Read_854 - Bitcoin Appeals to the Old System's Deepest Flaw
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It's a concern I often hear from those around me who are trying to wrap their heads around IT, and it's understandable. After all, how could any financial system avoid to be captured by those who already hold the most power and wealth? Want to just lead to the same money equal system again, only in a new form you might ask.

Well, those who gained wealth in the current system dominate the new win by holding a disproportion amount of IT. The answer is as simple as IT is powerful. It's no the best in bitcoin made audible. I am guys, swan, and this is bitcoin possible.

What is up, guys? Welcome back to bick coin. Audible, I am guys won the guy who has read more about bitcoin than anybody else. You know, we've got an article today, a read that we are diving into by Peter england.

And this one is he's actually got a couple of articles now that I ve really enjoyed um and he has a shockingly low amount of followers for how much I have enjoyed a number of things that he has written on this. So uh I highly recommend not going and checking him out. I will also obviously have the link to the shower notes, I excuse me, link to the article in his medium page.

Granted, IT might his medium page might not be his main thing. I'm not sure. I just I just know that I have been saving things that have come up through medium but highly recommended. I've really enjoyed his writing and we are getting into one today that just because I keep keep hearing this idea and I I get IT, but it's so frustrating because it's it's just a failure to understand and what's wrong with the current system.

This is what I find so so often is the people who think that the bitcoin system is going to be the same or it's not going to solve the problem, have a misunderstanding of what's wrong. Now they do not understand what is broken and why things are as bad as they are. They don't understand why the counter fit class exists, how the incentives and the culture and the direction the we've shifted the market towards unsustainable and completely thought less and empty practices, the irresponsibly, the bloat, the corruption.

They don't understand where this came from. They think that this is just a natural occurrence. This is just the way things are.

And thus, when we have a bitcoin system is just going to be a different group of rich people. And I feel like Peter did a fantastic job of illustrating, just painting a picture as to why why that's not true. And what exactly is IT specifically that makes IT not true.

So we're going to dive into his article. Don't get to check out a the affiliates that we have great places to buy bit. If you buy bitcoin, please go through any of the links that I have for the services that I really like. And that I use is actually a really good way to help out the show.

Another major thing that you can do is leave a review on, like apple podcast or google play, and then, of course sheed IT out um and thank you to so much to also you know boosters and zipper s on noster IT is so cool having albie hub hooked up to my my sovereign wallet and having a lightning address. It's so awesome being able to look at the exact same wallet that I use for spending and see all these apps coming in. Thank you guys so much.

And I don't think you appreciate how much that helps and how great IT is. So I just I just want to give an infinite thanks to those guys, to the audio notes, to everybody who's zaps me on noster and fountain ah IT just really is an awesome thing and IT goes a lot further then you probably think so. Thank you.

But with that, let's get into today's article and it's titled opting in how bitcoin appeals to the old systems deepest floor too radical transform IT by Peter england many people wrestle with one specific question. When IT comes to transitioning to a new economic system based on bitcoin, if the wealthy empowerment can use their wealth to buy bitcoin, won't they end up controlling this new system just like they dominate the current one? It's a concern I often hear from those around me who are trying to wrap their heads around IT, and it's understandable.

After all, how could any financial system avoid being captured by those who already hold the most power and wild would need you just lead the same unequal system again? Only in a new form you might ask, want those who gained wealth in the current system dominate the new in by holding a disproportionate amount of IT? The answer is as simple as IT is powerful.

It's no. This is where satoshi Better idea truly shines. Let's dive in the two piles in our economy to understand this, let's break the economy into two parts.

On the left, you have the money supply. On the right, you have all that money can buy goods and services, such as houses, cars, food, education, eeta. In today's system, there are two ways to pursue a living.

One, chasing the expanding money supply. Banks, corporations and speculators make money by ensuring that the left pile constantly expands to their advantage and to creating real value. Entrepreneur s businesses, teachers, nurses and workers contribute to the right pile by producing and improving goods and services. The problem with today's stem is that chasing the ever expanding money supply, positioning oneself as close as possible to the money printer, has become a far more profitable strategy than creating real value. The rationale behind IT is straight forward.

