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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1807735 times)
wachtwoord
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May 28, 2014, 05:55:00 PM
 #8461

This didn't surprise me that non-Austrian economists don't get Bitcoin, since they basically don't understand economics.

Haha this so much. Keynsians don't understand economics.

Whenever I make fun of "economists" (the vast majority of the economists in the worlds are Keynsians) everyone thinks I'm the one that's dumb because they have a degree in economics and my degrees are in another field, surely they must be right Wink

Just today I read an article that the ECB (European Central Bank) is very afraid of inflation because this will lead to people hoarding Euros. So funny. Well, at least they won't find me hoarding more Euros than I need for liquidity, I promise them that.

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vokain
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V.V.V.V.V.


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May 28, 2014, 06:21:12 PM
 #8462


People with a degree in economics will be among the last to truly understand the economics behind Bitcoin. Too much disinformation posing as knowledge stands between them and understanding.

The intelligent, innovative contrarians among them will understand. Yes this is the minority but dismissing them is unfair.
Yeah, I have a degree in economics  Cool

But I read Bastiat, von Mises and Hayek on my free time. This didn't surprise me that non-Austrian economists don't get Bitcoin, since they basically don't understand economics. But I was sad to see that most current Austrians don't get it either. They simply had to read Hayek ffs... but I guess Hayek isn't enough Austrian for these dogmatic people...

Summary

Economics is only a social extension of a natural energy system. It, also, has its three passive components. Because of the distribution of wealth and the lack of communication and lack of data, this field has been the last energy field for which a knowledge of these three passive components has been developed.
Since energy is the key to all activity on the face of the earth, it follows that in order to attain a monopoly of energy, raw materials, goods, and services and to establixh a world system of slave labor, it is necessary to have a first strike capability in the field of economics. In order to maintain our position, it is necessary that we have absolute first knowledge of the science of control over all economic factors and the first experience at engineering the world economy.

In order to achieve such sovereignty, we must at least achieve this one end: that the public will not make either the logical or mathematical connection between economics and the other energy sciences or learn to apply such knowledge.

This is becoming increasingly difficult to control because more and more businesses are making demands upon their computer programmers to create and apply mathematical models for the management of those businesses.

It is only a matter of time before the new breed of private programmer/economists will catch on to the far reaching implications of the work begun at Harvard in 1948. The speed with which they can communicate their warning to the public will largely depend upon how effective we have been at controlling the media, subverting education, and keeping the public distracted with matters of no real importance.

...

To make a short story of it all, it was discovered that an economy obeyed the same laws as electricity and that all of the mathematical theory and practical and computer know-how developed for the electronic field could be directly applied in the study of economics. This discovery was not openly declared, and its more subtle implications were and are kept a closely guarded secret, for example that in an economic model, human life is measured in dollars, and that the electric spark generated when opening a switch connected to an active inductor is mathematically analogous to the initiation of war.


...

Diversion, the Primary Strategy

Experience has prevent that the simplest method of securing a silent weapon and gaining control of the public is to keep the public undisciplined and ignorant of the basic system principles on the one hand, while keeping them confused, disorganized, and distracted with matters of no real importance on the other hand.
This is achieved by:

disengaging their minds; sabotaging their mental activities; providing a low-quality program of public education in mathematics, logic, systems design and economics; and discouraging technical creativity.

....


Diversion Summary

Media: Keep the adult public attention diverted away from the real social issues, and captivated by matters of no real importance.
Schools: Keep the young public ignorant of real mathematics, real economics, real law, and real history.

Entertainment: Keep the public entertainment below a sixth-grade level.

Work: Keep the public busy, busy, busy, with no time to think; back on the farm with the other animals.

...

Mr. Rothchild's Energy Discovery

What Mr. Rothschild had discovered was the basic principle of power, influence, and control over people as applied to economics. That principle is "when you assume the appearance of power, people soon give it to you."

Mr. Rothschild had discovered that currency or deposit loan accounts had the required appearance of power that could be used to induce people (inductance, with people corresponding to a magnetic field) into surrendering their real wealth in exchange for a promise of greater wealth (instead of real compensation). They would put up real collateral in exchange for a loan of promissory notes. Mr. Rothschild found that he could issue more notes than he had backing for, so long as he had someone's stock of gold as a persuader to show his customers.

