MONEY: Honest money; not “social justice”

August 4, 2007

How Money Is Created As A Debt By Private Banks – The Money Castaways

Robin Good
Be Smart, Be Independent, Be Good
Edited by: Luigi Canali De Rossi

***Begin Quote***

The story I present to you here today has nothing with to do with web 2.0, new media or how to make money with your site. Today’s story is all about waking up. Realizing that something you have given for good and granted since you were born, may actually deserve some heavy rethinking ASAP.

This is the story of how private banks force most of us into the vicious, enslaving circle, in which you have long been feeling trapped. Working your ass off for six days a week only to be able to pay the rent, the gas, the bills and very little more. If getting a mortgage to buy a house means signing a slavery contract for the rest of your life, maybe THERE IS something deeply wrong with the economics of our system and the way create debt out of money THEY DO NOT OWN.

But you know what fucks us bad?

Our ignorance.

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Now I’ll need a little help here. I’ve sent out the “bat signal” to real Austrian economists. This cartoon doesn’t seem right to me. But, I’m an injineer, not an ekkynonnnymist.

I suspect that it is in the quick way it whizzes by the transformation from bartering goods to creating a fiat currency. But, I think it makes some big leaps to an unsustainable conclusion (i.e., money for social justice).

One must always read extra careful when you see stuff by the “social justice” crowd. They are usually Socialists at best and Communists at worst.

While they will criticize the “banker” in their little morality play, they ignore conveniently that the division of labor made possible by free markets and capitalism. We can support more of us with everyone doing “their thing” in liberty. The free market allows us to peacefully decide who “needs” what and to satisfy those needs in an incredibly complex calculus. Thousands of needs all integrated and aligned to come up with the “best” solution. Markets with prices allow everyone to decide what is best for them. It came about organically from the barter economy. And, is singularly responsible for human progress in that it allows needs to be peacefully satisfied.

Money, whether it be those big wheels of the Yap Islands, the tikis of some other island, or gold coins, makes the world go around. Money allows prices. Prices induce people to change their behavior — forgo, substitute, or conserve. Some need is expensive; maybe it’s a want as opposed to a need. Steak is “too expensive”; eat “cheaper” chicken. Maybe for an expansive good, I can use less. The marketplace automagically aligns all these calculations. Prices allow people to adjust.

I agree with the conclusion about “ignorance”. We’ve become too “smart” for our own good.

When gooferment was given the monopoly over “money” that’s where the dead old white guys made their mistake. And, we have been paying for it since 1913 when the Federal Reserve was created. They should have stood silent on what constituted money and allowed the marketplace to decide.


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LINKEDIN: Facebook IS completely different than LinkedIn

From a posting on Execunet ( that was tuned up and reposted at the “LinkedIn Discussion Index” blog honchoed by Vincent Wright. Vincent created the genre of LinkedIn spin off groups that allowed an interesting segmentation of the LinkedIn community. Here’s my posting about the differences in different social networking site.

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Facebook IS completely different than LinkedIn

I was much amused by all the Facebook versus LinkedIn discussion recently. As I was with the “religious” quality vs quality qauziness (sic craziness). All courtesy of Vincent’s various creations. Of course, as a big fat old turkey, I have lots of DIKW and a few opinions. I wrote this on a pay site for the networking group there and, as a lazy turkey too, I will repurpose it for my blog. But first I’ll drop it here as my inaugural post. I don’t want to reignite religious wars, but I am trying to make the point that just as there are different tools like a hammer, screw driver, and wrench, that start out with different design goals, humans can use their tools in unexpected ways. I personally have used a hammer to keep a reference book open to a certain page, poke a hole clear with a screw driver, and used a wrench to bang a nail. The hammer was holding the book open that said “put nail here”. (Don’t ask it was a bad day!) But seriously, it all starts with the user’s individual goal, then proceeds thru any number of tools, and finally to the results. If the proverbial nail goes in the right spot, who’s to say that the user was wrong.

