- So I now have a million bus tickets. Yay! Oh but wait - they now buy only what a hundred would Archived Message
Posted by Rhisiart Gwilym
on April 5, 2020, 4:29 pm, in reply to "The stockmarkets outincrease inflation rates (nm)"
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buy before; or at least they still do for the minute. But once the shit of this economic lunacy finally hits the fan big-time, as now seems imminent, they'll buy nothing at all, being worthless. Those who actually hold, in the sense of having hands-on direct control of gold, land, food and similar objectively-needed, actually-palpable resources, will have real wealth in their hands. And remember, I do mean hold and control, in the sense that any revolutionary uprising can take control of stuff that - a few lynchings previously - was hallucinated by the one-percenters to belong to them... Never forget that the 'value' of a notional 'asset' rests entirely on the generally-agreed value of bits of fiat currency. And all fiats in the history of the world have gone eventually to zero, sometimes with spectacular suddenness. Repeat after me: 'Derivatives, derivatives, DERIVATIVES!!! Aaaaaagh! Run! Run!'  We shall not be going back to the previous hallucinated 'value' of paper 'assets', possibly not ever again. After each lurch-down, that's gone for good. Until the population overshoot has resolved itself by natural Gaian means, and the Earth has had a few centuries to heal and re-fecundate itself again, it's not likely that the hallucinations of paper 'wealth' will even begin to creep up again. |