Mr. Rothschild loaned his promissory notes to individual and to governments. These would create overconfidence. Then he would make money scarce, tighten control of the system, and collect the collateral through the obligation of contracts. The cycle was then repeated. These pressures could be used to ignite a war. Then he would control the availability of currency to determine who would win the war. That government which agreed to give him control of its economic system got his support.

Collection of debts was guaranteed by economic aid to the enemy of the debtor. The profit derived from this economic methodology mad Mr. Rothschild all the more able to expand his wealth. He found that the public greed would allow currency to be printed by government order beyond the limits (inflation) of backing in precious metal or the production of goods and services.

...مكتوب
Escape the plutocrats’ zanpakutō, Flower in the Mirror, Moon on the Water: brave “the ascent which is rough and steep” (Plato).
adamstgBit
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May 28, 2014, 06:22:16 PM
 #8463

This didn't surprise me that non-Austrian economists don't get Bitcoin, since they basically don't understand economics.

Haha this so much. Keynsians don't understand economics.

Whenever I make fun of "economists" (the vast majority of the economists in the worlds are Keynsians) everyone thinks I'm the one that's dumb because they have a degree in economics and my degrees are in another field, surely they must be right Wink

Just today I read an article that the ECB (European Central Bank) is very afraid of inflation because this will lead to people hoarding Euros. So funny. Well, at least they won't find me hoarding more Euros than I need for liquidity, I promise them that.


WTF!?

wachtwoord
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May 28, 2014, 06:23:15 PM
 #8464

This didn't surprise me that non-Austrian economists don't get Bitcoin, since they basically don't understand economics.

Haha this so much. Keynsians don't understand economics.

Whenever I make fun of "economists" (the vast majority of the economists in the worlds are Keynsians) everyone thinks I'm the one that's dumb because they have a degree in economics and my degrees are in another field, surely they must be right Wink

Just today I read an article that the ECB (European Central Bank) is very afraid of inflation because this will lead to people hoarding Euros. So funny. Well, at least they won't find me hoarding more Euros than I need for liquidity, I promise them that.


WTF!?

I mistyped deflation. Thanks for telling me Smiley

ErisDiscordia
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May 28, 2014, 07:32:57 PM
 #8465


People with a degree in economics will be among the last to truly understand the economics behind Bitcoin. Too much disinformation posing as knowledge stands between them and understanding.

The intelligent, innovative contrarians among them will understand. Yes this is the minority but dismissing them is unfair.

Oh yes of course there are bound to be people like that in each group. No group is homogenous. I'm just stating that if any people with an economics degree do get it it's in spite of their "education" not thanks to it.

It's all bullshit. But bullshit makes the flowers grow and that's beautiful.
bitcoinsrus
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May 28, 2014, 07:43:49 PM
 #8466

This didn't surprise me that non-Austrian economists don't get Bitcoin, since they basically don't understand economics.

Haha this so much. Keynsians don't understand economics.

Whenever I make fun of "economists" (the vast majority of the economists in the worlds are Keynsians) everyone thinks I'm the one that's dumb because they have a degree in economics and my degrees are in another field, surely they must be right Wink

Just today I read an article that the ECB (European Central Bank) is very afraid of inflation because this will lead to people hoarding Euros. So funny. Well, at least they won't find me hoarding more Euros than I need for liquidity, I promise them that.


WTF!?

I mistyped deflation. Thanks for telling me Smiley

do you have a link to the article?
wachtwoord
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May 28, 2014, 07:51:49 PM
 #8467

This didn't surprise me that non-Austrian economists don't get Bitcoin, since they basically don't understand economics.

Haha this so much. Keynsians don't understand economics.

Whenever I make fun of "economists" (the vast majority of the economists in the worlds are Keynsians) everyone thinks I'm the one that's dumb because they have a degree in economics and my degrees are in another field, surely they must be right Wink

Just today I read an article that the ECB (European Central Bank) is very afraid of inflation because this will lead to people hoarding Euros. So funny. Well, at least they won't find me hoarding more Euros than I need for liquidity, I promise them that.


WTF!?

I mistyped deflation. Thanks for telling me Smiley

do you have a link to the article?

It's behind a pay wall (and in Dutch). Let met see what I can do.

wachtwoord
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May 28, 2014, 07:58:17 PM
 #8468

This is the best I could do (I don't have access to a text version so auto translate won't work).


bitcoinsrus
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May 28, 2014, 08:00:15 PM
 #8469

This is the best I could do (I don't have access to a text version so auto translate won't work).



