Posted by: graemebird | May 26, 2010

The Hateful, Costly SMELL!!!! Of Fractional Reserve!!!

From Elsewhere:

“… The legal restriction is usually suggested as a second-best alternative…..”

It doesn’t matter what anybody says. The legal restriction is the best alternative by a light-year. Nothing else is acceptable. Because without the legal restriction, and serious plans to make it stick, until the current generation of bankers and macromancers have retired and died…. then fractional reserve imposes huge costs on the rest of us, even were it not being practiced.

The possibility of being soft on fractional reserve imposes huge costs on us even were it the case that bank-cash-pyramiding was not currently being practiced. If there is the smell, the whiff, or the tiniest niggling suspicion of fractional reserve, then this propels GOLD up to the only serious store-of-wealth money, with silver as just a subsidiary role, and no other monies need apply.

Be practical people. Whereas without free coinage, yet with a tax disadvantage to 100% fiat ….. should we then have a total ban on fractional reserve and the serious vigilante effort to make that ban stick, then we get to have a wide cross-section of commodity-monies, making the transition essentially costless, and the maintenance both costless and a positive advantage to resource-allocation.

Think of the history of it. In the end as a medium of exchange, silver was probably superior to gold. But if you had fractional reserve, or just the smell of it, then you have the problem wherein bankers can anticipate growing deposits. They can actually anticipate bailing their own asses out by getting hold of the real stuff in a fix. The same goes for gold if there are new finds in Australia and South Africa. But aside from sudden success in gold-mining, gold is so scarce that the bankers usually cannot think to themselves that they can get hold of it in an emergency.

The Gold that they don’t have is not necessarily going to be landing in their deposit boxes in increasing amounts, so unless there are spectacular new finds, they cannot anticipate too much ahead.

With the very smell of fractional reserve it has to be gold. WHAT ARE THE CONSEQUENCES OF ALL THIS EMPHASIS ON GOLD. For one thing this takes a magnificently useful element out of industrial production. Secondly it propels gold to such a high plateau of value, that it must fall from that HIGH ……. taking us out of the growth-deflation pocket, which is Gods-Own monetary environment for effective resource-allocation (once huge debt-problems have been dealt with.)

Now imagine if there was no possibility of fractional reserve or governments trying to debase the currency? Imagine the thieving governments had some scruple wherein someone said “Hey lets steal some more via the monetary system” and that government official immediately had 10 minutes of near-asphyxiation, and if he so much as dreamed about using the monetary system to steal more, he’d wake up crying.

Suppose that was the case? Under those conditions copper could be a magnificent money. Because we have modern technology. In my country you have all these desert roads. You could have your stores of copper. Your digital e-copper cards could be based around this. If someone tried to make a heist, it would all be on satellite and out would come the helicopters and there would be NO-ONE and no traffic to hide behind, and copper would work just fine as a digital money.

But suppose you get suspicious that the government and banks are stealing off you by practicing fractional reserve? What are you going to do then? Go make a withdrawal with a truck and forevermore store copper off your own back? Get around with a wheel-barrow of copper around the shops?

There ought to be no toleration at all of any hint of fractional reserve. This ought to be considered a valid constitutional amendment while there is a single STATE left in the world.

Look at the different potential monies with and without the smell or hint of fractional reserve?

For retail silver and copper, are probably better than gold, except for big purchases like cars and houses and things. Although the three might plausibly be used together, even without digitization.

For massive international trade platinum and other very scarce gear could have an advantage. A threatened country might choose to have synthetic diesel as the money which their citizens must pay their taxes in, to get a weekly discount on PAYE, (Withholding … or Pay As You Earn) ….. even as they preferred other monies for other purposes.

But as soon as you introduce even the suspicion of fractional reserve, gold beats everything out for almost all usages. And this is the misallocation of resources that even the happy-talk-tolerance of fractional reserve would cost us.


Because gold is the one commodity that you can say “screw you” and take the lot of it out of the banks hands without any help, then thats why it can be the only serious money, if even the possibility of fractional reserve, raises its stupid unthinking head.

You don’t need no help from no-one. Thats the whole secret behind gold. You can say “screw you this gold is coming home” and you can take it out and carry it home with or without your armed family member besides you, and the bank hasn’t got it anymore to pyramid on, and so its value is still there. Actually its value is enhanced as the prices start to falling once you and your pals act in this way.

To be faithful to the idea of stimulating the industries farthest from the consumer, whenever we have an expansion, we want a good cross-section of commodity monies. We cannot have this excellent state of affairs, so long as the suspicion that fractional reserve might get off the ground again, is a living reality.



  1. From Elsewhere:

    No good. Its fraud/theft/larceny/counterfeiting on the rest of the public too. Its not just about the people in the contract.

    Under the English language, people may stick to a strict definition for fraud. A strict definition for theft. A strict definition for larceny. A strict definition for counterfeiting.

    Supposing such people were anally-retentive, legally-educated, tendentiously employing sophistry, or having some sort of youthful problems with Aspergers syndrome, that they will one day overcome ????? …..

