css1971

By Any Definition, a Crash

Sorry. You're making the mistake that there is such a thing as "intrinsic value".

No such thing, there is only the relative value to the currency. If there are 10 trillion units of currency, that 10 trillion represent all of the things you can buy with them. If there are only 10 units of currency, that 10 units represents exactly the same amount of real wealth as the 10 trillion.

Well, with a 30:1 leverage ratio, that 10 trillion could fall to 1/30th of the current value as the debt consumes the credit. Unlikely yes, but there you are.

There's no such thing as "stupid value" when the notion of value is being changed on an hour by hour basis.