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Spaceman
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Replying to Avatar BankSith

How #CentralBanking is a #Communist Concept 😳 ✊

A central bank is an institution that has the monopoly over the issuance and regulation of money in a country. It can control the supply of money, the interest rates, and the exchange rates. It can also act as a lender of last resort to commercial banks and the government.

Central banks are supposed to maintain price stability, support economic growth, and ensure financial stability. However, they also have enormous power and influence over the economy and society, and they are often subject to political pressures and conflicts of interest.

What did Marx say about Central Banking?

In his Manifesto of the Communist Party, published in 1848, Marx listed 10 measures that he considered necessary to bring about socialism-communism. The fifth measure was:

> Centralisation of credit in the hands of the state, by means of a national bank with State capital and an exclusive monopoly. š

Marx understood that money is the lifeblood of the economy, and that by controlling money, the state could control everything else. He also wanted to replace gold and silver, which are scarce and independent forms of money, with paper money, which can be created and manipulated by the state. Marx was not a fan of the gold standard, the national debt, or the stock market. He saw them as tools of exploitation and oppression by the capitalist class. He wanted to abolish them and replace them with a central bank that would create money for the benefit of the workers and the state.

How does Central Banking undermine the Free Market and Individual Liberty?

Central banking is a communist concept because it violates the principles of the free market and individual liberty. Here are some of the ways it does so:

- It creates inflation. By increasing the supply of money, central banks reduce the purchasing power of money and erode the value of savings. Inflation is a hidden tax that benefits the government and the debtors at the expense of the savers and the creditors. It also distorts the price signals and creates artificial booms and busts in the economy.

- It enables deficit spending. By buying government bonds, central banks finance the government's spending and debt. This allows the government to spend beyond its means and avoid fiscal discipline. It also crowds out private investment and transfers wealth from the productive sector to the public sector.

- It manipulates interest rates. By setting the benchmark interest rate, central banks influence the cost of borrowing and lending in the economy. They can lower the interest rate to stimulate the economy or raise it to cool it down. However, this interferes with the natural rate of interest that reflects the time preferences and the supply and demand of loanable funds in the market. It also creates moral hazard and encourages excessive risk-taking and speculation.

- It undermines financial stability. By acting as a lender of last resort, central banks provide a safety net for commercial banks and other financial institutions. This creates moral hazard and encourages excessive leverage and risk-taking. It also creates systemic risk and contagion, as the failure of one institution can trigger a domino effect on others. Central banks can also bail out insolvent institutions and create moral hazard and zombie banks.

- It reduces individual freedom. By controlling money, central banks control the economy and society. They can influence the allocation of resources, the distribution of income, and the direction of development. They can also impose capital controls, negative interest rates, bail-ins, and other coercive measures to maintain their monopoly and power. They can also monitor and track the financial transactions and activities of individuals and businesses, and violate their privacy and property rights.

☟

Central banking is a communist concept that contradicts the ideals of capitalism and democracy. It is a system that benefits the state and the elites at the expense of the people and the market. It is a system that creates inflation, debt, instability, and tyranny. It is a system that needs to be exposed, challenged, and abolished.

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š: Karl Marx and Friedrich Engels, Manifesto of the Communist Party, Chapter II: Proletarians and Communists, ⁴.

²: Karl Marx, Capital: A Critique of Political Economy, Volume I, Part VIII: The So-called Primitive Accumulation, Chapter 31: Genesis of the Industrial Capitalist, ².

Source:

(1) Why Marx Loved Central Banks | Mises Wire. https://mises.org/wire/why-marx-loved-central-banks.

(2) Karl Marx – The Godfather of Central Banking? - Liberty Nation. https://www.libertynation.com/karl-marx-the-godfather-of-central-banking/.

(3) The Communist Manifesto - Wikipedia. https://en.wikipedia.org/wiki/The_Communist_Manifesto.

(4) Is Central Banking a Capitalist or Communist Concept?. https://www.theepochtimes.com/article/is-central-banking-a-capitalist-or-communist-concept-2-2219456.

(5) Financial System: Definition, Types, and Market Components - Investopedia. https://www.investopedia.com/terms/f/financial-system.asp.

(6) Global financial system - Wikipedia. https://en.wikipedia.org/wiki/Global_financial_system.

(7) Financial System - Overview, Components, Example. https://corporatefinanceinstitute.com/resources/wealth-management/financial-system/.

(8) Economies in the Financial Spotlight in 2021 - IMF. https://www.imf.org/en/Blogs/Articles/2021/05/06/economies-in-the-financial-spotlight-in-2021.

(9) A Brief History of Central Banks - Federal Reserve Bank of Cleveland. https://www.clevelandfed.org/publications/economic-commentary/2007/ec-20071201-a-brief-history-of-central-banks.

(10) Is Central Banking a Capitalist or Communist Concept?. https://thewillcountynews.com/install/index.php/2019/10/14/is-central-banking-a-capitalist-or-communist-concept/.

