nolim1t 🌿🍄💨🥩🟧💊 [21 M ₿ / ∞] @nolim1t - 7mo
Fiat is a disease and #Bitcoin is the cure. A thread from rajatsonifnance on X (I wish I can zap that, but anyone who zaps this I will donate the fiat equivalent to charity (temples / Homeless in Bangkok and Chiang Mai over the next 2 weeks, with photos if they consent to it) - Fiat currencies are a way to steal from the general public. - When the general public starts figuring it out, nobody wants to hold the currency and inflation starts rising. - Every jurisdiction has its own currency because each government wants to extract its share of value. - The buying power of fiat currencies is based on trust in a government or central authority. - If that central authority chooses to create more currency, buying power is diluted and moved to the newly issued units. - This means your money buys fewer things over time. - Fiat currencies force everyone to invest just to keep up. (If you're not investing your wealth is being stolen) - This is what happens when one central authority has so much power over the rest of the world. - The Federal Reserve can create dollars for free while everyone else has to work for them. - The US Dollar is the world reserve currency. - The Fed has some authority over EVERYONE. - The cost of living didn't start rapidly increasing until the world went off the gold standard in 1971. - This is when the US officially defaulted on a loan for the first time. - After 1971, the US dollar became fake money because it was no longer backed by gold. - As a result, the US government can spend as many dollars as it wants without having to think about opportunity costs - it can just borrow as much as it wants at cheap rates. - The Federal Reserve, the US central bank, buys US government bonds when nobody else wants to buy them. - This means the US government has a blank check. - If it wants to, it can easily fund things like bailouts for companies that are considered "too big to fail" and systematically important, or wars when it chooses. - When governments can manipulate the money supply and favor certain companies, they don't allow the weak companies to be washed out of the system. - All banks are insolvent. - They would be bankrupt today if they weren't able to continue borrowing more money. - The fiat system is designed to let banks extract wealth from the little guy forever - banks can keep borrowing as much as they want as long as we trust fiat currencies. - A fiat currency system with fake money and no opportunity cost allows people to make bad decisions and recover from them without having to pay for their mistakes. - All of this ends with the middle and lower class getting poorer and the upper class getting richer. - Costs of necessities like homes have been increasing dramatically because of the availability of mortgages. - Banks can continuously create more money by issuing debt because they know they'll be bailed out if something goes wrong. - The people who understand the system take advantage by borrowing money and buying more homes than they need. - The people who support the fiat currency system are the ones who benefit from it. You are their cash flow. TLDR; Break the cycle and End the Fed
