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If You Want To Limit The Power Of The Super-Wealthy, Stop Using Their Money
Submitted by Charles Hugh-Smith of OfTwoMinds blog,
The only way to reverse rising inequality and break the power of the super-wealthy Financial Aristocracy is to stop using their central-bank issued currencies.
Many well-meaning people want to limit the wealth and power of the super-wealthy, i.e. the Financial Aristocracy/Oligarchy. (For more on the modern class structure, please see America's Nine Classes: The New Class Hierarchy.)
Reformers have suggested everything from a global tax on wealth (Piketty) to publicly owned banks to limiting the pay to play circus of campaign contributions.
None of these will change the power structure or limit the super-wealthy. as I explained last week, If We Don't Change the Way Money Is Created and Distributed, We Change Nothing. The super-wealthy will either move their capital elsewhere, derail the reforms, or have their political lackeys water the reforms down to the point they are nothing but a politically useful illusion of "change."
The only way to systemically limit the power and wealth of the Financial Aristocracy is to stop using their money, i.e. central-bank issued state currencies. Central-bank/state issued money is borrowed into existence and made available to financiers and the Financial Aristocracy to buy up productive assets.
Central states borrow some of this money to fund their bread and circuses welfare programs that keep the restive underclasses distracted, insecure and dependent on the state, but none of this actually changes the ownership or capital structure of the economy; it just makes the masses complicit in the status quo.
Though the vast majority of us have little opportunity to use money that isn't issued by central banks, that's changing. Bitcoin is the most well-known example of a non-state, non-central bank form of global money, but there are many more in use or in development.
The state/central bank monopoly on issuing and distributing money is (along with war-making and coercion) the state's most jealously guarded monopoly. The state-- which includes the largely invisible Deep State, the central bank (Federal Reserve) and the visible machinery of government--retains the sole right is issue money in whatever sums it chooses and to whom it chooses because the jig is up if the state loses the power to reward its Financial Aristocracy cronies and fund its own programs.
A nation-state in which the populace is free to use a variety of competing currencies is a nation-state in which the state can't fund itself with newly issued funny-money or distribute new money to the super-wealthy.
In a nation that uses competing global non-state currencies, the state must live off tax revenues and bonds sold in the open market, free of central bank collusion.
In a nation that uses competing global non-state currencies, the state cannot generate inflation by over-issuing money.
In a nation that uses competing global non-state currencies, the central bank loses the power to enrich the super-wealthy.
Isn't it obvious that whomever controls the digital "printing press" of new money controls everything? Conversely, if this power is stripped away from centralized states and their banks and decentralized (as I outline in my new book A Radically Beneficial World: Automation, Technology and Creating Jobs for All), the essential mechanism of transferring wealth to the super-wealthy and their political lapdogs (Clintons et al.) is broken.
States will naturally suppress competing currencies and outlaw any threat to their monopoly. That bitcoin is not yet illegal in the U.S. is a surprise. What isn't a surprise is that Goldman Sachs has sought patents on its own crypto-currency: Goldman Sachs wants to create its own version of bitcoin. (via Drew S.)
Those who believe states can never lose control of their currency should consider what happens in hyper-inflation. When states debauch their currencies and push them over the cliff, people abandon the currency in favor of money that holds its value and acts as a means of exchange.
In such a setting, a non-state digital crypto-currency currency is a practical solution. Gold and silver are always money, but they have their own risks and limitations ("my lead will take your gold" etc.). When official money loses its purchasing power, even phone-card minutes can act as money.
As farfetched as it may sound today, I suspect there will be a ruthlessly Darwinian sorting of currencies within the next 10 years. Nations with broken national currencies that adopt non-state competing currencies will outperform nations that cling to centralized enrich-the-already-super-wealthy model of central bank-issued currencies.
The only way to reverse rising inequality and break the power of the super-wealthy Financial Aristocracy is to stop using their central-bank issued national currencies. When the world ceases to use the Financial Aristocracy's money, their power to accumulate more wealth at the expense of everyone else will disappear.
Everyone who is convinced that the current status quo is permanent and unbreakable should consider what happened to the super-wealthy private landholders of the Western Roman Empire. When the empire's power to coerce broke down, the super-wealthy vanished into the dustbin of history.
Few believed that possible in 475 AD, but history isn't a matter of belief. Believing it isn't possible doesn't stop history.
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Until people start burning dollar bills in the street (which would be awesome)...I doubt this will happen anytime soon.
