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Anti-Concepts in Money | Keith Weiner 

Ayn Rand Centre UK
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This talk was recorded on August 13th.
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9 сен 2023

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Комментарии : 46   
@shrkfmrdr
@shrkfmrdr 10 месяцев назад
Keith is great
@luckyyewlandscaping5560
@luckyyewlandscaping5560 10 месяцев назад
Insanely high level content
@tomfiedler2390
@tomfiedler2390 10 месяцев назад
Inflation = Counterfeiting credit. Well said Dr. Weiner!😳The Federal Reserve Act of 1913 was not merely a delegation, but was an abrogation of the Congressional/Legislative duty to coin money and set the value thereof to the Federal Reserve (banking cartel). I would say fiat currency = counterfeit credit. In 1792 money was gold and silver metals - money could be coined , but only a substitute (exchangeable evidence of metallic debt) for money could be printed.
@RolandKovacs68
@RolandKovacs68 Месяц назад
I see a lot of flaws in the concepts presented, but still applaud Keith for having the courage to come forward with them. Well done.
@PoLanka65
@PoLanka65 10 месяцев назад
Thanks for uploading this. It really helped me open my eyes.
@Gold_Silver.
@Gold_Silver. 6 месяцев назад
Keith Weiner the 🐐 of economics. #Gold & #Silver to the 🌕 baby
@kmeisenbach1
@kmeisenbach1 10 месяцев назад
Wow. Let me post again what a great presentation this was. Thank you my friend! Very motivating seeing all the work you have accomplished.
@Avidcomp
@Avidcomp 10 месяцев назад
Please upload the Q&A. This was great!
@ominousparallel3854
@ominousparallel3854 5 месяцев назад
Very insightful
@kmeisenbach1
@kmeisenbach1 10 месяцев назад
Excellent video, content and and production - using the visuals edited after the fact to reinforce the message (versus seeing some low level production visuals)
@cloudiermonk
@cloudiermonk 10 месяцев назад
Great!
@dwaindibley4137
@dwaindibley4137 Месяц назад
Genus = Medium of Exchange Differentia = Unit of Account Money is defined by its function, not its material construct.
@RayceJacobson
@RayceJacobson 6 месяцев назад
A more accurate alternative to the gdp calculation could be Investment - (Consumption + Government Expenditure) + (Exports - Imports). It would use the same data but it would show the actual increase in national wealth accumulation.
@arielasraf2368
@arielasraf2368 10 месяцев назад
Very interesting
@Sitchinte
@Sitchinte 5 месяцев назад
Smart guy
@geekonomist
@geekonomist 5 месяцев назад
Boyles law does in fact compare Pressure times Volume (Force per unit area times distance times distance times distance) with Number of moles times Temperature. These are completely incomparable units set right by a coefficient. Therefore according to Keith, this equation is worse than wrong. Except of course for the fact that it is the basis of chemical engineering. I am not a fan of the keynesians, but it can be that for price stability, a mass of gold (money) could be held in proportion to a yearly flow of goods by a coefficient. One can imagine a circumstance in which the number of redeemable claims against a relatively stable supply of gold becomes the obsession of those who have many such claims themselves, and as such, are worried about the currency supply, ie inflation. And because of the conceptual mistakes of the era, they confuse the term currency supply with money supply.
@edjobkarjr.7650
@edjobkarjr.7650 10 месяцев назад
Keith said “bloody” lol; no American says that word in that context 😂
@drstrangelove09
@drstrangelove09 10 месяцев назад
Very good! ... What would Jim Brown say?
@Castle3179
@Castle3179 7 месяцев назад
Money as the generally accepted medium of exchange vs. money as the most marketable commodity/good considering what the state does to increase acceptance and marketability of dollars is the same thing, I don't think there is a difference in context between acceptance and marketability. Medium of exchange is clearly a shorthand for, thing that is traded for other things(marketable good). It comes as kinda a stretch to call it an anticoncept. Though the most marketable good sounds better, and I will use it from now on.
@AltumNovo
@AltumNovo 10 месяцев назад
Marketability is also begging the question, what makes something marketable
@TeaParty1776
@TeaParty1776 10 месяцев назад
Peoples choices to trade, eg, gold, pet rocks...
@luckyyewlandscaping5560
@luckyyewlandscaping5560 8 месяцев назад
Do you really need to ask what makes gold more marketable than oil, wheat, or cotton?
@TeaParty1776
@TeaParty1776 8 месяцев назад
@@luckyyewlandscaping5560 US schools indoctrinate, not educate.
@TeaParty1776
@TeaParty1776 8 месяцев назад
@@luckyyewlandscaping5560 If chickens were money, how would you pay 1.5 chickens? It could get messy....
@luckyyewlandscaping5560
@luckyyewlandscaping5560 8 месяцев назад
@@TeaParty1776 there is a reason why chickens aren't the most marketable good lol
@Bob-kl3es
@Bob-kl3es Месяц назад
Sorry but archers new about archs 20000 years ago.
@jeffbguarino
@jeffbguarino 10 месяцев назад
This fellow is wrong about speed. Speed is the change of distance per unit of time. Yes but time is defined by speed. The speed of the second hand is circling the clock. If you speed up the clock then use that to measure speed then the velocity will decrease. So it is still circular reasoning. You can never get away from circular reasoning in almost any concept you can talk about. Take the color red. Read the dictionary. How can a dictionary possibly explain the color. It can't. They can actually put the color in the dictionary but that won't help a blind man understand it. Thus words alone cannot explain anything.
@matthewstroud4294
@matthewstroud4294 10 месяцев назад
How would you know you are speeding up the clock?
