The great thing about #AdamSmith is that when he's about to go off on a 65 page tangent, he warns you. Humans, we bring you the DIGRESSIONS ON SILVER! #OhLawdHeComin #WealthOfTweets

Oh King Edward III, it’s adorable that you think you can just decree that servants and laborers become permanently content with wages fixed at the rate they were at five years ago. https://t.co/NtOmttquJ3 (I.xi.e.2) #WealthOfTweets #SmithTweets
He’s already digressing, and he can’t take a minute to share the menu from that famously magnificent feast with us? (I.xi.e.4–5) #WealthOfTweets #SmithTweets
Super Important 18thC Vocab Geekery: When Smith says the price of the quarter of wheat wasn't “supposed to be < 4 oz silver” he doesn’t mean “shouldn't be.” He means “wasn't thought to be.” He’s not approving of fixed prices. (I.xi.e.7) #WealthOfTweets #SmithTweets
So. Many. Wheat. Prices. (But really, Smith is talking about how much wheat it takes to buy a quantity of silver, NOT how much silver it takes to buy a quantity of wheat.) (I.xi.e.1–14) #WealthOfTweets #SmithTweets
Is silver more expensive because demand is going up? Supply is going down? Or a mixture of both? (I.xi.e.14) #WealthOfTweets #SmithTweets
And it *was* getting more expensive, though people thought it wasn’t. They were misled for three reasons. (I.xi.e.15–16) #WealthOfTweets #SmithTweets
1. Rents were paid “in kind”(with chickens or corn instead of money) that’s called a “conversion price” which is set below market price to protect tenants. People often confuse conversion and market prices.(I.xi.e.17) #WealthOfTweets #SmithTweets
2. Slovenly and lazy copyists who don’t get the details right.[We are here for the #SmithSnark, which is some of the best snark.] (I.xi.e.18–22) #WealthOfTweets #SmithTweets
3. Assuming that because the lowest ancient price for wheat was very low, the price never got very high. In fact, the ancient market was volatile and “disorderly,” not uniformly cheap. (I.xi.e.23) #WealthOfTweets #SmithTweets
Oh hey, did you want to know all the available prices of wheat from 1202 until 1601, in 18th century money, in 12 year periods? Smith’s got your back. (I.xi.e.24) #WealthOfTweets #SmithTweets
Data shows the price of silver rising, and Smith is confused/annoyed that so many historians/economists have interpreted it as falling. (I.xi.e.24) #WealthOfTweets #SmithTweets
“It is somewhat curious that, though their opinions are so very different, their facts...should coincide so very exactly.” Could this be the first instance of an economist gobsmacked that people interpret data differently? (I.xi.e.24) #WealthOfTweets #SmithTweets
Labor is the real measure of value of silver and all commodities. But...is it, though? (I.xi.e.26) #WealthOfTweets #SmithTweets
The important thing is not to be misled into thinking that as the quantity of silver increases, the price will decrease. That’s “altogether groundless.” Demand is a thing, folks. (I.xi.e.33) #WealthOfTweets #SmithTweets
Smith keeps saying that money naturally seeks the best available price for itself. Aristotle is over here with his head exploding. (I.xi.e.34) #WealthOfTweets #SmithTweets
“When we are in want of necessaries we must part with superfluities.” THAT might be one of the best pieces of advice--financial or otherwise—we’ll ever get. (I.xi.e.38) #WealthOfTweets #SmithTweets
Ya know what? Let's just press on and do the second period of silver prices real quick. Not even Smith can go on for that long about it. (I.xi.f) #WealthOfTweets #SmithTweets
(Ok, ok, we know this is #WealthOfTweets and not #TweetsOfMoralSentiments, but didya notice that opening sentence here? Smith really likes that “How X soever Y may be” formulation.) (I.xi.f.1) #WealthOfTweets #SmithTweets
Everybody agrees that the discovery of the silver mines in America caused the value of silver to crash relative to the value of corn. Smith is about as sure of this as he ever is of anything. You can, as it were, take it to the bank. (I.xi.f.1–5) #WealthOfTweets #SmithTweets
And that’s it for everything interesting between 1570 and 1640 apparently. Your early modernist SmithTweeter is pouting but will proceed on apace tomorrow, to the Third Period of the Digression. (I.xi.f.1–5) #WealthOfTweets #SmithTweets

