Simple, all of them…
So enjoy while the upcoming Weimar fuckfest runs its course.
What’s the usual pattern?
- Denial. People flocking together because group-think and greed.
(Hyperinflation? You must be mad! Just look at the stock market! Or Bitcoin!) See the Bloomberg and NYT bullshit.
- Bargaining. The realization moment. The moment stuff hits the fan. Starting to happen now.
People finding excuses for how they were FORCED into this (and why they need a bailout/preferential treatment) and/or why it all is not such a bad thing. The usual TINA stuff. See the link to the Bloomberg and NYT drivel.
Extracurricular question: How come oil is still payed for in dollars?
- Anger. Difficult questions are gonna be asked. “Who the fuck let this happen?”
Usually asked by the very same people letting it happen in the first place.
For the definitive answer, we will have to wait to see how the
socialmedia circus is gonna spin this one. They will try to convince you it is some “foreign power” if you are the kind of social sucker that socialbrainwash networks prey on.
- Depression. The amplitude of this phase is directly proportional to the amount of previous over-monetization. Expect a visit from the nice people of the IMF to help you out of your troubles.
This time will be just like last time or the time before that.
Oh wait, there is a difference, this time will be bigger and better!
“It is not a currency. It is not a unit of account, it is not a means of payment, it is not a stable store of value. Secondly, it is not even an asset. There is no income. There is no use. There is no utility. The only thing is a speculative, self-fulfilling kind of rise, and that rise is driven totally by manipulation. — Roubini
NOW – Dollars in circulation (M1)
THEN – Silver content of a Roman Denarius
Silver content plummeted across the lifespan of the denarius. Under the Roman Empire (after Nero) the denarius contained approximately 50 grains, 3.24 grams, or 1⁄10 (0.105ozt) troy ounce. The fineness of the silver content varied with political and economic circumstances. From a purity of greater than 90% silver in the 1st century AD, the denarius fell to under 60% purity by AD 200, and plummeted to 5% purity by AD 300. By the reign of Gallienus, the antoninianus was a copper coin with a thin silver wash.
Remember, after the Roman Empire dissolved it was replaced with tribalism, superstition and the christian cult of fear!