Wednesday, August 24, 2022
The Magician's Sheep | George Gurdjieff
The Liberal Political Theology | Neema Parvini
Neema Parvini (2022) - The Populist Delusion
The Rulers and the Ruled | Gaetano Mosca
indeed I am opposed to pure democracy precisely because I am a liberal.
I believe that the ruling class ought not to be monolithic and homogeneous
but ought to consist of elements which are diverse in regard to origin and
interests; when, instead, political power originates from a single source,
even if this be elections with universal suffrage, I regard it as dangerous
and liable to become oppressive. Democratic Jacobinism is an illiberal
doctrine precisely because it subordinates everything to a single force,
that of the so-called majority, on which it does not set any limits."
[...] From our point of view there can be no antagonism between state and society. The state is to be looked upon merely as that part of society which performs the political function. Considered in this light, all questions touching interference or noninterference by the state come to assume a new aspect. Instead of asking what the limits of state activity ought to be, we try to find out what the best type of political organization is, which type, in other words, enables all the elements that have a political significance in a given society to be best utilized and specialized, best subjected to reciprocal control and to the principle of individual responsibility for the things that are done in the respective domains.
"Who says organization, says oligarchy. [...] Historical evolution mocks all the prophylactic measures that have been adopted for the prevention of oligarchy." Robert Michels, 1911 |
Gaetano Mosca (1896) - The Ruling Class (Elementi di scienza política).
See also:
The Magic of Money | Hjalmar Schacht
For this reason there is no such thing as international currency. It is unlikely that it will ever come into being. International money would have to be granted the status of legal tender in all countries in which it circulates. In all these countries it would have to be possible to settle every state and private obligation in this currency. Any institution controlling this. currency irrespective of whether it is a bank or a government department would dominate the world an unthinkable situation. Currency is the most nationalistic factor in political life. Every central bank responsible for issuing it is dependent on the government of the country by whose laws it was instituted, and which makes its notes legal tender in the country's home territory.
The granting of credit is unthinkable without a central bank. No central bank can be allowed to act against the government of the country. The government is over the central bank, and influences its policies. It is thus also in a position to inflate the currency by taking up too much credit with the central bank. No international central bank could countenance such a situation. It cannot permit one of the governments with which it is associated to misuse its facilities unless every other government is in agreement. This however is a condition which cannot be reconciled with the fight of all against all in time of economic difficulty. No state will surrender so much of its sovereignty that its partners or competitors are given the power to prescribe its economic and financial policies. Standing over and above central bank and government, both of which are led and administered by changing personalities, there is a higher, impersonal, and substantially necessary law: the stability, the constancy of value, of money. This higher law has in the past granted the central banks an autonomous, independent position. Governments change, and can pursue good or bad currency and credit policies according to whether or not it is to the advantage of the party in power.
"Dr. Schacht, you should come to America. We’ve lots of money and that’s real banking".
Schacht replied, "You should come to Berlin. We don’t have money. That’s real banking".
[...] Even if common currency is regarded and desired as the crowning achievement of the European Common Market, it would be wrong to leave the relationship between the government and the central bank out of account. [...] The closer the economic ties between various countries, the easier will it become to reach agreement on currency policies. Whether these will ultimately lead to a unitary currency will always depend on the extent to which the participants are prepared to surrender their sovereignty. Here in fact is the Common Market's chief problem.
Hjalmar Schacht (1967) - The Magic of Money
Tuesday, August 23, 2022
The Conspiracy of the Counterfeiters | Nikolai Starikov
Guy de Rothschild's stooge in the Elysée.
The system established by the bankers was close to collapse. The gold default of the dollar concurred with the military defeat of the Americans in Vietnam. [...] Being aware that the capability of the USA to exchange dollars for gold at a fixed rate would be increasingly distrusted, they decided to get over this precipice in several steps. On 17 March, 1968 the Americans cancelled the dollar conversion into gold at a fixed rate for private traders. Central banks still could exchange dollars for gold at an official rate of 35 dollars per 1 troy ounce. At this, all ‘independent’ central banks in all countries were privately commanded to prevent such conversion by any means. On 15 August, 1971 the USA President Nixon, during his speech on the national (!) TV, incidentally announced the temporary taboo on the dollar conversion into gold at an official rate in central banks.
La république en marche. Allons enfants de la patrie.
Nikolai Starikov (2016) - On Global Debt Slavery.
