dChan
Anonymous ID: b071d3 Dec. 30, 2018, 8:41 a.m. No.4522047   🗄️.is 🔗kun   >>2128 >>3022 >>6002

Using precious metals for the store-of-value function of money and cryptocurrencies for the medium-of-exchange function of money in a decentralized society

 

We have been anticipating a financial reset. It will most likely involve using gold as a means of restoring the integrity of the financial system, but the financial system will probably still be centrally controlled. Any such system can be co-opted by a small group that gets control of the top echelons of the system. This has already happened to our current system. Simply restoring gold's historical role will not remove the vulnerability. After all, we once had a gold-standard. It took many years and several attempts, but the Cabal did eventually infiltrate and subvert that system. They did it once; they can do it again. What is needed is a radical restructuring, not merely of the financial system but of society, toward decentralization.

 

The framers of the US Declaration of Independence and Constitution understood this. The Declaration asserts that individuals have rights that the state cannot take away. The Constitution is mostly about limiting the power of the federal government over the States. Starting with the individual, through family, community, region and nation, the authority of each higher level should be strictly minimized. But the Constitution has been undermined for decades and the basic building block of society, the family unit, as well as local, regional and national sovereignty are all currently under attack. This is our greatest threat as a society. The best defense, I would suggest, is radical decentralization.

 

There is much more that could be said about decentralized government, not to mention manufacturing, education, agriculture, communication, security, energy, medicine and even religion; pretty much every aspect of society. But since this thread is about money, I'll make a few comments about decentralized money.

 

Gold and silver are inherently decentralized. Their value is intrinsic. They served society well for thousands of years and can still serve society as a decentralized store of value, one of the two main functions of money. In the modern information age, they can no longer adequately serve as a medium of exchange, the other main function of money. There must be a way to make payments rapidly over a distance that is not controlled by a central authority. Cryptocurrencies can fill this need, I would argue, if it is understood that their role is not to store value. The two main functions of money must now be separated. Cryptos are far too volatile to be a reliable store of value. They only thing they can do reliably is to validate and record transactions. But this feature of cryptos could serve a decentralized society as the basis of fiat currencies at every level of the social hierarchy.

 

We have the example of Wörgl as evidence that a well-designed fiat currency can transform a depressed community into a thriving community. The community government payed workers and funded projects using a paper scrip and accepted the scrip for tax payments, forming a closed loop. The scrip had demurrage, which caused it to lose value over time, thus preventing hoarding and increasing money velocity. Unemployment went down, businesses thrived and several public works were completed during a time when Austria was depressed. The central authorities of Austria put a stop to the experiment and Wörgl returned to its former condition.

 

I don't see why the Wörgl success story could not be replicated, not only locally but regionally and nationally, with cryptos replacing paper scrip and a free-market exchange system to mediate between local, regional and national fiat currencies and precious metals to keep them all honest. Of course, a gold-back crypto can be used, but trust in a central authority is needed to secure the gold, so why bother? But I can see the value of a gold-backed dollar, yuan, ruble, etc., as a positive transitional step.

Anonymous ID: b071d3 Jan. 6, 2019, 7:35 a.m. No.4626388   🗄️.is 🔗kun   >>7007 >>4822

>>4623840

I respect people who take the route of not paying income tax, but it's risky. Even if you do everything right and are successful in avoiding prosecution you will probably not avoid persecution. There are usually better strategies than confronting those who hold power on their own turf. They are prepared to crush dissidents as a way of asserting their power. Martyrdom is costly and not very effective as a strategy.

 

I'm thinking of Irwin Schiff, Peter Schiff's father, who died a political prisoner of the U.S. because he tried to expose the unconstitutionality of the U.S. tax system. I don't think his suffering or death for the cause was much appreciated, and his captors were empowered and enabled. Peter's approach seems far more effective and fruitful. He has always payed taxes and otherwise complied with the law, but has woken many and continues to do so through media. As an example of a more creative and effective counter to the corrupt system, Peter had the brilliant idea of setting up his main residence in Puerto Rico where, automatically, he doesn't have to pay federal income tax! He mentioned this idea to Joe Rogan and as a result many Bitcoin billionaires also moved to Puerto Rico. The Schiff family is Jewish, by the way.

 

I don't regard (((them))) as the main problem. (((They))) are easy to understand, just as predators are easy to understand. If a scorpion stings you it's just being a scorpion. What has been much harder for me to understand is why most people behave like prey. What is needed is a Great Awakening, "Sheep No More" as Q writes. Then the predators and their predatory systems would die off naturally due to lack of prey. Peter Schiff, Q and many others are dropping red pills left and right and the sheeple are gradually awakening. It's just a matter of time.

 

As evidence of the awakening, as of January 3 we have HR 25: To promote freedom, fairness, and economic opportunity by repealing the income tax and other taxes, abolishing the Internal Revenue Service, and enacting a national sales tax to be administered primarily by the States. I've been waiting decades for this, ever since I heard Frank Zappa say that this would be part of his platform if he ran for President. Let's get behind this.