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Comment by H8crilA | Hacker News Reader

I'd say about the same as what the inverted yield curves say (i.e. the rally on long term, high quality bonds). That the market expects growth to tighten:

The Economist | Curveball https://www.economist.com/node/21767839

Gold is not "the only real money", though. There is no such thing as "real money":

> Law thought that the important thing about money wasn’t its inherent value; he didn’t believe it had any. “Money is not the value for which goods are exchanged, but the value by which they are exchanged,” he wrote.

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Even beyond that, there's an argument to be made that money (and debt) are at their core quantified and malleable representations of social relations.

Isn't that stretching "social"? The money I hold is not tied to the yet unknown individual or group with with whom I will exchange it for goods or services, the person might not even be born yet.

Well try to imagine there are no people around in 5 years, only you. Or that your country becomes North Korea. Or that the "yet unborn" generation, for some mysterious reason, completely rejects money. What good is your money.

I'm willing to bet a US dollar that at least some of the money you hold is tied to some national group, a government.

The money one holds always has ties to the people surrounding its owner, no matter if those people are known, unknown, born or unborn (I honestly didn't understand the thing about the unborn people, as we as a society do lots of societal stuff for the people not yet born), and in that regards money is indeed one of the most social/societal things ever. As a matter of fact sociology itself as a science was partly born as a result of Georg Simmel's book called "The Philosophy of Money" [1], published more than 100 years ago.

> Probably considered Simmel's greatest work, Simmel saw money as a structuring agent that helps us understand the totality of life.

[1] https://en.wikipedia.org/wiki/The_Philosophy_of_Money

The reason the unknown individual or group will choose to accept it is very much tied to their social and legal relations with other people.

> representations of social relations

What Nick Szabo would call reciprocity, or the delay thereof.

https://nakamotoinstitute.org/shelling-out/

> I'd say about the same as what the inverted yield curves say (i.e. the rally on long term, high quality bonds). That the market expects growth to tighten

You know what they say: Inverted yield curves have predicted 10 of the last 7 recessions.

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