Suffice it to say, today's headline news is "Bitcoin dives after Kazakhstan kills internet". So apparently 'Peak Oil' is the precursor to civil war and the breakup of the fabric of society everywhere since the rise in fuel prices is what sparked the protests that turned deadly in Kazakhstan. Sure, CIA might have had a role in that to disrupt China's BRI/RCEP but they can't start a color revolution in a pure vacuum, there had to have been already fertile grounds.
BIG PICTURE: since the first Planck era moment of the Big Bang, the arrow-of-time marching incessantly forwards means constant and eternal increases in Entropy, from low entropy state to higher entropy. (Cosmic inflation, not to be confused with the monetary sort) "Life" as we know it to be, (at least carbon based biological life that replicates on DNA) is merely a temporary localized low-entropy region/state at the expense of expelling more (higher) entropy elsewhere into the external system. Think of it as a refrigerator on a hot summers day, a small local region of cool temperatures at the expense of it expelling even more hot heat waste into the rest of the already warm outside environment.
They say nature abhors a vacuum, and so perhaps the optimization of maximization of equilibriumization of energy gradients (low to high entropy temporary transition process) is what gave rise to the evolution of life, and later to that of the evolution of intelligent life (including us homo sapiens species) eventually leading to revolutions of industrialization, age of fossil fuels, and the advent of computerized technologies to help assist in the more expedient exploitation and consumption of said aforementioned resources.
Energy underpins everything, it is energy and resources that power and run society and civilizations. Money, in all its forms,(be it Dollars, Yuan, gold, bitcoin, NFTs, stocks, real estate, bs artwork, commodities, etc) are merely nothing more than human social construct of abstract proxy tokens meant to symbolize and account for and help make sense of these energy flows and resource deposits/allocations.
It is human nature to go after the low-hanging fruit first. When the first barrel of oil was pumped out of the ground it took the energy equivalent of that one barrel of oil to pump, extract, and process and make useable an additional 100 barrels of the same oil, thereby yielding a EROEI (Energy Returned on Energy Invested) ratio of 100. In recent times the global EROEI of oil has dipped below 10; and it is still rapidly falling... Imagine an oil-tanker semi-truck that had to drive further and further each time it made a delivery of fuel (analogous to having to drill deeper and deeper for more sulfuric and lower energy quality/density hydrocarbons) and thereby burning more and more fuel in order to make each subsequent fuel delivery run in the first place, he is doing more and more work (driving longer hours) but delivering less and less net usable energy (even though nominally he brings back a full tank each time) and thus he is living in a society with ever falling productivity/ and less real wealth (purchasing power) even as he is working harder than ever before. I think many if not most people can personally relate to this, however very few people realize the root cause of the issue is actually a net decline in EROEI.
Net-usable-energy available for global society is falling sharply because the EROEI threshold keeps diminishing and is itself already falling off a cliff. Massive money printing is a mere futile attempt meant to 'mask' (pun intended) and cover up for this issue but it is akin to putting on a Band-Aid on one of the holes of the hull of a sinking ship when all is does is makes the water flow in faster from the other countless holes and gaps. Money is an abstract proxy for the ability of energy to do "work" in the future. Increasing the money supply while actual resources are all being depleted and whilst EROEI keeps diminishing means modern money is now almost entirely decoupled from what it was meant to represent. There is too much pumped up paper/abstract money out there and not enough real resources, net usable energy, nor the supply chains to effectuate and make good on it. It is all but a mathematical certainty that for the vast majority of people today that nest egg they saved up is not going to be there for them for the very simple fact that the global useable energy is gone... as the raw purchasing power of money was always almost entirely inflated by the availability of cheap and abundantly high-quality energy (and the “work/productivity multiplier effect” derived thereof) and the assumption that it would always be the case of remaining exercisable and actualizable into perpetuity...
The "work and productivity multiplier effect" of energy (the vast majority of which is primary energy of fossil fuels in all its forms) afforded to us by the inheritance bestowed upon mankind (billions of years of solar energy captured in the form of plant/phytoplankton/zooplankton/algae photosynthesis and converted into rapid-release capacitors of hydrocarbon based coal, oil and natural gas etc which we have consumed to near depletion in less than 150 years which is the mere blink of an eye) is diminishing commensurate to the global net decline in EROEI of said primary energy sources. This is why governments have to print more and more money while the living standards of their citizens continue to fall off a cliff. The United States, being the current global hegemony with its dollars still as global reserve currency, is no exception to this nor is it immune to the Energy Trap. In the last couple years alone it has printed more than 50% of all the dollars that has ever existed cumulatively in the entire 245 year history of the United States Empire. Yet the real living standards of the vast majority of Americans have continued to nosedive faster than ever before.
Money (or rather its real purchasing power) is really just a measure of the work/productivity multiplier-effect of energy (net usable primary energy), so therefore printing more money to try and account or make up for the decline of availability of remaining energy resources (and also the diminishing EROEI of these primary energy sources) is akin to opening the refrigerator door inside your home to try to cool down the house room temperature after your central AC failed. Locally your face might feel cooler but globally you are just making the entire house even hotter than before. Simply put, energy is what gives modern money most if not all of its real value, so printing more money to try to cover up for the decline in energy is really just locally masking up the issue while globally having zero effect or perhaps making it even worse. Alas, there are no thermodynamic free lunch nor free energy perpetual machines in the real world. This is nothing more than kicking the can down the road while making the eventual day of reckoning that much more worse. It has collectively allowed society to continue on business as usual until one day we find it’s too late to even attempt an energy transition in earnest and are already well inside the "Energy Trap" looking out, much akin to the fate of the inhabitants of Easter island. It is very probable that we have already crossed that point of inflection.
