THE ECONOMY
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Clinamenic
Binary & Tweed
Even so-called introductory articles still toss around technical terms as if they're common knowledge.
vimothy
yurp
jp koning has a nice little blog post about this distinction here: http://jpkoning.blogspot.com/2021/07/the-dollar-isnt-meme.html?m=1
The dollar-as-meme claim is often made by cryptocurrency enthusiasts. That this idea would emanate from the cryptocurrency community makes sense, since cryptocurrency prices are a purely meme-driven phenomenon. There is no cryptocurrency for which this is more apparent than Dogecoin... but it applies equally to Doge's older cousin, Bitcoin. The harder you meme the higher a cryptocurrency's price...
And so for cryptocurrency analysts, getting a good understanding of a given coin's value is a matter of picking through its underlying memes and meme artists.
But if cryptocurrency analysis is ultimately just meme analysis, what sort of analysis applies to dollars?
Dollars issued by banks are secured by the banks' portfolio of loans... And so they are subject to credit analysis, not meme analysis. An analyst appraises the quality of the bank's investments in order to determine the soundness of the dollar IOUs the bank has issued.
As for central banks like the Fed, they are just special types of banks... and so the dollars they issue are also subject to credit analysis.
The idea that the money issued by central banks—so-called fiat money—is subject to the same credit analysis as any other type of debt security is a point I've also made on this blog. There are certainly some odd features about Fed dollars or Bank of Japan yen, but ultimately they are just another form of credit
Clinamenic
Binary & Tweed
The US stock exchange index funds, which I gather are good enough proxies for the global financial market, are at a nearly 2-year low, and the crypto market is on fire. I managed to lower my average buy price for MATIC and LINK. Anyone else buying now?
Clinamenic
Binary & Tweed
IdleRich
IdleRich
Let me guess... was it Kwasi Karteng?
I went into a second hand clothes shop today and the shop assistant started bothering me (or asking if I wanted help you could say). I was struck by her accent and asked where she was from and she said, as I expected, Manchester. I said that I had family there and she replied that she had heard it was good lately but she hated it so much that she simply refused to go back ever. Gotta be the first time I've ever heard a northerner say anything negative about their home town.
padraig (u.s.)
a monkey that will go ape
padraig (u.s.)
a monkey that will go ape
in fact hasn't it been grim up north since essentially it was harried by William the Conqueror et al?
padraig (u.s.)
a monkey that will go ape
I'm not even being facetious that's kind of true
in a real way the north of England never recovered from the Norman invasion the way the rest of the country did
in a real way the north of England never recovered from the Norman invasion the way the rest of the country did
padraig (u.s.)
a monkey that will go ape
didn't that guy wrote that series of it's grim up north crime novels, but serious literature crime novels. they're set in Yorkshire,
that got made into a decent series of British televised films
I distinctly remember a line where a guy says "this is north and we do what we like"
that got made into a decent series of British televised films
I distinctly remember a line where a guy says "this is north and we do what we like"
padraig (u.s.)
a monkey that will go ape
I thought the entire northern reputation was being for, as you all would say, well hard
going back to the Viking Era and all thru history. endless border wars with Scotland. post-industrial towns. happy hardcore.
going back to the Viking Era and all thru history. endless border wars with Scotland. post-industrial towns. happy hardcore.
padraig (u.s.)
a monkey that will go ape
winter is coming Rich that's the north
padraig (u.s.)
a monkey that will go ape
winter, and 200 bpm happy hardcore with the vocals pitched up so high they instantly shatter both glass and eardrums to dust
Mr. Tea
Let's Talk About Ceps
According to Jonathan Meades, Britain is bisected by an 'irony curtain', running east-west and separating the Midlands from the North. South of this line, people tend to be ironic and self-deprecating about where they're from, while north of it, people take unironic pride in their hometown.
In praise of the Midlands | Jonathan Meades | The Critic Magazine
The Midlands are hurried through, unappreciated on the way to somewhere else…