Great chat with @DeSpencer_ thank you for having me on . Folks should keep an eye out for my new essay on how US transitions to gold back bonds , revaluing its reserves and resetting UST & US debt - due out in the next few days

I spent 35 years building banking systems for banks worldwide, including central banks. I know how banks decide where their money goes. When you build systems, you have to make them work, so you have to know how they work. The Basel Committee de-industrialised the countries that adopted its rules. It's that simple: I explain the whole complicated mechanism in my essay. They simply regulated it away because that was the most profitable thing to do. It was implemented in such a systemic global way, and nobody seemed to notice Capital is what a bank must hold before it can lend, the way a manufacturer or miner must hold supplies before it can sell. No miner doubles their costs to serve one group of customers. But that's what the banking system does to miners and manufacturers. Since 1988, the Basel rules have required banks to hold twice the capital against a factory loan as against a home loan, and under Basel III the gap reaches five times. So banks lend less to industry and more against houses. It should be stopped tomorrow. Manufacturing's share of GDP fell in ten of the eleven countries I examined. In Australia it fell from 13.7% to 5.4%. Every other country that followed fell as well. The only truly crafty ones were the Koreans, who did a good job of offsetting it. Regulators were warned in writing that the rule would steer credit, and they adopted it anyway. No parliament voted for it, and it's simply too dumb to keep doing, but we do . Not today; there is no justification. Yet from India, across Europe, across the US, including Australia, sanctions against industrial capacity. Financialization has gone too far it needs to be reviewed . The charge is manslaughter by gross negligence. The mechanism is proven. Same Rules, Different Ruins:ctindale.substack.com/p/same…

I don’t care how he did it or whether it’s applicable to a Tesla in the future, he just had a car driven upside down using a fan suction system and then it did a 200ft kick flip for a horizontally landing that had perfect forward momentum . It heralds a lot more to come .

This guy burnt his ex’s house to the ground , killing all her pets and didn’t get a prison sentence ? What is happening is a disconnection between those who govern and normal folk . They apply their own standards and ideology independently of public expectation . smh.com.au/national/nsw/how-…

You might remember a while back I wrote some essays on enterprise inertia , the inertia that is required for society , business and people individually to make a major change , a company might still want to keep your accounting system and accountant not move to AI etc . You like your cleaner you don’t want to change to a robot . You’d rather drive your own car .

Seriously : what is going on .