If everything on the right side can be bought with money and the money pile continuously grows as though IT were a natural law, which IT isn't, why not specialized on being the receiver of the new money instead of producing something that must later be exchanged for IT anyways? To Better understand the practices behind chasing the expanding money supply, here is a breakdown of how IT works. Banks too big to fail.

Banks Operate on a business model where they borrow new money at the central bank rate and lending to clients at a premium. This might already seem like a privileged position, but the real kicker comes when banks over extend themselves by lending too much at high risk. In any other business, failure would mean collapse.

But for banks, the government steps in printing new money to bail them out. Essentially, the public foot the bill for bankers reckless risk taking on top of this bank's profit, from selling under performing financial products to their less informed clients, keeping their profits rolling in. Big corporations access to cheap capital.

Large corporations are the recipients of the cheapest loans, those with the lowest interest rates that banks issue. This gives them a significant competitive advantage, which they used to acquire our competitors and engage in monopolistic practices, allowing them to set Prices and wages with little resistance. If they're not focused on buying out competitors, they may use this cheap capital to buy back their own stock, stock by bags, effectively distributing the borrowed money to shareholders by inflating the stock Price.

They may also use their access to cheap capital to pay for political influence. c. Lobbying, the end result, greater corporate consolidation and further undermining of the free market. Political lobbying, regulatory capture lobby's earn their living as an extension of chasing the money supply as they are on the payroll of the big corporate interests.

Lobby's worked to secure favorable regulations, particularly in areas like anti trust law, taxes and regulations, ensuring that the rules stay in favor of big corporations while creating barriers for new entrance into the market. Political donations, another form of lobbying, are also used to shape political candidates, often resulting in the illusion of choice between only a few candidates based on the limited diversity of corporate interest rather than the genuine diversity of the electorate. Speculators, asset inflation as the money supply increases, asset Prices, particularly fixed supply assets like stocks, rise, speculators position themselves to be among the first recipients of newly expanded money by speculating and selling financial products.

For example, when corporations engage in stock buybacks, speculators ride the wave, profiting from artificially inflated stock Prices. While the approaches above may be morally questionable, many justify IT by arguing that if they themselves didn't exploit the loophole someone else would. It's just the way the system works, and they're not wrong if you're an avid entrepreneur, business owner or even just a regular citizen trying to build something of value for yourself and your family, you'll either be swallowed up, driven into bankrupcy or left by the wayside unless you adapt to this harsh reality.

But IT doesn't have to be this way. The loophole that enables these practices exist solely because the current system has a single point of failure. The government's control over money creation, by directing resources toward influencing that control, individuals and corporations can a ash disproportionate power and wealth.

This is not so much a moral judgment of governments implying they're inherently corrupt or malicious, as IT is an observation about the structural incentives at play, which make government's highly vulnerable to corruption. In a system where one entity has the exclusive power to create money from dan air, that very authority will inevitably lead to money printing, especially when faced with economic pressures or political demands. A hundred different governments may resist the temptation for a hundred years, but IT only takes one rogue actor to sweet that all away, reversing a century of restraint.

Once the printing begins, a self reinforcing cycle emerges. Those positioned closer to the source of new money enjoy immediate benefits, access to cheaper capital, influence over policy and disproportionate economic advantages. This proximity then ensures that their influences only grows stronger overtime, perpetuating a cycle where power and wealth consolidate further, all while the true creators of value are left at a disadvantage.

Once the snowball effect takes hold, any government succeeding the last will find itself forced to adapt to the new economic reality, because it's an electoral reality by continuing the printing in order to avoid destabilizing the entire economy. Today, we've become so entrenched in this cycle that the dominant schools of economic thought have been backwards engineered to not only justify, but champion inflation as a positive force. This idea is so deeply embedded in mainstream economics and policy making that its absurdity is rarely questioned.

We are told that moderate inflation quote promotes growth, Fosters employment and drives novation. But ask yourself, growth for whom? Employment at what cost? Innovation for what purpose? The so called growth is nothing more than debt fuelled consumption, not sustainable progress.

