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Cake day: July 16th, 2023

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  • I totally agree that current nuclear power generation should be left running until we have enough green energy to pick up the slack, because it does provide clean and safe energy. However, I totally disagree on the scalability, for two main reasons:

    1. Current nuclear power generation is non-renewable. It is somewhat unclear how much Uranium is available worldwide (for strategic reasons), but even at current production, supply issues have been known to happen. And it goes without saying that waiting to scale up some novel unproven or inexistent sustainable way of nuclear power production is out of the question, for time and safety reasons. Which brings me to point 2.

    2. We need clean, sustainable energy right now if we want to have any chance of fighting climate change. From start of planning of a new nuclear power plant to first power generation can take 15 or 20 years easily. Currently, about 10% of all electricity worldwide is produced by about 400 nuclear reactors, while around 15 new ones are under construction. So, to make any sort of reasonable impact, we would have to build to the tune of 2000 new reactors, pronto. To do that within 30 years, we’d have to increase our construction capacity 5 to 10 fold. Even if that were possible, which I strongly doubt, I would wager the safety and cost impacts would be totally unjustifiable. And we don’t even have 30 years anymore. That is to say nothing of regulatory checks and maintenance that would also have to be increased 5 fold.

    So imho nuclear power as a solution to climate change is a non-starter, simply due to logistical and scaling reasons. And that is before we even talk about the very real dangers of nuclear power generation, which are of course not operational, but due to things like proliferation, terrorist attacks, war, and other unforseen disruptions through e.g. climate change, societal or governmental shifts, etc.


  • More than 90% of the money we use does not come from the central banks, i.e. does not exist as cash and is not backed by the government directly. Instead it is book money. Here is how this works:

    When a bank lends you $1000 at 10% interest for a year, they don’t physically have that money. Instead, they write into your account: We owe you $1000. They also write into their account: Skaterboy42069 owes us $1100.

    See how the $1000 you have in your account just appeared out of nowhere? They are of course balanced by the bank’s $1000, but there is an extra $100 (the interest) that was created permanently. It’s up to you to come up with a way of making those extra $100 in one year. Now apply that to the entire monetary system and the whole economy, and you see how the only way is up.

    As an aside: This is also precisely the reason why we need ~2% GDP growth annually, and any standstill or even shrinking is an absolute disaster. Debts don’t get repaid and are defaulted on, and money literally evaporates. Ask yourself this: imagine GDP drops 10% over night and what that would do to the economy. Why would that be such a disaster if it would simply send us back to about 2018 GDP-wise (when we all lived in caves)?