In Jackson Hole, the annual Mecca of central bankers, Jerome Powell spoke yesterday on August 23, 2024.
Worryingly, all eyes were on Jackson Hole to hear Jerome Powell speak.
Worrying because Bitcoin is here to liberate us from this flawed monetary and financial system in which the Fed reigns supreme and imposes its unfair rules of the game on us.
The rules of the game keep changing at the whim of Jerome Powell and his central banker friends around the world. What's worse is that these central bankers who rule the world are not even representative of the people!
The fact that all these pseudo-Bitcoiners are waiting so impatiently for Jerome Powell's speeches clearly shows us where their interest lies with Bitcoin: on the side of speculation.
Jerome Powell gave a dovish speech:
- “The time has come to adjust our policy.”
- “There is no point in seeing the labor market slow further.”
- “I'm increasingly convinced that inflation will hit 2%.”
Quickly, the price of Bitcoin in weak money began to take off taking +5% in a few hours.
Has what Bitcoin brings changed within hours of Jerome Powell's speech? Is Bitcoin better off after this speech?
Pseudo-Bitcoiners on social networks began posting memes with “Brrrr” or other messages filled with joy as the Fed's destructive machine was about to get going again: that of out-of-thin-air money printing ad infinitum.
My question: Should we rejoice in the fact that US debt will continue to explode in the weeks, months, and years ahead, heading towards $40T?
Should we rejoice that the price of Bitcoin in weak money is exploding because of this flawed and not fixable system, while at the same time putting tens of millions of people through their paces?
I don't think so.
Bitcoin is here to free us from this flawed system. Let's stop watching what the Fed is doing and move the battle to a more level playing field for humanity: that of the Bitcoin system.
Let the central bankers argue amongst themselves and continue to make things worse, while promoting the Bitcoin system for the right reasons.
These good reasons are certainly not the speculation that Wall Street wants to impose on us.
The purpose of Bitcoin is to offer everyone a superior alternative to the current system. A fairer alternative. For this alternative to continue to emerge, the real battle is that of Bitcoin as the MoE of everyday life.
Let's build together a circular economy based on the Bitcoin system. This is the key to a better future for the greatest number of people, thanks to Bitcoin.
SPEND and REPLACE your BITCOIN is the NEW HODLING.
Remember this slogan and push it whenever you can. Forget speculation and concentrate on education.
It's up to you not to let financial giants like BlackRock rob us of the true meaning of the Bitcoin revolution.