4 ms·
The powers that be will not give up their monopoly not he issuance of currency lightly. Classifying crypto as an asset rather than a currency was the first ste
by Consultant32452 5y ago
The powers that be will not give up their monopoly not he issuance of currency lightly. Classifying crypto as an asset rather than a currency was the first step. The hand will squeeze tighter and tighter.
- pessimizer 5y agoThey won't give it up at all, because there's absolutely no reason for them to. The reason they have this power is because they wield force legitimately, not because fiat is special.
- Consultant32452 5y agoOur nation's ideological self-segregation is proceeding nicely. I don't want to argue with you or change your mind, but I don't want to share a country with you either.
- MrMan 5y agoThere is no such thing as a country, just a lot of trustless interactions between sovereign mafias
- bingbong70 5y agoA private organization (central bank) having a monopoly on printing and lending money to your government is acting "legitimately"? Many that have studied this system would disagree.
- dred_prte_rbrts 5y agoWhere did you get the assertion that a central bank is a private organization? What evidence do you have for that?
- MrMan 5y agoThe us central bank was chartered as an independent entity because policy makers here felt that having the central bank be embedded in the ex3cutive tended to inevitably corrupt the central banks decisions and led to crashes and devaluations and various bad politically motivated outcomes.
- bingbong70 5y agoUK and US both have private central banks. This is true for all G8 countries if I remember correctly. Most income taxes collected in the US/UK go directly to these private organizations. In many ways slavery in the US was 'abolished' in 1865 then a revised version (aka perpetual debt slavery) was adopted in 1913 at the tail end of the US-China opium trade induced economic boom and expanded by both parties in the decades that followed.