How the US government will be overthrown ... again
Money is the root of all evil and the same can be said about a new cryptocurrency-driven economy. Bitcoin and its ilk are being leveraged to undermine the dollar, along with the full faith and credit of the United States government, effectively sliding wealth quietly out from under unsuspecting capitalists. But at the end of the day all forms of money are just stand-ins for privilege, which is the boiled-down meaning of wealth and greed.
The privileged class makes policy as it always had, and keeps the dangerous class -- those who might threaten to dethrone them -- with less stature and standing.
If the the US Treasury and the Federal Reserve lose the ability to affect monetary policy, then the power to regulate the economy, for the current players, at least, will evaporate.
As we were reminded in 2007, speculative markets have a jaw-dropping impact on the economy, but have long been the domain of fund owners, stockholders and trading agents, to the exclusion of the workforce -- those who actually produce wealth through the making of goods & services -- and the consumer market, which is drawn from and supported by the former.
We are seeing a fluid shift in influencers who hold the lion's share of power and privilege on our soil and across the earth. I predict the total collapse of the US dollar as the measure of wealth and privilege on a global scale. But they are the sham power brokers; the only reason they have any real power is through smoke and mirrors.
Since before the turn of the century, speculative markets have been glamourized to the extent that it was commonplace for grocery store clerks, cops and factory workers to trade stocks and bonds as a means to improve their situations. And through frugal, thoughtful investments many did ... right up until the fall of 1929, the period when paper wealth disintegrated.
But this lesson in smart money has been lost to history through a terrible education system that either mischaracterized or misunderstood the Wall Street Crash.
My suggestion to working folks is to run fast from cryptocurrency and blockchain-based instruments and focus on using your earnings to maintain material needs. I have said many ways that true wealth is owning property and possessing means, knowledge and skill as consideration for goods and services.
If you're one of the lucky ones who's ignorance is bliss, and you don't concern yourself with the prospects of the US Dollar as a going concern, then let me caution you away from the facts:
- The national debt as of this writing is $29 trillion, 140% of total GDP
- The government created from thin air enough money to quadruple the money supply in the last two decades, from less than $5 trillion to $21 trillion
- Federal revenue from individual taxes, payroll taxes, corporate taxes and tariffs is shrinking at an alarming rate
