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nock (Member Profile)
Congratulations! Your video, Atomic Trampoline Toy - Grand Illusions, has reached the #1 spot in the current Top 15 New Videos listing. This is a very difficult thing to accomplish but you managed to pull it off. For your contribution you have been awarded 2 Power Points.
This achievement has earned you your "Golden One" Level 42 Badge!
nock (Member Profile)
Your video, Atomic Trampoline Toy - Grand Illusions, has made it into the Top 15 New Videos listing. Congratulations on your achievement. For your contribution you have been awarded 1 Power Point.
This achievement has earned you your "Pop Star" Level 58 Badge!
Caspian Report - Geopolitical Prognosis for 2016 (Part 1)
As always, my views are just a layman's perspective with no claims to expertise.
@RedSky
You correctly point out the intent of the reform, to stop fractional banking which they diagnosed as a primary driver of volatility within the financial sector. They want to revert back to a system where the banks were intermediaries the way you described it: deposit leads to loan, in this case at a maximum ratio of 1:1, no leveraging.
Unlike the current system where bank deposits are mostly created by banks themselves -- the act of lending creates deposits. In fact, deposits are liabilities of the banks, not assets. Reserves are assets, but they are only traded between entities with accounts at the central bank. And, in normal times, are provided quite freely by the central bank in exchange for other assets.
Anyway, "Vollgeld" places the ability to create money exclusively in the hands of the central bank. Controlling the amount of money in circulation was a concept most central banks were eager to drop during the '90s, since it never worked. Demand for credit is volatile, central control is inflexible, even if they could somehow quanfity the need for it ex ante -- which they can't. Hell, they can't even do it ex post. You can't quantify the need for additional money beyond what's already in circulation if the central bank's action set the conditions for a dynamic development in the first place. You can't know in advance what increases in production need to be financed, you can't know how demand for liquidity evolves over time. The quantity theory of money was buried for a reason, it ignores reality.
Anyway, I applaud the proponents of Vollgeld for pointing out the dysfunctionalities of our fractional reserve system as well as how questionable it is, ethically, to hand over so much power to a small cabal of financial elites. In fact, I'm quite ecstatic to hear them point out that a nation with a sovereign, free-floating currency does not need to finance deficits through banks -- how very MMT of them. Go OMF!
But their proposed solutions are a fallback to "the market will stabilise itself if left alone, a completely independant central bank will keep the quantity of money in circulation at just the right amount". This hands-off approach resulted in absolute devastation whenever it was applied. They want to turn the state into a regular economic subject that has to adapt to the amount of money currently in circulation. It's (the illusion of) control by technocrats, where you get to disguise policies against the masses as "economic neccessities". Basically the German Eurozone on steroids.
As for the absolute independence of the central bank: you are right, that is not strictly part of the Swiss Vollgeld initiative. But it's what almost every proponent of Vollgeld within the German-speaking circles argues for, including major drivers behind the initiative. Can't let politicians have control over our central bank or else they'll abuse it for populist policies.
They are true believers in technocrat solutions, completely seperate from democratic control.
PS: I cut down my ranting to a minimum of MMT arguments, given that many people see it as just a different sort of voodoo economics.
Edit: Elizabeth Warren's 21st Century Glass Steagal Act strikes me as a rather promising way to solve a great number of problems with the financial industry without going back into the realm of monetarism.
"The Best Illusion You Have Ever Seen"
Its not even an illusion.
ant (Member Profile)
Your video, The Best Illusion You Have Ever Seen, has made it into the Top 15 New Videos listing. Congratulations on your achievement. For your contribution you have been awarded 1 Power Point.
"The Best Illusion You Have Ever Seen"
The greatest illusion the Devil ever pulled was convincing the world he didn't exist.
Amazing Anamorphic Illusions II/2
Forgot *related=http://videosift.com/wtf/video/Super-Clever-Sunglass-Illusion .
And a *promote.
Super Clever Sunglass Illusion
Amazing Anamorphic Illusions II/2 has been added as a related post - related requested by Zawash on that post.
Amazing Anamorphic Illusions II/2
Promoting this video and sending it back into the queue for one more try; last queued Sunday, January 3rd, 2016 6:20pm PST - promote requested by Zawash.
Super Clever Sunglass Illusion has been added as a related post - related requested by Zawash.
Amazing Anamorphic Illusions II/2
*related=http://videosift.com/video/Amazing-Anamorphic-Illusions
Amazing Anamorphic Illusions
Amazing Anamorphic Illusions II/2 has been added as a related post - related requested by Zawash on that post.
Amazing Anamorphic Illusions II/2
Amazing Anamorphic Illusions has been added as a related post - related requested by Zawash.
Knife Sharpening With Mino Tsuchida
I like that he makes the distinction between cultural differences and the illusion of "better". That's quite nice of him.
China's gamified new system for keeping citizens in line
Capitalist totalitarianism is a term I'll have to remember, nice.
Being China, the exploitative companies and the repressive regimes are the same people, are they not? Even Hong Kong is no longer free of total government control, is it? I was under the impression that everything is 'owned' by the state in China, although some entities are given more autonomy than others to give an illusion of capitalism.
Oh I'm fully cognisant of the nature of the system, but it's telling that it originates from an entertainment company and a retailer rather than the Chinese gov...
It's capitalist totalitarianism. Using your customers as your advertising/enforcement, and as you said, playing on peoples selfishness. A viral promotion of obedience and conformity (because viral marketing started in China right? \= )
One of the most repressive regimes on the planet got schooled on invasive social engineering for better control by a couple of exploitative companies. Speaks volumes.
Liquefied Engagement Ring
The show is fake, nobody is being tricked, the people are cast. The "illusions" are assembled from multiple takes by an editor. They don't even hide the cameras.