Baronet of the Barbary Coast on Nostr: npub18994c…xmd6m All money is a shared illusion, including gold. Once ounce of gold ...
npub18994crjwnldrukwym5lz3y2nae84s84v20m2rkngtjnyg549lr6qvxmd6m (npub1899…md6m)
All money is a shared illusion, including gold. Once ounce of gold is worth [whatever] is just as much a shared illusion as "this green piece of paper, or bitcoin, is worth [whatever]." The shared illusion is a tool that can be used for good, evil, or both.
Ref national debt: it can be repudiated directly (default) or, for fiat money, indirectly (hyperinflation). The issue is that then no one will lend to you in the future and the US is hopelessly dependent on continued borrowing.
All money is a shared illusion, including gold. Once ounce of gold is worth [whatever] is just as much a shared illusion as "this green piece of paper, or bitcoin, is worth [whatever]." The shared illusion is a tool that can be used for good, evil, or both.
Ref national debt: it can be repudiated directly (default) or, for fiat money, indirectly (hyperinflation). The issue is that then no one will lend to you in the future and the US is hopelessly dependent on continued borrowing.