Ecologists should embrace Bitcoin
Sure, there’s been some knee-jerk criticism from the uninformed
luvvies that dominant the Guardian and that’s to be expected.
Liberals are more interested in scoring marks for snark to brag
about at Whole Foods rather than drilling down into hard core data
and actual economics. Grants, ‘Genius Grants,’ subsidies and love
fests at Ted conferences is what sustains these intellectual
heavyweights so don’t expect any actual worthwhile analysis
involving hard numbers.
So let me do their work for them, as I have done many times in
the past; in explaining why the organic, tree hugging, morally
superior ‘Friends of the Earth’ should get past their self
actualization for a minute and take a closer look at
Because it’s outside the banking system, it does not feed the
bankers who are draining capital out of society and paying
themselves huge bonuses doing it. In the UK for example, for every
£1 saved on mortgages and other credit instruments thanks to
‘Quantitative Easing’ and other gifts to bankers, £3 is confiscated
from savers in interest bearing instruments, pensions and alike
(£210bn in total). With Bitcoin this channeling of wealth from
people who work hard and save - to speculators - who borrow,
gamble and lose - and hold the government hostage is not
Another issue luvvies are concerned about, and rightly so is
privacy. Governments and corporations have now signed deals, like
the one America’s NSA just signed with banking lobbyists to allow
snoops to ‘drag net’ all financial data from you they want at any
time for any reason. For those whose thoughts turn to Cyprus right
now, you’re right in what you’re thinking. The primary reason the
NSA wants this is for confiscation: again, to pay predatory
bankers’ bonuses. Bitcoin eliminates this risk. It's cryptologic
nature protects you.
Finally, Bitcoin’s supply is limited. The last Bitcoin is set to
mined in 2140. This is important for ecologists who press for
greater efficiencies and less waste in economies. Energy suppliers,
for example, would be forced to innovate and come up with better
technology to increase profits then to simply lobby the government
for handouts or start wars occasionally to create artificial demand
for their services.
Bitcoin is the ecologist’s friend when looked at as part of the
financial ecology. Unfortunately most ecologists are too busy
protecting the Earth and seas to stop for a moment and think about
protecting the financial ecology from the ravages of fiat money,
fractional reserve banking and rogue central banks.
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of RT.