@tstopford @sjh_24 @labourcartel @probablyclass The creators of credit should not also be investors and speculators. That is such a novel idea it could never become reality.
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Oh, wait.
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That was US law from 1933 to 1999, although its authority was eroded after 1982. @tstopford @sjh_24 @labourcartel @probablyclass The Glass-Stagall Act became law in 1933 to end abuses in the financial sector that contributed to the crash of 1929 that led to the Great Depression.
It was finally ended when Bill Clinton signed into law the Gramm–Leach–Bliley Act in 1999 - forever a blemish on his record.

@skar_of @geostylegeo Duncan was a private rescue. His owners were getting divorced and Golden breeders on Long Island were trying to place him as a pet. One of them called me because they knew we had a female littermate of Duncan's. (That littermate had been shown with points but stopped when she @skar_of @geostylegeo developed a uterine infection and had a hysterectomy. She was never bred.)
So we said we would take Duncan to Dutchess County NY where we lived and had a small kennel with space for him until someone located a new home.
I drove down to Long Island one night, picked Duncan up at

@geostylegeo My top 3 favorites:
1. Golden Retriever
2. Border Collie
3. Vizla
I have owned all three. @geostylegeo Here's my favorite Golden Retriever. My wife was the owner & Patty McCoy the handler. Am. Can. Ch. Sir Duncan of Woodbury. Amazing story. A rescue dog at age 6 years, he finished his Am. Ch. in 12 shows that year and became the second leading producer of champions ever in US.

From The Federal Papers, No.1, Alexander Hamilton:
avalon.law.yale.edu/18th_century/f…
"An enlightened zeal for the energy and efficiency of government will be stigmatized as the offspring of a temper fond of despotic power and hostile to the principles of liberty. ... "... An over-scrupulous jealousy of danger to the rights of the people, which is more commonly the fault of the head than of the heart, will be represented as mere pretense and artifice, the stale bait for popularity at the expense of the public good. ...

Partition of Ukraine

If the basis for peace is a portion of Ukraine, here are some thoughts.
First, what would Putin want:
Maybe the yellow and red areas plus all other east of the Dnieper River. Might be named "Skhidna Ukraine Republic". 2/n
Partition of Ukraine - What would NATO want?
Keep the yellow part in Ukraine.
What compromises might occur?
Skhidna Ukraine Republic hold everything east of the Dnieper River, Ukraine everything west.
Russia has no border with Ukraine remaining.
Unlikely agreeable to NATO.

@johnakhibijnr @Schuldensuehner We are in a debt-deflation end game - that'll see a much "stronger" dollar as assets deflate. Saudi Arabia does not understand it is just playing into the teeth of a tempest it cannot defeat.
@scientificecon @ProfSteveKeen @GTCost @GeorgeSelgin @paulkrugman @dandolfa
-more- @johnakhibijnr @Schuldensuehner @scientificecon @ProfSteveKeen @GTCost @GeorgeSelgin @paulkrugman @dandolfa 2/n
Controlling this deflation without severe economic damage requires monetary and fiscal actions not heretofore pursued (except to a limited extent in Japan).

Some combo of the following:

-more-

@DavidBCollum Dave, I have had some conversations with people knowledgable in epidemiology. They don't know facts from Hubei but speculations are interesting:
The initial outbreak was not treated as serious and the ill were not isolated.
1/n @DavidBCollum 2/n
More speculation:
When there should have been a better response it was hampered by lack of test kits to determine who should be isolated because they had the disease.
-more-

@m0r4h3u5 @jp_koning @GeorgeSelgin This is an okay article that morphs into a bitcoin advert. For that reason, I did not leave a "like" or comment with the article.

Definitions of money are too simplified-don't sufficiently separate the utility functions: medium of exchange, unit of account, store of value + @m0r4h3u5 @jp_koning @GeorgeSelgin 2/n
These 3 functions contain some internal conflicts that are all too frequently talked around. Such discussions can become circuitous.

Bottom line: money used today is anything accepted as a medium of exchange. As your article points out, it's most commonly fiat money. +

@kniesswm There is always the question of how much money should there be. That is the "sticky wicket". The monetary system today avoids the problem of too much money by creating all money as credit. As Derryl explains in this article that creates a new problem. 1/n @kniesswm 2/n
If every dollar of credit creates a larger obligation (repayment of principle which is a 100% claim on that dollar PLUS interest for which the loan did not provide any money). In addition, there are "leakages" where money escapes the credit system and is held elsewhere. ++