Amar, your explanation is simple yet elegant. Thanks for that. I have one quibble though I am not sure this is still true. Some banks have had the power to lend up to triple their assets in credit. Which has led to some interesting events in the past. Notably, the banks mass failure a few years ago before the start of President Obama's term.
ahh due to a lack of playing in tournaments and doing well in those i do play in, Ive never seen how mtgo handles top 8. Luckily i dont feel bad since ive only played in a grand total of maybe 3 tournaments over the 3+ years ive been online. But that does clear up what was going on. Thanks.
Why some avatars are so high when nobody want to buy them ? I have platinum, assassin, alt serra and cant do anything with them. Can have a 4-5 tickets max.
Shard are you implying I used photoshop to win! ;) kidding...
_____________________
The weird point listing happens almost every tourney. Where before the top 8 cutoff, someone has the most points, after and during TOP8, the points don't continue. It is confusing. I can only link to existing links I've saved, and obviously it's a selfish/self-serving link, but it does illustrate the point:
Spelling aside, technically bluedragon (and his prof) is correct. The Treasury Department doesn't just take money off the printers and go buy stuff. As you might intuit, most spending these days doesn't involve cash anyway. I'll explain (and to be fair I'm sanding the edges here a little bit for understandability):
The way new money is added into the economy is via the Federal reserve. Banks can only lend money that they have. If they run out then they stall - very roughly what happened in 2008. (And without protections in place people would have trouble withdrawing savings, as happened in the bank runs of the 1930s.)
Banks in good standing (aka not 2008) can get more cash from Central Reserve Banks. Those, managed by the Federal Reserve, use the power of the government to have ultimate credit. They lend money to banks at a low rate, banks lend it out slightly higher, and the wheels keep moving. The number one way this is managed is the "Fed Funds Rate", which is the percent that those central banks lend out at. The lower it is, the lower the other banks can afford to go on their loans.
So consider what happens if you have a low rate. People want to borrow because it's cheap. That means the Central Banks have to loan out more money. So more money is going from the government out to the economy. And that is what can cause inflation. More money exists not in the paper sense, but in the bank account sense. If the Fed raises the rate then there's less borrowing, less money available, and less inflation. (Possibly deflation.)
That said, the phrase "printing money" is shorthand for all that crap. Low rates and increased liquidity to promote borrowing is commonly referred to as "printing money" even though there's no printing involved. And bluedragon's prof should know this and stop being pedantic about it.
(p.s. Governments need to borrow money too, so just consider the above process as the government itself starts using up the supply. Greece is on the verge of defaulting in part because they signed on for the Euro a decade ago and in doing so lost the ability to "print money".)
Totally agree...often when out of town, I miss a pauper tourney (like this one and the next 2 weeks) - only to return and see that the finals is a split...this should be flat-out-forbidden imo. Were here to play RIGHT?!?!?
first off polititions are nieve and know nothing about economics.
Second off it's true that printing money will cause inflation. However, when was the last time that an advanced capitalist nation has actually printed money without relation to the demand of money increseing. (I'll give you a hint, not in my lifetime or any of ours to my knowlege.)
When a politition states that the governement is actually printing money it is 100% false. The government (US atleast) only prints money to replace damaged currency or if the demand of money has increased(but even then I don't thik they print money.)
Money is created through the banking system and not by the government printing money. The baning system usually only adds to the money supply when it is demanded by the public and firms.
So the next time you hear a polotition say that the government is printing money you'll know that they're completely nieve.
Wow they split? Nonsense...I say protest the intentional draw. :/ (I know there is no intentional draw online but seriously... You make it to the end ...you should finish it.)
well, my WW did awfully well, top two spots :) Congrats to scen and SusanAska - would have liked to see blood in the finals, and not the boring split! C'mon people...play the game!
O-Ring is not played because pauper has no planeswalkers and has very few enchantments or artifacts that substantially effect the game state. When those actually exist in the meta, pauper also has some of the best targeted enchantment/artifact destruction ever printed.
So what's left are creatures, and journey is cheaper and can hit animated lands.
yeah, this is a fine article. i like that ur positive and never turn into a hater against people criticizing you. ur upbeat personality is refreshing. article is a little messy - but it's a break from all the other articles that don't wake me up like urs. peace mang.
I pay $1.25 for a ticket in the wotc store. I miss serrabot where i could buy them for about 0.90 a piece... I mostly buy them from friends now, or from the store if it's in small amounts.
I apologize for the misspelling of your name and hope it did not diminish the value of my suggestion. I will make sure to pay close attention to it. The late hours I wrote this is a reason but no excuse.
