In the Future, I cannot Tell You What Will Be An Asset, but, I Can Tell You What Will Not Be
The future is so different from what we consider normal today, that it is quite difficult to discuss. Not only do we not have words for the things that are coming, we have concepts today that keep us from thinking about a different way.
Lets say that i said, "I hate Capitalism", what is your thoughts? He must be a Socialist/Communist. Or, if you have read your Mises, you might think, he is an Anarchist. But, what if i didn't believe in any of these. That i knew none of them worked. That i knew of ways that things would work in the future, that were none of these things. Then, how do i discuss that?
Well, what i usually do is say what is bad about our current system, and then try to talk around the areas where solutions might be found.
It's like, how do you discuss bitcoin to people before the computer and the internet?
And now that we have bitcoin, how do you discuss the thing that will replace bitcoin. We haven't even gotten to bitcoin adoption yet, and you are already talking about its replacement??!!
Well, yes, because bitcoin has only solved one or two of the problems with money, and there are a dozen more.
However, today, i will try to discuss assets in the future. And the concept of assets, the way people will view assets, in the future.
Everything Evil Will Be Gone
The debt based, fractional reserve lent, fiat money system, and all the parts that makes it work are evil. And every part will die a horrible death.
Paper dollars will last the longest, but that is only by a few years. But i will tell you, there will be a time in the future where CASH IS KING. It will be a time when you can't really get your "money" out of the bank, and all kinds of financial crisis and crashes are happening. So, have some paper dollars stored under the mattress. It may save your life.
It will start in the bond market. Where too many will want to sell their bonds, and there won't be enough liquidity or buyers. And so, the bond market collapses. Even the Fed buying won't work fast enough. And then, all those dollars, will flood into places where it normally doesn't go, causing huge inflation, and oh what a mess.
Basically, in a matter of days (a week) it will go around the world and basically cause all the banks to shutter their doors. It will be a run on the banking system.
The thing we base our wealth upon, or measure our wealth in, is about to self-destruct. And it is self-destructing because it is evil
Stocks and Real Estate - You Don't Hold it, You Don't Own It.
But aren't these real, physical things?
Not really. Each of these is a piece of paper that claims you have ownership of something.
And from there, it all falls apart.
With the stock, you probably have it held with your broker, who doesn't really have it, they have it with a bigger broker, and they don't have it either. It is held by Cede and Company. So, what you have is a promise, on a promise, on a promise to get you a stock at a certain price. And the brokerage keeps all of these as a large pool, which may or may not be enough to cover all the "owners" at any given time. And many of these stocks are pledged for futures trading. So, they are owned twice, at least.
In other words, you don't own any stock if you have it held with your brokerage.
Many people say that the love investing in property, because it is physical. But is it?
We all know that you are just renting the property from the govern-cement. Because if you do not pay your property taxes, the govern-cement will take your property to pay the taxes.
What most do not know is that if you had, or ever had a mortgage, that the bank still retains rights to that piece of property. In other words, you think you own it, but you really do not. And the bank is just waiting to take their property back, when it is convenient for them.
And, just imagine that you have a house, with a mortgage on it. And the banking collapse happens. And you cannot get any money out of the bank to pay your mortgage. Even if it is the bank that has your money, that you owe the mortgage payment to. You are now in default of your mortgage. And the bank can enter foreclosure.
Yes, they caused the problem, and there is nothing you can do about it, but you are still in trouble.
You don't own the property, and you don't own the property, and there are people just waiting for you to mess up to make money off your slip.
If you have a house, with a mortgage, and you intend to stay there, then with your crypto gains this bull, pay off your house, and make sure you get the title free and clear. A lot of shenanigans are coming.
And if you own stock, have it transferred to your physical possession and have it registered with the corporation. Else, you really do not own it.
In the Future, None of This Matters
Most of the stuff that we consider an asset, especially a financial asset, will cease to exist. And i mean, the structure that we call "ownership" itself, will be gone.
Can you own the air? Some who believe in absolute Capitalism believe there are times when you can declare ownership of the air. If it is your air, can you deny someone from breathing?
That answer is not just "no, you can't" it is "hell no, you can't and you should have never tried".
And then, what we try to extend this kind of thinking too food, and we get some really strange (to us) ideas of ownership.
Basically, it become prudent to have extra food. But, it is also becomes incumbent on each person to work decently to grow their own food. And, sponging off of someone, is akin to attempted murder. But so is denying someone food.
This gets worked out, and the system is far better than what we have now, however, it will really seem strange to any modern economist. Even if they have read Mises.
Now, apply this to other assets, and you see that everything we call a monetary asset just falls apart under these new laws. And they should because they have been used to enslave humanity for a hundred years.
In the future, stocks, bonds, mortgages, insurance and other financial assets just cease to exist. And there will be a time when these are moved to the blockchain, eliminating the banksters, but that time will be only about a generation, before they are given up completely.
In the future, ownership will be different. And people won't be striving to get ahead, it will be more of a making the world a better place to live, for all. And this will not be from some utopian vision, it will be from a better way of making sure everyone has their needs met.
So, do not try to hold onto your financial assets. Transition them to better assets as you see the future coming about. The 401k, the IRA, retirement accounts are about to disappear. However, having any bitcoin, and you will be set in the future. Let the past go.