Bitcoin is Freedom
Originally recorded 05/13/23 for Episode 43 —Blaine Rhoden: How do I Crypto
In this discussion, Blaine and I considered the philosophy of Bitcoin in relation to fiat currencies, and the value we believe cryptocurrencies bring to the economy. The more I’ve learned about the prospects of crypto and the dangerous state of our traditional economy, the more convinced I’ve become that the fight for human sovereignty and the right to life, liberty and the pursuit of happiness are intrinsically tied to currency independence. That Bitcoin – as an initial use case – and cryptocurrencies more broadly are freedom.
What does that mean exactly, when someone says Bitcoin is freedom? Is that just hyperbole they’re using, hoping the price of BTC skyrockets and they can become quick millionaires? Absolutely not. To me, that statement has profound, far-reaching implications. Bitcoin is freedom from the corrupting influence of central bankers and money-lending cartels.
In part one of this essay, I’ll summarize the last four hundred years of monetary policy, showing how an organized crime syndicate led by the Rothschild family has manufactured a financial system in which wealth and resources are stolen from the public and consolidated in the hands of a few ultra-wealthy elites. In part two, I’ll highlight the characteristics of Bitcoin and cryptocurrencies broadly which make them viable alternatives for escaping this hamster wheel of a financial system in which we’re living.
Part 1: The Corrupting Influence of Central Bankers and Money-Lending Cartels
To start, let me highlight that almost no one in the world understands how the economy works, including regulators, bankers and investors. This is done intentionally – the cabal who controls our financial system benefits from this opaqueness because the way the economy works is so criminal. If you would like a history of how the largest organized crime racket in history developed and seized control of our global economic system, I’d point you to four books:
Pawns in the Game by William Guy Carr
Secrets of the Federal Reserve by Eustace Mullins
One Nation Under Blackmail: The Sordid Union Between Intelligence and Crime that Gave Rise to Jeffrey Epstein, Volume 1 & Volume 2 by Whitney Webb
These investigative journalists connect the dots of the true history of our financial system, a history that has been buried under propaganda and the lie that our economy is based on free market capitalism. It is not. It is based on oligarchy, regulatory capture, blackmail, and corruption.
Here’s a short summary of the actual events I believe took place to get us to the point we’re at today, where the richest 85 people in the world have more wealth than the poorest 3.5bn people.[i] This implies the top 0.000001% of the population has more wealth than the bottom 50%. How does this happen by accident? It doesn’t.
Central Banking in the UK & US
In the mid-1600s, an organized crime outfit originating in the Khazarian empire of Eastern Europe instigated violent revolution in England through their agent, Oliver Cromwell. This was the initial act in destabilizing the Old-World colonial powers to transition power away from royalty and religious institutions to the moneylenders who financed them.[ii]
This political intrigue led to the beheading of King Charles I in 1649. The fallout that ensued led to William of Orange, another agent of this crime syndicate, winning the throne in 1689. The new king immediately borrowed GBP 1.25mn from these debt lenders and in 1694 established the Bank of England.[iii]
In the first four years of the central bank’s existence, the British national debt grew from GBP 1mn to 16mn. This number has continued to grow exponentially, and as of mid-2022 the Bank of England’s National Debt stood at GBP 2.4 trillion. The monthly interest payments on this debt, about GBP 8.7bn, are paid for and guaranteed by the British taxpayers. These interest payments to the Bank of England directly line the pockets of the cabal who has always controlled this institution since its inception.[iv]
In 1773, this organized crime outfit was formalized into a cartel under the leadership of Mayer Amschel Rothschild at the first meeting of the World Revolutionary Movement.[v] This cartel over the subsequent 250 years grew its tentacles of deception and incorporated the institutions we today refer to as the Illuminati, the New World Order, the cabal and the Deep State. Yes, these organizations are all real and there are no limits to the evil its members engage in for the sake of control, power, and depraved self-indulgence.
The five sons of M.A. Rothschild established branches in the principal cities of Europe, institutions which have come to dominate the world of finance over the subsequent 250 years. The most successful of these were Nathan Mayer Rothschild in London and James de Rothschild in Paris.[vi]
Through an elaborate pump and dump scheme following the Battle of Waterloo in 1815, Nathan Mayer Rothschild took control of the Bank of England for the Rothschild family. By this point in time, the Bank of England had a monopoly on the creation of pound sterling and controlled the global supply of gold.[vii]
The Rothschild family used covert agents to capture the US financial system, as they had gained notoriety in Europe and many refused to work with the Rothschild’s due to their penchant for treachery. Here’s William Guy Carr explaining how the cabal fomented the American revolution through monetary policy:[viii]
In order to understand how the men who obtained control of the Bank of England, and the British national debt, also obtained control of the trade and commerce, and the monetary system of Britain’s American colonies, it will be sufficient if we pick up the threads of the story at the time Benjamin Franklin (1706-1790) went over to England to represent the interests of the men who had been associated with him in building up the prosperity of the American colonies.