The employment, low wage, precarious jobs, created defeat cycles of mindless consumption, leaving workers exhausted and unfulfilled. And the innovation, its hollow design, to eez short term profits and perpetuate system that thrives on inequality and devastation. In reality, inflation does nothing but transfer wealth upwards, erode social cohesion and accelerate the destruction of our planet.

By enforcing a system wherever increasing consumption, not real sustainable growth, is the benchmark of success. We are on a path where the only measure of achievement is how much we can extract and consume, no matter the damage done to society or the environment. IT all traces back to the money printer, a loophole that exists because control over money creation is concentrated in a single point of failure.

That's the inherent flaw of the current system. But so what if we change the system entirely? What if the loophole that created this reality did not exist into bitcoin? Unlike the fights system where money can be printed at the government's the queen, money supply is unchangeable and incorrupt.

This resilience stems from its lack of a single point of failure, as IT relies on a consensus mechanism maintained by a decentralized network of participants. No matter how many resources, banks, corporations or government throwed, even if they all work together, they cannot alter bitcoins, open protocol, the money supply will forever remain capped. At twenty one million coins.

Now imagine a scenario where the asset heavy beneficiaries of the current system, banks, political obvious corporations and speculators, begin to adopt bitcoin like they're already doing, because its performance as an asset is too, allowing to ignore, want IT just lead to the same unequal system again, only in a new form. Want those who gained, helped in the current system dominate the new win by holding a disproportionate amount? No, IT won't.

What will happen is that with every step they take to embrace IT, they will reinforce a new system that undermines their traditional influence. Over time, their ability to manipulate the system and generate wealth from thin air evaporates. The services, influence and authority they once commended will become irrelevant as they can no longer gain the system to their advantage.

This leads us to an interesting scenario. Once bitcoin has been widely adopted, many of these old beneficiaries will hold substantial amounts of IT, but they'll face of the lima. What should they do with their money? Today, the wealthy store their value in various assets such as real estate, viewed as a hedge against inflation.

However, in a deflationary market, the value of real estate will lose value over time. Relative to bitcoin, there will be no more reliable store of value than bitcoin itself. Traditional stores of value like real date will trend to utility Prices. In fact, everything that can be bought with money will gradually lose value relative to a fixed money supply like bitcoin over time, making spending in synthesize only when actually needed or when IT creates added real value.

Traditional banking, fractional reserve banking will no longer be an option for reinvestment, as there are no interest rates to collect from loans created out of the air bank, managed funds will become largely irrelevant, consistently under performing compared to bitcoin, political donations to influence monetary policy will become pointless, as there will be no central authority with monetary control to manipulate. While fiscal policy could still be influenced, governments will no longer be able to bate the poor by printing money to finance short term relief masked as solutions for progress and fairness. Only for that wealth to fund back to the rich without the crush of inflationary funding, policies will be forced to provide real lasting value to the majority, rather than feeling the same hidden cycle of wealth redistribution.

Speculation in foreign change markets and stock bubbles will diminish as inflation driven monetary systems will disappear, taking these opportunities for exploitation largely with them. So what remains? They have only two options, either hold on to their bitcoin, which will only help to increase the purchasing power for everyone else or seek higher returns elsewhere. But here's the catch.

In a world governed by sound money, their old tactics, finding ever more creative ways to chase the expanding money supply, have become, in this new global economy, the only way to reinvest their holdings for a return potentially higher the ammick win itself, is to invest in ventures to create real value by expanding the right pile of the economy. Think of IT this way. In a world where banking holds a little to no value, who would be more valued? A banker or a nurse who can heal people?

What defines this new paradise is also that because the economy Operates in a state of chronic deflation, long term investments are naturally favored over short term gains. As vick ends purchasing power increases over time, simply holding IT becomes rewarding this incentivises spending only when necessary or investing in projects with sustainable long term value. In essence, the larger and more forward thinking, the business idea or vision, the more valuable IT becomes as a unit of vq in the future, will be worth more than IT is today the exact opposite of the dynamics of the previous inflationary system.

