“The last great bubble is faith in central banks.”
― Michael Gayed
That is also true of bitcoiners, gold bugs and others who have learned about the inherent evils of the central banking Ponzi scheme. Because everybody still seems to think that central banks providing massive amounts of liquidity will be stimulative by default. And I get why it’s easy to believe that - it has been true throughout all of our lifetimes. But what if that stops working? What if the crisis gets so bad that literally all of the money they print, no matter how much it is, will go only towards putting out fires, both literal and metaphorical? To subdue protests, to provide emergency services amidst chaos and turmoil, to feed people who have lost their jobs (and perhaps families), and who are unable to put food on the table in an increasingly stagflationary environment? To pay off interest on national debts, to prevent the bond and stock markets from completely collapsing, to bail out banks (of course), to provide emergency housing, to introduce and enforce increasingly Draconian measures in order to suppress the uprisings, revolutions and capital flight? To hunt down and persecute the dissidents, the rebels, or whoever they deem is "to blame” for whatever is happening?
I hope I’m wrong here, as in - it does not get as bad as described above. But I think it is important to keep in mind that we are, from a historical perspective, in the Fourth Turning of a generational cycle and this sort of stuff is usually embedded into the societal shift that is happening.
Stay safe, stay sane, and most importantly, take care of yourselves, friends 🧡🤠
WAGMI #plebchain
Kontext
npub1qf…8xnrh
2024-08-07 16:11:42
Author Public Key
npub1qfc7rwddjl3lzhkhgge8ch82xjfm6e3gqcgk8zm6pahz3tvvl7gq88xnrhPublished at
2024-08-07 16:11:42Event JSON
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"content": "“The last great bubble is faith in central banks.”\n― Michael Gayed\n\nThat is also true of bitcoiners, gold bugs and others who have learned about the inherent evils of the central banking Ponzi scheme. Because everybody still seems to think that central banks providing massive amounts of liquidity will be stimulative by default. And I get why it’s easy to believe that - it has been true throughout all of our lifetimes. But what if that stops working? What if the crisis gets so bad that literally all of the money they print, no matter how much it is, will go only towards putting out fires, both literal and metaphorical? To subdue protests, to provide emergency services amidst chaos and turmoil, to feed people who have lost their jobs (and perhaps families), and who are unable to put food on the table in an increasingly stagflationary environment? To pay off interest on national debts, to prevent the bond and stock markets from completely collapsing, to bail out banks (of course), to provide emergency housing, to introduce and enforce increasingly Draconian measures in order to suppress the uprisings, revolutions and capital flight? To hunt down and persecute the dissidents, the rebels, or whoever they deem is \"to blame” for whatever is happening?\n\nI hope I’m wrong here, as in - it does not get as bad as described above. But I think it is important to keep in mind that we are, from a historical perspective, in the Fourth Turning of a generational cycle and this sort of stuff is usually embedded into the societal shift that is happening.\n\nStay safe, stay sane, and most importantly, take care of yourselves, friends 🧡🤠\nWAGMI #plebchain",
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