Op-Ed: Cryptocurrencies Matter: Government Money Won’t Create Value

Fiat currency is not your friend. Today’s money is controlled by governments and central banks. It is used to hurt the average human being. A large number of people on the planet are poor. How do we define “poor” as a person living on less than $3.20 a day.

Is it the governments fault?

A type of. But here’s the thing: fiat currency is inherently inflationary from a practical standpoint. It is not possible for unsecured currency to maintain its value when created in ever-increasing quantities.

Fiat money loses value because it is debt – and governments continue to spend more than they have. Add the impact of fractional reserve banking to this equation, and it’s easy to see why that fat $3.20 a day isn’t worth as much as it once was.

But wait: it gets much worse!

Not only does fiat money deprive the poor of their little purchasing power, it also empowers governments and the rich. Don’t worry: this article is not socialist nonsense leading to a North Korean economy.

Indeed, we believe the only way forward from here is to adopt total laissez-faire monetary systems globally.

Central planners be curbed!

Sorry Boomer – Central banking means central planning

We are not here to teach you history. It’s boring to most people. In the cryptocurrency game, people come to profit. Small problem: Cryptocurrency profits are measured in fiat currency.

Central banks are not an agnostic force in the world of money. Banks like the US Federal Reserve have a product – and that product is money (the US dollar). By issuing one of the most important currencies in the world, the Fed has incredible power.

Also, for those of you who didn’t know, the fucking FED is a private, for-profit entity. The owners of this entity are a secret. And, just for fun, the Fed is at the center of the Western financial system.

Books have been written about this situation and they are worth reading. That said, the bottom line for the purposes of this article is that the Fed and all other major central banks allow global central planning.

Setting interest rates is a crude tool for central planning, but the active bailouts that occurred in the wake of 2008 are far more insidious. While the poor idiots who bought homes they could never afford at higher interest rates were evicted – penniless – the banks in the financial centers got away with multi-billion bailouts.

Money should not be a product

Yuval Noah Harari trusts the “system” in an unhealthy way. You can see his opinions on Bitcoin, which probably extends to all cryptocurrencies, here.

If you’re more of a reader who burns the YouTube effigy when he can, Harari doesn’t like Bitcoin because it means bankers are limited when it comes to creating money for governments. He also hangs out with Klaus Schwab at WEF, which would be a lot less creepy if it was all cosplay.

Strange personal choices aside, Harari actually wants governments to devalue money, make the poor even poorer, and allow the military-industrial complex to spread war. We’re not just talking about the US military-industrial complex: fiat currency allows every government to support the arms trade and the mass death it creates.

If we used a sound currency, Harari would have to trust it, not governments and central banks.

The shadowy groups that effectively own the central banks have every incentive to protect their monopoly on money, so don’t expect positive changes from within the system. In fact, you can expect the situation to get even more extreme – and it’s all about the lust for power.

Let’s go back to North Korea

The modern Western mentality does not understand the dangers of true authoritarianism. North Korea is a great place to look if you want to understand how much worse things can get when humans allow concentrated power to metastasize into vital social systems, and how many people die as a result.

Of course, none of this is new. The same thing happened in the USSR when a lovable scoundrel named Trofim Lysenko was put in charge of agriculture. So many people starved to death. And not only in the USSR!

Lysenko’s ideas were embraced by Chairman Mao in China at the time, and tens of millions more died. The scientist thought he could train plants to jump high enough to dunk in the NBA, but everything fell apart when Stalin told him that professional basketball was a tool of the bourgeoisie.

Just kidding about the basketball part.

What actually happened was much worse. Lysenko’s abysmal ideas destroyed the ability of both the USSR and China to grow food at previous levels, and a mass famine ensued. To make matters worse, he had anyone who opposed him killed or sent to the gulag, so his power and dangerous policies remained unquestioned until Stalin’s death.

In other words, Lysenko was a sociopath who became authoritarian and his ideas killed an incredible amount of people (the total is probably in the hundreds of millions).

Now, the same authoritarian tendencies are consolidating power in the Western fiat currency structure, which will likely cause problems for the average human being. There was also a lot of cannibalism in China due to Lysenko’s ideas, which may have reduced the number of victims.

You can’t count what you can’t see!

An anchor for one, a collar for the other?

Gold is hated by modern central bankers. When the world used gold as the basis for value for money, there was a limit to the amount of money that could be created. In a sense, gold has acted as a collar on central bankers’ ability to create money out of thin air.

Power-hungry sociopaths hate limitations, so it was great for modern technocrats when the post-World War II gold standard collapsed due to wild spending by the United States in wars in Southeast Asia.

For everyone except bankers and rich warmongers, gold served as an anchor. He held bankers to account and made sure that fractional reserve banking couldn’t go too far in multiplying money. Despite central banks’ massive purchases of gold, they will not restore the gold standard anytime soon.

If we want a solid currency, we must choose assets like Bitcoin. It’s not enough to own cryptocurrencies: we have to use them.

Fiat money maintains its power because it is used every day by billions of people around the world. In most cases, cryptocurrencies can replace fiat currency. If the masses understood that they were empowering the worst parts of the human psyche, real change would be possible.

In fact, with the level of development that cryptocurrencies currently have, the fiat currency system could be replaced in a week or two. All it takes is for people to wake up and start using honest digital money.

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