Warren Buffett's take on this: https://www.youtube.com/watch?v=HVm7Pfb0ilY
Saibal On 12-07-2022 17:26, Lawrence Crowell wrote:
Currencies are in some ways just as artificial as cryptocurrencies. In fact, most everything humans chase after is spun up as whole cloth, from countries, to gods, to money to belief in comrades in arms and so forth. Most everything humanity does is ultimately fake. Money is stuff we just "make up." Even the value of gold is something we "make up." We might be better off if we stopped making this crap up. However, with currencies at least in a representative system the average person has some impact. The crypto-currency trend has been the culmination of Milton Friedman's strange dream of privatizing almost everything. In that setting the average person only has as much power in the system as what they hold. An Elon Musk or Bezos etc has vastly more and so they not only have more power, they have more power to get more. A world of complete private forms of currencies is one that will lead to a sort of monetary feudalism. There will at some point be a few people, financial institutions and banks that own it all. They would come to be the overlords of the world. The collapse of the cryptocurrencies and bitcoin is something of some relief to me. The next dark age may be forestalled a few years at least. LC -- You received this message because you are subscribed to the Google Groups "Everything List" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To view this discussion on the web visit https://groups.google.com/d/msgid/everything-list/2df15bdf-0573-4664-8582-f7b276a401bbn%40googlegroups.com [1]. Links: ------ [1] https://groups.google.com/d/msgid/everything-list/2df15bdf-0573-4664-8582-f7b276a401bbn%40googlegroups.com?utm_medium=email&utm_source=footer
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