tag:blogger.com,1999:blog-4490468598422095060.post8445820431966262530..comments2024-03-17T07:55:12.096-07:00Comments on FOFOA: Debriefed #8 – Poopyjim FOFOAhttp://www.blogger.com/profile/17152544684132776239noreply@blogger.comBlogger400125tag:blogger.com,1999:blog-4490468598422095060.post-45172403553299706812012-11-25T15:12:55.951-08:002012-11-25T15:12:55.951-08:00Finally! Someone with a clue!Finally! Someone with a clue!DPhttps://www.blogger.com/profile/01965423353442076871noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-43145328363710923532012-11-25T09:06:47.795-08:002012-11-25T09:06:47.795-08:0010000 to 1 gold to silver ratio!?
You are hilariou...10000 to 1 gold to silver ratio!?<br />You are hilarious<br />At what point will you admit you are wrong?<br />When the gold silver ratio is at 30 to 1, or at 20 to 1 or only when it is 15 to 1?<br /><br />If you say 10,000 to 1, what is your idea of the gold/cooper ratio and gold oil ratio then?<br />Billions to 1 (currently 9000 to 1 for copper)...<br /><br />And for 10,000 to 1, what's Phil Champagnehttps://www.blogger.com/profile/14333042398602393364noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-21354014800607031052012-11-25T07:38:42.002-08:002012-11-25T07:38:42.002-08:00Yes Gold as Money is the right system!
HM Socialis...Yes Gold as Money is the right system!<br />HM Socialist says it doesn't work, but what doesn't really work is the fraud of FRACTIONAL RESERVE BANKING lending more gold then there is.<br />There wouldn't be a problem if, when you deposit your gold at the bank, you had 2 choice:<br />1) storage facility (it's not used to make loans, and can be taken back at any time) - or<br />2) Phil Champagnehttps://www.blogger.com/profile/14333042398602393364noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-56902974168561137882012-10-31T11:13:36.533-07:002012-10-31T11:13:36.533-07:00Thanks for the laugh Delusional Investing :-)
May...Thanks for the laugh Delusional Investing :-)<br /><br />Maybe he really is a bot?<br /><br />If so, I would put the JR program in a while(1) loop such that he starts up again whenever he seg-faults or reaches max. recursion depth :Dburningfiathttps://www.blogger.com/profile/15830817879033179597noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-45869464447654774412012-10-31T07:02:07.234-07:002012-10-31T07:02:07.234-07:00@Victor,
did you lock JR into your basement with ...@Victor,<br /><br /><i>did you lock JR into your basement with a printout of all FOFOA posts, and are you know forcing him to work for you?</i><br /><br />He used to be in the basement, happy with the printouts. <a href="http://i.telegraph.co.uk/multimedia/archive/01875/jesus_1875555c.jpg" rel="nofollow">But then he only bin an done an got hissel hitched</a>!DPhttps://www.blogger.com/profile/01965423353442076871noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-76520033738887071422012-10-31T05:14:19.946-07:002012-10-31T05:14:19.946-07:00that kind of collective mania for a certain asset ...<i>that kind of collective mania for a certain asset class</i><br /><br /><a href="http://en.wikipedia.org/wiki/United_States_Treasury_security" rel="nofollow">I caught you a delicious bass</a>Anonymoushttps://www.blogger.com/profile/11025185467410304185noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-17688060735459796132012-10-31T05:00:43.353-07:002012-10-31T05:00:43.353-07:00VtC
You seem to be making the same objection as M...VtC<br /><br />You seem to be making the same objection as Michael H with this :<br /><br />“I am not sure this is universally true.”<br /><br />Allow me to clarify my thoughts.<br /><br />I am sure you will agree that we have to take into account temporal dynamics here. On a long enough timeline any disequilibrium in a specific market will be resolved.<br /><br />There is also correlation Motley Foolhttps://www.blogger.com/profile/06902761012772262091noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-91580387563898936892012-10-31T05:00:20.287-07:002012-10-31T05:00:20.287-07:00Michael H
“One place we could look is in economie...Michael H<br /><br />“One place we could look is in economies where the local currency is used for exchange, but savings are in a foreign currency like USD. Would the presence or absence of asset bubbles in such an economy tell us anything about how bubbles would behave AG?”<br /><br />That would be a place to look yes. It would not be perfect, but we could make some broad observations and Motley Foolhttps://www.blogger.com/profile/06902761012772262091noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-30591041350256919982012-10-31T02:44:26.551-07:002012-10-31T02:44:26.551-07:00@MichaelH @costata,
