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Tribune: Modern Money is a Byproduct of Power – Bitcoin is a Byproduct of Change
We all know that this monetary system is corrupt. Nothing has gone wrong – the abuses are built into the system. Modern fiat money is perhaps the worst form of money, right next to fiat money. company title.
THE interest payments The U.S. national debt will reach or exceed $1 trillion this year. You must understand by now that Modern Monetary Theory (MMT) means that governments can and will create endless money.
In other words, with Modern Monetary Theory, governments have taken complete control over the nature of money. As Alan Greenspan points out, the real concern with Modern Monetary Theory is inflation, which we assume is inevitable in the current monetary system.
Whoever Satoshi Nakamoto is, he must have seen this coming.
The main problem today is that Bitcoin, which we love so much, has become the dominant force in decentralized financial systems. Bitcoin is probably the most successful proof of concept of human technology. But it should not be the last word in decentralized monetary systems.
Power is money
The nature of money changed in the 20th century.
In 1900, money was metal. A government could dictate the measure of gold or silver that created a unit of currency (dollar, mark, franc, etc.), but the basis of value was metal. By 2000, the value of money no longer had a basis in the physical world.
So what happened?
One word: hegemony.
Two world wars created a global hegemony for the first time in human history. This level of power gave rise to a new type of currency. Today, this hegemony is collapsing. The 20th century spirit wants to see our current situation as the evolution of a new hegemon – China.
This is not the case, children. We are facing the abyss.
Too much history!
There’s a reason why many consider Bitcoin to be “digital gold.” But it might not be exactly what you think.
People need a sense of value. That was the whole point of using metals as money. There was no central authority that could issue money endlessly (although failed governments debased gold and silver with cheaper metals – cads).
As Greenspan pointed out, as soon as there is inflation, people will look for another currency to flee to. He is right, of course, which is why so many Argentinians still use the US dollar.
In our modern world, there is no such thing as good money. It is fiat money, and most of it is directly controlled. The wealthy love China, but the yuan is a rotten currency. Nobody wants it – not even the Chinese.
So when inflation gets really high (mid-2026), people will look for other options.
I’m looking in your direction cryptos…
The existential question
The US dollar is not going down on its own. The idea that the US dollar could somehow go to zero while the Chinese yuan is rising is complete nonsense. Fiat money – as such – is going to die in a global inflationary storm.
Take the current Japanese Yen Emissions as an example of what is to come.
For some unknown reason, the Japanese yen has fallen to levels not seen in a generation. Some say this phenomenon was orchestrated by Western central banks. Perhaps to spite China. Who knows…
The takeaway is that to solve a fiat currency problem, you need more money. MMT at its best. Without any physical basis, central banks and governments can create unlimited money and seemingly solve any problem that arises.
Except inflation!
Backdoor deals could help Japan push the yen down, but the reliquidation of global markets with trillions of dollars (we don’t know how big the hole will be) could be inflationary. Japan might gain in the short term from the rising yen, but it will face the same structural inflation that all other countries will face in the future.
Fiat money is a trap.
Wall Street and crypto?
The banking cartel is a strange animal. Despite supporting (owning!) the Western financial system, the banking cartel seems to be interested in Bitcoin. And Ethereum too. The SEC has been slow on the BTC ETF, but as the political winds in the US change, more crypto ETFs are likely to come to market.
Here’s a theory: Cryptocurrencies are the lifeboat of the Western financial system.
Wall Street knew it was all over in 2008. The cartel also knew it had nowhere to go. So instead of letting the system unravel, it created Bitcoin through its connections in the US government (which has amazing cryptography).
Today, Bitcoin is all the rage, and investors are loving BTC ETFs. It’s no secret that the cryptocurrency market is moving at the pace of Bitcoin. By purchasing large amounts of Bitcoin through ETFs, custodians have a huge influence on how the crypto complex trades against fiat currency.
In other words, with significant control over the Western financial system and cryptocurrencies, the banking cartel can manage the collapse of fiat currency – and preserve its value by owning the tokens it deems worthy of interest.
Don’t ask us to prove it!
Whatever happens with the adoption of Bitcoin, it changes the way people view money.
It looks like an ETH ETF is about to launch on the US markets, which could pave the way for more crypto ETFs. We know that Wall Street isn’t focused on decentralized solutions, so don’t get too excited about the massive cryptocurrency rally that’s coming in the second half of 2024.
Wall Street and the banking cartel have plans for cryptocurrencies – and if recent history is any guide, they won’t benefit the poor masses who most need a reliable monetary system.
