in the source code https://gitea.rho.la/rho/wallet and the readme on the website that is linked from the source code.
I don’t know how you managed to find that old version of the repo — it dates back from before we went public.
> git clone --recurse-submodules https://gitea.rho.la/rho/wallet
Everyday users, operating system ports maintainers, packagers, mirrors, would-be developers/testers…
This clone fails for all of them because you’ve specified the “user@host:” login format (which they don’t have, won’t be given, and won’t do), instead of the correct URL format (which they do use, same as they do with every repo on github)… so the clone errors out.
Use the full absolute https://fqdn/path URL format in the “url = ” part of all the .gitmodules files (ie: same as the “url = ” URL is in their respective .git/config’s) and all these problems go away.
Unload your ssh keys, adduser yourself new account, clear your environment, empty everything, all state, all access.
Be on coffeshop internet, not in your basement on a shell on gitea.rho.la.
Run the clone –recur https://…, over the internet, just like everyone else on the internet does.
Clone fails.
Because now u dont have access to ‘gitea@gitea.rho.la:’ account, nor any other ‘*@*:’ repo account on the internet.
Nor does any of the above external public users ever do, obviously.
Use this format in all the .gitmodules and .git/config you serve to the world
‘url = https://gitea.rho.la/rho/‘
Here’s an actual example
https://github.com/git/git/.gitmodules
url = https://github.com/cr-marcstevens/sha1collisiondetection.git
https://github.com/git/git/.git/config
url = https://github.com/git/git
The .git on the end is optional, 65% of .gitmodules and 98% of repos are now pretty and don’t use it anymore. Only time to use it is if some upstream pedantic repo admin still hardcoded it thus breaking pretty.
why are you deleting your own comments?
===================================
Jim Post Author 2025-10-23 at 22:24
> > git clone ‐-recurse-submodules https://gitea.rho.la/rho/wallet
> Everyday users, operating system ports maintainers, packagers, mirrors, would-be developers/testers…
OK, walk me through a path where this goes wrong, where this does not work as expected.
Seems to me an every day user is going to look to README, and the instructions in the README work for me.
You say “every day users.” Well, do the instructions in the README and CONTRIBUTE work for you? Or maybe you think an everyday user is going to find those instructions surprising or confusing. How? Why?
Once we have a beta release, we will then go for a package release. Our first package release will be for the AUR, because that is where everyone always starts. Walk me through building an AUR package. How is this a problem for an AUR package?
Don’t tell me it is a problem. Show me it is a problem, bug report style:
1. Steps to reproduce
2. Expected result
3. Actual result.
==================================
Unload your ssh keys, adduser yourself new account, clear your environment, empty everything, all state, all access.
Be on coffeshop internet, not in your basement on a shell on gitea.rho.la.
Run the clone –recur https://…, over the internet, just like everyone else on the internet does.
Clone fails.
Because now u dont have access to ‘gitea@gitea.rho.la:’ account, nor any other ‘*@*:’ repo account on the internet.
Nor does any of the above external public users ever do, obviously.
Use this format in all the .gitmodules and .git/config you serve to the world
‘url = https://gitea.rho.la/rho/‘
Here’s an actual example
https://github.com/git/git/.gitmodules
url = https://github.com/cr-marcstevens/sha1collisiondetection.git
https://github.com/git/git/.git/config
url = https://github.com/git/git
The .git on the end is optional, 65% of .gitmodules and 98% of repos are now pretty and don’t use it anymore. Only time to use it is if some upstream pedantic repo admin still hardcoded it thus breaking pretty.
why are you deleting your own comments?
===================================
Jim Post Author 2025-10-23 at 22:24
> > git clone ‐-recurse-submodules https://gitea.rho.la/rho/wallet
> Everyday users, operating system ports maintainers, packagers, mirrors, would-be developers/testers…
OK, walk me through a path where this goes wrong, where this does not work as expected.
Seems to me an every day user is going to look to README, and the instructions in the README work for me.
You say “every day users.” Well, do the instructions in the README and CONTRIBUTE work for you? Or maybe you think an everyday user is going to find those instructions surprising or confusing. How? Why?
Once we have a beta release, we will then go for a package release. Our first package release will be for the AUR, because that is where everyone always starts. Walk me through building an AUR package. How is this a problem for an AUR package?
Don’t tell me it is a problem. Show me it is a problem, bug report style:
1. Steps to reproduce
2. Expected result
3. Actual result.
==================================
Thanks.
The reason I deleted my own comment, and thus inadvertently deleted your reply to my comment, is that after a slight delay I realised your point and fixed the problem
It should work now.
