"Fiat currencies, guided by well-managed central authorities, unlock a society’s productive potential—aligning labor and resources to meet social needs. Taxes may not be needed to fund expenditures but have other uses. Cryptocurrencies, lacking centralized oversight, cannot deliver these benefits."

The sun leaves, the night comes:
Musk arrives at dusk

Cockamamie Burden of Proof
There’s a huge army of giant yellow Canaries on the far side of Mars that we cannot see. They are running, wing to wing, in an easterly direction. Their thudding claws use the planet as a treadmill but all we can notice is that Mars is turning on its axis. Prove me wrong.

After Plankalkül, came 80 years of evolution using Autocoder, Fortran, Lisp, Algol, Basic, PL/I, Simula 67, Pascal, C, Prolog, Smalltalk, Ada, PostScript, Objective-C, Perl, Haskell, Python, Visual Basic, Java, JavaScript, Ruby and Rust, to name a few. What can one say about smart contracts? ‘Huh?

Why are dodecagonal wheels superior to circular ones? Just because they have added cryptography? Don't bank on that.

This linguistic inflation around blockchain reflects a pattern of over-promising and over-complicating what is, at its core, just a particular way of structuring and validating data.
'Distributed Relational Database Technology' was never a thing. 'Distributed Relational Database' was good enough.

Using interest rates to affect loan creation is like trying to get an elephant to move by poking it with a flexible length of garden hose.

Back in 2015 the Media produced this gem.

The quality has only fallen since.

I'm trying to put my finger on what's happening with this great capitulation to Trump -- ABC News, Chris Wray, the Democrats signing up to work with DOGE, Mark Benioff, etc. It's like you can feel the air going out of an entire social order.

Cabinet positions are like scales on the back of a tortoise. The tortoise walks on.

Apropos of nothing, I'm really bummed out to discover that Winner's love song of the American Civil War, "Carry Me Back to Tennessee", is thought to have been introduced to South Africa by Americans working there, and to have greatly influenced the well-known Afrikaans song Sarie Marais. So it goes.

The Song Dynasty pioneered the use of paper 'jiaozi', the first fiat currency. The word jiaozi sounds like two words that mean 'exchange' and 'midnight', which symbolizes the change from the old to the new. Today 'jiaozi' is also a Chinese dumpling, often containing a coin, a blessing for wealth.

Both cathedrals and hospitals are positioned at the center of life's most profound moments - birth, death, suffering, and healing. Both provide comfort in crisis, and both face criticism for monetizing human vulnerability.

Modern hospitals have become our secular cathedrals - their soaring atriums adorned with Chihuli glass, their hushed corridors inspiring the same reverence as medieval naves. Like churches, they command both awe and tribute, with medical bills replacing church tithes as the price of salvation.

Download codes are the only true commodity-backed crypto currency, their value pegged to a globally recognized artform that has been in continuous use for over 40,000 years.

Thursday's blog post (05/12) is now posted (17:42 EAST) - The concept of degrowth remains underspecified - reform or revolution? - billmitchell.org/blog/?p=62231 #mmt

ai stabilises the current world order, or worse, its current trajectory, or even worse its acceleration.
capitalism in autopilot

Is congress not a centralized collection of decentralized decision makers? How's that going?