218 sats \ 6 replies \ @gabybaby 25 Oct 2023 \ on: Meta Econ Takeover Day 9 meta
Beyond the likely rapid recalibration of prices, everyone would instantly understand that fiat money is fake and the only real money is commodities (since fiat is just a medium of exchange to grease the wheels between current and future consumption/value exchange).
In either case, I would just plow all of it into BTC I don't really care what other people do haha!
everyone would instantly understand that fiat money is fake
That's so optimistic.
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I don't think so - I think the act of creating 350 quadrillion FedCoins would reveal to everyone the elaborate long con. It's too bad that compared to the hyperinflation of the Weimar Republic, we won't be able to use FedCoins to stay warm!
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Is the scenario more or less interesting, if people do generally understand what just happened? I'm not sure.
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I think it depends on how you define interesting, and over what timeframe. I think in the short term it wouldn't matter; everyone will be clamoring and falling over themselves to convert that airdrop into real assets. It starts to matter more in the medium-term, with people who understand what has happened likely organizing themselves into more hyper-local communities for safety and value exchange.
I think it also depends on the kind of world we live in within that scenario. Are we already in a movement-restricted, rampant censorship, anti-liberty regime? In that case we may not have access to cash in on real assets if we "own nothing and are happy".
At that point I think the situation would devolve in a pretty linear fashion, with the available consumer goods readily depleted and supply chains shut down either due to overwhelming demand or rampant labor absenteeism.
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Are we already in a movement-restricted, rampant censorship, anti-liberty regime?
Well AOC is president, so that tells us something.
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organizing themselves into more hyper-local communities for safety and value exchange
The pricing mechanism would be so broken that barter would resume for some transition period? That seems pretty likely.
rampant labor absenteeism
That's one I was thinking about. We discussed it somewhere in this thread.
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