What’s scary is that this happens every 10-15 years.
It’s not just a one time accident. It’s the natural recurrent consequence of a poorly conceived economic system.
Household wealth is transferred to bond holders over and over via the lumpy and opaque cycle of debasement funded bail outs.
It’s this even the best system for growth?
Will or would?
It’s not a crazy opinion to hold.
I don’t think he’s right, but I don’t think he’s crazy either. It’s one scenario that should be talked through.
To me it seems like Central Banks are out of control. They are captured, they don’t work to lift household incomes. They are 99% focused on bonds and 1% focused on households.
It’s just wrong to keep transferring wealth from households to bonds. The only defence seems to be “but bondholders lobby really hard”.
It’s weird that we do this.
I don’t think his hypothesis is correct.
The most difficult price to control is the price of oil, and it’s crashing.
Oil is international, real world, is traded in large volume and by entities who despise one another.
Oil price cannot crash in a hyperinflation scenario, which suggests this is just a good old fashioned bust. If anyone can imagine a scenario with both hyperinflation and a crashing oil price please explain it to me.
Like 2008, and unlike 2020 this printing has zero monetary velocity, it’s just free collateral locked in a vault for greasing toxic bank deals. It doesn’t touch the real world economy, it will not trigger inflation.
If the printing leaks into the economy, then we will have inflation but crashing oil price strongly suggests no leaking.
Any questions?
😂
Yeah this is the root of it.
This is why you have the likes of Bill Ackman all over Twitter demanding “currency debasement now!”.
Meanwhile if you’re a regular nuclear family… you just gotta work 15 years longer to keep these people from tumbling down the hierarchy.
Yep, read it again.
It’s undead.
They did this in Greece during the eurozone crisis.
Haha #[1] loves those rings.
Never let your travel docs expire.
There might be more events before 2024?
Maybe Nostrdame, Paris? Nostraka, Japan?
😂
How much longer do we have to keep pretending this is not part of Moscow’s war?
Actually that’s not how banking works.
A bank doesn’t need any money to make a loan.
The Central Banks can create money to buy government bonds, but that’s not how the majority of money is created.
The majority of money in supply is created by commercial banks who create money by making loan.
They DO create credit.
When you get a loan they don’t transfer reserves to you, they merely add credit to your account from nowhere. They record this loan as a liability for you and an asset for them.
Is Bitcoin ready?
Everything the ECB says is now seen through the filter of “it’s a crisis so they are lying”.
Not ideal for them.
It’s interesting how Siri has completely roadblocked all AI development by Apple.
Weird.
It’s like Microsoft missing the internet back in the 90’s.
They’re changing the law so that an illegal transaction can happen?
🤡 🌍
This just looks like stealing to me, forcing a $1bn bid to be accepted when the market cap was $6.9bn on Friday close?
🤔
They’re basically saying “all the market prices are wrong”.
Oh, that’s not good.
Sounds like a real headache for interoperability of nostr apps?