"Hutchinson, referring to the temptation to trustees, says: "The influence which a bad currency has on the morals of a people is greater than is generally imagined. Numbers of schemes for public and private emissions were proposed as remedies. The only effectual one, the utter abolition of the bills, was omitted.'" W.G. Sumner, "A History of American Currency" (1874), p. 24.
"In 1720 trade was stagnant, and there was a great cry for more bills. Let it be observed how this complaint is heard again, every four or five years, although the amount of paper was continually increasing. It is the best instance in history of the way in which a country "grows up" to any amount of currency. Here was a sparse population in a new country with untouched resources, and it seemed to them necessary to have recourse to artificial issues of currency to "make business brisk;" to get up enterprises for the sake of "making work;" and to lay bounties on products in order to enable the people to carry on production. The distress was real, but it came from turning their backs on what nature offered them gratuitously, and violating the laws by which they might have profited by these gifts." W.G. Sumner, "A History of American Currency" (1874), p. 23.
We are in a black hole of violation.
"In 1709 the time for redemption was set at 4 years; in 1710 at 5 years; in 1711 at 6 years; this injured the credit of the bills at the same time that they became redundant. The depreciation now began. The paper was legal tender, it's acceptance being enforced from time to time by more and more stringent enactments." W.G. Sumner, "A History of American Currency" (1874), p. 17.
Fwd to 2023 and CBDC's.
The US war department has over a century of strategy built on its social experiments conducted on Native American reservations in this country. The fact that their history coincides with an increasingly myopic and dystopian worldview is both liberating to understand and hard to ignore as we face impending economic slavery and complete destruction of our livelihoods.
"In 1640, Winthrop tells how the merchants came and drained off the people's cash. That he should not have understood the case is not strange, but from the experience of two centuries and a half, and the teachings of science, any better than to repeat the same theory, is astonishing." William G. Sumner, "A History of American Currency" (1874), p. 8.
We are legitimately insane.
Bitcoin fixes (part of) this.
"The losses occasioned by a bad currency far exceed the gains from imported commodities." William G. Sumner, "A History of American Currency" (1874), p. 6.
And consequently __________.
Bitcoin"ers" understand the banking system. They may not be capable of running a node but they do understand the flaws in our current banking/fiat/credit practices.
Bitcoin regulates itself.
Bank runs, bailouts and bitcoin with Caitlin Long…
https://www.whatbitcoindid.com/podcast/bank-runs-bailouts-bitcoin
Enjoyed this - glad to see her 😌
The American education system has evolved into a scam. Teachers should feel confident that their lives are more valuable than having to undo (or give hope to) the poverty and moral degradation in our children as a result of the fiat/credit system enforced on their parents. All that is in their control is to provide a safe haven against the insanity flowing through this country while enduring it individually. They are not wrong, they should not be blamed; the system is rigged in favor of those who enslave parents. If we were living in a free market the idea that we can brainwash children into using our methods would have died out centuries ago.
There's nobody left. These should be considered crimes of genocide.
Imagine trying to recreate the bitcoin network with every other talent/resource available
just to enhance the catastrophic fiat network
and field the delusions that it's created in the masses
in order to cement a progressively and compounding losing profit for the next 3000 years
The best advice I heard was to give as much of your time to help others. Learn as much as you can for others, give freely whatever you can, and you will discover rewards in bitcoin. The entire system relies on people determining the most creative ways to incorporate it into their daily lives. So, even if you can't stack sats every day/week, you can read about it, share it, etc. I believe you can earn sats for reading articles about bitcoin too...