@jeffbguarino
@jeffbguarino 10 месяцев назад
@@matthewstroud4294 The second hand of the clock moves at one degree per second. If I speed up the clock the second hand still moves at one degree per second. You change the speed and the rate time proceeds simultaneously and you get no hard definition of speed. It is all circular. I have a gut feeling about how fast time goes by. If you take any physical formula and change time so that it proceed double or triple the current rate , nothing changes. Time is just like any phenomena and it is inexplicable. Just like the color Red or Blue or the smell of garlic. Since space is defined by shooting light at mirrors and timing the round trip, space is also defined by time. So you can't even define distance unless you just use a circular definition.
@Eutychus.
@Eutychus. 10 месяцев назад
Nonsense. Time is defined and measured by motion. A relation of the motion between two or more local objects with respect to each other and their place. From whence comes your idea of time defined by speed? Secondly, putting together (1.) abstractions that denotes relationships and (2) ostensive properties of entities as though they belong in the same category is just unbelievable! Where do you get the circular reasoning claim from? -"if you speed up the clock then use that to measure speed then the velocity will decrease."(!!!!??????) WHAT!? What's this nonsense? Meaning, the calibration of an apparatus used in measurement determines and dictates how the object being measured actually acts. So if we set a weight scale to -440lb, then everyone will end up being weightless. So all obese people only have to calibrate their weight scale to negative 100s, they'll lose weight fast. Your reasoning is inane to put it politely, excuse my French. Finally, words alone are sufficient in explaining concepts and abstractions. Words alone are sufficient in explaining Logic. Stop with this anti-conceptual thinking.
@jeffbguarino
@jeffbguarino 10 месяцев назад
​@@Eutychus. I know exactly what I am talking about. If you double the speed of a clock , then the time it shows will proceed and always be twice of that a normal clocks shows. So using this clock and plugging this time into an equation d = vt + (1/2)at^2 Your distance travelled will remain the same but since t is now proceeding twice as fast, then the speed v much be half. So yes your speed must decrease. Why are you having trouble with this ??? Time is defined in terms of objects moving, Like the second had on the clock or the electrons inside a microchip. These moving parts have a speed to them. So time is defined ultimately in terms of moving things with speeds. Speed is defined in terms of time. So it is completely circular. Also distance is ultimately crystalized and limited by the speed of light. To measure the distance to the moon , you can't use a tape measure. There is a mirror left on the moon by Apollo and a laser is bounced off this mirror and the round trip is timed to get the distance. But to get the actual speed of light they had to know a distance and time the round trip for the light to get it's speed. This is where the problem starts because no one can measure any distance without a tape measure and the atoms in the tape are all communicating and signals travelling within the tape measure at less than the speed of light but the electrons in the tape still bounce off each other by exchanging photons. So ultimately the length of the tape is determined by photons and that is light. So yes you get another circular argument. Einstein admitted that the speed of light is unknown. ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-pTn6Ewhb27k.html Time appears to us subjectively to proceed at a certain rate. The word "rate" implies a speed. So time itself in defined in terms of the speed of something. Roger Penrose wrote on this and time itself is dependent on mass. If there is no mass then time doesn't exist, it is another dimension of space. Now we have mass everywhere so time is proceeding as a certain rate but in the future when all matter has decayed and all black holes have evaporated, there will be nothing left to build a clock with. So time won't exist and since space geometry depends on the time it takes light to go from A to B, then space won't exist either.
@PoLanka65
@PoLanka65 10 месяцев назад
@@jeffbguarino Do you really believe all that waffle?
@nicosilva4750
@nicosilva4750 10 месяцев назад
I can appreciate the point of not using anti-concepts myself as an objectivist, but the complaint about money being defined as "media of exchange" is problematic by Mr. Weiner because that is NOT how it is defined. It is defined as "medium of exchange" and does not have a problem with being explained by a genus and differentia. In the case of "Medium of Exchange," the genus is "medium." In this context, "medium" refers to a means or method through which something is accomplished or transferred. It's a broad category that encompasses various forms of intermediaries or tools used for specific purposes. Thus, language is a "medium of communication" and painting is a "medium of artistic expression" demonstrate the broad class that medium is a part of. The differentia in "Medium of Exchange" is "of Exchange." This specific attribute differentiates the medium from other types of mediums by specifying its primary function or purpose, which is to facilitate exchanges of value in transactions. Together, these two words linked by preposition form a definition that categorizes and distinguishes the concept within its broader context.
@PoLanka65
@PoLanka65 10 месяцев назад
Every single gramatically correct clause has some kind subject or object being differentiated in some sense from another subject or object. But that doesn't make any gramatically correct proposition a valid definition of anything. For instance, suppose we define unicorn as "a horse with a single horn". That could be a valid concept within a fantasy novel. But it would be an anti-concept in the context of zoology, because there "the horse" (the equus ferus caballus) by definition does not have any horns at all. In that case, despite being a gramatically correct definition, the very differentia is being denied by the genus, so the actual meaning of the word is rendered null. Acording to your definition, if i go to the market and try to pay my groceries with silver coins, the cashier HAS to accept them because those coins are an excellent medium of exchange, so they are money. You are omitting the "generally accepted" part of the definition. That's what makes it an anti-concept in the context of economy.
@luckyyewlandscaping5560
@luckyyewlandscaping5560 10 месяцев назад
Incoherent garble
@nicosilva4750
@nicosilva4750 10 месяцев назад
@@PoLanka65 Ok. this is better. I left that part out because the claim was there wasn't a genus or differentia. There IS. I agree that the generally accepted phrase is problematic, but that is only because it is vague. There's a reason why it's generally accepted. Fill that in and the definition is fine.
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