critique of loon theories around banking/money creation/the federal reserve

[Pickman's model]

you've gotta give phil credit really this thread is performance art

it's a pity his performance is so shit.

 

[phildwyer]

This is a contradiction that runs thorugh many of the loon like jazzz and the softer types too - it's all the bankers fault followed by here is a banker saying so.

No contradiction at all. The problem is money, the nature of money itself, and especially the form it has taken over the last decade. Even those human beings who profit from serving the ends of money understand the problem, they understand it very well.

 

[Pickman's model]

No contradiction at all. The problem is money, the nature of money itself, and especially the form it has taken over the last decade. Even those human beings who profit from serving the ends of money understand the problem, they understand it very well.

if they understand it so well NOW why didn't they understand it so well before fucking it all up?

 

[TruXta]

No contradiction at all. The problem is money, the nature of money itself, and especially the form it has taken over the last decade. Even those human beings who profit from serving the ends of money understand the problem, they understand it very well.

Witches-symbols-usury-witches. Yeah we got it now pancake.

 

[Pickman's model]

It seems you can't take a hint.

I'm suggesting that there are in fact many such books--that is to say, books by bankers themselves--as well as many other books by critics of banks, that basically endorse, repeat and demonstrate exactly what Jazzz and I have been saying here.

In fact the last couple of years has witnessed a veritable tidal wave of such books. An avalanche of texts that anticipate, and in my case at least, strongly influence our diagnoses of the situation.

You should read them. Instead of poring over 1930s ghouls like Father Coughlin and madly, obsessively trying to sniff out anti-semitism where it so fucking obviously doesn't exist. Jesus Christ Almighty.

next week: dwyer recommends people read der sturmer to get to the nub of judaism.

 

[Random]

Witches-symbols-usury-witches. Yeah we got it now pancake.

Didn't we already sort out the usury red herring in another thread? Can we just link to it now, to avoid derailing us from the thread's topci, of loon theories around banking?

 

[phildwyer]

Witches-symbols-usury-witches.

Stop chattering like an ape and eat your banana.

 

[Pickman's model]

Stop chattering like an ape and eat your banana.

it's strange how truxta's 'ape-like- chatter is so much more sensible than your academic farting.

 

[phildwyer]

if they understand it so well NOW why didn't they understand it so well before fucking it all up?

Exodus 33
21: And the LORD said, Behold, there is a place by me, and thou shalt stand upon a rock:
22: And it shall come to pass, while my glory passeth by, that I will put thee in a clift of the rock, and will cover thee with my hand while I pass by:
23: And I will take away mine hand, and thou shalt see my back parts: but my face shall not be seen.

 

[Pickman's model]

Exodus 33
21: And the LORD said, Behold, there is a place by me, and thou shalt stand upon a rock:
22: And it shall come to pass, while my glory passeth by, that I will put thee in a clift of the rock, and will cover thee with my hand while I pass by:
23: And I will take away mine hand, and thou shalt see my back parts: but my face shall not be seen.

you're making an arse of yourself. again.

 

[phildwyer]

you're making an arse of yourself. again.

This is what you get for casting pearls before swine.

 

[Pickman's model]

This is what you get for casting pearls before swine.

and it's richly deserved.

 

[JimW]

No contradiction at all. The problem is money, the nature of money itself, and especially the form it has taken over the last decade...

What particular qualitative change within the last decade do you have in mind here?

 

[phildwyer]

I think the answer to my last question is either not very much or something very nasty.

I think the answer to your last question is probably "fuck off." That's both really isn't it?

 

[phildwyer]

What particular qualitative change within the last decade do you have in mind here?

Derivatives.

 

[love detective]

Money does not exist. Where is all this so-called "money" they're going on about then, if it's so important? Show it to us.

God does not exist. Where is this so-called "God" they're going on about then, if it's so important? Show it to us.

So I guess if your crude/vulgar empiricism has achieved anything on its own terms, it's your admission of God's non existence after years of attempting to argue the opposite

Yes it is, because of the time value of money, which means that money is more valuable in the future than the present

There's been so much nonsense written by you on this thread but this really stuck out as idiocy personified. Time value of money/present value is a straight forward concept that says a sum of money in X years time has a different buying power than that same sum in the present. Whether that value is higher or lower depends upon interest rates and inflation rates, i.e. it is completely silent on what you claim it says. That you link to a wikipedia article on one thing it to try and back up your claim of something else, shows a complete and utter lack of understanding of it on your part.

