In the near future of last week, we have a neo feudalistic world of Rent Seeking Landlords and Corporations debating the efficacy of the existence of minimum wage in order to not pay their employees (like at-all), and wagies spending all of their money on avocado toast, Netflix, and food delivery services but still wonder why they’re broke as they scroll through their own self-hatred fueled algorithmic depression screens making them feel like shit because they’re too retarded-ly hopeless to learn self discipline.
In this world of yester-week, We have created debt slaves and debt workers, wagies, wage-cucks for Wage-bux, drinkings starcucks financed by OnlyFans and the biggest money problem of our society looms over all our hearts, but never the minds.
That Big Money Problem in our society is that;
We Value Debt.
But first, let’s talk about Fiat before going into Debt.
The Government’s US Treasury creates Bonds, Bills, and Notes. All of which pays the holder monies over time at some rates dictated by Treasury and Federal Reserve as some weird Interest rate Circle jerk scheme.
These Securities (T Bonds, Bills, and Notes) are basically glorified ‘I.O.Us’ that the Treasury sells with the Federal Reserve in some shitty auction, all of this to act as a collateral to print more money.
And Money is basically an I.O.U., just, you can’t redeem gold. So it’s more or less a shitty I.O.U. that is -what’s the word?- irredeemable.
“When you or I write a check, there must be sufficient funds in our account to cover the check, but when the Federal Reserve writes a check, there is no bank deposit on which that check is drawn. When the Federal Reserve writes a check, it is creating money.” -Boston Federal Reserve
Here is an infographic from Mike Maloney, I’ve added extra commentary/writing/notes;
So the Treasury with the Federal Reserve create Government I.O.Us that the treasury owes interest on, in order to print money I.O.U.s that inflate and depreciate in value. What a scam, lmao.
Lmao (again), welcome to the Clown world of Fiat.
Debt becomes a virtue in the fiat world, by virtue, I mean something that people actively seek to collect and more importantly create.
We thrive off of ‘debt’ as an asset class. Because for someone to owe money, that implies that someone is getting money. So to make ourselves richer, through the reflective practices of making someone else poorer.
So all of the ‘valuable’ financial assets being used as the backbone of the entire (global) economy, is debt, an I.O.U. backed by I.O.U.s being cycled through Repos, reverse repos, and other shell game tricks of laundering I.O.Us.
I mean, Treasury assets are I.O.U.s and Money is an I.O.U. . . So we use I.O.Us to generate I.O.Us which we recoup in taxes to pay back I.O.Us. . . But whatever.
No longer trying to hold on to US Dollars, I mean why would you?
It’s a game of hot potato and no one wants a shit asset that is depreciating while the rising costs of inflation beat the entropic treadmill of Most People’s portfolio returns.
So, obviously, we need assets better than money.
And what better asset than Gold? –Oh wait, we got off the gold standard. So, fuck precious metals I guess?
Anyways, we get an asset in which the asset itself underlyingly shits out money at interest beating inflation. It’s like a goose that lays a golden egg, but that egg is money.
This mythical asset is called Debt;
If Debt is the new creator of Money, then Debt is basically the new ‘gold’;
Because before, we had our money pegged to Gold, it was a note that was redeemable in gold. Now in the fiat land, we have debt replacing that gold, so now we redeem debt with . . . *looks at notes* debt, so it’s really irredeemable. However, debt acts as a placeholder for gold, meaning in this world it’s as good as gold.
Debt: It’s as good as gold.
Side note; What happens when Fed Bois fuck with ‘Gold’?
So with the Federal Reserve being economic retards, they keep lowering the interest rates, which means that even these Bonds and assets, are getting shittier. A totally not safe bet.
Now people have to find ways to actually use their money to spur economic growth in the hopes that they can maintain their wealth, if a small chance, possibly increase it. So what happens when you (coupled with inflation) force people out of a safe comfortable asset class called ‘debt’?
You get degenerative gambling. If you’re money is no good sitting still, then people are going to MOVE THEIR MONEY. that’s like, fucking logic. I swear some economists need to be Fired and thrown into stocks to have tomatoes rain upon them (in a non-violent way, clarifying for legal purposes).
This would explain the whole social trend of yoloing your life savings, because, I did the same thing.
And it’s a way better investment than working hard for hardly meager pay.
(Also, side note; Hey you fiat Modern Monetary Cult Theorist, you can’t deny the Alchemy of Equivalent exchange you fucks. It goes against Duality, Buddhism, Taoism, Hermeticism, alchemy, reflections, Newton’s third law, etc. GUH)
What Happens when there’s ‘New’ Gold?
Simple, when gold is discovered, there’s a Gold Rush.
If there is a Gold Rush, then that would mean that people are trying to mine more gold, If Debt is the new Gold, then Mining more Gold in terms of Debt would translate to;
creating more Debt.
Debt is as good as gold, we create more of it. We have a GOLD RUSH mining for gold-or in this case a bunch of I.O.Us.
Debt is traded as an asset valued like that of gold, it is used as a ‘security’ that can act as a collateral ensuring that it hedges against the risks of the trade, or debt thereby becomes the value in the trade.
Mortgages, Debts, margins, even unpaid debt, collections, etc.
