Value on the edge of a cliff — when wealth suddenly vanishes without trace — Part II

What all finance people should know to survive what’s in train since 2008 but never bothered to find out

As we explained in Part I, the above picture shows the what’s left of wealth once it has vanished. Some 2800 years later archaeologists dig them out and ponder. These are bronze axes from the transition from Bronze Age to Iron Age (https://fr.wikipedia.org/wiki/Fichier:1114_Haches_à_douille_Riec-sur-Belon.jpg). The axes from this period, are found in the thousands in the Brittany and Normandy regions of France. They contain large amounts of lead rendering them useless for any practical purpose. Instead, they were hoarded as stores of wealth and prestige, as a form of proto-money. With the breakdown of Bronze Age civilisations and the transition to the Iron Age, their value vanished and the hoards were soon forgotten.

In a fairly near future, a similar fate awaits all current fiat currencies, most crypto currencies, and most existing wealth. Wealth holders, investors, financiers, bankers of all kinds would benefit to ponder.

In Part I, we reviewed the global cacophony of pronouncements about the ever-rising debt in the shadow of the Covid-19 pandemic, how to finance responses to the Climate Emergency and other ecological threats, and the tsunami of…