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Messages - moniker

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1
John Titus of the Best Evidence channel recently had a video saying that depositor accounts at commercial banks and commercial bank accounts at central banks are completely unrelated. He described them as comprising "2 different circuits". This was completely different from what I learned in college and graduate school, and if Titus did not present as intelligently as he does I would have not listened to him anymore.

But it turns out he is correct. In a later video he refers to https://www.fairmoney.info/pdf/. On page 12,

The two articles from the Bank of England overturn many cherished beliefs
held by the public. The Bank points out in clear language that:

 Commercial banks create money.
 Commercial banks are not intermediaries.
 The money multiplier has no application in the real world.
 Reserve accounts do not constrain commercial bank lending.
 Excess reserves are not lent to the general public.

The articles should result in swathes of textbooks being withdrawn and
republished with updated chapters. The reality is that this is unlikely to occur
in the foreseeable future.

Economics is haunted by more fallacies than any other study
known to man.

Henry Hazlitt (1894 1993)
American journalist
The Wall Street Journal and The New York Times
I'm starting to think this may be disinformation from the central bankers in anticipation of imminent total collapse of the banking system. :o

2
Did I ever tell you about how we would make up fake Econ Proofs down in the basement of Havemeyer Hall when we were bored and wasted?  lol.  I am certain to this day some of these joke proofs made it over to the Econ dept and were used for somebody's Ph.D. lol.

I'm not sure Econ is #1 stupid though.  Psych is up there too.

RE
I wouldn't be surprised if someone got the Nobel Prize for one of those proofs!

3
John Titus of the Best Evidence channel recently had a video saying that depositor accounts at commercial banks and commercial bank accounts at central banks are completely unrelated. He described them as comprising "2 different circuits". This was completely different from what I learned in college and graduate school, and if Titus did not present as intelligently as he does I would have not listened to him anymore.

But it turns out he is correct. In a later video he refers to https://www.fairmoney.info/pdf/. On page 12,

The two articles from the Bank of England overturn many cherished beliefs
held by the public. The Bank points out in clear language that:

 Commercial banks create money.
 Commercial banks are not intermediaries.
 The money multiplier has no application in the real world.
 Reserve accounts do not constrain commercial bank lending.
 Excess reserves are not lent to the general public.

The articles should result in swathes of textbooks being withdrawn and
republished with updated chapters. The reality is that this is unlikely to occur
in the foreseeable future.

Economics is haunted by more fallacies than any other study
known to man.

Henry Hazlitt (1894 1993)
American journalist
The Wall Street Journal and The New York Times

4
The Kitchen Sink / Re: Stefan Molyneux - Ahmaud Arbery
« on: May 11, 2020, 09:38:13 AM »
While Molyneux appears to make a good case in the following that McMichael and son are not guilty of anything in the Georgia shooting of Arbery a few months ago, it seems to me that all the aspects he puts forth justify the exact opposite.

https://www.freedomain.com/2020/05/08/the-truth-about-ahmaud-arbery/

That is, if McMichael recognized Arbery from a prior investigation as someone who might be carrying a gun and be suffering from a mental illness, why did he attempt a citizen's arrest with his son who apparently had no law enforcement training instead of waiting for the police to arrive?

McMichael could simply have driven by to confirm Arbery's identity and given a report to the police.

Exactly.
This story fascinates me. Americans live in a bubble where handgun armed people can kill someone and not immediately be arrested until the story is clear. You might be released in a few days on bail but that is as a best case.

Fascinates me that a Canadian like Molyneaux can be such an apologist for this kind of racism...BUT....it has so much too do with the dishonesty around identity politics in the US.  And the dishonesty around immigration throughout Europe and Canada.

I keep saying that the current system, which is based on "level the playing field" social engineering that goes back to 1965 and the politics of ending American Apartheid.....that now fuels racism in the white working class, which has seen its fortunes deteriorate horribly since 1965. It's the blame game.

Nobody gets it. There is no middle ground. If you aren't willing to drink the liberal kool-aid, then you must be racist. I think Molyneaux is at least slightly racist, but he brings up plenty of good points, most of the time.  He is a critical thinker who sees through the US liberal smokescreen.

