rojeee

14 ms·

121.
by rojeee 6y ago
Gosh, you are right (and I'm completely wrong). I've royally messed up my money definitions. What I meant by M1 was actually M0... Or the base money supply. It also seems that each country uses the same MX symbols but they mean di
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by rojeee 6y ago
Remember that an increase in M1 doesn't mean "more money for everyone"! It just means more reserves for banks. I think the key thing here is to look at is increase of bank deposits (I.e. money for you and me). That is M2 MINU
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by rojeee 6y ago
M1 can _only_ be held by commercial banks. The banks _only_ use this money to settle transactions between themselves and as eligible reserves. The money isn't used to buy stocks or bonds or whatever. The purpose of an increase in M1 mo
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by rojeee 6y ago
> The monetary base grew by 25% and velocity of money is approaching 1.0. That isn't small, someone has an insane amount of money staring them in the face and they've done nothing to justify it. Remember that when the FED condu
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by rojeee 6y ago
Well said. Indeed, there are many people who don't understand how inflation manifests. Just because the FED printed a bunch of dollars _doesn't_ mean there will be rampant inflation! Yes, increasing the outside/base money sup
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by rojeee 6y ago
This is true! Sorry, I’m a bit of a nerd about this stuff. I was just making the point that, in accounting terms, the banks don’t invest money... they create and destroy it! Loan creation goes hand in hand with deposit creation and is a “gr
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by rojeee 6y ago
Not to be pedantic but central banks can and do become insolvent! E.g. developing nations with dollar denominated debts. Central bankers will tell you they can’t go bankrupt but of course they have to say this as the whole system is based u
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by rojeee 6y ago
That’s good to hear! How do you envision it working?
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by rojeee 6y ago
Thanks for that - very interesting. I think it is possible to create a pure credit/IOU monetary system and I’m working on it at the moment. Though reality is that I spend most of the time reading economics journals... The key is to tra
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by rojeee 6y ago
Interesting. Do you have any links to some of the new IOU market maker projects? Cheers
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by rojeee 6y ago
Indeed, I'm surprised that large corporations are buying in at this point. I wonder what their corporate social responsibility departments think about it...?
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by rojeee 6y ago
Tether's market cap is the largest of all the stable coins and it's unclear that Tether's liabilities are sufficiently collateralised and they can't/won't prove that they are. That's a problem for a produc
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by rojeee 6y ago
I signed up to the mailing list (blogging for developers) and it's really been helpful for me over the past week or so! Would definitely recommend it.
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Anti-aging: oxygen therapy increases telomere length by up to 20%(telegraph.co.uk)
26 points by rojeee 6y ago|6 comments
135.
by rojeee 6y ago
I used to be a data analyst in a fraud investigation team and we would often use Benford’s Law to figure out whether a nominal account in a general ledger contained dodgy transactions. It’s a useful tool but needs to be used in the context
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by rojeee 6y ago
Have you looked at revenue based finance? Basically: you can sell your receivables at a discount for upfront cash. No dilution. Plug: I'm a founder of www.foldcap.com - UK based and looking to do our first deal in the next couple of mo
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by rojeee 6y ago
Where I work it the software doesn’t interfere with development tools but still, I don’t like the idea of it. Luckily they only have such monitoring software for Mac OS and Windows, so the solution is to use Linux (for now). If your company
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by rojeee 6y ago
Sorry about the slow reply here. With the virtual credit cards, you also need a billing address in most cases. I guess that can be the same for all customers. Perhaps they also get an email address with it and that handles all the receipts&
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by rojeee 6y ago
Nice list. In particular, I think consolidation of payments infrastructure and the anonymous credit card ideas are great though both are some what opposed to each other! Merchant acquiring doesn’t need to exist anymore... Just look at the
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by rojeee 6y ago
I think this is a great idea and economists have been looking at this for nearly a century now, for example, there is Knut Wicksell's "Pure Credit Economy" from 1919 but not much progress has been made. There's a nice pa
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by rojeee 6y ago
Nice intuition because it already exists in the UK for freelancers. Combined banking, accounting, auto tax return: https://getcoconut.com
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by rojeee 6y ago
This is normal and doesn’t shed any light on the matter. Companies/individuals routinely hold cash in accounts they don’t control. For example; Client money accounts and collateral/margin accounts. Either way, the auditors would h
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by rojeee 6y ago
Unfortunately, it actually takes _months_ to send bank confirmations and receive all the replies. Mad, I know but that’s the way it worked when I used to do it. The process involves sending snail mail to the banks who take ages to respond w
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by rojeee 6y ago
I used to work at EY in banking & capital markets audit - before I went into engineering - and everyone learns that if there is one thing, ONE THING!!! that the auditor should always do, it is to send bank confirmation letters. You get
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by rojeee 6y ago
Sounds like you made the right decision! When we started the project four years ago, coroutines were still quite experimental so wasn't a feasible option for us. If I were to consider all the trade-offs, moving to coroutines not someth
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by rojeee 6y ago
Fair point - all this is true. As a counter-point, I've been working on a platform for the last few years which uses Kotlin and Quasar in production. Quasar was cool at first but now it's just a nightmare and I wish we never opted
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by rojeee 6y ago
Perry Mehrling - The Money View. He has a course on coursera [1]. It’s the best explanation I’ve seen of how the economy works. It’s a bank centric view and focuses on balance sheets for analysis. Highly recommend it. [1] https:/&#x2F