Robert L. Owen, former chairman, Committee on Banking and Currency… states that when associates of the Rothschild’s asked Franklin how he accounted for the prosperous conditions prevailing in the colonies, he replied: “That is simple – In the colonies we issue our own money. It is called Colonial Script – we issue it in proportion to the demands of trade and industry.”
Robert L. Owen remarked that not very long after the Rothschilds heard of this they realized the opportunity to exploit the situation with considerable profit to themselves. The obvious thing to do was to have a law passed prohibiting the colonial officials from issuing their own money and make it compulsory for them to obtain the money they required through the medium of the Banks. [M.A.] Rothschild was still in Germany, but he was supplying the British Government with Mercenary Troops at GBP 8 per man. Such was his influence in 1764 that he succeeded, through the Directors of the Bank of England, in having laws passed in accordance with his dictates.
The authorities in the Colonies had to discard their Script money. They had to mortgage the Colonial assets and securities to the Bank of England in order to borrow the money they needed to carry on business. Referring to those facts Benjamin Franklin stated, “In one year the conditions were so reversed that the era of prosperity ended, and a depression set in, to such an extent that the streets of the colonies were filled with unemployed.” Franklin stated: “The Bank of England refused to give more than 50 percent of the face value of the Script when turned over as required by law. The circulating medium of exchange was thus reduced by half.”
Mr. Franklin disclosed the primary cause of the Revolution when he said: “The colonies would gladly have borne the little tax on tea and other matters had it not been that England took away from the colonies their money, which created unemployment and dissatisfaction.”
Suspected Rothschild agents in the first 150 years following the Revolution include Alexander Hamilton, George Peabody, Junius Morgan, Nicholas Biddle, J.P. Morgan, Jacob Schiff, Otto Kahn, Paul Warburg & Bernard Baruch. These men established many of the most powerful financial institutions today – including JP Morgan Chase, Brown Brothers Harriman, & Kuhn, Loeb & Co. (now part of Barclays). While many US banks failed during the panics of 1837, 1857, 1893 and 1907 – these cabal-backed institutions carried on and ultimately benefited from the creation of the Federal Reserve in 1913.[ix]
In 1791, Alexander Hamilton, the first US Secretary of Treasury, established the First Bank of the United States at the behest of European bankers pulling the strings.[x] This central bank had much of the same powers as the Bank of England until its charter expired in 1811.
The Second Bank of the United States received its charter in 1816 to help in paying the war debts the US incurred during the War of 1812. In 1836, President Andrew Jackson refused to extend the charter of the Second Bank of the United States – an institution whose President was Nicholas Biddle, an agent of James de Rothschild of Paris. Jackson said, “You are a den of vipers. I intend to rout you out and by the Eternal God, I will rout you out. If the people only understood the rank injustice of our money and banking system, there would be a revolution before morning.”[xi] He wasn’t exaggerating.
The cabal responded to Jackson by aggravating the Panic of 1837, when the Bank of England in one day threw out all the paper connected with the United States – refusing to accept any securities, bonds, or financial paper in the US. The purpose was to create an immediate financial panic, cause a complete contraction of credit, halt further issues of stocks and bonds, and ruin those seeking to turn the United States securities into cash.[xii] The plan worked.
In 1891, a secret association known as the Round Table was formed between the Rothschilds, Cecil Rhodes, and JP Morgan, amongst others. This organization evolved into the Royal Institute of International Affairs in London, the Council on Foreign Relations in the US, and globalist organizations including the Trilateral Commission and the Bilderberg Group. These organizations have colluded to choose the leading government officials on both sides of the pond ever since. This has resulted in increasing levels of regulatory capture and further intwined the interests of Big Banking with those of politics.[xiii]
The cabal’s crowning achievement took place following a covert meeting in November 1910, three years after they had orchestrated the Panic of 1907. Eight men conspired at Jekyll Island to craft a plan that resulted in the formation of the Federal Reserve. The eight men in attendance at Jekyll Island were all acting as agents of the Rothschild family. They were:
Senator Nelson Aldrich, the father-in-law of John D. Rockefeller, Jr. and head of the National Monetary Commission,
Arthur Shelton, Aldrich’s private secretary & Special Assistant of the National Monetary System,
A. Piatt Andrew, Assistant Secretary of the Treasury,
Frank Vanderlip, President of the National City Bank of New York,
Charles D. Norton, President of First National Bank of New York,
Henry P. Davison, Senior Partner of JP Morgan Co.
