[ExI] lotta splainin to do

[spike at rainier66.com]

From: extropy-chat <extropy-chat-bounces at lists.extropy.org> On Behalf Of Adrian Tymes via extropy-chat
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On Tue, Nov 15, 2022 at 7:35 AM Stathis Papaioannou via extropy-chat <extropy-chat at lists.extropy.org <mailto:extropy-chat at lists.extropy.org> > wrote:

They weren’t just doing that. They were using depositors’ funds for risky activities, such as lending to or investing in other parties or to subsidiaries. As a result their liabilities are now greater than their assets, and depositors will not get their money back.

 

>…In other words, they were acting just like a bank: see the causes of certain bailouts this side of 2000.  Adrian

 

 

Governments have a new toolkit for fighting competitors.  They could do government bailouts for companies that do risky stuff with investor’s fiat dollars but refuse bailouts for companies doing the same scheme using cryptocurrency.

 

This is important stuff.  We are at a time when plenty of us here foresee that China will take over Taiwan, giving China a monopoly on the world’s most advanced computer chips.  If China manages to pull that off while the US is weak and divided against itself, then it can export the less advanced chips and keep the more advanced ones for itself.  China generates power at a lower cost than anyone, since it makes all those solar panels which it subsequently exports while generating its own power using coal (still the cheapest way to generate power.)  These two factors will hand China the ability to mint the world’s money, while the USA is farting around in a useless attempt at fighting against cryptocurrency.

 

Adrian is there a flaw in this reasoning somewhere?  Please find one, for I don’t like where this all leads.

 

spike

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