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House Price Crash Forum

betterToDo

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About betterToDo

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  1. - the original observation is trivial; the last person on earth with a pile of gold can't buy anything, so money is not gold itself, it exists only between entities (be those people or ones we make up with laws) - re: scarcity, money is necessarily scarce or there is no competition for it, and hence it has no value. The idea that if we just redesigned the money supply so it was never scarce is ludicrous since the value of that "money" would be zero. - the problem with current credit money lies in its supply; if it is not scarce, no competitive price revelation can be at work, just as a game of monopoly breaks down the moment the person playing Banker stops merely being an administrator and starts relaxing the rules of supply (which they often will for social reasons or in order to keep someone else in the game) Price is about information revelation, this is also why your insurance premiums go up after an accident. Every repayment on a debt reveals more information about the borrower, unless of course the borrower is just freely borrowing more at 0% and not having to compete. A loan is, and should be, a bet, provided it comes at cost to the creditor. Currency on the other hand is just about standardisation; convertability between different credit agreements allows for efficiency and competition, and this is the point where the properties of different standard units acting in this role to avoid fraud becomes important (ie is it really gold or just the more cheaply available pyrites?) Two different loans made to two different indivdiuals have different real values to the creditor, based on unrevealed information - whether it will be paid back in future. The moment these assets are denominated in currency, they become indistinguishable, and start being used for exchange elsewhere, and implicit in that exchange is the notion that the current estimation of value is accurate. So the value of debt is a function of time and uncertainty. If we allow those currency units to be brought into existence by the act of issuing (badly priced) credit, they lose their meaning, which is what is happening today. We therefore must: - Know the total quantity of currency, but not strictly limit it (rather manipulate it according to social needs) - Separate the issuance of credit from the creation of currency - force banks to hold accurately valued units of any credit they extend prior to it's issuance (ie a level playing field with you and I), in order to force the process to reveal information by ensuring there is a cost to any competing creditors. Thats not to say they can't borrow, but only if that borrowing is through the same comeptitive information-revealing process. But we won't be doing any of that. Have long since let go of this old rope. Short termism, plunder, manipulation, greed; there are too many incentives for those in power to not level the playing field. Control over money by the general population will only ever be won back via the guillotine.
  2. Currently 0%, isn't usually, and what drives CPI? It's incoherent.
  3. At my ex university there were a great deal of Chinese PhD students by the time I left, almost none when I started. The department got taken over by a Chinese professor (I won't name the place or him, he's a good guy). The mechanism that gave rise to this imbalance appeared to me to be a combination of the University's financial benefit from these students, and his own links to Chinese institutions. This probably came at a cost to places for students of other nationalities in this case, but I'm entirely undecided as to whether it was good or bad.
  4. Well, they immediately fall foul of their own brand new pyramid scheme. Tell me you're not so naive that you think a yes vote will suddenly free you in any sense shape or form?
  5. HTB isn't about money its about risk, and unfortunately its going through the private banking sector who are somewhat adept about dispersing their risk and keeping profit. Taxpayers will feel this one day, but not yet. I'd like to think the public aren't stupid enough to try and pile in again, but when you listen to people talk about it.. no they really are.
  6. Well and truly down the rabbit hole. This really is the ******ing limit. We need a military intervention from another country, and regime change. It is the only way we are going to get back towards democracy, and certainly the only way we can hope for monetary reform. Can citizens apply personally to the UN security council requesting action?
  7. It would be catastrophic, but this is far worse. We all have limited lifespans, and some of us are trying to play the game straight. If this was monopoly, it like somebody let the 10 year old be the banker. We need to get it over with and allow integrity to return to the game we're all playing, since then the people who have technically lost according to the "rules" actually will lose and we can all go and make fishfinger sandwiches. .. well, its a dream.
  8. I think you're overestimating the vision, it is more short term and more reactive. It always is. They're just trying to "avoid the bad thing", but with no real plan other than praying for a growth miracle before it all falls apart.
  9. I know someone who's been working on this. It is in a far worse mess than I've seen mentioned here, we are talking complete disarray. You Do Not Want To Know how much money they've really spunked on a broken IT system.
  10. ... an impossible problem because everybody has already paid when they're blowing their credit bubbles, which they will continue to do until we stop letting them create the money supply as private credit... blah... grr.... as if anybody cares. Im sounding like a broken record these days.
  11. Befuddled by this. Why is this being discussed? Maybe it's.... - That people try to blag not paying the licence. Fail - not news. - That there is evidence showing a dramatic increase in numbers doing this. Fail - not true. - That the statistic used to measure this is likely to reflect the amount of illegitimate viewing in the first place - Fail. Game over.
  12. .. or we stay roughly in the middle, and lets not be specific about time. Thanks for the chart but you don't know whats coming next.
  13. This student loan system was obviously going to be a case of luring millions of people in with fake expectations and legislation, and then slowly, over the years, and whenever an opportunity presents itself, change the rules and start to harvest...
  14. I no longer think we will. The fraud isn't unwinding they're just burying it with more fraud. Sadly it is the natural state of affairs for our species.
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