“Same, but different”
Although Trump recently popularized the term “Drain the Samp,” his execution and approach were flawed.
Politicians in the United States have been viewed negatively over the past few decades. The problem is that our people have become so sensitive to this way of thinking that nothing is done to correct the situation. Nihilism has been co-opted up to the level of jurisprudence.
How common is it in your discussions with family, friends and peers to refer to our political leaders as liars or to say whatever it takes to get your vote? It is common among my peers; I would imagine it is no different for you. Why?
Consider for a moment the incentive of a person to run for a political office. What are the benefits? Okay, pretty obvious: you can choose what happens by your necessary or justifiable law with some input from your selectors (if you want to consider their point of view). But there are also second-order benefits, such as pensions that are guaranteed after they expire. Or my personal favorite: voting on policy (like the recent infrastructure bill) and specifically how the state (referring to the entire U.S. government) spends and allocates funds earned by tax revenue or money printing.
Since 200 we have seen a butt-load of money printing. It is recorded here as M1 funding by the Fed. The Fed itself explains that the definition of M1 can be changed arbitrarily. From bailing bankers in 200 all (and then not prosecuting the person actually responsible) to printing about 0% of the dollar supply for all this money to finance the economic shutdown) an attempt to stem the spread of the virus. It does not take into account the predominance of systemic issues in our infrastructure, but is not limited to: civil rights, public health, healthcare, student loans, social security, pensions, and then the so-called “perpetual war” of America. Since then (and really, for the whole life of our country).
This is why I am proposing; Politics and government are inseparably married to the Federal Reserve. The Fed has gradually become the only recourse in the United States and a supporter of the petrodollar. And the worst part is that this bank account can express dollars from thin air through zero effort.
Fix the incentive mechanism
Trump’s correct idea was: “Drain the swamp.” You have no idea how hard it is for me to say this because as a human being I find him a deplo deplorable. But that shouldn’t stop anyone from agreeing with anyone’s point of view. Unfortunately he did not have the foresight or clarity of mind to see an important truth: if we do not change the incentive structure, it does not matter who we replace the current leadership with.
In addition, if we do not fix the money, today’s problems will reappear in the future.
We need to face this problem today. We need an improved currency today. In today’s environment no cultural or conflicting revolution can do anything if we do not address the issue of motivation.
This problem is not only within the Federal Reserve, it is also due to the lobbying relationship in Washington that I touched on in my previous article. This relationship allows outside parties to persuade, investigate, and influence politicians to legislate that could benefit a particular entity or industry (perhaps for a small fee or kickback, we can guess).
The Bitcoin resource and the Bitcoin network continue to show our world how much we need it.
Our leaders continue to show how much money we need that is not within their reach.
Moreover, our leaders and those closest to the money printer not only show their incompetence when it comes to money management, but also the speed of music is declining and the number of chairs to claim is also increasing.
If the United States does not take important steps: 1.) Take humility and acknowledge that there is a need to know about this world-changing resource, 2.) Take steps to learn from respected and knowledgeable members of the Bitcoin community, and, last but not least, , 3.) Consider that perhaps our world can be better with a financial resource and policy that is not subject to human greed or fall.
It’s not that Bitcoin is a fantastic risk-return investment, it’s that Bitcoin is a basic requirement.
This is a guest post by Mike Hobart. The opinions expressed are entirely their own and BTC, Inc. Bitcoin Magazine.