While this won't eliminate criminality, short term ism or unethical practices altogether, IT will greatly reduce the loopholes that have been exploited where those with the least moral restraint have consistently been rewarded. Instead, IT will create a system where those who uphold fair competition and CoOperation stand the most to gain. Simply put, IT will push manipulators from the center to the edges of the economy where they belong.

Under this new paradise, everyone, including the wealth thy from the old system, will be confronted with a fundamental question, how can I provide the greatest sustainable real value to the most people? The future will belong to anyone who continuously asks themselves that question. This is what makes the option reality of bitcoin a genius feature to achieve radical systemic change. IT draws the old system in by appealing to its deepest floor greed. It's nothing less than a trojan horse for peace, sustainability and an equitable world.

I thought this was such a good way to explain this idea and the illustration of using the two different piles of money, of people trying the money, the new money that is pushed into the economy, and people trying to actually produce regal value and goods, on separating these two things, I think, is such a great way to illustrate this up. I've kind of done the same thing in like a two of my two SAT videos and bunch different episodes. I try to make IT clear when people talk, because people think money as a resource.

People think that money is something of value, without recognizing that money is a record keeping system for access to the things of real value. So often, so often, people, I cannot tell you how many times i've heard, i've heard this today. And like the last couple of days, the the whole like aren't we just replacing the old system with a new system where everybody's going, they're going to be rich and they are all just going to dominate the new thing.

They'll still control and owe everything and there's nothing we can do this this feist attitude that somehow nothing is changed because I guess they're still rich people or something to those people. I say you never understood what the problem was. You never and I I don't even mean that and like a bitter sensor, like i'm angry, but legitimately you have to not understand what the actual problem is.

If you think that just because is just because the same people, if the exact same people who are rich today in the field world end up rich in a bitcoin world, the problem that LED them to destroying society, to parasitically suck trillions and trillions of dollars worth of resource real resources out of the economy and into their coffers under their ownership, where we became a middle, an economy where they own everything and we rented from them. That loophole does not exist in a bitcoin world, because the loops is explicitly about chasing newly printed dollars. And the bigger bitcoin gets, as IT clearly is getting bigger, the bigger IT gets, the more IT will not IT will just immediately, like instantly react to the the amount of dollars being printed.

And as that happens, the entire the entire scan, the entire gift is just mood. It's immunized. The entire economy and all of our stuff is immune zed against IT if they print a trillion dollars and the Price of everything for the Price of bitcoin goes up almost instantly as a reflection of that increased liquidity of the amount of money that they printed into the economy, even if it's just an emotional thing, even if people are just speculating the okay, well, now this will be the new Price of bitcoin.

IT will be sustainable simply because they just printed the new dollars. And if there's no delay between the printing of dollars in the adjustment of Prices in the economy, because bitcoin is has a comparative amount of liquidity, then there's no margin to steal the margin between printing money and taking everyone's stuff at a Price at which no one else can get IT. Especially if IT is printed as debt is about the time delay is about the fact that the Price doesn't adjust until after they put the new money into the economy and IT circulates through a bunch of different transactions and the entire gifting aora us the whole ecosystem of speculators, of lobby's, of banks, of huge corporations, of the literal counterfeit class, they only survive.

The entire industry is only sustainable and is only the center of the economy because of the flow of money, the flow of printed money that comes out of the political system and federal reserve system. And this quote does such a perfect job of just hitting the nail on the head of why this is, quote. The problem with today's system is that chasing the ever expanding money supply, positioning oneself as close as possible to the money printer, has become a far more profitable strategy than creating real value. It's easier and IT has higher returns. Quote, the rational behind IT is straightforward.

If everything on the right side, obviously alluding to buildings, cars, real estate, uh, just value, real value, services, products, everything, all of the stuff, actual things in the economy, if everything on the right side can be bought with money and the money pile continuously grows as though IT we're a natural law, which IT isn't, why not specialized on being the receiver of the new money instead of producing something that must later be exchanged for IT anyways? And I like in this the knowledge I used in my bit block boom talk. I believe IT was was you have A A ten people in an economy, and you know, one of them gets all the water, one of them makes the food, one of them built the houses, one of them figures out as all the mechanics and an engine work, and all everybody does one of the jobs, and they all trade.