It is the only medium that cu...@MichaelH @costata,<br /><br /><i>It is the only medium that currencies do not "move thru".</i><br /><br />If people will cycle the proceeds from selling their bubble asset, into more of that asset to flip again and again, then yes the one asset class could I guess still bubble in price without any other class rising alongside.<br /><br />I don't know if that will be likely or not. DPhttps://www.blogger.com/profile/01965423353442076871noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-63058543539304511922012-10-30T23:20:56.139-07:002012-10-30T23:20:56.139-07:00Blondie, VtC, Michael H, Aaron et al,
These comme...Blondie, VtC, Michael H, Aaron et al,<br /><br />These comments aren't in strict order with the comments above that I'm replying to here.<br /><br />Aaron,<br /><br />I think we should develop the proof a little more and get some feedback from the economists. Torture test it a little first if you get my drift.<br /><br />Blondie,<br /><br />I can happily concede we might ultimately costatahttps://www.blogger.com/profile/17932860172715556937noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-77103479750665949942012-10-30T22:07:15.801-07:002012-10-30T22:07:15.801-07:00Remarks of @Börjesson were very insightfull. Bank ...Remarks of @Börjesson were very insightfull. Bank deposit is not some form of storing the value, but a transaction, a form of financial trading, with rewards (the interest) with attached taxation and with related risks (bank or currency failure). The fact that the risks related to financial transactions are presented to us as being zero, this does not mean that this is correct. Such risks have Naughty Slumdoghttps://www.blogger.com/profile/11577730530560150302noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-32393791853461189952012-10-30T21:58:53.322-07:002012-10-30T21:58:53.322-07:00@Victorthecleaner
I hope you understood me: I was ...@Victorthecleaner<br />I hope you understood me: I was saying what I think will happen. Not want I want to happen.<br /><br />I never understood that you want bad things to happen, as probably all of us here. What I want to make clear is that I do not believe that there are silver bullets for the current crisis, and by adopting HM or FG things will get back to normal by themselves. HM will not Naughty Slumdoghttps://www.blogger.com/profile/11577730530560150302noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-57218798138126711572012-10-30T21:32:53.779-07:002012-10-30T21:32:53.779-07:00Blondie,
Which makes it [gold] useless as a UoA.
...<br />Blondie,<br /><br /><i>Which makes it [gold] useless as a UoA.<br />Neither is it acting as a stable SoV. Value in ≠ value out.</i><br /><br />Very nice. I agree. Some here have written that the price of gold AG will be stable. Well, it will be way more stable than between 1971 and today - this is because all the political effects of dollar support and all the paper gold games will be over.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-79545224605808196602012-10-30T21:20:57.568-07:002012-10-30T21:20:57.568-07:00costata, VtC,
Just to be clear: I greatly respect...costata, VtC,<br /><br />Just to be clear: I greatly respect both your views; the obvious depth of your knowledge of economics and banking; the time, dedication and perseverance required to achieve this (and likewise for all the others here doing similar). I also acknowledge the difficult task you are both engaged in in attempting to bridge the gap between today’s systems and the concepts Piripihttps://www.blogger.com/profile/03271512349186616514noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-2432507462139755232012-10-30T21:11:10.381-07:002012-10-30T21:11:10.381-07:00So, JR usually responds within milliseconds, can p...So, JR usually responds within milliseconds, can process large volumes of data easily, does not want to appear on camera, and hangs at the first sign of a recursive definition (credit=credit). Hmm... Delusional Investinghttps://www.blogger.com/profile/13300828190667701781noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-592553726856285872012-10-30T20:50:58.566-07:002012-10-30T20:50:58.566-07:00DP,
Yes. With savers going for gold, whose money ...<br />DP,<br /><br /><i>Yes. With savers going for gold, whose money are the banks risking?</i><br /><br />If someone borrows MoE from a bank, this is (electronic) credit money, and this MoE always appears somewhere on the liabilities side of the banking system. All loans here are deposits somewhere else. So <b>that</b> money would still be at risk (besides the bankers' own money and that of Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-49009848130458944242012-10-30T20:46:08.442-07:002012-10-30T20:46:08.442-07:00VtC,
