The number of crises in Europe increased significantly since the introduction of the Euro...

After the Napoleonic Wars of 1793 - 1815 tarifs and other trade bariers were removed in Europe

This encouraged long-term investments and stimulated economic growth

Napoleon established the Bank of France in 1800

The goal was to keep his wars going

#Bitcoin is the invention of:

1- Digital scarcity

2- 100% sovereign ownership of an asset

3- Exchange of value without the need of a 3rd party

“I believe it is impossible to be sure of anything, but #Bitcoin”

-Han Fei

#Bitcoin art:

The Dinner at the Ball (1878) - Adolph Von Menzel

“#Bitcoin always seems impossible until it's done.”

-Nelson Mandela

Europe is at the end of its civilization cycle.

European Bitcoiners know only #Bitcoin can renew its greatness.

#Bitcoin art:

Nanna (1861) - Anselm Feuerbach

Rome's decline:

1- Centralisation

2- Increased spending

3- Debasement

4- Exponential increase in spending

5- Exponential debasement

6- Economic & social collapse

The productive forces unleashed by the Industrial Revolution are minuscule compared to the productive forces unleashed by the #Bitcoin Revolution.

All great civilisations started with a small government...

Freedom as Competitive Advantage

I wrote before about the similarities between El Salvador today and 17th century the Netherlands (when it was about to enter its Golden Age).

One thing I didn’t mention is how both countries use(d) freedom as a competitive advantage.

Or in the words of El Salvador’s president:

“The plan is simple. As the world falls into tyranny, we’ll create a haven of freedom.”

-Nayib Bukele

Freedom as a way to attract capital and talent

By calling it “the plan” we know Mr. Bukele doesn’t (only) want to create a “haven of freedom” purely for humanitarian reasons.

It is actually a clever geopolitical strategy that is aimed to strengthen El Salvador’s industrial and intellectual base.

He uses freedom to attract the world’s most mobile capital (Bitcoin) and attract the smartest and most skilled talent (the Bitcoin space employs a lot of smart people).

And looking at history, we can see there is good precedent for his moves…

A haven of freedom in the 17th century

The Netherlands rose to superpower status in the 17th century. I wrote before about several catalysts causing this rise.

Another important one was that in the 17th century the Netherlands was “a haven of freedom” and attracted people fleeing tyranny and persecution in places like Spain and France.

People who took their capital and skills with them…

The Spanish Inquisition in southern Netherlands

An important wave of capital and skills came from the southern Netherlands (present-day Belgium) which was under Spanish rule at the time.

When the protestant Netherlands started its war of independence against Catholic Spain, Spain retaliated with the persecution of protestants in the south (the infamous Spanish Inquisition).

As a result many protestants fled to the northern provinces where they were free of persecution.

Many of these immigrants were skilled craftsmen in the fields of printing, textile manufacturing, arts or brought the trading contacts they had made in the port of Antwerp.

They significantly strengthened the industrial and cultural base of the Netherlands.

Influx of Sephardic Jews

In the 16th century the Spanish and Portuguese monarchs signed decrees forcing Jews to either convert to Catholicism or be expelled.

Some converted, while others chose to flee. A large portion ended up in the city of Amsterdam in the Netherlands.

These Sephardic Jews also brought their trade networks (especially in the Mediterranean) and had significant experience in banking, money lending and financial transactions.

It is not surprising Amsterdam became the financial capital of the world…

They also brought knowledge and texts from Spain, Portugal and the broader Mediterranean region about medicine and science.

Both are areas the Netherlands excelled at during its Golden Age.

France prosecuting the Huguenots

France witnessed a series of religious conflicts in the 16th and 17th centuries between Protestants (Huguenots) and Catholics.

As a result many Huguenots fled France, and many ended up in the Netherlands.

They brought crafts like silk waving, clock-making, and metalwork. And like the other migrant groups they also brought their trade and banking networks.

The Huguenots also valued education and scholarship. Many were highly educated and contributed to Dutch intellectual life, including theology, philosophy, and science.

Freedom as a competitive advantage

The history of the Netherlands shows that being “a haven of freedom” yields significant long-term results.

It takes a long time for a country to build capital and skills from scratch. Attracting them from other countries is a clever way to speed up this process.

Just ask Deng Diaopeng’s China…

Nayib Bukele understands this and uses freedom to attract skills and capital to El Salvador.

The Innovation and Technology Manufacturing Incentives Act and the Freedom Visa Program are good examples of this, making it attractive for skills and capital to move to El Salvador.

Mr. Bukele is making El Salvador an attractive place for companies and skilled individuals to settle and help build the technology and industrial base that will provide El Salvador prosperity for decades to come.

Debt-based growth means we consume scarce resources now at the expense of later...

Warring States Period:

Falling dynasty: USD

Warring factions: BRICS currencies

New dynasty: #Bitcoin

The only vision & strategy of the enemies of revolutionary 🇫🇷 France was to preserve the status-quo, of which they grew fat.

#Bitcoin's Cantillon enemies also defend the status quo because it allows them to grow fat.

America was so de-centralised that it didn't matter if the 🇬🇧British captured a town.

🇬🇧Britain had to capture all towns in a territory and keep it occupied b/c as soon as they left the colonists took over again.

This is the power of de-centralisation.

#Bitcoin

#Bitcoin art:

A View through Three of the North-Western Arches of the Third Storey of the Coliseum (1815) - Christoffer Wilhelm Eckersberg

The gold-standard was an IMPERFECT tool to check governments unproductive over-reach & resulted in amazing civilisational advancements every time it was dominant.

Now we have the PERFECT tool.

#Bitcoin

"Stand a little less between me and #Bitcoin."

-Diogenes