QUESTION: Marty, is it doable we’re witnessing the best monetary entice to unsuspecting international residents as they ‘construct a digital jail’ as many opine OR is that this the right financial system that can give alternative to impoverished nations to rise out of the ashes?
We see children, millenials to Gen X, shopping for it prefer it’s Thor’s hammer on some Marvel online game but its penalties are actual not like the Marvel online game cash and so forth. This online game is the actual deal. Governments at the moment are shopping for as a lot bitcoin as they’ll and I do know a person who purchased his home with Bitcoin as collateral.
It’s an age outdated saying, “When one thing sounds too good to be true, it often is.” This appears to be pertinent concerning this supposedly excellent financial system, one which has by no means been witnessed earlier than.
Who is definitely in charge of the reality of this now Bitcoin mania and are Bitcoins reborn “Tulips”?
One facet delivers compelling conviction that it’s monetary freedom, the opposite portrays it’s monetary armageddon and there seems to be no center floor within the dialogue of it as a financial system (vs an funding instrument).
I welcome any additional feedback you can also make to enlighten the remainder of us.
Respectfully,
PH
ANSWER: There are those that are touting that Bitcoin will solely rise, simply as Irving Fisher was saying in regards to the inventory market simply earlier than it crashed. Bitcoin is the largest rip-off of authoritarian authorities identified to historical past. Ben Franklin mentioned:
“Our new Structure is now established; all the pieces appears to vow will probably be sturdy; however, on this world, nothing is for certain besides demise and taxes.”
Our illustrious politicians overruled the Founding Fathers, who prohibited Direct Taxation, understanding that it was the trail of tyranny and hatred of the wealthy that pours via each line written by Karl Marx. They carried out the revenue tax with a Constitutional Modification in 1913. Ever since we now have had class warfare. The Democrats search to bribe folks for his or her votes, all the time promising to rob the wealth from one particular person to present it to a different. The courts selectively permit discrimination by class and expertise as a result of that pays their salaries. It’s unlawful to discriminate in opposition to somebody for his or her race, but when they’ve more cash than you, it’s then honest recreation.
A part of the issue has been the uneducated propaganda in opposition to the Federal Reserve printing cash and attributing that to the bankers as if it ought to be within the arms of the politicians. This has distorted the very definition of cash. They then blame the Fed for inflation as an alternative of the politicians who like to say that they’ll spend no matter they need and that it’s the Fed’s job to make it noninflationary.
Cash features because the (1) unit of account and (2) because the accepted medium of trade. It has been the dream of bureaucrats to have the ability to hint each transaction and guarantee they get their pound of flesh each time there’s a transaction. We’re the enemy. Always remember that. Just like the Mafia engaged in a safety racket, bureaucrats are not any completely different. Pay or go to jail.
Cryptocurrency is absurd. Why? We simply had two back-to-back hurricanes right here in Florida. Whereas I personally have an influence generator, the facility grid went down, and the web went down. The shops had no energy and couldn’t even take a bank card. For those who wished something, it was bodily money solely. With no energy, you may not even go to an ATM to get some cash. In Florida, you be taught it is best to all the time have some money available, simply in case.
If even a credit score or debit card doesn’t work with out energy, neither will crypto. The web was down for over 10 days. All these promoting crypto for the federal government solely see their dream of taxation on completely all the pieces – even that 16-year-old lady subsequent door who watches the children so that you and your spouse can go to dinner. You gave her $20? OMG. That’s why the federal government has deficits.
Cash has been all the pieces from seashells and gold to issues of worth equivalent to bronze, grain, and sheep skins. When it comes right down to sturdy cash, it usually has sensible use – utilitarian worth. In jail, it was once a pack of cigarettes, after which it grew to become a pack of mackerel.
Here’s a Roman bronze ingot often called an Aes Signatum (5 lbs) of bronze with the equal picture of 1 head of cattle. I’m sorry, however cash that depends upon the facility grid and will be programmable topic to a financial institution -debanking you, isn’t a sustainable financial base. This might result in an financial recession and a restriction on commerce.
