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bernorange

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Posts posted by bernorange

  1. Wordle 1,012 5/6

    🟩⬜⬜⬜🟨
    🟩🟩⬜⬜⬜
    🟩🟩⬜⬜⬜
    🟩🟩⬜🟩🟩
    🟩🟩🟩🟩🟩

    Boo!Β  smh

    Daily Quordle 793
    6️⃣7️⃣
    4️⃣5️⃣
    m-w.com/games/quordle/
    ⬜⬜⬜🟨⬜ ⬜⬜⬜⬜⬜
    ⬜⬜⬜🟨⬜ 🟩⬜🟨⬜⬜
    🟨🟨⬜⬜⬜ 🟨⬜⬜⬜⬜
    ⬜⬜🟨⬜⬜ 🟩⬜⬜⬜⬜
    ⬜⬜🟨⬜⬜ ⬜⬜⬜⬜⬜
    🟩🟩🟩🟩🟩 ⬜⬜⬜🟨⬜
    ⬛⬛⬛⬛⬛ 🟩🟩🟩🟩🟩

    🟨⬜⬜🟨⬜ ⬜🟩⬜🟨⬜
    🟩⬜⬜⬜⬜ ⬜⬜⬜⬜⬜
    ⬜⬜⬜🟨🟨 ⬜⬜⬜🟨⬜
    🟩🟩🟩🟩🟩 ⬜⬜🟩⬜🟩
    ⬛⬛⬛⬛⬛ 🟩🟩🟩🟩🟩

    Daily Sequence Quordle 793
    4️⃣5️⃣
    6️⃣7️⃣
    m-w.com/games/quordle/
    ⬜⬜⬜⬜⬜ ⬜⬜⬜⬜🟨
    ⬜🟨⬜⬜⬜ ⬜⬜⬜⬜🟩
    ⬜⬜🟨🟨🟨 ⬜⬜🟨🟩⬜
    🟩🟩🟩🟩🟩 ⬜⬜🟩🟨⬜
    ⬛⬛⬛⬛⬛ 🟩🟩🟩🟩🟩

    ⬜⬜🟨⬜⬜ ⬜⬜⬜⬜⬜
    ⬜⬜⬜⬜⬜ 🟨⬜⬜⬜🟨
    ⬜🟨🟨🟨⬜ 🟨🟨⬜🟨⬜
    ⬜⬜🟩🟨⬜ ⬜⬜🟨⬜⬜
    🟩⬜🟩⬜⬜ ⬜⬜🟨⬜🟨
    🟩🟩🟩🟩🟩 ⬜⬜🟨🟨⬜
    ⬛⬛⬛⬛⬛ 🟩🟩🟩🟩🟩

    ClickWord.org Daily 417: 860 points (top 1% πŸš€)
    10 words:
    βš›οΈβš›οΈβš›οΈβš›οΈπŸŸͺπŸŸͺπŸŸ₯🟧🟩🟩
    πŸ’ͺ Best word: 262 points
    πŸ”₯ Streak: 3 days

    #ClickWord #ClickWordDaily417

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  2. * bump *

    Water is wet

    Quote

    Long-run price stability could be a key feature of the gold standard, researchers with the Federal Reserve Bank of Philadelphia find.

    In their working paper, published in February, Jesús Fernández-Villaverde and Daniel Sanches explore how the gold standard would operate as a monetary framework in a hypothetical small open economy ...

    https://www.centralbanking.com/central-banks/monetary-policy/7961027/switch-to-gold-standard-could-stabilise-prices-philadelphia-fed-research

    Here's the paper:

    Quote

    We present a micro-founded monetary model of a small open economy to examine the behavior of money, prices, and output under the gold standard. In particular, we formally analyze Hume’s celebrated price-specie flow mechanism. Our framework incorporates the influence of international trade on the money supply in the Home country through gold flows. In the short run, a positive correlation exists between the quantity of money and the price level. Additionally, we demonstrate that money is non-neutral during the transition to the steady state, which has implications for welfare. While the gold standard exposes the Home country to short-term fluctuations in money, prices, and output caused by external shocks, it ensures long-term price stability as the quantity of money and prices only temporarily deviate from their steady-state levels. We discuss the importance of policy coordination for achieving efficiency under the gold standard and consider the role of fiat money in this environment. We also develop a version of the model with two large economies.

    https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4744246

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  3. Wordle 1,011 4/6

    ⬜⬜⬜⬜⬜
    ⬜⬜🟨⬜⬜
    ⬜🟩🟨🟨⬜
    🟩🟩🟩🟩🟩

    Considering the start, happy to get that one on guess #4.

