IN QUEST OF NATIONAL IDEA: “ENERGY RUBLE” BOUND TO BE THE HARDEST CURRENCY. VICTOR EFIMOV NEWSPAPER “CHAS PIK”, MAY 6, 2004
“None of the manuals on Economics puts a question of how a state gets wealthy; they focus on the art of getting rich within a single corporation, a single bank, or give a piece of advice to individual wealth. Nevertheless, in real life, the corporate effect proves to be achieved at the expense of some damage done to the state and society. The Russian economy has been purposely demonetized to hit one of the bottom positions in the world rating. This ‘blood’ loss was behind the collapse of all the parts of the industrial sector, and the intentionally created ruble vacuum was designed to be filled with US dollars and other monetary substitutes. There is no need at all to talk about the banking sector” ‘development’ if we are aiming at the establishment of the financial atmosphere that would facilitate real production. Banking could ‘develop’ for the account of finance pumped out of the industry by means of the interest rate. We need to restore the functionally appropriate relation of ‘money supply to GDP’ by a ‘one-shot blood transfusion’ Etimov. prof.
Debt is money, it is difficult to see how economies can grow without growth in debt, the velocity of money notwithstanding. That is a separate question to prosperity predicated upon ECOE and surplus energy. To look at that the Etimov article applied to China and the context of BRICS and the new SIlk ROad is very important. I find the paradigm shift currently taking place important, the new Washington Consensus monetary system will be predicated on CO2 measures I am sure but not Energy surplus or energy units. China and the Brics I think will be looking at Energy commodity units and key commodity resources. with Gold in the mix, as per Lietears TERRA.
Tim, regarding seeds my Blockchain project is now progressing with Alexandria/IOP who have a system for publishing/monetising scientific data sets, developed with MIT, it is perfect for commercial distribution of Seeds, let me know if you would like me to expand on how.
In February 2014 Devon & Amy James proposed decentralized applications ArchiveChain and MovieCoin on the Ethereum community forum. Early development proved a shared data layer for any digital content is more efficient than separate appcoins for each, so these initial ideas were combined to become Open Index Protocol. Significant contributions to the specification have been made by Ryan Jordan, Ryan Taylor, Skylar Young, Jeremiah Buddenhagen and lead Florincoin developer Joseph Fiscella.
The initial proof of concept archived social media data into a blockchain and visualized the data as an interactive word-cloud. It was demonstrated in October 2014 at Inside Bitcoins, Las Vegas. Next, streaming audio and video were added using the BitTorrent network. On Feb 19, 2015 the first piece of media was published and retrieved using a 100% decentralized system. Bitcoin has been used for paid content since the initial public release in April 2015 . In May 2015, the primary file storage/distribution network was changed to IPFS and support for BitTorrent was deprecated. At each stage, a user-facing browser or visualizer was built alongside specification development . Initially the browser was known as ‘The Decentralized Library of Alexandria’ and the specification as the ‘Alexandria protocol.’ In a demonstration at the Decentralized Web Summit hosted by the Internet Archive in June 2016, Sir Tim Berners-Lee said the names were confusing and suggested they be changed . The browser name was changed to ‘Alexandria’ and the specification name changed to ‘Open Index Protocol.’
HOW SERIOUS IS THE CHINESE DOWNTURN?
For more than ten years, capital markets have had one perennial obsession, with Wall Street, in particular, rising or falling with the latest change of sentiment over Fed rate policy. Now, though, a new fixation has taken over, with stock markets reacting to every slightest positive or adverse nuance in trade talks between China and the United States.
These obsessions share an irony, which is that the outcome of neither has ever been in much doubt.
On rate policy, and even when Fed comments have been at their most bullish, there’s never been much real chance of rates rising back towards what, pre-2008, was considered “normal”. After a ten-year-long debt binge, followed by more than a decade of ultra-loose monetary policy, the American and world economies are locked into an abnormality which must continue until it reaches its culminating failure.
Pushing rates up to…
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