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Jason Ditz, news editor at Antiwar.com, discusses his article “ISIS and the End of Cash: How the war on terror became a war on real money,” as government officials get serious about eliminating the $100 bill – and then maybe all other physical currency as well.

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discussions

  • It appears to me that one of the biggest drawbacks to the current model of cryptocurrencies is the lack of reversibility in transactions. Historically, third parties such as banks have enabled transactions to be reversed, such as refunds or guaranteeing purchases. I think that if cryptocurrencies want to avoid third parties as much as possible, they should adopt a method for reversing transactions for the purpose of dispute resolution. Thoughts?

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  • Hello, I’ve become quite keen on Jeffrey Rogers Hummel views on inflation. https://fee.org/articles/governments-diminishing-benefits-from-inflation/ That governments don’t get as much cash money as they used to from Seigniorage(money printing)…becuase of some details of the modern banking system. Hummels view is that the US Gov is more likely to actually default on it’s bonds than print it’s way out of it’s financial problems as so many of us libertairans often predict. Any way…. how are people actually calculating the revenue states are getting from seigniorage? There is constant mention to specific statistics in his works on what revenue governments make from printing money…but how are economists attempting to calculate this so exactly? “Almost none of the developed countries could boast seigniorage amounting to more than 1 percent of GDP, despite the fact that the study incorporated the inflationary years of the 1970s. Joseph H. Haslag’s smaller sample of 67 countries over a longer period, 1965 to 1994, finds that seigniorage averaged about 2 percent of total output for the entire sample, ranging from as low as 0.25 percent to as high as 9.98 percent (for Ghana).” However, I’m not smart enough to figure out how this is being calculated? When I Google — I see Seignoarge defined as the cost to money vs what the money is worth. (if it costs 1cent to print a dollar bill than Seigorage is 99cents). Pennies have negative seigniorage — cost the Gov more to mint than 1 cent.) But for the point Hummel is making it seems like a more sophisticated calculation? How did people figure out that for example in WW2 seignorage was 6%? Perhaps this is rather obvious? Thanks! –Luke

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  • How do you think a non-aggressionist should think about what is happening in the Ukraine?

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  • The Drone Papers The Intercept has obtained a cache of secret documents detailing the inner workings of the U.S. military’s assassination program in Afghanistan, Yemen, and Somalia. The documents, provided by a whistleblower, offer an unprecedented glimpse into Obama’s drone wars.

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  • Hey All, We will be having an #AntiwarHaiku contest this holiday season to show our support for peace and Antiwar.com. We will announce the full details and prizes on Monday the 16th and the contest will run until the 16th of December. An email address will be used for official entry but simply use the hashtag #AntiwarHaiku to have your entry seen and shared on twitter. Look for the full details on BitcoinNotBombs.com on Monday. Peace! ~Drew

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