Benjamin Strong of JP Morgan Co., and
Paul Warburg, Partner of Kuhn, Loeb & Co. and one of the original members of the Federal Reserve Board of Governors.
The Federal Reserve Act was signed into law in 1913 by President Woodrow Wilson, whose election had been bought and paid for by the cabal.[xiv] On Substack, I’ve included a political cartoon from 1912 arguing against the creation of the Fed as is would result in an octopus monster that controls the White House, Congress, the US Treasury, commercial banks, Wall Street, farming and industry. This is exactly what has happened over the subsequent 110 years.
Political Cartoon (1912) Warning Against the Creation of the Federal Reserve System[xv]
The Federal Reserve: Den of Thieves
The Federal Reserve for the past 110 years has claimed that it is not “owned” by anyone, and that it is a “decentralized operating structure of 12 Federal Reserve Banks”.[xvi] However, the government has never owned a single share of stock in any Federal Reserve Bank, of which the NY Federal Reserve is by far the most important. Rather, the stock is all owned by private corporations – namely the banks responsible for the conspiracy that led to its creation.
So, who owns the Federal Reserve today? While underlying ownership data is difficult to obtain due to obfuscation, it’s believed that about 80% of the NY Fed is owned by just eight families. The Goldman Sachs, Rockefellers, Lehmans and Kuhn Loebs in the US, and the Rothschilds, Warburgs, Lazards and Israel Moses Seifs in Europe.[xvii]
When the Federal Reserve was initially formed, a fraction of the money it printed had to be backed by gold. However, in the late 1960s, the US was experiencing a run on gold. President Nixon stepped in to “temporarily” detach the USD from the gold standard, which ended up being a permanent decision.
While the Federal Reserve had a monopoly on money printing in the US, this decision could have dramatically lowered foreign demand for the USD. In stepped Henry Kissinger, who colluded with the King of Saudi Arabia to ensure that OPEC nations could only sell their oil in USD – a decision which stands today and has further entangled US fiscal and monetary policy with the interests of Big Oil.[xviii] Any foreign leader who attempts to sell oil in other currencies – such as Saddam Hussein attempted in 2000 – is met with opposition from the US military-industrial complex. But more on that topic for another day.
The result is that today, the money printed by the Federal Reserve is backed by absolutely nothing. Here’s Congressman Wright Patman explaining how the process of money creation works:[xix]
The dollar represents a one-dollar debt to the Federal Reserve System. The Federal Reserve Banks create money out of thin air to buy Government bonds from the United States Treasury, lending money into circulation at interest, by bookkeeping entries of checkbook credit to the United States Treasury. The Treasury writes up an interest-bearing bond for one billion dollars. The Federal Reserve gives the Treasury a one-billion-dollar credit for the bond, and has created out of nothing a one billion dollar debt which the American people are obligated to pay with interest.
Now, the cabal who controls the Federal Reserve can create money out of thin air, then charge interest and principal on this paper to the American taxpayers. This creates an exceptionally dangerous situation, where the Fed is encouraged to keep printing more money. This in turn drives inflation, increases the cost of living for the public, and increases the cost to service the debt.
When the Fed was created, US national debt was almost non-existent. Today, the national debt stands at over $31 trillion. At the time of publication, Congress is debating increasing the debt ceiling again, for the 79th time since 1960. These skyrocketing levels of debt resulted in the US spending $232bn of taxpayer dollars on interest alone in Q1’23, 50% more than in Q1’22.[xx]
Who benefits from these interest payments? The same cabal who has always profiteered from the central banking Ponzi scheme.
The 110 Year Racket
Immediately after the Federal Reserve was created, the cabal began abusing the institution for their own self-interest. Here’s Eustace Mullins explaining what happened next:[xxii]
The first task of the Federal Reserve System would be to finance World War I. The European nations were already bankrupt, because they had maintained large standing armies for almost fifty years, a situation created by their own central banks, and therefore they could not finance a war. A central bank always imposes a tremendous burden on the nation for “rearmament” and “defense”, in order to create an inextinguishable debt, simultaneously creating a military dictatorship and enslaving the people to pay the “interest” on the debt which the bankers have artificially created.
The men in control of the Fed went on to orchestrate: [xxiii]
Second, the Agricultural Depression of 1920. Third, the Black Friday Crash on Wall Street of October 1929 and the ensuing Great Depression. Fourth, World War II. Fifth, the conversion of the assets of the United States and its citizens from real property to paper assets from 1945 to the present, transforming a victorious America and foremost world power in 1945 to the world’s largest debtor nation.
