1) There are many theories! I read that Germans created artificial oil during WW2 using the Fischer–Tropsch process. The author suggested that this process is what happens in the crust of the earth, so that oil is not a fossil fuel, but something the earth continuously produces. If he's right, Peak Oil would not mean the beginning of the end of oil, but merely flattening out at a sustainable level.
2) Wow, yeah, those financial assumptions lead to a complex abstraction. Yet it is still a human construct, and in the end nobody will accept an unacceptable outcome. So if one of the assumptions fail, and there are not enough buyers for stock, the government would step in to keep the economy working.
3) Money is a claim on future goods. How can crypto provide that? It all seems so unreal. I don't think society will feel bound to respect crypto like it respects the dollar or the yuan.
Thanks for your reply, and looking forward to your next blog!
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1) There are many theories! I read that Germans created artificial oil during WW2 using the Fischer–Tropsch process. The author suggested that this process is what happens in the crust of the earth, so that oil is not a fossil fuel, but something the earth continuously produces. If he's right, Peak Oil would not mean the beginning of the end of oil, but merely flattening out at a sustainable level.
2) Wow, yeah, those financial assumptions lead to a complex abstraction. Yet it is still a human construct, and in the end nobody will accept an unacceptable outcome. So if one of the assumptions fail, and there are not enough buyers for stock, the government would step in to keep the economy working.
3) Money is a claim on future goods. How can crypto provide that? It all seems so unreal. I don't think society will feel bound to respect crypto like it respects the dollar or the yuan.
Thanks for your reply, and looking forward to your next blog!