Free market economists have been decrying this system since it came about with the Nixon shock in the 1970s. “It will never work,” they said. “The feds will destroy the currency.”
But the at money system is still chopping along nearly 50 years later. Fiat currencies have plummeted in value since this experiment began in 1971. But they haven’t died.
The old free market economists could not foresee how the central bank would be used to crank out new money and lock away bad assets. They underestimated the power of the magic money machine.
Or perhaps they just confused inevitable with imminent.
The magic money machine cannot reverse course. The debt and unfunded liabilities accumulated can never be paid o . They can only be “rolled over” by creating more money and more debt. This guarantees that at currencies will continue to lose value every single year.
Which means the money you work so hard for will constantly lose value... forever. The magic money machine will never stop stealing purchasing power from you...
Up until 2009, there were no alternatives to this system. You were stuck holding paper money that was depreciating by the day. You were trapped in the rat-race.
No longer.
Bitcoin gives you a way out. With bitcoin, you can exit the abusive at money system. You can hold money that will grow in value over time because it is extremely scarce. And you can stop the magic money machine from stealing the value you work so hard to earn.
The abusive at money system creates a world in which you must work harder and harder just to maintain the same standard of living. It is impossible to save money because that money constantly loses value.
Bitcoin reverses this dynamic. It allows you to truly reap the fruits of your labor. And bitcoin makes it much easier to maintain, or even increase, your standard of living over time.
That is why I chuckle whenever I hear the objection: “But I can’t buy my co ee with it.”
One day you will be able to buy everything with bitcoin as easily as you swipe your credit card today. But that misses the entire point.
Bitcoin is not here to make shopping easier. It is not here to be a digital version of the dollar.
Bitcoin was born from the ashes of the 2008 nancial crisis. It is here to give you a way out of the abusive at money system. It is here to hold the power institutions accountable for stealing your purchasing power. Bitcoin is here to empower you, as an individual.
Bitcoin gives you 100% control of your money. It makes you the President and CEO of your own bank—with all the power and responsibilities that entails.
In a moral system, hard work and dedication should pay o . You should be able to set concrete nancial goals and then plan how you will achieve them.
That can’t happen when your purchasing power is constantly stolen from you. It certainly can’t happen when you are expected to bail- out failed banks and pay o debt you never incurred.
That’s why Bitcoin is here—to level the playing eld. Ultimately, bitcoin is going to give you back control of your nancial destiny.
- Big T
They may never die completely but inflation really sucks! I think we need to end it. Hopefully crypto will be able to.
Inflation is by design using Fiat, with crypto it's not possible
Now it is. It used to be stable though. I don't think they have to inflate it.
It's sure is
There is no substitute for hard work
very nice post..
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Well post dear @benedict17
Cool
It is a good post dear @benedict17 ..
And good work ..keep up it ..