    Daily Quordle 792
    4️⃣5️⃣
    6️⃣7️⃣
    m-w.com/games/quordle/
    ⬜⬜🟩⬜⬜ ⬜⬜⬜⬜⬜
    ⬜⬜🟨⬜⬜ 🟨⬜⬜⬜⬜
    🟩⬜⬜🟩🟩 ⬜🟨🟨🟨🟨
    🟩🟩🟩🟩🟩 ⬜⬜⬜🟨🟨
    ⬛⬛⬛⬛⬛ 🟩🟩🟩🟩🟩

    🟨⬜⬜⬜⬜ 🟩⬜⬜🟨⬜
    ⬜⬜🟨⬜⬜ ⬜⬜🟨⬜⬜
    🟨🟩⬜⬜⬜ ⬜⬜⬜⬜🟨
    🟨🟨⬜⬜⬜ ⬜🟨⬜⬜🟨
    ⬜⬜🟨⬜⬜ ⬜⬜⬜🟨⬜
    🟩🟩🟩🟩🟩 ⬜⬜⬜🟩🟩
    ⬛⬛⬛⬛⬛ 🟩🟩🟩🟩🟩

    Daily Sequence Quordle 792
    4️⃣5️⃣
    6️⃣7️⃣
    m-w.com/games/quordle/
    🟩⬜⬜⬜⬜ 🟨⬜⬜⬜⬜
    ⬜⬜🟩⬜⬜ ⬜⬜⬜🟨⬜
    ⬜🟩🟨⬜⬜ ⬜⬜⬜🟩⬜
    🟩🟩🟩🟩🟩 🟨⬜⬜⬜⬜
    ⬛⬛⬛⬛⬛ 🟩🟩🟩🟩🟩

    ⬜⬜🟩🟨⬜ ⬜⬜⬜⬜🟨
    ⬜⬜🟨⬜⬜ ⬜🟨⬜⬜⬜
    ⬜⬜⬜⬜⬜ ⬜⬜⬜🟩🟩
    ⬜⬜🟨⬜⬜ ⬜⬜⬜⬜⬜
    ⬜⬜⬜⬜⬜ 🟩⬜⬜🟩⬜
    🟩🟩🟩🟩🟩 ⬜⬜⬜⬜⬜
    ⬛⬛⬛⬛⬛ 🟩🟩🟩🟩🟩

    ClickWord.org Daily 416: 574 points (top 20% 🎊)
    9 words:
    βš›οΈπŸŸͺπŸŸͺπŸŸͺ🟧🟧🟧🟨🟨
    πŸ’ͺ Best word: 322 points
    πŸ”₯ Streak: 2 days

    #ClickWord #ClickWordDaily416

    I took some risks and they didn't quite pay off.Β 

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    • Like 3
  4. 29 minutes ago, Texzilla588 said:

    ... Marc Murphy is a good dude who just makes bad decisions in competition.

    MM has a narrow lane (French-Italian) and is really good when he is able to stay inside of it.Β  Hand him some hot peppers and he's clueless.

    • Like 1
  5. So in addition to potential approval of spot Ethereum ETFs in May, the UK is opening doors for institutional investment in cryptos:

    Quote

    The London Stock Exchange has announced that it will accept applications for the admission of Bitcoin Crypto Exchange-Traded Notes (ETNs) starting from April 8, 2024. This decision follows the Exchange's earlier notice on March 11, indicating its intention to allow the trading of Crypto ETNs in the second quarter of the year.

    Subject to approval by the Financial Conduct Authority (FCA) of the base prospectuses, the Exchange plans to commence trading of these ETNs on Tuesday, May 28, 2024. This move is aimed at ensuring maximum issuer participation on the first trading day and allowing issuers sufficient time to prepare their documentation and meet regulatory requirements.
    ...

    https://bitcoinmagazine.com/markets/london-stock-exchange-to-launch-bitcoin-etn-market-in-may

    ^^ BTCmagazine made it seem like this was BTC only, but the LSE announcement says:

    Quote

    1. Further to Stock Exchange Notice N02/24, published on 11 March 2024, in which the London Stock Exchange (the "Exchange") announced it would accept applications for the admission to trading of Bitcoin and Ethereum Crypto ETNs in the second quarter of 2024, we can confirm that applications can be made from 8 April 2024.
    ...

    https://www.lse.co.uk/rns/n0324-admission-of-bitcoin-and-ethereum-etns-0ru4pz13dx7so39.html

  6. 5 hours ago, InkaUtexas said:

    I moved from a mac to a PC. I prefer the mac, but work. One thing I have noticed. When I click on a notification I have a quote responding to my comment it takes me to the bottom of the page. Any thoughts?

