This guy, Rajat Soni, has become my favorite Bitcoin influencer du jour. His tweets are a constant stream of pure economic nonsense aimed at convincing people to convert all of their wealth into Bitcoin (which Rajat claims to have done already). The fact that he’s a CFA (Chartered Financial Analyst) makes it even better and just reinforces my belief that the economic and financial “experts” are the least capable people in the world of seeing through the irrationality of the status quo and understanding core economic issues.
I would hate to lose yet another word from the language, we've lost too many already as society is dumbed down, evidenced by your Bitcoin friend. I agree with Gesell that using money as a store of wealth is a problem as it allows massive accumulations of it to be used for power to steer public policy and perceptions.
I think of money as a social power embodied in law as an unconditional payment system. Currency is used to represent it as the distributive mechanism for that social power. This is why it should be public power and not a private one. How the system is designed to function then is critical to how it impacts people and places, which can be positively or negatively depending on the design. Money is never neutral. As Soddy pointed out in 1934, “To allow it to become a source of revenue to private issuers is to create, first, a secret and illicit arm of the government and, last, a rival power strong enough ultimately to overthrow all other forms of government.” Indeed, this is our current reality.
However, as you know Gesell demonstrated how to free the money from the chains of usury and reverse all its negative impacts, turning them into positive impacts simply by design. I think the Wörgl currency was the most successful currency in the last 600 years if the measure is public benefit. Some would probably claim the US Dollar is the most successful and if you mean in subjugating and dominating the world I guess it is but that is about maximizing profits for the few, not for public benefit.
Josh,
I would hate to lose yet another word from the language, we've lost too many already as society is dumbed down, evidenced by your Bitcoin friend. I agree with Gesell that using money as a store of wealth is a problem as it allows massive accumulations of it to be used for power to steer public policy and perceptions.
I think of money as a social power embodied in law as an unconditional payment system. Currency is used to represent it as the distributive mechanism for that social power. This is why it should be public power and not a private one. How the system is designed to function then is critical to how it impacts people and places, which can be positively or negatively depending on the design. Money is never neutral. As Soddy pointed out in 1934, “To allow it to become a source of revenue to private issuers is to create, first, a secret and illicit arm of the government and, last, a rival power strong enough ultimately to overthrow all other forms of government.” Indeed, this is our current reality.
However, as you know Gesell demonstrated how to free the money from the chains of usury and reverse all its negative impacts, turning them into positive impacts simply by design. I think the Wörgl currency was the most successful currency in the last 600 years if the measure is public benefit. Some would probably claim the US Dollar is the most successful and if you mean in subjugating and dominating the world I guess it is but that is about maximizing profits for the few, not for public benefit.