It IS an easy and common mistake to make and not at all indicative of an insult or slight in anyway shape or form. I am certain I have made it more than once with people who are close friends even. Some people also just fail at the typing.
Thanks for the weekly update. Though you spell your name with a "K", unlike cool Erics such as myself, I still have and always have had a deep and abiding respect for you. Apparently, so do many other posters, since they continually refer to you by the "Cool Spelling" of Eric, and not Erik, despite how you have signed your articles and listed your name for several years, and dare I guess, perhaps even since you were born.
I mean, even though there were only two articles today and the other one was actually by an actual guy actually named "Eric", I'm sure he's not at all agonized about the fact that you have stolen his name and everyone uses his name when talking to you. And that everytime he sees the "Hello Eric" pop up in the new comment sidebar, he's all excited because he has a new comment on his article, but he doesn't. He's definitely not swearing any kind of lingering consonant-based vengeance across many years or anything, I hear.
thanks for the weekly update. One thing I believe that needs a bit of a change are the price charts or precisely the prices. I know that you are pulling the prices from a well known source but to a large degree many of them are not nearly as accurate as they could be if you would combine prices from different sources. Often the prices are not nearly what the market is "telling."
One example would be the Platinum Angel Avatar. There is no one that pays near the $20 in the chart as they have been distributed en mass during the Momir events. You will have no problem to get them for less then half the value. This also makes many of the percentage changes obsolete as they are not real market values but merely prices set by a dealer. This is especially true for cards that are less liquid.
I know that this is the easiest way to do it but I do believe that true value will only come out of the charts if you are using different sources and combine them for a more accurate market prices.
Roflmao. Isn't there a card in the Un- sets that does something like that? Throws a pie?
hmm for once actual decent comments lol
i was expecting the first comment to be someone saying how they would always t1 fastbond into wirecat
what we need online is the dexterity cards like chaos orb, a way to throw it online, and a way to make it hit your opp in the eye by accident
Amar, your explanation is simple yet elegant. Thanks for that. I have one quibble though I am not sure this is still true. Some banks have had the power to lend up to triple their assets in credit. Which has led to some interesting events in the past. Notably, the banks mass failure a few years ago before the start of President Obama's term.
ahh due to a lack of playing in tournaments and doing well in those i do play in, Ive never seen how mtgo handles top 8. Luckily i dont feel bad since ive only played in a grand total of maybe 3 tournaments over the 3+ years ive been online. But that does clear up what was going on. Thanks.
Why some avatars are so high when nobody want to buy them ? I have platinum, assassin, alt serra and cant do anything with them. Can have a 4-5 tickets max.
Shard are you implying I used photoshop to win! ;) kidding...
_____________________
The weird point listing happens almost every tourney. Where before the top 8 cutoff, someone has the most points, after and during TOP8, the points don't continue. It is confusing. I can only link to existing links I've saved, and obviously it's a selfish/self-serving link, but it does illustrate the point:
http://www.wizards.com/Magic/Digital/MagicOnlineTourn.aspx?x=mtg/digital...
Notice how Drago has 18 to all other 15, yet he still didn't win. THAT guy is a phenomenal player, watch out!
ok out of curiosity...in the picture at the beginning how is numidar in 3rd or 4th even though he has 18 points and everyone else has 15?
Spelling aside, technically bluedragon (and his prof) is correct. The Treasury Department doesn't just take money off the printers and go buy stuff. As you might intuit, most spending these days doesn't involve cash anyway. I'll explain (and to be fair I'm sanding the edges here a little bit for understandability):
The way new money is added into the economy is via the Federal reserve. Banks can only lend money that they have. If they run out then they stall - very roughly what happened in 2008. (And without protections in place people would have trouble withdrawing savings, as happened in the bank runs of the 1930s.)
Banks in good standing (aka not 2008) can get more cash from Central Reserve Banks. Those, managed by the Federal Reserve, use the power of the government to have ultimate credit. They lend money to banks at a low rate, banks lend it out slightly higher, and the wheels keep moving. The number one way this is managed is the "Fed Funds Rate", which is the percent that those central banks lend out at. The lower it is, the lower the other banks can afford to go on their loans.
So consider what happens if you have a low rate. People want to borrow because it's cheap. That means the Central Banks have to loan out more money. So more money is going from the government out to the economy. And that is what can cause inflation. More money exists not in the paper sense, but in the bank account sense. If the Fed raises the rate then there's less borrowing, less money available, and less inflation. (Possibly deflation.)
That said, the phrase "printing money" is shorthand for all that crap. Low rates and increased liquidity to promote borrowing is commonly referred to as "printing money" even though there's no printing involved. And bluedragon's prof should know this and stop being pedantic about it.
