The value of all of these “currencies” is by Fiat— not the cars, the Latin term=== for “let it be so” as a declaration of those in power (the motto somewhere of “Fiat Lux” Let there be light.)
For all anyone can fathom— it appears the digital currency is backed by petroleum (and all the economy that devolves from it’s production). Of course the oldest backing is gold and silver in history— being in “just enough supply”. Platinum is worth more but not as extant.
To me the use of bitcoin is parallel to the mortgage backed securities mathematical algorithm the banks developed to counter the loans to to “poor’ that was forced on them by the lib fedgov.... “free” money... isn’t and wasn’t. The securities were really worthless- because the loans were never able to be paid at any interest.
Margin Call— a movie that still terrifies. And, btw, they are still loaning and doing this... right now. The bank of resort is no longer ANY private bank— it is fedgov agencies Fannie mae and Freddy mac. Total Ponzi.
Completely agree with everything you posted, even the reference to Margin call.
And this sort of thing never ends well. We are in for VERY hard times thanks to the lockdown. I’ve said, even before the lockdown, that this sort of thing usually ends in war.
The lockdown just put a punctuation mark on it. The rioting is happening in Europe. It will happen here as the weather improves, and the impact of the election of Biden and the control of the house and senate start showing their teeth. Even the left is outraged, and might end up being even MORE outraged.
But it has to get REALLY bad before the right actually bring out the guns. Sadly, I think it WILL get that bad.