I did not read this current rant that Monker linked to....but I know Molyneaux.

There is an objective truth in all this somewhere, but it never sees the light of day. Vested interests on both sides serve to keep it out of the conversation.
Molyneux is one of the best thinkers in the blogosphere and maybe the most articulate. But on this one I believe he has completely missed the mark. Also, his prejudice is clear to see.

Racism is everywhere but is now being brought into play big time for the final takedown of the USA.

5
The Kitchen Sink / Stefan Molyneux - Ahmaud Arbery
« on: May 10, 2020, 04:23:05 PM »
While Molyneux appears to make a good case in the following that McMichael and son are not guilty of anything in the Georgia shooting of Arbery a few months ago, it seems to me that all the aspects he puts forth justify the exact opposite.

https://www.freedomain.com/2020/05/08/the-truth-about-ahmaud-arbery/

That is, if McMichael recognized Arbery from a prior investigation as someone who might be carrying a gun and be suffering from a mental illness, why did he attempt a citizen's arrest with his son who apparently had no law enforcement training instead of waiting for the police to arrive?

McMichael could simply have driven by to confirm Arbery's identity and given a report to the police.

6

Anarcho-capitalism is not only an oxymoron, but it is ludicrous from top to bottom.

People who subscribe to the "philosophy" of anarcho-capitalism understand NOTHING about either anarchism or capitalism.  It is a laughable construct!
I agree anarchy and capitalism are mutually exclusive. Capitalism (banks) need government to bail them out when they totally screw up, as always.

Nevertheless, Berwick is spot on regarding phase I of the virus hoax.

7
'The Modern Financial System Is at the End of It's Rope'
Jeff Berwick's recent videos on the virus are outstanding. I'm watching one right now.

8
Knarfs Knewz / Re: Is this crisis really a turning point?
« on: May 05, 2020, 09:18:49 PM »
People who look for silver linings (aka optimists) think that Covid-19 might be the inflection point where we start getting serious about our relationship with the planet. There's no direct link between coronavirus and climate change, but if a tiny virus can bring our whole bustling civilisation to a halt, then how vulnerable will we be to a disordered environment driven by out-of-control global heating?

Just in time, we are being taught humility and perspective, the optimists say. Even better, some of the things we urgently needed to do are now happening without our help. People are learning to work from home, air travel has been closed down, the oil industry is collapsing. Etc, etc.

By contrast, the pessimists (who often refer to themselves as realists) believe that crises don't make people behave better. The Great Depression led to the World War II, 9/11 led to wars all over the Middle East, the Crash of 2008 led to "austerity", slow growth, mounting popular anger and the rise of populist regimes across the world. Don't expect any better from this crisis.

Moreover, they say, most people can only process one problem at a time, and that has the unfortunate ring of truth.

Last year saw an unprecedented upsurge in public concern about climate change -- Australian wildfires, record floods all over the place, Extinction Rebellion, Greta Thunberg -- but all that has now been pushed aside by the coronavirus. Global heating and its associated disasters will kill far more people in the long run, but Covid-19 is killing them now.

There's no time for climate this year, and last year's climate momentum will not automatically return when the virus is under control. Momentum takes time to build, and we are running out of time. There is no magical deliverance on the way, and on balance the current health emergency is setting back the cause of climate sanity, not advancing it.

Nevertheless, we can take some comfort from the fact that behavioural moulds are being broken all over the place, and several generations are learning together that disruptive changes, even very big ones, can be accepted by most people if they understand the need.

A small example from my own trade: This column has appeared in newspapers all over the world for decades, but the relentless retreat of the print media before the online onslaught has eaten deeply into the revenue base of the press everywhere.

Many papers have died, almost all have downsized, and that hit my own income hard. My solution was to do more speaking engagements, which involved more time away from my real job and a lot more travel. No show, no dough, so I did it -- but then came coronavirus, social distancing and a temporary halt to air travel. End of that solution. What to do next?

