Tom Luongo: Can The Current Financial System Survive Without Bitcoin?
The Bitcoin Matrix
Deep Dive
Can the current financial system survive without Bitcoin?
The current financial system is collapsing, and those in power will go to great lengths to prevent its demise on unfavorable terms. They will likely attempt to manipulate us into accepting their continued rule, even threatening thermonuclear war. However, powerful figures are working to prevent World War III. Bitcoin's role is as a bearer bond of the 21st century, serving as collateral for a real monetary system based on property rights, rather than a medium of exchange.
What happened in the recent election?
The "comfortable wolves" of Wall Street and other powerful figures intervened to ensure the election wasn't stolen at the presidential level. Deals may have been made behind the scenes between Trump and Biden. While some down-ballot races may have been manipulated, the presidential outcome suggests a rejection of those trying to escalate toward World War III.
What is the current state of the "comfortable wolves"?
The "comfortable wolves" became uncomfortable and voted in a way that prevented the election from being stolen. Powerful figures on Wall Street also exerted influence to ensure a fair outcome. This suggests a recognition that maintaining the existing power structure requires some concessions to the will of the people.
What does "winning" look like in the current financial and political climate?
Winning means shifting the focus of capital flow down the production stack toward essential goods and services. It involves reversing the overinvestment in non-essential items and unproductive sectors, fueled by a manipulated monetary system and administrative state. This requires changing the structure of production and bringing investment capital back to domestic priorities.
What are the next 50 days likely to hold?
The next 50 days leading up to the inauguration will likely see attempts to prevent Trump from taking office. This may involve escalating tensions with Russia, possibly through a staged false flag operation, to create a pretext for war and justify delaying or canceling the transition of power. Financial markets will likely be manipulated to support these efforts.
What is the likelihood of Trump not taking office on January 20th?
While not certain, there is a possibility Trump won't take office. A potential scenario involves escalating the conflict in Ukraine, potentially through a false flag operation blamed on Russia, leading to the 25th Amendment being invoked against Biden. Kamala Harris would then become president and potentially use the ensuing crisis to justify delaying or canceling the inauguration.
What is the role of Tether in the current financial landscape?
Tether serves as a liquidity agent for Bitcoin, allowing it to trade against a stable asset and minimizing volatility. It may have been initially flawed but is now likely blessed by the Fed, serving as a tool to manage capital flows and treasury demands. Its market cap increases in response to rising Bitcoin prices, suggesting a link to treasury purchases.
Why shouldn't we end the Fed?
Ending the Fed would be disastrous. It would remove the US's control over the world's most powerful currency and financial institution, leaving the country vulnerable to manipulation by hostile foreign powers. It would also disrupt trillions of dollars in agreements and assets valued based on the current system. Reforming the Fed, not ending it, is the prudent approach.
What is the significance of SOFR?
SOFR (Secured Overnight Financing Rate) represents a shift away from the manipulated LIBOR system, allowing markets to bid for money and weakening the eurodollar system. This gives the US more control over its monetary policy and reduces the influence of hostile foreign powers.
- Former research chemist and amateur dairy goat farmer.
- Anarcho-libertarian and obstreperous Austrian economist.
- Owner and publisher of Gold, Goats, and Guns.
- Believes individuals are the only ones who can make the right decisions for themselves.