cypherdoc (OP)
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September 22, 2014, 05:58:23 PM |
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rocks
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September 22, 2014, 06:02:37 PM |
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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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cypherdoc (OP)
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September 22, 2014, 06:10:42 PM |
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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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Melbustus
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September 22, 2014, 06:18:12 PM |
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... 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.
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Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
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cypherdoc (OP)
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September 22, 2014, 07:03:59 PM |
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sell it off baby, sell it off:
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cypherdoc (OP)
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September 22, 2014, 07:06:09 PM |
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bouncing on schedule:
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cypherdoc (OP)
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September 22, 2014, 07:10:59 PM |
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Dow -108
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cypherdoc (OP)
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September 22, 2014, 07:14:29 PM |
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Breaking out. just look at that volume from Friday: escape velocity:
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brg444
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September 22, 2014, 07:21:31 PM |
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so GABI has started buying http://www.futuresmag.com/2014/09/22/bitcoin-fund-launchesinteresting that they have developed partnerships with Bitfinex & Coinsetter
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"I believe this will be the ultimate fate of Bitcoin, to be the "high-powered money" that serves as a reserve currency for banks that issue their own digital cash." Hal Finney, Dec. 2010
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cypherdoc (OP)
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September 22, 2014, 07:30:07 PM |
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The divergence is coming
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boumalo
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September 22, 2014, 08:08:22 PM |
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He is a marxist, he wants to control everyone, be careful who you admire
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cypherdoc (OP)
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September 22, 2014, 08:44:20 PM |
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He is a marxist, he wants to control everyone, be careful who you admire lol, finding out more and more about him.
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cypherdoc (OP)
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September 22, 2014, 08:55:33 PM |
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cypherdoc (OP)
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September 22, 2014, 09:44:12 PM |
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i've been ignoring this one all day but then decided to take a look. lol: Million dollar smile
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boumalo
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September 22, 2014, 10:12:51 PM |
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Do you have any target on gold/silver cypherdoc ? I have to admit that i didn't believe you back in July, even if a correction clearly made sense. Now the real question is where the bottom will be... We're not there yet, i do think PM will go down with stocks, and the correction in stocks should happen (soon ?).
Gaud, the last thing i want to do is create another massive thread like the "Gold-I smell a trap" one over in Economics that went on for 5 months. it was just too much work. most ppl here into gold/silver won't like what i have to say so don't bother reading further. my views haven't changed. i think gold/silver is a relic of the past and Bitcoin will assume its place as a new standard. i think gold drops to $400. i think that we are about to embark on a massive debt deleveraging phase which will be deflationary and take stocks down with it to test the March 09 lows at least. we may drift a few more days higher in the Dow before it rolls over. i see divergences everywhere but especially with the Transports, Russell, and ALL commodities like oil, natural gas, wheat, corn, rice, soybeans, copper and gold/silver. the silver chart especially is busted. the general mining stocks are telegraphing hard times ahead like FCX, TCK, BHP. the junior miners have been devastated as in GDXJ. GDX is following it down. there's a good chance Wall St and the Fed are desperately trying to manipulate the Dow higher to get retail investors back in but don't buy it. once we roll they will sell/short you into oblivion. the Vix did an underthrow today once again to try and create complacency. i'm going to try and not say much more as i could be wrong and i know the gold bugs are going to start swarming with the hate. Gold has qualities that Bitcoin doesn't have and Gold has been a store of value and exchange for thousands of years; it will still be the case for the foreseeable future or should I say for "a considerable time" to talk like Yellen The FED is still buying up assets and its balance sheet is still growing; we are yet to see what would happened if it was trying to reduce it!
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Melbustus
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September 22, 2014, 10:16:11 PM |
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Do you have any target on gold/silver cypherdoc ? I have to admit that i didn't believe you back in July, even if a correction clearly made sense. Now the real question is where the bottom will be... We're not there yet, i do think PM will go down with stocks, and the correction in stocks should happen (soon ?).
Gaud, the last thing i want to do is create another massive thread like the "Gold-I smell a trap" one over in Economics that went on for 5 months. it was just too much work. most ppl here into gold/silver won't like what i have to say so don't bother reading further. my views haven't changed. i think gold/silver is a relic of the past and Bitcoin will assume its place as a new standard. i think gold drops to $400. i think that we are about to embark on a massive debt deleveraging phase which will be deflationary and take stocks down with it to test the March 09 lows at least. we may drift a few more days higher in the Dow before it rolls over. i see divergences everywhere but especially with the Transports, Russell, and ALL commodities like oil, natural gas, wheat, corn, rice, soybeans, copper and gold/silver. the silver chart especially is busted. the general mining stocks are telegraphing hard times ahead like FCX, TCK, BHP. the junior miners have been devastated as in GDXJ. GDX is following it down. there's a good chance Wall St and the Fed are desperately trying to manipulate the Dow higher to get retail investors back in but don't buy it. once we roll they will sell/short you into oblivion. the Vix did an underthrow today once again to try and create complacency. i'm going to try and not say much more as i could be wrong and i know the gold bugs are going to start swarming with the hate. Gold has qualities bugs that Bitcoin doesn't have and Gold has been a store of value and exchange for thousands of years and used to be used for exchange; it will still be the case for the foreseeable future or should I say for "a considerable time" to talk like Yellen The FED is still buying up assets and its balance sheet is still growing; we are yet to see what would happened if it was trying to reduce it! FTFY (read the last few hundred pages of this thread for details)
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Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
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zeetubes
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September 22, 2014, 11:48:25 PM |
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Any theory why so many commodities are heading down at the moment? Especially when QE is still going strong.
Manipulation perhaps?
QE's all gone to the wrong places, ie, the deflationary black hole of UST's and Fed Excess Reserves. not to mention the stock mkt. It could be the beginning of a hyperdeflation. These indicators are all early stages in the production structure, which would see low prices first. But no use to blame me if it does not happen. QE is primarily used to keep the banks afloat. Ostensibly the trillions the Fed hands over to the banks is supposed to be injected into the economy via business loans etc, but most of it is immediately loaned back to the Fed for which the Fed pays the banks interest. It's a neat system for the banks who would otherwise just die and it also allows the execs' bonuses to be paid. Some of the money also goes into the stock markets in order to maintain an appearance that the economy is something other than a complete trainwreck. But if any of the QE fake dollars were to go into the actual economy then it would be inflationary. Fundamentally the economy can't improve until the zombie banks die a natural death but the Fed won't let the banks die. Catch 22 limbo.
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iCEBREAKER
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Crypto is the separation of Power and State.
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September 23, 2014, 12:09:27 AM |
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Fundamentally the economy can't improve until the zombie banks die a natural death but the Fed won't let the banks die. Catch 22 limbo.
The biflation is killing me. Everything I have (PM & BTC) is getting blowtorched, while everything I need (cell, auto insurance, Grubhub, housing, beer/wine) is already exorbitant and getting worse. How far can this trend go? What gives first?
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██████████ ██████████████████ ██████████████████████ ██████████████████████████ ████████████████████████████ ██████████████████████████████ ████████████████████████████████ ████████████████████████████████ ██████████████████████████████████ ██████████████████████████████████ ██████████████████████████████████ ██████████████████████████████████ ██████████████████████████████████ ████████████████████████████████ ██████████████ ██████████████ ████████████████████████████ ██████████████████████████ ██████████████████████ ██████████████████ ██████████ Monero
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| "The difference between bad and well-developed digital cash will determine whether we have a dictatorship or a real democracy." David Chaum 1996 "Fungibility provides privacy as a side effect." Adam Back 2014
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