The Collapse of the Tower of Financial Babel

2 posts / 0 new
Last post
ashvinp's picture
Status: Gold Member (Offline)
Joined: Jan 20 2010
Posts: 412
The Collapse of the Tower of Financial Babel

Deconstructing our world of financial WordCraft via a look at the new EU "plan".

The Collapse of the Tower of Financial Babel

Even the mainstream press can no longer ignore the fact that the mainstream dialogue in the world of finance has become nothing more than an endlessly reduced, reused and recycled cloud of type-cast words. I first visited complex human language and its modern-day "meaning" [or lack of it]  in Language, Logic and Lies, which focused on the UN Resolution to invade Libya. There we saw that statements asserted as true, according to the "logical positivism" of Alfred Jules Ayers, don't have any meaning unless they are tautologies or are empirically verifiable.

Since then, our coherence-starved language has been reflected even more fundamentally by the volatile action in markets over the last two months, during which an assortment of European headlines, rumors, "communiques" and random statements came to dominate the collective psyche of investors. The "final" EU Summit to end all Summits (sound familiar, Europe?) on Wednesday (October 26) predictably turned out to be just another feebly-constructed stepping stone in our vast sea of contradictions and double or triple-meanings that permeates a never-ending, mind-numbing game of WordCraft.

Here are some of the most painstakingly recycled words that were involved - Leverage, Haircuts, Guarantees, Bondholders, SPIV (combination of recycled words), Restructuring, Recapitalization, Voluntary, Default, Solution.

No_Fiat's picture
Status: Silver Member (Offline)
Joined: Oct 20 2011
Posts: 104
 Here is one word they do

 Here is one word they do not like to mention and that is money created backed by intrinsic value.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Login or Register to post comments