(Hey, stop laughing! It has collapsed in the past, often.)
WHAT THEN DO WE USE AS
Now feast your eyes on this gem from a German source:
But how is this new mountain of debt ever going to be paid off? And by whom? In the end, some economists worry that the bailouts could result in a fatal combination of inflation and stagnation … It begs the question: Is the pandemic merely the prelude to a massive crash? A financial crisis of epochal proportions that will drag companies, banks and governments into the abyss?
Possibly the future can be best answered by the past. As in: what did ‘they’ use for money, back in other times? Cans of sardines served briefly in Europe last century, and sometimes wheelbarrow loads (!) of good old paper ‘money’.
But paper currency is written promises, nothing more, and only as ‘valuable’ as the perception—lose faith in the ‘value’ of your hundred dollar note and all you have is toilet paper. Likewise the more solid ‘tokens’ such as metal coinages, which in all honesty are really worth only the purity-weight of the metal they are made from.
Three metals spring to mind if we are looking for a substitute currency:
and these have served as money for many hundreds of years. Why?
Face it, everything is trade. You even do (or did) it yourself—your time and talents for someone else’s means of exchange; tokens valuable only because we are told (and accept) that they are valuable. Somehow the printing minting and/or stamping works a miracle.
Are you worried about running out of money?
Don’t be … worry instead about running out of purchasing power. Why not? Oh … wow … wine not … perhaps the new money …
Ya never know …
‘Good’ money will chase
out bad money.
So in a Free Market (hah! I wish …) we would be free to choose whatever we want to use as money. And in the past, in different geographical locations—folks did exactly that.
I TAKE AS GIVEN
that everyone needs a convenient ‘means of exchange’ to replace barter. So everyone uses something serving in the office of money. Historically the physical money problem resolved often into gold, silver, and copper. Scarcity, and the costs involved in collecting those metals made them ‘precious’.
Wannabe dictators forced valueless artificial ‘currencies’ onto their serfs—power overriding rationality. Yet in the long run it is the Market itself that determines the value of a currency. And when a free market succumbs to force of arms … alternate currencies arise. Think about it: what holds it’s ‘value’, an ounce of pure gold or a dozen wheelbarrows full of printed paper? Such a situation isn’t hypothetical:
—and if you think such couldn’t happen in Europe or America … it has. Inflation, and hyperinflation. Brrrr. I want money I’m involved with to both facilitate transactions AND be a ‘store of value’. Again, gold and silver … not printed paper.
And now: we are offered ‘Terminating money’? Do you remember the old game called “Pass the parcel”? But played (for real) now with absolutely nothing inside the final layer. (Nothing— but oh, so beautifully wrapped …)
3 cubic acres of money … what would happen to the ‘value’ of such if it were to be loosed on the peasantry overnight?
“While there was no obvious answers when dealing with a global pandemic, he said he believed the next wave “will be economic”.*
Yesssss … indeedy. You ain’t seen nuthin’ yet~!
Doom, gloom, despair despondency—”
“Yes, Little Virginia?”
“Sir—why are you always so doomful and gloomful—”
“… What do you have to do with borrowed money, Child?”
“Sir, you have to pay it ba— oh!”
* snippet from:
tourism-based operations. Face it, people are going to be shonky about moving out of that nice warm homely ‘bubble’ for quite a while. So opportunities abound for those who test the wind and can set their sails accordingly.
And now, your depressing clip of the day—
“If you ask most operators whether their business can survive on 10% or less of their last year’s revenue, they would say “no”.
So adventure operators are going to have to convince New Zealanders to spend more — but even if we did this successfully and domestic numbers doubled, very few operators can survive on just 20% of the previous year’s revenue. Therefore it is a pretty grim prognosis if borders stay closed.”
—make of it what you will.
It refers to Kiwiland’s tourism industry, and is from:
Sourced: CLICK HERE
YOU TAKE IT—
—I JUST make the inane comments.
If you’re familiar with New Zealand you’ll know that this news is a 24-karat five star gob-smack. Unexpected? Not really in today’s environment of the dread flu bug. Thank God for that bug, we can blame everything on it (even Global Warming, Miss Greta, are you missing a trick here?)
So I guess shares in various ancillaries will go down too; transport & haulage, inks, chemicals … printers, editors, reporters, photographers … paper, warehousing, coffee … pension schemes, insurances … but will there also be opportunities opening for quick-off-the-mark entrepreneurs? Possibly “one ring to bind them all” as in a new single all-embracing glossy magazine?
IN THE MEANTIME
Don’t talk to me—
—I’m in mourning.
turns ‘game’ into War.
AND THAT IS
exactly how this thing is going to have to be beaten. No? So from somewhat scanty evidences I offer only broad-brush conclusions:
- the world as we knew it
- is already gone, defunct, history.
The new world will be different. Certainly a lot less pleasant—less freedoms, less purchasing power (less to purchase anyway) … with a helluva lot more “make do and mend”.
As always some clever people will make fortunes—to not digress, I’m expecting the ‘price’ of genuine money to curve upwards and suddenly go ape. (Clue: by ‘money’ I don’t mean fiat stuff.)
AS THE OLD
saying now goes:
Eat, drink, be merry;
for tomorrow we diet.
And diet we shall. I don’t see how economies and currencies can stand up under what is coming; a depressing thought … perhaps some oblique thinkers may yet save us? How?
“Stupid nut! Stupid stupid nut!”
—from today’s ‘Southland Times’ (online) I sumtimes ponder the value of education these daze. Does no-one else morn the now extinct Proof Reader? So: what actual did the scribe in question intent by that pargaraph?
Hey! Done ask me, I’m just a dum mutt … ask the Editor, who never publishes my letters anyway. (But dum dog or not, if it was me in charge of dishing out them free lunches I’d be tempted to target areas where child poverty is high.)
Then again perhaps that reporting is, after all, spoton. Perhaps Ime jumping to conclusions, byteing the red hairring and perhaps it really is targetted at folks who don’t need it ‘cos it byse their votes?