Is the whole field of behavioural economics a lie? In the past few years, at least three prominent academics in short succession were shown to have practiced systematic fraud throughout their careers

Further feel-good reading from 'The Great Taking': "Perhaps you have heard of the “Everything Bubble.” What is it? I will explain the horror of it simply. Let’s take the example of a single bond with no fixed maturity date, i.e., a perpetuity. This bond pays a fixed annual dividend of $5. If the market rate of interest is 5%, this bond has a value of $100. If the Fed lowers interest rates such that the market rate of interest for this bond is now 1%, what happens to the value of the perpetuity? The fixed dividend of $5 remains unchanged. As 5 is 1% of 500, the value of the perpetuity goes up five-fold to $500. Now if the Fed increases market rates back to 5%, the value of the perpetuity paying a fixed dividend of $5 returns to $100, and hence, there is an 80% decline in value. It’s basic math. The entire global financial complex is, essentially, a big perpetuity, i.e. a financial instrument with no fixed maturity date. The prices of all fixed income instruments are determined by interest rates, and all equity market and commercial real estate values are similarly driven. The Fed created the “Everything Bubble” with the justification of fighting the Global Financial Crisis, which of course the Fed had also created, by lowering the Fed Funds Rate from 5% to near zero, and then keeping it near zero for most of the past 15 years. The Fed has now increased the Fed Funds Rate from near zero in April of 2022 to more than 5.00% in just one year. That the decline in global financial and real estate markets will be massive, has been made certain. This cake is baked. The financial gains of the past 15 years have been an illusion."

CBDC tracker... https://www.atlanticcouncil.org/cbdctracker/

My NIP: NIP-USE-MEANINGFUL-NAMES-INSTEAD-OF-NUMBERS

Wow, 'The Great Taking' does not mince words: "Inevitably following the “Everything Bubble” will be the “Everything Crash.” Once prices of essentially everything crash and all financial firms rapidly become insolvent, these collateral management systems will automatically sweep all collateral to the Central Clearing Counter- parties (CCPs) and Central Banks. The trap, into which all nations have been herded, is ready and waiting to be sprung. There will be an epic end point to the decades of seemingly out-of- control financialization, which served no beneficial purpose for human- ity, but the devastating effects of which are apparent even now. It has been a deliberate strategy executed over decades. This was the purpose of inflating the global bubble entirely out of proportion with any real world thing or activity, which must end in disaster for so many, with no pockets of resilience allowed to remain in any country."

This is taken from the book 'The Great Taking'. The author states that any security worldwide is no longer truly owned. To illustrate the absurdity of this, he uses the analogy of a car (to be clear he is not saying that this applies to cars but to securities): "Let’s say that you have purchased an automobile for cash. Having no debt against the vehicle, you believe that you now own it outright. Despite that, the auto dealer has been allowed by a newly invented legal concept to treat your car as his asset, and to use it as collateral to borrow money for his own purposes. Now the auto dealer has become bankrupt, and your vehicle along with all of the others sold by the dealer are seized by certain secured creditors of the dealership, with no judicial review being necessary, as legal certainty was previously established that they have absolute power to take your car in the event of the bankruptcy of the dealer." Is this true in your country? #asknostr

I'm starting to read this based on a #nostr recommendation, then I look up and it's #zapathon time

The Great Taking

The Great Taking

What an ideal #Nostr client would enable me to do: I want to be the CEO of my attention span. I want to decide how much attention to give to each npub or feed or whatever other concept we'll come up with. What the UI to my attention span would look like, I don't know exactly, but I have a few ideas. For instance, I would like to be able to specify: - I have mental bandwidth for about 45 minutes of #nostr today - for this list of people, show me everything they post - for this other list of people, show me the highlights, giving each roughly equal screen real estate - mix in 5% of posts from people I don't follow directly (say, the people followed by the people I follow) #nostrdev @jb55 @Kieran @miljan