And everybody's roughly equals are totally, completely non exist in economy. But for the sake of understanding the principle, I think this really illustrates that everybody does there one job and everybody trades. That's the whole concept of a society, right? That's what an economy does IT allows you to do one thing and me to do another and provide value and provide uh something that the other person needs in some way voluntarily and allows us to trade so that I don't have to build a house. You can build a house, but then you don't have to read about bitcoin for eight hours a day for seven years and try to understand all of this stuff and use all of the tools to work through IT.

You can just trust that i've done that and i'll have a pretty good recommendation, is to what you should use and how to you set up because i've screwed up four hundred times as exactly how you build and get good at or do anything is exactly how you build a house, is you keep trying IT and correct the things that don't work. And then suddenly you have a huge skills set, this incredibly valuable to other, other, other people. And the whole concept of an economic system and the purpose of money is so that we can accurately trade that accurately being the key point here, if the money doesn't change in in supply, if if money isn't being created, if it's only being exchanged between people who are making voltore exchanges and actually hold the weight, understand the cost, IT took them to get that money before they let go of IT to get something from someone else, well, then the money is an independent mechanism that actually a lot means that IT waste the same for you.

As IT does for me, IT becomes the one thing that doesn't change so that we can measure the difference between all of the things that do change. Now imagine in this economy of ten people who are all doing their one job, one person prints the money. One person just writes numbers on paper and then hands IT to the other people.

They get all of the stuff. Now you have nine people working their asses off. You have one person building the cars and doing stuff to help other people. You have one person making the houses.

You have one person making the food, and you have one person who gets food, housing, cars, water, everything that they want and need and has contributed absolutely nothing to anyone else. They are literally just a parasite. But here's the thing, that person's going to be the richest one douteless.

They are going to buy the biggest house. They're na have the nicest car and if that's all IT was, IT wouldn't even be so bad. Most organisms can live with a parasite or two and not be killed like we could at least just deal with IT.

They're still the scum of the earth. It's still a big problem. But eat at least doesn't poison the rest of the system. Except what happens now, all that guy building houses has a whole less reason to build IT for the other eight people.

Then he does to build IT for the guy who's near the money printer, the guy who's making cars has a lot less reason to make cars that are actually good for the other eight people. And instead is gonna be building the cars that the guy with the money printer wants. Slowly but surely, everybody in the economy is going to start to gather around the tenth guy with the money speak IT.

And it's gona change what we make. It's going to change how we make IT. It's going to change how we cater to. It's going to change of the culture because they're going to look at this person is the most important, the most significant because they have the biggest house and the nicest car is going to change. How we culturally think about things is going to affect everybody's literal soul.

But what they think about themselves because the person who build houses probably just wants to build houses for people, probably likes to build houses, and instead they going to be building shallow, pandering crap for the person with the money printer, who is the only one who doesn't understand what the cost of any of this stuff, which means that it's going to degrade, it's gona degrade in quality, is going to degrade in purpose and meaning. All of IT is going to be empty, is going to get emptier and emptier. And he is going to have to compromise on that in order to make the most money in real estate that he can make.

And he's going to find themselves building a bunch of rapid crap for rich people that he never even really wanted to build. And the thing that he was there in the first place to do, to make sure that other people had nice houses, that IT was high quality, finds himself building garbage, compromising over and over on what he thinks is a good decision. Because the money dict ates what he should be focusing on.

IT distorts everything. That starts the value of everything quantitative. Everything becomes a quantitative measure. Everything becomes, is GDP higher.

Do we have more arbitrary spending? And all of the important quality ative measurements of the economy just vanish. They become an important when, in fact, qualities is the only thing the economy actually is.

You cannot quantify the economy. The entire thing is a giant subjective organism. Everybody is just deciding what is best for them. And IT is insane to me, that has become common.

