“the Swiss National Bank. As I said above, don’t forget there are still central banks deeply entrenched in QE and, beyond local government bonds, are buying foreign assets (in large amounts). Switzerland’s central bank has more freshly printed money to put to work every quarter, and has been increasing their allocation to equities dramatically–$80 billion of which is now (as of the end of the first quarter) in U.S. stocks! That’s a 29% bigger stake than they had at the end of 2016. The SNB is the world’s eighth biggest public investor.” (https://www.forbes.com/sites/bryanrich/2017/05/16/this-central-bank-owns-80-billion-worth-of-u-s-stocks/)
Technology & Culture:
Sorry to shatter some expectations, BitCoin will not make mankind “better” just as the iPhone not “automatically” made mankind “better”.
Technology can always be used for good or evil – the question is – will mankind be able to come up with a method of coming to intelligent informed decision as “a crowd of 10 billion”. (democracy tried to be such a method but now fails massively btw nowadays democracy has almost nothing to do with ancient Greek style democracy where only:
“citizens” (men with swords) were allowed to vote
it was voted on very direct concrete things like “should we go to war with Troja or not?” (black stone in the basket = no, white stone in the basket = yes, not almost obscure complex laws that nobody not even the politicians that vote on it understand)
Socrates said: only those that think deeply and rationally about things should be let near a vote
The BlockChain can be used for evil: NSA will create a “permanent” = unalterable record of every “fart” anyone ever did (total 1984 mass surveillance dictatorship) – “building perfect records of people’s lifes”
everything depends on a balance
The BlockChain can be used for good: help mankind survive by adding biodiversity to financial monetary systems by providing an alternative to debt created FIAT.
The amount of Bitcoins are limited by math – but what does math stop from diving bitcoins into smaller and smaller bits? (Just the amount of 0.00000000001 post-dot-digits one’s computer can process (it is actually not so easy for some programming languages X-D to process very large or very small numbers))
Same as an iPhone / Android phone SHOULD have a flashlight that might help people not fall in holes at night, when the “main flashlight” (the MAIN FIAT CURRENCY) fails.
So YES bitcoin can help mankind survive – which we hope all agree on – is a good thing.
but things need to be taken further: as technology improve – culture should improve too
the character of mankind re-cultivating from greed lying cheating egoism to altruism less aggressive more cooperative more sustainable more sharing more fair way of survival IS HARD BUT POSSIBLE 🙂
Why sectarianism and are conspiracy theories on the rise?
first there was religion – then there was the money-religion – but what shall people still believe in, if they have no jobs and the believe into the fiat money economy stops?
unemployment = some people do not know what to do with their new found “free time” and so they search the internet for things that are exciting but fake
massive decade long destruction of trust between government and citizens over just look at the numbers, less than 14% of US citizens trust the gov in it’s decision making (not only in the US it is a global trend)
the us foreign policy in one picture:
teaching by virus – what is mother nature up to? – what is a virus? why do virus exist?
Elon Musk: “this corona virus epidemic is dumb”
Yes for the economy it is dumb – for all people that lost their jobs – it is dumb – for all countries that rely on tourism (italy, greece, new york) it is catastrophic – but mother nature must have had it’s reasons – maybe just to teach mankind a lesson: don’t be so arrogant
but then: mankind does not even properly understand itself.
(sometimes it is not so clear if the bacteria in our guts are “in charge” or we)
(some say: consciousness is just an illusion of sub consciousness to make you feel you are in charge… results from hypnosis actually proof that (people that can not willingly lower their arm once woken up from hypnosis)
neither arrogance nor ignorance are “bliss”
even worst kind of ignorance is arrogance (which is basically megalomania, the believe to be god) – arrogance and megalomania can lead to great catastrophes killing millions
science is just a tool – tools without a moral compass are dangerous
mother nature could kill everything on this planet (including wallstreet but also mainstreet) – with the blink of an eye
right now – it does not even take a big asteroid – it just takes a tiny tiny virus but the effects are similar
this economic (financial) system has so little resilience – it folds like a house of cards at the first real blow with politicians ruddering like crazy to get the ship back on course and away from the iceberg
exposing even further that wallstreet and mainstreet are separate worlds – that have nothing to do with each other – if they ever had
one of them is making tons of fictional money that can buy real things – the other is real but also not so funny (making no money but doing all the real work – actually giving the fiat currency it’s value)
so actually there need to be different currencies for both worlds – but they are using the same currency – issued in different forms by different banks (in cash = central bank, only digital = private bank)
just as Darth Vader “can kill catering with a thought” (it’s a bit dark but actually exposes the fact – that Darth Vader should be less arrogant and play by the rules like anyone to get some food in the Death Star cantina)
the virus – for what purpose?