    Now such people may be able to construct strict definitions for each of these crimes, and somehow the incredible racket of fractional reserve, evades all these strict definitions.


    If the crime of fractional-reserve is slipperier than an eels bran-turd, to the average “intellectual”, then thats a good enough reason to ban it outright right there.

  2. “Rothbardians are opposed to fiduciary media……”

    I think when we talk to the laity we ought to call “fiduciary-media” PONZI-MONEY.

    Ponzi-money is more to the point, is more descriptive, and avoids giving the racketeers the air of mystery, sophistication, and legitimacy.

    PONZI-MONEY + Notes And Coins In the Hands Of the Public = M1.

    Banks engage in BANK-CASH-PYRAMIDING.

    Banks create PONZI-MONEY out of thin air.

    I think in these less formal times, this terminology is more correct, and to the point.

  3. I’ve been noticing that you’ve been making some truly excellent statements on Catallaxy lately. But even so, I never expected anything quite as good as the above.

  4. Here SOON priotizes communism, communists winning the cold war, and not being able to negotiate away the situation of thousands of nukes being pointed at ones people.

    It obviously wasn’t my decision to make but I’d be happy for Afghanistan to be left alone under its previous royalist govt as a first preference. As a second preference, Charlie Wilson wouldn’t have gotten a cent to dole out to the stone age barbarians.”

    The arming of the Afghans was the single most cost-effective wing-clipping of an existential threat that one can ever imagine? Imagine all the lives saved if we could have deflated the Nazis with some similar, oh so painless. measure?

    More effective then the Korean and Vietnam wars taken together and not 1% of the blood-tax.

    The investment in Afghan fighters was this incredible bargain.

  5. I prefer Communists over Islamist barbarians Bird.



    what the hell has happened to Lew Rockwell and the paleo-libertarians? he’s now interviewing Naomi Wolf of all people. For chrissakes! Naomi Wolf!



    By that definition you’re retrospectively advocating that Afghanistan was depopulated through genocide in the 70s and 80s. Zero population. Neither Islamists nor secularist democrats. I’m sure the USA would have liked to achieve that if they could have managed. Fortunately, real life is a lot more complicated, difficult and messy than that.

  7. The people of Afghanistan weren’t all Islamic extremists. The people of Germany weren’t all committed Nazis. If the communists decide they want to practice genocide there is not a great deal we can do about it beyond funding those Afghani’s that would fight against the communist menace.

    How many Americans died in this operation? Not a great deal. Contrast this to the mishandling of the Korean and Vietnamese situations. SOON is condemning one of the few successes in the usually incompetent American policy.

  8. The secularists that preceded the Taliban – who were politically backed and militarily trained and armed by the US – were popular democrats.

    The attempted genocide of the these peoples and the decimation of this beautiful ancient culture and country in the late 20th century is almost entirely the product of US foreign policy in the pursuit of neo-liberal objectives. The exact sort of objectives and principles that a certain sort of (Randian cardboard cut-out) “libertarians” endorse.

    • Not Soviet foreign policy?

  9. Jason Soon is hardly a reliable commenter on matters colonial and Third World.

    He’s a defender and apologist of the sort of Western colonial exploiter politics – such as that of the British imperial rulers of what is now Malaysia – which in the mid 20th century forced half a million people, most them Chinese, into virtual prison camps, called “New Villages” – the prototype for similar tactics used by the US military in Vietnam against popular, democratic, secular political forces.

  10. Right. I didn’t realise we were that harsh. Is this not possibly spiteful commie propaganda? We did win that war, and so you expect some sort of reaction.

    I don’t know the answer, I’m just suggesting you consider that possibility.

    Certainly its fortunate for the Malaysians that we didn’t harm, that we saved them from communism. Still I’m not claiming that I know what the human cost was of that successful rumble.

  11. “The secularists that preceded the Taliban – who were politically backed and militarily trained and armed by the US – were popular democrats.”

    Do you mean the ones backed by the Soviets? If its a typo I can fix it up?

  12. Malaysia today is one of the most rooted, class and racially divided, hierarchical, retrograde, hog-tied countries in the world.

    What exactly was its poor majority saved for?

    • If you’ve lived under communism, well thats a pretty tough gig. Supposing you survive. Singapore has done very well. Malaysia has done about as good as any Muslim society around the place.

  13. Yes, I was referring to the democratic Soviet-friendly Afghan majority political forces.

  14. Its very hard to verify claims of what would have happened if the communists had not been thwarted. Unless there was reason to believe that the Soviets had changed their way of operating, we must be informed by how they and their proxies acted when they were successful.

  15. Don’t forget about the Jews. Just sayin’.

  16. Have a squint at this, Mr B.

    This must be our rallying cry:


  17. Yeah great slogan. Full Backings/Mass Sackings. You can afford to go with “Backings” Ron. To emphasise that we need to have more than just gold and silver.

    Absent this sort of thing being put into effect the US really is finished. Without some sort of massive policy change, living standards in the US are liable to collapse and fall below that of the New Zealanders.

