Bravo Johnson
@bravojohnson
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My review of “The Man Who Created the Middle East” by Christopher Simon Sykes,
Somewhere in a smoky corner of The Green Dragon Inn, Frodo, Sam, Merry, and Pippin found themselves with the unenviable task of dividing up Mordor. Gandalf had vanished in a puff of “wizardry business,” leaving a note saying: “Take care of this, will you? Back in a fortnight. Don’t forget the furnaces.”
“Well, Mordor’s a right mess,” said Frodo, staring at the ash-streaked map. “Who’d want it anyway?”
“Humans might like it,” Sam offered. “Big, gloomy sorts, aren’t they? They’ll think it’s dramatic.”
“Humans?!” scoffed Merry, snatching the quill. “Mordor’s perfect for Dwarves. All those mines, all that lava. They love that sort of thing!”
“Hang on,” interrupted Pippin, dipping a sausage into gravy. “We Hobbits deserve a slice too! Imagine all the mushrooms we could grow in the ash!”
“Oh, for the love of lembas, let’s just split it up and be done!” Frodo sighed. 2 replies
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“But I can turn this into dollars!” Sure, you can transform Ethereum, Bitcoin, or any other crypto into dollars but what you’re describing isn’t proof of intrinsic value—it’s proof that the collective hallucination still holds, for now.
Crypto has the same problem than fiat ie when everyone rushes for the exit at the same time—see FTX, Luna, or any number of implosions—the illusion shatters, and the hot potato burns a hole in your hand.
Sure, dollars aren’t “real” in the gold-standard sense anymore. But they have inertia. They’re tied to debts, taxes, and transactions across the globe. Crypto doesn’t have that stickiness. It’s speculative, volatile, and unmoored.
Remember, tulips could be traded for gold once, too. When confidence erodes—be it in Ethereum, the dollar, or the billionaire class—it doesn’t matter how many people believed yesterday. 1 reply
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So maybe the real question is: how much of what we call capital is grounded in the material world, and how much is a collective hallucination? And when the hallucination ends, what’s left?
The bicameral mind theorizes that early humans experienced consciousness differently, as though one part of the brain “spoke” to the other in the form of auditory commands, like hearing the voice of a god. It was a system of authority and action without introspection. Now, pair that with the idea of modern capital, and things start to click.
Consider “made-up” capital—cryptocurrencies, inflated stock valuations, speculative VC bets. These are not grounded in tangible goods or production but in belief. They require masses of people to act on faith, responding to the “voice” of market forces or charismatic leaders. It’s almost a reawakening of the bicameral mind, with billionaires, algorithms, and media acting as those commanding voices, directing the collective hallucination. 1 reply
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