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272 sats \ 5 replies \ @SimpleStacker 25 Oct 2023 \ on: Meta Econ Takeover Day 9 meta
Prior to this happening, all the actual billionaires would have heard of this coming (probably from AOC herself) and unloaded all their cash holdings for real assets.
Fiat is devalued and becomes worthless. Any chumps holding cash are wiped out. The poor stay poor and the rich get even richer.
Haha love the first response went to the system is corrupt, politicians are corrupt, everything stays the same with a little chaos in the middle.
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That's a good one. Even if we want to stick with the hypothetical scenario that doesn't involve them getting tipped off, they would have a serious first mover advantage. The wealthy already know how to make all those purchases and have people ready to make them happen almost instantly.
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I have thought about this awhile so I will post my ideas tomorrow. Let's see what other responses you get and then maybe we can both add our 2 sats tomorrow after the post has been up for a bit.
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I've never thought about this exact scenario, but I have spent a lot of time thinking about UBI and that has many similar, but scaled down, dynamics. I'm looking forward to diving into everyone's ideas for a bit.
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I don't think billionaires have a lot of cash holdings, which would make this effect pretty small.
One week's notice probably isn't enough time for pension funds to drop their treasuries, but that's where we would probably see the big dollar dump.
That leads us to another prediction: interest rates would go to the moon during the post announcement week.
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