So with that caveat, let’s dive into the mind of a big fat old turkey thinking about Facebook, as compared to LinkedIn. Bear in mind, that Facebook here is really a specific instance of other social networking sites such as Friendster, MySpace, and all the what I call “near social networking sites”. You know those sites, where they too are bolting on, after the fact, some aspect of social networking.

Here goes. Jumping into a conversation about Facebook as compared to LinkedIn:

I think you have to approach “networking” on Facebook completely differently than LinkedIn. More social! And much more passively. More timeless. And unstructured.

For example, I’m using it to collect as many “alma mater” networking contacts as I can. By that I mean fellow graduates of “my” school, people from past employers, current fellow employees, industry colleagues, and work / home regional granfalloon type contacts. You then proceed to “infiltrate” the target companies where your target position is likely to exists.

Since Facebook aims at a younger demographic, old far … fogeys like me, need to swim gently, being helpful and very non judgmental.

(Posting one sexuality in their profile was the biggest thing I had to “overlook”. Talk about digital dirt! Who knew that all the “hot chicks” from my stogy Catholic College were gay? Or is that defense mechanism. But some of the pictures are borderline NSFW! Can you believe any of the nonsense posted there? Recommend sunglasses and a large supply of NaCl!)

OK, I’m swimming in that “pool”, and remember I have no specific “networking agenda” in mind. I have helped about a dozen people with job leads and resume help. (Seek first to help, then be helped.) And, for example, in the process have acquired one networking contact at a very low level, who is giving me organization announcements for a company in my geography where I’d have a trivial commute. (I could go home for lunch.) Will any thing come of it? Who knows. I have about 100+ new “friends” and bunch of new “fellow alums”. Does it matter? Too soon to tell.

Remember I measure things in decades. My lesson from the Universe on that was a trivial good deed done to an IBM sales engineer 15 years prior snagged me a great job with him as my boss when I needed it. It taught me the value of timeless chronologies. Not everything you plant gives you veggies in 15 minutes. Americans with the “now” mentality have to learn everything comes to fruition in its own time.

Bottom line, that contact had never heard of LinkedIn, and really doesn’t “do the networking thing”.

So you have to become a chameleon. Data, Information, Knowledge, and Wisdom is where you can find it. Here’s some of my whiz-dumb about Facebook, its difference from LinkedIn, and the need to be “flexible” in each social networking instance.

Do I think that I have the pearls of wisdom about LinkedIn, Facebook, or anything else? Sure I do. Even the big fat old turkey has a big fat ego.

I appreciate a new venue to pontificate from, and that VW is an all “right” fellow. Even though he has too much time on his hands to be creating all these genre busting concepts. Due to him, I personally have had to go to the new paradigm store several times for a meme clean out and reload. Maybe he’s a Microsoft Executive in disguise. You know spend lots of time – money – attention to upgrade a perfectly good operating system, just so you can have a new ribbon and lots of old problems. Yup, Vincent, is one of those good kind of trouble makers. The kind that make you think and act differently.

Now if he could just transform me into one of those kids on Facebook, then he’d be impressive. (I wonder if Frau Reinke, my wife, would approve?)

You are, all, of course, welcome to peruse my various and sundry DIKW entries at my various sites. Or, not as you see fit. I don’t have as many as VW has domain names, but then I’m just a poor turkey. Not one of them there domain en-tray-pren-you-ers.

fwiw ymmv faiwwypfi,
the big fat old turkey hisself

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LIBERTY: Wave good bye to the Fourth Amendment

August 6, 2007
Bush Signs Law to Widen Legal Reach for Wiretapping

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WASHINGTON, Aug. 5 — President Bush signed into law on Sunday legislation that broadly expanded the government’s authority to eavesdrop on the international telephone calls and e-mail messages of American citizens without warrants.

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Wave good bye to the Fourth Amendment.

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MONEY: free copy of ETR’s Unscrew Yourself e-book

From the Early To Rise newsletter

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Untangle yourself from all of life’s most perplexing situations, in business, your personal life, or on the road, every time. Just pick up your free copy of ETR’s Unscrew Yourself e-book and get 223 pages of our most practical insider information.

