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Showing posts from July, 2020

The Counter-Economics of COVID

In March 2020 - some say earlier, but by March 2020 at latest - the banking had sector collapsed. In response, coronavirus was manufactured as a scapegoat to justify the liquidity injection necessary to keep the Federal Reserve’s ponzi scheme alive. The State’s narrative would henceforth be: ‘Since all businesses were shut down, an unprecedented amount of money must be printed and distributed to the public.’ Milton Friedman’s helicopter money had come to fruition. But like a junkie chasing his initial high, the Fed had become immune to the effects of monetary stimulus. Each injection requiring a stronger, more potent dose of cheap & easy money. Less than two years later, and the effects of that stimulus have now waned & the banksters are poised to pull off another heist. As the business cycle continues to ebb and flow until the day of final reckoning, the State can be expected to behave in an increasingly erratic fashion. Like a cornered cat, or a fish out of water, the State

Minecraft Economics: How the Nether Update uses the Subjective Theory of Value

What is an emerald worth in Minecraft? An emerald is the currency used in the popular game Minecraft for trading with NPCs called villagers and wandering traders. Emerald ore is an extremely rare resource in the sandbox world, yet every employed villager has quite a few to trade with the player. However, players have wondered how the emerald compares with real world currency. One YouTube Video by GameTheory tried to find this answer. First, they tried to convert it by comparing the USD cost of bread with the cost of bread in the game, but found that conversion does not translate to other goods. Next they used the labor theory of value to try to determine the USD to emerald conversion, but again came up with a nonsensical conversion. Finally, they tried to assume emeralds have an inherent value in real life and work backwards to determine the in-game USD cost. After using all of these methods, they come to the accurate conclusion that it's not really possible to convert