BIG PICTURE: since the first Planck era moment of the Big Bang, the arrow-of-time marching incessantly forwards means constant and eternal increases in Entropy, from low entropy state to higher entropy. (Cosmic inflation, not to be confused with the monetary sort) "Life" as we know it to be, (at least carbon based biological life that replicates on DNA) is merely a temporary localized low-entropy region/state at the expense of expelling more (higher) entropy elsewhere into the external system. Think of it as a refrigerator on a hot summers day, a small local region of cool temperatures at the expense of it expelling even more hot heat waste into the rest of the already warm outside environment.
They say nature abhors a vacuum, and so perhaps the optimization of maximization of equilibriumization of energy gradients (low to high entropy temporary transition process) is what gave rise to the evolution of life, and later to that of the evolution of intelligent life (including us homo sapiens species) eventually leading to revolutions of industrialization, age of fossil fuels, and the advent of computerized technologies to help assist in the more expedient exploitation and consumption of said aforementioned resources.
Energy underpins everything, it is energy and resources that power and run society and civilizations. Money, in all its forms,(be it Dollars, Yuan, gold, bitcoin, NFTs, stocks, real estate, bs artwork, commodities, etc) are merely nothing more than human social construct of abstract proxy tokens meant to symbolize and account for and help make sense of these energy flows and resource deposits/allocations.
It is human nature to go after the low-hanging fruit first. When the first barrel of oil was pumped out of the ground it took the energy equivalent of that one barrel of oil to pump, extract, and process and make useable an additional 100 barrels of the same oil, thereby yielding a EROEI (Energy Returned on Energy Invested) ratio of 100. In recent times the global EROEI of oil has dipped below 10; and it is still rapidly falling... Imagine an oil-tanker semi-truck that had to drive further and further each time it made a delivery of fuel (analogous to having to drill deeper and deeper for more sulfuric and lower energy quality/density hydrocarbons) and thereby burning more and more fuel in order to make each subsequent fuel delivery run in the first place, he is doing more and more work (driving longer hours) but delivering less and less net usable energy (even though nominally he brings back a full tank each time) and thus he is living in a society with ever falling productivity/ and less real wealth (purchasing power) even as he is working harder than ever before. I think many if not most people can personally relate to this, however very few people realize the root cause of the issue is actually a net decline in EROEI.
Net-usable-energy available for global society is falling sharply because the EROEI threshold keeps diminishing and is itself already falling off a cliff. Massive money printing is a mere futile attempt meant to 'mask' (pun intended) and cover up for this issue but it is akin to putting on a Band-Aid on one of the holes of the hull of a sinking ship when all is does is makes the water flow in faster from the other countless holes and gaps. Money is an abstract proxy for the ability of energy to do "work" in the future. Increasing the money supply while actual resources are all being depleted and whilst EROEI keeps diminishing means modern money is now almost entirely decoupled from what it was meant to represent. There is too much pumped up paper/abstract money out there and not enough real resources, net usable energy, nor the supply chains to effectuate and make good on it. It is all but a mathematical certainty that for the vast majority of people today that nest egg they saved up is not going to be there for them for the very simple fact that the global useable energy is gone... as the raw purchasing power of money was always almost entirely inflated by the availability of cheap and abundantly high-quality energy (and the “work/productivity multiplier effect” derived thereof) and the assumption that it would always be the case of remaining exercisable and actualizable into perpetuity...
The "work and productivity multiplier effect" of energy (the vast majority of which is primary energy of fossil fuels in all its forms) afforded to us by the inheritance bestowed upon mankind (billions of years of solar energy captured in the form of plant/phytoplankton/zooplankton/algae photosynthesis and converted into rapid-release capacitors of hydrocarbon based coal, oil and natural gas etc which we have consumed to near depletion in less than 150 years which is the mere blink of an eye) is diminishing commensurate to the global net decline in EROEI of said primary energy sources. This is why governments have to print more and more money while the living standards of their citizens continue to fall off a cliff. The United States, being the current global hegemony with its dollars still as global reserve currency, is no exception to this nor is it immune to the Energy Trap. In the last couple years alone it has printed more than 50% of all the dollars that has ever existed cumulatively in the entire 245 year history of the United States Empire. Yet the real living standards of the vast majority of Americans have continued to nosedive faster than ever before.
Money (or rather its real purchasing power) is really just a measure of the work/productivity multiplier-effect of energy (net usable primary energy), so therefore printing more money to try and account or make up for the decline of availability of remaining energy resources (and also the diminishing EROEI of these primary energy sources) is akin to opening the refrigerator door inside your home to try to cool down the house room temperature after your central AC failed. Locally your face might feel cooler but globally you are just making the entire house even hotter than before. Simply put, energy is what gives modern money most if not all of its real value, so printing more money to try to cover up for the decline in energy is really just locally masking up the issue while globally having zero effect or perhaps making it even worse. Alas, there are no thermodynamic free lunch nor free energy perpetual machines in the real world. This is nothing more than kicking the can down the road while making the eventual day of reckoning that much more worse. It has collectively allowed society to continue on business as usual until one day we find it’s too late to even attempt an energy transition in earnest and are already well inside the "Energy Trap" looking out, much akin to the fate of the inhabitants of Easter island. It is very probable that we have already crossed that point of inflection.