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Down the Memory Hole
Published on July 6, 2014 By Phil Osborn In Politics

I posted the blog below about two weeks back as a prequel to my commentary in my post on the solution for poverty.

"Breaking news!  The world currency exchange bank has announced that things are looking uncomfortably like 2007 all over again.  People are reportedly bidding up "asset bubbles" right and left in a desperate, frenzied attempt to beat the odds and get something - ANY positive return on their money.  A few people at the top of these multitude of instant pyramids jump at the right time and spike the perceived odds, so that the luckless investors are seeing Mandelbrot patterns - Monday quarterbacking - that they don't realize only represent an ellucive past order that can terminate or reverse on a dime.   Lots of luck on that. 

Meanwhile, the VA hospitals are just the tip of the fractal iceberg of out-of-joint, impossible to reconcile, standing mega-accounts derived from the derivative bubbles that caused the 2007 crash.  I've read that the money tied up in those bubbles amounted to more than ten times the entire real wealth of the planet.  You can't just sweep that kind of loot under the rug.  So, keep pretending that things are fine.  At least then you'll have peace up to the end, if you're lucky.  On a positive note, perhaps this is what actually drives the Fermi Paradox.  Every intelligent species goes through this ultimate phase that ends in total, universal bankruptcy, simply a consequence of overwhelming an accounting system that was never constructed to handle ever faster computer trading against other ever-faster systems.  See Rushkoff's "Present Shock."

Imagine that you're a player in a virtual world such  as 2nd Life and you go into debt in Linden Dollars or whatever, a virtual currency that exists only by demand, and that debt acquires a life of its own, as it obligates you to pay it off.  Kill some Orks in a wargame, perhaps.  But suppose you keep going for double or nothing when you realize that you will NEVER pay it off otherwise, and your doubling down has derivative impacts on the value of the currency and all market-linked other currencies.  I suggest that this process could end up with real death contracts or other criminal committments, both real and virtureal and the total destruction of the entire credit system.  Cthulu help us.

Was that fun?  A new intellectual baby, born right here.  A new answer to Fermi.  Don't mind that chalky undertaste in the milk."

In a real hurry that night, I didn't think to include the link, figuring I would do it when next I got back on line.  The link was to the Orange County Register article from which I got the info.  I checked that link via Google at some point and it was good - for a while.  I spent a fair amount of time since then, attempting to relocate that link.  It is apparently gone.  There were a host of other links that came up on the search - mostly gone as well.

This reminds me of the Federal law, passed early on in the Great Depression, that forbids anyone suggesting that the Federal Reserve System could be in danger of collapse.  As far as I know, it's still on the books somewhere, but things do get lost and forgotten.  One other popular example is the "missing 13th Amendment."  I'm not in a position to critique that theory, either, but it seems superficially plausible.

When I posted my piece (above) on the Kurzweilai.net forum, it quickly disappeared.  Instead of my user name, the entry for author read "Kenl" before it disappeared.  I tried posting a 2nd time, this time with references, including the link to the now apparently non-existent "OC Register" article.  Just now, after trying "Cthulu" as a test - perhaps the offending term that got me censored, I tried "kenl" and discovered that a whole raft of people has been having the same problems.  ("Cthulu," BTW, is ok - at least until you start believing... or thinking about Him, or writing about Hi&*%#^$%&EEERRRK)

So, I was later that night on LinkedIn, where I ran accross a related post and commented including the same text, just curious as to what might happen.  LinkedIn would not accept my comment.  No error msg.  Just no response to the post attempts.

And, of course, we KNOW that no reputable organization would jeapardize their creds by deleting posts or controlling who gets what news, right?

However, I finally just now - 4PM PST, July 6, 2014 - found the original source

http://www.nytimes.com/2014/06/30/business/international/central-bankers-issue-strong-warning-on-asset-bubbles.html?partner=rss&emc=rss&_r=0

So, the Register must have run a syndicated version that didn't make it into their on-line - or didn't stay there, anyway.

Meanwhile, the gist of the post remains valid.  If the major world bankers are worried, then of course we should just ignore it and party on, right?

 


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