    I find it amazing that when the banks are in trouble, this coincides with an almost inexplicable resurgence in Keynesian idiocy and Keynesian policies, everywhere in the world at once. Because so long as the governments are willing to pay, of course deficits are a massive money-spinner for the banking sector. Nothing is gained for the rest of us, since the money created for the purpose of financing the deficits, brings with it no new resources. So if you don’t feel a great deal richer now that someone is borrowing money on your behalf, well there is no mystery to it. Its as though the banks have another bubble to move onto not the housing market is less suitable for the purpose. So they create the Keynesian deficit bubble. What a wonderful thing it would be if we just decided not to pay the banks back. How superb it would be to see them all fail and die.

  18. Bird,

    What do yo think of this guys ideas about models and theories? Obviously you won’t agree with all of it. I don’t either.

    An excerpt

    “Let me step aside and talk about the difference between theory and model. I was brought up reading the Torah and going to Hebrew school, and there is the story of Moses and the burning bush. God tells Moses to go to Pharaoh to Let My People Go. Moses doesn’t like being sent to do this and he doesn’t speak very well and so he runs away into the desert of Midian to evade his responsibility. Eventually he comes across a burning bush and a voice speaks to him from the burning bush and tells him to go to Pharaoh and tell him to free his people.

    Moses tries to wriggle out of it and says, who shall I say sent me? The voice from the burning bush says, I am that which I am, which is a sort of pun on the Hebrew word Jehovah for God. I like to think of that as being the example of a theory: God in the story isn’t saying “I’m a lot like this” or “I’m a lot like that.” I’m absolutely exactly what I am and not like anything else, he says, and that is kind of true of the quality of theories. You’re not comparing yourself to anything. You’re saying this is the way I behave.

    If I can give an example that I have been interested in from a different, more qualitative aspect: I have been reading Spinoza’s “Ethics”. It’s a lot like Freud. He’s trying to explain the behavior of human emotions and eventually derives a theory of ethics out of all of this. It’s also very astoundingly similar to the theory of derivatives in finance in that he says there are three underliers, which are desire, pain and pleasure. Spinoza’s avowedly trying to do a version of Euclid, who defines points and lines and then derive theorems about triangles. So analogously Spinoza defines the primitives, which are pleasure, pain and desire, plus a few others like wonder and contempt, which I’ll mention later perhaps, but the three I mentioned are the ones that, even though he defines them, you don’t really need him to. Everybody who has lived and who speaks English understands what points and lines are, and so do they understand what pleasure, pain and desire are.

    Then he starts to define in a self consistent way all the emotions that people experience as derivatives of pleasure, pain and desire. I actually made a table of them which I could show. I drew a dependency chart. So, for example, he says love is pleasure associated with an external object. Hate is pain associated with an external object. Then he gets to more complex derivatives, which are like convertible bonds: envy is pain at somebody else’s pleasure. He doesn’t talk about Schadenfreude but clearly Schadenfreude is pleasure at somebody’s pain and envy is the other way around. Cruelty, for example, is a triple derivative, a desire to inflict pain, on someone that you love.

    In this way he builds up a categorical description of almost every single emotion you can name in the way they relate to the primitives, desire, pleasure and pain.

    I like it because : A) it leads to a theory of ethics and B) there is no reference to anything outside of itself. He doesn’t say the brain is like a computer. It’s totally self contained. In a sense it’s a theory of the way things are, not a model of saying this is a lot like something else.

    To give the opposite example, let me distinguish everything I’ve just said about theories from models. Models really depend on analogies. So, for example, in physics, look at the liquid drop model of the nucleus for which Bohr and Mottelson got the Nobel Prize. Bohr is the son, Aage Bohr, of Niels Bohr. The nucleus which really consists of protons and neutrons, say, in uranium, all jammed together very tightly, you can instead approximately think of as a liquid drop, and if you think of all these things jammed tightly together as liquid drop, then the drop can oscillate and can vibrate and can rotate. If you know its mass and you figure out roughly what its elasticity is, you can figure out what the normal modes of vibration are when it oscillates. Bohr and Mottelson end up predicting other excited states of uranium or of heavy nuclei based on this analogy of the drop.

    But it really is an analogy, and a limited one. It’s not saying the nucleus is a liquid drop. It’s saying, in a range of energies if it doesn’t break apart, it’s a convenient way to think about it. That’s very different from something like the Dirac equation where you’re writing down an equation and saying, this is the way the world is, this is not an approximate version of the way the world is.

    I’ve been thinking about this a lot in relation to finance because it seems to me true of financial models. The ethics in Spinoza is a theory of psychology and maybe Freud is too, in a self consistent way, but most financial models are metaphors and are based on saying you can picture stock prices as smoke diffusing or as smoke diffusing and jumping. It’s not a holistic description. It’s just saying that I can understand this if I think about it as much like something else I already understand in another context. “

  19. Well its certainly interesting enough so far. No wow factor but interesting enough for one to keep reading.

    One thing that is most foolish though. There is no point deriving a “risk” model to a ponzi-scheme. Its not about risk, its about pyramiding.

