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Issue #512: Systemic risk, not ideal

Issue #512: Systemic risk, not ideal

Jun 25, 2019
Marty's Ƀent

Issue #512: Systemic risk, not ideal

We live in a world filled with distortions. As a society, we've become disconnected from reality in so many ways that it's hard to keep track of at this point. GDP is growing, the stock market is at all-time highs, unemployment is at its lowest point in a while, and inflation is "subdued" in the range that is arbitrarily acceptable for the Fed. Yet, we live in an age in which it is impossible for one parent to provide for a household, the average American cannot afford a $400 emergency expense without going into debt, opioid addiction is ravaging parts of the country, and suicide rates are at all-time highs.

Despite what the metrics that define "success" in this country say, all is not well. And this is due to the fact that we have allowed central banks destroy our markets via the distortion of the money supply, which benefits those closest to the spigot of money creation at the peril of those furthest away from it. By letting the banks off the hook in 2008 via bailouts and easy money, the Fed pulled off the biggest redistribution of wealth this country has ever seen. The banks were able to consolidate, take the homes of millions of people they gave bad loans to, and reap the benefits of paper wealth exacerbated by close to a decade of easy monetary policy.

All the while, we plebs have been subjected to obscene inflation of healthcare, education, and housing, which has made medicine, schooling and rent more expensive than it has ever been. Health, education, and shelter are three of the most important pillars of a healthy society, aren't they? The average American has been priced out of these (now) luxuries, and it is making people pretty fucking angry.

As a result, we're seeing a crescendo of calls for people like Bernie Sanders, Elizabeth Warren, or Andrew Yang to come save the day by abolishing our student debt, making healthcare free for all, or just straight up giving everyone $1,000 every month (lol). Of course, these are not antidotes to our current ills which stem from terribly unsound monetary policy, but pandering policies that will do well to quell the people for some time. But make no mistake, these policies are nothing more than pipedream promises that can never be fulfilled in a truly free society as they would force even more overt redistribution of capital.

It seems as though we find ourselves in a hellish cycle. We find ourselves living in a time when the people at the bottom of the totem pole feel (justifiably) shafted by the system and are more than ready to get what they deem they deserve in the form of handouts. What no one seems to realize is that handouts are what have put us in this precarious situation to begin with. Handing out debt and promising future production that may never come. This is solely enabled by the ability to print money at will. More of it will lead to more misery in my honest opinion. Even if it's being redistributed to the plebs.

What our modern condition demands is some semblance of sanity of monetary policy on a global stage. Bitcoin provides this. No matter how loud neoliberal keyensians scream to the contrary.

Final thought...

Mac is a pretty dope name.


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