It's a start. But this might send a stronger message: If, on April 15th you find yourself "owing" Uncle Fed, send them an IOU NOTHING voucher.
TD, it is only legal when THEY do it.
Sheesh, must I explain everything?
pods
Sorry CHS, but there isn't going to be a real opporunity to set our monetary system straight until legal tender laws go away, and that isn't going to happen until currencies crash or WWIII happens.
Well, when I can pay my rent in IOU's and eat for free I guess that will happen. Until then the tribe has the controlling power.
But that's the problem with our monetary system. You fundamentally do pay your rent in IOUs.
And Bitcoin is not only every bit the Ponzi that FRNs are, one good EMP makes them - go away. Buh. Bye.
No thanks.
If someone EMPs New York everything goes away except physicals. Bitcoin can be stored as a series of characters on a thumb drive in your pocket with a copy of the blockchain and the entire Bitcoin ecosystem could be reproduced from it. Bet you can't say the same of the banking system. The funny part of watching people bash Bitcoin is watching people think their dollar deposits are somehow safe at all. Dollar deposits have lost 95% of purchasing power in a few generations by design.
This is a profound truth.
Financial elites don't build and create, they obfuscate , corrupt and skim.
Crypto currencies though, will enable authoritarian control, not alleviate it.
What's needed is a verifiable, binding means of exchanging claims on gold.
STARVE THE FUCKING BEAST IN 2016!!
PM's all the way,
Silver, Gold, Lead, Brass and sliding Steel...
"They" want to take it all and give you a peice of paper...
I'll give "them" the lead one peice at a time and "they" can keep the paper....
@strannick:
"Crypto currencies though, will enable authoritarian control, not alleviate it."
disagree.
cryptocurrencies are just tools, like guns are.
the more people have them in their possession, the better our chances are for liberty.
the ability to transfer wealth anywhere in the world, without going through a bank's transfer system that can block your transfer, skim some fees, impose restrictions or KYC/AML regulations, is something that empowers people.
Please coherently explain how a decentralized ledger that is de facto uncontrollable by even a government with massive resources will enable authoitarian control. Bitcoin has already facilitated tens if not hundreds of millions of tranactions which are not approved by the "authorities." It is the most anti-authoritarian system that modern technology has produced since the printing press.
You lack true analytical skills. I keep my crypto on a stick, which I keep in an EMP-proof box.
If the US has an EMP, it's time to take the slow boat outta here. Literally. And then use gold coins and crypto-on-the-stick in another part of the world.
Of course, an EMP is what happens just before the thermo-nuclear warheads start raining down. In which case you'll have bigger problems than "what do you do with your paper, crypto or PM?".
"EMP-proof box."
...More formally known as a faraday cage, which can be had here: http://www.ebay.com/itm/Faraday-Cage-ESD-bag-material-5-Yards-X-36-wide-... for $45.00 + shipping.
This should finally put to rest all the fear on ZH about the EMP bogey man.
The way the PTB go after anyone with large amount of bitcoin has convinced me of its viability as an alternative.
Exactly. Shrem, Roberts, that guy in Colorado... "they" are pissing their pants over cryptos because they know once critical mass is reached - if it hasn't already been reached - there is nothing they can do to put the genie back into the bottle.
They cannot take down Planet Earth's new common currency with their usual violent toolbox or other technical means so they are now turning to more subtle propogandizing in a desperate attempt to turn people away. Expect to see more and more anti-bitcoin and anti-cryptography language spewed from the political class and their media cronies as bitcoin continues to grow.
IF there are EMP's strong enough to take out the entire internet (and even that wouldn't necessarily kill Bitcoin), there are far, far more important issues than how much digital currency, be it Bitcoin or something else, you can still "claim", access, etc.
This is patently untrue, and comments like yours are one of the reasons I'm so bullish on bitcoin - it's simply misunderstood by smart people. I won't bother to try and educate you here why you are wrong, but I'd like to encourage you to do some more research into how bitcoin works and why it is so revolutionary. A good starting point is bitcoin.org or bitcoin.com.
In the fundamentals of economics, there isn't anything inherently wrong with an IOU. You buy my lunch today, I buy your lunch tomorrow. This is a virtual IOU. Accounts Payable, is a virtual IOU.
The problem is when a single banking entity gets to create all the IOUs by virtually counterfeiting them into existence, and gets to spend them at market value in a never ending perpetual motion value destroying cycle.
