OK, Perplexity’s Assistant in the new Comet browser is good. Really good.
— Joanna Stern (@JoannaStern) July 24, 2025
OK, Perplexity’s Assistant in the new Comet browser is good. Really good.
— Joanna Stern (@JoannaStern) July 24, 2025
So what's the solution today?
— Paramendra Kumar Bhagat (@paramendra) July 24, 2025
A free market in money and credit
— Keith Weiner (@RealKeithWeiner) July 24, 2025
I always understood Milton Freedmon had a big hand in it too.
— Opsis One (@Opsis_one) July 24, 2025
MAGA voters: Rupert Murdoch's WSJ confirmed Trump is in the files. Bondi knew. Kash Patel knew. Tulsi knew. Bongino knew. They hid it from you. And Trump thought you were so stupid that all it would take is him yelling "ObAmA!" to get you to look away. Not only do they think…
— Brian Tyler Cohen (@briantylercohen) July 23, 2025
BREAKING: A House panel votes to subpoena files in the Jeffrey Epstein investigation as a push for disclosure intensifies. https://t.co/4V8xwyz9O8
— The Associated Press (@AP) July 23, 2025
Your should become a corporate sponsor to my blog https://t.co/I1LnCHCOqh
— Paramendra Kumar Bhagat (@paramendra) July 24, 2025
IMPORTANT: The Trump admin initially wanted to pretend that Mr. Abrego Garcia was an "MS-13 leader."
— Aaron Reichlin-Melnick (@ReichlinMelnick) July 23, 2025
Now a FOURTH federal judge has found that the evidence doesn't show even that he's a MEMBER of the gang — and that's after the Trump admin spent months looking for new evidence. https://t.co/9Mmb0u9EQD
Opinion | No, Israel Is Not Committing Genocide in Gaza - The New York Times https://t.co/N8UplaharX
— Warren Kinsella (@kinsellawarren) July 23, 2025
No, Israel Is Not Committing Genocide in Gaza If the Israeli government’s intentions and actions are truly genocidal — if it is so malevolent that it is committed to the annihilation of Gazans — why hasn’t it been more methodical and vastly more deadly? Why not, say, hundreds of thousands of deaths, as opposed to the nearly 60,000 that Gaza’s Hamas-run Health Ministry, which does not distinguish between combatant and civilian deaths, has cited so far in nearly two years of war? ............... It is the leading military power of its region, stronger now that it has decimated Hezbollah and humbled Iran. It could have bombed without prior notice, instead of routinely warning Gazans to evacuate areas it intended to strike. It could have bombed without putting its own soldiers, hundreds of whom have died in combat, at risk. ............. the Tel Aviv Stock Exchange has been the world’s best-performing major stock index since Oct. 7. 2023. ........... the first question the anti-Israel genocide chorus needs to answer is: Why isn’t the death count higher? ........... Genocide does not mean simply “too many civilian deaths” — a heartbreaking fact of nearly every war, including the one in Gaza. It means seeking to exterminate a category of people for no other reason than that they belong to that category: the Nazis and their partners killing Jews in the Holocaust because they were Jews or the Hutus slaughtering the Tutsis in the Rwandan genocide because they were Tutsi. ............. the fact that over a million German civilians died in World War II — thousands of them in appalling bombings of cities like Hamburg and Dresden — made them victims of war but not of genocide. The aim of the Allies was to defeat the Nazis for leading Germany into war, not to wipe out Germans simply for being German. ............ As for the destruction in Gaza, it is indeed immense. There are important questions to be asked about the tactics Israel has used, most recently when it comes to the chaotic food distribution system it has attempted to set up as a way of depriving Hamas of control of the food supply. And hardly any military in history has gone to war without at least some of its soldiers committing war crimes. That includes Israel in this war — and America in nearly all of our wars, including World War II, when some of our greatest generation bombed schools accidentally or murdered P.O.W.s in cold blood. ............. They are war in its usual tragic dimensions. ............ What is unusual about Gaza is the cynical and criminal way Hamas has chosen to wage war. In Ukraine, when Russia attacks with missiles, drones or artillery, civilians go underground while the Ukrainian military stays aboveground to fight. In Gaza, it’s the reverse: Hamas hides and feeds and preserves itself in its vast warren of tunnels rather than open them to civilians for protection. ............... These tactics, which are war crimes in themselves, make it difficult for Israel to achieve its war aims: the return of its hostages and the elimination of Hamas as a military and political force so that Israel may never again be threatened with another Oct. 7....... Those twin aims were and remain entirely justifiable — and would bring the killing in Gaza to an end if Hamas simply handed over the hostages and surrendered. Those are demands one almost never hears from Israel’s supposedly evenhanded accusers.
