Yeah I don't know either... Could this be the end of the 200 year long capitalism Ponzi scheme???? It's worked better than any system ever but it 100% definitely cannot work forever.
it seems reasonable that 10 or 15 years after we all became connected and now all have instant internet access everywhere (we can all do instant banking and voting etc) and now unhackable blockchain technology can be used redesign and greatly improve pretty much every system we have that this could be one of the biggest moments of change that the world has seen, industrial revolution esk....
I don't think enough people can survive the can being kicked down the road again, not as far as it's gonna have to be kicked to get away from this train wreck.... let's not forget that there were already about half a dozen uprisings in 2019 due to inequality and authoritarian governments.. So it's not much of a stretch to imagine that this could very well be the great 'tech revolution'.
Printing all this money has obvious downsides and quite frankly I'm not sure that the masses of lower and even middle class people can handle being stretched further than they already were... 'house prices double every 8 years' we've had no real wage growth for the masses in decades and now things are going to get a lot worse....so do you think that these $750,000 AVERAGE homes are going to be $3,000,000 in 16 years time???? - NO! There is exactly zero chance that the average house buyer will be able to afford 3million... The only doubts about the incoming property market collapse is how long the government can prevent it from happening by pausing bank payments (if owners aren't forced to pay then no one is forced to sell for a less price yet) and how bad the collapse is going to be... 50%? We've already seen rent drop by about 25%.
We are somewhere near the end of the game. 1 - 2% interest on a 30 year treasury bond shows that interest rates are never going up to any significant level ever again..... Unless we get hyper inflation in which case it's game over anyway.
The banks now need a 0% holding vs lending ratio so the system is in fact already broken, it's already failed and now they have just thrown the rules of the game away and are pumping infinity money into the system... Not because they are necessarily bad people or even bad at their job, it's just because there's nothing else that can be done!
I just really hope that the powers that be are already secretly getting the new system set up and are just feeding us bullshit now to keep everyone calm.
If anyone is entertained by my tinfoil smoking too many banana peels line of thinking then it's worth looking into how the bank of England first came about out of many individual banks within the UK and the government all going into a massive debt crisis at once... Sounds familiar, but on a global scale now. It was a very clever way to reinvent the system and make all debt totally disappear into the ethos..
That might be our next move but it would probably mean moving onto a global currency which could be cool. I have no idea if that would mean we're better off with debt or assets or cash or gold or stuffed animals but I'm very interested in seeing just how we carry on from this
GXY Price at posting:
79.5¢ Sentiment: Hold Disclosure: Not Held
