364900+ entries in 0.085s
mircea_popescu: yes, but apparently you won't have classes, and be happy inferiors of some selected caste of masters.
mircea_popescu: well more like... you know... what alternative shall i have, woe unto me. i dun see one, other than lieing it you
mircea_popescu: the day you decide your financial security is "to be" ensured by nebulous third parties...
mircea_popescu: the day you quit cleanning your house it will cease to be clean.
mircea_popescu: yet people don't generally want to nor generally can be renaissance complete personalities.
mircea_popescu: in general, the problem is vast. the day your average us citizen has decided that politics is a problem that other people should solve for him, so he can focus on w/e his job is
mircea_popescu: i've been measuring it across the board, you've perhaps seen the tail ends of ti
mircea_popescu: what's worse, i doubt there can actually be an alternative to toughening the agents the fuck up.
mircea_popescu: i don't have a fully polished, drop-in alternative in any sense.
mircea_popescu: because your model fundamentally doesn't work, and so they're all stuck
mircea_popescu: everyone involved has a definite interest to muddy them
mircea_popescu: "nothing i do now should be construed as rape" *pow* *smack* *riiiip*
mircea_popescu: that's wishful thinking in a bowstring. what the fuck.
mircea_popescu: you know how they pass laws going "nothing in the foregoing should be construed as doing X" ?
mircea_popescu: decimation something like that. you're basically saying "it should be done", like a govt.
mircea_popescu: sadly there is no such thing as a "verifiable true financial"
mircea_popescu: this is kind of the general point here : you ignore workload at your peril. sooner or later it will punish you.
mircea_popescu: if you need fineness as an input your system is thereby aborted.
mircea_popescu: fun fact : loan granularity only becomes fine in systems which well handle coarse.
mircea_popescu: it's basically the equivalent of driving a car by touch.
mircea_popescu: if you want to cut wood and feed stoves, "town heating services" aren't useful to you.
mircea_popescu: herbijudlestoids yes. if you want to do all the work, you don't need someone to do the work for a group of "you".
mircea_popescu: decimation you want sane business models at all times. this one you're contemplating proposes to make 10 dollar steaks out of nine meat. that leftover dollar isn't enough to hire anything but mcdonalds staff. which won't make what you want.
mircea_popescu: that's my point. if he wants a self-service thing he doesn't need the bank to anything.
mircea_popescu: what, you think financial top management particularly WANTED a crisis ?
mircea_popescu: decimation so then you try to "make it work" which means you push both ends and then a decade down the road your shitty officers bring about a crisis of unheard magnitude
mircea_popescu: herbijudlestoids i just mean that if you want to dd on your own you can't possibly need a bank for any purpose.
mircea_popescu: herbijudlestoids why do you need a bank to interface your etrade account ?
mircea_popescu: how do you think i'll be able to coerce herbi here to do all that legwork for your blind "classes"
mircea_popescu: look at that, paschi di siena is on hte pinksheets now.
mircea_popescu: the note market is much more difficult than meets the eye.
mircea_popescu: sorta like you can either be male or female. have to pick one.
mircea_popescu: so in practice you want to either give all choice or no choice.
mircea_popescu: herbijudlestoids maybe. the problem here is this : the more choice you give people, the more fuckwited they are and the more scams you enable.
mircea_popescu: decimation folks love to think this, story of my life.
mircea_popescu: course at least for psychological reasons it's prolly better to have the storage and the banking business separated.
mircea_popescu: unlike the children spending their lunchbreak on bitcointalk, irl people actually have to like... you know, pay the rent and shit
mircea_popescu: Vexual 500 dollars a year to bank there and no further fees.
mircea_popescu: they'd rather not eat all that much treebark if at all possible.
mircea_popescu: anyway, the actual reason would be, of course, that the last thing any one government wants is me at the helm of a huge fiat bank.
mircea_popescu: is that the people supposed to finance lbos are either poor or stupid.
mircea_popescu: in the current situation, the only reason i conceivably could not lbo a bank with 100trn in "assets"
mircea_popescu: and on the strength of having grown from 10mn to 1bn in ayear, i can literally afford anything.
mircea_popescu: that you can tell the government of X irrelevant country to either adapt its enforcement to what you do or else prepare for eating treebark
mircea_popescu: haha yea i saw that. ppl were like... headshake and backing up
mircea_popescu: maybe this year i cut a deal with a large bank. or maybe i buy one. or maybe next year. or who knows
mircea_popescu: there's all the various scammers trying to peel the eager youth public
mircea_popescu: in general, a large number of fluffers are trying to scam various particular venues. there's all the dorks pretending like they have projects for the benefit of the clueless va market.
mircea_popescu: "Here's the latest Max Keiser in which he and Stacey Herbert to a good job of explaining what I have in mind. " this sort of thing will instakill any project, for instance.
mircea_popescu: lot of hype, no actual subtance that i so far noticed.
mircea_popescu: herbijudlestoids have heard, yea. sort-of ripple/ot/etc