It’s more sanitary.
Our system is based on constant movement.
Once the nickels and dimes stopped moving from the customers to the stores, and the stores didn’t have anything to deposit to the banks. The banks didn’t have anything to send to the federal reserve.
The real world is opposite of Reaganomics.
It’s not trickle down and it never was trickle down
It trickles up. Even the nickels and dimes.
If nobody uses nickels and dimes anymore at the customer level, then the federal government has none.
And as you can see, it happens really really really quickly.
Capitalism is Hollow.
There’s an idea that’s been floating around for decades – at least the 1980s – I think – to take $100 dollar bills out of circulation.
The reason is crime.
That’s the main push for going to a card society.
That’s the birth of capitalism.
Of course people bought and sold goods before but that wasn’t capitalism.
It’s acceptable worldwide and it’s untrackable which is why international criminals depend on physical US dollars to operate many functions.
Im neither for nor against it I just find it interesting.
People are hoarding.
Or saving. Depends how you look at it.
They can’t print any more because the coins are out there they’re just not circulating.
I’m not into the politics of communism versus capitalism all that much.
I just know my history.
The banking system is not evil in itself.
We need the world banking system for capitalism to function.
I’m OK with international banking.
I’m not equating today’s jobs with slavery.
I’m not advocating for 19th century Marxism.
But I know that modern capitalism begin in the middle ages.
They did not have a job system that was equivalent in ancient Rome.
The closest thing they had was slavery.
Slavery is not the same as having a job.
Being a serf in the middle ages is not a slave.
Being an Irish indentured servant in America is not a slave.
I know the difference between slavery and not slavery
I first heard about this 20 years ago with an economist that I corresponded via email named Kenneth Rogoff.
He was a writer for CBS market watch at the time.
I looked up to him and his writing and we went back-and-forth for about a year.
One thing he talked about was an upcoming period of austerity.
He said somewhere around 2025 that would be that.
The systems have been grinding to a halt for a while living on false hopes and vapors — remember the late 90s early 00s were the days of “dow at 30,000”, enron etc.
Flash forward 20 years, it turns out kenneth rogoff is a big shot.
He studied the economies of entire civilizations.
He started in the middle ages and worked to today and found patterns.
That’s how he knew about the economic downturn that was coming in 25 years.
It’s 2020 so in theory we have five more years to prepare.
But I think there’s been a big money grab at the top over the past 3 1/2 years.
Might have shortened things.
You have to know how to work the gaps in the system.
There is structure and there is flow.
Exploiting the market is different.
When I invested, it turned out I am a contrarian investor.
That’s my personality and that’s why I liked his writing because apparently that’s his style too.
Most people follow the big shots without realizing that they were living off of the vapors of credit and aren’t as rich as they usually appear to be.
It’s very easy to fake wealth and to inflate net worth.
I can’t do it but I know it’s doable.
For me, my investing style got me through the .com crash successfully, where i profited when others failed.
I only invested for perhaps 18 months and I got to live off of that money for 14 years and get a mortgage which I’m still at.
It’s what I wanted no less no more.
A house in the woods for the last 18 years.
It’s a struggle but it’s fine.
you have your own priorities in life.
I’m not telling you to follow this guy.
I did. He is a member of the G30. He wrote “eight centuries of financial folly”.
But he was just a guy whose ideas I agreed with in 2000/1.
I know nothing about the market in 2020.
I see a bubble. Big.
But I also see incredible movement which I’ve never seen before.
As long as they keep busy, it won’t fall down.
I did my investing and had my fun. 2000 is not 2020 In this investing world is different than the one I knew.
When I played, my methodology, which nobody told me but it was through trial and error., was buy and hold.
I invested as if it was going to be forever (Warren Buffet), but I was aware that people are generally emotional and to find opportunities the cool kids aren’t seeing while looking for pumping (George Soros).
So I bought for 18 months and stopped. I only sold each when it was about to fall, and used it as income in our new house to start a modest business.
Last one I sold was in 2014, so it was a nice 14 years out of 1.5 of work.
I didn’t and don’t understand the politics of it all. I was only focused on my needs and wants and how I could get there.