Stefanie SchulteApr 6, 2017

My #listofinterests *):

#economics
#toobigtofail
#financialstability
#systemicrisk
#shadowbanking
#cooperatives
#linux

*) Explanation:
"Let's play a game, to help some of the newcomers make connections: name 5-7 things that interest you but aren't in your profile, as tags so they are searchable. Then boost this post or repeat its instructions so others know to do the same." (an idea from @HedgeMage)

Show threadDoc Edward Morbius ❌​Apr 6, 2017
@stefanieschulte @HedgeMage Any alt coins, bit or otherwise? Does anyone anywhere in finance know who Frederick Soddy is? If so, capsule assessment would be of interest.
Show threadHedgeMageApr 6, 2017
@dredmorbius @stefanieschulte I play around with cryptocurrencies and blockchain tech on and off, but it's not an obsession. I live in a world where most people haven't yet mastered password management and back-ups, let alone keeping their workstation malware-free...so I won't be giving up on analog currencies as a concept soon.
Show threadDoc Edward Morbius ❌​Apr 6, 2017

@HedgeMage @stefanieschulte A friend is ... working on a ... um ... critical discussion of bitcoin. I've seen a draft. It's entertaining.

I'm inclined to think that Bitcoin's the best educational tool ever created on central banking and financial regulation.

Show threadStefanie SchulteApr 7, 2017
@dredmorbius @HedgeMage Sorry for not replying earlier... Personally, I believe that getting rid of fractional reserve banking would be a bad idea (and part of the ideology around bitcoin is related to full reserve banking, to my understanding). At the same time, mainstream economics doesn't explain banking (and money, whatever "money" means) very well. Therefore the discussion about bitcoin might be useful.
Show threadDoc Edward Morbius ❌​Apr 8, 2017
@stefanieschulte @HedgeMage A lot of my current understanding comes from Neal Stephenson, "Cryptonomicon" and "The Baroque Cycle", also Joseph Tainter's analysis of the Roman Denarius (compare Smith's discussion of coin debasement), and a few other stray bits. I find goldbugs and bitheads ... tedious.
Show threadStefanie SchulteApr 8, 2017

@dredmorbius One could argue that gold itself is in a bubble right now: People are buying it not because they expect more productive uses of gold in the future, but because they believe somebody else is going pay even more for it (self-reinforcing process).

That can be quite unhealthy, especially when financed with debt, as history has shown. I think the "money" system is only partly responsible for the amount of bubbles/speculation in an economy, though.

Show threadDoc Edward Morbius ❌​

@stefanieschulte I thought much of my thinking here was completely nuts. I at least have some fairly good company.

Natural resources especially has ... some /fascinating/ pricing oddness, most especially oil, though also coal and gas. Daniel Yergin's "The Prize", ch. 13, BP's Annual Statistical Review, Hotelling, etc. /end/

Apr 8, 2017 at 10:32amWeb