Back when in 1991 I testified before Congress on the law our coalition passed to bar NASA from competing with private orbital launch companies <https://youtu.be/boLdXiLJZoY>, I was forced to face some harsh realities about the capital market failure modes, as well as the public sector bureaucracy's failure mode addressed by the law. As a result, in 1992, I wrote a white paper to essentially replace the 16th Amendment with a net asset tax (with the rate set by the Fed's interest rate on the national debt) and replace most all government services with private sector services supported by a citizen's dividend. <https://groups.google.com/g/misc.taxes/c/Rokeh_3fc4E/m/jrsocFaCSM8J> It took me a while -- indeed until after the Occupy Wall Street movement -- to realize the Fed had to be replaced with a monetary system wherein men of draft age would intermediate the positive network externalities of the civilization, including all functions of government via their individual selection of privatized social goods to deliver, starting with their own replacement reproduction. A lot of folks are still fooling themselves about the inherent nature of force embodied in money and finance -- not the least of which are the libertarians who have this risible notion of "the non-aggression axiom" that seeks to socialize the cost of protecting property rights even as the wealthy eat families alive and depopulate their societies by outbidding young men for the fertile years of young women thereby selecting OUT of future generations the characteristics "the economy" demands in this generation.
These fools are going to cause us to wade through rivers of blood in the not too distant future in a rhyme with The Thirty Years War for freedom from their quasi-religion posing as "social science". They could have listened to me any time since 1992 but they didn't. They could have listened to me about applying Algorithmic Information Criterion for macrosocial model selection at any time during the last several years, and cleaned out the quasi-religious social pseudosciences before they sent us into a war for freedom from their quasi-religion, but they, instead, insist on risible models of "machine learning" and "big data" in "Large Models" so they can have cute chatter boxes as the fruit of 50 years of exponential growth in computation capacity. On Tue, Sep 27, 2022 at 8:40 AM James Bowery <[email protected]> wrote: > Erratum: I doubt you'll find ... > > On Tue, Sep 27, 2022 at 8:09 AM James Bowery <[email protected]> wrote: > >> I doubt you'll not find anyone more seriously, ultraviolet-laser focused >> on slicing through the vitals of the centralized monetary/financial system >> than me. See Property Money >> <https://jimbowery.blogspot.com/2020/01/property-money.html>. >> >> That said, there is a place, in a sane world (not that we currently >> inhabit such) for high frequency trading and it has to do with propagation >> of information. Note, I did not say we inhabit a sane world. But what >> about a world that has gone insane because the positive network >> externalities of civilization are being centralized (such as in a central >> bank controlling the world's reserve currency) and then doled out through >> an increasingly corrupt hierarchy of money power? Obviously, the network >> effect of securities exchanges will become part of that corrupt money power >> and parasitize anyone who attempts to trade via their network effect >> monopolies. There are actually quite a few market inefficiencies that can >> be detected and exploited in the stock market with high frequency trading >> but the problem is they are all of a small enough magnitude that when you >> exploit them your trading fees will go into feeding the beast and leave you >> with no gain if not a loss. That's why I advised to go to the lowest-cost >> learning environment (Alpaca) and do paper trading if you are insistent, as >> are some, on trying to make money with machine learning in trading. 99% >> will discover that they can't succeed and be out only the money they could >> have made by doing something else with their time. That's merciful. As >> for the 1%, well, yes, they are feeding the parasitic beast but if they go >> through the gauntlet and actually discover a large enough market >> inefficiency they will be given the opportunity to do something about the >> beast with the money they made -- something, that is, other than ranting in >> an online forum or on the street corner -- something like implementing >> Property Money. >> >> On Mon, Sep 26, 2022 at 10:45 PM Alan Grimes via AGI < >> [email protected]> wrote: >> >>> =\ >>> >>> The recent post about pumping munee out of the stonk market really got >>> to me. Indeed, it has made me crawl out of my comfy little turtle shell >>> and violate my hiatus to explain eactly how stupid u ppl are. >>> >>> I know the best way to make a hairless monkey to behave irrationally is >>> to flash a few $-signs around. But seriously, have you thought about how >>> abominable the notion of a money pump is? Sure, your irrational >>> monkey-mind is happy because it has more jingle in the pocket. But >>> seriously, what is that money? Where did it really come from? The >>> ulitmate truth is that it is either a fiction printed up by the central >>> bank or it is actually a drag against the process of rational price >>> discovery that the market should be in a healthy economy. >>> >>> In a healthy economy it shouldn't exist. Investors should invest in >>> capitol and profitable companies and take home a share of the earnings >>> on that capitol and those companies. >>> >>> What has happened is that, in the quiet of night, this engine of >>> capitolism has been replaced by a fictiicous faxsimilie but where the >>> assets are notional instead of tangible, and can be inflated or debased >>> at the whims of the controlling oligarchy. This should be starkly >>> obvious to everyone who has even the most casual acquaintance with the >>> stock market. The truth is revealed by what makes the biggest news. It >>> is not the outcome of a business venture, or any real news, but the >>> minutes of the Fed meetings, that reveal clues about how the market will >>> be manipulated for the next six weeks because that is the only true >>> driver of the stock market. >>> >>> This process is called financilization. Where wise and prudent >>> investment is replaced with mad speculation on ever-more abstract >>> "financial insturments" (read: Ponzi Schemes too complex to be >>> immediately recognizable as such). Remember the "rust belt" in the USA? >>> -> Financilization did that. >>> >>> The crux of the matter is that our civilization will not continue unless >>> we de-financilize. >>> >>> I met a man at the bank the other day when I was making on of my silver >>> purchases, he was invested in SLV, the financialize form of silver that >>> is used to manipulate the price of silver. He was a good person with >>> half of the right idea. The manipulation regime on silver is doomed and >>> will likely fail within six months. At that time I will drink his >>> milkshake because I have the metal and he has a 200:1 leveraged IOU. >>> >>> That is the problem. All ponzi schemes are doomed. Our civililzation is >>> tied to this ponzi scheme. When this ponzi scheme unwinds it will take >>> ALL fiat currencies with it. It will start in eurostan and spread to USA >>> a few days later. The open question is how much civilization will >>> survive. The other isuses on the horizon being famine, the grand solar >>> minimum, the mass die-off of the vaccinated, massive political upheval >>> caused by the above. >>> >>> After that things are going to be fucking awesome, we'll have a >>> functioning economy for the first time in my life, and surpressed >>> technologies such as cold fusion and god knows what else will finally >>> see the light of day. My focus is on surviving the intermediate time >>> though. It's going to be rough. I don't know why I'm talking to you >>> flatheads today but I just couldn't let that thread stand. =| >>> >>> -- >>> Beware of Zombies. =O >>> #EggCrisis #BlackWinter >>> White is the new Kulak. >>> Powers are not rights. >>> ------------------------------------------ Artificial General Intelligence List: AGI Permalink: https://agi.topicbox.com/groups/agi/T59fa6f0dee71710f-M7a33f4d161000cc694e86afe Delivery options: https://agi.topicbox.com/groups/agi/subscription
