Quote from: https://www.armstrongeconomics.com/world-news/sovereign-debt-crisis/the-ship-is-sinking/

Keep in mind that the collapse of a financial system has historically unfolded to different degrees. If we are talking about a Dark Age, then you are into the Mad Max situation. Then the only thing that has value is food not even gold. That was the fall of Rome. People effectively sold themselves as serfs to work the land, retain 20% of the crop in return for protection behind the castle walls. Medieval coinage really appears only in silver and are rarely found more than 20 to 30 miles from where the coins were struck. This illustrated the isolation of city states. Money was not really necessary for there was really no major trade interacting within Europe hence the Dark Age.
In order for tangible assets like stocks, gold, art, antiquities, etc. to survive, the fundamental infrastructure must survive. That means there must be ample food for gold to have any value whatsoever. So you must stop short of the Mad Max event for anything tangible to have a safe haven value.

Therefore, if we are only talking about a reset of the world financial system, then tangible assets retain value that becomes translated into the new currency. Hence, equities will survive, government debt and currency will not. Only going all the way to a Mad Max event would everything lose value except food. Not even gold survives for trade comes to an end.

The civil unrest we have beginning today post-Trump is intended to overthrow Trump and Obama has remained in Washington, which NO PRESIDENT has ever done. We have Soros licking his lips on the prospect to altering the USA with his vision of Marxism. We have the same trend emerging in France, Britain, and Netherlands and of course Italy, Spain and Greece.
So we have some actors intent upon creating change that would subjugate all of us because they think Marx was correct after all. Their desire is to live vicariously off of other peoples money and they do not accept that anyone should have things they do not. We have students protesting because they think everything should just be free. Hence, this is a battle shaping up for the future; the final conflict over Marxism, which began with the fall of Communism in 1989. This final battle began 26 years from 1989.95.

Quote from: iamnotback on February 16, 2017, 03:43:46 AM

My response is that open source is destroying the need for the nation-state. Open source is a paradigm shift which creates an Inverse Commons which does not suffer the Tragedy of the Commons prisoner's dilemma...

...

So into Stage #5 we go, and cull all this useless dead weight left over from the Industrial Age.

Quote from: iamnotback on February 15, 2017, 09:10:43 AM

The nation-state was necessary for aggregating capital for the Industrial Age, but it has lost is reason to exist. And btw, this is why when Armstrong mentioned the USA would break up, it immediately seemed plausible to me.

Quote from: AnonyMint on May 29, 2014, 10:34:15 AM

Because I have been explaining we are moving from the Industrial (fixed capital) Age to the Knowledge Age where individuals will own their productive capacity and can't be bought with financial capital.

Thus the nation-state concept has peaked. The globalists are consolidating power now to try to fend off the Knowledge Age, but they will fail (although they will succeed to enslave those who don't transition and remain dependent on the one world reserve currency and governments).

...

The individual is rising. Government is dying, and as it last hurrah it will descend into one world government which in fact already exists de facto as the DEEP STATE.

Quote from: AnonyMint on June 01, 2014, 03:50:24 AM

Quote from: Armstrong

Eventually, they will create a new currency, default on the obligations, and we get a reset. This is where tangible assets come in. ALL ASSETS survive such a rest PROVIDED there is no war that results in the destruction of the infrastructure as we saw after World War II.

All tangible assets will be confiscated or end up illiquid. No exceptions. Stored capital is dying. We are leaving the Industrial Age wherein fixed capital was necessary. You are missing the entire trend. You are only looking at the highly VISIBLE symptoms and Bureaucrats and not looking deeper.

Quote from: AnonyMint on May 29, 2014, 11:49:15 AM

These comments make it painfully obvious that Armstrong does not
understand the global trend underway with the transition from the
Industrial (fixed capital) Age to individual ownership of one's productive
capital in the Knowledge Age. For details on that trend, refer to my prior
writings upthread. Specifically knowledge workers today can produce and
distribute their own work individually without relying on the Theory of
the Firm and finance. The 3D printer is yet another example of this trend
underway.

He is framing the issue with the wrong perspective, thus he entirely
misses the point and thus the correct conclusion.

Crypto-currency doesn't need the entire world's confidence and acceptance.
The sovereign Knowledge Age workers are adopting it...

The rest of humanity will descend into enslavement in a one world reserve
currency and a de facto DEEP STATE that runs the dying fixed capital age
and the concept of the nation-state which raison d'etre was the politics
of finance.

See the one world outcome is the death star of collectivism. Again I refer
him to my seminal article on the Rise of Knowledge:

https://bitcointalk.org/index.php?topic=355212.0

Focus on the "Rise of Knowledge" essay and understand why savings must
decay otherwise knowledge doesn't advance.

I expounded on a later blog:

http://unheresy.com/Information%20Is%20Alive.html#Thought_Isn%27t_Fungible

...

Armstrong is stuck in an anarchic idea of government and finance. He is
blinded to the decentralized rise of the sovereign individual in the
Knowledge Age. Thus to his hammer everything looks like a nail. He can
only see everything in terms of government. He can't see the true
revolution going on which government can't do a damn thing to stop.

Let them try to turn off the electricity. Watch how fast the Knowledge Age
workers engineer a solution that bypasses their grid.

Checkmate for the Industrial Age, nation-states, and voting. Those are the
dinosaurs.

When will Armstrong have the epiphany and realize what time it really is?

His model is screaming that I am correct. Yet he is blinded by his old age
and ingrained thought patterns and experience as a hedge fund manager.

Quote from: AnonyMint on May 17, 2014, 03:51:52 AM

Rising taxes is the stage where the nation-states self-destruct, as
planned. To usher in the power vacuum (chaos and misery) that gives rise
to an international discipline and solution circa 2032.