Please try it.
Should work now, at least as far as the repository goes, though I had a problem with https access going down in the middle, which may be the result of overly aggressive rate limiting measures.
relative-filesystem-path format ‘works’, but mixed config can be unorthodox.
As is done in ‘url’ part of the main .git/config file,
most use that https-url-path format in all .gitmodules files.
Unless still on a local filesystem-only repo, which no one with an internet connected repo or git server (gitweb, git-http-backend, git-shell) really uses after that.
As seen below, git is upconverting the relative-filesystem-paths to https-url-path representation.
Git is displaying what it’s actually using in (parenthesis), meaning that updating to https-url-path format is fine.
git clone …
Submodule ‘libsodium/libsodium’ (https://gitea.rho.la/rho/libsodium.git) registered for path ‘libsodium/libsodium’
Submodule ‘mpir’ (https://gitea.rho.la/rho/mpir.git) registered for path ‘mpir’
Submodule ‘wxWidgets’ (https://gitea.rho.la/rho/wxWidgets.git) registered for path ‘wxWidgets’
Submodule ‘3rdparty/catch’ (https://gitea.rho.la/rho/Catch.git) registered for path ‘wxWidgets/3rdparty/catch’
Submodule ‘3rdparty/libwebp’ (https://gitea.rho.la/rho/libwebp.git) registered for path ‘wxWidgets/3rdparty/libwebp’
Submodule ‘3rdparty/nanosvg’ (https://gitea.rho.la/rho/nanosvg) registered for path ‘wxWidgets/3rdparty/nanosvg’
Submodule ‘3rdparty/pcre’ (https://gitea.rho.la/rho/pcre) registered for path ‘wxWidgets/3rdparty/pcre’
Submodule ‘src/expat’ (https://gitea.rho.la/rho/libexpat.git) registered for path ‘wxWidgets/src/expat’
Submodule ‘src/jpeg’ (https://gitea.rho.la/rho/libjpeg-turbo.git) registered for path ‘wxWidgets/src/jpeg’
Submodule ‘src/png’ (https://gitea.rho.la/rho/libpng.git) registered for path ‘wxWidgets/src/png’
Submodule ‘src/tiff’ (https://gitea.rho.la/rho/libtiff.git) registered for path ‘wxWidgets/src/tiff’
Submodule ‘src/zlib’ (https://gitea.rho.la/rho/zlib.git) registered for path ‘wxWidgets/src/zlib’
Relative made sense for me, because easier to shit from one internet address to another, and easier to switch between protocols. Which gets to be a pain when there are thirteen modules, three websites, and three protocols. Which was the situation in the early days of going public, and is not entirely past.
An absolute url and protocol makes more sense as one’s confidence that it is not undergoing further changes improves.
Short videos about Taxation in NYC discovering the Laffer Limit soon
https://twitter.com/AlexDuncanTX/status/1981001541562826991
https://twitter.com/FightWithMemes/status/1980791659861623251
Unfortunately, going to take a while, because he is going after New York’s biggest asset, housing, which will take a while to utterly destroy.
Jim you told us the price of BTC was always going to go up.
We bought based on your assurance.
The price is now tanking badly.
You need to either make the price go up above $127 by the end of this week, or admit your analysis is bullshit and reimburse us for our losses.
Patience.
I said that, I called the dip, when Bitcoin was at sixteen thousand fiat dollars, two years ago in 2022 November, and I said it again, I called the dip again, when it was at sixty thousand fiat dollars, a year ago. It has now doubled since I last said that, doubled since the most recent dip. And if you buy it now, it will double again soon enough, but now you might have to wait two or three years, rather than one year, because two years ago, I called the dip, and a year ago, I called the dip again, but I am not calling the dip now. The bottom of the current dip might well be some time in the future. Hard to tell. But what I can tell you is that though the bottom of the dip may well be quite some time to go, the price at the bottom of the current dip is not going to be much lower than the current price. It still a good time to buy and a bad time to sell. Might be an even better time to buy next year, might not be.
Not calling the dip today. It is always a good time to buy bitcoin, but when I call the dip, it is an even better time to buy bitcoin.
When you look back at a peak, you are apt to say “If only I had sold at the peak and bought at the dip” But because everyone is trying to sell at the peak, it is very hard to call the peak, while it is not nearly as hard to call the dip. Thus time in market beats time to market. Just buy on the dip and hold. If you try to time it, you will lose money.
