Preparing For The New Economy

#digitaleconomy #economic #prepping Hi and welcome everyone to the Hobo Prepper. Today I would like to expand on the topic during my last live-stream about the New Economy. I would first like to start out by using history to show how we have been through this before.
In June of 1935 Congress passed HJR 192 or House Joint Resolution 192. This piece of legislation changed the monetary system which would have direct effects on the economy and how money would be created. Until June of ‘35 America operated under the Gold Standard however, due to the population boom, there was not enough Gold and Silver in the world, let alone America, to facilitate commerce. The problem with Gold and Silver is that there is a finite amount of resources that can be dug out of the ground.

Changing the monetary standards from Gold and Silver to Legal Tender would open up the economy to be what it is that we see today. Unfortunately humans do not like change, so we have had a hard time transitioning to this new economic reality. The game Monopoly was created as a way to teach the average American how to use the new money system. The game monopoly was designed and created to teach the average American that money is liquid. Legal Tender was designed to be leveraged against assets to create more money until you reached a point where you could not spend enough money therefore creating a savings. Unfortunately the average American could not wrap their mind around this new idea and has thus unintentionally been destructive to the overall monetary system creating a wealth disparity

Until this change happened Americans lived life on a farm and had minimal need for currency because food and resources were produced locally. The transition from the farm into cities and suburbs was a direct result of the Industrial revolution. The factories needed workers which caused people to move into cities spawning a technological boom to meet the needs of the growing cities. During the 1930’s technology was becoming more convenient for the average person to obtain. This technological boom caused a change in the workforce to sale, maintain and service the new technology being brought to the average Joe. As a cause and effect, this required the average worker to improve and change their skills for the changing workfoce including acquiring further education to be trained in this new technology

As a direct result of emerging technology, with the implementation of a new monetary system, those who were wise enough would be able to take advantage of the new opportunities. From the 1940’s until now the percentage of Americans that have become middle class, upper middle class and wealthy has grown much more than when we were under the Gold Standard because Legal Tender and a technological boom opened up a plethora of opportunities never seen before. The average person would see this change as bad because they either didn’t want to change or failed to see the new opportunities under this new system. As all systems do, they become outdated and need to be re-envisioned to meet the needs of our changing society

Now that we have an understanding of history and how this is part of the natural evolution of an economy, lets talk about the changes and opportunities that we are transitioning into now. Although we all have our opinions of the WEF, Klaus is correct that we are going through a 4th Industrial Revolution. As you have heard me touch on in previous videos like “What is UBI”, lets talk about this more in depth in this video.

Currently we are advancing at a fast pace in Advanced Robotics, Circuitry and Artificial Intelligence. Over the last 10 years we have been able to create technology that has made our life easier to the point the idea of waiting for something to happen seems foreign. Look at the Smart Phone, it used to be that you had to have a lot of money to acquire this technology, now its as common as a TV in every room or every household owning a car. With the Smart Phone alone you are able to put a computer in your pocket and access information on the go, communicate using multiple mediums and produce high quality media such as photos and videos

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