The other problem is that IOUs, by their very logical nature should be limited. You and I will do this naturally by not allowing you to give me 200 IOU's for lunch. But with Federal Reserve Notes the counterfeiting from the FED and their member banks has no constraint. People then mistakingly confuse these IOUs (notes) with wealth and start stacking IOUs.
There was a guy I worked with long ago who had a "gentleman's agreement" with his boss by saving vacation days. The company only rolled over 20 days to the next year but he had 100 days "saved up"....until his boss left the company, and no one else would redeem his virtual vacation days. Stacking a drawer full of IOUs is never a good idea...but the world has now been completely convinced by the banking elite that these IOUs = wealth. It all works....until one day, when it doesn't.
It would be awesome if the Illinois lottery winners paid their taxes with the IOU they were given by the State of Illinois.
If the IRS balked, then the question would immediately arise: if it's illegal for the gov't to receive the IOU, then how is it not illegal for them to have issued that exact same IOU--not any other IOU, but the exact one issued by the gov't to the individual?
Yeah, the masses (of which I am one, sadly) were enslaved long before we were born.
You are a slave if and only if you believe you are. The one thing they can never put in chains is your mind.
+1
"Emancipate yourself from mental slavery, none but ourselves can free our minds"
-Bob Marley
"When the power of love overcomes the love of power, the world will know peace"
Jimi Hendrix
'Entre los individuos, como entre las naciones, el respeto al derecho ajeno es la paz' -
Benito Juárez
The one thing they can never put in chains is your mind.
Nice theory, but what do you call PC then?
But yeah, the advantage is you can take those chains off yourself without anybody able to stop you - if you choose to do so.
That's why all the efforts to create slaves who believe they are not.
I wouldn't say "never". Look at all the sheeple watching teevee and believing it all.
The Red Pill is just too hard for them to swallow... and the matrix wins again.
Yup, we were pretty thoroughly convinced the only way to survive the various oppressive masters we were faced with was some combination of outer compliance and inner rebellion which now finds us in a situation which would require charity to identify as even a "zero-sum game."
Why burn it?, just stop working for it. All people have to do is reject consumerism.
"All people have to do is reject consumerism."
Exactly!
Consumerism can only exist with the power to print money. If humanity had rejected fractional reserve banking as inhumane, people would still be only purchasing what they need for their lives.
The rejection of consumerism is like asking a starving animal to avoid food. The rejection should have been against false money, and consumerism would have never manifested.
Likening life without your smartphone or gadgets to starving for food is spurious and shortsighted.
The rejection should have been against corporations having higher legal status above the individual.
This is a cool ending scene of a movie showing people dumping all the money on the streets. We can dream right?
https://www.youtube.com/watch?v=qqN6sy7xWjw
The people are not capable of voting for right leaders let alone to reject consumerism.
anyone who votes for a leader, isn't voting for the right leader.
a true leader isn't someone you vote for, it's someone you become.
Rich Russians were burning 500 euro notes during the drinking parties on their yachts - for different reason though.
Russia, China and many other nations already have stopped or have drastically reduced usage. Trillions coming home soon.
Most of you here already think this way. But it's worth a watch anyway. 14:19 long.
https://m.youtube.com/watch?v=EhA0tScgqhQ
Fonestar will love this shit!
Unless it's convenient for the "consumer", it won't happen.
"In such a setting, a non-state digital crypto-currency currency is a practical solution."
The powers that be can easily place protocol filters on the routers at Internet boundaries (the big carriers) and block all bitcoin transactions. When that happens, bitcoin will be worthless.
Cash Slides from one hand to another quite readily ...
It doesn't matter the medium of exchange, if it is not convenient or there exists very compelling reason to do otherwise (death, incarceration) said medium of exchange won't be used.
I disagree on the ability to block digital crypto-currency effectively.
Have you ever heard of cryptography? Obviously not.
Well, in a massive economic collapse, nothing will be convenient to the consumer, so then the question becomes, which alternative is the least inconvenient? That will likely be barter first and then an alternate currency that is more convenient than barter and more convenient than gov't-backed currencies...
Well...nice thought, but everyone who needs money, the banks and Visa are offering it. Bitcoin is to skiddish for most.
Good luck with all that.
JFK
And Abraham Lincoln.
He needs to be dug up and shot again.
Hang him first,.....by his feet .............above a pile of fresh manure.
Ahh, the JFK superhero EO 11110 myth. Always pops up every couple months.