***End Quote***

like “free”. I have no idea if it’s good. But the ETR and its writers always seem to have good advice. And, it’s free.

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MONEY: Social Security: Does it pay to delay? (Part2 — continued)

If you missed Part 1, go here:

It would NOT make a lot of sense to dive right into Part2!


Here’s Vanguard’s table, where they want to urge you to delay taking benefits until you capture the higher benefit. But it ignores how inflation rots your money!

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If you begin collecting Social Security benefits at And your monthly benefit* is By age 75, you will have received By age 80, you will have received By age 85, you will have received By age 90, you will have received
Age 62 $1,200 $187,200 $259,200 $331,200 $403,200
Age 66 $1,600 $172,800 $268,800 $364,800 $460,800
Age 70 $2,200 $132,000 $264,000 $396,000 $528,000

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Able immediately collects 1200 at 62
Baker waits 3 years and collects 1600 at 65
Charlie waits 8 years and collects 2200 at 70

We need to consider that they die in each year until age 90, or elapsed time of 28 years. Then come up with what’s the average impact on their wealth.

We can assume that they will “save” it since premise #1 is if the need it then they would take it and use it.

If we assume that investment returns will sort of match inflation, then we can ignore that factor.

Able at age 62 gets his first check for 1200. Those dollars are different in purchasing power than Charlie’s first check for 2200 eight years later. So we have to do all calculations in constant dollars assuming 5% inflation.

So, in year one, a dollar received is worth 95 cents. In year 30, that dollar is worth 0.226 in constant dollars.

(See spread sheet below as a I run the numbers!)


Stunning as it may sound, in constant dollars, Able is the clear winner. This says that regardless of when they actually die, Able is always a winner.

It highlights another question. What about taxes? Factoring taxes, say 25% on the ½ of ssi payment is that enough to overcome Able’s head start in collecting?

Your comments?

Year Discount Able Baker Charlie
1 1.000 14400
2 0.950 13680 28080 0 0
3 0.903 12346 40426 18240 0
4 0.857 10585 18240 51012 33879 0
5 0.815 8622 15639 59633 46616 0
6 0.774 6671 12738 66305 56472 0
7 0.735 4904 9856 71209 63718 0
8 0.698 3425 7245 18436 74634 68777 18436
9 0.663 2272 5060 12231 76906 72134 30667
10 0.630 1432 3357 7709 78337 74249 38376
11 0.599 857 2116 4615 79195 75516 42991
12 0.569 488 1267 2625 79683 76236 45616
13 0.540 264 720 1419 79946 76626 47035
14 0.513 135 389 728 80081 76826 47763
15 0.488 66 200 355 80147 76923 48118
16 0.463 31 97 165 80178 76968 48283
17 0.440 13 45 72 80191 76988 48355
18 0.418 6 20 30 80197 76996 48385
19 0.397 2 8 12 80199 77000 48397
20 0.377 1 3 5 80200 77001 48402
21 0.358 0 1 2 80200 77001 48403
22 0.341 0 0 1 80200 77001 48404
23 0.324 0 0 0 80200 77002 48404
24 0.307 0 0 0 80200 77002 48404
25 0.292 0 0 0 80200 77002 48404
26 0.277 0 0 0 80200 77002 48404
27 0.264 0 0 0 80200 77002 48404
28 0.250 0 0 0 80200 77002 48404
29 0.238 0 0 0 80200 77002 48404
30 0.226 0 0 0 80200 77002 48404

80200 77002 48404
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Year Discount Able Baker Charlie      

TECH SERVICE: PLAXO3 first impressions not very good!

(1) It has lost my connections that if I switch to Plaxo2 are there all fine.

(2) It forces me to go to the connections screen to switch back to Plaxo2

(3) The switch from 3 to 2 seems to take forever.

(4) An email to get some support for a paid account doesn’t get answered

(5) It seems to be forcing me to invest time with a new product that I didn’t volunteer to do. I have other things I’d rather be doing than testing their crap!


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