Over the past century, the cabal has corrupted the most powerful institutions in the world – the military, intelligence agencies, Fortune 500 corporations, politics, Hollywood, academia, etc. – often through blackmail by capturing elites in lewd sexual activities. Many of these elites are entrapped through sex with children. Concurrently, the cabal has orchestrated conflicts and revolutions across the globe, profiting from war debts, human trafficking, arms dealing, and drug smuggling in the process.
On Substack, I’ve created a chart that shows how the banks represented at Jekyll Island – National City Bank, First National Bank, JP Morgan Company, and Kuhn Loeb & Co. – subsequently became Citigroup, JP Morgan Chase, and Barclays, respectively. I’ve also highlighted the Federal Reserve Directors, Treasury Secretaries, and banking executives who are members of the Council on Foreign Relations. Finally, I’ve highlighted these institutions’ ties to the Rothschild crime family and to corrupt intelligence asset, money launderer, arms dealer, human trafficker, and child rapist Jeffrey Epstein.
I’d like to wrap up this section with some thoughts on how the economy actually works. Here are seven points to highlight:
1. The cabal controls the most important hard assets and fiat currencies.
2. By controlling the supply of all the most important currencies, these banks can then create credit, and charge interest on the paper money they’ve created out of nothing.
3. Whenever they issue new credit, the buyers of these bonds are commercial banks, asset managers, and Fortune 1,000 corporations which they also own. Those corporations then have immediate purchasing power before prices have adjusted, so they can spend this money at pre-inflation prices.
4. By the time the money printed trickles its way through the economy to the individual consumer, prices have adjusted, and our purchasing power has been reduced by inflation.
5. Meanwhile, because this cabal controls the supply of money, interest rates, and most of the global wealth under management, they can orchestrate financial crises whenever it suits them to “pull the rug out from the economy”, such as during the 2008 financial crisis. All the while, the bankers collect higher amounts of interest on an increasing quantum of debt.
6. In these depressed points in market cycles, cabal-controlled corporations can buy up competitors for pennies on the dollar, while also using their pawns in government to justify “bail-outs” that transfer money from the public to the banks. For example, when First Republic Bank collapsed earlier this month, JP Morgan got to purchase $185bn worth of assets for $10.6bn.[xxiv]
7. These financial crises are often coordinated in tandem with other disasters, including food shortages, energy crises, geopolitical conflicts, and/or global pandemics. These additional triggers increase the public’s fear and willingness to give up civil liberties, as well as to transfer tax dollars to multinational corporations for “emergency use”.
This global economic enslavement must end! Enter Bitcoin.
Part 2: Cryptocurrency & Emancipation through Currency Independence
Satoshi Nakamoto published the Bitcoin white paper in October 2008. The identity of Satoshi remains a mystery, but the implications of what he/she/they started cannot be understated. A few months after publishing the white paper, Satoshi posted on an online message board:[xxv]
I’ve developed a new open source P2P e-cash system called Bitcoin. It’s completely decentralized, with no central server or trusted parties, because everything is based on crypto proof instead of trust.
With that, a revolution was born. Satoshi’s white paper was published during the depths of the Global Financial Crisis. The GFC was a period of economic panic when the largest banks in the world siphoned trillions of dollars from American taxpayers to prevent a financial collapse which they had created. Citigroup – which was formed from two Rothschild-controlled banks represented at Jekyll Island - was the largest beneficiary of the bailout, receiving $517bn+.[xxvi]
Satoshi recognized the dangers present in central banks and trusted third parties as financial intermediaries, who can form money-lending cartels. Satoshi’s solution was a decentralized, peer-to-peer system in which the total number of Bitcoin’s would be algorithmically constrained to 21mn total Bitcoin. This genius element of scarcity removes the risk of inflation in Bitcoin, because unlike fiat currencies, central bankers cannot print more Bitcoin. The risks of hyperinflation in fiat currencies are real and dangerous – which we’re seeing play out in real time with the US dollar.
Bitcoin’s blockchain continues to be built out as the underlying network of computers (or nodes) running Bitcoin’s software validate transactions on the chain. Bitcoin miners, who participate in the validation process by contributing computing power, are rewarded with addition BTC for validating the transactions.
Another genius of Satoshi’s methodology was to ensure that after every 210,000 blocks are mined, the reward for mining is halved.[xxvii] This ensured that the earliest adopters benefit the most from Bitcoin’s broad adoption, and that by the time the establishment caught on to Bitcoin’s potential, it was already too late. They could not now gain control of the asset because of its decentralized nature and algorithmic halving. This is exactly why we’re now seeing governments cracking down on cryptocurrencies.
