August 2022 - cypherpunks - lists.cpunks.org

Gunnar Donald Arthur Peter Larson
by Gunnar Larson 19 Aug '22

19 Aug '22

You know, when your legal name is "Gunnar Donald Arthur Peter Larson" ... One day, you realize you have 'Donald' and 'Peter' in there. Gunnar Donald Arthur Peter Larson obviously finds the whole xNY.io - Bank.org project an organic evolution.

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xNY.io - Whitepaper
by Gunnar Larson 19 Aug '22

19 Aug '22

People should revisit the xNY.io Whitepaper: https://xny.io/whitepaper Yes, sure, the Bitcoin Whitepaper is famous too...

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Spirit of 96
by professor rat 18 Aug '22

18 Aug '22

1996 - Cypherpunks direct-action defense of privacy begins in earnest - 1996 now over a quarter-of-a-century ago. https://www.wired.com/1999/04/free-speech-on-trial-in-tacoma/ ‘You can fuck some of the people all of the time, and all of the people some of the time, but you are going to end up in a body bag or a pine box before you manage to fuck all of the people all of the time.’ Hero of the revolution - Carl Johnson

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Jesus
by professor rat 18 Aug '22

18 Aug '22

Firstly there is more evidence for Hercules than any " Jesus " from 2k years ago. Second - this bs ' Jesus " as described, reportedly said " Render unto Caesar what is Caesar's " Statists like this can't complain when justice is served following their terrorist attack on some coin-mixers. Ecce homo. It would be better such a man was never born. Finally and in related news . . . Mussolini was Catholic. Franco was Catholic. Himmler, head of the SS, was a Catholic. The SS was set up on the Jesuit model. Goebbels was Catholic. Hoss, the camp commandant of Auschwitz, was a Catholic. Frank,‘ the Butcher of Poland ’, was Catholic.

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Fusion ignition reported as a first - paves way for color-conductive, ansible pixels
by professor rat 18 Aug '22

18 Aug '22

APster assassinphone designers have long theorized a black-and-white TV-style Ansible based on Bose-Einstein-Condensate for black and color-conductive, for white ' pixels '. Though the engineering problems of bringing the very hot and the very cold together in a working device remain formidable at least some experimental progress is being made. Vorwarts!

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They shared a hotel room during a work trip. Then they fell in love.
by Gunnar Larson 18 Aug '22

18 Aug '22

Breaking news from CNN Travel: The coworkers who fell in love when they shared a hotel room https://www.cnn.com/travel/article/chance-encounters-norwegian-hotel-cowork…

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Re: Cryptocurrency: Buterin Admits Ethereum Will Censor
by professor rat 18 Aug '22

18 Aug '22

Popgun Larceny scribbled . . . " . . . Ms. Manning. Bradley would be treated worse in Chelsea than military prison. . . " If there's any justice

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Sibyl disobedience
by professor rat 18 Aug '22

18 Aug '22

malekanoms ·Aug 13 I can’t believe I have to say this, but any #DeFi protocol that bans addresses that have interacted with @TornadoCash is opening itself to an obvious attack of someone sending big users dust from Tornado. Now borrowed can’t repay loans or top off collateral, leading to a bank run Omid Malekan @malekanoms Aug 13 I understand the overreaction to an absurd overreach by OFAC, but don’t destroy your protocol before we have more clarity.

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Cryptocurrency: Buterin Admits Ethereum Will Censor
by professor rat 18 Aug '22

18 Aug '22

Huge if true. I'm shocked - SHOCKED! that any Butthead who once advocated for Holocratic Futarchy with Quadrophrenic voting ( basically anarchism in Thiel-good drag ) could stoop so low. This Buttfaced Kochsucker is not a libertarian's cyberpunk these days. He also hasn't bought any license to kill Tyler Cowan yet. So he can take his sugar-daddy flunkies and dangle.

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Cryptocurrency: Nixon Bans Conversion Between Fiat and Gold
by grarpamp 18 Aug '22

