12 Matching Annotations
  1. Nov 2021
  2. Jun 2021
  3. Apr 2021
    1. But in ancient Mesopotamia, beginning around five thousand years ago, people used clay tokens to record transactions involving agricultural produce like barley or wool, or metals such as silver. Such tablets performed much the same function as a banknote. Often, through the centuries, traders have devised such tokens or bills without government involvement, especially at times when coins have been in short supply or debased and devalued.

      more BTC historical context.

    2. What is the right historical analogy for all this? Allen Farrington argues that Bitcoin is to the system of fiat currencies centered around the dollar what medieval Venice once was to the remnants of the western Roman Empire, as superior an economic operating system as commercial capitalism was to feudalism. Another possibility is that the advent of blockchain-based finance is as revolutionary as that of fractional reserve banking, bond and stock markets in the great Anglo-Dutch financial revolution of the 18th century.

      Historical context for bitcoin

  4. Aug 2020
  5. Jul 2020
  6. Apr 2020
    1. more than three-quarters support the stimulus plans that have already passed and “77% of the public thinks it will be necessary for the president and Congress to pass another bill to provide more economic assistance for the country.” That includes 66 percent of Republicans. We are all Keynesians now.
    1. So, on April 9, 2020 the US central government (the president and Congress) and the US central bank (the Fed) announced a massive money and credit creation program that included all the classic MP3 techniques, including helicopter money (direct payments from the government to citizens). It was essentially the same announcement that Roosevelt made on March 5, 1933. 
  7. Oct 2015
    1. The urban crisis that is affecting millions would then be prioritized over the needs of big investors and financiers.

      Would the affected "millions" have the power/force to go up against these "big investors and financiers" though?

  8. Apr 2015
    1. Which world currency is currently experiencing among the most dramatic deflationary spirals anyone has ever seen? Bitcoin itself, the ‘existential threat to the liberal nation state’. 32 Any sane person putting their life’s savings into Bitcoin among all world cur - rencies right now is as foolish as a Dutch person buying tulip bulbs. That is because the problems with currencies actually aren’t formal, or mechanical, or algorithmic, despite what Bitcoin propagandists desperately want us to believe. They are social and political problems that can only be solved by political mechanisms. T

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