The Empire Strikes Back
About 1.5 years ago, I published an essay titled “Bitcoin vs. Gold and Hedging the Collapse of the USD” in which I expressed my gratitude for the existence of Bitcoin and cryptocurrencies as a hedge in case the USD collapses. Unfortunately, the likelihood of the dollar collapsing has only increased since that time. I hate to say it, but I believe the cabal is intentionally pushing the USD towards collapse to incite panic and economic depression. It’s for this exact reason that we must understand what makes something a monetary asset, and how crypto can help us avoid economic disaster.
In Matt Huang’s white paper, “Bitcoin for the Open-Minded Skeptic”, he highlights the metrics as to what makes something a monetary asset - scarcity, portability, fungibility, divisibility, durability and broad acceptance.[xxviii] Bitcoin scores strongly on all of these metrics except broad acceptance, although that is changing by the day. Huang further recognized that Bitcoin also has additional, non-traditional monetary features such as being digital, programmable, decentralized, censorship-resistant and universal. These are all incredible valuable at a time when the American public is losing faith in the USD as a monetary asset, and rightfully so.
Now, one elected official who has been outspoken against Bitcoin is Massachusetts Senator Elizabeth Warren. Curious how Elizabeth “break up the big banks” Warren is against cryptocurrency, when they arguably represent the public’s best chance to escape economic enslavement. You don’t think it’s possible an elected politician would lie to the American public to protect the financial institutions she or he truly represent, do you?
Here’s Senator Warren last year on Meet the Press:[xxix]
Senator Elizabeth Warren: With Bitcoin, there’s no thing that backs it up. And that’s what makes it different. It’s just belief. You and I assess. You assess the value is going to go down, I assess it is going to go up, and therefore I buy.
Chuck Todd: So, it’s more like this artwork?
Warren: No. Because at the end of the day I could hang that thing on my wall. And I could enjoy it. Or I could throw darts at it.
Todd: You could sell it for money.
Warren: Sure you can. I mean there are features about it that are the same. But it’s not the same. And look, one of the things we have to remember - there are a lot of things that come within this crypto world. So instead of Bitcoin, we could be talking about a digital currency. Now that’s something very different.
Todd: I think that’s different too. I buy that, I accept that.
Warren: That’s right, because that’s a government backed electronic transfer. And it can be denominated in dollars. It could be denominated in Euros, it could be denominated in some new language that’s made up. But that has something that backs it up. It has a government that says if at the end of the day, there’s a run on this stuff, everybody wants theirs out – the United States government promises there will be something to back it up. And that’s what banks are about. There will be somebody there to back it up. But with Bitcoin, that’s not the case.
Of course, Warren here fails to acknowledge that the USD also has “no thing” that backs it up, much less that a private cartel of banking families are the sole beneficiaries of money printing. In this interview, Warren goes on to support the creation of Central Bank Digital Currencies (CBDCs), which completely invert the purpose of cryptocurrencies by centralizing power and control in the hands of the government. But the US Federal government could never be culpable of waste, fraud and abuse, right?
Warren then goes on to criticize cryptocurrencies for their ability to facilitate black market industries such as drug smuggling and human trafficking. Here again, she fails to acknowledge how these massive industries and the criminals who control them have already exploited the traditional financial system for their personal gain.
For example, here’s an interesting lawsuit filed by the Government of the US Virgin Islands against JP Morgan Chase in December 2022:[xxx]
The lawsuit goes on to name Jes Staley, Head of JP Morgan’s Private Bank, as intimately connected to Jeffrey Epstein. Staley had gone on to run Barclay’s as CEO following his time at JPM, then was removed from that position due to his Epstein ties. When we get into the meat of the lawsuit, Sections II and III, the document is almost entirely redacted. Why?
While this lawsuit against JP Morgan was developing, JP Morgan’s CEO Jamie Dimon continued with business as usual. He went on CNBC in January of 2023 and had this to say about Bitcoin:[xxxi]
Andrew Ross Sorkin: We pretty much always have some crypto conversation with you. I’m just curious because I don’t think we’ve talked with you since…
Jamie Dimon: I think all of that has been a waste of time. And why you guys waste any breath on it is totally beyond me.
Sorkin: Because you just think the whole thing is going to zero? And it’s fake?
Jamie Dimon: Bitcoin itself is a hyped-up fraud. It’s a pet rock.
Sorkin: We’re back to that?