Economic attitudes is a common knowledge for people to believe that things that are bad for the individual are good for the economy. The economy is the individuals. There's nothing else.

It's just the people. What's good for the people is good for the economy. Savings is good for the economy. Surplus is good for the economy. Having leasure time is good for the economy. Not having to work you as off and having time to actually make decisions about your lives, having optionality and being able to choose that you don't want to a work for this person because you actually have a runway.

You have the ability to choose because you have a little bit savings, because you're not drowning in dead, because you actually have a sustainable economic foundation that's good for the economy because that's what the economy. It's us. Is no such thing is shit for people good for the economy? If going into dead is bad, if IT is stressed, if IT means that you have less options, it's bad for the economy.

Doesn't matter what your metrix says. And IT poisoned everything. IT poisoned everything. IT completely screws up the pricing of all of IT IT makes IT look, I even even knowing IT IT still becomes the smart that financial decision.

In two thousand and seventeen, I bought this house when I shouldn't really have bought a house. And that is someone who could who could afford IT. But I made the most financial since most financial sense, far, in a way, get a house while let's still dirt cheap, because I knew the money printer was going to go crazy.

I knew I was going to be worth more. We have done so much work on this house. I bought IT with as little down as I could possibly manage because I didn't wana sell any bitcoin.

I bought IT with the lowest possible interest rate that I could get, just to get the lowest monthly rate. That was feasible because that was my first home purchase. I got like some fa j benefit or something where I didn't even I could put down even less on the house that I originally had planned to do.

Of course, I took that option. Unlike i've said, i've done so much work to this house. We've read on the bathroom, read on the kitchen, read on both bathrooms and read on the kitchen.

I put in wine scotland in the room, replaced the bulk of the trim. We have dug out the cross space and poured in summit. And we have a basement, we have framed out that basement, we put a fence around the yard.

We have done so much work to this thing without any of that. Just the zero estimate as to what the value of the house is now is over twice what our one is. This house was in garbage condition.

Mom, I got IT and he was in crap condition. All of the cabinet were in D. F. And they were swilling. There was water damage all over the place.

The but was another thing that we've done, as we've water proof the foundation of this twice we've put in a great A A ridiculous drainage system and two back up pumps that keep this to keep the water out of IT, even in like really crazy storms. None of that is factored into the Price. none.

Zillow doesn't know any of that. Just looking at the Price of the houses in this area. And the last time I was sold this house is worth, I got a steel simply because I bet against the dollar. And you know how long houses were in the market, like basically black rock, like just A A bunch of huge corporations are just buying up houses as quick as they can get them.

But this has largely been the case the whole time, except for brief periods uh, recently where the interest rates were actually pushed higher, where IT actually became some sort of an economic decision as to whether or not you should have a house because the house will far away, outpace the interest rate in its Price. Actually increasing IT increased seven percent year over a year, at least the last few years has been like twenty percent. Interest rates, like six I can make, is a complete no brainer from a financial sense if you actually know how to think about this in the terms of the money itself.

But what that means is that I have been able to not IT means that you are getting a value out of the economy and literally is it's the huddling around the tent, the guy who is printing money. We're getting loans from the bank to buy assets that will go up in Prices so that we don't actually have to replenish the real value that we are taking out of the economy. Think about IT in terms of houses, in terms of houses, not in terms of the dollars, not in terms of the amount of money.

I only have to produce half a house in order to pay off my entire house. The original loan that I have to pay off requires a very small house. In fact, I might be able to do IT with a nice double wide, mobile home. What I oh, is not at all what I took out of the stockpile of resources. And here's the thing, he talks about this in this piece.

He says, well, if I won't, if I don't do IT as somebody else will, it's just the way the system works and it's a hundred percent true like IT would be so stupid of me to not do IT when IT doesn't IT doesn't prevent anything. There's no way to get rounded. Black rock is still just gonna buy IT and sell IT as somebody else.

I don't I don't have any sort of meaningful effect on IT at all. IT is quite literally, quote, just how the system works. And that's the most dangerous thing about IT is that you don't have to be a morally bad person.

