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Author Topic: Gold collapsing. Bitcoin UP.  (Read 2010881 times)
Torque
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September 22, 2014, 03:39:42 PM
 #12501

Gold now tarnished for good?

http://www.marketwatch.com/story/gold-crashes-and-is-now-tarnished-for-good-2014-09-22?siteid=yhoof2
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September 22, 2014, 04:14:38 PM
 #12502

Square to accept Bitcoin:

http://bankinnovation.net/2014/09/ceo-dorsey-says-square-will-accept-bitcoin/
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September 22, 2014, 04:40:41 PM
 #12503


The homo oeconomicus does not produce food. It's junk (food). The result of such an 'evolution in progress' at an artificially enforced (state, church, money) - and therefore exponentially increasing speed - is a species captured in an evolutionary cul-de-sac. At the moment we are watching the 'finale furioso'. Within the last 50 years, the bmi changed more than within one million years before.
Crypto will terminate the economy and the society (which is organised violence / collectivism). It leads to the rebirth of the community and therefore the rebirth of the homo sapiens.

A bit extreme, but count me in, (from my perspective it's just the unwinding of malinvestment and humans being the most versatile spies will adapt)

Thank me in Bits 12MwnzxtprG2mHm3rKdgi7NmJKCypsMMQw
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September 22, 2014, 04:47:50 PM
 #12504

Time for some infographics.. ^^

Derivatives bank exposure: http://demonocracy.info/infographics/usa/derivatives/bank_exposure.html

World debt: http://demonocracy.info/infographics/usa/world_debt/world_debt.html

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September 22, 2014, 04:49:20 PM
 #12505


Very nice! Ecosystem is growing nicely.

▂▃▅▇█▓▒░BTC-Cultist░▒▓█▇▅▃▂
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September 22, 2014, 04:52:15 PM
 #12506

Excellent interview of Thomas Piketty, author on wealth inequality. He received quite a bit of criticism on this work but only because the book was so popular and threatening to the financial elite.

http://www.econtalk.org/archives/2014/09/thomas_piketty.html
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September 22, 2014, 05:37:30 PM
 #12507

Excellent interview of Thomas Piketty, author on wealth inequality. He received quite a bit of criticism on this work but only because the book was so popular and threatening to the financial elite.

http://www.econtalk.org/archives/2014/09/thomas_piketty.html

Piketty's work essentially says:

1) Wealth inequality is bad
2) Capitalism over time concentrates wealth which grows inequality

He then takes a leap and assumes that the only mechanism to fix inequality is to vastly increase state power and increase income taxes. The problem is his recommendations will only further inequality. The majority of his tax proposals will not fall on the truly wealth rentier class, but on the middle and upper middle classes who are trying to build a safety net to live off of. And increasing state power only further entrenches protected special interests.

This is a decent review IMHO.
http://www.zerohedge.com/news/2014-04-28/critique-pikettys-solution-widening-wealth-inequality

Also, never mind the fact that America was founded on the principals of equality of opportunity, an end of the feudal system with hereditary rite, where people not born to the right parents could never own land/businesses/etc. Equality does not mean equality of financial positions or equality of results, which is what the meaning has been twisted into today, which is simply Orwellian Newspeak.

cypherdoc
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September 22, 2014, 05:39:30 PM
 #12508

oil breaks support:

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September 22, 2014, 05:46:15 PM
 #12509

Excellent interview of Thomas Piketty, author on wealth inequality. He received quite a bit of criticism on this work but only because the book was so popular and threatening to the financial elite.

http://www.econtalk.org/archives/2014/09/thomas_piketty.html

Piketty's work essentially says:

1) Wealth inequality is bad
2) Capitalism over time concentrates wealth which grows inequality

He then takes a leap and assumes that the only mechanism to fix inequality is to vastly increase state power and increase income taxes. The problem is his recommendations will only further inequality. The majority of his tax proposals will not fall on the truly wealth rentier class, but on the middle and upper middle classes who are trying to build a safety net to live off of. And increasing state power only further entrenches protected special interests.