More from @AdamSmithWorks

More from Society

global health policy in 2020 has centered around NPI's (non-pharmaceutical interventions) like distancing, masks, school closures

these have been sold as a way to stop infection as though this were science.

this was never true and that fact was known and knowable.

let's look.


above is the plot of social restriction and NPI vs total death per million. there is 0 R2. this means that the variables play no role in explaining one another.

we can see this same relationship between NPI and all cause deaths.

this is devastating to the case for NPI.


clearly, correlation is not proof of causality, but a total lack of correlation IS proof that there was no material causality.

barring massive and implausible coincidence, it's essentially impossible to cause something and not correlate to it, especially 51 times.

this would seem to pose some very serious questions for those claiming that lockdowns work, those basing policy upon them, and those claiming this is the side of science.

there is no science here nor any data. this is the febrile imaginings of discredited modelers.

this has been clear and obvious from all over the world since the beginning and had been proven so clearly by may that it's hard to imagine anyone who is actually conversant with the data still believing in these responses.

everyone got the same R
Tomorrow, January 6th, MAGA chuds, Proud Boys, and white supremacists are planned to descend on Washington D.C. to contest the election. Among them will be NSC-131, a New England based neo-Nazi organization. Let's welcome them by saying hi to one of their members, Eddie Stuart!


Edward Stuart, from Chester, New Hampshire, has been a member of Nationalist Social Club (NSC) since the very beginning and is a staple participant in their actions. He is known in NSC chats as "Carl Jung" and is well connected in the New England Nazi scene.
2/


NSC-131 is a neo-Nazi group that was started in Massachusetts in early 2020 by Chris Hood. You can learn more about NSC and it's members in these threads:


Eddie describes his ideology as "Esoteric Hitlerism" which is an occult form of Nazism that literally worships Adolf Hitler as a god, or, specifically, as an incarnation of the Hindu God Vishnu. Here is Ed holding the RigVeda with some of his occult Nazi pals. Interesting Ed!
4/


Much of this ideological insight was gained from Eddie's Twitter, where he originally used his "Carl Jung" persona and reposts explicit neo-fascist content and racist memes. In one edited picture, Eddie can be seen at an NSC event in late June 2020 holding a Nazi Sonnenrad flag
5
Brief thread to debunk the repeated claims we hear about transmission not happening 'within school walls', infection in school children being 'a reflection of infection from the community', and 'primary school children less likely to get infected and contribute to transmission'.

I've heard a lot of scientists claim these three - including most recently the chief advisor to the CDC, where the claim that most transmission doesn't happen within the walls of schools. There is strong evidence to rebut this claim. Let's look at


Let's look at the trends of infection in different age groups in England first- as reported by the ONS. Being a random survey of infection in the community, this doesn't suffer from the biases of symptom-based testing, particularly important in children who are often asymptomatic

A few things to note:
1. The infection rates among primary & secondary school children closely follow school openings, closures & levels of attendance. E.g. We see a dip in infections following Oct half-term, followed by a rise after school reopening.


We see steep drops in both primary & secondary school groups after end of term (18th December), but these drops plateau out in primary school children, where attendance has been >20% after re-opening in January (by contrast with 2ndary schools where this is ~5%).

You May Also Like

@EricTopol @NBA @StephenKissler @yhgrad B.1.1.7 reveals clearly that SARS-CoV-2 is reverting to its original pre-outbreak condition, i.e. adapted to transgenic hACE2 mice (either Baric's BALB/c ones or others used at WIV labs during chimeric bat coronavirus experiments aimed at developing a pan betacoronavirus vaccine)

@NBA @StephenKissler @yhgrad 1. From Day 1, SARS-COV-2 was very well adapted to humans .....and transgenic hACE2 Mice


@NBA @StephenKissler @yhgrad 2. High Probability of serial passaging in Transgenic Mice expressing hACE2 in genesis of SARS-COV-2


@NBA @StephenKissler @yhgrad B.1.1.7 has an unusually large number of genetic changes, ... found to date in mouse-adapted SARS-CoV2 and is also seen in ferret infections.
https://t.co/9Z4oJmkcKj


@NBA @StephenKissler @yhgrad We adapted a clinical isolate of SARS-CoV-2 by serial passaging in the ... Thus, this mouse-adapted strain and associated challenge model should be ... (B) SARS-CoV-2 genomic RNA loads in mouse lung homogenates at P0 to P6.
https://t.co/I90OOCJg7o