Dimon: Of course, yeah.
Joe Kernen: There are some tokens that I agree with you on. But Bitcoin is based on a distributed ledger. It has all the characteristics of a store of value. It’s immutable, it’s scarce.
Dimon: Totally untrue.
Kernen: 21mn.
Dimon: Oh yeah, really? How do you know it’s going to stop at 21mn? I’ve mentioned this to people too. Everyone says that, but maybe it will get to 21mn and Satoshi’s picture is going to come up and laugh at you. And say nah, nah. And by then Satoshi will have taken out billions of dollars…
Kernan: Jamie there’s a difference between saying FTX is a decentralized Ponzi scheme and saying that crypto itself is a Ponzi scheme. I mean Madoff traded options, options weren’t…
Dimon: Crypto itself doesn’t do anything. It is a pet rock. You can own it all you want. I don’t care about Bitcoin, so we should just drop the subject.
Two months after Dimon dismissively informed CNBC’s audience that Bitcoin is a pet rock Ponzi schemes, investigative journalist Whitney Webb published an article titled “The Rise of Jamie Dimon”. Here’s some of what she had to say:[xxxii]
In a hearing in the US [Virgin Islands] case against JPMorgan earlier this month, a USVI lawyer argued that the CEO of JPMorgan – Jamie Dimon – “knew in 2008 that his billionaire client [Jeffrey Epstein] was a sex trafficker.” The lawyer, Mimi Liu, also stated that former JPMorgan [executive] Jes Staley also knew this about Epstein at the time, but noted: “This case was not just Jes Staley … there will be numerous documents that go far beyond his office to the executive suite.” Liu also asserted that “Staley knew, Dimon knew, JPMorgan Chase knew” about Epstein’s criminal activities against minors.
While the bank has disputed that Dimon knew anything about Epstein’s accounts at the bank or what he was really up to at the time, this Unlimited Hangout investigation – a multi-part series – will reveal that Dimon’s rise to the top post at JPMorgan was intimately linked to the very same group of people who enabled Jeffrey Epstein’s sex trafficking activities as well as his extensive financial crimes…
Given [Dimon’s ties to Epstein associates like The Limited’s Leslie Wexner, Columbus-area real estate developer John W. Kessler, and Chicago’s Crown family], JPMorgan’s claims that Dimon never knew what Jeffrey Epstein was up to during his time with the bank becomes much harder to believe. Furthermore, the players discussed here – Dimon and Epstein among them – were instrumental in the creation of what would manifest as the 2008 economic crisis. Not unlike some of the events that sparked today’s banking crisis, figures like Jeffrey Epstein, Dimon’s mentor Sandy Weill and the former Treasury Secretaries with close associations with both men, Robert Rubin and Larry Summers, appeared to have engaged in actions that would intentionally provoke the collapse of certain banks to further consolidate the banking sector for their benefit. The goal, both then and now, seems to have been a move towards the logical conclusion of the “too big to fail” banking model — the eventual creation of a centralized cartel of mega-banks that dominate, not only commercial banking, but also central banking.
When the corrupt elites, the institutions they control, and their puppets in elected office insist Bitcoin is a sham, your antenna should be popping up. That perhaps, instead of blindly following their illogical, self-serving arguments, we should understand the philosophy of Bitcoin and how cryptocurrencies can help solve the corruption inherent in central banking and money-lending cartels.
The Decline of Empire & the Changing World Order
If our current economic system continues to deteriorate, we should expect our government to increase currency controls as a last attempt in maintaining centralized control. Ray Dalio highlights how these dynamics typically play out for declining empires and reserve currencies in his book The Changing World Order:[xxxiii]
Anyone who studies history can see that no system of government, no economic system, no currency, and no empire lasts forever, yet almost everyone is surprised and ruined when they fail…
A reserve currency is a currency that is accepted around the world for transactions and savings. The country that gets to print the world’s primary currency (now the US, but this has changed through history) is in a very powerful position, and debt that is denominated in the world’s reserve currency (i.e., the US dollar-denominated debt now) is the most fundamental building block for the world’s capital markets and the world’s economies. It is also the case that all reserve currencies in the past have ceased to be reserve currencies, often coming to traumatic ends for the countries that enjoyed the special power…
The decline phase typically comes from internal economic weakness together with internal fighting, or from costly external fighting, or both. Typically, the country’s decline comes gradually and then suddenly.
Internally:
When debts become very large, and there is an economic downturn and the empire can no longer borrow the money necessary to repay its debts, this creates great domestic hardships and forces the country to choose between defaulting on its debts and printing a lot of new money.
