The Bitcoindollar Book quotes
The libertarian dream of “separating government and money” has been thus far, at least in the modern era, a utopia for three main reasons. First, because no government with a large enough geopolitical-geostrategic footprint will ever relinquish its relative exorbitant privilege. This applies both to other nations and to their own citizens, since fiat money is by definition coercive on the citizens of a state as it is enforced as legal tender by the rule of law, backed up by the state’s monopoly on the use of military/police force. Second, because, regardless of the local government in charge, who is really in charge of the money is the global banking cartel and the banking dynasties referred to in Part I.
The quote attributed to the founder of the Rothschild Jewish banking dynasty, “Let me issue and control a nation’s money and I care not who writes the laws,” clearly summarizes the importance of money and the power vested with it as well as the will to never voluntarily forgo this “exorbitant privilege.” Third, because up to now there had been no technologically advanced money tool available for that purpose.
Until #Bitcoin arrived, the available choice was between a hard/sound money standard somehow based on gold and a purely fiat one. Austrian economists have been advocating the return to a sound/hard money standard, but they are stuck with an obsolete solution for the digital age. Gold is good money, and it will still retain its store of value properties in the foreseeable future, but its use as a currency stopped well over a century ago because of technological obsolescence. Gold could not move at the speed required by modern commerce. Just like its use as a currency was fostered by the technological innovation of coinage, then it became obsolete when the Industrial Revolution increased the speed of commerce and gold could not keep up with it.
Bankers have effectively arbitraged that need and replaced physical gold with banknotes first and non redeemable fiat currency later.
Bitcoindollar The Dawn of American Hegemony in the Digital Era, p. 130-131 order now here
https://www.amazon.com/dp/B0F24TPNGP/
#bitcoin #bitcoindollar #geopolitics #fiat
The libertarian dream of “separating government and money” has been thus far, at least in the modern era, a utopia for three main reasons. First, because no government with a large enough geopolitical-geostrategic footprint will ever relinquish its relative exorbitant privilege. This applies both to other nations and to their own citizens, since fiat money is by definition coercive on the citizens of a state as it is enforced as legal tender by the rule of law, backed up by the state’s monopoly on the use of military/police force. Second, because, regardless of the local government in charge, who is really in charge of the money is the global banking cartel and the banking dynasties referred to in Part I.
The quote attributed to the founder of the Rothschild Jewish banking dynasty, “Let me issue and control a nation’s money and I care not who writes the laws,” clearly summarizes the importance of money and the power vested with it as well as the will to never voluntarily forgo this “exorbitant privilege.” Third, because up to now there had been no technologically advanced money tool available for that purpose.
Until #Bitcoin arrived, the available choice was between a hard/sound money standard somehow based on gold and a purely fiat one. Austrian economists have been advocating the return to a sound/hard money standard, but they are stuck with an obsolete solution for the digital age. Gold is good money, and it will still retain its store of value properties in the foreseeable future, but its use as a currency stopped well over a century ago because of technological obsolescence. Gold could not move at the speed required by modern commerce. Just like its use as a currency was fostered by the technological innovation of coinage, then it became obsolete when the Industrial Revolution increased the speed of commerce and gold could not keep up with it.
Bankers have effectively arbitraged that need and replaced physical gold with banknotes first and non redeemable fiat currency later.
Bitcoindollar The Dawn of American Hegemony in the Digital Era, p. 130-131 order now here
https://www.amazon.com/dp/B0F24TPNGP/
#bitcoin #bitcoindollar #geopolitics #fiat