awt[asciilifeform]: !!ticker btc usd
deedbot[asciilifeform]: $28,178
billymg[asciilifeform]: 50k by EOM, sandwiches up 2%
asciilifeform: billymg: anyffin in particular behind this prediction?
billymg[asciilifeform]: asciilifeform: nah, just shitposting, don't think it will actually happen
signpost[asciilifeform]: http://logs.bitdash.io/pest/2023-03-20#1024980 << I expect them to start actively preventing movement of deposits in "emergency" situations, and deploying stimmies directly into beoble of walmart deposit accounts
bitbot[asciilifeform]: Logged on 2023-03-20 15:32:33 asciilifeform[6]: wonders in what sense reich previously lacked control over electro-usd in banks
asciilifeform: billymg: lolk
billymg[asciilifeform]: but could, who knows these days
billymg[asciilifeform]: could crash back to 15k
asciilifeform: signpost: iirc the '21 'covid' payola was already direct-deposited
signpost[asciilifeform]: then we agree there's a ratchet toward more direct control over individual accounts.
signpost[asciilifeform]: and that's kinda the play, right? emergency power introduced, sticks forever.
signpost[asciilifeform]: might even see account balances "inflation adjusted" and other inflation-accelerating insanity.
asciilifeform: signpost: 'prevent movement' imho is rather 'stuck in the past' paradigmwise -- naodays you'll 'move' yer $mil and, if bank 'needs to', they'll 'still have a $mil' for solvency purposes and so does the 1 you 'moved' to (you, naturally, will still have 1 $mil at the end of the day)
asciilifeform: i.e. they're building better lobster-boilers, not lobster-grinders
signpost[asciilifeform]: yeah, this announcement of "exploring" infinite backing of deposits is a remarkable acceleration of the fractional money multiplication.
signpost[asciilifeform]: combined with banks being able to post their worthless underwater paper for fed loans at par
signpost[asciilifeform]: somebody apparently reminded them they have a debt to monetize
asciilifeform: 'debt' is also somewhat of an archaic word here. traditionally the concept includes an expectation of repayment.
asciilifeform: most of that 'debt' is 'debt' in the sense that the infamous 'mickey mouse copyright' is finite.
asciilifeform: ( or nixon's 'temporary state of emergency' is temporary )
asciilifeform: the process of organized impoverishment of living standards is entirely orthogonal to the bank wank (and aint any kinda 'unfortunate accident', is entirely planned and proceeds at a rate quite unaffected by whether banks are popping or not at the given time
dulapbot: (asciilifeform) 2021-10-31 asciilifeform: current usg proj is to ramp down their 'expects' to what is suppliable. e.g. mcd rather than baked bread.
asciilifeform: http://logs.bitdash.io/pest/2023-03-21#1024993 << asciilifeform admits that not sees how they were anyffin less than fully-controlled prior (for 2decades nao, reich already zeroes out yer accts if yer on trial as 'enemy of the people', or if they decide you could've paid moar tax, or any # of things )
bitbot[asciilifeform]: Logged on 2023-03-21 11:47:32 signpost: then we agree there's a ratchet toward more direct control over individual accounts.
asciilifeform: what does seem plausible is that the pretense of 'there are n banks' will finally be dispensed with, and replaced with unified sovok-style 'zberkassa'
signpost[asciilifeform]: yeah, but we're not arguing two sides of this thing
signpost[asciilifeform]: merely observing that the rate of meddling with individuals is going to go way up.
signpost[asciilifeform]: actually if you have anything to rec to read on how soviet "banking" worked, would read
asciilifeform: in the familiar reich style, tho, where most of the victims, most of the time, 'anesthesized' and neither know nor give a shit that it's happening
asciilifeform: signpost: risky to make direct analogies with sovok banking, because money did not play anyffin like same role in ye olde sovok as in the current reich
asciilifeform: most resource allocation worked by a non-monetary parallel system.
asciilifeform: the relevant aspect is that there was precisely 1 'bank', and one could deposit in it and get a (joke) interest. but most folx who had a surplus wouldn't do it (given as if you had what, it was usually via illicit cash-on-barrelhead dealing) and what, if anyffin, was in yer savings acct, would have ~0 impact on yer life (r
asciilifeform: etirement was from state pension tied to yer profession, for instance)
asciilifeform: 'savers' generally hoarded paper cash (all retail economy, Official or otherwise, was cash-only)
asciilifeform: on several occasions they had devaluations, specifically to zap 'underground millionaires', with their dough-filled mattresses.
asciilifeform: ( today these are Officially 'heroes', but not errybody forgot that, virtually w/out exceptions, they were simply selling stolen/diverted goods )
asciilifeform: subj arguably beaten to death, but today's reich is slowly transitioning into a historically-normal command economy, where money plays (at least for plebes) a largely ceremonial role, and 'the type of person who is allowed to have things' (generally hereditary) 'will have things', the type who aint -- won't
asciilifeform: the vestiges of the old system (independent, or even theatrically-independent banks, 'investment', etc) are being GC'd.
signpost[asciilifeform]: yeah, what I meant by direct control of deposits (as opposed to indirect control by monetary expansion). pleb's gonna have company store credits sized to McDs, iPhone, most importantly, infertility.
signpost[asciilifeform]: can't see how policy is anything other than population destruction at the lower castes.
asciilifeform: signpost: moar nuanced : infertility for the 'expecting to live in houses, be ill in hospitals, and retire' class; massively subsidized fertility for the replacement '0 expectations' class
billymg[asciilifeform]: http://logs.bitdash.io/pest/2023-03-21#1025020 << did any of these sleep on gold bars instead of govt. paper?
bitbot[asciilifeform]: Logged on 2023-03-21 12:14:36 asciilifeform[4]: on several occasions they had devaluations, specifically to zap 'underground millionaires', with their dough-filled mattresses.
billymg[asciilifeform]: i've seen accounts on social media that in present day e.g. argentina, venezuela, nigeria people are using bitcoin for commerce (if not directly then via neighborhood hawala)
billymg[asciilifeform]: perhaps someone present has first or second hand account of this and can share whether it's just social media hype or actually happening, and at what scale
asciilifeform: http://logs.bitdash.io/pest/2023-03-21#1025027 << gold bar was a capital offense ( as were, for that matter, wads of usd -- but the latter were far easier to get hold of & liquidate when needed )
bitbot[asciilifeform]: Logged on 2023-03-21 12:34:20 billymg: http://logs.bitdash.io/pest/2023-03-21#1025020 << did any of these sleep on gold bars instead of govt. paper?
asciilifeform: http://logs.bitdash.io/pest/2023-03-21#1025029 << afaik 100% gox-powered ( but asciilifeform not sitting there and cannot confirm 1st hand. stands to reason tho that folx who not even own an actual computer in most cases, aint using actual full noadez )
bitbot[asciilifeform]: Logged on 2023-03-21 12:40:41 billymg: i've seen accounts on social media that in present day e.g. argentina, venezuela, nigeria people are using bitcoin for commerce (if not directly then via neighborhood hawala)