by Fabian Augustus
December 15, 2020
What are the rich and powerful thinking? Why are they hoarding more money than could be spent in their lifetimes or the lifetimes of generations of their ancestors. In my humble opinion, those centralized forces (wealthy individuals like Bezos, wealthy banks like JP Morgan and wealthy politicians like Pelosi and McConnell) that control the dollar are showing one or more of the following traits: Stupidity, ignorance or obsessively, blinding greed. Secondly, why are so many Americans exhibiting these same traits to their own detriment? In this post, I will discuss the first of these traits "Stupidity", which allows for the theft of most people's money, investments, blood, sweat and tears... Something that is becoming more apparent as being by design.
Stupidity describes what they are doing to the dollar by printing so much it loses value with every passing moment. The majority of the population don't seem to understand that watering down the supply of dollars makes it more and more useless. For Americans every dollar in their bank, mattress or pocket has she'd value for decades. To shed light on this truth, let me use the game of "Monopoly". If you are playing with four players but one of the four players has the ability to create as much Monopoly money as he or she wants, the Monopoly money in the other three player's possession becomes worth less with every bill introduced by the money printing player: if the money printing player rolls a bad number on the dice (or a bank makes bad investments in the real world) and lands on "Broadway" or "Park Place" they can simply add more money to their pile, pay the penalty for landing on the other player's properties and print even more money for themselves. In the real world, banks make risky bets that fail and the public bails them out by giving them money to cover their losses or more recently, the Federal Reserve prints dollars out of thin air, buying out said banks risky and failing bets. In other words the "Market" (or rules of Monopoly) no longer dictate how the game is played. Put another way, If I could go to a casino and lose all of my money only to have my money magically replenished by the same casino, I would move to Vegas immediately. The real world problem with this scenario is that every casino owner would ban me from entering their establishment. This This is of course a simplified explanation, but it still begs the question "Why haven't the citizens of America done or tried to do what my hypothetical casino owner would have done to stop the one-sided gambling which dictates that if I win, I win and if I lose, I still win? Unfortunately, I've never been bailed out in such a manner. Have you?
So, it is quite stupid to allow the banks and other wealthy entities to get richer while all other people get poorer, especially during a PANDEMIC! When you allow people to be evicted, businesses to be shuttered and the majority to starve, there will be some kind of fallout. This however is where Capitalism leads when governed by centralized authorities, because it demands endless growth with death being the final penalty, whether an individual a charity or a small business.
The irony (for me) is that the worst impacts of the depression we currently face could have been avoided as detailed in the book. Solutions where I reference Bitcoin as a means to secure one's future (a short but honest mention).
In the next post, I will discuss the ignorance about how fiat currencies impoverish the majority and why Bitcoin and other cryptocurrencies promise an equality never seen in human history.