Archives for category: money

We have inflation because we let inflationists have power:

The Century Company (1927; 1942).

I like cryptocurrency (especially Bitcoin) as a hedge. Trouble is, crypto definitely does not serve as a hedge against the inevitable global electromagnetic storm. It is the opposite of a hedge.

To something inevitable but unpredictable in time.

While electromagnetic pulse warfare and even old-fashioned nuclear war could be as devastating — and similar in effect — as a coronal mass ejection such as the one that caused the 1859 Carrington Event, these conflict scenarios are limited by MAD. Solar flares are not so limited. They are not under any human control at all.

Given this, and given blockchain’s huge redundancy aspects (involving astounding energy consumption and economic costs), I’m not exactly gung ho on crypto.

But I’m completely negative about blockchain’s usage as inside money by the globalized banking system. Politicians’, bureaucrats’, bankers’, and the Davos Men’s lust for a completely digital currency must be opposed at all costs. Their much-ballyhooed move to get rid of cash is an End Times Scenario — it would spell the death knell for freedom, sure, but it would also rigidify the system and make civilization even more fragile than it is now . . . from the inevitable disaster of a major coronal mass ejection hitting the planet.

The fact that this is almost never mentioned during discussions of computerized money strikes me as insane. Our civilization revolves around electromagnetic technology. We are utterly dependent upon this, even more than on fossil fuels. And this must be factored in to our assessments of risk.

People sometimes look at me condescendingly, for my presumptuousness in taking on “the experts.” Well, call me a crank; no matter: for on this issue, I’m not wrong.

My number one policy aim is antifragility. Always has been — long before Taleb gave it its name. And post-modern politics is utterly oblivious to the notion, despite the popular buzzword ”sustainability.”

One of our political considerations must always be concern for ”external hits” to our ecosystem and socio-economic system. Right now, we have progressed our way into a predicament. Further progress must not jeopardize civilization to an even greater degree. And right now both the globalist totalitarians and the “ancap” libertarians seem hell-bent on pushing just such ”progress.”

twv