just below it, the next paragraph describes, in a nutshell, our new financial systems basis. and then the overview begins
System Will Restart”
BY TYLER DURDENSUNDAY, APR 04, 2021 – 12:51 PM
By Eric Peters, CIO of One River Asset Management
Dusted off an anecdote from 2016 that explores the meaning of money. It is worth considering after a quarter in which the US dollar declined by more than 50% versus the dominant digital assets and the S&P 500 closed at an all-time high.
“People work in order to convert their time into a unit of account,” he said.
“We call that money, and it’s an invention that allows us to store time.”
Most people have stored little or none. So when they receive money, they quickly purchase necessities; food, shelter, health care.
“People who are able to save money inevitably purchase real estate, stocks, bonds – all of which are alternative vehicles for storing time.”
One share of Google stores 70 hours of work for the average American, or 2 hours of copying-and-pasting formation documents for the average hedge fund attorney.
“Bill Gates has stored enough time to fund a 1bln person army for 20 years.”
As the gulf between people’s income has grown, the amount of stored time has accumulated in fewer hands.
“Wealthy people convert their hours into financial assets so that they can accumulate excess hours relative to their fellow man. But the average worker is simply thinking how to exchange hours for dollars and then exchange those for food.”
Central banks face a different problem altogether.
They need to get people who’ve saved time to exchange it for something other than clever inventions that store it.
They’ve largely failed.
So now, everything that stores time is extremely expensive and offers little or negative return, while the pace of economic activity slows.
“The problem that we face now is that there is simply too much time that’s been saved. Another way of saying it is that there’s too much capital in the world, in too few hands.”
To restart the system, capital needs to change hands or be destroyed, spurring people to rebuild their store of time, rather than just save it.
“It is an elemental truth that at some point, through inflation, war, or confiscation and redistribution, this imbalance will correct, and the system will then restart.”
How are we different
In TH future all pricing of everything will be based on the actually human hours ( and human hour cost will be same basic hourly wage for all humans with a “years of training”, think doctor, and a number of persons managed factor added on to it , think the president of general motors ) used to get the item to its location WITHOUT the cost of money,, profit, interest, finance charges, insurance, etc etc etc etc no matter what it is if it has been made by humans.
So as an example the cost to mine an ounce of gold in human and machine labor is curranty about $600 in the developed nations. in underdeveloped nations where guys are out in mod bowls working with rudimentary equipment it is only a few dollars an ounce to obtain . once it goes into a ring and it finished you have to add transportation cost and manufacturing costs overhead for store and employees that sell it etc , to have a final cost or TH value. The same thing for food houses money health care etc etc etc
https://www.payscale.com/research/CA/Job
chinas new digital nation al currency with an expiry attached
https://www.zerohedge.com/crypto/chinas-digital-yuan-comes-expiration-date