Hu₿ertus the Austrian

What a letdown! In “Confessions of an Economic Hit Man”, John Perkins @JPerkinsAuthor initially recognises the huge geopolitical problems caused by fiat currency printing correctly. He also describes how some crony corporations have grown to abuse the fiat system. Unfortunately, his analysis is misled by his anti-corporatism ideology. He fails to see the root cause, thinks it’s “the dollar”. Not so: Cronyism is a consequence of bad political system, a symptom of its construction mistakes. Then he presents his solution: the next fiat currency. 🤦‍♂️ “In fact, today the existence of such a currency is no longer hypothetical; the euro entered the international financial scene on January 1, 2002 and is growing in prestige and power with every passing month.” Anti-climax! A currency must be honest and then will not trigger Perkins’s “corporatocracy”. But it must be sound, redeemable in a hard commodity, untouchable by politicians. The Euro is worse than the dollar ever was. The EU is a troubled, failed political system, visible after its short existence. It kills honest businesses and creates poverty, regulation by regulation. Gold failed. Bitcoin could restore honest currency and honest debt redemption. Politicians have no power over Bitcoin, not even its internal politician types. Only when Bitcoin touches fiat politicians can abuse their legal power, which is not possible in a circular Bitcoin System. That’s the one I am trying for. The dollar and any currency can be honest, will return to honesty, once it is redeemable in Bitcoin. And now we can even have a native Bitcoin currency, no politicians at all.

Most think than an elastic currency for Bitcoin necessarily means having a Central Bank. That’s like thinking that an economy on Bitcoin must needs a Soviet Gosplan. No such need. Just free markets.

How do you recognise a self-centred politician? Do-or-die, he insists on the fiat system which helps not the people but only his caste. Do not elect them anymore!

Economic Law is sometimes slow but it always works. Politicians’s Law cannot override it. That’s why I am 💯 percent sure that the fiat money laws will ultimately be repealed or sidestepped by #Bitcoin. Fiat money will go down just like socialism did: because it brings poverty and misery. Legal tender: Repeal! Central bank monopoly: Repeal! Payment censorship: Repeal!

#Bitcoin is a speculative asset. Currently. It will be a stable money. Soon. All that's missing is its currency layer. #Bitcredit Protocol is building it. Open source, permissionless. Join the @bitcr_org community to make it happen. The project is looking for Bitcoiners in the real economy, Producers, Importers/Exporters, Traders, For simulating supply chains on Testnet. Reward.