See, it isn’t new and it isn’t AI, but it’s the same line of development as modern LLMs. They’ve just rebranded existing projects and lines of development as “AI technology” to be marketable.

Might be that information about when you do and don’t use the output is helpful for training. Like, if you use the output, good sign the output is good.

new money enters the economy from government loans to banks, banks then lend that money on to consumers and businesses. The interest rate charge is effectively the price, by raising the price they’re hoping to decrease the amount of new money entering the economy, which is thought by many to be the main cause of inflation.

Normally new loans/investment creates growth in the economy, so there are more goods and services for that money to be spent on, so prices don’t go up, or at least go up more slowly than new money is entering the economy. But lately, despite new money entering the economy, supply for goods and services has not grown quickly enough (or even shrunk), so more money is competing for the fixed amount of stuff, so prices have gone up (inflation). They only really have one tool they’re willing to use to address the issue, how “expensive”(interest rates) new loans are.

not really relevant to money lent to them by the government. Fractional reserve is in reference to people who have deposited savings in a bank, they still have to have money to lend it out, they cannot print new money, only the government can do that.

Gold value was also enforced by armies and taxes. It has uses nowadays that it did not use to have. Used to be gold was only useful as a decoration or as a coating that wouldn’t tarnish. The actual value was that you had to pay taxes in it.

Crypto has no value, less value than fiat even, because I can’t buy groceries with it, nor can I pay taxes with it.

Also, you can’t fractional reserve crypto unless you’re using a second crypto currency backed by a first.

I don’t really think it’s fair to compare silver or petroleum to crypto. I can run a car on petrol and make self sterilizing utensils with silver, can’t encrypt my emails with crypto currency.

I get that it is about there being a limited supply but that doesn’t really stand considering fractional reserve banking can be done with those others but not really with crypto.

Not disagreeing with you, just kinda thinking out loud, (thinking out written? IDK.)

Kind of hard to grow an economy without new workers entering the work force to work those new jobs, and the future cohorts of high school graduates in china are looking smaller and smaller for the next couple of decades. Really the best option would streamlining production in low skill areas, substitute capital for labor, so those workers can then go in to high skill areas where they will be more over all productive. But that takes capital and the ability to take those workers out of the market for higher training, it also generally requires buy in and confidence from those workers that their higher skills will be rewarded which is not exactly a good bet right now.