What are intangible assets really worth?

Its been a very busy time for me with vacation back to back to two business trips so my legacy blog has suffered as a result.  This will last another week before I can really get back to posting here. 

I did see one story that I wanted to comment quickly on.  My position on paper assets has been made clear over and over again throughout the years which is that all of them are just paper claims on something that may or may not be real.  But even if that something is real, the claim is basically worthless until tendered.  This is true regardless of the asset type or who issues it (dollars, stocks, bonds, cereal box tops, green stamps, etc.).  All paper assets and digital assets are an illusion.  When then bottom drops out, Mark and Patsy, who both think very highly of their own "it's different this time" opinions (despite not having done even a fraction of the research and writing that I have done on these matters) will stop rolling their eyes at me and instead wish they had listened.

Before a big earthquake we often get smaller quakes. In the fake money realm there was recently an incident where the 2nd largest cryptocurrency, Etherium, plummeted from over $300 down to less than $1 in single day before recovering just as quickly.  Even more recently we are seeing that two of the largest Bitcoin exchanges crashed at the same time causing difficulty for people trying to sell.  These are all signs of a very unstable public which doesn't know what is up and what is down.  Its got to be some kind of mass brainwashing but I'm telling you right now it will end badly.

If you have a paper claim on something, you have in fact nothing until that claim is redeemed and you receive the physical item that the claim entitles you to.  Your accounting entry means nothing in a crisis.

There is in fact nothing new under the sun except the history you don't know.