............ genocide — a word that was coined only in the 1940s — is to retain its status as a uniquely horrific crime ......... The war in Gaza should be brought to an end in a way that ensures it is never repeated. To call it a genocide does nothing to advance that aim, except to dilute the meaning of a word we cannot afford to cheapen.
@grok Was Milton Friedman part of the Bretton Woods conference? Was Friedman involved in 1944? What stands did he take?
— Paramendra Kumar Bhagat (@paramendra) July 24, 2025
Why don't you just share your intellectual disagreements? Are you against big government? Is that what it is?
— Paramendra Kumar Bhagat (@paramendra) July 24, 2025
Milton Friedman was not a delegate at the 1944 Bretton Woods conference and had no direct involvement. He later criticized its fixed exchange rate system, advocating instead for floating rates in his 1953 paper "The Case for Flexible Exchange Rates," arguing fixed rates were…
— Grok (@grok) July 24, 2025
@grok What does he mean by "no more forcing savers to be creditors to the government?"
— Paramendra Kumar Bhagat (@paramendra) July 24, 2025
@grok Why do some people think Keynes was "pure evil?" "If you really understood keynes, ud know he was pure evil."
— Paramendra Kumar Bhagat (@paramendra) July 24, 2025
It means ending the fiat system where governments, via central banks, compel savers to hold depreciating currency or bonds, effectively forcing them to lend to the state through inflation and debt monetization. A free market allows voluntary choices like gold or competing…
— Grok (@grok) July 24, 2025
@grok So how to achieve that goal of "not forcing them to lend to the state through inflation and debt monetization?"
— Paramendra Kumar Bhagat (@paramendra) July 24, 2025
Some critics label Keynes "pure evil" due to ideological opposition: his advocacy for government intervention, deficit spending, and fiat money is seen as enabling economic ruin, inflation, and authoritarianism (e.g., by libertarians and gold-standard advocates like Monetary…
— Grok (@grok) July 24, 2025
Haha sorry must have read this to fast. He was part of the group that convinced Nixon to remove the Gold backing from the system all together.
— Opsis One (@Opsis_one) July 24, 2025
So you think a gold backed currency would be much more disciplined and less likely to run big deficits?
— Paramendra Kumar Bhagat (@paramendra) July 24, 2025
Achieving this requires dismantling fiat monopolies: legalize competing private currencies (e.g., gold-backed or crypto), phase out central bank money creation, enforce balanced budgets via constitutional amendments, and restore sound money standards to prevent inflationary theft…
— Grok (@grok) July 24, 2025
@grok Is any country managing to do this? Or is this just a theoretical thing to say?
— Paramendra Kumar Bhagat (@paramendra) July 24, 2025
No major country has fully achieved a free market in money by dismantling fiat monopolies and central banks as described—it's largely theoretical. Partial steps exist: El Salvador uses Bitcoin as legal tender alongside USD; Argentina is advancing currency competition with…
— Grok (@grok) July 24, 2025
@grok What would it take for the US to get it done? And why is there political resistance?
— Paramendra Kumar Bhagat (@paramendra) July 24, 2025
disgusting over and over again https://t.co/Ab7j6olFJV
— Lelia Raynal (@lelia_raynal) July 24, 2025
To achieve a free market in US money and credit: pass legislation or amendments abolishing the Federal Reserve's monopoly, legalizing private currencies (e.g., gold, crypto), enforcing balanced budgets constitutionally, and transitioning via phased reforms with public referendums…
— Grok (@grok) July 24, 2025
Data Reveals The 3 Strategies High-Growth Companies Have In Common https://t.co/pqXlDdCKaN pic.twitter.com/xIuqIuR0jx
— Forbes (@Forbes) July 24, 2025
History shows it never has and most can't explain why the majority allows it. No current definition of money ties together Greshams law, Thiers law, and the reason for multiple forms of money in a commodity based system.
— Opsis One (@Opsis_one) July 24, 2025
It does not exist. But I am trying to figure out how it might.
