In Financial Relativity Theory it's all about the frames of reference. Useless gold continues to just sit there, dead and forlorn, for thousands of years, immutable, going nowhere and certainly not drifting upward.
But if viewed from the frame of reference of a $billion bucks worth of MMT financial relativity theory where quantitative easing, helicopter showering, greenback printing and dilutionary pixelating profusion are normal, then gold will appear to be lofting upward in value.
Gold has consumed the lives of those who dug it up at great cost of some $1000 an ounce at the current $50 per barrel oil cost. Turning oil into gold then storing the gold back into a hole in the ground, then paying to guard it forever is an odd way to spend one's life.
In the 30 year time that gold has gone from distributed in rocks to stored as ingots in bank vaults, consuming 20 barrels of oil per ounce stored, Qualcomm took some mathematics, applied it to very cheap silicon found freely available on your average beach or in bottle recyclers, creating ethereal mobile Cyberspace which is fantasmagorically useful to everyone.
I knew it would change the world but holy cow it has redefined reality. Everyone carries at least one interface and here in Singapore they even have stereophonic Earcells (tm) for hands-free aural interaction.
With their corona masks and white Earcells it's a peculiar sight. But obviously much more valuable to them than gold which remains dead and stored, ignored and irrelevant.
Many of them work in dozens of towering buildings with signs like Citibank on top, messing around with MMT financial gerry-mandering.
I plan to put those buildings out of business with my swishy new Cybermoney. Bitcoin was a half-baked good try but badly designed.
Developing a sensible unit of value is a project worth $100 trillion. I have made great progress with nearly everyone equipped with the basic tools.
Stone age gold hoarders will still just have a little stack of gold when the world moves on. Hoarders of US$, euro, Zimbabwe, dong etc will have nothing but promises and "In God We Trust = they do not trust in the politicians, electorates or federal reserve bankers.
Mqurice |