(11) The Cold War for Kids: Communism - Ducksters. https://www.ducksters.com/history/cold_war/com

Picture: Patrick SchĂźffel via Linkedin

Reject #cbdc

Learn #bitcoin

Stack #gold and #silver coins

Use #nostr

#einundzwanzig 🧡

Absolutely stupid take. Marx understand and hated the central bank, and the state taking it over is to get it out of private elite hands and back to the people. There is no free market in capitalism, just executive manipulation until evolving into pure corporate fascism, as has been proven true. "Plebian......🤡😂😎!"

Replying to Avatar atyh

I once paid to take Jordan Peterson's more in depth personality test.

While much of it was not a surprise, one aspect in particular was...

The realm of Politeness.

The Politeness in the test is not simple niceties. At its core, it is caring about what others think.

I scored 16%. Which is unusually low.

This is probably because on a normal day, I would have to work really hard to care any less what others think.

In fact, it would have to occur to me to think about it in the first place.

Some might view this as a gift. And in some ways and situations it is.

But in others, it isn't. At all.

I have actually cultivated empathy, and have worked at it. But in a way that is probably a little different. Ive tried to take the fact that I am relatively unaffected by what others think, and have tried to turn it upside down by looking for the spark of good in the people I meet, and then relating to that good, regardless of what others think.

Its sort of a hack. But it works. Most of the time.

But many people base relationships on initial vibe. And some people can feel that I am not real susceptible to peer pressure, or shame, or control, or manipulation, and they are very intimidated by it. Their immediate response is to protect themselves, before I have said a word. Even thought my intention is to see what is valuable about them. I dont take that personally now that I understand it better. I just keep looking at the good and keep trying to relate to that regardless.

My wife, courageous woman that she is, is exactly the opposite. She scored unusually high on the Politeness scale. As you can imagine, this contrast has led to he both laughing hysterically, and being utterly horrified by what I have said to people at times. But in this relationship, I have discovered another unusual superpower associated with this defect... I can look her in the eyes, and tell her I love her and mean it, regardless if what is going on. Because I choose my emotions. No one else does.

This weird ability to laser love is one that I cherish as I have come to understand it better. I use it now, when I am out in the world. When I can sense that someone has been hearing nothing but bullshit from other people for too long, I use my sharp tongue, and lack of caring what those other people think, to send a missile of encouragement through all that bull shit. It has become one of my very favorite things in the world to do. And the response is sometimes astonishing.

Try it sometime. When you see that person struggling. Dont worry about being polite, dont worry about causing a scene, or what people might think... just SAY IT. Say the good. Say the loving thing. Give the negativity of the world a held high middle finger, and speak life to people who need it. Which is often everyone.

Give that grace like a weapon against bullshit. Besides. What you give accumulates and comes back to you. And if you have a tendency to say some of the other things that come out of my mouth sometimes, youre going to need all the grace coming back to you that you can get.

Ha! I don't think anyone has read beyond the first line. As that is so hilarious, one would be laughing to hard to continue. 😂🤡😎

It is a complete scam for the working class. It is a still a delightful social networking carnival, and way to meet mating partners, for the ruling class.

Couldn't it be that middle aged people don't really rage so hard? Aren't aggressive, powerful rock bands for young people?

I agree. This is why i am baffled by Bitcoiners getting all giddy when any politician, ALL who are simply pawns of the central banks, says anything like "Bitcoin is freedom money!"

Replying to Avatar atyh

Its really starting to sink it for me, that there is a globalist force, which is as evil as the Nazi's as deceptive as the Stalinists, and as murderous as the regime of Mao.

And its centered smack dab in the United Nations, the WEF, the WHO, and the IMF.

These people are not 'misled bureaucrats' any more than high level Nazis were.

This isnt a game anymore, and these people are evil.

They fund campaigns to place their agents, they use blackmail merchants like Epstein to control the uncooperative, and use Intelligence or Drug Cartel to remove those who wont. They subvert elections, and fund local races to gain control at local levels. They have sophisticated weapons like immigration, drugs, targeted violence groups, and financial leverage. But their favorite weapon is creating a crisis, offering themselves as the only solution, and taking more of your sovereignty every time.

No nation is going to fight this effectively. Every nation will be fragmented in its desire to fight this, or just go along with it. So the primary front against this force is YOU. And me.

We have to become a peculiar generation. We are fighting in a war, the likes of which the world has never really seen before. We need to learn how to identify the pillars which this Globalist ideal needs in place to achieve its goals, and we need to so thoroughly fuck those pillars up that they keep needing to reformulate their plans and become more and more exposed every time they do.

Undermine their ability to control communication and information.

Undermine their ability to control the money.

Undermine their ability to control food, water, power, shelter, health, medicine.

Undermiine their ability to influence your relationships.

Undermine their ability to surveil and predict.

