Detailed market commentary at The Market Ticker
(The Year 2012 In Review)
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|User Info||Fed: But Ponzis NEVER Run Out Of Suckers!; entered at 2012-06-19 12:51:48|
Registered: 2007-10-25 Ann Arbor, Mi.
In reply to above question about are we again like 1929, I think the present is more like the early 1930's. It's a smaller world after all.|
I wish to share a great collection of articles courtesy of IEEE, the engineering society I grew up with in my career. Here are some opinions from people who are interested in the impact of technology on how people live (part of "engineering"), what is "cash"? Is cash nowadays really mostly if not all "credit"
and do people have a gut feeling that even "credit" is nothing but trash?
June 2012 Cover Story: "The Last Days of CASH"
My own opinion:
An essential property of cash, from a personal viewpoint or from a business owner's viewpoint or a trader's viewpoint, is that it is negotiable, fungible,
if it is to be in reality "saved" at all. That means, among many other things, that its normalized (thus useful for trading) VALUE cannot be turned off remotely by the flipping of switches irrespective of the rule of law.
Or am I being just an old fashioned di** head, or fa**, out of date?