Keith wrote (indirectly in reply to my comment about median vs. mean): > > In my previous posting I was, of course, speaking only metaphorically when > I said half of the world will be rich and half not rich at the end of a > crisis or when all currencies (including ascribed values to derivatives) > are resolved. This only strictly applies with a one-off bet between two > people. The point is that one portion of the population will be distinctly > worse off than they thought they were before, and the other will be > distinctly better off.
Yes, but the real point is that those who are distinctly better off are just a tiny minority (and usually always the same), so their rip-off of everyone else is anti-social, not to say criminal (because it kills people). In a democracy, this should be stopped by the majority. But as long as the large Predators manage to fool the majority with cavemen PR, the rip-off will continue. Also, the bottom-up re-distribution of money not only happens by speculation, but it is institutionalized by compound interest, which automatically makes the rich richer (gaining compound interest) and the poor poorer (paying compound interest). It has been estimated that this alone has the volume of $1 Billion PER DAY in Germany alone! ($1 Bn. flowing from the poorest 80% to the richest 20% -- some of which reside abroad) > While a crisis is not resolved -- as now -- no-one can possibly say what > the true monetary situation is. It's rather like the supposed problem of > Schrodinger's cat in quantum physics. While the cat is unobserved no-one > can tell whether the cat is alive or dead. In the monetary world there is > so much more currency (plus derivatives) in a state of limbo than there are > current transactions (of real value) going on that no-one knows who will be > the winners or losers when it all shakes down. Absurd fog-throwing. It is well known from past "crises" (which are actually organized rackets, manufactured by and for the super-rich) that "the usual suspects" gain billions and the rest of the world loses them. It's no rocket science and the "disappeared" billions don't go to Mars! And it's no coincidence that Bernie Madoff was NASDAQ chairman... Chris ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ SpamWall: Mail to this addy is deleted unread unless it contains the keyword "igve". _______________________________________________ Futurework mailing list [email protected] https://lists.uwaterloo.ca/mailman/listinfo/futurework
