上級分類: 經濟金融經濟增長宏觀經濟學

The Scandal of Money

There is no objective measure for value, like physical units: meter, second, ampere, etc. How to create an objective measure of money?

YAML 問題

George Gilder points out -- "Basic challenge of the world economy today, is to address the scandal of money. We today have 5.1 trillion dollars of every 24 hours of currency trading, and this currency trading accomplishes nothing, except to endow central banks with the right to steal from the future in order to consume in the present, and steal from future generations, and I believe, the real reason for the trade war is not trade or industrial machinations, - it’s the collapse of money. So, 5.1 trillion dollars a day of currency trading – it’s 25 times all global GDP, it’s 70 times all trade in goods and services, and it doesn’t even prevent constant hedging of every transaction across the border, it doesn’t prevent trade conflicts, it doesn’t really accomplish its goal. So, I think that the great contribution of blockchain, is to allow a new global currency, that plays the role that gold played for a hundreds of years of the fastest growth of the world’s economy… and it’s what really what blockchain [can do]: not only a new Internet architecture, but also a new global architecture for the world economy.

"You don't think it's virtual wealth only? Just like the stockbrokers?"

"It's not wealth itself. It's the measuring stick of wealth, that guides entrepreneurial visions and creativity -- you gotta have a measuring stick: just as you need to measure the 'second', the 'kilogram', the 'ampere', the ‘mol’ – all the various measuring sticks that make it possible to make a chip in Taiwan and incorporate it in a smartphone in Shenzhen, and send it to Cupertino for marketing into Israel for amplification – all of that is made possible by common measuring sticks: the nanometer is the same in Shenzhen as it is in Timbuktu, but money, which is a critical measuring stick, is different all around the world, – is being manipulated by national central banks -- so we have a chaos of money… and that’s why the world economy is slowing down now, why trade is no longer growing, why countries are constantly fragmenting and fighting over valuations."

Simply put, each currency, even each blockchain is like a rope, but we don't have a "meter" to measure their value objectively. The value currently is set through supply-demand equilibria - currency wars, trade wars, valuation wars, that are inherently subjective.






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加密貨幣也只是繩索,它們是金錢醜聞的一部分。我認爲,只有共同定義人生的真實目標,併爲該目標制定合理的距離度量,然後對其進行衡量,纔可以解決“金錢醜聞”。

市場試圖估計交易者的價值而不是人壽的價值,並且市場過於愚蠢,無法得出客觀的價值衡量標準。

Cryptocurrencies are also just ropes, they are part of the scandal of money. In my opinion, only by together defining the true goal of Life, and creating rational distance metric to that goal, then measuring it, is how we can resolve the "scandal of money."

Markets try to approximate what traders value, not what Life values, and markets are too dumb to come up with objective measure of value.



    : 尹與及
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Mindey,
[+]

[Mindey]您可能喜歡星期五的此在線活動,與貨幣設計師Ferananda Ibarra聊天。

[Mindey] you may like this online event on Friday, a chat with a currency designer Ferananda Ibarra.


//“從稀缺到充足”(從事件描述開始)//

不,我對“從連接到繁榮”感興趣。 “足夠”永遠是不夠的。

// "From Scarcity to Sufficiency" (from event description) //

Nay, I'm interested in "from Connection to Prosperity" instead. "Sufficiency" not enough, ever.


嗯,我認爲世界不是由文字而是互動來定義的。因此,事件是與人們就主題進行互動的空間。交互作用塑造了所使用的詞語,並塑造了我們的世界觀以及整個世界。

Hmm, I view the world not defined by words but by interactions. So, events are spaces to interact with people about topics. And interactions shape words used and shape our world views, and such the world.


我認爲大量的金融工程都是欺詐行爲。只看避稅。

但是,令人討厭的是貨幣本身。法定貨幣本質上是欺詐性的。

我認爲一個金融集團可以在國際上稀釋一個國家的價值是錯誤的。

比特幣不是解決方案。比特幣領主是另一種性質的領地,投機jack狼。

I think a large amount of financial engineering is fraudulent. Just look at tax avoidance.

But what's rotten in demark is the currency itself. Fiat currency is fraudulent by its nature.

I think it's wrong that a country's worth can be diluted internationally by a financial cabal.

Bitcoin is no solution. The bitcoin lords are fiefdoms of another nature, speculative jackals.



    : Mindey
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chronological,

一個國家的價值與一個國家對資本的安全程度有關。

錯了大多數人沒有資本。

Value of a country is connected to how safe a country is for capital.

That's wrong. Most people don't have capital.


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