Then you got the computer and when it started up you got a flashing K. It was a bit of a disappointment. But you flicked open the hefty manual, started reading and before long you were hooked.

One career later, I now have a computer that is very, very close to what I wanted all those years ago but with a significant and irritating genie attitude to granting my wishes.

Now if we can just tone down the genie stuff…

Then you didn't bother to read, or understand, my argument.

In particular this bit: "remembering that like code it is write once and read many. What the reader needs should be at the forefront of a writers mind - both for code and prose."

Are you sure you haven't got to the stage where you don't read anything properly at all?

Are you from West Yorkshire? I am.

I went to school in Batley and I've been past the steeple at Cooper Bridge many times.

Given much of my family were mill workers, the Luddite tale is very much part of who I am.

What we are seeing here is a Luddite reaction from artisans. A skill has been automated and those that have the skill are not happy about it.

For many writing is painful and the machines ease the pain. And like all machines it takes a while to use them skilfully. In particular remembering that like code it is write once and read many. What the reader needs should be at the forefront of a writers mind - both for code and prose.

Nobody gets on a motorbike and wins the TT in the first weekend.

And there is little hierarchy required if a bunch of people are tasked with stripping you of your assets and your liberty unless a specific type of token is delivered at a particular time.

That branch of religion has better uniforms anyway.

If you buy an AI issue, then the AI company has the bank deposit and the bank still has the matching reserves needed to buy government bonds in the primary market. All that changes is the ownership tag on the bank deposit.

If you follow the accounting in a floating exchange rate system you’ll find they don’t.

Find me a banker that will turn down free basis points and I’ll show you a pink unicorn.

The capital ratio is 20%. I sell $20 of capital in exchange for $20 of deposits which are deleted.

And then I do the same tomorrow.

All ratios met. No limit on loans.

There’s no hard limits. They are ratios which are preprepared because a bank knows how big its sales pipeline is and that takes time to complete.

Nothing is limited in quantity. Even the silly SLR they have in the US is a pricing limit, not a quantity - as we see every time somebody moans about how much the deficit has gone up.

You can sell that debt on to somebody else in exchange for goods and services.

That’s all money is - a circulating debt.

Liability side controls don’t work.

Nvidia is vendor financing its output.

An ai company order $100m of GPUs. Nvidia delivers and holds onto that debt as an asset - like a bank loan.

The production company uses AI to create better plant and purchases $100m of AI tokens to do so. The ai company hold that debt like a bank loan

Nvidia requests $100m of production based on its $100m of orders. The production company holds that debt like a bank loan.

You now have a monetary loop. Take a single $10 bank deposit and Nvidia pays the production company, who pays the ai company who pays Nvidia. Run that round the circle a few million times and everybody has been paid.

Rinse and repeat.

It’s been zero in the UK for hundreds of years.

Quite why this persists when the Bank of England debunked it in 2014 [0] is anybody’s guess.

Just another of those concepts that is neat, plausible and wrong.

[0]: https://www.bankofengland.co.uk/quarterly-bulletin/2014/q1/m...

Perhaps it is time to recognise that this literal Mickey Mouse law needs to be rebalanced more in favour of the public than the monopolist, as that creates better societal outcomes.

But interestingly still extremely valuable on the second hand market.

The capital expense isn't the amount laid out. It's the rental cost of obtaining that capital, less the depreciation on the fixed asset over the period in use.

Going back to the OP, Apple gear is well know for having good resale values, which means the capital outlay isn't anywhere near as much as some people think.

The LVT doesn’t work for the fairly simple reason that value is in the eye of the beholder and requires a bureaucracy, tax is paid from income and rich people have power and therefore just put the prices up to recover the extra cost, which they can do because there are fewer jobs than people that want them.

Legal tax incidence != economic tax incidence

Taxation by estate agent is a non-starter in any democracy. Nobody likes real estate people to start with.

It’s scaremongering nonsense.

All treasuries will be swapped back into dollars on maturity and interest settled