Be careful of which mental models you choose to use. Wrong doesn't mean stupid. Smart people can be very wrong. "We recognized early that very smart people do very dumb things, and we wanted to know why and who, so we could avoid them." - Charlie Mungerhttps://twitter.com/MimeticValue/status/1015402385714368512 …
point is that except for this premium money is a fin asset like any other. a bank deposit for eg has an interest rate and an associated cash-flow that can easily be valued. it finances a portfolio of assets on the banks balance sheet that can also be valued. so not purely memetic
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I don't see how it negates what I've said. Yes, banks use deposits for investments. So what?
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To say that there exists a non-mimetic component is to say that there exists a non-behavioral component, which means that it involves a consumable good lower on Maslow's hierarchy of needs. This is true for stocks/bonds of companies in such industries.
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Vimothy is a crypto-marxist
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Well, I don't care what he identifies as. I just want to understand if he's saying something that makes sense.
End of conversation
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