    Happens to me all the time - most noticeably in threads that have embedded media.Β  It looks to me like the lazy loaders do not calculate the vertical space for the embed properly, so the page kind of jumps around as it loads and eventually ends up a bit off from where the last post read line actually is.

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  7. Quote

    BlackRock today unveils its first tokenized fund issued on a public blockchain, the BlackRock USD Institutional Digital Liquidity Fund (β€œBUIDL” or the β€œFund”). BUIDL will provide qualified investors with the opportunity to earn U.S. dollar yields by subscribing to the Fund through Securitize Markets, LLC.

    β€œThis is the latest progression of our digital assets strategy,” said Robert Mitchnick, BlackRock’s Head of Digital Assets. β€œWe are focused on developing solutions in the digital assets space that help solve real problems for our clients, and we are excited to work with Securitize.”

    Tokenization remains a key focus of BlackRock’s digital asset strategy. Through the tokenization of the Fund, BUIDL will offer investors important benefits by enabling the issuance and trading of ownership on a blockchain, expanding investor access to on-chain offerings, providing instantaneous and transparent settlement, and allowing for transfers across platforms. BNY Mellon will enable interoperability for the Fund between digital and traditional markets.

    β€œTokenization of securities could fundamentally transform capital markets. Today’s news demonstrates that traditional financial products are being made more accessible through digitization. Securitize is proud to be BlackRock’s transfer agent, tokenization platform and placement agent of choice in digitizing and expanding access to its investment products,” said Securitize co-founder and CEO Carlos Domingo.

    BUIDL seeks to offer a stable value of $1 per token and pays daily accrued dividends directly to investors' wallets as new tokens each month. The Fund invests 100% of its total assets in cash, U.S. Treasury bills, and repurchase agreements, allowing investors to earn yield while holding the token on the blockchain. Investors can transfer their tokens 24/7/365 to other pre-approved investors. Fund participants will also have flexible custody options allowing them to choose how to hold their tokens.

    The initial ecosystem participants in BUIDL include Anchorage Digital Bank NA, BitGo, Coinbase, and Fireblocks, among other market participants and infrastructure providers in the crypto industry.

    BlackRock Financial Management, Inc., will be the investment manager of the Fund and Bank of New York Mellon will serve as the custodian of the Fund’s assets and its administrator. Securitize will act as a transfer agent and tokenization platform, managing the tokenized shares and reporting on Fund subscriptions, redemptions, and distributions. Securitize Markets will act as placement agent, making the Fund available to eligible investors. PricewaterhouseCoopers LLP has been appointed as the Fund's auditor for the period ending December 31, 2024.

    The Fund will issue shares pursuant to Rule 506(c) under the Securities Act of 1933 and Section3(c)(7) of the Investment Company Act. The Fund’s initial investment minimum is $5 million.

    BlackRock has also made a strategic investment in Securitize. As part of the investment, Joseph Chalom, BlackRock’s Global Head of Strategic Ecosystem Partnerships, has been appointed to Securitize’s Board of Directors.

    https://www.businesswire.com/news/home/20240320771318/en/

    It sounds like a USD stablecoin where wallets/participation is tightly controlled.

    Β 

  8. 12 hours ago, Js1 said:

    Bro it’s Netflix. It’s always all of themΒ 

    I've watched several shows (mostly Korean stuff) that dropped new episodes weekly on Netflix.Β  They don't always drop everything at once.Β  For example, they only dropped 4 episodes so far for Physical 100 season 2.

  9. Quote

    Investment management giant BlackRock (BLK) has created a fund called the BlackRock USD Institutional Digital Liquidity Fund, according to a document filed with the U.S. Securities and Exchange Commission (SEC).

    The fund, incorporated in the British Virgin Islands, will be launched in partnership with asset tokenization firm Securitize.

    The filing does not reveal what assets the fund will hold, but Securitize's presence potentially suggests the product has something to do with the tokenization of real-world assets, or RWA – industry jargon for representing ownership of a wide range of assets through a token on a blockchain. ...

    https://www.coindesk.com/policy/2024/03/19/blackrock-creates-tokenized-asset-fund-sec-filing-shows/

    Β 

  10. On 10/11/2023 at 1:55 PM, Rimbo said:

    Hmmm. But now you've reopened/left unsolved the scaling problem.

    Quote

    March 20: Mysten Labs, the company behind the Sui blockchain, claimed a "landmark achievement in scaling blockchain capacity" known as "linear scaling," according to the team: "During testing and development in a Sui blockchain environment, Pilotfish, a prototype Sui extension, increased throughput by 8x when backed by 8 machines, successfully illustrating the possibility of linear scaling. The latency per transaction decreased as more machines were added, proving the viability of linear horizontal scaling for low latency blockchain transactions for the first time ever on any blockchain." (SUI)

    https://www.coindesk.com/tech/2024/03/14/protocol-latest-tech-news-crypto-blockchain/

  11. Quote

    If you want an idea of how the current fiscal and asset bubble in the US might end, pay close attention to Bernard Connolly, esteemed consigliere to hedge funds and central bankers across the world for the last quarter century.

