Trust in the US financial system is collapsing. Speculative investing driven by Federal Reserve instability has caused the money held by banks to be insufficient to cover customer deposits.
There is a real possibility that this collapse will spread worldwide. Time and time again, those who profess that the economy is best managed by the wizards of finance in ban-king-overnment. (intentional misspelling) have been proven wrong. A minute minority is gaining wealth at the expense of many.
Why does this happen over and over? When will we learn?
Some of us have learned. “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.” The bitcoin blockchain was developed to address this exact issue.
Why would one trust third-party middlemen when trust in math will do the job? 2+2=4 rather reliably. Agreed-upon rules for handling money are transparent, agreed upon by consensus, and monitored by unfailing programming.
The rules are the same for everyone, as they should be — no special treatment for bank executives.
Why do we find trust in a programmatic system so unbelievable? We trust avionics when we travel by air (even though they have redundant systems in the event of a programmatic failure), and we trust the electronics in our car; many have the same redundancy to ensure safety.
The level of programmatic redundancy for the bitcoin blockchain is unprecedented and global. It has been performing flawlessly every ten minutes, more or less, for years. Surviving the second run of bank failures since January third two thousand and nine, it is only prudent to ask, are we better off trusting blockchain math or incompetent bankers?
Not doing it! For three reasons. 1 Fear, 2 Fear, 3 Fear.
Fear that not having absolute control of all currency managed by unnamed individuals from a central bank will somehow cause an economic meltdown.
Fear that the government’s loss of currency controls will diminish America’s standing in the world.
Fear is perpetuated by those who run the existing system. As they realize a replacement is inevitable.
“fear the natural reaction to moving closer to the truth.”
Pema Chodeon
Buy some bitcoin while the ban-king-overnment still lets you.
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