Stop using credit and their system will fall. Well, fall faster cause it is going to fall anyways.
pods
Ahh oh contraire,
JFK said no to the wrong people.
That's what you don't do is tell them something they don't want to hear. I can't imagine they want to hear anything about people using money that isn't controlled by a central bank.
So the EO 11110 myth means nothing to me although silver certificates are cool I don't think JFK meant to say no to the FED he wasn't that stupid.
Again,
JFK
jfk is just one of many who rebelled as they knew more about who they worked for and what they wanted. the men running things at the top think they ARE related to roman ultra rich. one family claims they are related to egyptian and and persians, notice the love of obelisks showing up everywhere. think that damn so called washington monument was the idea of regular americans? just how many feet tall is that monument including the deep base? 3 numbers, all the same !
http://en.rsf.org/press-freedom-barometer-netizens-imprisoned.html?annee...
Bitcoin, Fiat Money and the Bucket of Water: https://youtu.be/1G-4kTI0IwY
I think the future is bitcoin and precious metals.
Potable water.
Any move including bit coin that the little guy can do has been thought of and planned for by the elite. Get used to being a slave and keep working...
"The only way to systemically limit the power and wealth of the Financial Aristocracy is to stop using their money, i.e. central-bank issued state currencies."
I was saying something like this over Christmas and they all dismiss me very quickly...except for my wife and daughter (and I am very grateful for that).
These baby boomers went on to tell me about how we'll be cashless soon and there will be no more bricks and mortar banks soon everyting will be done electronically and online. They celebrate this and seemed to be gloating about it...one was even a banker. I took one relative through the drive through for a coffee and he insisted on paying and he handed me a credit card ("I never use cash, I collect points").
I had to go for a walk.
That is the system that is coming. And not by accident.
No bank runs if you have to keep it in their system. No matter where you move it, if it is in the system, the system will survive.
The people who built this are very smart, very patient, and have zero empathy.
Difficult opponents to say the least.
pods
Much like in cancer treatments the trick is to get the body to recognize the threat they literally are wolves in sheeps clothing or worse they are just ho hum burearcrats that are the public faces for plots hatched in private.
Yes it's diabolical but of course it is otherwise it would not present a proper challenge.
The truth is key always tell it.
Cancer can be Cured with Vitamin B-17 and/or liposomal vitamin c. Liposomal Vitamin C can be made yourself.
Do you have any credible evidence to support that claim?
Yup! Once they decided to burn down the house, their first order of business was to barricade all the exits!
Yeppers it's like watching someone in that story by Poe being gleeful as they are bricked up.
http://americanenglish.state.gov/files/ae/resource_files/the_cask_of_amo...
If I remember correctly, the guy who got walled up literally "sealed his fate" with his personal behavior long before it actually occurred. He walked to that wine cellar volitionally if not voluntarily. Wake up, folks!
I don't see the harm in taking advantage of how they take advantage of the undisciplined users of credit. For example they offer on some cards 30,000 - 50,000 "points" for using 2000 "dollars" worth of credit and paying it back within a 3 month period. Usually those points are 100 to 1, meaning that every 100 is worth a buck. That being said on 2,000 dollars you can receive back anywhere from 15% - 25% rebate. Not too shabby. Now the lower end cards will offer about a 20% rebate on 500 dollars spent. So If you are disciplined and can pay off your card within the month you are making out like a bandit. My wife and I booked a vacation paid for it with a Southwest card, paid it off and got the Airfare for free with miles left over. The key word here is DISCIPLINE they count on you having none. If you do you can benefit from their misplaced faith.
Man, it's an exercise in futility I'm afraid. You're working against an entire system dedicated to dumbing down the population with the sole intent of making happy slaves ("good" citizens)---loosely based on the Prussian educational system model.
Agree and I might add, nothing wrong with 10-15% Gold, it's served the ages and is pure. So too is the word written 2000 years ago " And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name."
These fuckers are pure evil, we've been given the answer, drop out as much as one can, never take their mark.
Fuck Them, I will die for my Father In Heaven.
Woodchipper operators. Can't wait. "Woosh"! ‘Next, please.’
This is normal sheeple behaviour. No clue what money is, how it's created or controlled, or how their data is collected and collated.
