14
May
2012
THE INVINCIBILITY OF IGNORANCE?

Let us begin with two rhetorical questions, statements which do not really require an answer because it is implicit in the question. Is there anyone out there with access to any rudimentary form of news – mainstream or otherwise – who did not expect Mr Sarkozy to be beaten by Mr Hollande in the second round of the French elections on May 6?

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19
Feb
2012
Lemonade Stand Economics Vs. Keynesianism

“I tried to figure out what made a public company different.

Here is what I came up with — the central bankers of the world, all acolytes of Keynes, have decided that it is the P in PE that brings wealth when we all know, as business people, in a normal environment it is the E.

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19
Feb
2012
Trading By The Numbers

The first thing about modern markets, the thing that must never be forgotten, is that most of the “trading” which goes on in them is untouched by human hands – or brains. To an overwhelming extent, modern markets are “automated”. By “automated” we mean that at least eight out of ten (some estimates put the ratio higher) of all transactions are controlled exclusively by means of computers and the programs built into them.…

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19
Nov
2011
Special Privilege (part 1)
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Yesterday I received my copy of Vincent R. Locascio’s “Special Priviledge: How the Monetary Elite Benefit…At Your Expense“. It was published in 2001 by the Foundation for the Advancement of Monetary Education (FAME) and I hope they don’t mind my quoting vast tracts of it here.

This book predates Locascio’s “The Monetary Elite vs.

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15
Nov
2011
The Hazard Of Financial Morality

We have all heard of “moral hazard”.  It is something that was said to have kept Treasury Secretary Hank Paulson awake at night when he was agonizing over how to thaw out the frozen inter-bank credit system in mid-late 2008.  Moral hazard is defined as the risk that the monetary powers that be take when they create “money” out of thin air for the express purpose of bailing out banks and corporations whose failure would drag the entire economy down with them. …

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2
Nov
2011
Blaming “The 1%” is like blaming “Zionists”, “Blacks” or “Gays”

Some people like, to make all the rules and tell others what to do.
They make it their way, so they always win, and the others always lose.
Street gangs and madmen How they wage their private wars
In bankers clothes their hearts are froze and
Their wives hold hands with whores

— Airbourne: Too Much, Too Young, Too Fast

There is a lot of “empirical data” coming out in reputable information channels (like Facebook and Twitter) that the 1% are over-represented in the corridors of power, have more than their fair share of wealth and are basically to blame to for mess the world is in right now.…

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