tag:blogger.com,1999:blog-4490468598422095060.post7651546534004493378..comments2024-03-17T07:55:12.096-07:00Comments on FOFOA: From the Treasure ChestFOFOAhttp://www.blogger.com/profile/17152544684132776239noreply@blogger.comBlogger437125tag:blogger.com,1999:blog-4490468598422095060.post-90210066480259705982011-07-12T16:18:42.538-07:002011-07-12T16:18:42.538-07:00Addendum
I am anticipating some may take issue wi...<b>Addendum</b><br /><br />I am anticipating some may take issue with my last post, and specifically "Steve from VA"'s quote about oil/energy, by saying "yes, BUT... that's why the system of Freegold will be implemented", or at least, "the implementation of Freegold will alleviate the issue of swapping energy for worthless paper".<br /><br />That's Ashvinhttps://www.blogger.com/profile/00692970226443206815noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-48483004016292413572011-07-12T12:18:19.019-07:002011-07-12T12:18:19.019-07:00Parts 3/4 and 4/4 Cont...
CRA is right… I will. O...Parts 3/4 and 4/4 Cont...<br /><br />CRA is right… I will. Only someone who hasn’t studied Constitutional Law would argue that the Constitution is worth the paper it is written on. The history of the United States has been one in which the Constitution is consistently interpreted to benefit those with extreme wealth/power, with few exceptions, and that has become especially true in recent years Ashvinhttps://www.blogger.com/profile/00692970226443206815noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-350355123883628412011-07-12T12:14:34.104-07:002011-07-12T12:14:34.104-07:00Part 3/4 and 4/4
CRA: “Steve Keen claims that mon...Part 3/4 and 4/4<br /><br />CRA: <i>“Steve Keen claims that money printing (presumably Zimbabwe style) is what causes HI. If they print all of that money wouldn’t that cause HI? No it would not if you follow the logic in Part A of this comment.”</i><br /><br />Without getting into too much of a debate about what Dr. Keen did or did not say/imply, I think we can all agree that money printing is a Ashvinhttps://www.blogger.com/profile/00692970226443206815noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-86736601990138420952011-07-12T09:48:42.422-07:002011-07-12T09:48:42.422-07:00Part 2/4 Cont...
CRA: Now all of these deposits a...Part 2/4 Cont...<br /><br />CRA: <i>Now all of these deposits are either guaranteed by the FDIC/USG or if those guarantees had lapsed before debt deflation hits experience tells us the USG and every other government (who can) will put them back in place at the slightest hint of a bank run.</i><br /><br />As stated in my earlier comment to Bron, experience tells me that the federal government is Ashvinhttps://www.blogger.com/profile/00692970226443206815noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-48776957277703990872011-07-12T09:48:20.464-07:002011-07-12T09:48:20.464-07:00Part 2/4
CRA: "Firstly having paid off our d...Part 2/4<br /><br />CRA: <i>"Firstly having paid off our debts before the physical US dollar’s purchasing power increased sharply we may find ourselves regretting that decision precisely for the reasons Nicole Foss pointed out above. The creditors (banks presumably) we owed money to are now desperately short of cash. The law of supply and demand would rule here to, would it not? <b>Those Ashvinhttps://www.blogger.com/profile/00692970226443206815noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-9510659015218230912011-07-12T09:09:50.177-07:002011-07-12T09:09:50.177-07:00My last comment to Bron naturally brings me to CRA...My last comment to Bron naturally brings me to CRA's Part B "thought experiment". <br /><br />Part 1/4<br /><br />I have a major issue with the setup of the experiment, as I have expressed several times before.<br /><br />CRA: <i>"For the purpose of our thought experiment let’s take the advice offered by Team Photocopier and see where that takes us."</i><br /><br />What Ashvinhttps://www.blogger.com/profile/00692970226443206815noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-15733390619783359322011-07-12T08:52:05.289-07:002011-07-12T08:52:05.289-07:00Franek: I would hate to see RPG discussion turn i...Franek: <i> I would hate to see RPG discussion turn into a self-congratulating circle of mutual adoration</i><br /><br />+1. Disagreement has a useful purpose.DPhttps://www.blogger.com/profile/01965423353442076871noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-75863116151496032262011-07-12T08:43:54.427-07:002011-07-12T08:43:54.427-07:00Bron,
I'd contend that futures markets and he...Bron,<br /><br /><i>I'd contend that futures markets and hedge funds playing in commodities and the further fincialisation of commodities via ETFs are making commodities (and PMs) just as volatile and influenced by debt as "assets" are."</i><br /><br />I'd say that, during periods of speculative manias and proceeding debt deflation, you are right. In "normal times"Ashvinhttps://www.blogger.com/profile/00692970226443206815noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-9229956861225758642011-07-12T08:38:21.498-07:002011-07-12T08:38:21.498-07:00@Eduardo
