The 🇫🇷French state was famous for currency revaluations, repudiations of debt and other arbitrary actions against debt-holders.
This caused it to pay higher and higher rates on its debt.
🇫🇷France needed a #Bitcoin standard!
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#Bitcoin art:
Wedding Procession (1892) - Maurice Denis
The Houthi attacks in the Red Sea will speed up the development of cheap land-based trade routes.
Bitcoin adoption for trade will come after BRICS realise the yuan is just as easy to manipulate as the dollar.
"#Bitcoin passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident."
- Arthur Schopenhauer
#Bitcoin art:
The union of love and friendship (1793) - Pierre-Paul Prud'hon
In the 18th century the port of La Rochelle in 🇫🇷France was competing with the 🇬🇧British ports of Liverpool and Glasgow for trans-Atlantic trade.
It didn't stand a chance. Why?
Unlike its 🇬🇧British counterparts, it was constantly preyed upon by the French 👑 crown looking for new revenue sources.
🇬🇧Britain and 🇫🇷France were deadly competitors in the 18th century.
🇬🇧 had one big advantage: its prudent governance allowed it to raise cheaper credit.
🇬🇧 understood the value of the #Bitcoin standard...
Ming China persuaded the Jesuits (Christian missionaries) to lend their expertise to help them improve their cannons.
The Ming government immediately established a centralised monopoly & any incentive to further innovate went away.
Decentralisation breeds innovation.
#Bitcoin
The Houthis show you don't even need a superior navy to disrupt sea trade.
🇨🇳China's best strategy is to source resources in Eurasia and sell its tech to 🇧🇷Brazil in exchange for 🇧🇷Brazil mined #Bitcoin
(this digital trade cannot be interupted by anyone)
Think of a country's savings % as its collective time-preference.
Is is long-term or short-term focused?
Look at the differences between the geo-political blocks... 👇
🇨🇳 China historically has a very high savings rate.
Savings are the pillar of a country b/c they finance the investments and innovations needed to thrive.
Imagine what 🇨🇳China would be capable of on a #Bitcoin standard...
Roman emperors had a 84% chance of being killed during the latter stages of monetary debasement.
This free-market mechanism was even extended to arms and war.
Mercenaries were competing for contracts and had to constantly improve themselves.
This gave Europe military superiority.
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🇬🇧 Britain's rise had much to do with its low tax burden.
This increased people's propensity to save and allowed the accumulation of CAPITAL.
CAPITAL that went into the innovations that allowed 🇬🇧 Britain to rule the seas.
This inability of #gold and #silver to cope with increased velocity lead to these market-driven derivatives.
Which were eventually abused (of course!), leading to #fiat currencies.
#Bitcoin combines the best of both worlds.
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Civilisations become successful b/c of small government
But success grows government, causing civilisations to falter
The only way to stop this natural process is #Bitcoin
After the 🇳🇱Dutch rid themselves of centralised Habsburg (Spanish) rule it released an entrepreneurial spirit that was an important main driver of economic growth.
De-centralisation is the way!
#Bitcoin
This caused the regimes of Europe to start facilitating and encouraging market economies and thus increase their income.
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With #Bitcoin we will see the same mechanism at play, but then at a global level.
Some countries will oppress Bitcoiners, while others will welcome them.
#Bitcoin's mobile nature will make capital (and skills) go to the welcoming countries.
Eventually forcing every country to accept #Bitcoin.
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"#Bitcoin is the spoils of peace."
-Saylor