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I'm not sure exactly which ideas the other commenter was referring to, but of course currency is affected by memes. Currency is a meme: it only has value due to

I'm not sure exactly which ideas the other commenter was referring to, but of course currency is affected by memes. Currency is a meme: it only has value due to the widespread idea that it should have value.

TomSwirly 5y ago
> Currency is a meme: it only has value due to the widespread idea that it should have value. It would be nice if people spent just a tiny amount of time studying economics before pronouncing on it. A US dollar, for example, is backed by the "full faith and credit of the United States Government", and this has an objectively measurable value (because there are pairs of almost identical securities where one has "full faith and credit" and the other doesn't). Unless your argument is "all securities and currencies are imaginary," of course, which has no practical value. Please note that I'm a far-left socialist and I consider capitalism destructive to the planet. But that doesn't mean I don't believe in economics.
- chmsky00 5y ago
  Economics are real, but the flow of currency is not economics. The flow of currency is politically influenced and has nothing to do with human trade for humans sake (economics as commonly understood but not actually since it’s conflated with currency movement). What we should realize through the study of economics is just how screwed things are. Anyone with any math sense should see inflation deflates buying power for the public, and has nothing to do with real trade but belief that a billionaire is leveraging real property so well on his own… oh wait all of humanity serves him by not changing the rules to serve themselves. What a convenient self fulfilling prophecy. The math makes it obvious which people are winning and science makes it obvious no one is more than one of seven billion. Somehow it’s miraculously a specific few winning big. Stop listening to it all. People trade. That’s it. There’s no need to speculate and manage the behavior to send billionaires in space on empty promises of humans …magically… becoming the first space faring civ. Sure seems to give Bezos a helluva life. I’m crazy though; humanity has never succumbed to shared fallacy at scale before. Who knows, maybe healthcare and education for all actually empower the kid who goes on to engineer the next big leap, but contemporary political memes filter those break throughs out by miserly tracking currency debts.

TomSwirly 5y ago

> Currency is a meme: it only has value due to the widespread idea that it should have value. It would be nice if people spent just a tiny amount of time studying economics before pronouncing on it. A US dollar, for example, is backed by the "full faith and credit of the United States Government", and this has an objectively measurable value (because there are pairs of almost identical securities where one has "full faith and credit" and the other doesn't). Unless your argument is "all securities and currencies are imaginary," of course, which has no practical value. Please note that I'm a far-left socialist and I consider capitalism destructive to the planet. But that doesn't mean I don't believe in economics.

chmsky00 5y ago
Economics are real, but the flow of currency is not economics. The flow of currency is politically influenced and has nothing to do with human trade for humans sake (economics as commonly understood but not actually since it’s conflated with currency movement). What we should realize through the study of economics is just how screwed things are. Anyone with any math sense should see inflation deflates buying power for the public, and has nothing to do with real trade but belief that a billionaire is leveraging real property so well on his own… oh wait all of humanity serves him by not changing the rules to serve themselves. What a convenient self fulfilling prophecy. The math makes it obvious which people are winning and science makes it obvious no one is more than one of seven billion. Somehow it’s miraculously a specific few winning big. Stop listening to it all. People trade. That’s it. There’s no need to speculate and manage the behavior to send billionaires in space on empty promises of humans …magically… becoming the first space faring civ. Sure seems to give Bezos a helluva life. I’m crazy though; humanity has never succumbed to shared fallacy at scale before. Who knows, maybe healthcare and education for all actually empower the kid who goes on to engineer the next big leap, but contemporary political memes filter those break throughs out by miserly tracking currency debts.