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    lynalden.com122 min
    2 reads4 comments
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    lynalden.com
    2 reads
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    • sjwoo
      Scribe
      5 months ago

      A long, LONG article on money, but one, if you come to the end of it, you will find fascinating. Here's the money (!) shot:

      "Never before, in thousands of years of human history, has the entire world been using a money that has no resource cost or constraint. It’s an experiment, in other words, and we’re five decades into it. Many would consider it a good experiment, while others consider it a bad one, but it’s not as though it is inevitable, or the only possible outcome from here. It’s simply what we have now, and who knows what things will look like in another five decades.

      Ever since the world has been on the fiat/petrodollar standard, debt as a percentage of GDP has skyrocketed to record levels and seems to be getting unstable. Considering where we are in the long-term debt cycle, investors would do well to be creative with how they envision the future. Don’t take the past 40-50 years for granted and assume that’s how it’ll always be, whether for money or anything else. We don’t know what money will look like 50 years from now."

      1. Is it any wonder that throughout history, so many have tried (and failed) to convert lead into gold?
      2. How lucky Americans are, that we are the reserve currency of the world...
      3. ...or are we? Or, because the world uses dollars for oil, are we kinda screwed?

      So much to ponder.

    • jeff
      Top reader this weekReading streakScoutScribe
      5 months ago

      A truly epic article! Very readable as well despite the length. Loved all the history and depth of discussion. This is a big, important topic and it deserves all the words. Highly recommended!