Vienna 12/02/2020
Don’t talk about money – so I write.
Economic question:
What happens when money is printed on a large scale while the number of products and services on the market is limited?
There can only be one answer – inflation. The laws of the economy are inexorable. It starts with rising prices. Well, we’ve had it before. But we also had minor price cuts.
If, at the same time, more and more companies go bankrupt and people lose their jobs, this will reduce production and thus further increase prices. If the state counteracts this by printing new money, we will get hyperinflation.
I’m not an economist and I don’t express myself professionally, but the effect will be just that.
Most experts say that hyperinflation will come next year in 2021.
It is estimated that around 25% of companies in the world will cease to exist once the legal protections that allow them not to file for bankruptcy if the company becomes insolvent ends.
People who have managed to save money are already converting it into precious metals, crypto currencies (e.g. Bitcoin) or buying shares in companies such as Amazon or Google.
And how has the situation among the richest people in the world changed this year?
Source.
Please note that US billion in Europe equals 1.000.000.000,00 $.
As you can see, all of them without exception increased their asset from March 28, 2020. First place was taken without changes by Amazon owner Jeff Bezos. He made an additional $ 75 billion.
Our philanthropist Bill Gates fell from second to third place after he managed to increase his fortune by “only” $ 21 billion.
He was overtaken by Elon Musk – the owner of Tesla electric cars and space travel, the owner of the SpaceX company.
It was Elon Musk who more than quadrupled his fortune during that time.
These billionaires don’t have the money in their bank accounts. At least not much. Why? Because then wealth would decrease rather than increase due to inflation.
Bill Gates invests in the vaccine company, but not only. Nor does he despise the arms industry. As a proponent of eugenics, he influences the problem of overpopulation of the earth.
What is the problem with the introduction of virtual digital money and the end of the use of banknotes and coins?
Technically none. While such a change does not protect against inflation, it offers tremendous opportunities to control each of us.
I myself considered this protection of personal data to be a great exaggeration. I’m not a criminal and I don’t care if anyone knows what coffee I’m drinking today?
Apparently, but when such a tremendous amount of information about each of us is gathered and stored for a lifetime or even longer, it opens up opportunities for abuse.
Personality theft – when someone else claims to be me – is a lot easier when you have all the information about when, where, and what I’m paying for.
See how easy it was a month ago to fabricate millions of bogus votes in the US election.
Vienna 1/19/2021
I received a message from Canada that the comparison I presented of the income of the richest people in the world is true, but …
It is precisely this presentation of the facts that is no different from the state of “illness” and “infection” reported by the media.
This is best understood by looking at the S&P 500 course per year:
It follows that the date of March 18 was chosen to have the highest income of the richest without taking into account the huge loss just before that date.
In the end, these people got rich anyway, but not in the billions as I mentioned earlier.
Their ranking is well presented and does not need to be corrected.
I apologize for the misrepresentation.
Author: Marek Wojcik