18 Aug '22

https://news.bitcoin.com/crypto-community-responds-to-tornado-cash-sanction… Imagine a small group of people thinking they have the right to tell everyone else that they aren’t allowed to have any financial privacy. Imagine almost everyone else believing them. An Inauspicious Anniversary: Nixon Slams Shut The Gold Window https://schiffgold.com/commentaries/an-inauspicious-anniversary-nixon-slams… https://www.youtube.com/watch?v=7_Xw5tWsOQo https://twitter.com/saylor/status/1559613649865654275 https://www.presidency.ucsb.edu/documents/executive-order-6102-requiring-go… https://www.officialdata.org/us/inflation/1971?amount=1 https://internationalman.com/articles/how-inflation-destroys-civilization/ https://schiffgold.com/commentaries/the-us-governments-spending-addiction-i… https://www.forbes.com/sites/greatspeculations/2021/01/25/the-gold-standard… https://mises.org/blog/jim-grant-explains-gold-standard Fifty-one years ago this week, President Richard Nixon slammed shut the “gold window” and eliminated the last vestige of the gold standard. Nixon ordered Treasury Secretary John Connally to uncouple gold from its fixed $35 price and suspended the ability of foreign banks to directly exchange dollars for gold. During a national television address, on Aug. 15, 1971, Nixon promised the action would be temporary in order to “defend the dollar against the speculators,” but this turned out to be a lie. The president’s move permanently and completely severed the dollar from gold and turned it into a pure fiat currency. The First Steps Toward Fiat Nixon’s order was the end of a path off the gold standard that started during President Franklin D. Roosevelt’s administration. June 5, 1933, marked the beginning of a slow death of the dollar when Congress enacted a joint resolution erasing the right of creditors in the United States to demand payment in gold. The move was the culmination of other actions taken by Roosevelt that year. In March 1933, the president prohibited banks from paying out or exporting gold, and in April of that same year, Roosevelt signed Executive Order 6102. It was touted as a measure to stop hoarding, but was, in reality, a massive confiscation scheme. The order required private citizens, partnerships, associations and corporations to turn in all but small amounts of gold to the Federal Reserve at an exchange rate of $20.67 per ounce. In 1934, the government’s fixed price for gold was increased to $35 per ounce. This effectively increased the value of gold on the Federal Reserve’s balance sheet by 69%. The reason behind Roosevelt’s executive order and the congressional joint resolution was to remove constraints on inflating the money supply. The Federal Reserve Act required all Federal Reserve notes have 40% gold backing. But the Fed was low on gold and up against the limit. By increasing its gold stores through the confiscation of private gold holdings, and declaring a higher exchange rate, the Fed could circulate more notes. Nixon’s Final Blow While American citizens were legally prohibited from redeeming dollars for gold, foreign governments maintained that privilege. In the 1960s, the Federal Reserve initiated an inflationary monetary policy to help monetize massive government spending for the Vietnam War and Pres. Lyndon Johnson’s “Great Society.” With the dollar losing value due to these inflationary policies, foreign governments began to redeem dollars for gold. This is exactly how a gold standard is supposed to work. It puts limits on the amount the money supply can grow and constrains the government’s ability to spend. If the government “prints” too much money, other countries will begin to redeem the devaluing currency for gold. This is what was happening in the 1960s. As gold flowed out of the US Treasury, concern grew that the country’s gold holdings could be completely depleted. Instead of insisting on fiscal and monetary discipline, Nixon simply severed the dollar from its last ties to gold, allowing the central bank to inflate the money supply without restraint. Consequences When he announced the closing of the gold window, Nixon said, “Let me lay to rest the bugaboo of what is called devaluation,” and promised, “your dollar will be worth just as much as it is today.” This was also a lie. The dollar has lost more than 85% of its value since Nixon’s fateful decision, based on the CPI calculator. The purchasing power of a 1971 dollar is equal to less than 14 cents today. Meanwhile, the dollar value of gold has gone from $35 an ounce to just under $1,800 an ounce today. In percentage terms, that’s a 4,970% increase. Investment analyst Nick Giambruno said this was an entirely predictable consequence of the US abandoning sound money. By every measure—including stagnating wages and rising costs—things have been going downhill for the American middle class since the early 1970s. August 15, 1971, to be exact. This is the date President Nixon killed the last remnants of the gold standard. Since then, the dollar has been a pure fiat currency. This allows the Fed to print as many dollars as it pleases. And—without the discipline imposed by some form of a gold standard—it does precisely that. The U.S money supply has exploded 2,106 percent higher since 1971. The rejection of sound money is the primary reason inflation has eaten up wage growth since the early 1970s—and the primary reason the cost of living has exploded.” Another consequence has been an enormous national debt that continues to grow at a staggering pace. Most people don’t realize it, but this is a direct and intentional result of the current fiat money system. Dollar devaluation is considered an acceptable tradeoff because a free-floating currency is exactly what the government needed. It would be impossible to fund the American welfare and warfare state with a currency constrained by gold. With the dollar untethered from any fixed standard, Uncle Sam could create as many dollars as it pleased in order to fund all of its massive social and military programs. With a free-floating fiat currency, the US government can borrow as much money as it needs, knowing that the central bank will always be there to monetize the debt and backstock the spending. And that’s exactly what has happened. As Frank Holmes put it in an article published by Forbes, “there’s been a significant and growing lack of discipline when it comes to government spending,” since Nixon’s fateful act. Before 1971, there was a natural limit to how much money could be printed. New issuances were dependent on the amount of gold sitting in the nation’s coffers. Today, with the dollar backed not by a hard asset but by the ‘full faith and credit’ of the US government, the federal debt is closing in on an astronomical $28 trillion, which is more than 130% of the size of the US economy.” To put this into perspective, in 1960, the national debt was just a little over half the size of the US economy. This is exactly what politicians like Nixon, Ford, Carter, Reagan, Bush I, Clinton, Bush II, Obama, Trump and Biden wanted — the ability to spend without restraint and grow government with no limits. The result: massive national debt and devalued currency that buys the average person less and less every year. As Ryan McMaken summed up in an article on the Mises Wire: Nixon yearned to be free of this restraint so he could spend dollars more freely, and not have to worry about their value in gold. Nixon’s move was, in short, the final and total politicization on money itself.” For most people, this anniversary will pass unnoticed. But it should be a day that lives in infamy. Peter Schiff produced a video last year for the 50th Anniversary of Nixon closing the gold window that details more of the lies and consequences.

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