How to default for dummies

Grexit 4.0? Varoufakis Urges Tsipras: Ditch Negotiations, Adopt "Parallel System"

Prof V former finance guy for the Greece. Greece is at he rollover crisis again, prof V has a smooth transfer and default to different currency system. I have not read the details.

I say, anything, at this point, will come with some form of multi-currency cash card. With or without the letter to mommy, the new currencies will be digital first, paper second.

In this environment, we can still run the trading pit that forces amortization from invented money.

How can we design the trade?

Greek bonds up for default are on the queue and payments are made by the greeks on interest due. Otherwise, whenever the greeks put up sufficient cash, some part of the bonds is amortized with assistance from invented euro.  So the greeks keep cash on account, mostly half filling the containers.  Whenever they see the chance, go grab the do-re-me, dump it on account, and let the default machine go into action. The probability of a greek deposit mostly matching the probabilility of a subsidized amortization payment.

Inflation is directly euro wide.But it is only fair after everyone has the same cash card and can auto trade,because we are giving the greeks government a hedge. Prof V is stuck, he cannot go dividing the world into segmented currencies. But we can make bond defaulting work, and keep the euro.  What the Prof does get right is multi-currency.   The euro will be sharing space, spending some of its currency monopoly on defaults.

Seeing heavy plastic bags tossed in California

The plastic bag law is in effect, you pay 10 cents or b rig your own bag.  

Nice bags, as the retailers use the 10 cents to upgrade quality. The retailers treat it as another stock.  But the price is fixed, low, so the quality goes up, they are heavier, better bags.  But we little browns are not yet trained to bring a bag to the store. Hence we get a small collection of nice bags, at home, and start tossing excess bags out. Right now, the total plastic exiting the system as garbage has increased, slightly.

I take up Putin;s defense

First, he maintains a balanced budget. Second, unlike California he does not have racist law. He has not carpet bombed 2.4 million rice farmers, nor has he bankrupted Detroit and Chicago, those war crimes we all Democrats.  Unlike McCain, he has not laid his country with an infinite recurring loss due to bogus military spending.  His oligarch rule is no different than having banksters manage the senators to avoid federal bankruptcy.

Right after the debt fueled school construction wave

Rising pension costs threaten California school funding

In a shock critics had warned against, Golden State schools discovered that their nation’s largest pension system, CalPERS, was on track to force substantial budgetary cutbacks on core education spending. “Public schools around California are bracing for a crisis driven by skyrocketing worker pension costs that are expected to force districts to divert billions of dollars from classrooms into retirement accounts, education officials said,” the San Francisco Chronicle reported. “The depth of the funding gap became clear to district leaders when they returned from the holiday break: What they contribute to the California Public Employees’ Retirement System, known as CalPERS, will likely double within six years, according to state estimates.”

They managed to get the debt wave crashing right where I told them to. I should shut up. 

But,but.. a watched pot never boils

JPM: "Turning Points In Market Trends Are Occurring At The Fastest Pace In History"

Great scare news from Zero Hedge, always lots of fun.  

But, we are and have been waiting for this moment, what if all the hedges are in place, and our turning point looks like a barely noticeable series of bumps?  Like crashing softly.

Trump is a fun, and safe president

All the VSP, like Krugman, freak out whrn he prez is blunt and speaks his mind.  

I prefer it, rather than some dufas who thinks pomp and circumstance is necessary to fool the little browns.  Obama was OK, but you always knew he was doing the secret side agenda.  But once you had your three level ring decoder tuned, he was an easy read.

 I like Trump, he skips the magic tricks.  He is not going to run off and go nuking, except maybe Tijuana.

Time is about currency risk insurance.

An economists notes the concept of money over time is unmeasureable:

Chair Yellen also suggests an important role for estimates of medium-run equilibrium real rates. Such estimates are extremely uncertain and sensitive to technical assumptions, and thus should not be used as key determinants of policy stance.

The stayementy comes from a research report on r*, the natural rate of interest.  I use he concept of interest, including natural interest.  Buy I know how the number reallycoes about.

The number is not about time.  Wer estimate the number of events that have to occur in some complete sequence, like building a bridge.  No time involved until we are interested in comparing two sequences, then we index the two sequences according the first to complete.

But no where is time to completion a priceable variable in he economy.  Time, and money over time were invented as a currency risk insurance device, and absolute time is irrelevant.  That is, labo will often privce itself by time, the the hiring agent is pricing lumps of labor by number ogf labor events in construction.  Other than labor, time is only as accurate as needed to indexd comparable sequences.  That is, there is no effort to make time anywhere synchronous, as in bandwidth limited sample rates.  Instead, it is always a index by queues, you can be fourth in line or sixth in line.

Time is about currency risk insurance.

Get a California legal, illegal alienship card

Another Travel Ban: IRS Moves To Revoke Passports For Unpaid Taxes

• Being a universal California citizen, free entitlement paid for by little browns.  
• Your children can have a house, go to school,. while mom and dad are working in Asia, a great tax deal.  
• Then if you are a tax avoider, just move back and forth with the passport of your first citizenship.
• And still, you can vote in federal elections, be sure and unshow your voter card.

It was a ban against nations that had already killed off the Christians

Boston Judge Unblocks Trump Travel Ban, Asks "Where Does It Say Muslim Countries?"

But have no fear you McCarthy liberals, we can find someplace where christians are left to kill.  In the mean time, you stalinists can go to Berzerkely and demand censorship.

That was the 2014 secession plot

Info Wars: California’s voter registration system is “highly susceptible to being compromised,” because of immigration policies protecting the Golden State’s 2.4 million illegal immigrants, authorities have told Fox News.The integrity of elections may be compromised by a lack of oversight of non-citizens registering and voting, said Hans von Spakovsky, manager of the Election Law Reform Initiative and senior legal fellow for the Institute for Constitutional Government at The Heritage Foundation.“If you are talking about California, the state is apparently relying on the illegal alien to tell the state they shouldn’t be registered. There is still an honor system,” said von Spakovsky, co-author of the book “Who’s Counting? How Fraudsters and Bureaucrats Put Your Vote at Risk.”The problem with California is there is no separate verification of citizenship on voter registration, said Charles Bell, Jr., a partner with California-based Bell, McAndrews & Hiltachk, LLP, a law firm that specializes in election law. Applicants can check a box affirming they are citizens, and this is not checked against any other government database such as federal immigration records.

Nancy and Jerry were all hot on the plan to secede in 2014. Allowing free unencumbered world wide voting in us election was actually the law, clearly stated, enunciated and approved by voters. California no longer has any federal responsibilities.