peisistratos
Joined 8 years ago
Joined 8 years ago
If paper currency got bootstrapping 1300 years ago, then why were American and European currencies gold backed half a century ago? Apparently the bootstrapped currency needed to be bootstraped again.
Gold is an ordinary commodity with practical uses (electronics, tooth fillings etc.) Its special qualities that make it a good currency candidate are its durability, portability, uniformity and divisibility. Gold is valuable due to its practical value, but is often exchanged due to its commodity qualities.
> an institution and its ability to maintain its value through whatever means it has available
The means a half century ago was to trade the paper for gold. Now that is implicit. The US stores tons of gold in Fort Knox and elsewhere - why? Obviously it implicitly backs the currency, even if the M1 supply is very large.
Or -
A few years or decades from now, our post Bretton Woods, post Gold Shock currency system will become untenable and be replaced by something else, as has happened numerous times throughout history, especially when the currency has no inherent value.
One example would be Tulsi Gabbard. We do not hear what she says. We hear from a New York Times columnist who went to exclusive prep schools and then to an Ivy League college (where she tried to "cancel" Arab professors by testifying against them that they were antisemitic) before landing her plum role, that Gabbard is an "Assad toadie". After years of throwing mud from her aerie, she herself finally feels some criticism come in, and quits her job in a huff, with ramblings about the end of freedom.
Hillary Clinton not so indirectly implied Gabbard was some sort of stalking horse of Putin's as well. Saturday Night Live joins in. This is all not considering canceling though. It's not, in a sense, the notion that the US should not have military bases all over the world was never out there on the corporate controlled media channels . There's nothing to cancel - that show was never allowed on to start with.
Pushback against this mudslinging is considered canceling though. This is the threat to freedom we hear Sturm and Drang about.
The channels of media out there all blast forth establishment views, benefiting a minority of privileged people. They are born upper and upper middle class, white, and are American if not by birth then by coming to the US. Other voices are excluded. All that is left and that can finally be faintly heard is some criticism of these establishment narratives. That this pushback is causing demonstrations around the country and criticism of the establishment narrative is very distressing for these people.
(A tangential example - in the days after 9/11, the New York Times published excerpts of an Osama bin Laden statement. As the whole world seemed to be pivoting on this dialectic, I tried to find the full statement somewhere. I was unable to. I could not even find it on the net. Perhaps it has surfaced in the past 20 years. It reminds me of the old Irish republican cartoon of an Irishman with a British gag over his mouth representing BBC voice bans etc. When the gag is removed a dove of peace comes out. NATO bombing Serbian press is not considered censorship. Satellite installers jailed for installing al-Manar is not censorship. Privileged people who tried to cancel Arab professors getting criticism is considered censorship.)
In the current dialectic, we have to-the-manor born, white, more or less American establishment types suddenly having to contend with voices who are not necessarily white or American, who went to public schools and grew up middle class or working class or poor, who are finally having their voices heard and who are challenging the establishment hegemony. I know which side I am on.
The "I was only following orders" defense did not fly at the Nuremberg trials.
While the Nuremberg trials had a lot of evidence, they never had such direct documentary evidence of a call for genocide like that.
(or is that overblown? Perhaps only for the Cambodians fighting against the CIA backed coup of Lon Nol should shirts be torn in accusations of genocide).
I used to buy Hagstrom map books filled with detailed current maps - they were sold in gas stations and bookstores and they even had some of their own stores. Their stores all shut down and their business shrank enormously as map navigation became automated.
There used to be a lot of tour and travel agencies around. They still exist, but are much less prevalent and are scaled down.
In fact, automation of commodity distribution has had a major effect on retail, and consequently commercial real estate.
Insofar as office work - people who work in law tell me the large number of secretaries who shuffled through cabinets full of folders containing records have largely disappeared as record retrieval has been automated. I had data entry jobs many years ago, itself a type of automation - but the jobs I did have disappeared as data distribution has become automated.
I don't know what they are measuring but I have seen the effects of a automation all around. Maybe with the closing of bookstores and record stores and video game stores, they mean the role of a retail clerk has not been much automated, which may be true. But I have seen automation have a large effect on many industries, and then rippling effects onto industries like real estate.
With Trump tweeting "LIBERATE MICHIGAN" in support of the armed anti-lockdown group who shut down the Michigan statehouse and its lockdown efforts, I think the so-called "authoritarian regimes" have more to "exploit" regarding "the U.S. government's sincerity in combatting this global pandemic" than just "widespread public fear and confusion".
The average inflation adjusted hourly wage is below what it was in the early 1970s in the US. All the wealth has gone to the heirs and a handful of people mostly born into the white upper middle class. Channels of communication are shut down. The monopolies I mentioned shut down Usenet and communication became centralized by them and companies like Facebook.
Everyone I have heard whining about the end of the Enlightenment recently is part of this to the manor born type, as well as their bought off stalking horses in relevant communities.
What is happening is a very natural result of what has been happening for decades. As anti-trust laws are not enforced, as the Fairness Doctrine goes away and our media channels consistently advocate oppression of nationalities alongside a newly militarized police, we don't hear of the monopolization of communication or proletarianization and impoverishment of the population or militarization of the police, the end of the Fairness doctrine - we hear the newly centralized lines of communication can't spew out their propaganda without complaint.