Max Keiser calls it “financial feudalism”
“a few players are taking the world private, by printing their own money”
since at least 2017
“the Swiss National Bank. As I said above, don’t forget there are still central banks deeply entrenched in QE and, beyond local government bonds, are buying foreign assets (in large amounts). Switzerland’s central bank has more freshly printed money to put to work every quarter, and has been increasing their allocation to equities dramatically–$80 billion of which is now (as of the end of the first quarter) in U.S. stocks! That’s a 29% bigger stake than they had at the end of 2016. The SNB is the world’s eighth biggest public investor.” (https://www.forbes.com/sites/bryanrich/2017/05/16/this-central-bank-owns-80-billion-worth-of-u-s-stocks/)
Technology & Culture:
Sorry to shatter some expectations, BitCoin will not make mankind “better” just as the iPhone not “automatically” made mankind “better”.
Technology can always be used for good or evil – the question is – will mankind be able to come up with a method of coming to intelligent informed decision as “a crowd of 10 billion”. (democracy tried to be such a method but now fails massively btw nowadays democracy has almost nothing to do with ancient Greek style democracy where only:
- “citizens” (men with swords) were allowed to vote
- it was voted on very direct concrete things like “should we go to war with Troja or not?” (black stone in the basket = no, white stone in the basket = yes, not almost obscure complex laws that nobody not even the politicians that vote on it understand)
- Socrates said: only those that think deeply and rationally about things should be let near a vote
The BlockChain can be used for evil: NSA will create a “permanent” = unalterable record of every “fart” anyone ever did (total 1984 mass surveillance dictatorship) – “building perfect records of people’s lifes”
everything depends on a balance
The BlockChain can be used for good: help mankind survive by adding biodiversity to financial monetary systems by providing an alternative to debt created FIAT.
The amount of Bitcoins are limited by math – but what does math stop from diving bitcoins into smaller and smaller bits? (Just the amount of 0.00000000001 post-dot-digits one’s computer can process (it is actually not so easy for some programming languages X-D to process very large or very small numbers))
Same as an iPhone / Android phone SHOULD have a flashlight that might help people not fall in holes at night, when the “main flashlight” (the MAIN FIAT CURRENCY) fails.
So YES bitcoin can help mankind survive – which we hope all agree on – is a good thing.
but things need to be taken further: as technology improve – culture should improve too
the character of mankind re-cultivating from greed lying cheating egoism to altruism less aggressive more cooperative more sustainable more sharing more fair way of survival IS HARD BUT POSSIBLE 🙂