Cryptoes are the pure product of our times – and a rebellious outburst against currencies that have been triturated, manipulated and rigged by authorities in perdition.
This is the time of the chains of happiness – historical, rational, necessary products.
Monetary officials led the way in transforming the anchored currency, the « crystallized labour money » into tokens. They grafted a lottery onto these tokens, thanks to an avatar of money: the quasi-money of the stock market.
And with this lottery, they have created a powerful demand that allows them to create more, much more, at will. Thousands of billions – 8,000 to 9,000 billion in just a few months.
Society – which is much smarter than they are – has drawn the conclusions.
There is room for a token that is totally abstract, that leans on nothing, that is totally frivolous… but that has an undeniable advantage over central bank money: its guaranteed limited circulation.
That’s how society brought about the emergence of cryptomoney.
The importance of scarcity
Cryptos are a magnificent creation of intelligence, since they draw all the conclusions from the evolution of central bank money but add a plus: structural rarity.
We are at the apotheosis of marginalism, in the pure modernity introduced by Léon Walras, who tells us that value is only in people’s heads; it is only the value of exchange and desire (an idea very well analysed by the French philosopher Jean-Joseph Goux, a teacher in the United States – and who does an exceptional job, by the way).
The post-modern value finds its apogee with the creation and then the snowballing craze for cryptomoney thanks to the continuous, obligatory monetary creation, fallen from the sky, by the illusionist sorcerer’s apprentices of the central banks.
The creation of money by central banks is now perceived – according to the principle of common knowledge – as obligatory. They can no longer escape it, they are in a spiral: it’s « print or die ».
The cryptos are the statue of Don Juan’s commander, the punishment of the central bankers.
They are the bearers of revolution because they place the sorcerer’s apprentices face to face with their diabolical creature: these zozos have not understood that to play with the devil… you need a long spoon.
Bruno Bertez was head of a press group specialising in economics and finance, and founded the daily newspaper La Tribune in 1985. He writes regularly in the Swiss business daily L’Agefi, as well as on his personal blog, which can be found here: https://brunobertez.com.