>>20233906Of course it will. But if someone holds that on their balance sheet as some form of "wealth" will quickly see what a massive error it is when other stores of credit-based wealth implode. Imagine all of the paper-millionaires accustomed to $50000+ dividend income who suddenly lose 90% of their net worth, along with crippling inflation that errodes their purchasing power. A $200,000 vehicle has no value above and beyond the utility of a car. The luxury premium, when priced in gold and silver in today's money will expose the different between capital and credit. It will be in that juxtaposition that people will understand that much of their wealth is contingent on a counterparty. Real forms of wealth are held for their own sake. Luxury premiums, etc will disappear once trade is settled on a cash basis as no one will be able to afford the luxury premium.
