上级分类: 经济金融经济增长宏观经济学

The Scandal of Money

There is no objective measure for value, like physical units: meter, second, ampere, etc. How to create an objective measure of money?

YAML 问题

George Gilder points out -- "Basic challenge of the world economy today, is to address the scandal of money. We today have 5.1 trillion dollars of every 24 hours of currency trading, and this currency trading accomplishes nothing, except to endow central banks with the right to steal from the future in order to consume in the present, and steal from future generations, and I believe, the real reason for the trade war is not trade or industrial machinations, - it’s the collapse of money. So, 5.1 trillion dollars a day of currency trading – it’s 25 times all global GDP, it’s 70 times all trade in goods and services, and it doesn’t even prevent constant hedging of every transaction across the border, it doesn’t prevent trade conflicts, it doesn’t really accomplish its goal. So, I think that the great contribution of blockchain, is to allow a new global currency, that plays the role that gold played for a hundreds of years of the fastest growth of the world’s economy… and it’s what really what blockchain [can do]: not only a new Internet architecture, but also a new global architecture for the world economy.

"You don't think it's virtual wealth only? Just like the stockbrokers?"

"It's not wealth itself. It's the measuring stick of wealth, that guides entrepreneurial visions and creativity -- you gotta have a measuring stick: just as you need to measure the 'second', the 'kilogram', the 'ampere', the ‘mol’ – all the various measuring sticks that make it possible to make a chip in Taiwan and incorporate it in a smartphone in Shenzhen, and send it to Cupertino for marketing into Israel for amplification – all of that is made possible by common measuring sticks: the nanometer is the same in Shenzhen as it is in Timbuktu, but money, which is a critical measuring stick, is different all around the world, – is being manipulated by national central banks -- so we have a chaos of money… and that’s why the world economy is slowing down now, why trade is no longer growing, why countries are constantly fragmenting and fighting over valuations."

Simply put, each currency, even each blockchain is like a rope, but we don't have a "meter" to measure their value objectively. The value currently is set through supply-demand equilibria - currency wars, trade wars, valuation wars, that are inherently subjective.






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一个国家的价值与一个国家对资本的安全程度有关。

错了大多数人没有资本。

Value of a country is connected to how safe a country is for capital.

That's wrong. Most people don't have capital.


我认为大量的金融工程都是欺诈行为。只看避税。

但是,令人讨厌的是货币本身。法定货币本质上是欺诈性的。

我认为一个金融集团可以在国际上稀释一个国家的价值是错误的。

比特币不是解决方案。比特币领主是另一种性质的领地,投机jack狼。

I think a large amount of financial engineering is fraudulent. Just look at tax avoidance.

But what's rotten in demark is the currency itself. Fiat currency is fraudulent by its nature.

I think it's wrong that a country's worth can be diluted internationally by a financial cabal.

Bitcoin is no solution. The bitcoin lords are fiefdoms of another nature, speculative jackals.



    : Mindey
    :  -- 
    :  -- 
    

chronological,

嗯,我认为世界不是由文字而是互动来定义的。因此,事件是与人们就主题进行互动的空间。交互作用塑造了所使用的词语,并塑造了我们的世界观以及整个世界。

Hmm, I view the world not defined by words but by interactions. So, events are spaces to interact with people about topics. And interactions shape words used and shape our world views, and such the world.


//“从稀缺到充足”(从事件描述开始)//

不,我对“从连接到繁荣”感兴趣。 “足够”永远是不够的。

// "From Scarcity to Sufficiency" (from event description) //

Nay, I'm interested in "from Connection to Prosperity" instead. "Sufficiency" not enough, ever.


[Mindey]您可能喜欢星期五的此在线活动,与货币设计师Ferananda Ibarra聊天。

[Mindey] you may like this online event on Friday, a chat with a currency designer Ferananda Ibarra.


加密货币也只是绳索,它们是金钱丑闻的一部分。我认为,只有共同定义人生的真实目标,并为该目标制定合理的距离度量,然后对其进行衡量,才可以解决“金钱丑闻”。

市场试图估计交易者的价值而不是人寿的价值,并且市场过于愚蠢,无法得出客观的价值衡量标准。

Cryptocurrencies are also just ropes, they are part of the scandal of money. In my opinion, only by together defining the true goal of Life, and creating rational distance metric to that goal, then measuring it, is how we can resolve the "scandal of money."

Markets try to approximate what traders value, not what Life values, and markets are too dumb to come up with objective measure of value.



    : 尹与及
    :  -- 
    :  -- 
    

Mindey,
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