This is a decent review IMHO.
http://www.zerohedge.com/news/2014-04-28/critique-pikettys-solution-widening-wealth-inequality

Also, never mind the fact that America was founded on the principals of equality of opportunity, an end of the feudal system with hereditary rite, where people not born to the right parents could never own land/businesses/etc. Equality does not mean equality of financial positions or equality of results, which is what the meaning has been twisted into today, which is simply Orwellian Newspeak.



have you read his book?  i've not.  so those solutions do seem off despite what i thought was a good analysis as to how we got to where we are.
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September 22, 2014, 05:50:10 PM
 #12510

the cash buyer is retreating:

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September 22, 2014, 05:53:21 PM
 #12511

pretty ugly:



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September 22, 2014, 05:58:23 PM
 #12512

not looking good:





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September 22, 2014, 06:02:37 PM
 #12513

have you read his book?  i've not.  so those solutions do seem off despite what i thought was a good analysis as to how we got to where we are.

No I've not, so I'll admit I'm not in a position to make strong claims regarding it. And yes overall I think it is a decent (although one-sided) view on how we got here today.

What I disagree with though are the leaps he takes in his conclusions (which I've read a bit) and the conclusions every MSM outlet is promoting based off of the book.

Increasing taxes in the manner he describes simply does nothing to address the super wealthy, which is the issue and source of concentrated wealth/power today, and instead further burdens the middle/upper middle classes (professionals/small businesses). His conclusions serve to prevent people in the middle class from entering the 1%, and in effect stratify and protect the 0.1%.

Don't get me wrong, I think we've descended back into an oligarchy controlled by an entrenched and power upper class. It's just that Picketty's recommendations I see as not just ineffectual towards addressing this problem, but in fact further supporting it.
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September 22, 2014, 06:10:42 PM
 #12514

have you read his book?  i've not.  so those solutions do seem off despite what i thought was a good analysis as to how we got to where we are.

No I've not, so I'll admit I'm not in a position to make strong claims regarding it. And yes overall I think it is a decent (although one-sided) view on how we got here today.

What I disagree with though are the leaps he takes in his conclusions (which I've read a bit) and the conclusions every MSM outlet is promoting based off of the book.

Increasing taxes in the manner he describes simply does nothing to address the super wealthy, which is the issue and source of concentrated wealth/power today, and instead further burdens the middle/upper middle classes (professionals/small businesses). His conclusions serve to prevent people in the middle class from entering the 1%, and in effect stratify and protect the 0.1%.

Don't get me wrong, I think we've descended back into an oligarchy controlled by an entrenched and power upper class. It's just that Picketty's recommendations I see as not just ineffectual towards addressing this problem, but in fact further supporting it.

as usual when you listen to analyses like his, if you put the situation into the perspective of Fed bailouts, it all becomes clear.  losses are prevented for those who already hold assets via inflation of the money supply.  the elite need to continue to live off the rents obtained from old wealth.
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September 22, 2014, 06:18:12 PM
 #12515

...
Also, never mind the fact that America was founded on the principals of equality of opportunity, an end of the feudal system with hereditary rite, where people not born to the right parents could never own land/businesses/etc. Equality does not mean equality of financial positions or equality of results, which is what the meaning has been twisted into today, which is simply Orwellian Newspeak.



Indeed. People these days seem to think that inequality and injustice are the same thing. They're not.

Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
Cryptoasset rankings and metrics for investors: http://onchainfx.com
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September 22, 2014, 06:24:28 PM
 #12516


Engineers vs.Thugs: the Power of Bitcoin, Cryptography &Tech

https://www.youtube.com/watch?v=KybZAEm0stY
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September 22, 2014, 07:00:06 PM
 #12517

this is one of the more interesting speculations as to the recent price fall; massive mining investments in China.  this just means that the US and others are falling further behind in the Bitcoin space.  they need to change their perspective:

http://blogs.wsj.com/moneybeat/2014/09/19/bitbeat-more-pain-for-bitcoin-prices-are-chinese-miners-to-blame/
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September 22, 2014, 07:03:59 PM
 #12518

sell it off baby, sell it off:

cypherdoc
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September 22, 2014, 07:06:09 PM
 #12519

bouncing on schedule:

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September 22, 2014, 07:10:59 PM
 #12520

Dow -108
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