(p.s. Governments need to borrow money too, so just consider the above process as the government itself starts using up the supply. Greece is on the verge of defaulting in part because they signed on for the Euro a decade ago and in doing so lost the ability to "print money".)
Or alternately your own Wheel of Sun and Moon.
I would trust your argument so much more, if you had any idea how to spell half of the words you used.
Totally agree...often when out of town, I miss a pauper tourney (like this one and the next 2 weeks) - only to return and see that the finals is a split...this should be flat-out-forbidden imo. Were here to play RIGHT?!?!?
first off polititions are nieve and know nothing about economics.
Second off it's true that printing money will cause inflation. However, when was the last time that an advanced capitalist nation has actually printed money without relation to the demand of money increseing. (I'll give you a hint, not in my lifetime or any of ours to my knowlege.)
When a politition states that the governement is actually printing money it is 100% false. The government (US atleast) only prints money to replace damaged currency or if the demand of money has increased(but even then I don't thik they print money.)
Money is created through the banking system and not by the government printing money. The baning system usually only adds to the money supply when it is demanded by the public and firms.
So the next time you hear a polotition say that the government is printing money you'll know that they're completely nieve.
Wow they split? Nonsense...I say protest the intentional draw. :/ (I know there is no intentional draw online but seriously... You make it to the end ...you should finish it.)
Please do not delete or lose those old snow lands! so helpful for pauper players.
in different directions in different parts of the UI? In chat it works correctly. In deck editor it's reversed.
Okay, for the record, "someold guy" wasn't playing, nor was I...but WW did take the top two spots.
well, my WW did awfully well, top two spots :) Congrats to scen and SusanAska - would have liked to see blood in the finals, and not the boring split! C'mon people...play the game!
O-Ring is not played because pauper has no planeswalkers and has very few enchantments or artifacts that substantially effect the game state. When those actually exist in the meta, pauper also has some of the best targeted enchantment/artifact destruction ever printed.
So what's left are creatures, and journey is cheaper and can hit animated lands.
yeah, this is a fine article. i like that ur positive and never turn into a hater against people criticizing you. ur upbeat personality is refreshing. article is a little messy - but it's a break from all the other articles that don't wake me up like urs. peace mang.
I pay $1.25 for a ticket in the wotc store. I miss serrabot where i could buy them for about 0.90 a piece... I mostly buy them from friends now, or from the store if it's in small amounts.
Hello Erik,
I apologize for the misspelling of your name and hope it did not diminish the value of my suggestion. I will make sure to pay close attention to it. The late hours I wrote this is a reason but no excuse.
Cheers,
Marin
I can't play for about the next 3 weeks :( - hope all you WW players do me proud, my money's on "someoldguy"
It IS an easy and common mistake to make and not at all indicative of an insult or slight in anyway shape or form. I am certain I have made it more than once with people who are close friends even. Some people also just fail at the typing.
Hello Erik,
Thanks for the weekly update. Though you spell your name with a "K", unlike cool Erics such as myself, I still have and always have had a deep and abiding respect for you. Apparently, so do many other posters, since they continually refer to you by the "Cool Spelling" of Eric, and not Erik, despite how you have signed your articles and listed your name for several years, and dare I guess, perhaps even since you were born.
I mean, even though there were only two articles today and the other one was actually by an actual guy actually named "Eric", I'm sure he's not at all agonized about the fact that you have stolen his name and everyone uses his name when talking to you. And that everytime he sees the "Hello Eric" pop up in the new comment sidebar, he's all excited because he has a new comment on his article, but he doesn't. He's definitely not swearing any kind of lingering consonant-based vengeance across many years or anything, I hear.
(Just kidding, awesome article as ever!)
-Eric<-------------------------------------------------------------NOTE
Hello Eric,
thanks for the weekly update. One thing I believe that needs a bit of a change are the price charts or precisely the prices. I know that you are pulling the prices from a well known source but to a large degree many of them are not nearly as accurate as they could be if you would combine prices from different sources. Often the prices are not nearly what the market is "telling."
One example would be the Platinum Angel Avatar. There is no one that pays near the $20 in the chart as they have been distributed en mass during the Momir events. You will have no problem to get them for less then half the value. This also makes many of the percentage changes obsolete as they are not real market values but merely prices set by a dealer. This is especially true for cards that are less liquid.
I know that this is the easiest way to do it but I do believe that true value will only come out of the charts if you are using different sources and combine them for a more accurate market prices.
Otherwise nice job as usual.
Cheers,
Marin