Depends on the person. Generally I use the analogy of gold, and how money used to represent the energy to produce gold (i.e. the labor involved in gold mining). I explain to them that once this link was fully severed in 1971, those close to the fiat printing press have accumulated wealth at the expense of those furthest away from it. Bitcoin is not just created by pressing a button, as todays currencies are, but are created through energy, and one needs to show they have “worked” to mine it or they have had to pay someone else to get it. I also explain that bitcoin is superior to gold backed money as there, unlike gold, is a verifiable supply of it and it can be passed censorship free without permission to anyone in the world with an internet connection virtually cost less and which clears in just a few minutes.
Most of my friends are in their 40s and 50s and they only know the world of fiat. It is hard to change their minds as our brains get less plastic as one gets older. But this explanation often works.
JFK. He had his faults, sure. But he believed strongly in world peace, and a less antagonistic and militaristic foreign policy. His 1963 speech at the American University is my favorite speech of all time (called today the “Peace” Speech). I think he was ultimately killed because of his foreign policy ideals by the war mongers who ran the government then, and who run it now.
Getting someone from the point of thinking it is a scam to understanding bitcoin is the best money ever created.
As much as I personally abhor war and vote libertarian because of it, I’m always outvoted by the populace who elects leaders who want to dominate the world through violence or the threat of violence. Perhaps it is just human nature-those with the biggest stick always seem to want to use it to secure more resources.
If the President made an executive order that all wages were doubled tomorrow, companies would not be able to double their prices to keep profit margins, as there wouldn’t be enough money to buy the products at those prices. So companies would have to cut their workforces by 50% to bing total wages back in harmony with the quantity of money. Simplistic example here but I think you are 100% right-wage increases don’t cause inflation but are the result of it.
What is even more amazing is that between 1800 and the first decade or two of the 20th century, the purchasing value of the USD stayed about the same. Virtually all of that dollar depreciation happened in the last 100 years.
I wonder why? (Hint: the Federal Reserve was created in 1913.)
Sometimes if you are working within the system you don’t know that it is corrupt.
“Warren Buffett buys his first bitcoin for $500,000 at the age of 98.”
Twitters algorithms are very good at preventing people from taking the Purple Pill.
NO CENSORSHIP!
Direct video link for those that refuse to get the mark of the beast:
https://video.twimg.com/amplify_video/1675449879953326080/vid/854x480/i0k1gY9-llgdcw1C.mp4?tag=14
That was an incredible video
Thank God we have legit journalist like Max Blumenthal doing the work that the mainstream won’t. He found the receipts. Our government can only be described as evil. Using fear and war to extort American citizens of their hard earned money and then funneling it special interests. https://twitter.com/martybent/status/1675492828623847424?s=46&t=wcOMSJrsxwOwwoDecRZbUA
I love how no one (including me) can’t use that link because they deleted Twitter.
Excellent post. I think Jerome Powell is probably a good man with integrity and I’m sure he thinks he is helping society.
But the structure of the system is fundamentally corrupt as it allows a small group of humans with the extraordinary power to create money (without work) and decide on the price of that money. It always ends up
transferring wealth disproportionately to those already powerful and wealthy.
Yes, but the times they are a changin’
Right. Thoreau literature would be labeled misinformation.
Some weeks ago I was reading Thoreau's "On the Duty of Civil Disobedience" aloud at bed-time to my son, who of course does not understand it but appreciates the sound of the words all the same, when I discovered that its famous title was in fact not the original! The original title was significantly more radical: "Resistance to Civil Government."
It's quite short, and I would encourage everyone here to read (or re-read) it. It is still tremendously relevant. Re-reading it with the original (un-sanitized) title in mind, it lands even harder.
These days, Thoreau would probably get his door kicked in.
Here's a free link to the Project Gutenberg copy: https://www.gutenberg.org/files/71/71-h/71-h.htm
Share your favorite quotes, after reading.
Will do. Thanks.