Don't worry about it, they can't be saved. Every so often all species go through a "population bottleneck". This is where the sheeple die off and the rest go on to repopulate.
https://en.wikipedia.org/wiki/Population_bottleneck
funny way of looking at things
"A nation-state in which the populace is free to use a variety of competing currencies is a nation-state in which the state can't fund itself with newly issued funny-money or distribute new money to the super-wealthy."
well, in the eurozone we even have private currencies, they are fully legal and allowed and everything. and trade can - or must, in some cases - be done in dollars (for oil, historically, see "petrodollar") and any other currency as trade requires. just taxes are to be paid in €
"In a nation that uses competing global non-state currencies, the state must live off tax revenues and bonds sold in the open market, free of central bank collusion."
the first part has a name: balanced budgets. check, again, if not fully so
"In a nation that uses competing global non-state currencies, the state cannot generate inflation by over-issuing money."
and what if all currencies are engaged in over-issuance? well, we eurozoners love gold, even if we aren't "in your face" about that. but "paper gold" is overissued, too. and bitcoin demand very volatile, isn't it? size of currency matters, too
"In a nation that uses competing global non-state currencies, the central bank loses the power to enrich the super-wealthy. "
well, yes, but competition, at this point, is still among state currencies. and they are all competing... down. as in a "fire sale"
well, not holding some gold is still a stupid idea, imho. holding too much... might make your nights less restful, and that's a waste of sleep-inducing metal, imho
nevertheless, don't kid yourself: the super-wealthy? they do hold gold. even those who won't admit it, ever
Nothing wrong with having 5%-10% of your wealth in Precious metals, Just in case.
Here's why that idea is terrible. Ordinary people would have to give up and sacrifice almost everything to make an infinitesimal difference. The elites would lose very little or infintesimally small. The action would be symbolic and nothing more. I'm sure many elites would be laughing if people try it.
The only way to reverse rising inequality and break the power of the super-wealthy Financial Aristocracy is to stop using their central-bank issued national currencies.
And if unicorns shit gold, I'd be rich. Stating the obvious with no real means to effect the change is worthless.
Nothing a big messy civil war in Saudi Arabia won't fix.
Beancoin, and Ricecoin.
Can opener and a pot you'll be a millionaire.
Until about 100 years ago people used silver and copper as money. And once in a rare while - gold for big ticket items.
It worked well for a long time, the only reason to change to paper is because you have the power to change things and you find yourself in difficulty with your bills.
Also, stop "trading" in their stock market.
"...The only way to systemically limit the power and wealth of the Financial Aristocracy is to stop using their money, i.e. central-bank issued state currencies. ..."
Charles, you are slightly fucked.
If you want to fuck the establishment, kill velocity. The way to do this is to limit/stop spending.
As well, manage your own cash - take the "financial advisers" out the picture.
Not to mention take the money out of the Mega Corps. Make your own Soap. You can make more than a years worth for like 8 bucks and women love the shit. Brew your own beer, its always cheaper and tastes better and is much better for you. Brew wine same benefits as beer. If you must have entertainment learn about VPN services and bit torrent (be careful) or better yet entertain your self with going outside. Garden, raise chickens and plant fruit trees. Pull your self out as much as possible. Your living standard will increase your health will better and you will save money. Teach your children.
"the super-wealthy vanished into the dustbin of history."
Yes and it only took 10 or 20 GENERATIONS to happen.
In the mean time...no money YOU DIE!!!!
Hahaha
Yeah considering the disappeared into a time called the DARK AGES it's hardly a comforting meme.
No you don't die. There's a long period of psychological adjustment and misery and then you get used to it.
If you have any personal worth, people will step up and make sure you have food clothes and shelter.
I haven't had a job OR CLAIMED UNEMPLOYMENT "BENEFITS" for 14 years now, and the hardest part has been ignoring the decades of previous social conditioning that try to make me feel worthless.
Admittedly the car in my picture now rests immobile on my partners drive, and I can only rarely afford to buy my beloved pot, and it's been a LONG time since I took a vacation to foreign climes, but I pay no taxes, consume very little indeed, and have the time and inclination to do what work I do choose to do, meticulously and for the joy of the task itself. If it's paid work I insist on doing the job without any agreed price, the customer can pay me what they feel comfortable giving me after the work is complete. It's very subversive as my customers have to think about VALUE rather than PRICE.
there's an easier way. use their money to get yourself free. don't count on it all crashing down due to hyperinflation, that's a fool's gambit. the maggots won't allow hyperinflation for as long as possible because then their holdings aren't worth jack shit. if the people all donated ten bucks each we could buy back the congress tomorrow.
Welcome to the party Chuck, albeit about 5 years late.
