Good day all,
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I will start my blog by posting the oft mis quoted quip by George Santayana, "(Those who cannot remember their past) Those Who Forget Their History Are Condemned to Repeat It!" And today we are faced with the prospect of continuing down the road of fiat domination of cryptocurrency (and everything else worldwide).
We see it in the global crypto market cap, today, $2.64 Trillion "dollars" from CoinMarketCap. We also see the "greed factor" up to 83% (extreme). However, does anyone stop to consider what this GREED factor actually represents? Or, do we just skim it and go on to see where ($) btc or eth are at, and/or our favorite crypto projects, too. They're all UP ($) today, we are happy. More and more people, worldwide, are "banking" on crypto. We all want to make our first million, like the investor/trader who made it in 15 minutes or the friend who made it by buying and selling meme coins/tokens. So who are the winners/losers in this continuing profit/loss "banking" system of $2.64 Trillion "dollars"? Let's look at a statement attributed to Satoshi Nakamoto (anonymous statement from google): "Although Nakamoto remains a mysterious figure, his goal for creating cryptocurrency, in itself, was never a mystery. Simply put, he created it to take financial control back from financial elites, giving ordinary people a chance to take part in a decentralized financial system." So, exactly, how much of crypto currency is actually decentralized? How much is anonymous? Just look for instance at the recent Bitcoin and Ethereum ETFs by the BlackRock Corp and here's an enlightening Hall of Shame blog post from a couple of years ago if you don't know who Blackrock Corp is: the War/Armament/Weapons/Drugs/Everything else including Crypto now ... Corp ... https://corporateaccountability.org/blog/blackrock-for-2022-corporate-hall-of-shame/ ... The cat's outta the bag now ... BlackRock and other juggernauts are working fulltime on controlling all aspects of cryptocurrencies/money/world governments.
Now, back to banking in general and on the blockchain/ cryptocurrencies in particular ... Here's a little history on the banking industry ... From Thomas Jefferson, the 3rd President of the U.S. (from the Nation magazine) Thomas Jefferson Feared an Aristocracy of Corporations | The Nation
Thomas Jefferson warned the nation about the power of banks. He expressed his concern that banking institutions could pose a greater threat to liberties than standing armies. In his words:
“I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around these banks will deprive the people of all property until their children wake up homeless on the continent their fathers conquered.” 1
Jefferson’s foresight highlights the potential consequences of allowing private banks to wield significant influence over the nation’s currency and financial system. His words serve as a reminder to consider the balance of power and the impact of financial institutions on society.
And, today so should we be thinking and acting like many, many a Satoshi Nakamoto, who laid out the first Crypto "Marauder's Map" and like Harry Potter in the "Deathly Hollows" let's ALL tap our crypto magic wands and as fiat and corporations and governments dissappear ... utter "Mischief Managed" .
that's enough for now and for me "Mischief Managed" ,
Rick