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David Frum
@davidfrum
, 7 tweets, 1 min read Read on Twitter
So Erin Burnett catches Moore in a lie, but ... 1/n
Moore's fall-back position: "not a gold standard specifically, but a commodity basket generally" is possibly even a worse idea, because ...
Commodity prices are not stable! In the short term, they fluctuate wildly. In the long term ...
I get the attraction of ideas like the gold standard/commodity baskets. The truth about money is too freaky for the human mind to absorb.

"What is money?"

"Whatever people think it is."

"Whoah."
It's like realizing that everything you know and love amounts to a little speck on a rock whizzing through space at 67,000 mph wrapped in life-smothering vacuum. Scary.
Ditto the radical arbitrariness of money. How much more calming to believe that value must inhere in something bright and shiny! The idea that we ... made it all up ... is disorienting.
But - we did.
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David Frum
@davidfrum
You can love Notre Dame without endorsing the Middle Ages.

In the words of Kingsley Amis' Jim Dixon:

"Those who profess themselves unable to believe in the reality of human progress ought to cheer themselves up ... by a short study of the Middle Ages. ...
" ... The hydrogen bomb, the South African Government, Chiang Kaishek, Senator McCarthy himself, would then seem a light price to pay for no longer being in the Middle Ages. ...
"Had people ever been as nasty, as self-indulgent, as dull, as miserable, as cocksure, as bad at art, as dismally ludicrous, or as wrong as they'd been in ... the Middle Ages." - Lucky Jim.
Read 3 tweets
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David Frum
@davidfrum
Serious thought about the 75th anniversary of D-Day. As with the 100th anniversary of Armistice, it's wrong wrong wrong to mark these occasions with military pomp. ...
By now, the time has long passed to celebrate the victory of one set of grandfathers (or great-grandfathers!) over another set. We are commemorating the advent of European peace and friendship, bought by the terrible sacrifices and sufferings of those grandfathers
November 11, 2018; June 6, 2019 - these should be commemorations of peace, reconciliation, friendship among former combatants - their shared commitment to liberal democracy.
Read 6 tweets
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David Frum
@davidfrum
The president and his talkers falsely denied Russian interference. They falsely denied meeting with the interferers. They falsely denied that Trump was pursuing business opportunities in Russia through election day ...
They falsely denied that Trump's son-in-law established a clandestine back channel to Moscow using Russian facilities. They falsely denied that their first national security adviser took pay from Russia in violation of DoD rules ...
What is being called "vindication" today is the acceptance not only by Trump but by the conservative world - and slices of the hard left too - of the most successful clandestine foreign perversion of a US election in US history.
Read 4 tweets

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John Reade
@JReade_WGC
Gold: Trading around $1288/oz, #gold is a little softer Tuesday in European morning hours.

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John Reade
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⚢⚧🌸The Sacrifice is Made🌸🧜🏾‍♀️🦋
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John Reade
@JReade_WGC
Gold: Sitting like a Coiled Spring, #gold remains below $1200/oz on Monday, although it has recovered a little ground from the lows last week. 1/7
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Tristan A. Volpe
@TeeAndersVolpe
The US appears to be negotiating a nuclear cooperation agreement with Saudi Arabia. What does that mean and why should you care? Spend 15-30 minutes perusing through this literature thread to get up to speed (1/n):
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Wes ⚡️
@wesfree
In its desperate, unenlightened attempt to undermine & attack the Virtual Currency model (#BTC), the EU/ECB has created a legal timebomb! A/
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