QUESTION: Marty, is it potential 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 proper financial system that may give alternative to impoverished nations to rise out of the ashes?
We see youngsters, millenials to Gen X, shopping for it prefer it’s Thor’s hammer on some Marvel online game but its penalties are actual in contrast to 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It’s an age outdated saying, “When one thing sounds too good to be true, it normally is.” This appears to be pertinent concerning this supposedly good financial system, one which has by no means been witnessed earlier than.
Who is definitely answerable for the reality of this now Bitcoin mania and are Bitcoins reborn “Tulips”?
One aspect 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: That is the most important rip-off of authoritarian authorities recognized to historical past. Ben Franklin stated:
“Our new Structure is now established; every thing appears to vow it will likely be sturdy; however, on this world, nothing is definite besides loss of life and taxes.”
Our illustrious politicians overruled the Founding Fathers, who prohibited Direct Taxation, understanding that it was the trail to following the hatred of the wealthy that pours via each line written by Karl Marx. They carried out the earnings tax with a Constitutional Modification in 1913. Ever since we’ve had class warfare. The Democrats search to bribe folks for his or her votes, at all times promising to rob the wealth from one individual to present it to a different. The courts selectively enable 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 extra money 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 must be within the fingers of the politicians. This has distorted the very definition of cash. They then blame the Fed for inflation as a substitute 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 change. 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. In case you wished something, it was bodily money solely. With no energy, you might not even go to an ATM to get some cash. In Florida, you lean you need to at all times have some money readily 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 or taxation on completely every thing – even that 16-year-old woman subsequent door who watches the youngsters 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 every thing from seashells and gold to issues of worth comparable to bronze, grain, and sheep skins. When it comes all the way down to sturdy cash, it usually has sensible use – utilitarian worth.
Here’s a Roman bronze ingot often known as an Aes Signatum (5 lbs) of bronze with the equal picture of 1 head of cattle. I’m sorry, however cash that will depend on the facility grid and may be programmable topic to a financial institution -debanking you, just isn’t a sustainable financial base. This is able to result in an financial recession and a restriction on commerce.
