Modern Monetary Theory

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Re: Modern Monetary Theory

Postby dada » Tue Jan 26, 2021 4:22 pm

Have you considered that maybe you have no idea what I think about anything other than that, because I want it that way? My opinions themselves are cover for the illuminati. They need my help, since omnipotence is nothing without omniscience. The endgame is golbal liberal dystopia for all.
Both his words and manner of speech seemed at first totally unfamiliar to me, and yet somehow they stirred memories - as an actor might be stirred by the forgotten lines of some role he had played far away and long ago.
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Re: Modern Monetary Theory

Postby Belligerent Savant » Tue Jan 26, 2021 10:33 pm

dada » Mon Dec 07, 2020 1:09 pm wrote:When I read what comes out of the self-referencing and -reinforcing subculture bubble of conspiracy hobbyists, I can't help seeing how completely dominated and cowed they are by the idea of the illuminati.

The obsession frames every thought, obscures every fact and colors every opinion. The drive to conspiricize all moments takes over. But Bill Gates and friends are not the architects of the grand conspiracy that is hell-bent on stealing their precious bodily fluids. It's immersion in that subculture network which reproduces the architects of grand conspiracy inside them every day.



I dare not presume, but I would intuit you recognize -- despite your typed words otherwise -- that a growing amount of humans are keenly aware of certain higher-level machinations among the top-classes/oligarchs, but would never categorize this activity in one full-swoop/strawman pop term as "Illuminati" (which, in any event, is mostly a phrase relegated to the Alex Jones/hip-hop/sardonic hipster set, AKA lazy thinkers), and further, these woke* humans understand the myriad nuances involved in power structures, which are not viewed as monolithic (though at times, the power entities may have general agreements in principle Re: certain wide-scale plans, and at other times may well be at odds/warring amongst themselves)... not unlike the war in heaven right now among the gods and angels, surely battling for benevolent oversight of our precious souls.


*truly woke, not the poser/pseudo/fake "WOKE" commonly on display on twitter/instagram feeds by carbon blobs posing as casual liberals.
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Getting back to MMT

Postby JackRiddler » Tue Jan 26, 2021 11:20 pm

Gee golly, anyone read this interesting article about accounting I posted above?

viewtopic.php?f=8&t=41320&start=420#p692879
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Re: Modern Monetary Theory

Postby Belligerent Savant » Tue Jan 26, 2021 11:34 pm

It was an elegant summary - was planning to comment further at my next time of leisure, though i'll also disclose that my 'day job' entails occasional collaboration with forensic accountants when matters involve fraud investigations -- i've picked their brains a few times over the years, and as such have gleaned, over time, a fair amount of the insights conveyed in that piece.
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Re: Modern Monetary Theory

Postby dada » Wed Jan 27, 2021 1:05 am

I read it. Not sure what to say. Money, it's a gas.

"not unlike the war in heaven right now among the gods and angels, surely battling for benevolent oversight of our precious souls."

I see things very differently than you. For me, in heaven, the war ended long ago. I also don't recognize the rest of the post. Just not my thing. Or maybe I simply don't care? I don't know.

But anyway it doesn't matter. I think that I should allow the thread to orbit back around to its topic. I'm sure Jack wouldn't mind!
Both his words and manner of speech seemed at first totally unfamiliar to me, and yet somehow they stirred memories - as an actor might be stirred by the forgotten lines of some role he had played far away and long ago.
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Re: Modern Monetary Theory

Postby Belligerent Savant » Wed Jan 27, 2021 1:25 am

.
(The 'heaven' bit was intended as sarcasm/a play on certain sentiment. I've no bearing on heaven right now)
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Re: Getting back to MMT

Postby Elvis » Wed Jan 27, 2021 2:00 am

JackRiddler » Tue Jan 26, 2021 8:20 pm wrote:Gee golly, anyone read this interesting article about accounting I posted above?

viewtopic.php?f=8&t=41320&start=420#p692879


Yes! Thanks, lots to think about there, will be chewing on it. Reminds me, I should revisit the Graeber "5,000 Years" thread.
“The purpose of studying economics is not to acquire a set of ready-made answers to economic questions, but to learn how to avoid being deceived by economists.” ― Joan Robinson
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Re: Modern Monetary Theory

Postby Joe Hillshoist » Wed Jan 27, 2021 9:09 am

I dunno if this belongs here or not?

Read this twitter thread:

Is it real?

