Financial, Economic and Social Mood Update (December 1, 2021)
The total global cryptocurrency market hit a record high market capitalization on November 10, 2021. Bitcoin BTC and over 15,516 other privately launched electronic digital cryptocurrencies have been surging in value. They have already matured to a large degree, having replaced 74 percent of commercial and investment banks all over the world. Traditional commercial and investment banks as we have come to know them over hundreds of years will likely cease to exist by the end of the first trimester (i.e., one-third) of 2022 – this is how rapidly things are changing over into the new digital financial system.
Assuming that such currencies will replace all existing global paper fiat (government) currencies, Bitcoin BTC and other privately launched electronic digital cryptocurrencies have merely 198 fold left to increase in value. This calculation assumes that financial derivative instruments will continue to survive in their current volume, which is entirely imprudent. Financial derivative instruments can be thought of as “bets” which money center commercial and investment banks make upon the financial performance of anything and everything. Why are they imprudent? It would be like if you only had one Dollar to your name, but you promised to pay someone else 5 Dollars that you had no way of obtaining.
If financial derivative instruments were removed from the picture, then the maximum remaining average upside potential for cryptocurrencies equals just 36 fold from where they stand today – this assuming that cryptocurrencies will completely replace all paper fiat (government) currencies. The “window of opportunity” for people not yet invested in cryptocurrency is rapidly disappearing, and the remaining life span for the government paper fiat currencies is almost over.
It is so sad to see happen and to say – it has been just 13 months since the US Presidential election of 2020, and America is doing down in flames at such a rapid pace which none of us could have imagined. The entire world is experiencing a downfall, but with America devoid of any leadership the downfall is that much more devastating. The sham known as the “Green New Deal” is by no means confined to the USA – it is a global plan costing no less than USD $150 TRILLION. It purports a transition to clean energy, but as Steve Forbes so accurately said, its supporters never mention truly viable clean energy options such as natural gas or nuclear (especially nuclear fusion). This alleged “green” push is also leading the world to lithium battery electric cars and trucks. The ingredients needed to manufacture these batteries are already destroying the fragile environment in places such as Chile (the water needed for the lithium batteries) and the Congo (the minerals needed for the lithium batteries). The auto companies investing in this technology may destroy their own future if hydrogen fuel cell technology proves to be the better choice: https://www.hotcars.com/reasons-why-hydrogen-fuel-cell-is-better-than-evs/
The sole major global car companies which currently market brand new hydrogen fuel cell technology passenger vehicles include Toyota and Hyundai – the others (with the necessary capital) are putting all of their eggs into the basket of electric vehicles. Hydrogen fuel is very readily available – it is merely the infrastructure for distributing and selling it which needs to be upgraded. Existing energy companies (oil and gas companies) refine this product, and the existing network of gasoline stations would have to upgraded to dispense hydrogen in addition to gasoline, diesel fuel and ethanol. The concept of hydrogen fuel cell vehicles is not difficult to understand. The hydrogen fuel takes roughly 5 minutes to refill the car’s fuel tank at a gasoline-like pump. The fuel recharges batteries which make the car go.
Hydrogen fuel cell technology is of course related to nuclear fusion technology – the same energy which powers the Sun and all of the stars. Most people may not realize it, but this IS the technology of the future. It is plentiful, inexpensive and safe: https://www.reuters.com/business/energy/us-zero-carbon-fusion-energy-startup-helion-raises-500-mln-2021-11-05/.
As a short follow up to last month’s reference to the rapidly imploding (shrinking) US labor market, if people continue to stop working at the current rate over the last few months (be it via retirement or by way of outright resignation), literally nobody will be working for a living in the USA by the end of May 2023. Trends never continue in a straight line, but this merely illustrates the massive magnitude of what is taking place right now.
