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it's quite sickening to witness how many people have zero savings. In Aus, we're a week into what is not even a full lockdown (offices still operated, many construction sites wrapping up, but still active), and we already have street protests in Sydney of people saying the government needs to give everyone a rent / mortgage freeze. The intensity of these protests will no doubt grow over the next 6 months.
If we do get economy-wide freeze, I guarantee that those that have saved for a rainy day will not come out better off, and those that continue to operate at profit will be punished.
I don't know how a million dollars a second in credit and liquidity doesn't end in hyperinflation and a jump to a new monetary system as the old system is flown into the side of a mountain.
The new monetary system will not be built from a position of strength for the everyman. No, we will be desperate as our savings buy less and less, we're all jobless, and we stay the fuck away from financial markets and any speculation.
We will demand UBI be introduced, and then will we have the strength left as a population to fight for fair terms for that UBI. I feel we'll sign up for that welfare no matter the sacrifice in privacy or freedom.
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