“Society lives and acts only in individuals…. Everyone carries a part of society on his shoulders; no one is relieved of his share of responsibility by others. And no one can find a safe way out for himself if society is sweeping towards destruction. ” —Ludwig von Mises
Remember, you are a sovereign individual and the blob in our nation’s capital city is an undifferentiated mass of feckless protoplasm. You contain a cosmos of ideas and aspirations. The blob is an agglomeration of sham and failure. The blob stands for itself, not for our country. You and I can stand for our country.
Remember, also, that the economy of our country at its best was the sum of choices made by sovereign individuals, while the economy of the blob is a gelatinous buildup of unsound hypothesis having nothing to do with the pursuit of happiness. We sense this in the menacing rumors of a Federal Reserve digital currency, which entails the rehypothecation of our hopes and dreams into the blob’s waste-stream, turning everything we do — it can’t be put delicately — into shit.
The Fed digital currency will be used to cover-up the failure of end-state financialization of the economy. Finance, you understand, used to be a module of the economy, with a particular role to play. The purpose of finance, formerly, was to marshal surplus wealth from prior productive activity to make new productive activity possible. Financialization, however, does not do that. Financialization was an effort to replace the economy of real production with a hologram of production. Financialization is a racket — and a racket, remember, is an effort to get something for nothing, that is, dishonestly. The blob feeds and thrives on dishonesty, its favorite food.
Financialization seeks to replicate value not from wealth-producing activity but from things that only claim to represent wealth: stocks, bonds, currencies, and anything else that can pretend to hold value, clear up to notions and wishes. Its operations are based on “derivatives” because they aim to derive additional “wealth” from things that signify wealth, but which are not wealth itself. Each iteration of a derivative further abstracts its value from the real things originally signified, such as revenue-producing businesses, interest-bearing loans, leases, and contracts for delivery of commodities. Derivatives can be understood as false wealth, and when enough of them accumulate in a financialized economy, they will blow up the economy, spewing wreckage across an economic landscape.
Many observers of that landscape await such a blow up at any time now. They say it can take the form of a stock market crash, a bond market failure, bank shut-downs, and disorders in money (currencies). All of that can impoverish and immiserate a lot of people. We are living through a corrosive early phase of that now, the overture of a big blow up itself. The effects are felt keenly through the middle classes, who struggle in futility to pay their bills, keep their cars running, and feed their children.
Money for GREEN is Money for NOTHING !!!!!
Money for Nothing is money to the DEMOCRAT PARTY !!!!!
Dire Straights !!!!
Return to the gold standard, eliminate the fed.
Will the house of cards fall or burn first. Or both?