And if so how do we all get in on this?

https://twitter.com/williamlegate/statu ... 7874671616
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Sure, it belongs here...

Postby JackRiddler » Wed Jan 27, 2021 12:41 pm

.

Consider this the main thread for Wall Street and finance.

Though the old Wall Street thread dating back to 2009 or any other you want to bump is fine too, right.

Here's an education on what's unfolded -- this guy is great at explaining it.


https://www.youtube.com/watch?v=4EUbJcGoYQ4

Watch it.

Okay, back already? So Gamestop isn't evidence of a bubble. (Of course there's a bubble, duh.) It's evidence of a scam within the bubble. The scam was fucking hedge funds over-shorting the stock of a retail company, because they can. They shorted more shares' worth than exist. This means they have to buy those shares eventually, to end their liability. Note what this means in terms of supply and demand: They're forced to buy more than 100 percent of the shares! Because of their own motherfucking hedge-funders' scam, which was to short the shares all the way down to zero, making huge returns long as it never went up. Beautiful Reddit trolls (for this case we'll call them that) and just regular day-trading folks figured that out, since it's an open market and everyone can see there's shorts out for more than 100 percent. So they're buying Gamestop shares, which they know the hedge funds have to buy eventually, and refusing to sell. So after the scammer hedge-funds drove it down from 25 to 3 by shorting, the small-investor pirates bought it and watched it hit, like 192. And the hedge funds involved are going to go under, unless they can create some kind of terrorism narrative to deploy against the Redditors and day traders in this case, as though they're the ones who manipulated the market.

I can see how these kinds of manifestations can cause general FUD and trigger panic behaviors all around.

Anyway, what you posted Hillshoist is interesting: except for spinning it as though it starts with Reddit fucking the hedge funds, rather than months earlier on Wall Street with the hedge funds scamming and fucking Gamestop.

See new Tweets
Tweet
William LeGate
@williamlegate
·
19h
/r/WallStreetBets about to blowup another hedge fund, this one valued at $13.1 BILLION before the Reddit trolls decided to all buy GameStop lol
Image

William LeGate
@williamlegate
·
19h
Up nearly 100% just today, after being up about 100% yesterday lol tell me we're not in a bubble
Image
William LeGate
@williamlegate
·


It's a minor symptom of a galactic-sized bubble, and Fuck Melvin.

19h
If GameStop goes up another 17%, this hedge fund will instantly collapse. $13.1 billion gone. Poof.
William LeGate
@williamlegate
·


Oh golly gee no! Not a precious value-creating hedge fund going poof, instead of the evil-dinosour medium retail chain store they tried to burn out of business.

19h
Elon Musk just tweeted about the stock & they're now trading at $192 after-hours… if they open at this price, Melvin Capital will go bankrupt tomorrow morning. $13.1 billion in wealth transferred from Wall St to Reddit trolls.
William LeGate
@williamlegate
·
19h
What we're witnessing isn't a traditional pump & dump… it is an unorganized, yet collective effort of memelords & avg Americans to completely ignore all market fundamentals &, thru the power of social media, bankrupt hedge funds overnight, taking their funds. Legality unclear.
Image
William LeGate
@williamlegate
·


You gotta be shitting me. Legality unclear! How about being able to do naked shorts, eh? How about a market being allowed to short a stock for more than 100 percent of its total shares?

18h
Reddit is also in the process of meme-ifying AMC stock to revive it from the dead… this is like the Occupy Wall Street movement but on their own turf & with real financial consequences. Incredible.


Seriously, they're going to try to make rescuing these motherfuckers be Yellen's first action in office.

Seriously watch the video though if you just came to this story for the first time today.

.
We meet at the borders of our being, we dream something of each others reality. - Harvey of R.I.

To Justice my maker from on high did incline:
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The highest Wisdom and the first Love.

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Re: Modern Monetary Theory

Postby Belligerent Savant » Wed Jan 27, 2021 1:06 pm

^^^^^^^^

Loving this. "Beautiful Reddit trolls" indeed.
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Re: Modern Monetary Theory

Postby JackRiddler » Wed Jan 27, 2021 1:42 pm

Belligerent Savant » Wed Jan 27, 2021 12:06 pm wrote:^^^^^^^^

Loving this. "Beautiful Reddit trolls" indeed.


As I wrote:

(for this case we'll call them that)
We meet at the borders of our being, we dream something of each others reality. - Harvey of R.I.

