Indeed boys with guns back the US dollar. But do not forget to mention the worlds (current) most bountiful energy source: Fossil fuels.
We burn ~ 100 million barrels of oil/day, each barrel containing ~1700kWh of work (or 10.5 years of human labour). In the 70's the US made the agreement with OPEC members that all oil they sell will be denominated in US dollars. That's a lot of (unsustainable) energy, and with the boys with guns it has guaranteed the status of world reserve currency for the USD for the past 50 years. But at what cost?
What we call "civilisation" (I dont think our civilisation is very civil) has been the continual expansion and conquering of this world. Conquering the natural world, destroying forests and farming animals to expand food production, conquering fossil energy sources, conquering other countries, races, minorities.
Always at a cost. And boii are the costs grand.
When the conquering of one source of energy is no longer rewarding/profitable/legal/accepted we move on to the next realm.
Cue, Fiat:
The promise to repay ever expanding debt and monetary supply. The expansion of "civilisation" within the realms of the next source of energy. Indebted energy from the future. What is the cost though?
An obligation to grow, and the further exploitation (and accelerated exploitation) of our world in times to come.
Further exploiting nature. Exploiting our people.
- besides: everything in our universe has physical limits, laws approximating what is real. Why should we have limitless money?
We need to change the idea of our society that we are not enough as we are and that we do not have enough, that to be successful or to be happy that we need more (growth). The idea that we are not sufficient.
Bitcoin is real money with real rules. It is bound to physical reality with proof of work. Bitcoin can hope us realise that we are enough.
Realising we are enough, coming closer to reality (and away from fiat promises of eternal economic growth), this is how Bitcoin can fundamentally change our world. This is a money of sustainability.
The age of fiat is ending. I hope that when the exploitation of debt (of future energy) is no longer accepted/legal/profitable that we move on to the next frontier of growth. Inner growth.
#grownostr #growstr #sustainability #energy