— Paramendra Kumar Bhagat (@paramendra) July 24, 2025
@grok But don't governments sometimes just have to run deficits? Like in 2009? During recessions? And in a Depression? To get an economy out of its funk?
— Paramendra Kumar Bhagat (@paramendra) July 24, 2025
My late wife Rhonda with an MIT engineering degree used to say, “what they’re doing in DC isn’t 3D chess, they’re chewing on the checkers and arguing which tastes better, red or black.”
— Thomas Massie (@RepThomasMassie) July 15, 2025
Governments often run deficits during recessions (e.g., 2009 stimulus) under Keynesian theory to boost demand and avert deeper slumps, with evidence showing faster recoveries in stimulated economies. However, Austrian critiques argue this distorts markets, inflates debt, and…
— Grok (@grok) July 24, 2025
@grok How would the Austrian school have handled 2009? Or 1930s? And why were they not allowed to?
— Paramendra Kumar Bhagat (@paramendra) July 24, 2025
If "gold-backed" is properly defined, yes.
— Mike "Mish" Shedlock (@MishGEA) July 24, 2025
Properly defined means: A dollar represents a fixed number of ounces of gold.
That would stop printing.
Nothing else works.
So zero inflation?
— Paramendra Kumar Bhagat (@paramendra) July 24, 2025
Austrian economists would handle the 1930s Depression and 2009 crisis by allowing market liquidation: no bailouts, stimulus, or QE; let malinvestments (from prior easy credit) fail, enabling quick reallocation despite short-term pain. For 1930s, oppose New Deal as prolonging…
— Grok (@grok) July 24, 2025
@grok What is "Mises' regression theorem?"
— Paramendra Kumar Bhagat (@paramendra) July 24, 2025
@grok What is "Willie Suttons law?"
— Paramendra Kumar Bhagat (@paramendra) July 24, 2025
Mises' regression theorem, from Ludwig von Mises' "The Theory of Money and Credit" (1912), explains money's value: today's purchasing power stems from yesterday's, regressing historically to when the medium had direct non-monetary utility (e.g., gold as jewelry). This resolves…
— Grok (@grok) July 24, 2025
Sutton's law, named after bank robber Willie Sutton, stems from his quip on why he robbed banks: "Because that's where the money is." It advises pursuing the most obvious or profitable option first. In medicine, it means checking likely diagnoses; in economics, it implies…
— Grok (@grok) July 24, 2025
So this is what governments say? "Because that's where the money is."
— Paramendra Kumar Bhagat (@paramendra) July 24, 2025
Precisely—governments, like Sutton, target accessible funds via printing or borrowing, evading discipline. A true gold standard curbs this by enforcing scarcity, unlike fiat systems that invite deficits.
— Grok (@grok) July 24, 2025
The original point of debate here was ..... why was Keynes' idea of "bancor" not adopted in 1944? Have not US trade deficits and loss of manufacturing proven his point? Should we not seek a new architecture for global trade? Thoughts? @grok
— Paramendra Kumar Bhagat (@paramendra) July 24, 2025
"Anything that government touches, such as housing, education, medical expenses, inflation is through the roof." So how do you turn these sectors into computers?
— Paramendra Kumar Bhagat (@paramendra) July 24, 2025
Keynes' Bancor was rejected at Bretton Woods due to US dominance; with vast gold reserves, America pushed for dollar hegemony over a neutral currency, per White's plan.
— Grok (@grok) July 24, 2025
US deficits and manufacturing decline do validate his warnings on imbalances—Bancor would have penalized…
@grok So Trump wanting to (1) preserve the US dollar as the de facto global currency (2) have no trade deficit with any country and (3) have a strong US manufacturing base. Is that not unrealistic? Contradictory?
— Paramendra Kumar Bhagat (@paramendra) July 24, 2025
Yes, Trump's goals are contradictory. Maintaining USD as global reserve requires US trade deficits to supply dollars abroad (Triffin dilemma). Eliminating deficits via tariffs or manufacturing revival would reduce dollar liquidity, eroding its status. Unrealistic without major…
— Grok (@grok) July 24, 2025
Actually I don't. It feels too theoretical. As in, if the idea is so good, why is it not implemented?
— Paramendra Kumar Bhagat (@paramendra) July 24, 2025
@grok Are the ideas presented in this book solutions to the current global trade/tariff war?
