Comments by "" (@TheDavidlloydjones) on "ColdFusion" channel.

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  27. Eyeglasses. Sewing machines. It's didn't all start with Sputnik. As for ARPAnet, it is a copy of Usenet (not the later e-mail system of the same name), Digital Equipment Corporation's system for talking to its own customers. The key technology involved is packet-switching, developed by Bolt, Beranek and Newman, today's BBN, contractors to DEC. Dick Bolt of BBN sold the idea for a second time to Johnny Foster in the JFK White House and Joe Licklider in the Pentagon. Together they got ARPA involved. In mid-1971, when I was user #300 on ARPAnet, there were seven nodes, five in the US, and two in Britain. At that time, Digital Equipment claimed, possibly with a bit of exaggeration, that their Usenet, using identical technology, had 400 nodes and 10,000 users. It didn't start with the Pentagon. It isn't a government initiative. Vinton Cerf was the major developer of TCP/IP, a later set of (excellent and necessary) software which made it easier for the linking of different networks to grow. One fey "origin" of the Internet is Vannevar Bush's 1945 Atlantic article http://www.theatlantic.com/magazine/archive/1945/07/as-we-may-think/303881/ . Others run back to H.G Wells and, naturally, Roger Bacon. The most relevant intellectual basis for it might be the hypothetical plans developed by the Carnegie Corporation about 1964. These were first instantiated in a dormitory at MIT and at the library and campus of the then emerging tech powerhouse University of Waterloo, both in place by 1965. -dlj.
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  43. Some other errors: 7:45 "The central banking model from the United States and England..." This is disingenuous, a little bit like saying that windmills and bicycles are the same thing because they both have parts that go round and round. Yes, both the Bank of England and the Federal Reserve System can be called central banks -- except that the Bank of England is a bank, and fairly central, while the Federal Reserve is not a bank and is not central. 7:57 "This unites several countries under one economic policy." Nope. 180 degrees incorrect. It supplies several countries with a single currency in very general use in all of them. They keep their own economic policies independent of one another, which results in all sorts of problems which are still being worked out. 8:14. "Since the end of World War Two, the US dollar has been the reserve currency of the world." Not quite. Since 1947 or so the US dollar has been one of the most important reserve currencies of the world. Right up there with gold, and ahead of the pound sterling for most of that period. For most of this period the reserve currency of the world has been Special Drawing Rights, SDR's, on the World Bank, and these are backed by a basket of currencies and other assets, of which the US dollar is just one. 8:23 "This means that all other currencies are backed by the US dollar..." Among other things, and only from day to day. All currencies are backed by the probity of the governments behind them and the productivity of the people in their home countries. 8:43 "A result of this (the Bretton Woods system) was that all currencies were very stable with respect to each other." Wildly wrong. Not even close. Bretton Woods set up the system within which the variations in currencies' relative values would continue to fluctuate. "Mike Maloney, monetary historian." Nope. Mike Maloney is a metals retailer or an author of the propaganda of metals traders. Mike Maloney is a good place for me to stop. This is a well-intentioned video, and thankfully free of stupid conspiracism, but it is terribly oversimplified because it assumes "control" and "stability" to be real. They are just words, and don't have a lot of applicability within this topic. "Change," "adjustment," "flow" and similar words are much more needed in this discussion. Mike Maloney is a perfectly honest propagandist, but he is not a historian, nor is he even a journalist. He is a spinner of stories useful to metals traders. Long story short: all currencies, from food or candy bars at one end of the spectrum, up through gold and silver and national fiat currencies, right up to the international instruments like the SDR, are different. They all have their own stories. All of them are traded sometimes, and the conditions under which all of them trade change from day to day and place to place. That's why so much of the space in newspapers is given over simply to pages and pages of grey columns of type: prices. Trying to make them more the same than this is the wrong thing for a video to do. There's lots of room for good videos detailing actual facts rather than attempts at structures and theories. One good story you might enjoy making: the two generation-long war between the Federal Reserve Bank of St. Louis and all the other Federal Reserve banks is a lot of fun. Why did Harry Truman say "What I need is a one-handed economist?" Wey-yull, there are a lot of economists who say "...and on the other hand..." but I've always suspected it might be connected with the fact that Missouri is the only state that has two Federal Reserve banks in it. I don't know whether this is the cause or an effect of Missouri being the Show-Me State. -dlj.
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