The country nearly always chooses to print a lot of new money, at first gradually and eventually massively. This devalues the currency and raises inflation.
Typically at those times when the government has problems funding itself – at the same time as there are bad financial and economic conditions, and large wealth, values, and political gaps – there are great increases in internal conflicts between the rich and poor and different ethnic, religious, and racial groups.
This leads to political extremism that shows up as populism of the left or of the right. Those of the left seek to redistribute the wealth while those of the right seek to maintain the wealth in the hands of the rich. This is the “anti-capitalist phase,” when capitalism, capitalists, and the elites in general are blamed for the problems.
Typically during such times taxes on the rich rise, and when the rich fear their wealth and well-being will be taken away, they move to places, assets, and currencies they feel safer in. These outflows reduce the country’s tax revenue, which leads to a classic self-reinforcing, hollowing-out process.
When the flight of wealth gets bad enough, the country outlaws it. Those seeking to get out begin to panic.
These turbulent conditions undermine productivity, which shrinks the economic pie and causes more conflict about how to divide the shrinking resources. Populist leaders emerge from both sides and pledge to take control and bring about order. That’s when democracy is most challenged because it fails to control the anarchy and because the move to a strong populist leader who will bring order to the chaos is most likely.
As conflict within the country escalates, it leads to some form of revolution or civil war to redistribute wealth and force big changes. This can be peaceful and maintain the existing internal order, but it’s more often violent and changes the order.
It’s only when the forces that produce internal disorder and instability align with an external challenge that the entire world order can change.
Externally:
When there is a rising great power that is capable of challenging the existing great power and existing world order, there is a rising risk of great international conflicts, especially if there is internal conflict going on within the existing great power. Typically the rising international opponent will seek to exploit this domestic weakness. This is especially true if the rising international power has built up a comparable military.
Defending oneself against foreign rivals requires great military spending, which has to occur even as domestic economic conditions are deteriorating and the leading great power can least afford it.
Since there is no viable system for peacefully adjudicating international disputes, these conflicts are typically resolved through tests of power.
As bolder challenges are made, the leading empire is faced with the difficult choice of fighting or retreating. Fighting and losing are the worst, but retreating is bad too because it allows the opposition to progress and it shows that one is weak to those other countries that are considering what side to be on.
Poor economic conditions cause more fighting for wealth and power, which inevitably leads to some kind of war.
Wars are terribly costly. At the same time, they produce the necessary tectonic shifts that realign the world order to the new reality of wealth and power.
When those holding the reserve currency and debt of the declining empire lose faith and sell them, that marks the end of its Big Cycle.
When all of these forces line up – indebtedness, civil war/revolution at home, war abroad, and a loss of faith in the currency – a change in the world order is typically at hand.
The uncomfortable truth is that the United States and the USD are fast approaching the end of the Big Cycle. We can repeat the same mistakes of the past – leading to internal revolution and geopolitical conflict – or we can choose a better path forward. What’s different this time is that we have the technology readily available to break the chains of central bankers and money-lending cartels.
Emancipation through Currency Independence
The beauty of Bitcoin is not just its decentralized, global ledger, insulated from the self-serving regulations of any individual government – although this is certainly a key breakthrough. The critical element of Bitcoin is that it serves as an initial use case for the viability of cryptocurrencies broadly.
The cabal has been able to control the economic system because they control all the most important monetary assets (USD, EUR, GBP, gold, silver, etc.). With cryptocurrencies, we now have infinite viable options with which to transact. If the public loses confidence in BTC, they can easily switch to ETH, or Matic, or Solana, or Cardano, etc., etc., etc. Furthermore, I expect cryptocurrencies and NFTs will revolutionize the foundational principles of economics to create a more equitable, productive system for all.
I encourage my listeners to take a sober look at where the USD & economy stands today, and the geopolitical events driving us towards World War III. We can again play into the hands of the war financiers, the drug smugglers, the human traffickers and the arms dealers. Or we can emancipate ourselves from the financial ties that bind, once and for all. Learn about cryptocurrencies, understand how to self-custody your assets, and notify your elected officials that we will not accept laws that prohibit the free flow of currency exchange.
Transitioning from the traditional economy to a decentralized economy will not be easy. But its an endeavor worth the fight. Today, we are on the brink of the emancipation of humanity through currency independence. So, I guess all that is left to say is: Bitcoin to the moon!
Appendix
Notable Members of the CFR, Bilderberg Group, and Trilateral Commission [xxxiv]
[i] “Oxfam: 85 richest people as wealthy as poorest half of the world”. The Guardian. January 20, 2014. Accessed Sep 5, 2022. https://www.theguardian.com/business/2014/jan/20/oxfam-85-richest-people-half-of-the-world.
