Has the cost of HiFi gotten a bit too much?

Very great observations and particularly these:

on the subject of banks- society needs normalization and consistency- or it is a free for all. No question things can favor the elites. But even the poorest have benefitted. I am living proof

But now we lived through the passage to a single power and a single monetary and financial systems to many powers geopolitically and to some UNKNOWN money and financial revolutions to come...

Incertain time indeed...

This is why it is a time where we look for a new balance between what is normal and consistent and what appears to be abnormal to some "conspirationists nuts" or to some  "enligtened thinkers " also, like a cancer, an abnormal growth which some others "sane" but sometimes superficial observers want to continue to call perfectly "normal" state ....

In a crisis there is no more fluent  consistency between states of the system  ...The crisis is the  gradual lost of the habitual equilibrium norm and consistency...

At the end of Rome, the romans lost their consistency and equilibrium of power between the senate way  and the emperor way before barbarian incursions...This apply today...In banking and finance also and geopolitically alike...

A world famine now lurk at the horizon, a famine which is an artificial creation by the  immaturity of humankind...

What is a poor? Someone who cannot eat or drink or work ...

For some years now the poors whom habit the world benefit less and less in this crisis time... An articicial inducely created crisis not by a global conspiration, but by the stupidity of a multiple numbers of egoistic conspirations like a serpent raise his head ...

Between chaos and a global totalitarian control, i wanted true democracy free from corporate lobbying of all kind... We dont have it in Canada at all, now less than ever...

And i dont see it anywhere now....Even the appearence of democracy are losing more and more ...Only subsist  some degree of totalitarian fascism around the world...Fascism being a collusion between the corporations and  state...

Mahjister, normalcy and consistency do not necessarily mean “ never changing”. Things can clearly get out of balance and require corrections. Full disclosure- I fear the uber-wealthy may fight against recalibration- but haven’t they always? As long as the masses can organize their collective thoughts and mobilize for change it can happen. 

We think the same...

In a time crisis, there is no more a natural reequilibration of forces, this is why it is called a crisis......

For a rare moment in time history we live through multiple crisis at the same time on different level...

For example in the last two world wars there was no global climate change problems at the same time, or an acute global economical crisis world wide at the same time and a sudden INCREASING of a global scale of the wide disparities of income between people, and no gobal water crisis at the same time, no global energy crisis at the same time , and no global agricultural landmasses lost by destruction of the soil at the same time etc ....No decreasing conservation of the natural untouched part of the earth like antartica, the tropical forests, etc

And the irrationality of our banking system and money conception was NOT SO MUCH EVIDENT at this time either ...Now it is evident for all people not only for a few economists and is a part of the global crisis...There is also a global lost of confidence and trust crisis...Religions did not play anymore the same role and cannot by itself alone maintain the "sanity " of the mass or keep them in some controlled state...

For example between 1900 and 1960 there was a decreasing in poverty world wide... This trend was maintained stable after that for some deecades... Now it is the reverse there is an increasing poverty...And the reason are multiple... This is the occurrence of this many problems at all levels that constituted the crisis...

Man is deracinated from the tree of life, it is now only a machine whose parts we can recreate or sell....It is also a part of the global crisis...Transhumanism is a symptom of the excessive pride of some part of the " elite" of humanity, the rich one for sure, a new specialized cult for the lucky few...

There was a general improvement on many count in the last century, yes, in spite of all obstacles, but it is on a halt now, it is why it is called a global crisis....

Gates think we are too much people, i think that the disparity between poor and rich is the world problem, not demography itself... With education demography is no more a problem....Then instead of global vaccination it is perhaps better to pay for bread and water and education...But it does not give any return profit for sure to the "benefactor"...

I am optimist for AFTER this passing testing crisis for humanity....I am not optimist for now.... 😁😊

Mahjister, normalcy and consistency do not necessarily mean “ never changing”. Things can clearly get out of balance and require corrections. Full disclosure- I fear the uber-wealthy may fight against recalibration- but haven’t they always? As long as the masses can organize their collective thoughts and mobilize for change it can happen.

@mahgister The youtube link featuring Geoffrey Bloom is a good example of why a little bit of knowledge is dangerous. Fractional reserve banking is a given and serves society exceptionally well, but it is not criminal.

In many Western countries central banks are not part of the political system - they are deliberately independent. When politicians or their advisors of any political persuasion seek to meddle, they get a Will Smith slap.

Donald Trump attempted to in his early days of Presidency, and more recently Janet Yellen as head honcho of Treasury - her comments were swiftly deleted from the record.

Quantitative easing is was often called unconventional policy, but it is not counterfeiting nor is it criminal. It is central banks buying bonds in the open market.

Central banks charters specifically direct them to manage interest rates through a variety of methods - it is not manipulation, although I can understand why some may draw that conclusion. It is rare that a central bank anticipates - they normally follow what has already happened in the economy.

Certain individuals in the retail banking sector did manipulate LIBOR, and that was criminal and they knew it. To extrapolate that conduct to those tasked with setting interest rates is incorrect.

Moral hazard is a real issue as was demonstrated in the global financial crisis, but it has more to do not with retail guarantees (he was confusing different issues) but with the private institutional bankers knowing that they will be bailed out with a slap should things go awry, or if not, jail is only a very remote possibility.   This was a combination of government policy and what was known as the "Greenspan put" in a more general macro sense.  That may be googled.

And he begins with "you do not understand the concept of banking" - what follows is a fine example of an embarrassing non sequitur.

@ghdprentice + 1