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To: TobagoJack who wrote (5980)	7/18/2001 12:50:23 PM
From: Ilaine	Read Replies (3) \| Respond to of 74559

Jay - you left out the guys who can 1. Work out currency exchange transactions in their head; 2. Work out option strategies in their head; 3. Do 1&2 simultaneously, while eating a sandwich and thinking about sex, or mulling over where to go on vacation. In other words, all the bright boys and girls who should be gainfully employed doing rocket science for NMD here in the US, have been forced to lower themselves and go to work for various financial houses, figuring out how to make synthetic currency out of a combination of puts and calls plus borrowing and lending. That synthetic currency is crackling through huge fiber optic cables, courtesy here in the US of the US Department of Defense which, in its infinite wisdom, decided to build the Internet, and worldwide of the various telecom companies, which decided to commit suicide, apparently. The switches are off-shore banks which may not really have a physical structure, or may only be a virtual representation in cyberspace, but it doesn't really matter. Banks don't need vaults anymore because the money never stays put. Around and around and around the synthetic money goes, at the same time that all the knowledge in the world goes around and around and around, at the command of all the world that knows how to tap in. What no one anticipated is that there is no way to make money when everything is known - you can only profit from discontinuity, from arbitrage, from knowing something no one else knows. And so, with more or less difficulty depending on who you are, we say goodbye to making money from knowing something that the next guy doesn't, and learn to adapt to a world where everything is known. Or learn to know things that someone else doesn't know yet - as always, a very few will be able to do that. But the middlemen are going to get slaughtered until they find a new line of work. By middlemen, I include large corporations, which exist, primarily, to intermediate between inventors and consumers, buying patents dirt cheap and adding little of value, just layers upon layers of vice presidents and HR departments. There's where the earnings are going. Large corporations are going to get slaughtered until they figure out how to ditch the middlemen - now that's going to be a spectacle right up there with the death of the dinosaurs.

To: TobagoJack who wrote (5980)	7/18/2001 6:10:33 PM
From: starhawke	Respond to of 74559

Re: "d. J6P consumers replaced the circuit breakers with a bit of borrowed coins called Debt,..." - I really liked the turn of phrase in the last Credit Bubble Bulletin. "For too many years "coins have been put in the fuse box" instead of addressing serious flaws in U.S. and global financial systems." Noland put it very well IMHO. Sure it gets the lights back on now, but it also vastly increase the chances of your house burning down. S

To: TobagoJack who wrote (5980)	7/18/2001 8:50:20 PM
From: patron_anejo_por_favor	Read Replies (1) \| Respond to of 74559

You forgot the part where: "They took out the wires to the speakers, and replaced them with lit fuses labeled "derivatives"...<G> Very, very funny post! Chugs Patron EDIT: I see where Coby addressed that part later on!<G>

To: TobagoJack who wrote (5980)	9/23/2003 11:04:51 PM
From: elmatador	Read Replies (1) \| Respond to of 74559

<<money is ... electricity>>. I can picture this scheme of modelling, because I understand electrical systems: a. The system was originally designed for 3V 0.25 mAmp power supply, running a pair of speakers Elmat: The circuit board a.k.a Bretton Woods Agreement was designed with coils, transistors and other discrete components. A maintenance team a.k.a G7 would constantly fine tuning, the capacitors, reactors and coils. b. The boss Congress hooked two atomic reactors to the system, code named Fannie and Freddie Elmat: As more and more appliances were connected to the circuits, there was need to increase the A of the system. Overheating? you switch on a small fan, then a small thermostat was added, a few LEDs to warn trouble to the Chief engineers a.k.a FED and central bankers c. Uncle Greenspin removed the surge protectors, code named Monetary Prudence Elmat: It comes to a point when the circuit couldn't cope with the new applainces connected to it, they weren't connect direclty by across a fast blown fuse. Once in a while, every 10 years in the case of LATAM, the fuse melted and caused what is called as debt crisis. d. J6P consumers replaced the circuit breakers with a bit of borrowed coins called Debt, and Elmat: The applainces hard wired to the circuit board, were totally useless, and were no longer useful (like a telex machine, electric type writers) but it was not possible to disconnect them else the cicuit board wouldn't work and they kept running albeit at 35 hours a week or doing pseudo-jobs until they would be 'early retired'. e. DotCom investors replaced the speakers with an atomic bomb, code named Bubble. Elmat: Now the circuit board can't no longer cope, No amount of fine tunning can keep it working. We see the smoke. Feel the heat and the smell of fenolite cause a terrible stench. Throwing away the circuit board ands strauing anew is on the horizon, but some still say that it would be a catastrophe if the circuit board is junked. Now let's see what the thus newly improved system can do. Chugs, Jay