Notices by cjd (cjd@pkteerium.xyz), page 9
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It doesn't work like this.
Everyone thinks about this Mad Max, return to the stone age total collapse, but in all of the wars that happened around the world, this scenario has never happened.
What actually happens is things become the same, but shittier.
Things like fuel, electricity and internet don't become unavailable, they become expensive and limited to certain places and times. But when and where there is electricity, everyone goes to charge their phones, and when and where there is cell service, everyone goes to send messages to their family and get news updates.
People never rush adopt precious metals as a medium of exchange (they also don't rush to adopt crypto). They use local paper currency or if the local currency is completely debased, they may use dollars or euros. People stick with whatever has the lowest friction of adoption, when everything is upside-down is NOT a time that anyone is thinking about new ideas for money.
For large purchases like a car, or (say) paying to be smuggled out of the country, sellers tend to accept bitcoin because they know nobody has that much cash on hand. But it's already like that: If you're buying a yacht or a supercar, dealers typically accept bitcoin because you're not the first person who asked to pay in it.
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What it represents is a transferrable store of value that politicians can't print any more of. Nothing more, nothing less.
It's not like a company because it earns nothing, but it's also not like a company because powerful people can't just sue it to death, regulate it out of existence, or send a mob enforcer to burn it to the ground.
In a good world, you always want your money to be invested in things that produce maximum value, and you would invest like Warren Buffett.
We don't live in a good world, we live in a world where politicians print money and manipulate markets. If you invest like Warren Buffett you will perform worse than the market, because The Market has been turned into a Tech Buzzword Casino.
The foundational thesis of crypto is "I reject your definition of value, I value this instead". And again, in a good world, this would be kind of a niche thing and wouldn't have much price appreciation.
But we don't live in a good world, so this idea of opting out of has gotten a lot of traction, and we've ended up with a "stampede" of value moving into these assets which has driven a "crazy" price rise.
Of course there is a downstream cohort which doesn't have any idea of why they might want to buy crypto, they're just chasing green candles, but this is true of everything.
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Compared to gold, it's hilariously good. Every time you transfer gold, you have to take risk to get it to its destination and then the recipient has to either trust you, or melt it down to check you didn't put tungsten in it.
Transfer of other things is pretty much always mediated by a custodian, which means there's someone out there holding and protecting the underlying asset - and then you have to pay for that protection.
Either you're paying a vaulting fee, property tax, or such up front, or you're holding an asset like dollars where the protection fee is pulled out of the value of the asset by printing.
Arguably bitcoin is in the second category because "happened before" relationship of transactions is protected by mining, but that fee is lower and more predictable than it is with dollars, which get printed for any old reason, subject to the whim of politicians.
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This weekend while on holiday and waiting for a boat tour of port of Le Havre, had a chance to visit a church.
I'm a pretty non-religious person, I don't think I'd been in church in the past 20 years.
Took the opportunity to pray for France.
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There's actually a really good reason why not, it's this thing called a "social contract".
Basically it says that the poor will not vote to take away ALL the money from the rich, and the rich will not overthrow the government and install a dictator who puts the poor in work camps.
Lets suppose a country raised taxes as much as this lady proposed:
1. The rich all leave the country, why should they stay? They can live anywhere, they're rich. The super rich go to private islands, the middling rich go to Dubai, etc.
2. Now you have a country of only lower-middle-class and poor (nice job), well, it turns out these people don't have much money, so they're not going to buy things and they're not going to pay much tax. So now you have an economic downturn combined with a reduction in tax revenues.
3. Which means the government income is going to decrease - and when the government income decreases, government has to either fire people or raise taxes....
4. And guess what they do, they raise taxes. And who do they raise taxes on? Not the poor, they're the ones who have gotten power over the government to make it tax the rich. Not the rich, they've left. Who do they tax? BUSINESSES, the last remaining vestiges of the rich who have already fled.
5. So with a bankrupt government running around trying to find someone to shake down so they can keep the lights on at the public administration, businesses which have been carefully tuned to operate at the knife-edge of profitability suddenly become wildly unprofitable and they close their factories and sell off the assets so the investors don't lose EVERYTHING.
6. Now suddenly everybody's out of work and there's no money do do anything. At this point usually the administration has some Bright Ideas like "print money" or "law against price increases" and day by day everything keeps getting more insane, more terrible.
> You thought you would eat the rich, you ended up eating the family pet.
7. There is no social contract and there is no stability. Government corruption runs rampant, anything that can be stolen is. The value of property in the country collapses to nearly nothing, as nobody believes they'll be able to keep the stuff that they own.
8. Then at some point, the private island guys decide that the smart thing to do would be go in and "fix" the country so that it starts making money for them again. How do they do that? Well they might use their influence to get the CIA involved, or they might use mafia, or a popular candidate.
9. Abi Wilkinson gets her first (and last) ride in a helicopter.
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Or worse, they'll become pHiLaNtHrOpiStS
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And live where?
Buy a house -> lol
Rent -> haha
The only way out is to move to a country where property prices are low.
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Oh, if you're just talking about not paying taxes, sure. Actually many ways to do that, some completely legal.
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Ok, so actually cold fusion is real and science is a scam?
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Pfff
> Am I racist
Yes.
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The only difference of LVT is that you're not taxed for buildings. The point is if the land is valuable and you're not using it, you have to sell it to someone who will. Farming should be done on land that is best suited to farming.
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Money creation is an immaculate scam that puts nearly everyone into slavery. They can print enough money to make real goods unobtainable for anyone who is unwilling to sign a slave contract to buy them, then the slavery allows them to maintain value of the money they printed.
Anyone holding the appreciating asset is strongly dissuaded from selling it by vicious capital gains tax treatment - contrived by these same thieves.
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> the "unused land" specter is imagination
Correct, because there is, effectively, LVT everywhere. That is because the bank can print infinite money to bid up the price of houses until the monthly payment reaches whatever people are willing to pay.
The problem is that it doesn't go to the city, it goes to the bank instead.
If the city would charge LVT, it would take a cut out of "market rate" of monthly payment that people are willing to pay for that land and redirect it to the city. The other side would balance via real estate price decreasing, therefore the loan, and therefore the monthly payment that goes to the bank.
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New law: Any activity which is deemed "obviously unconstitutional" by SCOTUS is a death sentence for the public official who ordered it.
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If you confront a child molester, and they realize what they are and decide that the best way to make the world a better place is to leave it - do they die a hero?
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Trump is very likely to win with a larger popular mandate than Hitler.
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HILLARY! 📞
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Imagine Kamala Harris and Michelle Obama digging a hole, it's like one of those "lets kill the old man for the insurance" comedy movies.
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National Ice Cream Day, in The Year Of The Popcorn.
cjd
Give the funny.
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