Archive for May, 2013

Dead British Foreign Policy

No to killing in my name! No to the neo-colonalism! Not even if it mean protecting our position in the world, one where we continue to take 6 times the wealth of the world that our population justifies. I would prefer to live a poorer life and reduce suffering across the world. Suffering that our “global economy” has doubled in 30 years – yes, our “globalisation” has doubled hunger to over 1 billion. Is this success?

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Drones and universality

Do rules exist for all or for some! I had no idea when I was young that “we” can bomb people without declaring war and without judging them in a court!

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Bitcoin is tricky to combat – good!

Bitcoin – what is it? Think of it as a video game. It has rules but, unlike video games, Bitcoin is “distributed”. This means that the rules cannot be changed without every participant of Bitcoin agreeing. This means that the rules won’t change – ever. If there are better rules then a new Bitcoin will develop.

The rules say that Bitcoins can be exchanged, can be created and have a limit – they cannot exceed 21 million. They can be created by “hard work”, called “mining”. Basically anyone who has the funds can invest in computer hardware to create Bitcoins. The more that are created, the more difficult it is to create new Bitcoins. The return on investment, i.e. the return on investing time and money in “mining” Bitcoins, is high at the beginning and lower towards the end (on the basis of today’s technology).

What is great about Bitcoins is that they can be exchanged without banks, Governments and regulators. It is akin to barter and brings power to the people not to the institutions.

Note that should you buy Bitcoins then changing them back to “country currencies” is under attack by Governments. This is Bitcoins vulnerability but also it’s strength – if Bitcoin takes off, why would you ever want to exchange it for another currency!

 

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Syria – support the Syrians to solve their problems

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Recalling a conversation about stagflation

Having lunch with a banker friend of mine I suggested that we were heading for a period of stagflation – inflation with no or limited growth. This was 2005.

Students learn that inflation comes from excess demand over supply and that this cannot happen when an economy is not growing. We now have 3% inflation and zero or negative growth. Oh dear  – can anyone explain?

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Chomsky is my hero – what a dialectician!

See this video – he is getting on a bit and sadly there are very few to come after him.

 

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Truth versus agenda

Do facts serve as paving stones to the truth or are they just a way to advance our own agendas? More coming

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