What we have now is not capitalism. Capitalism requires hard money as a foundation. An inflationary currency whose supply compounds exponentially over time and which people are forced to use is not hard money.
Bullshit jobs are made possible by inflationary money printing. The current crony-capitalist system is only 'Darwinian' for those who are far from the money printers. That's why bullshit office jobs exist mostly in big cities; in close proximity to the largest inflows of newly issued 'capital' into the economy. For those who are close to the inflows of new money, it's a rigged, easy game. No talent involved. It's a game of first in, best dressed. They could throw money out the window and it would come flying back in. In the periphery, the story is completely different. Look up Cantillon effect.
It's easy to devise a scheme whereby you keep borrowing money from a bank to inflate the value of some intangible asset and then use that asset's growing 'value' as collateral against which you can keep borrowing more money and keep inflating that asset's 'value' ad-infinitum. You just keep taking out new, increasingly large loans to make repayments on the old loans. Just like the government does. At any point in time, this zero-sum scheme will always look profitable; you can keep it going so long as the banks allow. Banks will allow it of course, because the collateral 'value' keeps growing. It's only when people start talking about huge numbers like 'quadrillions', 'quintillions' and 'sextillions' that people will start to think something's not right. The game is all about who can feed the banks' own money back to them with as little resistance as possible.
A major reason why Bitcoin is so valuable is that it provides banks with an endless supply of bodies to take out more and increasingly large loans and feed it back to the banks with interest. Bitcoin's growth in value consistently outpaces the growth in interest on loans used to buy that Bitcoin.
What we have now is not capitalism. Capitalism requires hard money as a foundation. An inflationary currency whose supply compounds exponentially over time and which people are forced to use is not hard money.
Bullshit jobs are made possible by inflationary money printing. The current crony-capitalist system is only 'Darwinian' for those who are far from the money printers. That's why bullshit office jobs exist mostly in big cities; in close proximity to the largest inflows of newly issued 'capital' into the economy. For those who are close to the inflows of new money, it's a rigged, easy game. No talent involved. It's a game of first in, best dressed. They could throw money out the window and it would come flying back in. In the periphery, the story is completely different. Look up Cantillon effect.
It's easy to devise a scheme whereby you keep borrowing money from a bank to inflate the value of some intangible asset and then use that asset's growing 'value' as collateral against which you can keep borrowing more money and keep inflating that asset's 'value' ad-infinitum. You just keep taking out new, increasingly large loans to make repayments on the old loans. Just like the government does. At any point in time, this zero-sum scheme will always look profitable; you can keep it going so long as the banks allow. Banks will allow it of course, because the collateral 'value' keeps growing. It's only when people start talking about huge numbers like 'quadrillions', 'quintillions' and 'sextillions' that people will start to think something's not right. The game is all about who can feed the banks' own money back to them with as little resistance as possible.
A major reason why Bitcoin is so valuable is that it provides banks with an endless supply of bodies to take out more and increasingly large loans and feed it back to the banks with interest. Bitcoin's growth in value consistently outpaces the growth in interest on loans used to buy that Bitcoin.