[ii] Carr, William Guy. Pawns in the Game. 1958, Dauphin Productions.
[iii] Ibid
[iv] “UK borrowing leads to record interest payments”. BBC. Jul 21, 2021. Accessed Apr 14, 2023. https://www.bbc.com/news/business-57912347.
[v] Carr, William Guy. Pawns in the Game. 1958, Dauphin Productions.
[vi] Mullins, Eustace. The Secrets of the Federal Reserve. Bankers Research Institute, New York: 1993.
[vii] Ibid
[viii] Carr, William Guy. Pawns in the Game. 1958, Dauphin Productions.
[ix] Ibid
[x] Ibid
[xi] Ibid
[xii] Ibid
[xiii] Ibid
[xiv] Mullins, Eustace. The Secrets of the Federal Reserve. Bankers Research Institute, New York: 1993.
[xv] Crozier, Alfred Owen. U.S. Money Vs. Corporation Currency, "Aldrich Plan.": Wall Street Confessions! Great Bank Combine. New York, Nabu Press: 2010. Originally published 1912.
[xvi] “Who owns the Federal Reserve?”. Federal Reserve: FAQs. Accessed May 9, 2023. https://www.federalreserve.gov/faqs/about_14986.htm.
[xvii] “False Flags with Richard Dolan”, Episode 3. Gaia Streaming. Accessed Jul 7, 2022.
[xviii] Ibid
[xix] Mullins, Eustace. The Secrets of the Federal Reserve. Bankers Research Institute, New York: 1993.
[xx] “Debt ceiling impasse: Fed rate hikes are already forcing US to spend record amounts on interest payments – and it’s going to keep getting worse”. The Conversation. Jan 30, 2023, Updated May 10, 2023. Accessed May 10, 2023. https://theconversation.com/debt-ceiling-impasse-fed-rate-hikes-are-already-forcing-us-to-spend-record-amounts-on-interest-payments-and-its-going-to-keep-getting-worse-198280.
[xxi] Ibid
[xxii] Mullins, Eustace. The Secrets of the Federal Reserve. Bankers Research Institute, New York: 1993.
[xxiii] Ibid
[xxiv] Picchi, Aimee. “What happens to First Republic Bank's stock and deposits now?” Money Watch. May 2, 2023. Accessed May 10, 2023. https://www.cbsnews.com/news/first-republic-bank-stock-deposits-shareholders-cbs-explains/
[xxv] Adams, Michael. “Who is Satoshi Nakamoto”. Forbes. Mar 18, 2023. Accessed May 11, 2023. https://www.forbes.com/advisor/investing/cryptocurrency/who-is-satoshi-nakamoto/.
[xxvi] Cohan, William. “How Citigroup Escaped Financial Disaster in 2008”. The New York Times. Aug 6, 2018. Accessed Jan 13, 2023. https://www.nytimes.com/2018/08/06/books/review/james-freeman-vern-mckinley-borrowed-time.html.
[xxvii] Conway, Luke. “What Is Bitcoin Halving? Definition, How It Works, Why It Matters”. Investopedia. May 6, 2023. Accessed May 11, 2023. https://www.investopedia.com/bitcoin-halving-4843769.
[xxviii] Huang, Matt, on behalf of Paradigm Capital. Bitcoin for the Open-Minded Skeptic. May 2020. https://www.matthuang.com/static/Bitcoin_For_The_Open_Minded_Skeptic.pdf.
[xxix] “Sen. Warren: When You Buy Crypto, Are You Buying Air?”. Meet the Press. Apr 1, 2022. Accessed May 11, 2023.
[xxx] U.S. Virgin Islands v JP Morgan. Scribd. Dec 12, 2022. Accessed Jan 12, 2023. https://www.scribd.com/document/619174026/U-S-Virgin-Islands-v-JP-Morgan#.
[xxxi] “JP Morgan’s Jamie Dimon: ‘Bitcoin is a hyped-up fraud’”. CNBC. Jan 19, 2023. Accessed May 12, 2023.
[xxxii] Webb, Whitney. “The Rise of Jamie Dimon”. Unlimited Hangout. Mar 27, 2023. Accessed May 12, 2023. https://unlimitedhangout.com/2023/03/investigative-series/the-rise-of-jamie-dimon/.
[xxxiii] Dalio, Ray. The Changing World Order. Simon & Shuster, New York: 2021.
[xxxiv] “The American Media and its Empire”. Swiss Policy Research. Accessed Sep 5, 2022. https://swprs.org/the-american-empire-and-its-media/.