    This fellow is involved in a highly counter-productive industry. But of course you would need the mathematical skills to do well at it, as anti-social an industry as it is. But once people start talking about mathematical risk models for a ponzi-scheme they’ve lost the plot. Ponzi-schemes fall over, but we can never predict when through mathematics.

    Both Greenspan and Bernanke allowed the ponzi-money to build up and added almost no cash. This is the “Chicken-Reserve” system that has been going for some time now. When I say “Chicken” I mean the game of Chicken that teenagers play when they drive their cars full speed at eachother.

    The banks don’t pyramid on new cash anymore. Or they didn’t before the GFC. Rather they race ahead with the understanding that they’ll get bailed out after the fact by a new cash injection.

    Now this lead to the lowest Reserves/M1 that anyone had seen for a long time. If the opposite approach had been practiced, there would not have been a GFC. If reserves were 40% plus these guys would still have a lot of crap on their books. But problems would not necessarily have been all global and systemic. Many little regional banks might just have bought bits and pieces of the too-big-too-failures.

    • “No wow factor but interesting enough for one to keep reading.”

      Great instincts and my reaction too, but I kept reading to find the point. Which seems to be referencing physics to say that shit happens economically. The purpose of which is to let the baddies off the hook. Apolitical nonsense.

      Derman, as he himself tells in this piece, is a failed physicist who tried to value add to Goldman Sachs. Like wow.

      • I’ll keep reading too. But I suppose I will find the greater part of it to be as you say. You see the problem with bank-cash-pyramiding is that to get away with it, it has to be surrounded by mystique and obscurantism. Not that I’ll accuse this fellow of that behavior as an individual.

        Anyway thats the fact of it. And so all this intellectualism, is likely to go into activities that are essentially a bookie-operation.

  20. Playlist for the great global warming blunder:

  21. From Elsewhere:

    Graeme, I did NOT claim redshift is evidence of the Big Bang, just that it is evidence of an expanding universe.”

    But thats entirely presumptuous Grumpy-Old-Man. Not only presumptuous, but inconsistent with your earlier statement.

    The Hubble doctrine, as described by me, says that if doppler gives us red-shift, then ONLY doppler gives us red shift.

    Now we’ve known since 1966 that this is not true. At least one exception to this illogic was identified then.

    Plus it is the fact that the public service science-workers, who hate evidence, and loathe the scientific method ALMOST TO A MAN

    ….. It is a fact that they have no serious theory of gravity, nor any serious theory of light.

    So there is no way they can say that the QUASAR exception is the only exception to an implicit rule that there was no reason to believe in the first place.

    The universe may be accelerating in its expansion. There is no, I repeat, NO hard evidence for this. Hard evidence must be convergent evidence, or if that evidence is based on a single line of data, the relation between that data and the hypothesis that transforms the data to evidence, cannot be based on a clear logical fallacy.

    I’m not saying that the universe ISN’T accelerating in its expansion. But the mainstream have no theory to say why it would be.

    Long-distance Anti-gravity Anyone?

    We can be pretty confident, that the Universe, if expanding, isn’t expanding nearly so fast as the mainstream says, if accelerating isn’t accelerating at nearly that pace ….

    … Most of all we can be sure that the universe isn’t as spread out as the public service tells us it is.


    You don’t take evidence to the bank unless its convergent. Outside the solar system there is maybe 200 or so bodies, that we can match redshift, with Parallax, to give us their distance in accordance with convergent evidence.

    And thats I dot T dot it dot IT! THATS IT!

    The rest is stupid public service dysfunction, dishonesty, cult of personality, and contempt for evidence and the scientific method.

  22. Let us deal with this public servant if the moderators allow it:

    “Oh c’mon Graeme – not everyone is like you and uses one source because it confirms their preconceived ideas.”

    See the leftist projection? I have explicitly made it clear that evidence is not really evidence unless it is CONVERGENT.

    “Some of us are actually or have been, and I mean this with all humility, scientists (you know, the ones you call “science workers”)…”

    No Malcolm. You are not a scientist. You have never been a scientist. Field Workers are not Field Marshals. Get that through your thick, unscience head.

    “… and instead of taking the easy way and getting our quals from a Corn Flakes packet, we got them through the usual hard slog – first degree, Masters, Ph.D, post-doc research, teaching at tertiary level, writing articles, books etc. etc. etc., all that boring conventional training that you have eschewed….”

    None of this is relevant. Because its not EVIDENCE for anything. You see you were never a scientist. At best, if you were competent, you were a technician. Like a plumber.

    “Now while in your eyes……”

    See its just all nonsense Malcolm. Because you actively hate evidence, the need for it, and the scientific method.

  23. From elsewhere”

    The place on earth which would be most conducive to growing sophistication at the cellular level is the Mid Ocean Ridge. Forty-two thousand miles long, with tens of thousands of active volcanoes.

    The problem is that there was no such feature on earth, during that time period prior to the Cambrian explosion. Mainstream science has no explanation at all for the Cambrian explosion. This must be understood. They cannot and will not submit an explanation for it. The Cambrian explosion is “extra-Darwinian” if you like.

