“It simply grows until the spell breaks, and confidence/perception collapses.”
At that moment, what happens?
What action takes place in reality?
You are describing the real act of people taking their real value out of fiat dollars and putting them into other monetary objects, with abstract theoretical rhetoric
If done so in mass, the demand for those other monetary objects would skyrocket, and people would be happy to get them at any price.
nothing snaps, no thing breaks.
people are doing what they always do in an economy, create/store/exchange value, just with a different monetary objects
using abstract rhetoric of “breaking the spell” does not negate the reality that there is real value contained in fiat dollars.
this is the danger of approaching the domain of reality from abstract economic theories. inevitably something real and relevant gets abstracted away and we lose our tether to real life
hylomorphic / Neal
npub18z…zlyv6
2026-05-14 16:52:22 UTC
in reply to nevent1q…mfyl
Author Public Key
npub18zsu6xlfpwdgnrfyzhwpq80ssu83tdew5g7dkzkl4tavsrgzl5yslzlyv6Published at
2026-05-14 16:52:22 UTCEvent JSON
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