Nostr Web Client

This is how I interpreted it & I'm no expert to be sure.

Velocity of money drops, liquidity rapidly drains from the market & assets lose value overnight. The Fed doesn't jump in to save the market by pumping in liquidity. Things start breaking everywhere, banks start failing & nobody can get their cash out.

All fiat deposits & income (except for a few chosen ones) disappear.

Loans still require servicing which drains more fiat. Bankruptcies everywhere but nobody to buy the assets. Asset values drop further.

A possible 6102 on gold & bitcoin making both worthless in the short term. I think bitcoin would arise as a black market money to pay for goods but it's pretty useless for servicing loans & land taxes.

If you're a homesteading Bitcoiner, how do you pay your land tax & mortgage with little income? If you can sell Bitcoin, it will be at an extreme discount.

VOLKER - Voice Of Logic Knowledge Experience & Responsibility 7mo ago

OK, I stopped after reading the prologue and coming up to the quote below. Two big faults in one paragraph:

1) The US GDP is not the correct metric against which to measure M3 growth. USD is the world reserve currency, so its growth is more aligned with world GDP growth. This may not have been common knowledge when his epiphany hit him, but it is now (especially among bitcoiners).

Reply to this note

Discussion