Undermine their ability to have a total monopoly on violence.

You dont have to become a revolutionary on the outside. You can go to work, pay your taxes, take vacations, and smile. But inside, you are learning, and pushing their control structures out of your own life, then the lives of others, and then...

The new cold war is the People against the Globalist.

How is private property created again?

Words cannot be violence? You don't believe verbal assault is a key component of psychological abuse?

Replying to Avatar Dylan LeClair

Bitcoin Accelerationism.

Bicoin Accelerationism embodies all that Effective Accelerationism (e/acc) represents, yet it posits that Bitcoin is crucial in ushering in this future. Let’s explore:

First, let’s break down what e/acc stands for, and why bitcoin is inevitably intertwined in this technological movement.

Effective Accelerationism posits that the universe inherently aims to optimize itself, constantly expanding and evolving. This expansion is seen as an unstoppable force, with the future always building upon and surpassing the present, and the main driver of this is ‘techno-capital’. Said more simply, ‘techno-capital’ is the force which will change/fix the world.

Now, let’s turn to bitcoin:

Similar to AI, bitcoin mining faces never ending scrutiny regarding its “energy use”. In reality, mining serves as a pivotal tool for energy grid load-balancing and waste energy mitigation. It's one of the only consumers of energy that can power off on a moments notice entirely subject to market demand.

By empowering location agnostic energy monetization while enforcing ever increasing efficiency through the difficulty adjustment, bitcoin mining doesn't waste energy, but rather consumes energy waste. With the brutal reality of continuously rising network hash rate subsequently increasing mining difficulty, inefficient operators are driven out via market forces, while the increased difficulty simultaneously reinforces the asset’s supply inelasticity and programmatically increasing marginal cost of production.

The significance? There is now a global opportunity cost for energy waste that exists anywhere found by satellite signal, thereby directly incentivizing and quantifying the chase of Moore's Law AND the ascent of the Kardashev scale.

Bitcoin adheres to e/acc principles, and metaphorically aligns with the natural order and thermodynamic laws, by adeptly transforming forms of energy into an immutable ledger of subjective value.

Its 21,000,000 capped supply mirrors the finite energy in closed systems, a nod to the conservation law. Bitcoin mining, which channels raw energy into computation, goes to securing and extending property rights to $800b of pseudonymous global wealth. The process of elegantly converting energy in any form into an immutable ledger of absolute monetary scarcity brings about order from entropy.

Do not shy away from energy production nor energy consumption. Bitcoin's Proof of Work is not a weakness, but an absolute source of strength. Lean in.

As a store of value, bitcoin epitomizes a free market for capital, underpinned by the energy securing it, SHA-256 cryptography, and a global consensus of distributed nodes, each user acting in their own self-interest. The key principle is that value is not derived by decree, but rather subjectively by self preserving individuals through economic incentives.

As a unit of account, bitcoin is the ruler against which the vast technological gains of past and future decades will be quantified and measured against most accurately, given its attributes and free market emergence.

In contrast, political currency, issued by increasingly corrupted institutions, will continue to devalue against everything we hold dear; fundamentally incompatible with a future where AI brings about abundance through the reduction in the cost of everyday services.

This contrast between two opposing forces has never been more evident, with tech advances accelerating by day while the issuance of additional political currency aims to offset said deflationary gains to keep an evermore fragile and faltering system of debt and IOUs from collapsing under its own weight.

As censorship-resistant money, bitcoin is pivotal for a future where censorship and surveillance by the state and/or techno-monopolies are more powerful and potentially oppressive than ever.

As a bearer asset, bitcoin stands out as one of the few possessions that can be truly owned in a digital native world riddled with third party custodians and counterparties. Possession can be custodied literally in one's mind, not as the liability of a captured and corrupted institution operating under the long-reach of the state.

Lastly, it is an inevitable reality that all monetary mediums compete in perpetuity, and the Darwinian process of a free market monetary medium monetizing from scratch, not by decree but by free market forces, has only occurred successfully a rare few times in human history, and never with the speed or global scale currently underway.

Bitcoin Accelerationism is an acknowledgment of this all; the growing surveillance apparatus of the state, the attempt to restrict and reduce global energy production/consumption, and the precarious position of the global political currency experiment that threatens to undermine the past and present gains brought about by technological innovation. In e/acc terms, bitcoin is THE capital in ‘techno-capital’.

In a world where the very medium in which we store our time, labor, and value is led by individuals more interested in looting the coffers than in the long-term health or vitality of our society, it’s time to lean in.

Bitcoin Accelerationism is about embracing this reality. No force on earth can stop an idea whose time has come.

We will not apologize, reconsider, slow down, or reverse course. Instead,

ACCELERATE.

How is private property created again?

You are not Plebs or revolutionaries. You are obtuse traders. Digital Nomads are Digital Colonizers. And the locals HATE you deeply. Have two monitors? You are a Normie Trader. Go look at some charts. We will work.