The Bitcoin Channel
It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. ~Henry Ford
You tell this to the average American-Sheeple and they look at you like you have a third eye-ball....
Been trying to explain this to people for years and to buy PM's... Again, they look at you with that RCA Puppy-Dog Head Tilt Look...
Barter Town will look a lot like a yard sale, just more tables, and no table fees...
And I will think, "Surely I have died and gone to Heaven!", and will hit the ground running, small bills in hand, and begin to make a pile...
You don't have to stop using their money. Just stop buying their shit.
All it would take is one generation to shun consumerism, and stop buying useless crap, to bring the whole thing to a screeching halt. The companies making all the useless crap will go out of business, as will the banks lending money for the buying sprees, and the government agencies that skim from all the transactions.
There is enough crap already out there to supply several generations. If people trim their lifestyles a bit, and re-use, recycle, re-purpose, etc, they can outlast the corporate-driven market. They can live without the stuff longer than the market can live without the sales. All that productivity of the past few decades can be used to our advantage for a change. In their greed, the "makers" made too much crap, and gave us the surplus we need to wait them out.
What would Apple's profits look like in a world where people used a phone until it wore out, broke down, etc? Where you brought your phone to someone who fixed it, rather than buy a whole new one? What if THAT was the new normal, for ALL industries?
Agree with you 100%. However, as with anything else regarding human nature, easier said than done.
Until a couple of years ago I was probably the last one in the office with a flip phone. Got weird looks from my co-workers when I pulled out my relic, but it was a good phone, good reception, I could actually have a phone conversation (smartphones in general are terrible as an actual phone). Anyway, I was playing around with my son’s smart phone one day and I realized what a useful tool it could actually be. I convinced myself that I needed one.
About a year ago I read Steve Job’s autobiography There was a quote in the book that really stuck with me. When he was asked how he knew exactly what products people needed, he replied (I paraphrase):
“I don’t make products people need. I make products people want, before they know they want them.”
It was then I realized what a true evil genius the guy was. A modern wizard, if there ever was one. I didn’t need a smartphone; I just wanted one and didn’t even realize it. Then I convinced myself I needed it.
Anyway, now I have my work life too entwined in my phone to get rid of it. However, next year when I plan on retiring, the smartphone is retiring along with me, with a nice burner flip phone to take its place.
I carried a smart phone from 19 to 27 years of age, and finally ditched it for the flip phone. Now people stop bothering me with texts and emails and other folderal. If they want to get in touch with me, they have to call. Since most people are only willing to call when it's important, it screens out a lot of useless chit chat. Plus the reception and battery life are much better.
I did have to fight with the guy at the verizon store to get it though. He kept showing me smart phones. I stuck to my guns and he eventually gave in and sold me a dumb phone.
I see the argument about needing a smartphone for work, but for me personally, if my job required I carry a smartphone, I probably wouldn't like the job.
Killing them is a good way to stop them. Jus' sayin'.
Human nature changes so slowly as to be imperceptible at all, however the world is changing rapidly.
So you take basic human nature and give it all sorts of neat toys that aggregate information and power into small tiny spaces and presto you get the modern oligarchy we know and love.
Diffusion of power is the only possible solution and those that have power don't want it diffused.
The options to combat this are relatively few and they are stark but they are what they are.
How do you stop using their money when they tax you in their money for owning property? For buying something? For selling something for a profit?
“How do you stop using their money when they tax you…?”
We have to duplicate what American Founders did; this will give you an introduction.
Bitcoin is like the net itself. They think they can control it. If they find they can't they will kill it.
Not easy to control or kill, by design.
Never happen. Americans are programed from birth to do two things and two things only. Consume and Destroy.
And I blame the parents because they dont know any better either.
Case in point; I looked out the window Christmas morning to see 3 kids riding by on those stupid battery exploding, house burning down Hoverboards.
Not only did they NOT think about getting their house, err, apartment burned down but they didn't even consider that their kids can get up from playing the x-box all day and not even have to walk to their friends house so they can sit down and watch tv. WoW! Thats great....
So much for hard choices and being a parent in stead of being their bestus of all buddy.
The wealthy people of Rome didn't disappear. That is patently false. Watch the original Camelot interview of Leo Zagami.
"A variety of competing currencies.." per nation state?
And yet a variety of competing national currencies per planet (~one currency/nation; IE one provided by the people for the people) functioned adequately right up until 1974, the year the Basel Committee formed. Just look at monetary inflation, diminishing inflation adjusted wage rates, and parabolic national debt levels stemming from that year for practically every western nation; once they were `convinced`to hand over public works funding to the private, international banquing interests. Pretty freaking big set of coincidences there, in my opinion.