Thanks for responding. That was sort of m...@Eduardo<br />Thanks for responding. That was sort of my point that as you said “At this stage subject of RPG has little, if anything to do with it”. That’s the problem because it should have everything to do with RPG and only RPG. And with all due respect, it’s kind of funny that you bring the idea of me being Ash’s construct. Just makes me think if you’re taking it perhaps a bit too personally…Franekhttps://www.blogger.com/profile/17135822610625870566noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-57197618136059680762011-07-12T06:29:24.852-07:002011-07-12T06:29:24.852-07:00"asset prices are determined by expectations ..."asset prices are determined by expectations of profit, while commodity prices are determined by the cost of production, so that there are two independent price levels in capitalism. The former will be far more volatile than the latter, and debt will be incurred to purchase them"<br /><br />I'd contend that futures markets and hedge funds playing in commodities and the further Bron Sucheckihttps://www.blogger.com/profile/00530576934994289879noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-25671841146066235972011-07-12T02:06:32.488-07:002011-07-12T02:06:32.488-07:00Yes, as we are getting older and we think slower b...Yes, as we are getting older and we think slower but deeper...<br /><br />http://www.bruegel.org/download/parent/485-the-g-20-and-the-currency-war/file/964-the-g-20-and-the-currency-war/<br /><br />I hope you read it even if there is a new post.@mortymer001https://www.blogger.com/profile/13047624328777522777noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-3913173680400686242011-07-12T00:58:35.120-07:002011-07-12T00:58:35.120-07:00Costata, imagine, a month old doc! :O)
Sources up...Costata, imagine, a month old doc! :O)<br /><br />Sources updated:<br />http://anotherfreegoldblog.blogspot.com/2011/04/sources.html<br /><br />As Victor Hugo said<br />"All the forces in the world are not so powerful as an idea whose time has come."<br />"Il n'est rien au monde d'aussi puissant qu'une idée dont l'heure est venue." <br /><br />http://@mortymer001https://www.blogger.com/profile/13047624328777522777noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-80857794670134175472011-07-12T00:30:59.773-07:002011-07-12T00:30:59.773-07:00Hi julian,
Thanks for the feedback.
mortymer,
A...Hi julian,<br /><br />Thanks for the feedback.<br /><br />mortymer,<br /><br />As usual great link. Thanks.costatahttps://www.blogger.com/profile/17932860172715556937noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-20920866599852936452011-07-11T23:41:54.054-07:002011-07-11T23:41:54.054-07:00Speech by Christian Noyer, Governor of Banque de F...Speech by Christian Noyer, Governor of Banque de France; Helsinki, June 6, 2011<br /><br />The Financial Crisis: How are we doing?<br /><br />"...Most euro area and EU countries entered the crisis with significantly deteriorated fiscal positions, very far from the "structural balance objective", which is the core of our fiscal framework and also the commitment made by Member States@mortymer001https://www.blogger.com/profile/13047624328777522777noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-44261605816441596562011-07-11T23:37:11.695-07:002011-07-11T23:37:11.695-07:00Cont... Part 3/3
So that brings us to CRA's q...Cont... <b>Part 3/3</b><br /><br />So that brings us to CRA's question for the deflationists, which is one commonly asked by many in the HI <br />camp, of why those limitations on the UST/Fed are sufficient to prevent them from reversing a "sharp" collapse in BCM, or why those limitations cannot simply be abolished?<br /><br />Those questions are really at the heart of this debate, Ashvinhttps://www.blogger.com/profile/00692970226443206815noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-60142498020184905932011-07-11T23:36:37.064-07:002011-07-11T23:36:37.064-07:00Part 3/3
CRA starts this part by attacking the lo...<b>Part 3/3</b><br /><br />CRA starts this part by attacking the logic of a statement made by Nicole Foss in a Financial Sense interview with Jim Puplava:<br /><br />CRA: <i>"A “speculative bubble” in “consumer prices”? Maybe Nicole saw a rice bubble in recent years but oatmeal looked pretty tame to me. Seriously, how can you make a blanket statement like that?</i><br /><br />When you think Ashvinhttps://www.blogger.com/profile/00692970226443206815noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-29021623524326715192011-07-11T23:31:30.505-07:002011-07-11T23:31:30.505-07:00Cont...
