(Untitled)

[daoistraver]

The Real Story of Money

This guy says it so directly and simply. Really great.

On a related note:
Asshole (the Drinking Game)

Comments

[skiadaimonos]

The problem in nitpicky terms is that the fed is not exactly why and how the credit money system was created globally.

The real interesting thing in non-nitpcky terms is that the money system is a tremendous, big, flamboyant (perhaps THE tremendous, big, flamboyant) example of how the mental/material (symbolic/real) binarism is "false" in objective terms.

[daoistraver]

"The real interesting thing in non-nitpcky terms is that the money system is a tremendous, big, flamboyant (perhaps THE tremendous, big, flamboyant) example of how the mental/material (symbolic/real) binarism is "false" in objective terms."

Right, well that's one reason why it's so fascinating to me hehe. I am in some ways exploring with socio-economics what Adrien explores with interpersonal identity...

It's also the elephant in the middle of the room in terms of the "evils of capitalism"...

The Fed is a relatively recent refinement of private central banking, which itself really came into being with the Bank of England... But the fractional reserve banking scam was around before that...

[skiadaimonos]

So then my question (proposal?) to you is to add the notion "value" in that examination

[antayla]

He sort of lost me when he said banks don't do anything useful :P. I don't know if I agree that banks as lenders provide no goods or services. What banks do by financing some ventures at a lower rate than others is weed out good business ideas from bad ones, or ones that will likely fail due to bad management. It is of course ridiculous that they can lend on money that doesn't exist, but then again... if they weren't doing it, you can bet that the government would be doing it under less rational terms than the banks do.

[daoistraver]

Or private citizens

[skiadaimonos]

Bleh, just saw this.
I am so bad about getting on messengers :( Sorry luv. I'll check in soon.

[skiadaimonos]

will say that while "value" is (to a great extent) subjective, collective exchange creates an equilibrium value allowing people to trade goods indirectly.
And I will also say that I do believe that there are laws of economics. I guess if you got really deep with it, it would boil down to thermodynamics.

Yeah but again, "collective exchange creates an equilibrium value allowing for exchange" says that "we all know that surely there must be value because we can exchange and we would only exchange if things were valuable, right?" Which is *intuitively* (and by this I actually mean something quite real) correct, but still means that the notion is left unexamined.

As for thermodynamics and the laws of economics, sure absolutely. But those are *functional* not *teleological* relationships. To the extent that we conflate the two, we will keep debating systemic changes in the financial system as solutions to substantive problems.
Ok none of this is coming out in english. Sorry

puppy

[alektraunic]

tonight
we have 3 tix
call