Whoever has the power to create the currency is the one who ultimately controls it, so
"Once a nation parts with the control of its currency and credit, it matters not who makes the nation's laws. Usury, once in control, will wreck any nation." Bill King
Some Swissies seem to get it:
http://www.swissinfo.ch/directdemocracy/monetary-reform_-sovereign-money...
Double plus good, Charles. Yes, don't spend Their fake money, but don't earn it either. I work only for barter or real money.
This is an optimistic (out of character for ZH) essay.
1. we have the technology to conduct business by barter/other currencies
2. the solution is to walk away. Going Galt is a long process involving many steps. Each one is enjoyable and healthy.
Fuck bitcoin. Why? Simple, it is NOT anonymous. When I can conduct bitcoin transactions in any amount that the fedgov cannot trace and tell me I owe them for 20 years of back taxes on those bitcoin transactions THEN I will use it. Until then, gold and silver.
Although the bitcoin protocol itself does not provide anonymity, there are ways to make it anonymous.
Use Monero (XMR). It's private by default.
People will only care after they lost it all.
They're just to dumbed down to react.
Even with multiple private currencies they will consolidate. Public money creation while imperfect is the solution. Private is just a fig leaf for misdirection when asking questions about the national budget. If I pay taxes and I do, it should very visible what my money is being spent on.
Right now as for me I am like thay dude that gets space dementia on the asteroid in the movie Armeggedon. Just trying to have a little fun before I die with a better view. I do do some things locally and arbitrate rich people squabbling at my HOA. For some reason I am being entrusted to make the rules going forward. I realize I wont make all the board or residents happy just perhaps a majority.
Check out this blog for more writing on economics and the decentralization of currency https://annrhefn.wordpress.com/
Latest two posts are:
Gold And The Blockchain - The Digital Gold Standard On Steroids https://annrhefn.wordpress.com/2015/11/01/gold-and-the-blockchain-the-di...
Bitcoin Kills Banking - How It Happens And Why It Will Happen https://annrhefn.wordpress.com/2015/12/06/bitcoin-kills-banking-how-it-h...
Reduce the ROI to corruption by decentralising (de-progifying) monetary/political authority, and then start a food fight between the garchs. Leave by rear entrance, return to the front, and observe the results. Repeat. Over and over and over again. Wasn't it JP Morgan's old man's generation that thought of competition as "wasteful"? There you go. Nothing wrong with billionaires as long as they are made to earn it. They abhor competition.
These articles are stupid. point to an obvious problem and posit an impossible solution. Genius.
Jesus Christ. Are we that desperate for hope? Y'know, when every solution proposed by a planetful of smart men and women is FUCKING IMPOSSIBLE it might be time to consider the possibility that we are just fucked.
Plenty of solutions to uncontrolled currency. "Commodity currency" can be ANYTHING that has reliable, universal value in its society. Cigarettes, for instance, have been currency in prisons and military camps for the last hundred years. Good alcohol is easily adopted as a currency, especially when there is a reliable brand. Back in the 70's the Festival circuit adopted weed as the currency standard. I expect that in about 30 years, decent coffee will be accepted as currency anywhere in this country, as its cultivation is about to become much more difficult.
Ideally, a currency commodity needs to be both portable and nonperishable, but historically deviation from those ideals is common. A perishable currency that will be consumed before shelf date is usable; a not-particularly-portable currency like the Spartan iron bars or Sumerian copper ingots is still functional. Some advocates like the idea of using small-arms ammunition as currency, since it will always have value in a society breaking apart. Whatever. There are a lot of options.
“Bitcoin is the most well-known example of a no-state, non-central bank form of global money…”
The trouble with bitcoin is a) anything or any action that receives even a mention by the FBI/CIA/Mossad-controlled media has been vetted by the Judeo-Bolshevik-controlled deep state. It’s just another device to siphon resources from the gullible; b) and, it is only a computer blip away from oblivion.
Don’t get suckered.
The only non-state alternative to central bank issued currency, that could be trusted, is one that is controlled and operated by those who use it; and, which is protected by several First-Amendment assemblies.
Proceed with caution, and due diligence.
You clearly have no idea how bitcoins are stored nor how Bitcoin as a monetary network operates. It is not a "blip away from oblivion;" it actually can't be killed, as the database is replicated millions of times over by independent nodes across the world running open-source software.