In the world of banking, there is a such thing as ‘good debt’ and ‘bad debt’, but the ‘best debt’ is;
Here’s the same thing but in pyramid form;
This is partly why the whole banking world has turned upside down. That and the bankies need ‘good assets’ of debt as collateral to allow their money printing, justification, lending, and other fractional reserve practices. So Debt becomes well sought after, meaning the US Government’s debt is good, but only as good as the US Government. . . So, well, let’s not bet on the collapse now. . .
Let’s go down memory lane and look into our 2008 situation. We had a bunch of financiers printing out new mortgages and leases as if the Debt itself was a gold mine, which for the analogy here, it’s quite succinct.
So we started giving mortgages left and ‘write’, to fragment the Mortgages and then bundle them up into a bunch of Baskets which ‘diversified’ the debt and became a new asset class that we falsely labeled as AAA. Then people were degeneratively gambling on the outcomes of these baskets, thus driving a higher demand to create more debt baskets.
So then companies and banks started springing up left and right offering mortgages and tons of housing debt to people who weren’t able to afford the homes and other things. They would eventually default, but people didn’t care because they originated the mortgage, and sold it off.
So we have a bunch of mortgage originators incentivize to make contracts with you, your mother, your neighbor, your dog, and everyone gets a contract for houses. All of which gets pawned off, thereby making it not the mortgage originator’s problem.
Meaning Housing debt went up high as fuck, and then we had the bubble burst.
Thus I conclude, that;
Creating debt is the modern equivalent of mining for gold in a Fiat world.
That Student loan debt;
Now, let’s look at something similar and more relevant to the next bubble,
People are handed student loan debts at increasingly high amounts.
Colleges and universities are increasing the costs of tuition and other shit, because the huge demand for a degree and lack of supply of seats in their institutions means that prices goes up.
So Student loans by virtue of having to pay for everything also go up. Stonks.
Ironically, the retarded children signing themselves up for student loan debt, aren’t even educated enough to read their contract. They just get shoveled by their academic counselor into signing for something they don’t know anything about for a career field they know nothing of, based only on how ‘cool the names sound’ of their profession.
A total scam.
But what happens is, creditors and lenders offer more debt, because they don’t care about your loan, they just want to get you to sign it to pass the buck and sell it off to the next guy.
Ontop of usury rates, this is going to be rough.
But also because we value debt in this Fiat World, we can’t just offer forgiveness.
So, uh, it’s complicated but don’t hold your breath for a retarded student loan forgiveness. Even though the political clowns have done more retarded stuff recently. It’d be better to pay down your student debt than to make minimum payments or refinance, or some retarded thing. It’s better to live without debt unless you know what you’re doing.
but obviously, I mean, look at you.
In a weird way,
Debt is sort of like suffering,
And for whatever reason, we’re saddistic and masochistic to like and embrace our suffering.
We even one-up each other in a game called ‘privilege’
Oh, you were born from a silver spoon, you don’t know what its like to be (insert suffering, i.e. Homeless, Fatherless, gay, poor, bullied, death in the family, not being white, being white, being male, being female, student loans crippling, huge debt, being a side character in life, etc.)!
Yea, that’s right, our society is a clown world where we use crutches and vices as a social tool to lean on in order to justify our mediocrity. As if making excuses becomes a way for us to catapult our social class unironically, we’ve retardedly made Vices a Virtue. More specifically, we’ve made our suffering from vices, a Virtue.
“Well, I suck Dick and my life is shit, but that’s because I had a rough life.” -idiots
go kill yourself. I think what I’m trying to say here, is that you will live a life full of vapid ephemeral feelings and no one will love or care for you because you don’t want to, aren’t willing, to put the time and effort to develop a genuine sense of self to boldy face and venture your shadow that you repress and brag about repressing. That’s not a way to live life, that’s a mental illness.
AND having a mental illness isn’t a good thing, so don’t add that to the list of crutches you carry around in your clown toolbox to justify your existence to every passerby that incredulously wish you were stomped on.
I digress, what I’m trying to say is. Our Base structure and foundation of our Monetary debt system of glorifying debt may or maynot have sociological ramifications leading to how retarded society is.
I mean, just look at the so called ‘higher education’.
Jumping through hoops in debt, to justify our stupid society.
Much like applying for a grant or disability tuition waiver, or even a scholarship for being ‘different’, we lie ourselves or over do the homework to write into a piece of paper our crutches and then personify them because, well, you’re retarded.
Like I don’t have enough time in the world to explain the magic we cast with words, and how you could literally cast spells on yourself by being retarded. That’s like explaining why you shouldn’t point guns to your face, because you’ll be in disbelief without experience.
Anyways, I’ve strayed off topic long enough,
Originally, I was going to title this article as “Bankie and Neofeudalism An Essay and critique” but that sounded too sincere and would’ve been much longer of a critique and not enough shit postery, so I’ve gone ahead and fired my Editor to hire a new one. Now we’ve got a working title to work on and that’s the work. The Ambedo Opus.
The big takeaway from this article is that we removed the gold standard and created a debt standard, which means for further economic growth, we need more debt.
Oh, also the Fed Bois are definitely cooking the books, but I didn’t explain how, so ignore this sentence.
The biggest tip I can give you that’s definitely not valid advice is;
During a Gold Rush, Sell Shovels.
When the ‘Gold’ is Debt, what then are the ‘shovels’?
That’s the million dollar question,
*Not Valid Financial, Legal, Life, or Any Advice