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Showing posts from October, 2019

Central Banks and the Bitcoin Experiment

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Money has gone digitalMoney has gone digital.  Less than 3% of currency these days is in the form of cash (coins or paper bills).  I still struggle to understand bitcoin, but I have slowly come to realize that what I don't fully understand are the technological aspects of bitcoin.  To understand bitcoin, you must first understand blockchain. To understand blockchain, you need to know about open-source coding, algorithms and cryptography, then you need to know about hashing and CPUs in order to understand what "mining for bitcoins" means (although I get that "mining" means solving a math puzzle and allowing transactions to use your computer).  However, these lacunae in our technological knowledge notwithstanding, bitcoin is just like any other digital currency (keeping in mind that the US dollar, for example, is already 97% digital) with only one truly significant difference.  Every example of money that we accept without much thought is managed and manipulated…

There's Hypocrisy, and Then There's Scheer Hypocrisy

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Andrew Scheer has dual citizenship.  So what?When I heard the "breaking news" that Andrew Scheer, leader of the Conservative Party, and potentially Canada's next Prime Minister in a couple of weeks from now, held dual citizenship, I thought, "big deal; so what?"  We're not like those Americans obsessed with national homogeneity:  obsessed with President Trump's (aka Drumpf) being German, or obsessed with President Obama's birth certificate and Kenyan father, or obsessed with presidential-hopeful Senator Ted Cruz being born in Canada.  We believe in the Canadian multicultural mosaic in contrast to the assimilation of the American melting pot.





Dual citizenship versus hypocrisyI disagree with Andrew Coyne who finds dual citizenship--not the blatant hypocrisy--to be the essence of the problem.  I would go so far as to claim that dual citizens are a net gain for Canada, making us a hub of international networks beneficial to our national interests in a…