As a service to society, I swear that I will stop baiting Dilip if he stops attempting humour.
Is that your way of keeping eternal hope?
Maaan, thank you so much for this, RaviKiran. Ever since this post, I wanted somebody to take down his painfulest humour.
just in case he goes and deletes that post now (hes done that when I challanged him once), Ill copy-paste it below —
Said ingest, with onion
Today, I shall do you all a big favour. I am going to explain the blubbertarian position on ingest to you. I realize you didn’t ask, I also realize you don’t care. But I know I have this knowledge, and I have to give it to you, and so I am doing just that. (Giving it to you).
Let’s first define what we mean by ingest. There are two possible meanings.
First, it means doing something for fun. Like for example: “Kanakadurga told me I was an idiot ingest.” Meaning, Kanakadurga was only joking when she told me I was an idiot. (The real joke is, of course, on her. Because I really am an idiot).
(The rest of the post has been redacted by me out of respect for my reader’s sanity and Dilip’s copyright. Interested readers may click on the link. – Ravikiran)
PS Yes I know I said I would not visit again. I couldnt resist after I heard abt this takedown.
I always knew that my lure is irresistible.
May be you should use Deo. Just sayin ….
Can I sue axe?
Whatever happened to the banking system series? It was shaping up nicely like this book for electronics. I was beginning to think Arjun Banker was the transistor man of economics. If you found this funny, credits to me, else blame it on remy martin.
Please don’t continue that series, I didn’t understand any of it, which lowered my self esteem, and which made me hate you even more.
Anyhoo, as long as you are on this Banking thing.
1. Does your analysis (of monetizing or whatever) apply to Gold Standard as well ?
2. Do you think that people like Ron Paul, who believe that the trials and tribulations of current American economy are because the Americans deviated from God’s path (i.e. Gold Standard), kooks ? 
 Reading the smartest woman, she doesn’t seem to be very fond of Ron Paul or his policies. High concept she says.
 I read about Gold Standard on wiki. Though I think I can understand why people may like it, there was no bolt as far as I was concerned .
 A more accurate representation of Ron Paul’s position is to allow competing currencies. I have never followed his policies in detail though, because he looks like a mouse. No one can take a mouse seriously (except for John Galt, who thinks Ron Paul is a “Moderate” Republican)
The banking series will continue after the break.
Gaurav, your first question saddens me because the answer to that question should have been clear from the series by now.
As to your second question: No, I don’t think that they are kooks, but I disagree with their contention. My own feeling is that the gold standard is fine, does some good and does not much harm.
I am not knowledgeable enough to understand whether monetary policy as practised by responsible central banks like the Fed do more harm than good on the balance. But most sensible people agree that even if it does harm, it does not do too much harm. The only alleged benefit of the gold standard is that it will prevent Zimbabwe-style irresponsibility. But against a government like Mugabe, no constitutional standard will work.
So overall, I don’t see it as an issue to get too worked up over.
As to competing currencies, the only real benefit of having them is that we will end up in a de facto gold standard. Not worth the transition.
You blog wearing Axe !
“Gaurav, your first question saddens me because the answer to that question should have been clear from the series by now”
What can I say ! Unintelligence of high order, a condition common to humanity, is my only excuse
PS Since we are on suing, can you write something on tort and to what extent advertisements are implicit contracts (which even I can understand).
Thank you Ravikiran for the banking series. I am not sure what you can add to it. To me, it seems complete the minute I read that the debt finances future productive capacity of a community.
Although it seems to give banks a lot of power, it doesn’t have the scam like quality portrayed in several documentaries on youtube and which I was reasonably convinced about until I read Greenspan’s book very recently. Your blog mini series helped me understand the system a little more.
“Although it seems to give banks a lot of power”
That is going to be the next question. Who gave the bank in question the power to decide exactly how much the community should invest in productive acivities?
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