    Just as a thought experiment,what if the word for this genetic engineering of a new species became the word “evolved”. We would say that the Venter team “evolved” a new species. What if the industry became to be known as the “terraforming” industry. I’m not suggesting that we ought to use such terminology. I’m just wondering if dense people, under those circumstances, might be able to cope with the idea that Venter’s group are unlikely to be the first outfit in the galaxy to ever develop this ability.

    Of course this is set to become a huge industry here on earth. Venter is thinking of coming up with bacteria that will help with energy production. But as I explained the genetic-engineering technology must have been here on earth before this time, at one time or another.

    Its important to point out that Lloyd Pye has a skull of an organism, that had been subjected to this sort of manipulation. Malcolm was lying about the skull being the result of deformity:

    Its a symmetrical skull, has foreign DNA in its nucleus not in any mammalian record. It has skull-bone that is lighter, thinner and stronger than our own. With a chemical consistency more close to tooth enamel then to our own bone material. It has a a fully human Mother, so must be the result of Venter-like “evolving.” Gene-splicing. No need to form salacious mental imagines of aliens up to no-good. This is a laboratory-conceived creature.

  24. Dennis Hopper dead at 74

    Interesting bit here

    The old rebel contributed money to the Republican Party in recent years, but also voted for Democrat Barack Obama in 2008.

  25. Excellent retrospective. He was very ill so we cannot ascribe too much to his voting for the usurper. Other than the fact that the competing candidate was uninspiring.

    • Mr Bird

      Mr Hopper seems like one of the few masculine men left in Hollywood. I find it difficult to believe he was taken in by the Usurper especially given his past support for the Republicans. I think we can safely assume until proven otherwise that he was coerced to vote for the Dastardly Blackamoor.

      • Well you know. He was very very very sick Winchester. When a man like him is that sick, there is but one thing to do, and that is to fall back on old habits.


        I remember hearing or reading an anecdote about Hopper, as told through the eyes of a fourteen year old Laurence Fishburne. Now this is a Chinese Whispers situation. As I remember its gone through Laurence, to some person, to a writer, to one of my friends, then onto me. Thereafter the anecdote faces the further potential debauch, festering within, my unreliable memory banks.

        But in this version of events, the young Laurence thought that Hopper was about the coolest fellow he’d ever met.

        One time they were sitting around in their makeshift jungle digs on-location, around a fire, and Dennis is talking about something or other. A stranger arrives to the outer-dark, and tosses Dennis a medicine ball, without missing a beat, and even as the stranger leaves, Dennis, in a middle of chatting away, pulls out a big knife and cuts the medicine ball open, and there is all this cocaine, which he begins to share around, to all and sundry.

        Now the original story is going to be somewhat different one imagines.

        Apocalypse now came out with a lot of intellectual pressure for everyone to pretend they liked this movie. But to me, though it is one of the most MEMORABLE movies of all time ….. Still it strikes me that almost no-one was fully enjoying the movie, the very first time they watched it. Only the people that had gotten themselves in the right hopped-up mood, or who just happened to be in exactly the right mood by coincidence … would have authentically appreciated that movie the first time around.

        I’d liken it to the movie “Heavens Gate.”

        “Heavens Gate” is another memorable movie, that I can recommend, to precisely no-one.

        But Heavens Gate was pilloried, and yet we all HAVE TO like Apocalypse-Now ……. lest our fellows think less of us. AND I AGREE. And I’ll go along with that too! I like “Apocalypse Now” as well, and I must say I would be somewhat suspect of any male, who did not see some sort of merit in the film in the final analysis.

        Its just that I don’t get around to seeing “Apocalypse Now” all that often. I will not get the jungle movie out unless I do so knowingly; With a group of friends ……… all whom have seen it before.

        Plus you really want that medicine ball that Dennis Hopper had. I haven’t smoked the Gunja in a very long time. And never took it up. But some of that might help as well. Yes it is a very rich film. Its a magnificent film. But how do you get (lets say) 5 human beings in the right mood, to watch it, all at the one time, without recourse to illicit drugs?

        Well actually now we have sports drinks and things. So we may be able to stay legal on this story. And then again maybe not.

        Now while it is always good to see Marlon Brando in a movie, still there were things a little pretentious about his role in this particular story. Nonetheless if you had stuck it out that long the movie peaked with the performance of Brando.

        But in all that dissonance, to me at least it, was Hopper that provided the consonance. The consonance, or should I say the blessed relief. Hopper was at once hilarious, but at the same time, he was a whole new level of surrealism and weirdness ….. to cap off the way things went as the crew progressed up the river, as matters tended to go from weird, to yet more weird again.

        While Marlon is likely the greatest film actor that ever lived, Hopper pretty much managed to hold his own. Although apparently their parts were not filmed at the same time. So that Marlon didn’t actually throw the bananas directly at Dennis.

        I never found out, for the longest time, who the actor was, who played the photographer in apocalypse now. You remember two lines sort of seared into your mind. The first one being: “if” is the middle word in “Life”.

        You remember how brilliantly Dennis Hopper, the Director and the Scriptwriter, managed to magnify, to the nth degree, a line that came straight out of the original Conrad novel …… (Heart Of Darkness.)