Blockchain analysis reveals that the buy and hold investors have made most of the gains in Bitcoin, that most people who try to time the market, trying to buy on the dip and sell on the peak have generally lost their shirts.
Buying on the dip is a workable strategy if you are good at analysing the market. Buying on the dip and selling at the peak does not seem to be workable strategy no matter how good you are at analysing the market.
Right now we are near the bottom of the dip in price, but not necessarily near the bottom of the dip in time. This might be the bottom now, probably not, not calling it, because today it is hard to call. Might well be lower next year — not a lot lower. But soon after that, will be a lot higher. I call the dips, but I do not call the peaks. Hard to call the dips, but I manage some of the time, enough of the time. A lot harder to call the peaks. I don’t try to call the peaks, and those who do try, usually lose their shirts.
If you skip buying Bitcoin today, it is certainly possible it will be a bit cheaper in 2026. It is also very possible that we will never see bitcoin below one hundred and twenty thousand again, and you will forever kick yourself for not buying bitcoin back when it was cheap. But either way, whether today, 2026, or even 2027, the day will dawn when bitcoin rises far above one twenty thousand, and never again drops below it.
After posting this comment, I went out and gathered data on the market.
Starts to look like this may well be another bottom. Not calling it yet, might call it soon.
lmao I bought on Jim’s advice when the price was 16k.
Checking to see how my investment is doing today…
x6 multiplier.
Thanks Jim!
You’re holding unrealised vapors.
I realised @125.
It’s dropping fast.
Paper gains are evaporating under your feet.
There is a sell button.
Smash it if you want to live.
you realised for fiat dollars? Your loss. Stack ’em bitcoin and hold.
Bullshit. Blockchain reveals few sell at the top. Peaks are brief periods of low volume, preceded by a period of high volume and rising prices, the bottom of the dip is a prolonged period of high volume.
You realised at sixteen thousand, because most bitcoin changes from the lettuce hands to the hodlers at the dips, and every time a Bitcoin hits a new peak, you post this stuff hoping that if you can get enough people to sell, you will be able to buy at ninety thousand.
125 was easy call… pure psych and hype, Maxi’s went dead, whales nowhere near done selling, cycle dates, etc.
I told people to sell.
They didn’t listen.
It kept dropping.
Now it’s 104.
Lol.
Donors get the buy call when it comes.
But you did not call 125000 — You have been calling doom ever since 16000, ever since I have been promoting bitcoin.
To really feel the full impact of how absurd, idiotic, and absurdly idiotic this claim is, I invite any passing reader to mosey on over to coinmarketcap.com and take a look at the 1-year price chart. I’d like to post a screen cap myself but I don’t think inline images are supported.
As of today, 125 is this tiny insignificant blip on the timeline. Anyone saying that they “called” the top has the same credibility as someone saying they predicted when a volcano was going to erupt, or correctly forecast the exact date and temperature of the coldest day of the year.
Pics or it didn’t happen. And even with photographic evidence, not very impressive for someone who has a track record of “calling the peak” every time the USD price goes up another 5k.
103 now.
Keep talking.
Been ready to load up since 125, just waiting for the shift.
Portfolio still grew since then.
Was fun watching tards buy the Maxi’s TCO’s, lol.
Look at this dirtbag fleece his shareholders, utterly massive ratio collapse, lol.
@strategy
$STRE (“Stream”) is our Perpetual Preferred Stock offering a fixed 10% Euro dividend. $MSTR
you have been posting this for years. For some reason I white listed you. Putting you back on moderation for endless repetition
You’re asking for refunds? Really? After investing in a high risk/high reward instrument such as bitcoin?
There will be no refunds, regardless of future price. Obviously.
please only one space char after the = char, not two
wallet/.gitmodules: url = ../wxWidgets.git
wallet/.gitmodules: url = ../mpir.git
Why?
And how about you register, you do it, and submit a pull request explaining why?
because the ~500 .gitmodules files here across more projects than yours, yours is the only format typo of them all
format is: tab “url” space “=” space urlpath/path
because youre already hacking and committing project stuff
because not even got to compiling yet but when i do…
From time to time I issue a commit fixing hundreds of non whitespace typos. A whitespace typo does not seem terribly urgent.
By the time you get to successfully compiling, executing the unit test, and submitting a pull request, I am sure you will find a vast number of considerably more serious issues.
youre the one who intro’d it, not me.
32e8dcf432e29e80a2814e2edfc292aa4f9861a6
you could have just both fixed that, and committed 50 more lines of nonwhitespace by now.
snarking ppl is inefficient, bro ;x
> number
accepted to btc is more than 1