“Give me control of a nation’s money, and I care not who makes its laws.”
~ Attributed to 1790,
before the establishment of the
Control of the money supply means control of everything. And government control of the money supply is how nations, around the world, have enslaved their people. Printing money on demand for their own use enables them to enrich and empower themselves and their cronies beyond measure, and to fund their endless wars, while impoverishing the people through the “hidden tax” of inflation (as in inflation of the money supply), as the ongoing devaluation of the currency results in a vast reduction of their purchasing power (it is estimated that in the US, the dollar has been devalued by as much as 98%, or less than a nickel on the dollar, and falling).
On top of that, the extortion of income taxes, sales taxes, and other taxes and fees have now been automated, so people never even see the money that is taken from them by their governments, at the national, state, and local levels, then used not only to enrich and empower the state and its agents and crones, but also to fund militarized domestic police forces to protect the themselves and punish the disobedient and the dissenters—all at their own expense.
Due to this reality, I believe that the key to shifting the power and wealth away from the state and back to the people (where it belongs), lies in somehow wresting control of the money supply and financial systems from the state, and returning it to the people, to the market, as it should be. Somehow, we need to pull the plug on the state’s funding, get our money out of the hands of the politicians—i.e., take away their allowance and put an end to their party.
Enter: Blockchain and Cryptocurrencies.
Just as the internet and related digital technologies are obsoleting and removing middlemen and gatekeepers from between producers and consumers around the world, blockchain technology is quickly obsoleting and removing hierarchical and centralized control of systems—be they big corporations, financial systems, or yes, governments.
Hierarchies are implemented as a means of supervision and control—or to facilitate, in a word, trust: the middle-managers supervise the workers; upper management supervises the managers; executives supervise the upper management, then the vice-president(s), then the president or CEO, board of directors, etc. on up to whoever sits on the throne at the top.
All of these layers and layers of supervision, just to make sure everyone is doing what they’re supposed to do, and behaving themselves.
But the problem with hierarchical systems is that it’s impossible to create a perpetual hierarchy—somebody, somewhere, has to be at the top; and the further up in the hierarchy people are, the more power, and less accountability, they have—and thus the ever-increasing temptation for corrupt or even criminal activity is unavoidable, and eventually irresistible.
Blockchain ends all that, by creating an encrypted public ledger that holds everyone accountable, and is accessible by everyone within the system. In other words, nobody can cheat or steal or lie or tamper with the system, without everyone knowing about it.
And cryptocurrencies are built on blockchain technology…
As renowned Bitcoin guru Andreas Antonopoulos guru has pointed out, the largest economy in the world is not the US, not China, not the EU—but it is now the Internet—and cryptocurrencies are the money of the internet.
Cryptocurrencies enable instantaneous, extremely low-cost, uncensored, peer-to-peer transactions around the world, without the need for banks, financial institutions, clearing houses, governments, or any other centralized authority. It’s completely decentralized.
So in my opinion, the rise of blockchain technology and crypto-currencies is what will, in the (hopefully near) future, wrest control of our money supply and financial & economic systems—and, as a result, our lives—from governments around the world, thus rendering them impotent and irrelevant. My hope has always been for a peaceful, technological revolution, rather than a bloody one, to usher in the new age of humanity—the age of stateless, voluntary societies—and blockchain, I think, will deliver just that.
Now, I don’t have the technical knowledge, experience, or expertise to delve into the inner workings of blockchain or cryptocurrencies, so I’ve elected to share some simple yet informative videos below, to help convey the importance of these technologies to those of you who, like me, may be novices in these fields and would like to learn more about them, or at least gain a little more understanding:
The first is a video entitled Blockchain: Massively Simplified, presented by Richie Etwaru at TEDxMorristown, which breaks down, in very simple terms, what blockchain is and how it works; this is then followed by a presentation entitled Bitcoin is Punk-Rock, You Can’t Control it by Andreas Antonopoulos at the WIRED Money 2015 conference, in which he explains everything wonderful that cryptocurrencies have to offer, both today and in the future.