Politicians who gain power by wrecking financial and social fabrics and gain revenues by wrecking currencies will run awful playbooks to maximize their perverse incentives and the worse they do, the more they get, which, in turn, makes things worse.
Since time immemorial, governments have controlled currencies and done an awful job of it.
We've had a number of private currencies that have worked well from private US bank scrip to Birmingham Buttons.
At least in the case of the US, this reach is increasingly near perfectly global and even the gaps are not terribly useful as you cannot get that money back into any banking system where it would be useful to you and simply being known to hold or trade assets in "Forbidden zones" gets you on a list and KYC rules get more draconian every 5 minutes.
BTC is certainly not a currency in any meaningful sense.
Simple fact: until 100 million of us can buy lunch with it tomorrow, it's not even in the discussion as a currency.
If we want currency taken away from states, first we must take the internet.
https://boriquagato.substack.com/p/the-road-back-from-serfdom
No comments:
Post a Comment