a reply to: deuceawesome
It''s not about fiat money. It's about the foundation of the creation of wealth itself. You have this elaborate system that was built to prevent
the "other", the "totalitarian", "communist", "Marxist-Leninist" system from even taking root, anywhere. The people who built this system
cannot fathom a world without private property; without copyright; without states secrets; without a world military, a world police, and systems of
world governance. Which is really, really ironic seeing that one of the Communist demands was:
10. All private banks will be replaced by a state bank whose bonds will have the character of legal tender.
The Fed is not quite like it, because it's "independent" from Congress and the Executive Branch. But still, the present "capitalist" system is
very much a central-planned, bureaucracy-based, totalitarian system, which does not directly censor (except for "classification"), but tries to
control thought through control of the press, of entertainment, and really, truth itself. I mean, Stalin couldn't dream of the type of surveillance
the NSA has been conducting consistently ever since its inception. Not to mention the NRO. Or private entities using technology from the
Anyway, the thing is, the financial markets simply reflect a very imperfect information distribution technology, yet it's advertised as the high
lane, the race for femtosseconds, etc. It's a fiction. And sometimes the market itself gets a glimpse of the fiction, and they panic. Because
everything is based on a fiction.
Now there's really some kind of cycle. It has something to do with the maturity of the securities. 5-year, 10-year, 30-year. This discrepancy
interacts somehow and it aligns, it coincides with major events - sometimes a sequence of events, in a day - and the market "crashes". So human
"emotion" takes over and rationality goes out the window, people get poor all of a sudden and there's a panic. Well, that's not really it, is it?
The speculators are blatantly trying to profit whether the market goes up or it goes down. They don't care. And they operate through crisis, over and
over again. We can track this. I think it's worth it. Who are the people who don't panic, during a panic?