    It will not end in a soft landing – a β€œchimaera” – and will certainly not end in another leg of accelerating economic growth. Nor will it end in soggy stagflation.

    The invidious choice facing the Federal Reserve, he warns, is either to allow a deep economic slump to unfold, or slash rates to the bone before inflation has fallen back to target. The latter course will send the dollar into free fall and destabilise the world’s dollarised financial system, an outcome already being sniffed out by the reawakening gold market.
    ...
    β€œThere can be little doubt that there will be a US recession unless the Fed loosens hard and soon. The labour market is weakening and β€˜excess savings’ from the pandemic-era handouts are exhausted,” he said.

    β€œThe likeliest near-term outcome is that, as in 2000 and 2007, the Fed holds off cutting interest rates just yet, citing worries that inflation is not convincingly and sustainably moving to target. By mid-year the weakening of the economy will have become evident even to the Fed’s modellers. But they will not cut far enough or fast enough,” he said.
    ...
    This points to an initial rate cut in June, followed by cascading cuts in rapid succession, though still too little, too late. The Fed Board is already preparing for a hand-brake U-turn. Governor Adriana Kugler recently reminded everybody that the Fed has a β€œdual mandate”: jobs as well as inflation.

    Days earlier, New York Fed chief John Williams said the supply-side shock of the pandemic had blown over and that US inflation had carved out a near perfect round trip, β€œlike the Apollo missions to the moon and back.” He said three-year inflation expectations are now below their 2014-2019 average. This is a Fed preparing its alibi.

    As I wrote last week, the US economy has lost a net 900,000 workers since November, based on the US household survey. This has lifted unemployment from 3.4pc to 3.9pc. The jump is close to triggering the Fed’s β€˜Sahm Rule’ recession indicator.

    The US economy is not as strong as widely assumed. The latest US financial accounts show that gross domestic income (GDI) grew by just 1.2pc last year. This measure has been consistently weaker over recent quarters than the GDP figure, which ought to give pause for thought.

    A Fed study found that GDI is more accurate when the economy rolls over. It foretold a recession in 2007 at a time when the GDP figures (revised down later) were still signalling clear blue sky.
    ...
    The Wicksellian theme running through Mr Connolly’s book is that central banks have created a chronic β€˜intertemporal’ misalignment in the western economies, starting with Alan Greenspan in the 1990s.

    They have let asset booms run unchecked but have always stepped in to prevent the economy coming back into balance during downturns. But you cannot pull consumption from the future forever without consequences. The future catches up with you.

    β€œThe real difficulty with the Greenspan maxim – that a problem deferred is a problem solved – is that you have to keep on deferring, via ever-bigger bubbles that ultimately threaten to destroy both capitalism and democracy,” he said. Furthermore, this reflex obstructs the Schumpeterian cleansing process of creative destruction.

    As Joe Biden’s budget boom deflates this year it will become clear that the US economy cannot handle interest rates anywhere near the current level of 5.33pc. America and the West will discover that they are on the same conveyor-belt towards β€œever-lower real interest rates”, requiring drastic cuts to refloat the next bubble in equities and credit.

    My angle is slightly different. Deflation will keep coming back to haunt us with each cycle – requiring zero rates and crazy money – because of ageing demographics, digital technology, and above all the Asian saving glut.

    The cardinal fact is that China produces 31pc of global manufactured goods but accounts for 13pc of total consumption. Xi Jinping’s regime is dumping massive excess capacity on the rest of us. It is reverting to the worst practices of Leninist capitalism. This is the elephant in the global rowing boat.

    Whether Mr Connolly is right or savings glut theorists are right, both imply a secular collapse in the natural rate of interest and the subversion of western free market system.

    The central banks and the academic priesthood are floundering because their canonical DSGE model – new neoclassical synthesis – assumes that the economy comes back into equilibrium when it patently does no such thing. The model is self-evidently defective but all other voices – Wicksellian, monetarist, Austrian, or old Keynesian – have been shut out of the debate.

    The priests were badly wrong in 2007-2008. We will find out who is badly wrong this year soon enough.

    https://www.telegraph.co.uk/business/2024/03/19/central-banks-face-horrible-choice-warns-bernard-connolly/

    @52-80- Real Estate valuations are affected by credit/debt markets and other factors that act as multipliers on the inflation base.Β  If the Fed continues QT through the coming storm, real estate is going to crash hard.Β  $.02

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