Upon seeing all the construction in NYC I wondered where all the money came from or what the limits of it were – I was reminded of something my friend Jared Freedman said to me a while back about Virtual Worlds and Money. I actually came to believe that money is now almost entirely “virtual” in that far more money exists on paper than is in any bank, or anywhere else.
And now, based on this video on A Look At Wall Street’s Shadow Market I realize that I was not far off from the truth.
In fact, without going into explainations, it occured to me why our goverment let this happen – they needed the money – to continue to expand the economy as we cut more and more taxes and waged two wars.
De-regulation is just a means to an end.