Part 2/3
This part focuses on describing...Cont...<br /><br /><b>Part 2/3</b><br /><br />This part focuses on describing the fact that Dr. Keen as developed a dynamic "multi-sectoral" model of a pure credit money economy (similar to, but not exactly what we have), which can simulate a process of debt deflation and economic depression under the right conditions (excessive levels of speculative debt). CRA also correctly points outAshvinhttps://www.blogger.com/profile/00692970226443206815noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-24102212706258368032011-07-11T23:29:29.552-07:002011-07-11T23:29:29.552-07:00First off, I am glad this important discussion of ...First off, I am glad this important discussion of debt deflation and HI, though not the only issue presented in my series (the others being likelihood of Freegold and the potential roles/values of gold outside of Freegold), has taken a sharply substantive turn. Regardless of what one thinks about the theories underlying either view, that can only be for the best, and things should get a bit more Ashvinhttps://www.blogger.com/profile/00692970226443206815noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-30465664470436616492011-07-11T23:04:13.165-07:002011-07-11T23:04:13.165-07:00For any discussion to have a solid grounds its imp...For any discussion to have a solid grounds its important that definitions are set correctly in the very beginning, for those who think here this is just thew only blog about monetary issues from the freegold perspective:<br /><br />http://forafistfulofdollars.blogspot.com/p/freegold.html<br /><br />What happened to GoldSubject articles? Anyone has a copy of them?@mortymer001https://www.blogger.com/profile/13047624328777522777noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-60373073975779469022011-07-11T21:06:39.548-07:002011-07-11T21:06:39.548-07:00Costata,
that was very lucid and you kept it shor...Costata,<br /><br />that was very lucid and you kept it short and simple<br /><br />that was a gripping read!<br /><br />thought to myself, ya, i'll read it tomorrow<br /><br />but started reading for a moment<br /><br />couldn't stop<br /><br />well done to flourish the discussion<br /><br />the best part is that you've expounded something that i've come to understand quite well julianhttps://www.blogger.com/profile/07723030384717346108noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-27711825199511765532011-07-11T20:20:39.821-07:002011-07-11T20:20:39.821-07:00/Continued
Part 4/4
I suppose that the USG could.../Continued<br /><br />Part 4/4<br /><br />I suppose that the USG could impose capital controls as FOA hinted they would. That would make those US dollars “stranded assets” in countries where they are not legal tender. Now that would make for an interesting situation. Since the USA runs a trade deficit who is going to export to the USA and accept US dollars that no one wants outside of the USA costatahttps://www.blogger.com/profile/17932860172715556937noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-13434887273582853182011-07-11T20:20:14.810-07:002011-07-11T20:20:14.810-07:00/Continued
Part 3/4
It seems to me that there is.../Continued<br /><br />Part 3/4<br /><br />It seems to me that there is only one way that those requests to withdraw currency can be resolved without a bank “holiday” turning into a bank “early retirement” that sees every bank in the US fail. They will have to print the money. (Perhaps there is another way but I confess I’m at a loss to come up with an alternative.) Steve Keen claims that money costatahttps://www.blogger.com/profile/17932860172715556937noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-25431476947698012962011-07-11T20:19:36.947-07:002011-07-11T20:19:36.947-07:00/Continued
Part 2/4
Firstly having paid off our .../Continued<br /><br />Part 2/4<br /><br />Firstly having paid off our debts before the physical US dollar’s purchasing power increased sharply we may find ourselves regretting that decision precisely for the reasons Nicole Foss pointed out above. The creditors (banks presumably) we owed money to are now desperately short of cash. The law of supply and demand would rule here to, would it not? costatahttps://www.blogger.com/profile/17932860172715556937noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-36433808106879417822011-07-11T20:18:56.921-07:002011-07-11T20:18:56.921-07:00Part B – A Deflation Thought Experiment)
Part 1/4...<b>Part B – A Deflation Thought Experiment</b>)<br /><br />Part 1/4<br /><br />Now let’s conduct our thought experiment starting with a return revisit to Team Photocopier’s advice. In that interview with Jim Puplava (see An Honest Deflationist <a href="http://fofoa.blogspot.com/2011/06/from-treasure-chest.html?commentPage=2#c5485769749774622103" rel="nofollow">here</a>) in addition to her “shark costatahttps://www.blogger.com/profile/17932860172715556937noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-47710129279940630112011-07-11T20:14:50.933-07:002011-07-11T20:14:50.933-07:00/Continued
Part 3/3
I suspect that unless Steve .../Continued<br /><br />Part 3/3<br /><br />I suspect that unless Steve Keen can find a better way to present his theory (eg. as a “multi-sectoral debt deflation”) I expect that he will unintentionally encourage people like Nicole Foss to continue to “jump the shark” with nutty statements like this one (link to full transcript in Part B):<br /><br /><i>”…. the purchasing power of that cash will costatahttps://www.blogger.com/profile/17932860172715556937noreply@blogger.com