Iconomy

(composite from the greek words, icon-iconic meaning image-imaginary-virtual and economy)

Iconomy is a state where certain "financial tools" (derivatives/futures-options-cds etc), leveraged credit and uncontrolled increase of money supply, altogether sum up to a matchless value chaotically multiple of the total value of all fixed assets, properties and commodities reserves of the real economy

Credit expansion obtained by financial institutions generating "vitual assets" and investment potential in bureaucratically created financial tools, void of any real or productive value, is a prominent form of Iconomy

3740👍 4👎