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0 sats \ 4 replies \ @daolin 4h \ parent \ on: Who stands for FREEDOM? BooksAndArticles
Bitcoin is a game-changer. It's never been done on a large scale because we didn't have Bitcoin. The state's monopoly on violence is over.
Previously there were bank notes issued by private banks and backed by gold.
Since WW1 fiat money increasingly replaced gold backed bank notes with the final straw when Nixon removed all remaining gold redemption ability for USD.
Since then debasement and inflation firstly in consumer goods and later in asset prices has distorted the economy and reduced the competitiveness of western economies.
Chinas incredible economic revolution using state direction of capital but allowing some competition and private enterprise has resulted in China beating the wests crony capitalists at their own game.
Neoliberal banksters have captured and corrupted western politics owning most major parties via patronage and lobbying.
Bitcoin does provide an alternative to the state imposed fiat debt slavery but whether it can achieve widespread adoption for MoE remains to be seen- its not looking likely with bankers now capturing a growing portion of Bitcoin issuance for use as a speculative commodity. Nearly all governments have obstructed Bitcoin MoE in west via subtle but effective tax impositions and in most of the rest of the world via outright bans on MoE use.
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It doesn't look very revolutionary from the outside. It kind of looks like they simply eased up on the statism, and then the economy did what all economies do when the state leaves the private sector alone instead of micromanaging every plot of farmland.
Widespread adoption is a meme. It was never designed to benefit everyone equally. It benefits only the entities who act with rational self-interest. The individual who bought it for $50,000 is happy. Bitcoin works for that guy. If the German government doesn't want any, they don't have to buy it. It's all voluntary.
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Wrong.
China experienced what western imperialism does to all others.
And they learned from it.
Because Chinese culture has for millennia been the dominant culture, economy and government of their region they have a belief in their role as the centre of the world.
That belief was severely challenged from the Opium Wars and the following 100 years, but since regaining self determination after WW2 China has gradually adopted a stance that recognises westerm imperialism and makes possible China determining its future without the hegemony of western powers over riding Chinas self determination.
Their current economic program is revolutionary in that it does not operate subservient to western imperial dictates- it organises Chinese capital and labour to produce goods and services in a very competitive manner by maximising Chinas natural advantages of manpower, scale and geographic positioning.
China rejected the patronising 'help' of western power and determined its own development is best advanced with a mixed economy where the government provides strategic leadership while Chinese entrepreneurs are able to operate and compete as long as they do not start to exercise undue market dominance or influence- ask Jack Ma what happens if you do.
The west used to operate in a similar manner- regulating and limiting anti competitive rentseeking by corporates- until the corporate bought and owned the politicians and came to direct the governments.
In China the government directs capital allocation toward productive purposes and infrastructure- their now global infrastructure construction capability is unsurpassed. Decadent neoliberalised Britain can no longer build its own nuclear power station- it contracts Chinese engineers working with French to construct Britains first new nuclear power generator in more than 30 years.
The west led industrialisation but crony capitalism has taken over with wests politicians now nominees from banks and corporate interests- in China in contrast the politburo is composed of over 70% trained engineers- building a global empire that is beating the wests decaying crony capitalist economies.
USA has had 60 years of trade deficits and fiscal deficits- China enjoys annual trade surpluses of over $1 Trillion and growing.
The mixed economy was what delivered the best results for the west and now China has adopted that model to its advantage.
Corrupt neoliberal west is ruled by wealthy capital and is in decay.
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I promise you central planning or a mix of central planning isn't what made the West rich. Whenever any state attempts to manage capital, it means someone is taking a cut of what someone else produced, or someone is dictating to someone else what to produce. The parts of the West in the worst states of decay are those that trusted their governments to manage the economy. The richest countries in 2100 will be whichever ones adopted Bitcoin first, because that alone is a dismantling of state influence.
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