+1 (QE forever is now HERE)

<chirp, chirp, chirp...>

Yet another good piece from KWN.

Currency inflation is a form of deleveraging that offers the illusion of normalcy; asset value deflation is being replaced by monetary instrument deflation. If the base currency is inflated to meet the level of debt, the ratio becomes 1:1 and defaults technically don't occur. End result: artificial shortages of real assets and major social turmoil.

You? Or Cypherdoc?

The distinction vis-a-vis numeraire is a good point to make.  I consider money to be exclusively debt (for now at least, and as long as Bernanke and his managers are defining things) and figure that as long as the debt can be pawned off on someone who will not unload it or require to much by way of interest payments, there is enough flexibility in the system to march along.  To quote Dick Cheney, "Deficits don't matter."

Perhaps trading new debt for various derivatives mis-calculated by the nature of the shell games which define them would help various large institutions with their books and in return they will absorb as much debt as necessary debt at 'favorable' terms?  Since the health of their books are highly dependent on how the laws are written (and/or enforced) and that is the job of the government, the government who needs a sink for the debt is well positioned to sweeten the deal.   So, at the end of the day (or this day at least) I consider myself in the 'inflationist' camp.  Again, though, it is because I ignore all numeraire saved debt instruments (which I assume due more to conventional wisdom than true understanding must continue to grow to stave off collapse.)

That's odd because I think you are in our PM bug's neighborhood, and Cypherdoc is in Bob's neighborhood; you are implying we are all in the same neighborhood.

The very thought that Bob Prechter may live in my neighborhood sends chill down my spine 

We all share one planet.

http://www.youtube.com/watch?v=OtN9YUvh_XM

sunnankar; that was brilliant!

my favorite parts:

1.  "Bitcoin has crawled out of the sludge"  



2.  "you can go extinct if you want"  



you'd better watch out Gold!

Yep, really a great interview.
Thanks Trace  

PS : freebitcoinguide.com doesn't seem to work

not only was sunnankar brilliant, the interviewer was also.  his skepticism was precisely along the lines of the most common questioning put forward by hardened gold bugs and suspicious Bitcoin skeptics; what if the gov't attacks it, who backs it, who profits from the introduction of new coins, can my grandmother use it?  sunnankar not only handled those questions well but turned the answers into a veiled threat; you should be afraid of missing out.  i think that was the lawyer coming out of him.

we need to get sunnankar on Capital Account with Lauren Lyster.  he might actually like her too, being of similar age.  

"Bitcoin arising out of the primordial sludge."  Lol!

LOL!