Who Ever Sets the Price of Gold and Silver | Stephen Mitford Goodson
There was an increase in trade and Rome became one of the most prosperous cities in the ancient world. [...] bronze coins represented national money and were paid into circulation by the state and each was only of value in as much as the symbols on which its numbers were recorded, were scarce or otherwise. This money was thus based on law rather than the metallic content. [...] This can be considered as an early example of the successful use of fiat money.
While fiat money is much criticised in some quarters, for example by the followers of Austrian economist Ludwig von Mises, there is nothing wrong with it, as long as it is issued by government, not by private bankers, and is carefully protected against counterfeiters. Non-fiat money, in contrast, has the serious drawback that who ever sets the prices of gold and silver, i.e. private bankers, can control the nation’s economy.
[...] in September 45 BC, Caesar found the streets and cities crowded with homeless people, who had been forced off the land by usurers and land monopolists. 300,000 people had to be fed daily at the public granary. Usury was flourishing with disastrous consequences. [..] Caesar fully understood the evils of usury and how to counter them. He recognized the profound truth that money is a national agent, created by law for a national purpose, and that no classes of men should withhold it from circulation so as to cause panics, in order that speculators could advance the rates of interest, or could buy up property at ruinous prices after such panic.
Caesar introduced the following social reforms:
- Restoration of property was done at the much lower valuations which held prior to the civil war (49-45 BC).
- Several remissions of rents were granted.
- Large numbers of poor citizens and discharged veterans were settled on allotments.
- Free housing was provided to 80,000 impoverished families.
- Soldiers’ pay was increased from 123 to 225 denarii.
- The corn dole was regulated.
- Provincial communities were enfranchised.
- Confusion in the calendar was removed by fixing it at 365¼ days from 1 January 44 BC.
His monetary reforms were as follows:
- State debt levels were immediately reduced by 25%.
- Control of the mint was transferred from the patricians (usurers) to government.
- Cheap metal coins were issued as the means of exchange.
- It was ruled that interest could not be levied at more than 1% per month.
- It was decreed that interest could not be charged on interest and that the total interest charged could never exceed the capital loaned (in duplum rule).
- Slavery was abolished as a means of settling debt.
- Aristocrats were forced to employ their capital and not hoard it.
Stephen Mitford Goodson (1948 - 2018) was a South African economist, author, politician and former Director of the South African Reserve Bank. He was the leader of South Africa's Abolition of Income Tax and Usury Party, and stood as a candidate for the Ubuntu Party in the 2014 General Elections.
Thursday, August 11, 2022
The Zurich Axioms | Max Gunther
Sunday, July 31, 2022
On Randomness, Uncertainty, and Probability | Nassim Nicholas Taleb
A mistake is not something to be determined after the fact, but in light of the information available until that point. No matter how sophisticated our choices, how good we are at dominating the odds, randomness will have the last word.Mild success can be explainable by skills and labor. Wild success is attributable to variance. Bullish or bearish are terms used by people who do not engage in practicing uncertainty, like the television commentators, or those who have no experience in handling risk. Alas, investors and businesses are not paid in probabilities; they are paid in dollars. Accordingly, it is not how likely an event is to happen that matters, it is how much is made when it happens that should be the consideration.
We do not need to be rational and scientific when it comes to the details of our daily life—only in those that can harm us and threaten our survival. Modern life seems to invite us to do the exact opposite; become extremely realistic and intellectual when it comes to such matters as religion and personal behavior, yet as irrational as possible when it comes to matters ruled by randomness (say, portfolio or real estate investments). I have encountered colleagues, "rational," no-nonsense people, who do not understand why I cherish the poetry of Baudelaire and Saint-John Perse or obscure (and often impenetrable) writers like Elias Canetti, J. L. Borges, or Walter Benjamin. Yet they get sucked into listening to the "analyses" of a television "guru," or into buying the stock of a company they know absolutely nothing about, based on tips by neighbors who drive expensive cars."
Saturday, July 30, 2022
Trading the S&P 500 with the Lunar Cycle | Randall Ashbourne
[...] What I discovered was that, statistically, the old assertions not only hold up, but when traded consistently over time, produce big profits for small amounts of time exposed to market conditions [...] Buying a single share of the index at the closing price of our starting date on the January 4 New Moon and holding until the close of the June 1 Solar Eclipse New Moon, produced a profit of $44.35 - 3.49% (bottom left corner of the table).