So I put my talks on video and offered them to the usual suspects -- universities, schools, libraries, conference organisers -- saying I could do a live Q&A session afterwards on some web hosting site for the widely distributed audience. They would never have accepted that arrangement two months ago. Now there is no alternative, so we're back in business.

Some of this business will go back to the old model when normal service is restored, but I suspect quite a lot of it will not. This is happening all across the business world, and will mean permanent, significant change: More working from home, less commuting, more teleconferencing, less travel. And lower greenhouse gas emissions.

Another positive change coming out of this emergency is that we are finally beginning to take a chunk out of our biggest problem: Our heavy dependence on oil. Coal, the dirtiest of the fossil fuels, has been declining fast as an energy source for years in most places, but oil, the second-worst fossil fuel, just kept going up.

In January the world was pumping and burning 100 million barrels of oil a day. (That's about two litres a day for every man, woman and child.) April's demand has fallen to 70 million bpd, and while some of it will return when the coronavirus is contained, it will probably never see 100 million again. The inexorable decline of oil has begun.

But those are about the only bright spots. This year is forecast to be the hottest ever, and the major climate summit that was scheduled for November has been postponed until next year. Total annual emissions may be down by a few percentage points this year, but most of the decline is only temporary.

Do not despair. The planet is now hot enough to produce several major local calamities every year, so we'll quickly get re-motivated to worry about global heating once the current emergency is past. Although probably not fast enough to save us from having to resort to geo-engineering by the 2030s.

https://www.bangkokpost.com/opinion/opinion/1910880/is-this-crisis-really-a-turning-point-
The virus is not the turning point but is one of the early markers on path to WW III. The group that runs the west will NEVER relinquish any significant power to China. I now believe through the influx of capital and technology, China was allowed to grow rapidly economically only so that it could be attacked with justification. This justification will be a depression worse than the last possibly augmented by blaming China for viruses, killer hornets etc. This is the great theme on the early 21st century and all the pieces are now being put into place.




9
Geopolitics / Re: WW3??
« on: May 03, 2020, 07:47:06 PM »
Trump is starting to beat the war drums, but is the covid19 enough to start a hot war with China? At present I doubt it, but maybe phase 2 will bring sufficient suffering for that.

https://nypost.com/2020/05/03/trump-says-china-made-horrible-mistake-tried-to-cover-up-coronavirus-outbreak/

https://www.nydailynews.com/coronavirus/ny-coronavirus-mike-pompeo-alleges-wuhan-lab-started-pandemic-20200503-h75edzbadbcgzlzezhtgifyky4-story.html

10
"Analysts warned a renewed US-China trade conflict, as the world heads for the worst recession since the Great Depression in the 1930s, could inflict additional damage for jobs and growth."

This will make the Great Depression look like a Sunday Picnic.

RE

https://youtu.be/vAfeYMONj9E

11
Medicine & Health / Re: 🦠 Killer Superbugs! Eric Lander
« on: May 01, 2020, 10:21:36 AM »
Eric Lander. RE comments please,

https://www.youtube.com/watch?v=f4CqGlq1fRI

Things that struck me first, his hair is no longer blond and long and he has a mustache now.  lol.  Voice timber more or less the same, body language also the same.  He's also not as skinny as he was in HS.  But then neither am I, though for a while there last year I was.

Overall, he presents a good common sense approach, and he is about as good as you will get for guys to have in charge and running the show.  Will Trumpovetsky LISTEN to Eric?  HELL will FREEZE OVER first.

RE
Yes, it's nice see that Eric is CEO of Broad Institute. It's interesting though that its namesake is the founder of Sun Life, a sub of AIG.

I was working at AIG as a temp financial analyst when I finally wrote up a good proof of my PIK notes valuation algorithm using a transition matrix and recursion. Had to get he hell out of there though when I stepped on alot of toes connected to their outside accountants for other reason. LOL

12
Medicine & Health / Re: 🦠 Killer Superbugs!
« on: April 27, 2020, 01:10:06 PM »
Nice pic! Just downloaded a pdf of EGB, which has been on my reading list for decades. Happy to see it discusses JSB's Three-Part Inventions.

