[cryptica]

When 99% of people realise that they've essentially been scammed by the reserve banks, the backlash is going to be massive. There will be discussions about asset seizures and wealth redistribution. That's just a matter of time now. The cryptocurrency crowd knows this and wants this. They're helping to accelerate this. Guess what asset is hard to seize?

The masterplan is this: Let the banks mess things up, ruin people's trust in their governments and in capitalism, you move to a country that's unlikely to fall to communism, HODL your crypto, then wait it out then watch your crypto price moon as capitalists desperately try to flee into crypto to protect their wealth while their home countries fall to communism.

[imtringued]

I don't understand what you are trying to say. Negative interest rates combined with low inflation are literally the holy grail of capitalism. All investments that can be done at 0% interest have been done.

Honestly, I'm tired of "boomer capitalism" i.e. capitalism that thinks exponential growth that followed a devastating war should be permanent for all eternity. Essentially demanding that we have periodic wars according to the broken window fallacy.

Where is the "maximalist" capitalism that lets humanity reach its full potential instead of insisting on profit expectations that are divorced from reality?

I don't know what you mean by protecting "their wealth" because money is a promise to work. You cannot protect such a thing by using it to purchase a commodity because there is no promise that the commodity will be worth anything. Sure, the speculation is sort of reliable but it is still speculation.

[frockington1]

This question never goes well but I'll try it again. How would asset seizure happen? If the government says this is now mine, wouldn't most people say no? Maybe in a disarmed population this could happen but I don't think its feasible in America where citizens are heavily armed and raised in a culture that glorifies rebellion

[cryptica]

The government could easily seize all company stocks without any force. For private property, they could make people forfeit their assets - Create a situation such that if you don't forfeit your assets to the state then you will be a social pariah and won't be allowed to participate in the economy. You won't be able to buy food even.

But the thing is that if the monetary system continues down the current path, eventually, the most ardent capitalists will grow to resent capitalism and might turn to communism. Already a lot of young people want communism even those who believe that it's not going to work out; they like the reset aspect of it.

Same reason why people turn to dictators. When the situation gets desperate enough, people will willingly accept an obviously terrible option; just to reset the board. There is a point when people just want to see heads on spikes and are willing to do it at a cost to themselves.

[WalterBright]

> There will be discussions about asset seizures and wealth redistribution.

There already is. Asset seizures and wealth redistribution are central planks for Sanders & Warren.

[throwaway2037]

"[W]ealth redistribution" -- I smile when I hear this fiscal conservative talking point. I put this term in the same category as "penalising savers with low (central bank) rates". Hello Thatcherites!

Do you consider the wide and deep social safety nets of Canada, Uruguay, Ireland, France, UK, Germany, Austria, Belgium, Netherlands, Denmark/Nordics, Spain, Italy, Israel, Australia, New Zealand, Taiwan, Korea, and Japan as "wealth redistribution"?

From the perspective of an academic economist: I do.

From the perspective of an average working Joe, who is lucky to not yet fall into such safety net: I do not.

The social safety net is essential for a well-balanced, modern, highly industialised, capitalistic, wealthy country.

To be clear, when I use the term "social safety net", I mean (at least): healthcare, education, housing, unemployment, and retirement pension.

[WalterBright]

Is a wide and deep social safety net essential? All the biggest, most prosperous companies are US based.

> who is lucky

I know it's popular these days to say one's success is all luck, but we both know better :-) You've made some good choices along the way.