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mircea_popescu: this would prevent prices from going up, as you can't use your supposed dollars.
mircea_popescu: the difference would be hidden [from the market] through administrative menas.
mircea_popescu: suppose you had 10k in the bank but were not allowed to spend more than 1k a year
mircea_popescu: the difference is hidden through administrative means.
mircea_popescu: benkay well, about 60% of work able adults in the us have a job. the us official unemployment is 10%.
mircea_popescu: taub before bitcoin i was doing business consulting. this isn't the sort of thing books or universities teach, other than in a very basic and fundamentally useless manner.
mircea_popescu: all this gets mixed together in the market an a price emerges.
mircea_popescu: benkay it's one huge concerto of "they're going to be 6 ounces stupid this month" "no, just 5.4" "no really, 6.2"
mircea_popescu: well i'm one of the few people in bitcoin that knows finance.
mircea_popescu: if they hadn't the us govt would simply pretend like there's no inflation, but you just can't spend your dollars sorry. they ARE doing it in any other field where there's no easy recourse, such as for instance employment.
mircea_popescu: it wouldn't work worth a shit if they tried to hedge both parts together, which is why they got separated. this incidentally is how finance works, isolates risks by types much like science isolates variables.
mircea_popescu: the reason the eurodollar future is the most traded derivative in the world is due exactly to the fact that people are trying to hedge the inflation part.
mircea_popescu: inflation is one thing, administrative limitation of the use of your held reserves is another thing.
mircea_popescu: and so pretty much all trade taking place with delivery in dollars will reference eurodollars (which really means, non-us dollars) rather than the us-dollars.
mircea_popescu: anyway. because the us govt can't be taken seriously, the financial world has settled on the non-us held dollar as the measure of dollars,
mircea_popescu: it's one of the things the new dodd frank stuff is for.
mircea_popescu: since the us is a greatly impopular rogue state, the pressure on the currency is marked.
mircea_popescu: if i have a bill from my cigar supplier in cuba for 10k usd, i can't use 10k usd from my ny bank account to pay it. i can however use 10k usd from my french bank to pay it just fine.
mircea_popescu: you can however send euro-dollars to anyone you please.
mircea_popescu: for instance you can't send usdollars to "terrorists".
mircea_popescu: which is why they trade at a premium over the domestic shit.
mircea_popescu: eurodollars are dollar deposits held in european originally, currently foreign banks.
mircea_popescu: he's wrong by default and absolutely stupid for even doing this sort of camwhoring without a cam.
mircea_popescu: unless he's somebody, i don't give a shiot what he thinks he thinks.
mircea_popescu: taub you understand that it is perfectly moot what nobody writes on a page ?
mircea_popescu: that retarded link wants me to login on the strength of "Economics of Money and Banking, Part One"
mircea_popescu: "Economics of Money and Banking", no mention of... economics ?
mircea_popescu: how's he different from all the tards starting ipos ? how can i distinguish him from kludge ?
mircea_popescu: basically this sounds like someone was playing arkanoid while high.
mircea_popescu: if you have "shields" you will never use metal structure.
mircea_popescu: anyway, your capital ship would probably be made of styrofoam
mircea_popescu: thestringpuller ya lol, i wonder what ppl will do when they'll realise that.
mircea_popescu: do you know one of the two people killed in benghazi was playing eve at the time ?
mircea_popescu: A space gun, by itself, is not capable of placing objects into stable orbit around the object (planet or otherwise) from which it is launched. The laws of two-body gravitation make it impossible to reach a stable orbit
mircea_popescu: thestringpuller we're not financing it becauser it's fucking impossible to shoot something into orbit
mircea_popescu: "what's the difference anyway ?" "plain sex can make your day but anal sex can make your hole weak"
mircea_popescu: why is vice "hiring" all these marginally literate college dropouts to write about shit they've never done/seen/understood ?
mircea_popescu: just like you don't want to live in a place where you have to eat shit.
mircea_popescu: because you don't want to live in a place you can't make a bitcoin gambling site anyway
mircea_popescu: costa rica, vietnam, gabon, the list is longer than my cock.
mircea_popescu: benkay just find a place that's reasonable to live in, has hot chicks and isn't an ally of the nazis.