To Justice my maker from on high did incline:
I am by virtue of its might divine,
The highest Wisdom and the first Love.

TopSecret WallSt. Iraq & more
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Re: Modern Monetary Theory

Postby Belligerent Savant » Wed Jan 27, 2021 1:47 pm

.

Yes, of course. Caveats are expected in these times.
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Re: Modern Monetary Theory

Postby Belligerent Savant » Wed Jan 27, 2021 6:36 pm

.
.

Listening to that excellent summation in full (the youtube clip shared by JR above); as good as the entire clip is, the first ~minute is worth transcribing here, as it offers a recurring theme Re: events over the past ~year (arguably, since humans became landowners):

...i'd like talk about market manipulation, wall street bets, the mainstream media, institutional investors and how they are trying to completely pull the wool over your eyes so that you blame the wrong group of people for what's been going on today. This makes me incredibly, incredibly angry and aggravated, because what they're doing in a lot of the articles that i'm reading, is they are framing the argument to prime the pump for you to be mad at someone that you shouldn't be mad at. They don't want you to be mad at the institutional investor; they don't want you to be mad at the greedy hedge fund manager; they want you to be mad at someone, just like you, who's typing on their keyboard some funny crap during work, posting little rocket ship emojis and buying stock -- and most of the time, what i see from the posts, a fairly small quantity. Now to be clear here, just because i am getting up here to to talk to you about the BS that money managers and hedge fund managers and institutional investors are trying to get across does not mean that i agree wholeheartedly with everything that i see posted on the wall street bets forum. Just because i dislike the money managers that appear to be pushing what i believe to be a false narrative, doesn't mean i sign off on everything i read here....

...at this point in time i believe that you are hearing only one side.


That's right. It's an over-simplification to a degree, but this summarizes some of the key machinations behind the madness we've experienced across the board -- not just 'Wall Street'.

It's not only that "they" have the money to be able to pull this off, it's also that they have the MEDIA -- their ubiquitous megaphones -- to help MISDIRECT and FALSE FRAME, keeping many in the dark, or confused, about just how hard they're being raped on a number of levels.

The other noteworthy insight by Louis Rossmann (the 'narrator' of the youtube clip) is this bit here, at about the ~15:40 mark:

...so a bunch of people that had nothing better to do because they probably lost their jobs because they're considered non-f'g essential by andrew cuomo said, "okay listen i got nothing better to do with my day, let me just go through every single stock in the market and see what shares are available short, and compare that to their book value, or their total equity, or their cash on hand", or whatever, and a bunch of people did that because they have a bunch of time too because they also have no job to go to and they found gamestop and they say, "hhhmm mm..."


How poetic. The filthy vile agenda that discarded these souls to 'non-essential' status was one of the key factors in allowing such persons to have the downtime to identifiy EGREGIOUS MANIPULATION that otherwise likely would have gone largely unnoticed, or otherwise, even if it may have been noticed in a 'non-lockdown world', there wouldn't have been as many with the necessary amount of time and impetus to pull this feat.

Image

It's not so simple as this, and it may not last long, but we need more of this spirit.
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Re: Sure, it belongs here...

Postby Joe Hillshoist » Wed Jan 27, 2021 6:42 pm

JackRiddler » 28 Jan 2021 02:41 wrote:.



Anyway, what you posted Hillshoist is interesting: except for spinning it as though it starts with Reddit fucking the hedge funds, rather than months earlier on Wall Street with the hedge funds scamming and fucking Gamestop.


.



Look I get that. I guess it was more ... to quote Maxi Jazz of faithless ... "The poetic justice of cause and effect."

Karma mother fuckers!!!

My understanding of what happened here was that this was an attempt to fuck the hedge fund simply to get revenge for them destroying or trying to destroy a gaming business (Gamestop), driven by gamers and financial types on reddit. I dunno if it was driven by making money out of the situation or not but my impression is it was more about revenge that profit.
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Re: Modern Monetary Theory

Postby Elvis » Thu Jan 28, 2021 4:20 am

Joe Hillshoist » Wed Jan 27, 2021 6:09 am wrote:I dunno if this belongs here or not?

Read this twitter thread:

Is it real?

And if so how do we all get in on this?

https://twitter.com/williamlegate/statu ... 7874671616


Thanks Joe! Fascinating, and I hadn't heard about it. I read the entire Twitter thread.

Jack, great explainer video.
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