In fact, quite the opposite. You can be a perfectly moral person and simply just not understand what is happening. Or you can understand IT. But it's still for your sake.

It's IT puts you at odds with the value of society IT breaks down the cohesion that has us working, CoOperating together as a society to make things Better and instead puts us in a position to chase resources, to chase assets off the market as fast as possible before they go up in Price. IT is shifts the entire system into a scarcity mindset to buy up and own as much as you possibly can, as fast as you can. That whole thing will be flit on its head in a big coin world, because nothing we will make or nothing will go up in value like bitcoin will.

And bitcoin is in a resource. It's a record keeping system to save in bitcoin means that you are explicit, not taking things out of the right stockpile of resources, the the actual good services, products, assets, real state, the things that people need to live for their standard of living. You are leaving things in the pool of economic resources for everyone else is benefit.

People don't understand that the tenth guy who was printing money in our little example, his griffe continued. Definitely, there was never a time in which he couldn't do this. In fact, his position was permanent. IT was a IT was a part of the apparatus of society that value resources, goods. Everything that we made would flow to him, and then he would just use the money printer to gobble IT all up.

So in context of the premise that he built this article of of of people saying that, like all, I wanna just be the same thing, understand that if we ever did, like a fool, like just chop off the rich, and let's say we all got mad one day because we like this system is unfair. And so we went to that tense guy's house, and we kicked him out of the house. Or we, we took his car.

We took all of his cars and we split them up, and we gave them to the eight people. We got mad him. And so we we burned all his stuff down and took what we wanted and made him poor.

IT didn't change anything. The speak will still be there, and someone will still be the tenth guy. In fact, if he isn't killed, then he'll just fall right back into the same position we didn't actually take. We didn't fix anything about the system. We just got matted him because he was the best is at exploiting IT.

So when we talk about like him, okay, well, that guy is going to have all of this money and all of this wealth and Hughes be able to buy up a lot of bitcoin, except that what that does the of buying up that bitcoin closes the valve on the loophole. sure. IT doesn't make him poor, doesn't punish him for being in his position if he makes the realization and decides to buy biton like the rest of us.

And so he's still rich in a bitcoin world, not for a sustainable sense, but from a cheer. I just have x amount. And so in the short term, I didn't solve the problem IT didn't correct the imbaLance. But in the long term, it's permanently closed the loophole.

It's the last time he can do IT all the privilege of the banks being able to loan money out of thin air at a federal reserve rate and then just tack on a few percent and just get a free supply of rent on everything, on all of the capital of this of the society. That's what they do. They get the money printing interest rate, and they turned them around and just make the interest rate higher.

And they landed to us. And we own, we own them. All of the stuff that we buy with IT.

They make rent on a money printer. I hope you appreciate how bankers that is, how insane and just, just idiotic that system is. The banks lose that position. They lose their privilege. They cannot lend out bitcoin that doesn't exist.

Nobody is going to lend in micco's at an interest rate that is not a real interest rate because they have to explicitly lose their bitcoin to do that. And nobody can print IT going. Huge corporations and impossibly low interest loans will not be able to get that anymore.

And this is another thing that people don't realize is that the the whole, like giant corporations can get one percent interest, two percent interest loans never made any sense. That was never realistic. In fact, banks should be even less interested in giving them enormous amounts of capital for no reason, because they already have saturated markets.

They are not going. They are the least likely to experience three hundred percent and five hundred percent growth. The only reason they can at this stage is because they get loans at impossible rates that nobody would ever give them because it's newly printed money.

IT doesn't cause the bank anything. IT just needs to be like a tiny bit higher than what they got from the money speak IT. And what do they do with IT? They just buy up all their competitors.

They just buy up this is exactly what happened. It's a huge lobby's. It's just a grip.

It's it's a circular grid. I saw this with the wasn't like an nine hundred billion or not. I guess that was nine hundred million. But guess that was back when millions was still like a large amount of money in the nineteen IT was like was basically like a one billion dollar bring internet to everybody package and IT was so funny because I saw this and IT wasn't until after a few years and I started getting into this and looking back on IT that I understood actually what was happening.

