Rufus 🔗 @Bitfus

Your steam engine is British. Your Industrial Revolution is British. Your railway is British. Your underground railway is British. Your modern railway timetable is British. Your suspension bridge is British. Your iron bridge is British. Your modern lighthouse is British. Your marine chronometer is British. Your global time standard is British. Your time zone starts at Greenwich. Your telephone is Scottish. Your television is Scottish. Your radar is British. Your jet engine is British. Your tank is British. Your programmable computer is British. Your World Wide Web is British. Your fibre-optic communications were pioneered by a Briton. Your modern telecommunications network was transformed by British inventors. Your antibiotics are Scottish. Your vaccination programme was pioneered by an Englishman. Your modern nursing profession is British. Your public sanitation system is British. Your modern sewerage system is British. Your clean drinking water infrastructure was pioneered by Victorian Britain. Your weather forecast is British. Your life boat service is British. Your modern fire service was pioneered in Britain. Your parliamentary democracy is British. Your constitutional monarchy is British. Your common law is British. Your independent judiciary is British. Your trial by jury is British. Your presumption of innocence is British. Your habeas corpus is British. Your rule of law is British. Your modern police force is British. Your modern civil service is British. Your modern banking system was shaped in Britain. Your central banking model was shaped by the Bank of England. Your stock exchange model was pioneered in London. Your global insurance market was built at Lloyd's of London. Your international maritime law was shaped by Britain. Your global trade routes were mapped by Britain. Your anti-slavery patrols were British. Your modern university model was influenced by Oxford and Cambridge. Your scientific societies were pioneered by Britain. Your peer-reviewed science was advanced by British institutions. Your laws of motion are English. Your theory of evolution is English. Your economics is Scottish. Your electromagnetism was transformed by a Scot. Your geology was pioneered by Scots. Your thermodynamics was advanced by Britons. Your stainless steel is British. Your carbon fibre is British. Your steam turbine is British. Your hovercraft is British. Your ATM is British. Your cash machine is Scottish. Your postage stamp is British. Your modern postal system is British. Your football is English. Your rugby is British. Your golf is Scottish. Your tennis was codified in Britain. Your badminton was codified in Britain. Your cricket is English. Your worldwide language is English. Your newspapers were shaped by Britain. Your global news agencies were pioneered by Britain. Your public broadcasting model is British. Your music charts are British. Your modern popular music owes a great deal to Britain. Your neighbour may be an immigrant. But a fair chunk of the modern world is British. Pull yourself together.

An angle on the forthcoming AI IPO frenzy you probably haven't heard.... roundthinking.substack.com/p/actual-gener…

@dotkrueger STRC puts a target on Bitcoin’s forehead. Discuss.

Looking forward to meeting everyone at this

Tim Kotzman @TimKotzman

3 weeks ago

Tomorrow. 🇬🇧

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May 1st: Electorate says No to Labour May 20th: Supermarket CEOs say No to Labour May 2026: EU says No to Labour May 27th: Labour says No to Labour "Deaf to the Polls, Dumb to the Story, Blind to the Mirror": essay: tinyurl.com/2a8y8k8v

[2/2] Who actually owns the rain? The wind off the Scots coast? The oil beneath the rocks? Nobody is asking. New essay: tinyurl.com/43nva725

Andy Burnham wants the state to run your water. John Swinney wants the state to cap your milk, cheese and eggs. Rachel Reeves is asking Tesco to freeze the rest. This is the same old thinking in three different tones. The fail is far from unique to Lab or to this govt [1/2]

@PeterMcCormack Nailed it. For those that don't get it, background & answers here: tinyurl.com/4h3cc8u7

As go the Tories, so goes Labour. Another leadership debacle killing the UK softly. The bond market is boss and would punish whoever came next. The question is why. The answer is here: tinyurl.com/4h3cc8u7

