Robert Shiller on Bitcoin and Bimetallism
Schiller and his narrative theory is a bogus license to make shit up. So we have Wright ripping int the guy, well deserved.
Make shit up economics is all about the economists getting a job, making shit up, frankly. Since the the only thing that motivates is making shit up, a good economists makes shit up; is how the story goes.
Ignore Shiller, has has added little to the debate. except a bunch of make shit up stuff.
Bitcoin is not a narrative, it is a routing protocol, generally from Yuan to dollars, but other paths are used with it. For the dumbshits like Shiller let me explain hos it works. It is like a long tube, you put yuan in one end and take dollars out the other.
So economists need get off this idea that they have some philosophical test about money, and it is difficult knowledge. Economists have a 300 year history of messing up banking theory and they cannot improve themselves. There fundamental problem is they have no sense of what a liquidity allocation is, there is no equilibriating theory in their schooling or history that gives them a clue about how this works. It is a queue optimization problem. A long tube, go in one end, come out the other.
Bitcoin is not a narrative, it is a routing protocol, generally from Yuan to dollars, but other paths are used with it. For the dumbshits like Shiller let me explain hos it works. It is like a long tube, you put yuan in one end and take dollars out the other.
So economists need get off this idea that they have some philosophical test about money, and it is difficult knowledge. Economists have a 300 year history of messing up banking theory and they cannot improve themselves. There fundamental problem is they have no sense of what a liquidity allocation is, there is no equilibriating theory in their schooling or history that gives them a clue about how this works. It is a queue optimization problem. A long tube, go in one end, come out the other.
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