Agent Smith from the Matrix – thinks humans are a virus
would not go that far – if humans are truly intelligent – they will strive for equilibrium – if they are stupid – they will just further destabilize their habitat and probably die out
so it is up to every single on of us – to develop sufficient consciousness and come to the same conclusion – that reckless profiteering – will kill mankind and nobody can want that – there needs to be a consensus in the “collective” about this
a computer virus for wallstreet is probably worse than a biological virus X-D
(because a biological virus does infect main street but not the computers of wall street and virtual entities)
a biology teacher said, it is not clear, if a virus can be called a form of life, because it is just a piece of DNA (or RNA?) – floating randomly until it hits another cell which “the viruses” reprograms to copy itself/reproduce itself – this sounds very evil and exploitational
and yes it is
long before humans started messing around with genes – mother nature invented “the virus” – for what purpose? good or evil?
most life forms depend on other life forms to survive (humans breath oxygen produced by trees and other plants etc) so Dr Ryan says viruses are life forms
viruses do not have motivations morals or intentions
viruses can be commensalistic (good) mutualistic (good) but also amensalistic (bad) or parasitic (bad)
genetic symbiosis: the exchange of genes by bacteria and viruses
or: increase speed of evolution – those who survive – fill the gap – and pass on immunity to their children
Australia had a rabbit plague, “The myxoma virus, which causes myxomatosis, was introduced into the (Australian) rabbit population in the 1950s and had the effect of severely (99.8% of all rabbits) reducing the rabbit population. However, the survivors (0.2%) have since adapted and partially recovered their previous numbers.” (Wiki)
This is in contrast with mutualism, in which both organisms benefit from each other, amensalism, where one is harmed while the other is unaffected, and parasitism, where one benefits while the other is harmed.” (Wiki)
so what does mean?
Dr Ryan: “genetic symbiosis very very powerful ok?” (source)
what does a bank produce? – loans -if a bank does not produce loans – it is essentially defect and may as well be closed
is unconditional basic income aka “free money” for the masses good or bad?
what would be much more important than monetary gifts (see unemployed people in eastern Germany even when given “free money” are unsatisfied because they have no work/no meaning/purpose in life.
What would be important to put in requirements and regulations that say banks must lend 90% of their newly digitally self-generated money and FED/ECB cash 0% (which is essential also “free money” (interest rate = the costs of money/currently: no costs)) to entrepreneurs and self-employed people and people with ideas that want to become entrepreneurs
currently it works like this:
a private bank borrows 1bn Cash from FED or ECB
for 0% or almost 0% and instead of phoning up and investing in ads “have an idea? here is your loan” providing the economy and innovative people with cheap money to turn ideas into reality and create jobs – it is – at least in the EU area largely put back into an ECB accounts even when that means paying “parking fees”.
“they (the banks) said,” We don’t give you credit, because we don’t know how long you can’t produce, how long the corona crisis will last.“
money that is not put to work / does not create jobs is a defective monetary system and needs to be fixed or risk major unrest.
a unconditional basic income (UBI) makes sense at this point in time / in this situation that banks fail at bringing “money to the (real) economy” / banks do not want to bring money into working hands thus the state and the customer must do it.
It would be the best economic program ever.
everyone would get 1000USD or 1000€ a month for a limited time – let’s say one year – then check how the economy performed.
and repeat or stop – but at least try.
then, of course, there is the question of sustainability
of course, it would be great to link a UBI directly with requirements for more sustainability such as:
electricity providers must be changed if not 100% of energy comes from renewable sources
there are two reasons why UBI might be prevented:
the banks are convinced, that printing money for themselves is “fine” while printing money for “jill and joe” would lead to Inflation (does not make sense to me)
why is the tax system so complicated? because it creates senseless jobs / so it is simply a job creation measures / a lot of administrative jobs could go away if UBI replaces all the complicated social programs and maybe even pension