Did you ever read James Watson's account of their work in The Double Helix?  I read that one in HS.

 

RE
Nope. But I'm putting it on the list.

13
Medicine & Health / Re: 🦠 Killer Superbugs!
« on: April 27, 2020, 12:30:05 PM »
I also did not take any AP courses or Organic Chem, which I aced at SUNY Binghamton, without using tinker toys.

I LOVED 🥰 my Tinker Toys!  That was the BEST part of Orgo!  lol.

You know, playing with the TTs was how Watson & Crick elucidated the Double Helix of DNA and beat Linus Pauling to the Nobel Prize.



RE
Nice pic! Just downloaded a pdf of EGB, which has been on my reading list for decades. Happy to see it discusses JSB's Three-Part Inventions.

14
Medicine & Health / Re: 🦠 Killer Superbugs!
« on: April 27, 2020, 11:38:42 AM »

Thank you RE though for bringing me back virtually and vicariously to East 15th Street.

And Thank You as well for helping to dredge up those memories in my increasingly forgetful brain. lol.

How about Mr. Lowenthal, the aging and deadly boring History teacher?  That asshole is the only teacher who gave me 80s on my Report Card!  Mr. Price, the young Chemistry teacher?  I took Organic Chem in HS with him, gave me a big leg up in Orgo at Columbia which I Aced.

Or Frank McCourt, my Mentor and Journalism teacher?  Was he still teaching there in your years?

RE
I didn't know about Frank McCourt until he published Angela's Ashes, which I read. Very sad. I also did not take any AP courses or Organic Chem, which I aced at SUNY Binghamton, without using tinker toys. The trouble with acing organic chem is that everyone wants to shame you into being a dhoctor, especially if (one one side at least) you're from a particular ethnic group. lol

I remember taking some math course where the teacher said we were too stupid to understand how to derive the formula for the volume of a solid, maybe it was a square pyramid. Even to this day if you google volume of a square pyramid formula it says there's no easy way and you need Euclid or calculus, LOL. There's a simplification of Euclid for a special case that you don't need superdooper spatial abilities or tinker toys to get.

15
Medicine & Health / Re: 🦠 Killer Superbugs!
« on: April 27, 2020, 08:11:26 AM »
Of course, Barany was Talk of the Town when I started at Stuyvesant in 1974. I also remember the photo of Kleinman with Gerald Ford in one of the display cases. Just googled him and saw he sold his soul to Wall St. after getting an MBA. How the high and mighty have fallen!

Very disappointing. But even a cursory study of history will reveal there is a weak, if any, correlation between intellect and right action. In fact some of the most evil have extraordinary intelligence and determination.

Did you know any of the others from our Lunch Table in the Cafeteria?  Eric, Francis, Mordechai Baiser and Joel Mandelbaum were the ones I remember.

From another table, my Best Friend in HS, Sheldon Lockman.  He came from Astoria, Greek Country.  Also Nichola Lykiardopoulous, cam in from Astoria.  He changed his last name to Lyras in Junior Year as I recall.

RE
By the way I enjoyed the video of your having a neighbor over for dinner.

Sorry, I don't recognize any of these names. I started in the fall after you graduated if I recall correctly. Besides, just for the record once more I began suffering from early onset chronic depression at the start of the second term and did not spend too much time in the Cafeteria at all as I became increasingly withdrawn.

I tried to get help for my condition, but my parents had very limited financial resources especially since my father was not working at the time due to having just had an agoraphobic nervous breakdown. I was in talk therapy for several months where I clocked an IQ over the max 145 on the standard scale. But then we were kicked off Medicaid when my mother started working.

The only way I made it through all this shit, albeit substantially impaired to date, was my relationship with my viola teacher. I had started taking private lessons during the summer before I started high school and was supposed to be the principal violist is the All-city HS Orchestra my senior year according to the section coach but was passed over by an affirmative action selection. I did get the silver medal at graduation though.

This was my intro to the largely psychopath society in which we live.

Thank you RE though for bringing me back virtually and vicariously to East 15th Street.





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