[...] Staying OUT of the market during all New Moon-Full Moon phases would have protected us from losing some of our buy-and-hold gains … but delivered much better profits for our Loonytoons strategy by being profitable Short trades. We were in the market ALL the time, but continually reversing positions - to get three times the profit of buy-and-hold. The darker green coloring shows the very profitable trades, the light green shows profitable trades. The rose coloring shows that only ONE “assumed” Short phase would have resulted in a trading loss. But, remember … this is overall, taking into account the full 6 month period.
[...] take advantage of the Quarter Moon dates. So, our trading strategy now becomes to open 1 position at either the New Moon or Full Moon, but to add an extra position at the First Quarter or Third Quarter date. And the table below shows a significant boost to our potential profits: Instead of relying totally on the 14 day Short from NM-FM, we add one extra Short at the 1Q Moon - boosting the overall profit from Short trades from $46.61 to $109.36. And we adopt the same strategy when we reverse to Long trades at the Full Moon - 1 Long at Full Moon and one extra Long at 3Q Moon, boosting our Long profits to $152.56.
The Lunar Cycle | Carol S. Mull
The Sun and the Moon are in square aspect (90°) during the first and last quarters, in opposition (180°) at the Full Moon, and in conjunction (0°) at the New Moon. They are in sextile (60°) between the New Moon and the first quarter and between the last quarter and the New Moon. For precise work, compute a heliocentric chart for the times that the Moon, Earth, and Sun are in exact aspect. Unless there are other overshadowing influences, trines (120°) and conjunctions will be up, squares will be down, oppositions will be somewhat up, and sextiles can be either direction.
Most financial astrologers will tell you that oppositions (Full Moons) will sent the market down, but my experience does not verify this. Apparently, the momentum of being between two trines will carry the opposition along. If the next aspect following a sextile is a conjunction, the sextile is likely to correlate with an upward movement. But if the aspect following a sextile is a square, the sextile is likely to be accompanied by a downward-moving market.
Another lunar cycle concerns the elements. The market tends to move up whenever the Moon is in an Air [Gemini, Libra, Aquarius] or Fire sign [Aries, Leo, Sagittarius] and to move downward whenever the Moon is in an Earth [Taurus, Virgo, Capricorn] or Water sign [Cancer, Scorpio, Pisces]. Other recent experiments have attempted to be the Moon's velocity and the angular rates of positive acceleration or negative acceleration to the market. These have been inconclusive.
Carol S. Mull (1989) - Mercury and the Dow. In: Traders World, #4915, Issue #15.
Ilia D. Dichev and Troy D. Janes (2003) - Lunar Cycle Effects in Stock Returns
AstroSeek.com (2022) - Monthly Lunation Cycle
AstroSeek.com (2022) - Monthly Astro Calendar
HERE |
HERE |
HERE |
Tuesday, July 26, 2022
Range, 3 Day SMA, Day Counts & Reversal Harbingers
A day in which there is a new high followed by a lower close
is a downwards reversal day (RB). An upwards reversal day is a new low followed by a
higher close. A reversal day by itself is not significant unless it can be put
into context with a larger price pattern, such as a clear trend with sharply
increasing volatility, or a reversal that occurs at the highest or lowest price
of the past few weeks. Short-term reversals are likely after wide-ranging (WR4) and narrow-ranging days (NR4), especially when the open, high, low and close of the daily price bar are altogether above or below of a simple three-day moving average line of daily close prices.
A wide-ranging day is likely to be the result of a price shock, unexpected news, or a breakout in which many orders trigger one another, causing a large increase in volatility. A wide-ranging day could turn out to be a spike or an island reversal. Because very high volatility cannot be sustained, a wide-ranging day will likely be followed by a reversal, or at least a pause. When a wide-ranging day occurs, the direction of the close (if the close is near the high or low) is a strong indication of the continued direction. An outside day (OB) often precedes a reversal. An outside day can also be a wide-ranging day if the volatility is high, but when volatility is low and the size of the bar is slightly longer than the previous bar, it is a weak signal. As with so many other chart patterns, if one day has an unusually small trading range, followed by an outside day of normal volatility, there is very little information in the pattern. Context and selection are important.
Tuesday, July 12, 2022
Playing the Field | Lunar Effects on Mood and Biology
The greatest change in the electric field potential occurs as the moon crosses into and out of the magnetotail plasma, which occurs 2-3 days before the full moon and 3-4 days after the full moon.
Some of the reported effects of the full moon on animal and plant biology: tree diameter variation reflects a lunar rhythm; reproduction; changes in the stress hormone; epileptic seizures and unexpected deaths increase during full moon; increase of violent and acute behavioral disturbances during full moon, etc.