Thanks appreciated.  (Now only if I could read it  Tongue)
cypherdoc
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May 30, 2014, 11:34:04 AM
 #8470

Gold Collapsing. Bitcoin UP.
cypherdoc
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May 30, 2014, 12:30:47 PM
 #8471

I love Breakaways.

Everyone gets that deer in the headlights look.
bitcoinsrus
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May 30, 2014, 02:23:56 PM
 #8472

I love Breakaways.

Everyone gets that deer in the headlights look.

cypherdoc
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May 30, 2014, 02:28:28 PM
 #8473

I love Breakaways.

Everyone gets that deer in the headlights look.



no, i said headlights.  as in "about to be run over":

cypherdoc
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May 30, 2014, 02:31:11 PM
 #8474

oopsy:



Peter Schiff is selling.
cypherdoc
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May 30, 2014, 03:34:56 PM
 #8475

hey Teebone,

is gold still laughing?
cypherdoc
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May 30, 2014, 03:55:33 PM
 #8476

getting uglier:

spazzdla
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May 30, 2014, 03:59:28 PM
 #8477

Gold and BTC have one hell of a relationship..  It's like freaking clock work.. BTC up gold down..  Gold up BTC down.
Melbustus
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May 30, 2014, 04:15:38 PM
 #8478

Where's Mark Williams these days?

From December:

"One of the harshest critics is Mark Williams, who teaches finance at the Boston University School of Management. He predicts that in the first half of 2014, bitcoins will lose almost 99 percent of their value, falling below $10. "

http://www.washingtonpost.com/blogs/the-switch/wp/2013/12/10/this-finance-expert-thinks-bitcoin-will-fall-99-percent-by-june/

Just bugs me to no end that there's essentially no career risk for these "experts" to make such harsh predictions and be so thoroughly wrong. If an engineer is ever that wrong, bad things happen, and they don't get work again. When a finance/econ guy is aggressive, harsh, willfully ignorant, and ultimately dead-wrong....his career is usually just fine.

Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
But Bitcointalk & /r/bitcoin are heavily censored. bitco.in/forum, forum.bitcoin.com, and /r/btc are open.
Best info on Casascius coins: http://spotcoins.com/casascius
chriswilmer
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May 30, 2014, 04:20:40 PM
 #8479

Where's Mark Williams these days?

From December:

"One of the harshest critics is Mark Williams, who teaches finance at the Boston University School of Management. He predicts that in the first half of 2014, bitcoins will lose almost 99 percent of their value, falling below $10. "

http://www.washingtonpost.com/blogs/the-switch/wp/2013/12/10/this-finance-expert-thinks-bitcoin-will-fall-99-percent-by-june/

Just bugs me to no end that there's essentially no career risk for these "experts" to make such harsh predictions and be so thoroughly wrong. If an engineer is ever that wrong, bad things happen, and they don't get work again. When a finance/econ guy is aggressive, harsh, willfully ignorant, and ultimately dead-wrong....his career is usually just fine.

Someone should hold him accountable... do an interview with him and get his response (today) about being so wrong on record.
Torque
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May 30, 2014, 04:23:18 PM
 #8480

Where's Mark Williams these days?

From December:

"One of the harshest critics is Mark Williams, who teaches finance at the Boston University School of Management. He predicts that in the first half of 2014, bitcoins will lose almost 99 percent of their value, falling below $10. "

http://www.washingtonpost.com/blogs/the-switch/wp/2013/12/10/this-finance-expert-thinks-bitcoin-will-fall-99-percent-by-june/

Just bugs me to no end that there's essentially no career risk for these "experts" to make such harsh predictions and be so thoroughly wrong. If an engineer is ever that wrong, bad things happen, and they don't get work again. When a finance/econ guy is aggressive, harsh, willfully ignorant, and ultimately dead-wrong....his career is usually just fine.

Yep, so called "experts" have been making wrong predictions throughout time, some of them so blatantly wrong it's ridiculous.  Especially in the last 100 years or so.  And since there is zero penalty for some "expert" asshat to made a terribly wrong prediction, it will just continue ad nauseum in the future.

http://www.rinkworks.com/said/predictions.shtml

http://www.professorbitcorn.com

Mark Williams has 30 days left to be correct, or get laughed out of existence.  It's completely plausible that we may see an ATH in 30 days or so, which would be even funnier.
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