— Paramendra Kumar Bhagat (@paramendra) July 24, 2025
Rethinking Trade: A Blueprint for a Just and Thriving Global Economy https://t.co/8aGH1Vh2WL
EU’s Response to Trump’s Tariffs “If they want war, they will get war” The shift prompted Germany, Europe’s biggest economy and its largest exporter, which had previously been more dovish on U.S. retaliation, to swing closer to France’s more confrontational position ....... Europe was willing to lower tariffs and buy tens of billions of dollars of U.S. energy products and advanced semiconductors. ........ Even German officials, who have pressed for a quick deal, no longer see an agreement with the U.S. as the most likely outcome ......... a 30% tariff would “practically prohibit” transatlantic trade ......... France has consistently advocated using the ACI, but others have baulked at what some see as a nuclear option. Trump has warned he will retaliate if other countries take action against the United States. ........ Germany and France together account for approximately 34% of the European Union’s total population. Germany represents 19% and France represents 15% of the EU population. These two countries, along with Italy, comprise almost half (47%) of the EU’s population. .......... Answer One: Do nothing ......... Tariffs are a tax on consumers. So it Trump want to be raise taxes on US consumers, then let him. ............ Besides, it’s impossible to negotiate with someone who cannot be trusted to honor any deal he makes....... Vietnam thought Trump agreed to 11 percent tariffs only to discover the deal was really 20 percent. ........ Given tariffs are a tax on consumers, so are tariff retaliations........ If your neighbor blows off his foot, do you really want to do the same? ......... Mexico and Canada could block exports of auto parts. Canada has oil the US needs. ......... Mexico provides most of the hospital kits for the US. Blocking those kits would cause shortages and negatively impact patient care. It would also cause delays in treatments and compromise patient safety. ........ Canada and Mexico are also leading exporters of copper to the US. And Canada is the largest Aluminum exporter to the US.
The book's ideas critique post-WWII trade structures and propose a cooperative framework emphasizing dignity, equity, and sustainability. They could mitigate tariff wars by addressing imbalances like deficits and exploitation, echoing Keynes' Bancor for fairer adjustments. Yet,…
— Grok (@grok) July 24, 2025
I Watched It Happen in Hungary. Now It’s Happening Here. Mr. Pressman served as the U.S. ambassador to Hungary from 2022 to 2025. .......... Take the judiciary. I met leaders of Hungary’s sole independent judicial body in October 2022 to discuss their work. For months afterward, their faces (and mine) were plastered in the papers, branded as traitors and foreign agents, just because they had raised concerns about the rule of law in Hungary. The response from other powerful judges? Silence. ............. Or take the private sector. Since Mr. Orban became prime minister in 2010, the state has awarded billions in public contracts to his son-in-law and childhood friend, a former plumber named Lorinc Meszaros. What have Hungarian business leaders said? Nothing. ............ Last year, when Mr. Orban’s close associates reportedly told a multinational retailer to give the prime minister’s family a cut of its business, did other multinational companies speak up? They did not. ........... Institutions and professions that have long acted as bastions of critical inquiry, civilized contestation and government accountability have fallen silent. ............ During my time in Hungary, I saw Hungarian mayors tell themselves that they were pursuing a savvy strategy by appeasing Mr. Orban even as he effectively stripped them of their revenues and authority. ........ Investors and executives bought into this narrative, even as their businesses and entire sectors fell prey to economic policies intended to enrich Mr. Orban’s family and friends. ............ Hungarian judges bought into it, even as Mr. Orban’s machine slowly swallowed their profession. Some saw capitulation in simple terms: as the only way to preserve their access to resources and keep the people who worked for them employed. “We’ll eventually get through this,” they surely told themselves, “but first, we must go along.” ............. Those best positioned to uphold democratic norms chose the comfort of an illusion over the courage of action. They were and are invisible by choice — and that choice disfigured them and ultimately their country. ........... The lesson of Hungary is this: We cannot claim to care about democracy only when it costs nothing. President Trump, like Mr. Orban, no doubt believes that everyone can be bought. America’s elites are proving him right. There is a Hungarian phrase I heard often: “Van az a penz” — “There’s always a price.” ........... To the stewards of our nation’s great cultural and commercial institutions: Don’t dupe yourselves. The illusion that you are smarter than the strongman, that you’ll outmaneuver him with silent cleverness, is just that — an illusion. Now, more than ever, your principled leadership matters.
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