This is one of the best #history books you can read. It provides insights into economics and human psychology that surpass what you'd learn in any university. The main character eventually becomes a communist and emigrates to the communist GDR. Throughout the book, he struggles with a contradiction: while he is repulsed by the wealth amassed by major industrial players in early 20th-century Germany (like Inflation King Stinnes during the Weimar Republic), he himself often seizes opportunities to make quick profits.
The fundamental issue with fiat money is that it creates a monetary base layer that makes speculation appear to be an inherent aspect of capitalism, which I believe is not true. Greed is a natural human trait and one of the key reasons Marx and Lenin can be seen as charlatans. If you give a child too much chocolate, what do you expect will happen? The real question is who is providing the chocolate.
Additionally, we should remember that the establishment of a central bank as a state monopoly is a Marxist concept and is included in the Communist Manifesto. Interestingly, in one scene of the book, the author notices that his boss, a major industrial player of that time, has a picture of Rudy Havenstein on the wall!
Also, this book serves as a great guide for how to dollar-cost average in #Bitcoin during turbulent times.
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"On the wall behind him was an enlarged photograph of his father, and opposite it was an oil portrait of the Reichsbank president Havenstein.”
Through an acquaintance at the Tillmann bank, I bought foreign currency and only exchanged it for Reichsmarks when necessary. This way, I could live well on five English pounds, about one hundred gold marks, a month, and had no worries. For someone involved in the Stinnes conglomerate, it was not difficult to make side deals. Thus, at the end of 1923, during an exchange of gold bond notes—when the dollar was finally at 4.2 trillion marks—I made a profit of 600 percent.”
Study #bitcoin on #nostr here:
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