You try locking £100 in a room for twenty years and see how much more valuable it is when you take it out - this is the essence of your claim above, which is palpable nonsense

And while putting it in a bank for twenty years at say 2% interest would increase the nominal amount of it - unless inflation has been consistently below 2% a year (unlikely, if you were getting 2% interest rate on the deposit), it's real value/purchasing power will have fallen considerably over twenty years - so again worth a lot less in the future than now

The only time that money is worth more in the future than in the present is in periods of deflation, which are few and far between, relatively short term and represent the exception not the norm

This is the danger of looking up things you don't understand on wikipedia and hoping no one will catch you out - idiot

Capital obviously accumulates however, but not through some magic bean nonsense like you describe above. 'It' does so through exploiting and appropriating from Labour, and can do so only because a specific set of social relations exist at a particular time that allows 'it' to do so. It's not some universal or ahistorical inherent characteristic.

I feel sorry for the Oxford University educated Professor though. Getting his arse handed to him so routinely (both on here and in academic life as well) must fill him with so much self doubt and anxiety about his self worth. Hence his increasingly bizarre and desperate behaviour on here and, from what I hear, in real life as well.

 

[Pickman's model]

Derivatives.

derivatives have been traded for some centuries now. you've not really got your finger on the pulse of the financial markets, have you?

 

[JimW]

Derivatives.

Are they that new (genuine question)? I thought it was more a snowballing/acceleration of pre-existing dynamics.

 

[Pickman's model]

Are they that new (genuine question)? I thought it was more a snowballing/acceleration of pre-existing dynamics.

no they're not that new and yes he is an ignorant pig.

 

[TruXta]

Are they that new (genuine question)? I thought it was more a snowballing/acceleration of pre-existing dynamics.

Old as the fucking hills.

 

[phildwyer]

derivatives have been traded for some centuries now. you've not really got your finger on the pulse of the financial markets, have you?

Fool, idiot and complete cretin.

No-one would deny that the so-called derivatives market has undergone a qualitative change--to be specific, an enormous, unprecedented expansion to the point where it now dominates the entire so-called financial sector--over the last decade.

No-one that is, except you.

Now if you don't mind, it's very late here and I must get some rest. If I can be bothered, I may come back to explain to you what a "derivative" is, and why you should care, in the morning.

 

[JimW]

Old as the fucking hills.

hill don't really exist, you know. They may look like they protrude from the earth's surface at a distance, but when you stand on top of one and look at the horizon you can't see them any more.

 

[phildwyer]

Are they that new (genuine question)? I thought it was more a snowballing/acceleration of pre-existing dynamics.

Well that's yer quantitative change becoming qualitative change innit.

Really got to go to bed now...

 

[love detective]

hill don't really exist, you know. They may look like they protrude from the earth's surface at a distance, but when you stand on top of one and look at the horizon you can't see them any more.

And see those cows in the distance, they really are that small, and the way the sun looks like it's moving over the earth - that's really what is happening

welcome to vulgar political economy

 

[JimW]

Well that's yer quantitative change becoming qualitative change innit.

Really got to go to bed now...

But that does seem to be looking at the trees and so missing the wood - the underlying processes that they're just the latest phenomenon to emerge out of.

 

[TruXta]

hill don't really exist, you know. They may look like they protrude from the earth's surface at a distance, but when you stand on top of one and look at the horizon you can't see them any more.

 

[butchersapron]

Excellent - Hemphill - the one jazzz thinks is 'bang on' for his articles in the anti-semitic journal of the anti-semitic coughlin movement - has had his work reproduced by the Islamic Party of Britain of noted loon and anti-semite Mohamed Nasseem - that's the notoriously homophobic and anti-semitic Islamic Party of Britain that reprints stuff from open nazis and facists like Alexander Baron.

And there's a tale to be told about Jazz's links with the same Mohamed Nassem through his (Jazzz's that is) link with infamous disgraced holocaust denier Nick Kollerstrom, the same holocaust denier who made a film with Tony Farrell, the key expert witness in jazzz's laughable tv licence case.

Small world innit?

 

[TruXta]

Excellent - Hemphill - the one one jazzz thinks is 'bang on' for his articles in the anti-semitic journal of the anti-semitic coughlin movement has had his work reproduced by the Islamic Party of Britain of noted loon and anti-semite Mohamed Nasseem - that's the notoriously homophobic and anti-semitic Islamic Party of Britain that reprints stuff from open nazis and facists like Alexander Baron.

And there's a tale to be told about Jazz's links with the same Mohamed Nassem through his (Jazzz's that is) link with infamous disgraced holocaust denier Nick Kollerstrom, the same holocaust denier who made a film with Tony Farrell, the key expert witness in jazzz's laughable tv licence case.

Small world innit?

Six degrees of Adolf Hitler.

 

[Pickman's model]

Fool, idiot and complete cretin.

No-one would deny that the so-called derivatives market has undergone a qualitative change--to be specific, an enormous, unprecedented expansion to the point where it now dominates the entire so-called financial sector--over the last decade.

No-one that is, except you.

Now if you don't mind, it's very late here and I must get some rest. If I can be bothered, I may come back to explain to you what a "derivative" is, and why you should care, in the morning.

please don't bother

 

[Idris2002]

no cos shellfish aren't kosher