QUESTION: Marty, is it potential we’re witnessing the best monetary entice to unsuspecting world residents as they ‘construct a digital jail’ as many opine OR is that this the proper financial system that can 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 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 will and I do know a person who purchased his home with Bitcoin as collateral.
It’s an age previous 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 in charge of 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 may make to enlighten the remainder of us.
Respectfully,
PH
ANSWER: That 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 definite besides loss of life and taxes.”
Our illustrious politicians overruled the Founding Fathers, who prohibited Direct Taxation, realizing 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 have now 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 towards somebody for his or her race, but when they’ve more cash than you, it’s then honest sport.
A part of the issue has been the uneducated propaganda towards the Federal Reserve printing cash and attributing that to the bankers as if it must be within the palms 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 will spend no matter they need and that it’s the Fed’s job to make it noninflationary.
Cash capabilities 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 the event you needed something, it was bodily money solely. With no energy, you could possibly not even go to an ATM to get some cash. In Florida, you lean it’s best 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 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 reminiscent of bronze, grain, and sheep skins. When it comes all the way down to sturdy cash, it sometimes has sensible use – utilitarian worth.
Here’s a Roman bronze ingot generally known as an Aes Signatum (5 lbs) of bronze with the equal picture of 1 head of cattle. I’m sorry, however cash that is dependent upon the facility grid and might be programmable topic to a financial institution -debanking you, isn’t a sustainable financial base. This could result in an financial recession and a restriction on commerce.