A little econ 101 for the silly socialists. The natural state of the economy is deflationary. As humans we innovate, we become more productive so everything ‘should’ get cheaper to produce. Well it does, everything you see getting more expensive is getting cheaper to produce but the inflation of the money supply is causing prices to go up. So what is the mechanics of this, the two primary ones are: 1. Governments keep running deficits because democracy rewards them for lying and spending. 2. Banks create money out of thin air through lending and the people closest to credit get it first. Asset prices pump and wealth shifts toward those who already have assets. When things go up in price, say energy due to war, this is not inflation. Some politicians say it is, but they are lying or stupid. That’s a supply shock. Inflation is always and everywhere a monetary phenomenon. Inflation is good for the state, it wipes away their debt. The mechanics of inflation are good for the rich, because they have assets. Inflation is terrible for everyone else - products get smaller, ingredients get worse and prices go up. It’s how companies manage inflation. Inflation forces dependency policies so people can scrape by - minimum wage, energy caps, renters rights. They are demanded by the public. But this the slow hollowing out of society, it is what breaks everything which is good. It puts pressure on a system which takes us from high trust to low trust. Why do I make fun of @zackpolanski and the socialists? Because they will run this experiment on crack. The Green’s model as far as I can see is: - Attack the productive class - Reward the unproductive class The problem with this is the rich will leave, the ambitious may leave and they will face the same question as both Labour and the Conservatives which is how do we pay for this? They will either have to raise taxes or borrow (print) more money, which accelerates the problem. So we will get lower productivity, higher taxes, more borrowing and guess what, more inflation. This is the exact mechanics which have destroyed every socialist state. I get it, socialism sounds warm and fuzzy - nobody should go without, free stuff for everyone. But the end result is poverty and misery, as it has been every single time. If you want jobs, good, medicine then you need a growing and prosperous economy which means unshackling the entrepreneurs. There is no other option on the table. It is the only thing that has ever worked. I haven’t voted in three elections. I will only vote if someone comes with a real economic plan which means a chainsaw to the state and driving growth.

@PeterMcCormack Superbly clear. There should be a diversity policy for businesses! Small and large please. Alternatively, and more effectively, MUCH smaller government please.

A minimum wage of £15 would end my coffee shop, it would have to close, as would many other businesses. I’ll explain for the economically illiterate. Staff costs are currently half our costs, a £15 minimum wage is actually more than £15 an hour for the company, because you have to add: - 12.07% holiday - Sick pay - Maternity pay if and when required - National insurance - Pension contributions These costs would mean the shop loses money because remember, energy costs are up, rates are up, regulations are up. Now you can pass these costs onto the consumer - that would mean charging a lot more for coffee, people won’t pay it. The likes of Starbucks and Costa can, because they have economies of scale. The independent doesn’t. Now the little socialist will say well this is your fault, if you can’t run a business that can afford to pay its staff properly, but the little socialist has never run a business and does not understand the dynamics. Now I could pay some staff off and fill those hours myself or reduce us to one staff member during certain periods - but this proves the point that a minimum wage costs jobs. There was a time when these jobs were done by kids, perhaps on the weekend, paid a lower wage, no holiday and no silly employment rights. Perhaps they were even paid cash. The dynamic worked and small businesses like this could operate. It was also a great first job. Sadly now it isn’t worth employing entitlement youngsters at this level of pay. So alas, I don’t need the stress, the business would close, a number of jobs would be lost. Economics is about understanding these dynamics, no vibes. The cost of living is not solved through passing on inflation to the business, it is solved by ending high inflation and creating prosperity. This is what socialists don’t understand, they can’t create prosperity, they can only destroy it.

Harry Eccles @Heccles94

a month ago

The Greens will raise the minimum wage to £15 for all workers 💪

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@freddienew @TonyWard867811 tinyurl.com/4fu2b8vf Synchronicity..there must be something in the air

The religion of modern finance and its foreboding trajectory. Interest rates on hold everywhere this week, but the tone is hawkish. Here I lay out the arithmetic — and why no crisis is required for the consequences to arrive. tinyurl.com/4fu2b8vf

@SimonDixonTwitt @saylor shilling BTCFi? @gvnrdao is here for it. Native control. Never sell. 💎🙌

@BtcCorpDay @relai_app @Bitwise @Blockstream @_ALCPB @FulgurVentures @invity_io @firefish_io @Strive @bitcr_org GVNRs are coming!!

Elon's UBI optimism may be right about the output. It says nothing about who controls the denominator. All converges to energy. Competing AIs will be sorted by it. Fiat money obscures it. #bitcoin doesn't. tinyurl.com/bdzwhydz

@elonmusk open.substack.com/pub/roundthink…

@elonmusk Energy will be the constraining / enabling resource in this scenario. Money gets tied to energy. #bitcoin

Mandelson. Starmer. Politics finds itself in therapy, yet again. Similar problems, different names. Accountability? All but gone. Real governing? Can anyone remember what that is? Here is how we fix it: tinyurl.com/3c3weryt

@business @Erika_D_Smith @opinion of course you can it just depends how it is done. the whole mess is because the rich pull up the drawbridge and leave action to others, hoping philanthropy fills the gap