Not having to deal with it
By: Knut Svanholm
Tags: Bitcoin, Propaganda, Keynes, Inflation, Austrian Economics

Many people ignore Bitcoin on purpose and they seem to think that by doing so they will somehow be immune to its effects on the world economy. They should open their eyes. Propaganda is something most people tend to associate with developing countries and corrupt states and that they’re somehow immune to it but this is not the case. Propaganda doesn’t need to brainwash you completely by hammering a specific set of political ideas into your brain. It just needs to subtly steer your attention away from the true intention of the propagandist. Like a magician can conjure up a hundred dollar bill seemingly out of nowhere by making you focus on something else, a central banker can suck the value out of a hundred dollar bill while you focus on something else. In most cases, central bankers do not produce propaganda. They don’t have to. Virtually all media and news outlets focus on report everything but the thievery we’re all victims to — inflation.

Inflation affects all aspects of society in subtle but profound ways. It makes us favour spending rather than saving which in turn might be the main reason that the Arctic ice cap is melting right now. Most people can’t see the connection. Humanity has arguably never experienced a truly sound form of money that can’t be tampered with by anyone. Bitcoin’s fundamentals plus its short but very important history might have turned it into a unique opportunity for us to try sound money for the very first time. Should this be the case, which it certainly seems to be, then no one on earth would be unaffected. As a matter of fact everyone is affected by the lack of sound money right now.

Imagine a hundred people marooned on a deserted island. The only food there is on the island is a hundred coconuts that they gather in a pile. They decide to give each person a coconut each and therefore a hundred “coconut coupons” are created. One coupon, one coconut. Everyone gets a coupon each and everyone’s happy. Basic supply and demand laws tells us that if you double the amount of coupons, they will eventually be worth only half a coconut each. Double the amount of coconuts instead and a coupon will eventually buy you two coconuts. Everyone knows this intuitively but inflation is very seldom mentioned as the root cause of anything by the media, even though it affects virtually every interaction taking place between human beings. Bitcoin is sound money and sound money will replace unsound money sooner or later. You can either accept its existence or suffer the ever present consequences of staying in the old systems. No person on earth is unaffected by the existence of the internet and no person on earth can stay unaffected by the internet of value.

It is important to remember that this is still a technology in its infancy. Bitcoin is poised to challenge just about everything we thought we knew about society but we still have a long way to go before we replace the fraudulent US dollar as the world’s reserve currency. Bitcoin is challenging the ruling classes of the world and that’s the most formidable foe the planet has to offer. It won’t be easy and they will do everything in their power to besmudge us. Imagine if you will how the world looked nine years after the automobile had been invented. Horses still ruled the roads, gas stations were scarce and asphalt was yet to be invented. Bitcoin has already passed the first and most difficult hurdles to mass adoption and it’s only a matter of time before the great monetary migration starts. You won’t be unaffected. You won’t be unaffected at all.