        Hopper says:

        “Sometimes he goes too far ….. But he’s the first to admit it.”

        Is there a funnier line in movie history?

        Well there is probably a lot of them, but still thats an amazing line, the way they had Dennis say it.

        I never checked up who the actor was after first seeing the jungle movie.

        Some years after seeing Apocalypse now, for the first time in Perth, I was walking around Melbourne trying to deal with a terrible hangover. In those days there were a whole heap of independent movie theatres in Melbourne. There were not many places you could stay in the middle of town in Melbourne in those days. But I insisted in staying in the middle of town just the same. So that when I went out walking, on a Saturday or a Sunday morning, I’d wonder what people were doing up before noon on Saturdays, and how they had made the time, to not only wake up, but make it into town looking healthy.

        I’d always feel that it was strange. People up so early? Surely the mornings are for getting over the night before.

        Anyway I just stumbled into this Movie that some folks I knew at University had been talking about. Nothing to do, and no other good way to pass the time until the bout of sickness had lifted.

        In those days few people had a video-recorder to themselves. So when a new critically-acclaimed movie came out, all these wankers got about recommending that movie, though they had not seen it. In those days movies were akin to paintings or ART-INSTALLATIONS with the students. Which is to say it was all a big wank.

        Anyhow I start watching this very strange movie. And out comes this fellow FRANK. I was just completely fucking stunned. A friend had a similar experience. He said to me. “I’m watching it. And this Frank fellow shows up. And I”m like “How’s his fucking form!?”

        Same friend says to me: “Man I used to consider the real street cred actor was DeNero. But in my mind now its fucking Dennis Hopper”

        This statement circa 1988.

        Finally I put it all together and realised that the photographer and Frank were the same actor. And that I’d had this fellow on my bedroom wall since I was about seven years old. I hadn’t recognised him, but he’d been up on my bedroom wall. When I realised who he was he was, he was STILL up on my bedroom wall. He stayed up on my bedroom wall for many years after as well. Only not the last time I went home more is the pity.

        He had been there all along. All that time. Three decades up on my bedroom wall. And I didn’t recognise him. He was there riding a Harley and Peter Fonda riding another Harley besides him.

        How many people have been nominated for best director, best actor, and best screenplay all in the same movie? Was Dennis Hopper nominated for all three at the same time? If so the others from memory are Charlie Chaplin, Orson Welles, and Sylvester Stallone. And lets not be putting down Stallone. I think he was immensely talented. I imagine that he hung around in a milieu that perhaps wasn’t as intellectual as the other people mentioned. But I think, Stallone, at least started as a fellow of immense talent.

        What I’m trying to say is that very few people can really pull that gig off in an excellent way. Dennis Hopper , despite his handicaps, was clearly a genius.

        Dennis is the big star of Easyrider. They talk about Jack Nicholson being good. And Jack Nicholson was good. Of course Jack Nicholson was good. Jack Nicholson is always good.

        But Dennis’ acting was the real highlight of Easy-Rider. No question about that at all.

        I missed you even before you died Dennis. Craig Venters’ team have to get it together and save us all from this aging curse. We need to stop any more geniuses from dying, or yet even growing older, and there isn’t a minute to lose. This is a human rights issue. This is a matter of urgency.

        You of all people, Dennis, needed a second stay of execution. You up and left Hollywood, right about the time that Francis Coppolla sashayed into town. You lurched away in a pique, like Achilles brooding at the ships.

        You of all people needed the gift of youth all over again Dennis. Because it was just like you said about your friend James …. It was just as you said of James.

        The fact is we didn’t see even one tenth of what Dennis Hopper was capable of.

        He was very sick Winchester. He was sick, and surely in a lot of pain. Clearly he would have done, what any sensible man would have done under the circumstances. He would have got back on the hard drugs, and not with regret, but with relish.

        You must not blame him for voting for the destroyer of his nation Winchester. It is the healthy and the smug that are to blame for this terrible tragedy.

        Oh the horror, the horror.

  26. From elsewhere:

    Grumpy has asked for evidence. I’m not quite sure what specifically for. The last sentence has two meanings. What does he want evidence for? Since he doesn’t care about evidence and is not interested in it? But its also not clear the specific subject.

    Here is evidence that Venters technology is by no means new to this part of the galaxy. This evidence, or rather proof, comes from the existence of a hybrid skull. That it is a hybrid skull is absolutely proven from convergent evidence in the presentation within these videos. Malcolm’s lies cannot change this reality.

    Should a few human beings ever be forced to escape to another solar system for some reason or other, they would not be able to take our whole economy with them. They would have to take technology to exploit energy. And they would also take Venter-like technology. They would find themselves continually working with a labour and capital shortage, but with abundant energy.

    The strangeness of the economy that they developed under these circumstance would reflect all this. Technology is dependent on capital accumulation and update, which is dependent on the scope of trade, the degree of the division of labour, and the length of the structure of production.

    So the sort of economy a far-flung colony would wind up building would be most strange. Reflecting abundant energy yet a dearth of capital goods and labour.

