davejohnclark

Yeah I think that's a fair shout, the main element being that private banks create the money via loans. Thanks for engaging, I appreciate the discussion. One day I might grok how modern economies hang together, but I've a way to go yet.

Interestingly that paper from the Bank of England makes no mention of "fractional reserve" anywhere, but they do say:

>Another common misconception is that the central bank determines the quantity of loans and deposits in the economy by controlling the quantity of central bank money — the so-called ‘money multiplier’ approach

>While the money multiplier theory can be a useful way of introducing money and banking in economic textbooks, it is not an accurate description of how money is created in reality. Rather than controlling the quantity of reserves, central banks today typically implement monetary policy by setting the price of reserves — that is, interest rates.

>In reality, neither are reserves a binding constraint on lending, nor does the central bank fix the amount of reserves that are available

Anyway, I think I'm digressing from the topic a bit here - but I _think_ what I've learned recently is that in the UK it isn't actually fractional reserve banking, which I was surprised by.

I have exactly this as well. My optician explained it as my brain would use the information from the lazier eye only if there wasn't any information from the good eye. Just tried the eyes crossed trick on the easy image in the article and the 3rd image in the middle is the right one. If I let them drift apart so there are 4 images I can see the left one and the difference (because I'd already found it), but as soon as I force them to overlap the left signal disappears and I'm only seeing the right image. I've also never managed to do a magic eye or anything, and 3d movies just give me a headache.

I absolutely love Chef John. Great recipes and the cadence of his speech on YouTube (foodwishes) is very soothing, while he cooks up something amazing. If you're a home cook I highly recommend his recipes and his channel.

You've articulated how I'd describe my experience as well. I'd not ever describe something in my mind's eye as 'floating like holograms'.

"Vague visual imagery appear in my head" resonates with me.

Edit: typo

Interesting, maybe it depends on when you were looking? Also central York and we popped outside just after half eleven and the aurora was very visible to the naked eye, not in full multicolour but very clearly not a cloud, quite thick and radiating out from a centre in the sky almost all the way down to the horizon. We have a reasonably dark place we can look from near us (and where we got some photos on a smartphone camera that show a sky full of vivid purples and greens) but I could see it clearly enough from right outside our house even with the bright led streetlights all around.

After 20 minutes it faded from view almost entirely and we went inside. I have no idea if it came back or what it was like beforehand, maybe we got very lucky or maybe it came and went through the night?

I generally think of this as the same principle of "prefer composition over inheritence". Leave the top-level free to compose the behaviour it requires rather than inheriting the framework's behaviour, for exactly the reasons you describe.