What I know we had uh, friends, cable or something like that and like we knew of the guy through other people like we just some dude who set up an internet service provider in our small town and which is running interact and had interact connections and there were like something like. Many, many thousand I S like different company. I S P like so many towns, we're just run by some like literally like bobs cable, you know ncee internet, high speed internet.

Honestly, these are silly examples. But like straight up, they were just small companies that we're providing one service to one low cow interconnected. And then the government came up with a bright idea, because a bunch of lobby's thought I was a bright idea of just loan out a shit on the money to a bunch of huge corporations to couldn't, quote, provide everyone with internet.

And they did not run any lines. They did not build out infrastructure. They bought friends, bobs and nci high speed internet service. They just consolidated.

And what was once a huge, diverse, viBrant ecosystem of competitors just became like four companies and is so crazy, because we've seen the same thing everywhere, we seen the exact same thing in banks. We ve seen the same consolidation, unnatural consolidation, in so many different industries, to the point that people hate capitalism because that means big everything. No theyd theo.

T means big everything. This is what happens when you have a money printer and IT makes speculators because there's so much money flooding into the financial system, there's just massive volatility. Things grow for no reason.

One of the crazier things is that the average return for the S M P. Five hundred is literally the average growth in the into money supply is the exact same. None of them, none of IT is real that there's nothing just grows forever in Price. That doesn't make any sense.

The only way, the only way that, that can happen is if there's more money that's IT, things can only grow comparatively if you have company a and company b in the exact same industry or just in the exact same economy if company b grows. The only way that I can do that from a monetary value perspective is if other things are falling as a proportion of the economy. Just as a simple example, the internet company, the company that no publish is on the internet, specifically grows in a stock market valuation because they are taking readers who used to be on the newspaper.

Now this does not make IT zero sum. I'm just talking about the economy is not zero sum. They have added enormous amounts of value and they are going to bring all many, many readers that don't never even read the newspaper because they've lower the barrier to entry.

They've created more value and more accessibility to that thing. But in the stock market, IT is zero sum. Everything can just go up forever. IT is the amount of people and the amount of a the amount of people who are in the investor class who are actually investing in companies.

They have to do so specifically at the cost, at the trade off, of not investing in one thing and choosing now to invest in a new thing. All that fighting, all the fees, all the dividends, everything that comes with the S N P. Five hundred, with these big giant stock market indexes, all they are, are reflection of the money supply.

There is no real sustainable, amenable growth in the stock market. That isn't just about dollars, is just about printing dollars. This creates a massive, massive industry of speculators, of traders, of financiers, of people who financialization crap for the sake of financial zing IT.

And they don't even remember why they're completely disconnected. They they completely lost touch with the fact that all of the other stuff, the stuff in the right pile, is the only thing is actually worth anything. And they are derivatives and their stock markets and their equity only relate to what in the real world their pointing at by themselves.

They are valuable. Vickee en fixes this. This is why a Parker Lewis peace, the great d financialization is that is that is going to the financial ze everything because IT makes no sense to invest in anything else if you don't think it's actually going to have A A explicit real return, there's no just like numbers go up forever, it's just the money.

The money will just reflect the growth of society. And otherwise, investment will simply be the things that are worth investing in. And we will stop wasting our capital, giving IT all the black rock so they can owe the world and we can run IT back for them.

Fiat is a bug fight, is a loophole to take value, real value, out of the economy, out of the society, and never put IT back in. Bitcoin simply fixes the loophole so they to stay rich to maintain any word, you have to actually do something worthwhile. And IT doesn't matter who's rich.

IT becomes true for everyone and there's no exception because you can't print more bitcoin that is IT shout out to Peter for this amazing article. Don't forget to follow him, drop some applause and check out the many great links we have right down the shown notes. And I am guys fun, and I will catch you only next episode of big one table until then. Everybody take IT these guys.

All rational action is in the first place, individual action, only the individual things, only the individual reasons, only the individual acts. Ludo vivan misses.