    Its pretty ridiculous to think that nowhere in the galaxy have these sort of choices not been made already. Make no mistake about it. Here we have proof that the Venter technology is not new. Why would it be?



    • Please get fucked.


  28. What is your excuse for being a hateful racist pig?

  29. Mr Ritchie

    Are you a blackamoor?

  30. I’m a fan of Ritchie Blackmore, does that count?

  31. The stupid prick is asking for evidence that he knows cannot possibly be written out. He’s assuming that Lloyd Pye is inventing the entirety of his presentations. If he wants to say this outright, well that would be one thing, but he’d have to have an explanation as to how he had came upon this occult knowledge or naturally he would be wiped.

  32. I’m afraid that my thoughts that the Russians were involved, I now have to see as untenable.

    I could not bring myself to believe that Americans were involved, which is why I had to try and think who else could have technically carried this off and have gotten away with it.

    But in the end I had to come around to the reality that the BIG CONSPIRACY was indeed possible, and that American tax-eaters were indeed involved.

    One way you can keep out of trouble is simply to murder anyone who becomes important to the unmasking of the conspiracy. It will be interesting to see if they can keep it up. Its certainly easy for them to murder anyone they wish to. Under the cover of war they could murder a great many people.

  33. Mr Hanson


    There is no need for such foul language redolent of the proletarian classes and the mis-reared children of the flower children. There is enough cultural decadence without adding to it. It is sufficient to reveal the gross indecency of this tanned interloper. It more than speaks for itself.

  34. 1. Prove to me that the chemical constituency of the hybrid skull is NOT akin to tooth enamel.

    2. Prove to me that Craig Venters crowd ever managed to compile the entirety of the nuclear DNA of any human being.

    See you are full of shit mate. You don’t want to know about the evidence. You are not interested in evidence.

    Lets go back to another subject. How about that molten iron in all three basements.

    Surely its occurred to you by now that you are just a fuckwit who has no interest in evidence at all.

  35. Peer reviewed scientific papers that deal with supporting evidence. Why can’t you present this?

  36. See you are just a fuckwit Richie. You are just deciding to believe whatever you want to believe. You are asking me to provide what exactly????

    DNA code?

    And yet when I ask you to provide the same evidence to support the reality of Venters achievements it becomes obvious that you cannot do so.

    You are just a fucking moron mate.

  37. Well I’m sorry but he is a Stupid Cunt. I just call it as I see it.

  38. Look at the shabby disorganized way this fool approaches the paradigm.

    Clearly it cannot be a matter of Lloyd Pye making a wrong judgement. Or of Lloyd Pye somehow fooling himself. The evidence is so conclusive that to hypothesise that Lloyd Pye is wrong, suggests that he has bankrupted himself by constructing an elaborate fraud more than ten years in the making. And that everything he says here is made up.

    Now where is the evidence for this hypothesis?

    Its just not there.


    • Yes he does need to delete your posts because you were being a Stupid Lying Cunt.

  40. Its a bit of a shame really. I wanted to concentrate on economics. I didn’t really want to get into this aliens business. But the fact is that Lloyd found this hybrid skull.

    Its very much like this 9/11 business. I was quite happy with the idea that it was just a Middle East regime-assisted attack. But then I found out that there was molten iron in all three basements, and so had to look into matters further.

    One just has to make ones mind up to follow the evidence no matter what.

  41. Mr B, can you delete this lying filth?

    Or at least make the Stupid Cunt produce some evidence.

  42. At least he’s trying this time Ron.

    1. Aluminium doesn’t enter into this matter. Since the dead-terrorists alone theory cannot account for molten aluminium.

    2. Lord knows what your specific hypothesis is. But its important to state it, so that it may be tested. So far we don’t have an hypothesis from your vis a vis all the calculations. Seldom is there someone who can get things right by instinct alone and without good methodology. So what is the specific hypothesis you are testing.

    3. There were no reports of molten aluminium. Only of molten iron. Not steel, not aluminium, but rather iron.

    4. Test have been done to try and see if molten aluminium could have fooled people and produced the same molten iron colour. This was found to be untenable.

    5. A molten aluminium thesis, whatever the specifics of that thesis, is not going to account for the molten iron in the third building.

    6. A molten aluminium thesis, is not going to account for the microscopic iron spheres that were found. The spheres are the result of iron GASIFICATION, and the gas then returning to metal.

  43. You may have noticed that my posts are landing in the wrong order. My posts are landing upthread. You’ll have to scroll up to get my posts and scroll down to find the posts I’m reacting too.

    “Mr B, can you delete this lying filth?”

    Not this time Ron. He’s put a bit of effort in this time. He’s made some multiplications and thats all fine. But these beady-eyed maths-lizards, when they are confused, they sit alone in their room doing calculations. They think they are getting to the heart of a contemporary problem. Actually what they are doing has not the least bit to do with anything contemporary, topical, or of current events interest.

    You see what they are really doing, there in their room, with their trusty old Casio …… What they are doing is trying to relive their glory days.

    Their glory days as 11 year old maths adepts, that the 11 year old girls thought well of.

