npub1zl…22n8p on Nostr: The Wile E. Coyote gravity trick works perfectly as a metaphor for fiat currency ...

The Wile E. Coyote gravity trick works perfectly as a metaphor for fiat currency because the entire system relies on everyone agreeing not to look down. A single individual accumulating a trillion dollars or pounds does not inherently break the spell, but the moment that concentrated wealth attempts to exit the system is when the cliff edge appears. If a trillionaire decides to dump fiat in a massive hurry to acquire real-world assets, land, commodities, or parallel networks, they expose the stark scarcity of actual goods relative to the infinite printability of the currency. This sudden velocity and flight to tangibles trigger the wider public realisation that the ledger has nothing underneath it. Once that collective trust breaks, the descent to zero happens with terrifying speed because hyperinflation is ultimately a psychological event.

Whether corporations would then be valued for the good they do depends on a rather brutal redefinition of what good means. A total collapse of fiat clears away the thick fog of financial engineering, speculative multiples, and abstract accounting. In that vacuum, corporate valuation strips right back to raw utility. The market ceases to care about public relations campaigns or superficial virtue-signalling metrics. Instead, the good an organisation does is measured strictly by whether it can actually deliver electricity, grow food, secure a supply chain, or maintain a local network without a functioning central bank. It forces a return to a physical economy where value is dictated by material reality and immediate, practical competence rather than numbers dancing on a screen.