"The real value of gold needs to be abl...VtC,<br /><br /><i>"The real value of gold needs to be able to fluctuate for it to function."</i><br /><br />Absolutely. <br />Which makes it useless as a UoA. <br />Neither is it acting as a stable SoV. Value in ≠ value out. I think it is doing something else, which I will come back to when it's in context, but I would like to say that the price of gold AG is everything we Piripihttps://www.blogger.com/profile/03271512349186616514noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-54129075204645153042012-10-30T20:25:30.148-07:002012-10-30T20:25:30.148-07:00costata,
I agree that what has been announced so ...<br />costata,<br /><br />I agree that what has been announced so far in terms of banking supervision, sounds like your scenario. Whether controlling the credit volume will follow, we have to see. <br /><br />Another thought I had is this. With a 2% inflation target, you can actually abuse your money supply quite a bit. For example, monetize about 2-3% of GDP in additional government debt every Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-81448558866799829232012-10-30T19:47:00.977-07:002012-10-30T19:47:00.977-07:00Costata-
Yes and thank you. I agree with you that...Costata-<br /><br />Yes and thank you. I agree with you that we should recognize a solid foundation of surplus-seeking individuals as a vital component of a healthy economy. In fact, lucky for us surplus-seeking in my view is a natural state for humans -- that is -- we each seek a surplus to better own own situation (and in extremis -- increase our credibility ;-).<br /><br />Getting to the "Aaronhttps://www.blogger.com/profile/13451592775494356839noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-76486026713771007582012-10-30T19:19:40.959-07:002012-10-30T19:19:40.959-07:00Aaron,
Did you get my latest e-mail on the draft ...Aaron,<br /><br />Did you get my latest e-mail on the draft presentation to your economist colleagues?<br /><br />Cheerscostatahttps://www.blogger.com/profile/17932860172715556937noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-90803995280790167742012-10-30T19:12:12.011-07:002012-10-30T19:12:12.011-07:00Michael dV and Aaron,
Yep. You just created a ban...Michael dV and Aaron,<br /><br /><i>Yep. You just created a bank liability equal to the cash (base money) you deposited. That's credit money.</i><br /><br />Yes, now instead of holding 'base' money you are holding 'credit'; as Aaron said you now hold a bank liability.<br /><br />I just want to add that the base money you exchanged was not destroyed, but rather now belongs to Michael Hhttps://www.blogger.com/profile/08900572113023618278noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-76006407209465960412012-10-30T18:13:39.350-07:002012-10-30T18:13:39.350-07:00Hi Michael dV-
if I take cash and deposit it into...Hi Michael dV-<br /><br /><i>if I take cash and deposit it into a bank account, have I exchanged base money for credit money?</i><br /><br />Yep. You just created a bank liability equal to the cash (base money) you deposited. That's credit money.Aaronhttps://www.blogger.com/profile/13451592775494356839noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-82759449913357263142012-10-30T17:54:59.879-07:002012-10-30T17:54:59.879-07:00Please help with a simple concept I should already...Please help with a simple concept I should already know...if I take cash and deposit it into a bank account, have I exchanged base money for credit money?<br />thanksMichael dVhttps://www.blogger.com/profile/12483224373093707424noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-76519771902349080132012-10-30T12:26:35.078-07:002012-10-30T12:26:35.078-07:00Michael H
At present credit expanded finds shelte...Michael H<br /><br />At present credit expanded finds shelter in the savings of people.<br /><br />Those loans created out of thin air creates a asset and liability, and concurrent income stream. <br /><br />As these units of exchange are all fungible, that means greater purchasing power spent into the present.<br /><br />Bubbles are simply temporal distortions created by levitation of an asset Motley Foolhttps://www.blogger.com/profile/06902761012772262091noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-70813134693801358522012-10-30T11:37:22.271-07:002012-10-30T11:37:22.271-07:00Seems Hungary has found another way to kick the ca...Seems <a href="http://www.reuters.com/article/2012/10/30/us-hungary-bonds-citizenship-idUSBRE89T0OE20121030" rel="nofollow">Hungary has found another way to kick the can</a>?<br /><br />How long before we see this catch on... In the US of A too before the bell rings?<br />Jesse McLhttps://www.blogger.com/profile/13421437447024233320noreply@blogger.com