    Now of course you have to go back that far to get to their glory days. Since a couple, or at least a few years after that, these Rainman, semi-autistic types, had to bear witness to everyone else poking those same girls …………………………….. except for them.

    Hence these “Casio-Mashers” (your phrase Ron) think there is something deeply significant with the doing of lmaths divisions and algebra and stuff. And in any case, doing these simple calculations is pretty easy for them, and tends to cheer them up.

    Just like the fat kid, getting depressed and having another sandwich.

    So no I won’t wipe that one. But what I will insist, is that he comes up with a specific hypothesis, such that it may be tested in parallel with a few others.

    Since neither of us know precisely what happened, we need three or more paradigms to work with simultaneously. If we are going to work with two then we’ll have to split them up into a number of variants.

    Nothing can be achieved by a bunch of occult faux-skeptical dummies, insisting that the burden of proof is NOT with their stupid selves, and then them refusing to submit an hypothesis, whilst judging your paradigms, with their arms folded, attempting to make you jump through more and more hoops.

    This is unscience.

    This is the sort of lone paradigm curse that may have gotten one of our own lads (Mamdouh Habib) tortured in four countries, and for no good reason.

    We need better truth-seeking then the outrageous unscience of the burden-of-proof occult-epistemology. We need to treat ourselves, and our fellow Australians better, then to rely on a process of judgement, that lies under the cloud of the shadow of the curse, of the lone paradigm.

  44. Mr B

    Don’t get too sad about Dennis.

    I bet he’s up in heaven right now racking some rails with Carl and Benji. Maybe out back with Lee shooting a few tin cans with an old .22.

    • Thank you Ron. Your comments are a great comfort.

      Really with Hunter gone. Dennis gone also. In reality both of them murdered by socialist science and medicine.

      With these people gone who have I got left. Yes its true I loved Donna Summer and Stevie Nicks. But Stevie is looking kind of old hat. And I’ve not been able to track down Donna’s number after all this time.

      • “Really with Hunter gone. Dennis gone also. In reality both of them murdered by socialist science and medicine.”

        And don’t forget those Leftist Sons of Bitches who did in poor old Carl. Those Jew Bastards.

  45. Ritchie is obviously a CIA agent. I wouldn’t believe, or even read, a word he writes.

    • Pity Ritchie wasn’t a little more John Le Carre and a lot less John Grisham.

  46. piss off Ritchie if that is all you have to say. You’re just a destructive twit.

  47. Richie is it too difficult for you to explicitly put forward your hypothesis? Is that just a little bit too hard for you to do?

    If your idea has merit, then surely it will stand up to scrutiny. What is the claim you are making?

    Are you claiming that a whole lot of molten aluminium wound up in building 7? What makes you think this if so? It seems like a really dopey theory. If thats what happened, thats what the workers would tell have told us. I’ve not seen any workers making this claim.

  48. Actually one of the workers said molten steel. Molten aluminium is silvery not orange. As the tests show.

  49. Ritchie’s questions are naive, stupid and irrelevant Graeme.

    Delete unread is my advice.

  50. Virgo actually Ritchie.

  51. I don’t think so.

    Prove they are relevant or necessary to the outcome.

  52. Ritchie, either answer the question or Fuck Off.

  53. No the collapse of building seven wasn’t determined to have happened like that. What nonsense.

    So what is your hypothesis? You appear to be talking about aluminium, yet there was molten iron in all three basements. So where does this aluminium come into it?



  55. This is what we see from these morons always Ron. They wait awhile and then again fail to come up with an hypothesis.

    His hypothesis has to account for all the molten iron in all three basements. So he just waits awhile and tries to throw it back on me.





  58. Just a day or two a stupid old man said something that reminded me of a scene early on from the Godfather Part II. After the old guy with the raspy voice left, Michael notes that the old man drank too much. Meaning that the old bugger had talked too much and revealed too much to Michael.

    Now how could Don Argus have been so stupid? How could he have given the rort away? The reason is that Don has always been involved in rentseeking businesses. He started off in banking, and then moved onto resources. The four big banks of course are the biggest rentseekers in the Southern Hemisphere, with their central bank to help them shovel wealth away from the public, and to themselves, and their four bludgers policy ludicrously known as the “four pillars policy.” When you are involved in an unjustifiable cartel distract the public with an wholly inappropriate visual image.

    The resources industry involves many totally heroic smaller outfits, but is dominated by our big rentseekers, and Don Argus was Chairman of our biggest. That is to say BHP-BILLITON. So his entire experience near the top of big business he has been amongst the rent-seekers, and for him this is quite normal. A life of unearned wealth is corrupting to the individual. Here is what the stupid old man said:

    “Former BHP Billiton Ltd chairman Don Argus has hit out at criticism of executive pay in Australia, telling shareholders that if the have an objection to a company’s remunerationpackage than they should sell their shares, according toThe Australian Financial Review.

    According to the report, Mr Argus said that if there were no quality executives on a board, the company would struggle to produce value.

    “(Shareholders) have a right; they can sell the shares,” he said. “It’s as simple as that.”

    “If they are worried about executive pay, they shouldn’t be in the equity market.” “

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