They couldn't kill Bitcoin anymore than they can kill BitTorrent or Linux. Do some research.
And when the power goes out? And the networks fail? REALLY.
The internet is an appallingly fragile creation. Server farms are delicate, expensive to create and operate, and can be knocked out by any number of catastrophes, especially the wild weather likely to be consequent on global warming over the next century. Where is bitcoin, when there are no computers? Where are computers, when there is no reliable power? Where will there be reliable power, when the costs of fuel shoot skyward, and more nuclear plants go the way of Fukushima and Chernobyl; when Savannah River is under the Atlantic and half of the hydroelectric plants in the West are shelved due to falling water levels?
We are just about at Peak Technology. The curves fall downward from here on: oil more expensive to extract, nuclear too expensive to build, no undammed rivers left for hydro; falling agricultural production, rising death rates, falling birth rates, etc. Commodity prices telegraph the fall in industrial production and assure lower commodity production for decades in the future as necessary investments for growth are postponed or declined. We have reached the Limits To Growth. From here on out everything is harder and more expensive. As a result, "progress" will slow to an aching trickle. Things in the can today may make it to prototype, but markets are unlikely to adopt them due to lack of funds. And bitcoin is dependent on a vibrant, growing internet commerce. While the real internet is going to gradually decline and fade away.
Nobody's "killing" Bitcoin, BitTorrent, or Linux. But they won't be widely used a lifetime from now.
Electronic Warfare has come along way since my day and if anything our delicate societies are more dependant on digital communication and control systems than ever. I am going to hate seeing the aftermath of that first week of all-out, concerted multi-nation state EW attacks on civilian targets. Every gas pump, GPS, utilities smart meter, and cell phone on the planet is going to be bricked.
Yep first fucking thing.
That's the rub, isn't it?
The plebes want to spend now, so they sell their soul for trinkets to the tricksters. Oldest trick in the book.
If we're thinking here in terms of least bad monetary alternatives, instead of some non-starter proggy shang-ri-la, then we had one once, one that was at least less bad:
https://www.minneapolisfed.org/research/QR/QR632.pdf
If we're thinking here in terms of least bad monetary alternatives, instead of some non-starter proggy shang-ri-la, then we had one once, one that was at least less bad:
https://www.minneapolisfed.org/research/QR/QR632.pdf
(for emphasis)
"If You Want To Limit The Power Of The Super-Wealthy"
The question reveals the fatally WRONG attitude - I want to JOIN the wealthy and limit ONLY the power of the parasites who steal MY earnings, ie GOVERNMENT.
I want to equalize the opportunity for everyone. People aren't equal, but opportunity should be.
Sorry charlie. Its all about the fruits of our labor and tptb ability to use force. That stall thing then we can talk freely about the coin.
“The only way to reverse rising inequality and break the power of the super-wealthy Financial Aristocracy is to stop using their central-bank [or government] issued currencies.”
Exactly; and, welcome to the real game.
This is the conclusion I reached more than 45 years ago; I also concluded that if it is to be done, it had to be done by private means – that is, not sanctioned by useless and criminal classes.
Accordingly, I began offering a gold-based banking service in 1976; and operated it for 28 years; at which time the combined efforts of the IRS, Department of Justice, federal courts, and CIA/FBI/Mossad-controlled media conducted a classic inquisition against me. It resulted in a summary judgment for a crime that never happened – among other disasters.
Needless to say, I made many mistakes; chief among them is that I offered my service before I collected the power to protect it. This, plus my other mistakes, are mistakes I won’t make the next time I/we offer the service.
They do so like to change the rules mid game. That is a hard lesson Im sure. They move the goal post all the time. Weather its by fiat magic/credit or regulatory capture. Then there is cock blocking. Straight up theft. That Corzine stunt. If need be a bullet will do it.
They leave nothing up to chance.Why would they?
We will not ever change this system playing by their rules. Force is their game. The trick is going to be in taking their ability to use force off the table. Do that and then maybe just maybe something better could be done.
A system that does not run on force is workable.
Live in the //* economy:
Galt. Barter. Cash. PM. Crypto. Mefo Bills, at the national level (for Greeks).
In any combo, as it suits the times, needs and situation.
Too succinct to flog as a whole ZH article? Sorry.
* parallel
All national currencies will eventually fall to speculative attacks from FX investors using Bitcoin. The details are explained here:
http://nakamotoinstitute.org/mempool/speculative-attack/