Yaron folk treated it as free money until it was announced it wasn't for free. By that time the markets had already been flooded by new traders trading with money they received for free via the Robinhood app. They bought shares in bankrupt companies, presumably not caring whether they lost their money or not, because the money was received for free, they had nothing to lose. The companies they bought shares in included cruise shippping and car hire companies. I take this to be because they saw the products of those were under threat, and they didn't want to lose the products. Hertz was one of the companies rescued. By rights, Hertz should now be public property, but they managed to dodge with some fancy lawyers as always, keeping the company private after being bailed out by what was public money.
Warren Buffet led the traditional traders out, we should recognise they went on strike, in protest, knowing they couldn't dominate with the massive influx of new traders. He complained at the time "Something has gone wrong with money", and with his exit along with the other traditional traders, sales of oil stopped. None of the new traders were buying oil, and the price of oil went negative for the first and only time in history so far.
That was a miracle actually. Nobody could have predicted it was going to happen in advance. Did you not need a double take to get your head round negative oil prices? I know I did, probably five or more takes over a few days before I could process it.
The law was changed in the US to allow trading in bankrupt stocks to continue, given that was the only trading still going on.
The issued money went up in value throughout all of this, confounding conventional economists, who predicted it would tank. They were wrong because they compared the situation to be similar to what happened in the Weimar, when money was issued for free there, it tanked.
But economists are not engineers. This is what I mean by commodification of education being a kind of handicapping blindfold, it produces folk who can sort out problems in their own disciplines but they literally don't know what they don't know, concerning other disciplines, so they can't deal with multidisciplinary systemic problems.
Whereas, systems Engineers have techniques that cut across all disciplines to trace systemic effects.
Again when we convert it all to energy, we see physical economic product is being, created from solar and has been for a number of years. It might not seem like much but when we do the sums, given population and utilities enetgy usage data, its in the hundreds of billions, even trillions in larger countries since around 2005.
In Weimar there was no creation of product, no solar energy wildcard in the background, that the money issued might monetise, the money issued in that case was backed by no creation of economic product. Hence why it tanked.
But in the case of covid stimulus there was the backlog of physical economic product created, which backed the money issued, hence why it went up in value, at least as long as the amount of money was in the same ballpark as the value of historical economic product created from solar, which had never previously been monetised.
I've had folk argue with me about this, and it's interesting mainstream never dug into it, it was a kind of miracle swept under the carpet.
And look, the issuer of the stimulus was Trump, and look, is he not now being canceled?
Another incredible coincidence to me is that somebody else in history argued free energy had to mean free money. It was Nikola Tesla. And look, which state employee inherited Tesla's life work documents, Trump's Uncle, no less. And was Trump himself not in trouble at one point for his handling of secret documents?
Those last things about Trump and Tesla are just conjecture on my part, though Trumps uncle involvement is documented history. But the rest is from memory.
On diagrams, they already exist in other stories but again I am on Android right now so can't link, but will provide links later to the relevant stories.