Politics Magazine

A House of “Special Effects”?

Posted on the 24 May 2016 by Adask

President of the First Fictional Bank of America (a fictional banker for a fictional dollar) [courtesy Google Images]

President of the First Fictional Bank of America
(a fictional banker for a fictional dollar)
[courtesy Google Images]

During that interview predicted that an economic crash was virtually certain to strike before the end of this year.

More, Mr. Weir predicted that the crash would be “electronic” and at least start on computers.  According to Weir,

“All electronic assets will be frozen and wiped away”.

It occurred to me to ask, What’s the difference between an “electronic asset” (like the sum in your bank account that exists only as a series of digital 1’s and 0’s on some hard drive) and the “special effects” seen in a Star Wars movie?

Both “electronic assets” and “special effects” can make you jump and get your heart pounding and thereby seem “real”.

But aren’t “electronic assets” and “special effects” both illusions that have no tangible reality?  Aren’t we being fooled by “electronic assets” in bank accounts in the same way we’re fooled by “special effects” in movies?

Is investing in “electronic assets” the economic equivalent to buying a light saber or a pet Wookiee over the internet?

Can “electronic assets” be properly understood as nothing more than “special effects”?

If so, is our economy and financial system built on “special effects”?

Can our economy be more accurately described as a “house of cards”–or as a “house of special effects”?

Which is more stable?  A house of cards or a banking house of special effects?

How long can a banking house of special effects be expected to last?


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